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<h2 class="fw4 ma0">Workers with Maximum-Taxable Earnings</h2><!-- #EndEditable -->
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<p>
<span class="fs2"><b>Social Security benefits depend on earnings</b></span><br>
The amount of a person's retirement benefit
depends primarily on his or her lifetime earnings. We index such earnings
(that is, convert past earnings to approximately their equivalent values
near the time of the person's retirement) using the
<a href="AWI.html">national average wage index</a>. See
<a href="../ProgData/retirebenefit1.html">how we use earnings to compute
a retirement benefit amount</a>.</p>
<p><span class="fs2"><b>Benefit Examples For Workers With Maximum-Taxable Earnings</b></span><br />
The <i>initial</i> benefit amounts shown in the table below assume retirement
in January of the stated year, with <a href="cbb.html">maximum-taxable earnings</a>
since age 22. Benefits <i>in 2025</i> reflect subsequent automatic
<a href="colasummary.html">benefit increases</a> (if any). The table
shows <a href="Benefits.html#aime">Average Indexed Monthly Earnings
(AIME)</a>&#8212;an amount that summarizes a person's earnings&#8212;and
the corresponding monthly benefit amounts. Retirement at age 70 produces
the highest ratio of retirement benefit to AIME.</p>
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<table style="margin:0 0 0rem;">
<caption class="fs2 pb2"><b>Worker with steady earnings at the maximum level since age 22</b></caption>
<tr><th style="width:4%; " rowspan="3" >Retirement in Jan.</th>
<th colspan="3" style="color:#fff; background-color:#004669; border-bottom:none; border-right:1px solid #fff;" >Retirement at age 62<a class="white hover-teal" href="#fna"><sup style="font-size:.7rem"> a</sup></a></th>
<th colspan="3" style="color:#fff; background-color:#004669; border-bottom:none; border-right:1px solid #fff;" >Retirement at age 65<a class="white hover-teal" href="#fnb"><sup style="font-size:.7rem"> b</sup></a></th>
<th colspan="3" style="color:#fff; background-color:#004669; border-bottom:none; border-right:1px solid #fff;" >Retirement at age 66<a class="white hover-teal" href="#fnc"><sup style="font-size:.7rem"> c</sup></a></th>
<th colspan="3" style="color:#fff; background-color:#004669; border-bottom:none; border-right:1px solid #fff;" >Retirement at age 67<a class="white hover-teal" href="#fnd"><sup style="font-size:.7rem"> d</sup></a></th>
<th colspan="3" style="color:#fff; background-color:#004669; border-bottom:none; border-right:none;" >Retirement at age 70<a class="white hover-teal" href="#fne"><sup style="font-size:.7rem"> e</sup></a></th>
</tr>
<tr style="vertical-align:bottom;">
<th scope="col" abbr="Age 62 AIME" rowspan="2" style="text-align:right; border-right:none;">AIME</th>
<th colspan="2" style="padding-left:2px; padding-right:2px; width:12%;">Monthly benefits</th>
<th scope="col" abbr="Age 62 AIME" rowspan="2" style="text-align:right; border-right:none;">AIME</th>
<th colspan="2" style="padding-left:2px; padding-right:2px; width:12%;">Monthly benefits</th>
<th scope="col" abbr="Age 62 AIME" rowspan="2" style="text-align:right; border-right:none;">AIME</th>
<th colspan="2" style="padding-left:2px; padding-right:2px; width:12%;">Monthly benefits</th>
<th scope="col" abbr="Age 62 AIME" rowspan="2" style="text-align:right; border-right:none;">AIME</th>
<th colspan="2" style="padding-left:2px; padding-right:2px; width:12%;">Monthly benefits</th>
<th scope="col" abbr="Age 62 AIME" rowspan="2" style="text-align:right; border-right:none;">AIME</th>
<th colspan="2" style="padding-left:2px; padding-right:2px; width:12%; border-right:none;">Monthly benefits</th>
