NH age 62 - 1/98
First month of concurrent entitlement - 1/99
AIME - $445
Raw PIA 1/98 - $400.50
Formula WEP PIA 1/99 - $180.30 (Includes 12/98 COLA)
Pension amount 1/99 - $100 (all work is non-covered and after 1956)
Step
|
Action
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1
|
Subtract one-half the pension amount in the first month of concurrent entitlement
from the raw PIA:
|
2
|
Add the 12/98 COLA (1.3 percent):
-
$350.50 x 1.013 = $355.00 Guarantee PIA effective 1/98
|
3
|
The 1/99 PIA cannot be lower than $355.00. Since the formula WEP PIA is $180.30, the
WEP guarantee PIA applies.
The 1/99 FMAX is based on the raw guarantee PIA ($350), the 1998 bend-points and the
12/98 COLA. The 1/99 FMAX is $531.80.
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