§ 404.231 - Steps in computing your primary insurance amount under the guaranteed alternative - general.  


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  • § 404.231 Steps in computing your primary insurance amount under the guaranteed alternative - general.

    If you reach age 62 after 1978 but before 1984, we follow three major steps in finding your guaranteed alternative:

    (a) First, we compute your average monthly wage, as described in § 404.232;

    (b) Second, we find the primary insurance amount that corresponds to your average monthly wage in the benefit table in appendix III.

    (c) Then we apply any automatic cost-of-living or ad hoc increases in primary insurance amounts that have become effective in or after the year you reached age 62.