</tr>
<tr style="vertical-align:bottom;">
<th scope="col" abbr="Age 62 initial benefit" style="text-align:right; border-right:none;">Initial</th>
<th scope="col" abbr="Age 62 after COLAs" style="text-align:right; width:7%;">In 2025</th>
<th scope="col" abbr="Age 65 initial benefit" style="text-align:right; border-right:none;">Initial</th>
<th scope="col" abbr="Age 65 after COLAs" style="text-align:right; width:7%;">In 2025</th>
<th scope="col" abbr="Age 66 initial benefit" style="text-align:right; border-right:none;">Initial</th>
<th scope="col" abbr="Age 66 after COLAs" style="text-align:right; width:7%;">In 2025</th>
<th scope="col" abbr="Age 67 initial benefit" style="text-align:right; border-right:none;">Initial</th>
<th scope="col" abbr="Age 67 after COLAs" style="text-align:right; width:7%;">In 2025</th>
<th scope="col" abbr="Age 70 initial benefit" style="text-align:right; border-right:none;">Initial</th>
<th scope="col" abbr="Age 70 after COLAs" style="text-align:right; width:7%; border-right:none;">In 2025</th>
</tr>
<tr><td style="text-align:center;">1987</td>
<td style="border-right:none;">$2,205</td> <td style="border-right:none;">$666</td> <td>$1,891</td>
<td style="border-right:none;">$2,009</td> <td style="border-right:none;">$789</td> <td>$2,238</td>
<td style="border-right:none;">$1,955</td> <td style="border-right:none;">$806</td> <td>$2,288</td>
<td style="border-right:none;">$1,861</td> <td style="border-right:none;">$825</td> <td>$2,342</td>
<td style="border-right:none;">$1,725</td> <td style="border-right:none;">$1,056</td> <td style="border-right:none;">$2,998</td>
</tr>
<tr><td style="text-align:center;">1988</td>
<td style="border-right:none;">2,311</td> <td style="border-right:none;">691</td> <td>1,882</td>
<td style="border-right:none;">2,139</td> <td style="border-right:none;">838</td> <td>2,283</td>
<td style="border-right:none;">2,089</td> <td style="border-right:none;">860</td> <td>2,343</td>
<td style="border-right:none;">2,040</td> <td style="border-right:none;">880</td> <td>2,398</td>
<td style="border-right:none;">1,859</td> <td style="border-right:none;">1,080</td> <td style="border-right:none;">2,941</td>
</tr>
<tr><td style="text-align:center;">1989</td>
<td style="border-right:none;">2,490</td> <td style="border-right:none;">739</td> <td>1,935</td>
<td style="border-right:none;">2,287</td> <td style="border-right:none;">899</td> <td>2,354</td>
<td style="border-right:none;">2,217</td> <td style="border-right:none;">911</td> <td>2,387</td>
<td style="border-right:none;">2,171</td> <td style="border-right:none;">936</td> <td>2,451</td>
<td style="border-right:none;">2,000</td> <td style="border-right:none;">1,063</td> <td style="border-right:none;">2,784</td>
</tr>
<tr><td style="text-align:center;">1990</td>
<td style="border-right:none;">2,648</td> <td style="border-right:none;">780</td> <td>1,950</td>
<td style="border-right:none;">2,417</td> <td style="border-right:none;">975</td> <td>2,438</td>
<td style="border-right:none;">2,368</td> <td style="border-right:none;">984</td> <td>2,462</td>
<td style="border-right:none;">2,302</td> <td style="border-right:none;">998</td> <td>2,496</td>
<td style="border-right:none;">2,154</td> <td style="border-right:none;">1,085</td> <td style="border-right:none;">2,713</td>
</tr>
<tr><td style="text-align:center;">1991</td>
<td style="border-right:none;">2,792</td> <td style="border-right:none;">815</td> <td>1,935</td>
<td style="border-right:none;">2,531</td> <td style="border-right:none;">1,022</td> <td>2,426</td>
<td style="border-right:none;">2,502</td> <td style="border-right:none;">1,079</td> <td>2,561</td>
