Social security

How to calculate your social security retirement benefit. Take all earnings between ages 22 and 62, then subtract the lowest five years and multiply each year by a factor for that year and add the total and that becomes your primary insurance amount. For almost everyone this means the wages you earned between ages 27 and 62. If the plan is to privatize social security you start next year with everyone who turns age 27. Each employee contributes 6.2% of their salary to SS and this is matched by the employer. 2.2% of that is used to provide for disability benefits and survivor benefit leaving 8% to go into a saving plan. The plan will be much like the federal government savings plan that started in 1957. These are life cycle funds that are adjusted each year based on your age. All people over age 27 next year will continue in the SS program. This is a way to transfer the SS program to a private program which allows the employee to own his account. This will eliminate the racist bias that now exist and go a long way toward closing the wealth gap.