As explained in §404.212, we use one of the formulas below to compute your primary insurance amount from your average indexed monthly earnings (AIME). To select the appropriate formula, we find in the left-hand column the year after 1978 in which you reach age 62, or become disabled, or die before age 62. The benefit formula to be used in computing your primary insurance amount is on the same line in the right-hand columns. For example, if you reach age 62 or become disabled or die before age 62 in 1979, then we compute 90 percent of the first $180 of AIME, 32 percent of the next $905 of AIME, and 15 percent of AIME over $1,085. After we figure your amount for each step in the formula, we add the amounts. If the total is not already a multiple of $0.10, we round the total as follows:

(1) For computations using the benefit formulas in effect for 1979 through 1982, we round the total upward to the nearest $0.10, and

(2) For computations using the benefit formulas in effect for 1983 and later, we round the total downward to the nearest $0.10.

Benefit Formulas

Open Table
Year you reach age 621 90 percent of the first— plus 32 percent of the next— plus 15 percent of AIME over—
1979 $180 $905 $1,085
1980 194 977 1,171
1981 211 1,063 1,274
1982 230 1,158 1,388
1983 254 1,274 1,528
1984 267 1,345 1,612
1985 280 1,411 1,691
1986 297 1,493 1,790
1987 310 1,556 1,866
1988 319 1,603 1,922
1989 339 1,705 2,044
1990 356 1,789 2,145
1991 370 1,860 2,230
1992 387 1,946 2,333

1Or become disabled or die before age 62.

[57 FR 44096, Sept. 24, 1992; 57 FR 45878, Oct. 5, 1992]


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