<td style="border-right:none;">2,457</td> <td style="border-right:none;">1,084</td> <td>2,573</td>
<td style="border-right:none;">2,332</td> <td style="border-right:none;">1,163</td> <td style="border-right:none;">2,761</td>
</tr>
<tr><td style="text-align:center;">1992</td>
<td style="border-right:none;">2,978</td> <td style="border-right:none;">860</td> <td>1,968</td>
<td style="border-right:none;">2,716</td> <td style="border-right:none;">1,088</td> <td>2,491</td>
<td style="border-right:none;">2,617</td> <td style="border-right:none;">1,113</td> <td>2,548</td>
<td style="border-right:none;">2,592</td> <td style="border-right:none;">1,175</td> <td>2,689</td>
<td style="border-right:none;">2,470</td> <td style="border-right:none;">1,231</td> <td style="border-right:none;">2,818</td>
</tr>
<tr><td style="text-align:center;">1993</td>
<td style="border-right:none;">3,154</td> <td style="border-right:none;">899</td> <td>1,999</td>
<td style="border-right:none;">2,878</td> <td style="border-right:none;">1,128</td> <td>2,508</td>
<td style="border-right:none;">2,801</td> <td style="border-right:none;">1,181</td> <td>2,625</td>
<td style="border-right:none;">2,708</td> <td style="border-right:none;">1,203</td> <td>2,674</td>
<td style="border-right:none;">2,605</td> <td style="border-right:none;">1,289</td> <td style="border-right:none;">2,864</td>
</tr>
<tr><td style="text-align:center;">1994</td>
<td style="border-right:none;">3,384</td> <td style="border-right:none;">954</td> <td>2,067</td>
<td style="border-right:none;">3,024</td> <td style="border-right:none;">1,147</td> <td>2,485</td>
<td style="border-right:none;">2,963</td> <td style="border-right:none;">1,219</td> <td>2,641</td>
<td style="border-right:none;">2,891</td> <td style="border-right:none;">1,276</td> <td>2,764</td>
<td style="border-right:none;">2,758</td> <td style="border-right:none;">1,358</td> <td style="border-right:none;">2,941</td>
</tr>
<tr><td style="text-align:center;">1995</td>
<td style="border-right:none;">3,493</td> <td style="border-right:none;">972</td> <td>2,048</td>
<td style="border-right:none;">3,219</td> <td style="border-right:none;">1,199</td> <td>2,526</td>
<td style="border-right:none;">3,112</td> <td style="border-right:none;">1,248</td> <td>2,629</td>
<td style="border-right:none;">3,055</td> <td style="border-right:none;">1,319</td> <td>2,779</td>
<td style="border-right:none;">2,896</td> <td style="border-right:none;">1,474</td> <td style="border-right:none;">3,105</td>
</tr>
<tr><td style="text-align:center;">1996</td>
<td style="border-right:none;">3,657</td> <td style="border-right:none;">1,006</td> <td>2,067</td>
<td style="border-right:none;">3,402</td> <td style="border-right:none;">1,248</td> <td>2,564</td>
<td style="border-right:none;">3,306</td> <td style="border-right:none;">1,300</td> <td>2,671</td>
<td style="border-right:none;">3,201</td> <td style="border-right:none;">1,352</td> <td>2,777</td>
<td style="border-right:none;">3,012</td> <td style="border-right:none;">1,501</td> <td style="border-right:none;">3,082</td>
</tr>
<tr><td style="text-align:center;">1997</td>
<td style="border-right:none;">3,877</td> <td style="border-right:none;">1,056</td> <td>2,108</td>
<td style="border-right:none;">3,634</td> <td style="border-right:none;">1,326</td> <td>2,647</td>
<td style="border-right:none;">3,490</td> <td style="border-right:none;">1,364</td> <td>2,723</td>
<td style="border-right:none;">3,396</td> <td style="border-right:none;">1,412</td> <td>2,819</td>
<td style="border-right:none;">3,189</td> <td style="border-right:none;">1,609</td> <td style="border-right:none;">3,213</td>
