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 2025 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 2025 Initial In 2025 Initial In 2025 Initial In 2025 Initial In 2025
1987 $2,205 $666 $1,891 $2,009 $789 $2,238 $1,955 $806 $2,288 $1,861 $825 $2,342 $1,725 $1,056 $2,998
1988 2,311 691 1,882 2,139 838 2,283 2,089 860 2,343 2,040 880 2,398 1,859 1,080 2,941
1989 2,490 739 1,935 2,287 899 2,354 2,217 911 2,387 2,171 936 2,451 2,000 1,063 2,784
1990 2,648 780 1,950 2,417 975 2,438 2,368 984 2,462 2,302 998 2,496 2,154 1,085 2,713
1991 2,792 815 1,935 2,531 1,022 2,426 2,502 1,079 2,561 2,457 1,084 2,573 2,332 1,163 2,761
1992 2,978 860 1,968 2,716 1,088 2,491 2,617 1,113 2,548 2,592 1,175 2,689 2,470 1,231 2,818
1993 3,154 899 1,999 2,878 1,128 2,508 2,801 1,181 2,625 2,708 1,203 2,674 2,605 1,289 2,864
1994 3,384 954 2,067 3,024 1,147 2,485 2,963 1,219 2,641 2,891 1,276 2,764 2,758 1,358 2,941
1995 3,493 972 2,048 3,219 1,199 2,526 3,112 1,248 2,629 3,055 1,319 2,779 2,896 1,474 3,105
1996 3,657 1,006 2,067 3,402 1,248 2,564 3,306 1,300 2,671 3,201 1,352 2,777 3,012 1,501 3,082
1997 3,877 1,056 2,108 3,634 1,326 2,647 3,490 1,364 2,723 3,396 1,412 2,819 3,189 1,609 3,213
1998 4,144 1,117 2,184 3,750 1,342 2,624 3,724 1,437 2,810 3,584 1,477 2,887 3,348 1,648 3,221
1999 4,463 1,191 2,300 3,926 1,373 2,649 3,847 1,451 2,801 3,822 1,544 2,979 3,496 1,684 3,250
2000 4,775 1,248 2,350 4,161 1,435 2,702 4,031 1,502 2,829 3,954 1,585 2,984 3,707 1,752 3,300
2001 5,126 1,314 2,391 4,440 1,538 2,797 4,272 1,593 2,899 4,144 1,657 3,015 3,912 1,879 3,418
2002 5,499 1,382 2,451 4,770 1,660 2,944 4,555 1,692 3,001 4,390 1,750 3,103 4,165 1,988 3,525
2003 5,729 1,412 2,469 5,099 1,721 3,010 4,890 1,814 3,172 4,679 1,836 3,212 4,321 2,045 3,576
2004 5,892 1,422 2,436 5,457 1,784 3,056 5,219 1,894 3,245 5,015 1,989 3,407 4,532 2,111 3,616
2005 6,137 1,452 2,423 5,827 1,874 3,126 5,574 1,982 3,305 5,341 2,088 3,483 4,786 2,252 3,756
2006 6,515 1,530 2,453 6,058 1,961 3,143 5,940 2,108 3,378 5,692 2,223 3,563 5,072 2,420 3,878
2007 6,852 1,598 2,478 6,229 1,998 3,099 6,177 2,194 3,404 6,062 2,348 3,642 5,406 2,672 4,145
2008 7,260 1,682 2,550 6,479 2,030 3,079 6,350 2,212 3,355 6,300 2,432 3,688 5,733 2,794 4,236
2009 7,685 1,769 2,535 6,861 2,172 3,113 6,606 2,323 3,330 6,480 2,539 3,639 6,090 3,054 4,377
2010 7,949 1,820 2,608 7,189 2,191 3,141 6,976 2,346 3,363 6,728 2,532 3,630 6,450 3,119 4,470
2011 7,928 1,803 2,584 7,579 2,249 3,223 7,299 2,366 3,391 7,091 2,555 3,662 6,683 3,193 4,576
2012 8,199 1,855 2,567 7,973 2,310 3,196 7,680 2,513 3,477 7,407 2,666 3,689 6,852 3,266 4,518
2013 8,539 1,923 2,616 8,230 2,414 3,284 8,074 2,533 3,446 7,788 2,780 3,782 7,095 3,350 4,557
2014 8,890 1,992 2,671 8,229 2,431 3,259 8,335 2,642 3,541 8,182 2,795 3,747 7,452 3,425 4,590
2015 9,066 2,025 2,668 8,479 2,452 3,231 8,314 2,663 3,510 8,417 2,916 3,844 7,747 3,501 4,613
2016 9,431 2,102 2,770 8,782 2,491 3,283 8,556 2,639 3,478 8,395 2,891 3,810 8,090 3,576 4,712
2017 9,784 2,153 2,830 9,076 2,542 3,340 8,843 2,687 3,530 8,624 2,870 3,771 8,426 3,538 4,649
2018 9,936 2,158 2,780 9,243 2,589 3,335 9,144 2,788 3,592 8,918 2,973 3,829 8,649 3,698 4,763
2019 10,296 2,209 2,769 9,578 2,757 3,456 9,300 2,861 3,585 9,204 3,106 3,893 8,635 3,770 4,724
2020 10,683 2,265 2,794 9,919 2,857 3,523 9,636 3,011 3,714 9,366 3,150 3,886 8,864 3,790 4,675
2021 11,098 2,324 2,830 10,074 2,841 3,459 9,979 3,113 3,790 9,704 3,306 4,025 9,150 3,895 4,743
2022 11,430 2,364 2,718 10,437 2,993 3,441 10,141 3,240 3,725 10,049 3,568 4,103 9,446 4,194 4,822
2023 12,427 2,572 2,721 10,824 3,279 3,468 10,503 3,506 3,708 10,217 3,808 4,028 9,628 4,555 4,818
2024 13,100 2,710 2,778 11,256 3,426 3,512 10,911 3,652 3,744 10,600 3,911 4,008 9,990 4,873 4,995
2025 13,689 2,831 2,831 11,621 3,374 3,374 11,351 3,795 3,795 11,017 4,043 4,043 10,367 5,108 5,108
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.