These functions all share the same syntax:
·
SSBendFam1
returns the first Social Security Bend Point in the Maximum
Family Benefit formula for a
year.
·
SSBendFam2 returns the second Social
Security Bend Point in the Maximum Family Benefit formula for a year.
·
SSBendFam3 returns the third Social
Security Bend Point in the Maximum Family Benefit formula for a year.
These bend points are used in
the of the family-maximum formula to calculate the family maximum for
retirement and survivor benefits. The bend points are determined each year based
on changes in the National Average Wage Index.
SSBendFam1, SSBendFam2, and SSBendFam3
for year 𝑥 are based on the
following formulas:
|
The
resulting amount is rounded to the nearest whole number. |
More information can be
found at the Social Security
web site.
Syntax
SSBendFam1 (DeterminationYear, [LawYear],
[WageInflation])
SSBendFam2 (DeterminationYear, [LawYear],
[WageInflation])
SSBendFam3 (DeterminationYear, [LawYear],
[WageInflation])
|
Parameter Name |
Description |
|
DeterminationYear |
A
4 digit number. If the DeterminationYear is after the LawYear, this
is a projected calculation based on the WageInflation assumption. |
|
LawYear |
A
4 digit number. Optional;
default = DeterminationYear |
|
WageInflation |
The
assumed rate of increase in the National Average Wage. This
is used only for a projected calculation. Optional:
default = 0% |