</tr>
<tr><td style="text-align:center;">1998</td>
<td style="border-right:none;">4,144</td> <td style="border-right:none;">1,117</td> <td>2,184</td>
<td style="border-right:none;">3,750</td> <td style="border-right:none;">1,342</td> <td>2,624</td>
<td style="border-right:none;">3,724</td> <td style="border-right:none;">1,437</td> <td>2,810</td>
<td style="border-right:none;">3,584</td> <td style="border-right:none;">1,477</td> <td>2,887</td>
<td style="border-right:none;">3,348</td> <td style="border-right:none;">1,648</td> <td style="border-right:none;">3,221</td>
</tr>
<tr><td style="text-align:center;">1999</td>
<td style="border-right:none;">4,463</td> <td style="border-right:none;">1,191</td> <td>2,300</td>
<td style="border-right:none;">3,926</td> <td style="border-right:none;">1,373</td> <td>2,649</td>
<td style="border-right:none;">3,847</td> <td style="border-right:none;">1,451</td> <td>2,801</td>
<td style="border-right:none;">3,822</td> <td style="border-right:none;">1,544</td> <td>2,979</td>
<td style="border-right:none;">3,496</td> <td style="border-right:none;">1,684</td> <td style="border-right:none;">3,250</td>
</tr>
<tr><td style="text-align:center;">2000</td>
<td style="border-right:none;">4,775</td> <td style="border-right:none;">1,248</td> <td>2,350</td>
<td style="border-right:none;">4,161</td> <td style="border-right:none;">1,435</td> <td>2,702</td>
<td style="border-right:none;">4,031</td> <td style="border-right:none;">1,502</td> <td>2,829</td>
<td style="border-right:none;">3,954</td> <td style="border-right:none;">1,585</td> <td>2,984</td>
<td style="border-right:none;">3,707</td> <td style="border-right:none;">1,752</td> <td style="border-right:none;">3,300</td>
</tr>
<tr><td style="text-align:center;">2001</td>
<td style="border-right:none;">5,126</td> <td style="border-right:none;">1,314</td> <td>2,391</td>
<td style="border-right:none;">4,440</td> <td style="border-right:none;">1,538</td> <td>2,797</td>
<td style="border-right:none;">4,272</td> <td style="border-right:none;">1,593</td> <td>2,899</td>
<td style="border-right:none;">4,144</td> <td style="border-right:none;">1,657</td> <td>3,015</td>
<td style="border-right:none;">3,912</td> <td style="border-right:none;">1,879</td> <td style="border-right:none;">3,418</td>
</tr>
<tr><td style="text-align:center;">2002</td>
<td style="border-right:none;">5,499</td> <td style="border-right:none;">1,382</td> <td>2,451</td>
<td style="border-right:none;">4,770</td> <td style="border-right:none;">1,660</td> <td>2,944</td>
<td style="border-right:none;">4,555</td> <td style="border-right:none;">1,692</td> <td>3,001</td>
<td style="border-right:none;">4,390</td> <td style="border-right:none;">1,750</td> <td>3,103</td>
<td style="border-right:none;">4,165</td> <td style="border-right:none;">1,988</td> <td style="border-right:none;">3,525</td>
</tr>
<tr><td style="text-align:center;">2003</td>
<td style="border-right:none;">5,729</td> <td style="border-right:none;">1,412</td> <td>2,469</td>
<td style="border-right:none;">5,099</td> <td style="border-right:none;">1,721</td> <td>3,010</td>
<td style="border-right:none;">4,890</td> <td style="border-right:none;">1,814</td> <td>3,172</td>
<td style="border-right:none;">4,679</td> <td style="border-right:none;">1,836</td> <td>3,212</td>
<td style="border-right:none;">4,321</td> <td style="border-right:none;">2,045</td> <td style="border-right:none;">3,576</td>
</tr>
<tr><td style="text-align:center;">2004</td>
<td style="border-right:none;">5,892</td> <td style="border-right:none;">1,422</td> <td>2,436</td>
<td style="border-right:none;">5,457</td> <td style="border-right:none;">1,784</td> <td>3,056</td>
