Question

monthly benefits the social security administration has a computerized service that determines your benefits because social security benefits are based on a fairly complicated formula. in fact, the government is required to provide all covered workers with a social security statement.

Answer 1

The Social Security Administration has a computerized service that determines monthly benefits based on a complicated formula. The program offers retirement, disability, and supplemental security income benefits.

Step-by-step explanation:

Monthly benefits from the Social Security Administration are determined through a computerized service that uses a complicated formula. The government is required to provide all covered workers with a Social Security statement. There are three types of benefits offered by the Social Security program: retirement benefits for workers aged 65 and older, disability benefits for workers who become unable to work due to disability, and supplemental security income for adults or children with significant disability or elderly individuals who fall below an income threshold.

Answer 2

If you retire at age 62, benefits of70to80% of your full retirement benefits .

If you retire at age 65 to 67, receipt of your full retirement benefits

If you delay retirement until age 70, you can receive an increase in your benefits

The Social Security Administration (SSA) uses a computerized service to determine your benefits because Social Security benefits are based on a fairly complicated formula. In fact, the government is required to provide all covered workers with a Social Security statement.

One can You can get a personalized estimate of your Social Security benefits by creating an account on the Social Security website. You can also request a copy of your Social Security statement by calling the SSA at 1-800-772-1213.