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What is the maximum Social Security benefit in 2019?
Maximum Social Security Benefit 2007 . Social Security income Social Security is based on a sliding scale depending on your income, how long you work and at what age you re…tire. Social Security benefits can automatically increase each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits by 1.5 times your individual estimated benefit. Please note that this calculator assumes that you have only one working spouse. Benefits could be different if your spouse worked and earned a benefit higher than one half of your benefit. If you are a married couple, and both spouses work, you may need to run the calculation twice - once for each spouse and their respective income. This calculator provides only an estimate of your benefits. The calculations use the 2007 FICA income limit of $97,500 with an annual maximum Social Security benefit of $25,392 per year for a single person and 1.5 times this amount for a married couple. To receive the maximum benefit would require earning the maximum FICA salary for nearly your entire career. You would also need to begin receiving benefits at your full retirement age of 66 or 67 (depending on your birthdate). Your actual benefit may be lower or higher depending on your work history and the complete compensation rules used by Social Security. . (MORE)
Typically, a disabled worker may expect to receive $1,067 in disability payments every month. However, if the claimant has a spouse and a child, the average monthly social sec…urity benefits may increase up to $1,813. Monthly SSI benefits are lower and single beneficiaries may receive $674 monthly but for couples, the payment may increase to $1,011. In 2010, the maximum individual benefit is $2,346 , which assumes 35 working years paying the maximum FICA contribution. A disabled person with a family can receive a maximum family benefit for a qualifying spouse and children of $4,222.80. These numbers are unrealistic for most people, however. In 2010, the average disability benefit is $1,065.90 . The average payment for qualifying minor dependents is $317.10 each, terminating the month before the child turns 18 (or 19 if still in high school). Under certain circumstances, the spouse of a disabled individual may also collect a small monthly stipend, averaging about $286.70 per month. The family maximum is 150-180% of the disabled worker's benefit. (MORE)
In 2010, the maximum individual benefit is $2,346 . This assumes the person retires at the full retirement age of 66, and has made the maximum FICA contribution every year si…nce age 21, an unusual scenario. The average monthly payment at the beginning of 2010 was $1,164.00 . (MORE)