Determining Your Social Security Benefits (T Verrett)

Projecting Your Social Security Benefits
Using the
Social Security Website
A Guide for Pre-Retirees
Prepared By and Provided Courtesy of
Provided as a courtesy for educational purposes only. Not warranted by the Social Security Administration.
Brokers Alliance, Inc, disclaims any liability for the use of this information.
TRIUMVIRATE CAPITAL GROUP, INC
15165 VENTURA BLVD., SUITE 245
SHERMAN OAKS, CA 91403
TEVIS VERRETT
CORPORATE OFFICES CA/MI: 844.341.9992

For use with non-registered products only. The insurance products described may be issued by various companies and may not be available in all states, and state variations may apply. All references
to insurance products are subject to the contractual terms and conditions of the issuer. These materials are provided for educational purposes Brokers Alliance, Inc., makes no representation regarding
the suitability of the concepts or products for an individual, and this should not be construed as providing tax or legal advice. You should consult your own tax and/or legal advisors before purchasing
these products. To ensure compliance with requirements imposed by the IRS, we inform you that, unless expressly stated otherwise, any U.S. federal tax advice contained in this communication
(including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing, or
recommending to another party any transaction or matter addressed herein.
© 2014 Brokers Alliance, Inc.
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INTRODUCTION
Social Security benefits provide a significant portion of
total retirement income for most Americans, thus it is
important when doing retirement planning to have as
accurate as possible estimate of your benefits.
This document is focused upon using the Social
Security website to assist you in obtaining benefit
projections for use in your retirement planning.
The Social Security Administration provides two key tools to
assist you in projecting your future retirement benefits:
 Annual Social Security Statement
No longer printed and mailed, the Annual Social Security
Statement can only be obtained via the website. The
statement provides estimated retirement benefits only at Full
Retirement Age, Age 62, and at age 70. To obtain your annual
statement, you must first create an online User Name and
Password. Instructions for creating an account are at page 3,
the statement is detailed at page 5.
 Retirement Estimator
The Retirement Estimator is an online tool that allows
retirement benefit scenario estimates at different ages and at
different projected annual earnings until retirement, thus is
typically of greater value in retirement income planning.
You are not required to create an online User Name and
Password to access the Retirement Estimator, but are
required to provide personal information intended to verify
their identity. Step-by-step instructions for accessing and
using the Retirement Estimator begin at page 6.
Two Key Tools for
Determining
Projected Benefits.
Determining Your Projected Social Security Benefits

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Your Annual Social Security Statement
No longer printed and mailed annually, the Annual Social Security Statement can only be obtained via the
website. To obtain your annual statement, you must first create an online User Name and Password.
To Create a User Name and Password:
 Go to www.ssa.gov. The Social Security site
will appear similar to that shown to the right.
 Click on My Social Security; Sign In or
Create an Account icon at the center of the
page.
 The Create Sign In or Create An Account
page will appear as shown at the right.
 Scroll down and click on the Create an
Account button at the lower left corner of the
page.
 Follow the instructions to create the account
User Name and Password.
Continued at next page…
Create an Account

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Accessing Your
Annual Social Security Statement
 After your account is established, the My
Social Security page will appear similar to that
shown at the right.
 At the lower left corner of the page, click on
the Print/Save Your Full Statement button.
 Your statement will appear in PDF format for
printing and/or saving.
That’s it - you have obtained
Your Social Security Statement.
Your Annual Social Security Statement is
detailed at the following page.

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Your Annual Social Security Statement
The statement consists of four pages:
 Cover, Page 1
 Your Estimated Benefits, Page 2
 Your Earnings Record, Page 3
 Some Facts About Social Security, Page 4
For estimated retirement benefits, go to the top of page 2 as shown below.
The statement provides estimated retirement benefits only at three ages:
 Full Retirement Age, or “FRA” (value shown is the projected Primary Insurance Amount).
 Age 70 (the age at which maximum benefits are attained).
 Age 62 (the earliest age for benefits, reflecting the benefit reduction prior to FRA).
The estimates shown on the statement reflect:
 The individuals Social Security earnings record, and;
 Assume that their reported earnings from two years prior continue until retirement (i.e. the
2014 statement assumes the same annual income as reported in 2012).
When forecasting retirement income, you may need different information than is shown
on the Annual Social Security Statement; for example, you may want to estimate benefits
at different ages than shown, or at different estimated future earnings. Both can be
accomplished by using the Retirement Estimator on the website. Instructions for using
the Retirement Estimator are at the following pages.

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The Retirement Estimator
The Retirement Estimator is an online tool that allows retirement benefit scenario estimates at different
ages and at different projected annual earnings until retirement, thus is typically of greater value in
retirement income planning. You are not required to create an online User Name and Password to access
the Retirement Estimator, but are required to provide personal information intended to verify their identity.
To Access the Retirement Estimator
 Go to www.ssa.gov. The Social Security site
will appear similar to that shown at the right.
 Click on the Retirement Estimator option.
 The retirement estimator information page will
appear similar to that shown at the right.

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 Scroll down to the bottom of the page and
click on the Estimate Your Retirement
Benefits button.
 The Verify Your Identity page will appear
similar to that shown at the right. You need to
enter:
 Your First Name, MI, and Last Name.
 Any Other Last Name used.
 Your Mother’s Maiden Name.
 Your Social Security Number.
 Your Date of Birth.
 Your State of Birth.
 At the bottom of the page is the Terms of
Service Agreement. Click the I agree to the
Terms of Service box.
 Click on the Submit button at the lower left
corner of the screen.

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 You are now in the Retirement Estimator, which will look
similar to that shown at the right.
 Enter your earnings from last year.
Don’t enter more than is subject to FICA taxes, as
any earnings above the FICA limit ($117,000 for
2014) don’t contribute to benefits.
 Your Retirement Benefit Estimate will appear similar to
that shown at the right.
The information shown at this page is the same as shown
on your Annual Social Security Statement, but updated with
your last years earnings:
Full Retirement Age, or “FRA” (value shown is the
projected Primary Insurance Amount).
Age 70 (the age at which maximum benefits are attained).
Age 62 (the earliest age for benefits, reflecting the benefit
reduction prior to FRA).
Now you can run some other estimates.
 At the lower left corner of the page, click on the Add a
New Estimate button.

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 The Add a New Estimate page appears similar to that
shown at the right. Enter:
 The age you want to start benefits (for example, 68).
 Your estimated annual earnings until retirement (for
example, $60,000).
 Click on the Submit button at the lower left corner of the
page.
 Your Retirement Benefit Estimate page appears, similar
to that shown at the right.
The new estimate will appear on top of the previous
estimates. In this example you now have the following
estimates:
Age 68, with earnings of $60,000 annually until
retirement; estimated monthly benefit of $2,520.
 Click on the Add A New Estimate button at the lower left
corner of the page.
 The Add a New Estimate page appears similar to that
shown at the right. Enter:
The age you want to start benefits (for example, 67).
Your estimated annual earnings until retirement (for
example, $75,000).
 Click on the Submit button at the lower left corner of the
page.

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 Your Retirement Benefit Estimate page appears, similar
to that shown at the right.
The new estimate will appear on top of the previous
estimates. In this example you have added a new age 67
estimate:
 Age 67, with earnings of $75,000 annually until
 To the right of each of your custom estimates, you can click
the Edit button if you want to change the estimates.
 To print your retirement estimates, click on the Print this
page button at the upper right corner of the page.
 Click on the Exit button at the lower left corner of the page.
That’s it - you’re finished!

Determining Your Social Security Benefits (T Verrett)

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