<td style="border-right:none;">5,219</td> <td style="border-right:none;">1,894</td> <td>3,245</td>
<td style="border-right:none;">5,015</td> <td style="border-right:none;">1,989</td> <td>3,407</td>
<td style="border-right:none;">4,532</td> <td style="border-right:none;">2,111</td> <td style="border-right:none;">3,616</td>
</tr>
<tr><td style="text-align:center;">2005</td>
<td style="border-right:none;">6,137</td> <td style="border-right:none;">1,452</td> <td>2,423</td>
<td style="border-right:none;">5,827</td> <td style="border-right:none;">1,874</td> <td>3,126</td>
<td style="border-right:none;">5,574</td> <td style="border-right:none;">1,982</td> <td>3,305</td>
<td style="border-right:none;">5,341</td> <td style="border-right:none;">2,088</td> <td>3,483</td>
<td style="border-right:none;">4,786</td> <td style="border-right:none;">2,252</td> <td style="border-right:none;">3,756</td>
</tr>
<tr><td style="text-align:center;">2006</td>
<td style="border-right:none;">6,515</td> <td style="border-right:none;">1,530</td> <td>2,453</td>
<td style="border-right:none;">6,058</td> <td style="border-right:none;">1,961</td> <td>3,143</td>
<td style="border-right:none;">5,940</td> <td style="border-right:none;">2,108</td> <td>3,378</td>
<td style="border-right:none;">5,692</td> <td style="border-right:none;">2,223</td> <td>3,563</td>
<td style="border-right:none;">5,072</td> <td style="border-right:none;">2,420</td> <td style="border-right:none;">3,878</td>
</tr>
<tr><td style="text-align:center;">2007</td>
<td style="border-right:none;">6,852</td> <td style="border-right:none;">1,598</td> <td>2,478</td>
<td style="border-right:none;">6,229</td> <td style="border-right:none;">1,998</td> <td>3,099</td>
<td style="border-right:none;">6,177</td> <td style="border-right:none;">2,194</td> <td>3,404</td>
<td style="border-right:none;">6,062</td> <td style="border-right:none;">2,348</td> <td>3,642</td>
<td style="border-right:none;">5,406</td> <td style="border-right:none;">2,672</td> <td style="border-right:none;">4,145</td>
</tr>
<tr><td style="text-align:center;">2008</td>
<td style="border-right:none;">7,260</td> <td style="border-right:none;">1,682</td> <td>2,550</td>
<td style="border-right:none;">6,479</td> <td style="border-right:none;">2,030</td> <td>3,079</td>
<td style="border-right:none;">6,350</td> <td style="border-right:none;">2,212</td> <td>3,355</td>
<td style="border-right:none;">6,300</td> <td style="border-right:none;">2,432</td> <td>3,688</td>
<td style="border-right:none;">5,733</td> <td style="border-right:none;">2,794</td> <td style="border-right:none;">4,236</td>
</tr>
<tr><td style="text-align:center;">2009</td>
<td style="border-right:none;">7,685</td> <td style="border-right:none;">1,769</td> <td>2,535</td>
<td style="border-right:none;">6,861</td> <td style="border-right:none;">2,172</td> <td>3,113</td>
<td style="border-right:none;">6,606</td> <td style="border-right:none;">2,323</td> <td>3,330</td>
<td style="border-right:none;">6,480</td> <td style="border-right:none;">2,539</td> <td>3,639</td>
<td style="border-right:none;">6,090</td> <td style="border-right:none;">3,054</td> <td style="border-right:none;">4,377</td>
</tr>
<tr><td style="text-align:center;">2010</td>
<td style="border-right:none;">7,949</td> <td style="border-right:none;">1,820</td> <td>2,608</td>
<td style="border-right:none;">7,189</td> <td style="border-right:none;">2,191</td> <td>3,141</td>
<td style="border-right:none;">6,976</td> <td style="border-right:none;">2,346</td> <td>3,363</td>
<td style="border-right:none;">6,728</td> <td style="border-right:none;">2,532</td> <td>3,630</td>
