QUESTION

Does it benefit me to make more money my last 2 years of work before I retire as far as SS monthly benefits are concerned?

Asked on Mar 12th, 2021 on Social Security - California
More details to this question:
As it affects the benefit determination formula. In other words. If life time work is average at 30,000 yearly, and last 2 years are at 60,000 yearly. Are benefits skewed in my favor?
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1 ANSWER

Social Security Disability Attorney serving Franklin, TN
2 Awards
It'll help but probably not as much as you think. Retirement benefits are based on your highest 35 years, not the past 3 or 5 years like some pension plans.  In addition, earnings are adjusted for inflation so it may not help at all unless they replace lower adjusted years.  My guess is that it will result in a slightly higher amount but I wouldn't keep working just for that reason. Work because you want to work or need the money, don't do it for a few extra SS retirement dollars. 
Answered on Mar 13th, 2021 at 6:19 AM

Steve Perrigo, 615-504-5682

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