Robert Brokamp
speaker
4,411 appearances
40 recordings
3 series
first heard Oct 2025
last heard 19 Sep
Robert Brokamp’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 40 in all, peaking in Aug 2026 with 5.
Appearances
Now a couple of things about the AMI to keep in mind.
First, there's a cap on how much annual income is subject to Social Security taxes and thus factored into the AMI calculation.
That amount is adjusted each year and for 2026 it is $184,500.
Secondly, years in which you didn't work, you know, maybe because you retired early or you stayed home to raise the kids, will count as zeros in your AME calculation if you don't have at least 35 years of earnings.
So working another year or few, even part-time, will replace some of those zeros and improve your Amy.
All right, the next step in your benefit calculation is to apply the so called bend points to your Amy.
So these bend points are adjusted each year for wage inflation, but are permanently locked in when the worker turns sixty-two.
For those turning that age in 2026, here are those bend points and how they interact with your Amy.
So start with ninety percent of the first $1,286 of the Amy.
plus 32% of the AME between $1,286 and $7,749, plus 15% of the AME above $7,749.
Add those three figures together and you get your primary insurance amount, which we'll discuss in more detail in a bit.
But first, what's the point of those bend points?
Well, Social Security is designed to replace a larger percentage of earnings for lower income workers.
They're sort of like tax brackets in reverse.
According to a report published by the Social Security Administration earlier this year, here are the percentages of pre-retirement income that will be replaced by Social Security for a person born in 1960 who claims benefits at their full retirement age of 67.
based on their career average annual earnings.
So someone who earned thirty-two thousand four hundred dollars over the course of their career on average each year, Social Security is going to replace fifty-five percent of it.
Someone who earned seventy two thousand dollars per year for social security is going to replace forty one percent of that.
Somebody earning $115,000, there's going to be a 34% replacement rate.
And someone who earned $178,000 on average each year, the replacement rate is 27%.
Showing 741–760 of 4,411 · page 38 of 221
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