Workers with Maximum-Taxable Earnings

Worker with steady earnings at the maximum level since age 22
Retirement in Jan. Retirement at age 62 a Retirement at age 65 b Retirement at age 66 c Retirement at age 67 d Retirement at age 70 e
AIME Monthly benefits AIME Monthly benefits AIME Monthly benefits AIME Monthly benefits AIME Monthly benefits
Initial In 2024 Initial In 2024 Initial In 2024 Initial In 2024 Initial In 2024
1987 $2,205 $666 $1,845 $2,009 $789 $2,184 $1,955 $806 $2,232 $1,861 $825 $2,285 $1,725 $1,056 $2,925
1988 2,311 691 1,836 2,139 838 2,227 2,089 860 2,286 2,040 880 2,339 1,859 1,080 2,870
1989 2,490 739 1,887 2,287 899 2,297 2,217 911 2,329 2,171 936 2,392 2,000 1,063 2,717
1990 2,648 780 1,903 2,417 975 2,379 2,368 984 2,401 2,302 998 2,435 2,154 1,085 2,647
1991 2,792 815 1,887 2,531 1,022 2,367 2,502 1,079 2,498 2,457 1,084 2,511 2,332 1,163 2,694
1992 2,978 860 1,920 2,716 1,088 2,430 2,617 1,113 2,486 2,592 1,175 2,623 2,470 1,231 2,749
1993 3,154 899 1,950 2,878 1,128 2,447 2,801 1,181 2,561 2,708 1,203 2,609 2,605 1,289 2,794
1994 3,384 954 2,016 3,024 1,147 2,424 2,963 1,219 2,577 2,891 1,276 2,697 2,758 1,358 2,870
1995 3,493 972 1,998 3,219 1,199 2,464 3,112 1,248 2,565 3,055 1,319 2,712 2,896 1,474 3,029
1996 3,657 1,006 2,016 3,402 1,248 2,502 3,306 1,300 2,606 3,201 1,352 2,709 3,012 1,501 3,007
1997 3,877 1,056 2,057 3,634 1,326 2,583 3,490 1,364 2,657 3,396 1,412 2,750 3,189 1,609 3,134
1998 4,144 1,117 2,131 3,750 1,342 2,560 3,724 1,437 2,742 3,584 1,477 2,817 3,348 1,648 3,142
1999 4,463 1,191 2,243 3,926 1,373 2,585 3,847 1,451 2,733 3,822 1,544 2,906 3,496 1,684 3,171
2000 4,775 1,248 2,292 4,161 1,435 2,636 4,031 1,502 2,760 3,954 1,585 2,912 3,707 1,752 3,219
2001 5,126 1,314 2,332 4,440 1,538 2,729 4,272 1,593 2,828 4,144 1,657 2,941 3,912 1,879 3,335
2002 5,499 1,382 2,391 4,770 1,660 2,872 4,555 1,692 2,928 4,390 1,750 3,027 4,165 1,988 3,439
2003 5,729 1,412 2,408 5,099 1,721 2,937 4,890 1,814 3,095 4,679 1,836 3,134 4,321 2,045 3,489
2004 5,892 1,422 2,377 5,457 1,784 2,982 5,219 1,894 3,166 5,015 1,989 3,324 4,532 2,111 3,528
2005 6,137 1,452 2,364 5,827 1,874 3,050 5,574 1,982 3,225 5,341 2,088 3,398 4,786 2,252 3,664
2006 6,515 1,530 2,393 6,058 1,961 3,066 5,940 2,108 3,295 5,692 2,223 3,476 5,072 2,420 3,784
2007 6,852 1,598 2,418 6,229 1,998 3,024 6,177 2,194 3,321 6,062 2,348 3,553 5,406 2,672 4,044
2008 7,260 1,682 2,487 6,479 2,030 3,004 6,350 2,212 3,273 6,300 2,432 3,598 5,733 2,794 4,133
2009 7,685 1,769 2,474 6,861 2,172 3,037 6,606 2,323 3,249 6,480 2,539 3,551 6,090 3,054 4,270
2010 7,949 1,820 2,544 7,189 2,191 3,064 6,976 2,346 3,281 6,728 2,532 3,541 6,450 3,119 4,361
2011 7,928 1,803 2,521 7,579 2,249 3,145 7,299 2,366 3,308 7,091 2,555 3,572 6,683 3,193 4,464
2012 8,199 1,855 2,504 7,973 2,310 3,118 7,680 2,513 3,392 7,407 2,666 3,599 6,852 3,266 4,408
