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- The point valuation for retirement benefits in 2023 is as follows12:
- You earn 1 Social Security and Medicare credit for every $1,640 in covered earnings each year.
- You must earn $6,560 to get the maximum 4 credits for the year.
- Under the High 36 system, you get 50% for 20 years of service up to a maximum of 75%.
- Your years of service are used to determine the value of each point.
- Your retirement points are multiplied by the approximate value of a point to produce the estimated monthly retired pay value.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.In 2023, you earn 1 Social Security and Medicare credit for every $1,640 in covered earnings each year. You must earn $6,560 to get the maximum 4 credits for the year.www.ssa.gov/benefits/retirement/planner/credits.htmlUnder the High 36 system you you get 50% for 20 years of service up to a maximum of 75%. Your years of service are used to determine the value of each point. Your retirement points are multiplied by the approximate value of a point to produce the estimate monthly retired pay value.www.military.com/benefits/military-pay/reserve-an… - People also ask
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