The Social Security automatic cost-of-living adjustment for
December 2021 and the wage-indexed amounts for 2022 were
announced in the fall of 2021. More information on these
automatic adjustments is available.
The 2021.1 version of the Social Security Benefit
Calculator can be updated to include the newly announced
amounts. The amounts required for updating the 2021 version
of the Social Security Benefit Calculator are as
- Cost-of-living adjustment for December 2021: 5.9 percent
- National average wage index for 2020: $55,628.60
- Contribution and benefit base for 2022: $147,000
- "Old-law" contribution and benefit base for 2022: $109,200
To update a 2021 version of the calculator, choose
Properties from the main menu, then Historical
Amounts, then Update. If the dialog box that appears
requests amounts for 2022, enter the above amounts.
If it requests amounts for 2023 or later, then the
amounts for 2022 computations have already been entered. In that
case, press Cancel, then choose Properties,
Historical Amounts, and Modify. In the dialog box
that appears, press Next Year or Previous Year
until it requests amounts for 2022 computations. Then enter the above
When you are ready to use the newly entered amounts, choose
Properties from the main menu, then Computation
Year. In the dialog box that appears, enter 2022.
The calculator will now produce 2022-style estimates, except that
the stored assumptions (from the 2021 or older Trustees Report) will
not be updated. To have a fully up-to-date calculator, you should
download the new version.