Workers with Maximum-Taxable Earnings

Social Security benefits depend on earnings
The amount of a person's retirement benefit depends primarily on his or her lifetime earnings. We index such earnings (that is, convert past earnings to approximately their equivalent values near the time of the person's retirement) using the national average wage index. See how we use earnings to compute a retirement benefit amount.

Benefit Examples For Workers With Maximum-Taxable Earnings
The initial benefit amounts shown in the table below assume retirement in January of the stated year, with maximum-taxable earnings since age 22. Benefits in 2026 reflect subsequent automatic benefit increases (if any). The table shows Average Indexed Monthly Earnings (AIME)—an amount that summarizes a person's earnings—and the corresponding monthly benefit amounts. Retirement at age 70 produces the highest ratio of retirement benefit to AIME.

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 2026 Initial In 2026 Initial In 2026 Initial In 2026 Initial In 2026
1987 $2,205 $666 $1,944 $2,009 $789 $2,301 $1,955 $806 $2,352 $1,861 $825 $2,407 $1,725 $1,056 $3,082
1988 2,311 691 1,935 2,139 838 2,347 2,089 860 2,409 2,040 880 2,465 1,859 1,080 3,024
1989 2,490 739 1,989 2,287 899 2,420 2,217 911 2,454 2,171 936 2,520 2,000 1,063 2,862
1990 2,648 780 2,005 2,417 975 2,506 2,368 984 2,530 2,302 998 2,566 2,154 1,085 2,789
1991 2,792 815 1,989 2,531 1,022 2,494 2,502 1,079 2,632 2,457 1,084 2,645 2,332 1,163 2,839
1992 2,978 860 2,023 2,716 1,088 2,561 2,617 1,113 2,619 2,592 1,175 2,764 2,470 1,231 2,897
1993 3,154 899 2,055 2,878 1,128 2,578 2,801 1,181 2,699 2,708 1,203 2,749 2,605 1,289 2,944
1994 3,384 954 2,124 3,024 1,147 2,554 2,963 1,219 2,715 2,891 1,276 2,841 2,758 1,358 3,024
1995 3,493 972 2,106 3,219 1,199 2,597 3,112 1,248 2,703 3,055 1,319 2,857 2,896 1,474 3,192
1996 3,657 1,006 2,125 3,402 1,248 2,636 3,306 1,300 2,745 3,201 1,352 2,855 3,012 1,501 3,169
1997 3,877 1,056 2,167 3,634 1,326 2,721 3,490 1,364 2,799 3,396 1,412 2,898 3,189 1,609 3,303
1998 4,144 1,117 2,245 3,750 1,342 2,698 3,724 1,437 2,889 3,584 1,477 2,968 3,348 1,648 3,311
1999 4,463 1,191 2,364 3,926 1,373 2,723 3,847 1,451 2,879 3,822 1,544 3,062 3,496 1,684 3,341
2000 4,775 1,248 2,415 4,161 1,435 2,778 4,031 1,502 2,908 3,954 1,585 3,068 3,707 1,752 3,392
2001 5,126 1,314 2,458 4,440 1,538 2,876 4,272 1,593 2,980 4,144 1,657 3,099 3,912 1,879 3,514
2002 5,499 1,382 2,520 4,770 1,660 3,026 4,555 1,692 3,085 4,390 1,750 3,189 4,165 1,988 3,624
2003 5,729 1,412 2,538 5,099 1,721 3,095 4,890 1,814 3,261 4,679 1,836 3,302 4,321 2,045 3,676
2004 5,892 1,422 2,504 5,457 1,784 3,142 5,219 1,894 3,336 5,015 1,989 3,502 4,532 2,111 3,717
2005 6,137 1,452 2,491 5,827 1,874 3,213 5,574 1,982 3,398 5,341 2,088 3,581 4,786 2,252 3,861
2006 6,515 1,530 2,521 6,058 1,961 3,231 5,940 2,108 3,472 5,692 2,223 3,662 5,072 2,420 3,987
2007 6,852 1,598 2,548 6,229 1,998 3,186 6,177 2,194 3,499 6,062 2,348 3,744 5,406 2,672 4,261
2008 7,260 1,682 2,621 6,479 2,030 3,165 6,350 2,212 3,449 6,300 2,432 3,791 5,733 2,794 4,355
2009 7,685 1,769 2,606 6,861 2,172 3,200 6,606 2,323 3,423 6,480 2,539 3,741 6,090 3,054 4,499
2010 7,949 1,820 2,681 7,189 2,191 3,228 6,976 2,346 3,457 6,728 2,532 3,731 6,450 3,119 4,595
2011 7,928 1,803 2,657 7,579 2,249 3,314 7,299 2,366 3,485 7,091 2,555 3,764 6,683 3,193 4,704
2012 8,199 1,855 2,639 7,973 2,310 3,285 7,680 2,513 3,574 7,407 2,666 3,792 6,852 3,266 4,644
2013 8,539 1,923 2,689 8,230 2,414 3,376 8,074 2,533 3,543 7,788 2,780 3,888 7,095 3,350 4,685
2014 8,890 1,992 2,745 8,229 2,431 3,350 8,335 2,642 3,640 8,182 2,795 3,852 7,452 3,425 4,719
2015 9,066 2,025 2,743 8,479 2,452 3,321 8,314 2,663 3,608 8,417 2,916 3,951 7,747 3,501 4,743
2016 9,431 2,102 2,848 8,782 2,491 3,375 8,556 2,639 3,575 8,395 2,891 3,916 8,090 3,576 4,844
2017 9,784 2,153 2,909 9,076 2,542 3,433 8,843 2,687 3,629 8,624 2,870 3,877 8,426 3,538 4,779
2018 9,936 2,158 2,858 9,243 2,589 3,429 9,144 2,788 3,693 8,918 2,973 3,936 8,649 3,698 4,897
2019 10,296 2,209 2,846 9,578 2,757 3,552 9,300 2,861 3,685 9,204 3,106 4,002 8,635 3,770 4,857
2020 10,683 2,265 2,872 9,919 2,857 3,622 9,636 3,011 3,818 9,366 3,150 3,994 8,864 3,790 4,806
2021 11,098 2,324 2,909 10,074 2,841 3,556 9,979 3,113 3,896 9,704 3,306 4,138 9,150 3,895 4,876
2022 11,430 2,364 2,794 10,437 2,993 3,538 10,141 3,240 3,829 10,049 3,568 4,218 9,446 4,194 4,957
2023 12,427 2,572 2,797 10,824 3,279 3,565 10,503 3,506 3,812 10,217 3,808 4,141 9,628 4,555 4,953
2024 13,100 2,710 2,855 11,256 3,426 3,610 10,911 3,652 3,848 10,600 3,911 4,121 9,990 4,873 5,135
2025 13,689 2,831 2,910 11,621 3,374 3,468 11,351 3,795 3,901 11,017 4,043 4,156 10,367 5,108 5,251
2026 14,358 2,969 2,969 12,602 3,467 3,467 11,724 3,752 3,752 11,463 4,207 4,207 10,593 5,181 5,181
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.