<td style="border-right:none;">6,450</td> <td style="border-right:none;">3,119</td> <td style="border-right:none;">4,470</td>
</tr>
<tr><td style="text-align:center;">2011</td>
<td style="border-right:none;">7,928</td> <td style="border-right:none;">1,803</td> <td>2,584</td>
<td style="border-right:none;">7,579</td> <td style="border-right:none;">2,249</td> <td>3,223</td>
<td style="border-right:none;">7,299</td> <td style="border-right:none;">2,366</td> <td>3,391</td>
<td style="border-right:none;">7,091</td> <td style="border-right:none;">2,555</td> <td>3,662</td>
<td style="border-right:none;">6,683</td> <td style="border-right:none;">3,193</td> <td style="border-right:none;">4,576</td>
</tr>
<tr><td style="text-align:center;">2012</td>
<td style="border-right:none;">8,199</td> <td style="border-right:none;">1,855</td> <td>2,567</td>
<td style="border-right:none;">7,973</td> <td style="border-right:none;">2,310</td> <td>3,196</td>
<td style="border-right:none;">7,680</td> <td style="border-right:none;">2,513</td> <td>3,477</td>
<td style="border-right:none;">7,407</td> <td style="border-right:none;">2,666</td> <td>3,689</td>
<td style="border-right:none;">6,852</td> <td style="border-right:none;">3,266</td> <td style="border-right:none;">4,518</td>
</tr>
<tr><td style="text-align:center;">2013</td>
<td style="border-right:none;">8,539</td> <td style="border-right:none;">1,923</td> <td>2,616</td>
<td style="border-right:none;">8,230</td> <td style="border-right:none;">2,414</td> <td>3,284</td>
<td style="border-right:none;">8,074</td> <td style="border-right:none;">2,533</td> <td>3,446</td>
<td style="border-right:none;">7,788</td> <td style="border-right:none;">2,780</td> <td>3,782</td>
<td style="border-right:none;">7,095</td> <td style="border-right:none;">3,350</td> <td style="border-right:none;">4,557</td>
</tr>
<tr><td style="text-align:center;">2014</td>
<td style="border-right:none;">8,890</td> <td style="border-right:none;">1,992</td> <td>2,671</td>
<td style="border-right:none;">8,229</td> <td style="border-right:none;">2,431</td> <td>3,259</td>
<td style="border-right:none;">8,335</td> <td style="border-right:none;">2,642</td> <td>3,541</td>
<td style="border-right:none;">8,182</td> <td style="border-right:none;">2,795</td> <td>3,747</td>
<td style="border-right:none;">7,452</td> <td style="border-right:none;">3,425</td> <td style="border-right:none;">4,590</td>
</tr>
<tr><td style="text-align:center;">2015</td>
<td style="border-right:none;">9,066</td> <td style="border-right:none;">2,025</td> <td>2,668</td>
<td style="border-right:none;">8,479</td> <td style="border-right:none;">2,452</td> <td>3,231</td>
<td style="border-right:none;">8,314</td> <td style="border-right:none;">2,663</td> <td>3,510</td>
<td style="border-right:none;">8,417</td> <td style="border-right:none;">2,916</td> <td>3,844</td>
<td style="border-right:none;">7,747</td> <td style="border-right:none;">3,501</td> <td style="border-right:none;">4,613</td>
</tr>
<tr><td style="text-align:center;">2016</td>
<td style="border-right:none;">9,431</td> <td style="border-right:none;">2,102</td> <td>2,770</td>
<td style="border-right:none;">8,782</td> <td style="border-right:none;">2,491</td> <td>3,283</td>
<td style="border-right:none;">8,556</td> <td style="border-right:none;">2,639</td> <td>3,478</td>
<td style="border-right:none;">8,395</td> <td style="border-right:none;">2,891</td> <td>3,810</td>
<td style="border-right:none;">8,090</td> <td style="border-right:none;">3,576</td> <td style="border-right:none;">4,712</td>
</tr>
<tr><td style="text-align:center;">2017</td>
<td style="border-right:none;">9,784</td> <td style="border-right:none;">2,153</td> <td>2,830</td>
