The Retirement Calculator is an useful tool for everyone. People who are about to retire can have a better idea of their forthcoming annual benefits while younger workers will be able plan their retirement date based on the earnings they wish to receive in the future and, furthermore, it will provide helpful information on how much they need to save while working to maintain or improve their lifestyle.
The Retirement Estimator (ssa.gov/estimator> allows each person to compare data by changing dates or expected future earnings, making it easier to take decisions on such an important matter for workers and their families.
Individuals are allowed to print up to three different options, which are completely secure and do not reveal any personal information when processed.
Right now the Retirement Calculator takes about 45 minutes to give you all the data you retrieve, but Michael J. Astrue, Commissioner of Social Security, assures that by fall the time will be reduced to 15 minutes. He also guarantees that more services will be provided online to help their offices manage the big amount of baby boomers that are currently in retirement ages.
By improving the Social Security Calculator, the Social Security Administrator Office joins the multiple services that are now offered online, simplifying procedures for users, who can now carry them out without leaving the comfort of their home.
Posted July 22nd, 2008 by admin_huliq
calculating for early retirement
My husband can retire with 23+ yrs at age 57 with time earned according to the Teamsters contract. The company has been in bank-ruptcy for almost 4 yrs. so future pension is tentative. He stands
a chance of losing some of his pension if he continues to work for
this company.
If he retires now and doesn't work until age 62 (5 yrs) how will his
social security be effected? He doesn't have much chance of earning
the wages he earns with this company as the location we live in simply doesn't offer jobs. Anything he could do would be in the 11-12 dollar an hour range. How does working for less pay effect the
soc.sec. he would receive at age 62. In other words is he better off
working or not working the next 5 yrs as far as his social security
payments go?