The Social Security calculations in Silver estimate a spousal benefit for married couples. The calculations compare the spousal benefit to the individual benefit. The projections use the higher of the two benefits.
Certain situations and government provisions, such as the Government Pension Offset and the Windfall Elimination Provision, can reduce Social Security benefits.
The new “use amount” option overrides calculated spousal benefit. This ensures the projections use the benefit amount entered.
Here’s a quick example:
Estimated Social Security benefits are entered for both Ind. 1 and Ind. 2., who are married. The new “use amount” option is not checked.
The reports are using a higher Social Security benefit for Ind. 2 is than the benefit entered. The calculations estimated a higher spousal benefit than the entered benefit amount.
Select “use amount” on the Social Security input to ensure the reports use the benefit amount entered.
The reports now use the benefit amount entered.
Note: The Social Security amount included in the projection grows by the increase rate and the benefit is reduced for taxes. To clearly illustrate this new option a 0% increase and tax rate was used for the example.
