Social Security multiplies your real earnings until age 60 by yearly indexing factors based on changes in average wages every year. If you have less than 35 years of covered employment, zeros are added to bring the total number of earnings years to 35. Social Security may credit you with additional earnings for periods of active duty or active duty for training. The additional earnings may increase your Social Security benefits. Additional earnings are not granted for inactive duty training, and Social Security cannot add them to your earnings record until you file for Social Security benefits.
Bend points change annually based on the average monthly earnings of all workers.
The PIA is increased by COLAs annually starting with the year the worker turns 62, up to the year the worker starts getting benefits.