The Social Security Administration (SSA) calculates your retirement benefits based on your highest 35 years of earnings, adjusted for inflation.

The benefit projections on your Social Security Statement assume you continue to earn at your current rate until you claim your benefit. Reduced or increased earnings between now and then may impact your future benefit.

If you continue to work and earn a higher income, these years can replace low-earning years from earlier in your career, potentially increasing your monthly benefit amount, particularly if you haven’t yet hit 35 full years of strong earnings.

If you stop working prior to your full retirement age and have less than 35 years of earnings, the SSA will factor in zero-earning years when calculating your benefits. This can result in a lower monthly benefit amount.

If your new, lower-earning years are fall outside of your top 35 years, they won’t affect your benefit.

If you stop working or earn less income prior to your full retirement age and already have more than 35 years of earnings the SSA will factor in these lower earnings when calculating your benefits. They take the top 35 years, but it’s the indexed value that matters — not the raw dollar amount you earned. Inflation adjustments distort past values and new earnings automatically enter the 35-year pool. If their indexed value is higher, they can push out an older year , which may result in a lower monthly benefit amount.

Once you've assessed the impact of changes to your future earnings, head on over to My Plan > Income > Social Security and your adjusted Benefit at Full Retirement Age.