Social SecurityBenefits fot Those Born in 1960

AARP published an article awhile back about the "hit" to the benefits that will go to those seniors born in 1960. It stated there was a glitch in the system and was affected by Covid, reducing benefits for a lifetime. I keep checking to see if anything has changed. I contacted my Congressmen, but heard nothing back. Any news?

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Honored Social Butterfly

Although there was some legislation introduced to fix this potential problem, it appears it wasn't needed since it was handled in-house by the SSA or so it seems.  It seems they did it by adjusting upward the 2020 Average Wage Index which is used in computing benefits. National Average Wage Index


How they did it is at the bottom of the page entitled:  Determination of the National Average Wage Index for 2020


Also see page 19 of this SSA 2021 analysis of potential covid problems: 

from the link:  

What do we know now? Because the economy rebounded so quickly, and those who lost jobs or had decreased earnings in 2020 were mainly parttime and/or lower paid workers, total wages in 2020 increased and the AWI is now expected to increase for 2020



It's Always Something . . . . Roseanna Roseannadanna
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