Is the government calculating your Social Security benefits correctly? If it is not, you may not get the amount to which you are entitled once you retire. If you have already retired, you may not be receiving as large a monthly check as you should. Read on and see what you can do.

Social Security benefits are based on your 35 highest-earning years, as reported to the government by your employers. If an employer has given the government incorrect salary data or if the government has erred in recording the information it received, you may miss out on full benefits.A $100 mistake early in your career is unlikely to have much impact on benefits, but a $10,000 error made during a peak-salary year could lower benefits by several hundred dollars a year.

Look at the Social Security Administration (SSA) statement that the government sends you each year around your birthday. For each year of employment, the statement lists the earnings on which Social Security taxes were based. It also estimates your benefits if you retire at the earliest age of eligibility (62) or if you wait for full benefits.Compare earnings listed in the SSA statement with income listed on W-2 forms in your tax records. If you spot a discrepancy, call the nationwide number (800-772-1213) to contact your local SSA. Most corrections can be made by phone. You also can use this number to request a statement if you did not recieve one during the year.

Labels: money saving tip, Social Security