More Than Finances

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A Big Pay Raise Is on the Way for Retirees and Disabled Vets

retirees and disabled vets

In 2019, military retirees and disabled veterans will get the largest pay raise they’ve seen in seven years. Pay will go up by 2.8 percent. This amounts to a $369 increase for those at the highest end of the retirement chart. The rise is a bump known as a cost-of-living adjustment (COLA).

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How To Calculate Social Security Benefits

how to calculate your social security benefits

Understanding the steps to calculate social security benefits may not be the easiest thing in the world to do, but here’s my attempt to demystify the process.

There are two basic steps to determining your monthly benefits. The first step is computing your average indexed monthly earnings, or AIME. The second step, which incorporates the AIME, is to determine your primary insurance amount, or PIA. The PIA is the basis needed to calculate social security benefits that are paid to you when you retire.

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