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March 15, 2005
So, What Was In The Mail?
Yesterday, I received a very pleasant letter from the nice folks at the Social Security Administration. It informed that at my current earnings rate:-At age 62 my Social Security benefit would be $960 a month. -If I continued working until age 67 my benefit would be $1,438 a month -If I continued working until age 70 my benefit would be $1,783 a month.What relieved me greatly was nowhere did it tell me that Social Security is only legally obligated to pay me only 73% of my benefits in 2042. Since I’ll be 72 that year, what reform proponents have been warning me about has concerned me greatly. That would mean that if I had retired:
-At age 62 my benefit would be reduced to $700 -At age 65 my benefit would be reduced to $1,050 -At age 70 my benefit would be reduced to $1,302.But since the pleasant letter from the nice folks at the Social Security Administration didn’t mention anything about 2042, it must not be true. After all, the government always tells us the full details. Boy, do I feel better!
Posted by David Hogberg at March 15, 2005 4:20 PM | Print
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