<td style="border-right:none;">9,076</td> <td style="border-right:none;">2,542</td> <td>3,340</td>
<td style="border-right:none;">8,843</td> <td style="border-right:none;">2,687</td> <td>3,530</td>
<td style="border-right:none;">8,624</td> <td style="border-right:none;">2,870</td> <td>3,771</td>
<td style="border-right:none;">8,426</td> <td style="border-right:none;">3,538</td> <td style="border-right:none;">4,649</td>
</tr>
<tr><td style="text-align:center;">2018</td>
<td style="border-right:none;">9,936</td> <td style="border-right:none;">2,158</td> <td>2,780</td>
<td style="border-right:none;">9,243</td> <td style="border-right:none;">2,589</td> <td>3,335</td>
<td style="border-right:none;">9,144</td> <td style="border-right:none;">2,788</td> <td>3,592</td>
<td style="border-right:none;">8,918</td> <td style="border-right:none;">2,973</td> <td>3,829</td>
<td style="border-right:none;">8,649</td> <td style="border-right:none;">3,698</td> <td style="border-right:none;">4,763</td>
</tr>
<tr><td style="text-align:center;">2019</td>
<td style="border-right:none;">10,296</td> <td style="border-right:none;">2,209</td> <td>2,769</td>
<td style="border-right:none;">9,578</td> <td style="border-right:none;">2,757</td> <td>3,456</td>
<td style="border-right:none;">9,300</td> <td style="border-right:none;">2,861</td> <td>3,585</td>
<td style="border-right:none;">9,204</td> <td style="border-right:none;">3,106</td> <td>3,893</td>
<td style="border-right:none;">8,635</td> <td style="border-right:none;">3,770</td> <td style="border-right:none;">4,724</td>
</tr>
<tr><td style="text-align:center;">2020</td>
<td style="border-right:none;">10,683</td> <td style="border-right:none;">2,265</td> <td>2,794</td>
<td style="border-right:none;">9,919</td> <td style="border-right:none;">2,857</td> <td>3,523</td>
<td style="border-right:none;">9,636</td> <td style="border-right:none;">3,011</td> <td>3,714</td>
<td style="border-right:none;">9,366</td> <td style="border-right:none;">3,150</td> <td>3,886</td>
<td style="border-right:none;">8,864</td> <td style="border-right:none;">3,790</td> <td style="border-right:none;">4,675</td>
</tr>
<tr><td style="text-align:center;">2021</td>
<td style="border-right:none;">11,098</td> <td style="border-right:none;">2,324</td> <td>2,830</td>
<td style="border-right:none;">10,074</td> <td style="border-right:none;">2,841</td> <td>3,459</td>
<td style="border-right:none;">9,979</td> <td style="border-right:none;">3,113</td> <td>3,790</td>
<td style="border-right:none;">9,704</td> <td style="border-right:none;">3,306</td> <td>4,025</td>
<td style="border-right:none;">9,150</td> <td style="border-right:none;">3,895</td> <td style="border-right:none;">4,743</td>
</tr>
<tr><td style="text-align:center;">2022</td>
<td style="border-right:none;">11,430</td> <td style="border-right:none;">2,364</td> <td>2,718</td>
<td style="border-right:none;">10,437</td> <td style="border-right:none;">2,993</td> <td>3,441</td>
<td style="border-right:none;">10,141</td> <td style="border-right:none;">3,240</td> <td>3,725</td>
<td style="border-right:none;">10,049</td> <td style="border-right:none;">3,568</td> <td>4,103</td>
<td style="border-right:none;">9,446</td> <td style="border-right:none;">4,194</td> <td style="border-right:none;">4,822</td>
</tr>
<tr><td style="text-align:center;">2023</td>
<td style="border-right:none;">12,427</td> <td style="border-right:none;">2,572</td> <td>2,721</td>
<td style="border-right:none;">10,824</td> <td style="border-right:none;">3,279</td> <td>3,468</td>
<td style="border-right:none;">10,503</td> <td style="border-right:none;">3,506</td> <td>3,708</td>
