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People born in 1960 won't earn less in Social Security benefits
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VERIFY viewer Kevin asked if people born in 1960 will earn less Social Security because of a quirk in the payment formula. To look into it, we turned to the Social Security Administration, The Senior Citizens League and AARP.
QUESTION: Will people born in 1960 earn less in Social Security because of a quirk in the payment formula?
ANSWER: No, they will not earn less because of the quirk. If the pandemic had caused average wages in 2020 to drop, Social Security benefits would have been adjusted downward as well. However, wages actually increased in 2020.
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Find us on social @verifythis.
QUESTION: Will people born in 1960 earn less in Social Security because of a quirk in the payment formula?
ANSWER: No, they will not earn less because of the quirk. If the pandemic had caused average wages in 2020 to drop, Social Security benefits would have been adjusted downward as well. However, wages actually increased in 2020.
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Find us on social @verifythis.
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