A question. I may need to retire next year which is my full retirement age, but if I waited until 70, my benefit would be significantly higher. However, company reorganization will force me to retire. So, the plan is to retire at 66 and wait until 70 to collect. The question is whether or not my benefit would remain the same at 70 as it would be at 66 because I would no longer be contributing. Or, would it increase as it would if I were still working and contributing because the government would have the benefit of holding on to my money (as paultry as it is) longer. I have my 40 quarters already locked in.
And, if I do find work, I would likely not earn as much, so is the social security benefit based on the highest earning years?