<td style="border-right:none;">10,217</td> <td style="border-right:none;">3,808</td> <td>4,028</td>
<td style="border-right:none;">9,628</td> <td style="border-right:none;">4,555</td> <td style="border-right:none;">4,818</td>
</tr>
<tr><td style="text-align:center;">2024</td>
<td style="border-right:none;">13,100</td> <td style="border-right:none;">2,710</td> <td>2,778</td>
<td style="border-right:none;">11,256</td> <td style="border-right:none;">3,426</td> <td>3,512</td>
<td style="border-right:none;">10,911</td> <td style="border-right:none;">3,652</td> <td>3,744</td>
<td style="border-right:none;">10,600</td> <td style="border-right:none;">3,911</td> <td>4,008</td>
<td style="border-right:none;">9,990</td> <td style="border-right:none;">4,873</td> <td style="border-right:none;">4,995</td>
</tr>
<tr><td style="text-align:center;">2025</td>
<td style="border-right:none;">13,689</td> <td style="border-right:none;">2,831</td> <td>2,831</td>
<td style="border-right:none;">11,621</td> <td style="border-right:none;">3,374</td> <td>3,374</td>
<td style="border-right:none;">11,351</td> <td style="border-right:none;">3,795</td> <td>3,795</td>
<td style="border-right:none;">11,017</td> <td style="border-right:none;">4,043</td> <td>4,043</td>
<td style="border-right:none;">10,367</td> <td style="border-right:none;">5,108</td> <td style="border-right:none;">5,108</td>
</tr>
</table>
<div class="pl2 pr2 pb3 pt2" style="font-size:.7rem;">
<a name="fna"><sup style="font-size:.7rem">a</sup></a> Retirement at age 62
is assumed here to be at exact age 62 and 1 month. Such early
retirement results in a reduced monthly benefit.<br />
<a name="fnb"><sup style="font-size:.7rem">b</sup></a> Retirement at age 65 is assumed to be at exact
age 65 and 0 months. For retirement in 2003 and later, the monthly
benefit is reduced for early retirement. (For people born before 1938, age 65 is the
<a href="../ProgData/nra.html">normal retirement age</a>. Normal
retirement age will gradually increase to age 67.)<br />
<a name="fnc"><sup style="font-size:.7rem">c</sup></a> Retirement at age 66 is assumed to be at exact
age 66 and 0 months. Age 66 is the normal retirement age for people
born in 1943-54. People who retired at age 66 and who were born before 1943 received
<a href="../quickcalc/early_late.html#late">delayed retirement credits</a>;
those born after 1954 will have their benefits reduced for early retirement. Thus,
for retirement in 2021 and later, the monthly benefit is reduced for early retirement.<br />
<a name="fnc"><sup style="font-size:.7rem">d</sup></a> Retirement at age 67 is assumed to be at exact
age 67 and 0 months. Age 67 is the normal retirement age for people
born in 1960 and later. People who retired at age 67 and who were born before 1960 received
<a href="../quickcalc/early_late.html#late">delayed retirement credits</a>.<br />
<a name="fnd"><sup style="font-size:.7rem">e</sup></a> Retirement at age 70 maximizes the effect of
<a href="../quickcalc/early_late.html#late">delayed retirement credits</a>.
</div>
<div class="pb3 pt2 pl2 pr2" style="border-top:solid 1px #004669; font-size:.7rem;">
Note: Initial monthly benefits paid at ages 65, 66, 67, and 70 in 2000-2001 were slightly
lower than the amounts shown above because such initial benefits were partially based on
a cost-of-living adjustment (COLA) for December 1999 that was originally determined as
2.4 percent based on CPIs published by the Bureau of Labor Statistics. Pursuant to
Public Law 106-554, however, this COLA is effectively now 2.5 percent, and the
above figures reflect the benefit change required by this legislation.
</div>
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