Social Security is an earned benefit. Your earnings history is a record of your progress toward your benefits. Social Security keeps track of your earnings so we can pay you the benefits you’ve earned over your lifetime. This is why reviewing your Social Security earnings record is so important.
If an employer didn’t properly report just one year of your work earnings to us, your future benefit payments from Social Security could be less than they should be. Over the course of a lifetime, that could cost you tens of thousands of dollars in retirement or other benefits to which you are entitled. Sooner is definitely better when it comes to identifying and reporting problems with your earnings record. As time passes, you may no longer have easy access to past tax documents, and some employers may no longer exist or be able to provide past payroll information.
While it’s the responsibility of your employers, both past and present, to provide accurate earnings information to Social Security so you get credit for the contributions you’ve made through payroll taxes, you should still inform us of any errors or omissions you find. You’re the only person who can look at your lifetime earnings record and verify that it’s complete and correct.
The easiest and most efficient way to validate your earnings record is to visit socialsecurity.gov/myaccount to set up or sign in to your own my Social Security account. You should carefully review each year of listed earnings and use your own records, such as W-2s and tax returns, to confirm them. Keep in mind that earnings from this year and last year may not be listed yet. Notify us right away if you spot errors by calling 1-800-772-1213.
You can find more detailed instructions on how to correct your Social Security earnings record at socialsecurity.gov/pubs/EN-05-10081.pdf.
Remember, you can access important information like this any time at socialsecurity.gov and do much of your business with us online.
Question:
I served in the military, and I’ll receive a military pension when I retire. Will that affect my Social Security benefits?
Answer:
You can get both Social Security retirement benefits and military retirement at the same time. Generally, we don’t reduce your Social Security benefits because of your military benefits. When you’re ready to apply for Social Security retirement benefits, go to socialsecurity.gov/applyonline. This is the fastest and easiest way to apply. For your convenience, you can always save your progress during your application and complete it later. We thank you for your military service!
Question:
How are my retirement benefits calculated?
Answer:
Your Social Security benefits are based on earnings averaged over your lifetime. Your actual earnings are first adjusted or “indexed” to account for changes in average wages since the year the earnings were received. Then we calculate your average monthly indexed earnings during the 35 years in which you earned the most. We apply a formula to these earnings and arrive at your basic benefit. This is the amount you would receive at your full retirement age. You may be able to estimate your benefit by using our Retirement Estimator, which offers estimates based on your Social Security earnings. You can find the Retirement Estimator at socialsecurity.gov/estimator.
Question:
I know that Social Security’s full retirement age is gradually rising to 67. But does this mean the “early” retirement age will also go up by two years, from age 62 to 64?
Answer:
No. While it is true that under current law the full retirement age is gradually rising from 65 to 67, the “early” retirement age remains at 62. Keep in mind, however, that taking early retirement reduces your benefit amount. For more information about Social Security benefits, visit socialsecurity.gov/planners/retire.
