How to Score an Extra $1,983 Per Social Security Check
Thanks to some of the highest levels of inflation seen in more than four decades in 2022, Social Security retirees got a nice 8.7% bump to their benefits this year, which is much needed with consumer prices and inflation still quite high.
But Social Security's annual cost-of-living-adjustment isn't the only way retirees can increase their benefits. In fact, given the complex rules associated with the program, retirees and workers thinking about Social Security can take several measures to boost their benefits. Here's how to score an extra $1,983 per Social Security check or an additional $23,796 annually in higher benefits.
The first thing to understand is that the Social Security Administration (SSA) calculates your primary insurance amount (PIA), the full benefits a retiree is entitled to at their full retirement age (FRA), based on the number of years a person works and how much that person makes. For people born in 1960 or after, their FRA is 67.
Source Fool.com