2013 8,539 1,923 2,552 8,230 2,414 3,204 8,074 2,533 3,362 7,788 2,780 3,689 7,095 3,350 4,446
2014 8,890 1,992 2,605 8,229 2,431 3,179 8,335 2,642 3,455 8,182 2,795 3,655 7,452 3,425 4,479
2015 9,066 2,025 2,603 8,479 2,452 3,152 8,314 2,663 3,425 8,417 2,916 3,750 7,747 3,501 4,501
2016 9,431 2,102 2,703 8,782 2,491 3,203 8,556 2,639 3,393 8,395 2,891 3,717 8,090 3,576 4,598
2017 9,784 2,153 2,761 9,076 2,542 3,258 8,843 2,687 3,444 8,624 2,870 3,679 8,426 3,538 4,535
2018 9,936 2,158 2,712 9,243 2,589 3,254 9,144 2,788 3,504 8,918 2,973 3,736 8,649 3,698 4,647
2019 10,296 2,209 2,701 9,578 2,757 3,371 9,300 2,861 3,497 9,204 3,106 3,798 8,635 3,770 4,609
2020 10,683 2,265 2,726 9,919 2,857 3,437 9,636 3,011 3,623 9,366 3,150 3,791 8,864 3,790 4,561
2021 11,098 2,324 2,761 10,074 2,841 3,375 9,979 3,113 3,698 9,704 3,306 3,927 9,150 3,895 4,628
2022 11,430 2,364 2,652 10,437 2,993 3,357 10,141 3,240 3,634 10,049 3,568 4,003 9,446 4,194 4,705
2023 12,427 2,572 2,654 10,824 3,279 3,384 10,503 3,506 3,618 10,217 3,808 3,930 9,628 4,555 4,700
2024 13,100 2,710 2,710 11,256 3,426 3,426 10,911 3,652 3,652 10,600 3,911 3,911 9,990 4,873 4,873
a Retirement at age 62 is assumed here to be at exact age 62 and 1 month. Such early retirement results in a reduced monthly benefit.
b Retirement at age 65 is assumed to be at exact age 65 and 0 months. For retirement in 2003 and later, the monthly benefit is reduced for early retirement. (For people born before 1938, age 65 is the normal retirement age. Normal retirement age will gradually increase to age 67.)
c Retirement at age 66 is assumed to be at exact age 66 and 0 months. Age 66 is the normal retirement age for people born in 1943-54. People who retired at age 66 and who were born before 1943 received delayed retirement credits; those born after 1954 will have their benefits reduced for early retirement. Thus, for retirement in 2021 and later, the monthly benefit is reduced for early retirement.
d Retirement at age 67 is assumed to be at exact age 67 and 0 months. Age 67 is the normal retirement age for people born in 1960 and later. People who retired at age 67 and who were born before 1960 received delayed retirement credits.
e Retirement at age 70 maximizes the effect of delayed retirement credits.
Note: Initial monthly benefits paid at ages 65, 66, 67, and 70 in 2000-2001 were slightly lower than the amounts shown above because such initial benefits were partially based on a cost-of-living adjustment (COLA) for December 1999 that was originally determined as 2.4 percent based on CPIs published by the Bureau of Labor Statistics. Pursuant to Public Law 106-554, however, this COLA is effectively now 2.5 percent, and the above figures reflect the benefit change required by this legislation.