Born in 1960 Social Security benefit affected?

[DaveD565078]

hI. An article appeared in the January 2021 Bulletin titled, ""Born in 1960? Prepare for a Social Security Hit." In this article, it said that people who were born in 1960 could take as much as a 9% benefit decrease (for life) because of lower wages earned in 2020 because Covid affected the "average wage index." AARP urged members to contact Congress to fix this. I did, but I never heard from my congresswoman. So I am asking: Has this been fixed? It would seem to be OUTrageous if it were not. A 9% reduction in benefits because income levels were down in 2020?? That doesn't make sense. But I would like to verify that this issue has been resolved. Thank you.

[GailL1]

Actually, it turned out to not be that bad of a problem - the AWI adjustment had been worse in other years when the economy had been the culprit like 2009 and the Great Recession.

Congress.gov - Congressionsal Research Report 09/22/2021 - Social Security: The Average Wage Index

The. AWI calculations always rise (and sometimes falls) based on what is happening in the economy - when the “crying wolf” started, there was only a guess at what would be the results - that turned out to be much less of a problem than they thought especially since there had been other times in history when the result was worse.