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Posted by on December 16, 2007, 1:55 pm
Why doesn't the results of the Soc Sec "Online Calculator"
per se match the results shown in my 2007 statement?
(Note: There are 3 SS benefits calculators at ssa.gov. I am
referring to the one actually called "Online Calculator".)
Clearly, this is a question for the SSA. But I wonder if anyone
here can offer some insight.
According to my 2007 statement, my estimated initial monthly
retirement payment would be 1633, 2201 and 2922 at ages 60,
66 and 70 respectively. My estimated initial monthly disability
payment would be 2159.
But when I fill in the same SS earnings into the "Online
Calculator", using the same SS earnings for 2006, 2007, 2008
and 2009/later that I earned in 2005 (my SS statement did not
show SS earnings for 2006), the estimated initial monthly
retirement payment would be 1702, 2289 and 3031 in "today's
dollars". The estimated initial monthly disability payment would
be 2256.
The difference is small -- 69, 88 ,109 and 97 -- "close enough
for government work", some might say. But the percentage
difference is signifcant: 4.2%, 4.0%, 3.7% and 4.5%.
Extra credit: Why isn't the disability benefit (2256) the same
as the retirement benefit (2238) if I set the SS earnings for
2009/later to zero?
Again, a small difference of only 18.
But the "Online Calculator" explains: "For the disability and
survivors estimates that follow, we assumed you became
disabled or died in 2008. We did not use earnings after 2008
in calculating these estimates."
So I expected the results to be the same.
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