One last time with another four-day period. Anne was born 12/31/1937, Bill was born
1/1/1938, Cory was born 1/2/1938 and Demi was born 1/3/1938. They all worked at the
same job and had maximum earnings from 1961 through 1991. They attain age 62 as follows:
Anne on 12/30/1999, Bill on 12/31/1999, Cory on 1/1/2000 and Demi on 1/2/2000. Anne,
Bill and Cory can begin receiving benefits 1/2000 (the first month they are age 62
throughout the entire month). Demi must wait until 2/2000 because they are not age
62 throughout the entire month of 1/2000. FRA for Anne and Bill is age 65. FRA for
Cory and Demi is age 65 and 2 months. The number of reduction months varies. In 1/2000
Anne has 35 RF, Bill has 35 RF and Cory has 38 RF. In 2/1998 Demi has 37 RF. Although
all four claimants have the same earnings they attain age 62 in different years. The
year of attainment of age 62 determines the indexing factors and bend points used
in computing the benefit amount. Anne and Bill attain age 62 in 1999 and have a full
unreduced benefit amount of $1372. Cory and Demi attain age 62 in 2000 and have a
full unreduced benefit amount of $1410. After reduction for entitlement before FRA,
payments are made as follows:
Anne - $1105 starting 1/2000
Bill - $1105 starting 1/2000
Cory - $1116 starting 1/2000
Demi - $1122 starting 2/2000