A portion of my work history was not covered by Social Security (an employee of a state with exempt status); consequently, the usual SS benefits estimators (including the annual SS statement) do not apply (because of 'WEP' legislation enacted in early 1980's). In planning for retirement, has anyone had experience with using the (downloadable) "AnyPIA" calculator provided by SS. Is it reliable/accurate; are there any special features or pitfalls that one needs to be aware of when using it; etc? [ I would like to be able to generate, at my convenience, a reasonably accurate estimate of my future SS benefit amount as I approach retirement, but taking into account such things as rates of inflation, COLA's (announced or projected), salary changes, etc. - ie., I do not want to keep requesting revised/updated estimates from SS; but rather want to be able to generate these on my own.] Any info or your experiences appreciated.
Being one of those out there who lost half or more of their retirement in the stock disaster, I apreciate TIAA-CREF and wish I'd put more in retirement 20 years ago!
Anyway, I check and recalculate what I think we will live on for the future with: moneycentral.msn.com/retire/planner.aspx
I'm not sure how accurate it is with Social Security, but I just write in the extra that we will be earning. It does give a good ball park figure of how long your assets will survive, especially with the terrible interest rates of the present and the losses in the stock market. Good luck.
Why not go to the official source of the information you are seeking, rather than rely on "non-SSA" advice?
I use the program all the time and love it. I have run some WEP calculations but have never had an official estimate from the social security agency so I have never know whether I was doing it right. There aren't many bells and whistles. It asks for the numbers off your social security statement, some personal data, and your non-covered pension amount. I think (but can't guarantee) that if you can reproduce your SS statement (get one if you don't have it), you will be ok by just adding the non-covered pension information. The calculations are better as you get closer to retirement. The help file is good but not perfect.
Can't you get your SS office to do this estimate for you?
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