Mary Harmon, DOB 3/19/19, becomes entitled to benefits in 3/81 (age 62). Their ER
shows total wages of $37,700 (pre-1951 earnings were $34,500). Their NS 78 PIA would
be the frozen minimum PIA of $122.00. Since they meet the requirements for an OS GUAR
PIA, the following must also be considered:
-
a.
Computation Years - 35 (420 divisor months);
-
b.
Base Years 1937 - 1980 (age 62 in 1981);
-
c.
Increment years - $34,500 (pre-1951 earnings) divided by 1650 = 20 which is limited
to 14;
-
d.
Dividend - Total earnings in 35 computation years = $37,700.00;
-
e.
Using Table Omni 2, the basic benefit is $23.90; and
-
f.
Using Table Omni 3 for 6/78, the PIA for a basic benefit of $23.90 and 14 increment
years is $174.90. This is the basic 1977 simplified OS PIA at age 62 in 3/81.