Tied directly to the user's actual Social Security earnings record, the new online Retirement Estimator eliminates the need to type in years of earnings information.
"The Retirement Estimator greatly improves the information available when trying to decide the right time to retire," said Social Security Commissioner Michael J. Astrue in a press release. "It is simple, easy-to-use and will provide highly accurate benefit estimates for those nearing retirement age. For younger workers, it will provide valuable information to help them plan and save for their retirement."
The Retirement Estimator allows the user to compare different retirement options. For example, a person can change retirement dates or expected future earnings. Individuals also can print out up to three different scenarios at one time, in addition to information about their benefits at age 62 (or current age if older than 62), full retirement age and at age 70.
In addition, Social Security swears the new Retirement Estimator is totally secure. The only thing it provides online is retirement benefit estimates. It does not show the earnings record information on which the final benefit estimate was calculated, nor does it display other personal information.
Also See:
Social Security Primer
About the Supplemental Security Income (SSI) Government Benefit
Comments
Congress people should have salary deductions and pay for SS as any citizen, and also get same benefits rates as we receive for retirement, then, the congress will think about mayority, and work to find the formula to make the benefits equal and fare.