Edits and clarifications for Benefit Formula page

[annemeeker]

And edited text:
minor edits:
Slides 9/3:
Brief:
“The Social Security Administration uses three main inputs to calculate your retirement benefits. Those three inputs are:

1. Birthdate (if wrong, edit here)
2. Retirement date, in this case, the slider (if wrong edit here)
3. Average Indexed Monthly Earnings (double check your earnings record here)

Once the SSA has those inputs, they will go through three steps to calculate your final benefit amount.
We’ll walk you through these three steps in the following pages:”

Step 1: IF NOT AFFECTED BY WEP
The Social Security Administration calculates how much of your Averaged Indexed Monthly Earnings (based on your lifetime earnings record) fell below $895, based on the information you entered.
You get back 90% of what falls under $895.
Step 1: IF AFFECTED BY WEP
The Social Security Administration calculates how much of your Averaged Indexed Monthly Earnings (based on your lifetime earnings record) fell below $895, based on the information you entered.
The percentage you get back of your earnings below $895 depends on how many years you worked in a job where your employer paid Social Security taxes. Based on your earnings record, you have XYZ years of covered earnings.
[table showing % vs. years of substantial earnings]
This means that you get back % of your earnings in this amount back.
[See how the formula works for people who are NOT affected by WEP]
Step 2:
Next, the Social Security Administration calculates how much of your monthly income fell below $5397 based n the information you entered.
You get back 32% of your AIME that falls between $895 and $5397.
Step 3
Finally, the Social Security Administration calculates how much of your monthly income exceeds $5397 based on the information you entered.
You get back 15% of whatever monthly income was over $5397.
Final calculation
All of the amounts in red below are added together to determine your Primary Insurance Amount, or PIA.
Your total Primary Insurance Amount is $911.10.
$805.50 + $105.60 + $0.00 = $911.10
This amount changes depending on when you retire. If you take your benefits early (as early as 62), Social Security reduces your benefits. If you take your benefits later (up to age 70), Social Security increases your benefits.
[can we put the sliders here again? Or a link back to the results screen with the sliders?]
Commonly Asked Questions
I got a letter from the Social Security Administration telling me that I have an overpayment. What do I do?
I don’t think this is fair. What can I do to get involved?
[find your representative]
I think Social Security made a mistake in my calculation. Who can I talk to?
[link to print my results]
[link to civicapp] (edited)

Rick's slides:
https://cfb-public.slack.com/archives/CG08M4KN3/p1566960359081500