Payment Amount
The amount that each recipient receives monthly is based upon an average of past earnings. The calculation is based on the average indexed monthly earnings (AIME) which is used to calculate the primary insurance amount (PIA).
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Famous quotes containing the words payment and/or amount:
“Put God in your debt. Every stroke shall be repaid. The longer the payment is withholden, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.”
—Ralph Waldo Emerson (1803–1882)
“Is this not true—That in proportion to the value of their estates the extremely wealthy pay far less taxes than those of moderate means? Compare the amount paid by millionaires with the amount paid by ordinary citizens. I believe that in proportion to their estates they pay less than half as much as ordinary citizens, whereas they ought to pay more.”
—Rutherford Birchard Hayes (1822–1893)