All Social Security benefit amounts in RightCapital are inflated by the Social Security Inflation rate, both before and after the client starts receiving benefits. The Social Security inflation rate is used for the following calculations:
Adjust the Social Security payment every year, both prior to filing and for those who have already started receiving benefits.
Adjust PIA bend points, earnings test exempt amounts, and other variables needed to calculate social security benefits.
Adjust the Social Security salary base every year for the purpose of calculating the maximum Social Security benefit.
The default Social Security inflation rate of 2.5% is based on historical cost of living adjustments (COLA) by the SSA. This setting can be found and adjusted at the global level in the ... More Menu > Assumptions > Inflation tab of your Advisor Portal:
This setting can also be adjusted at the client level, within the Gear Icon > Settings > Other Assumptions tab of a particular client plan. Changes made here will only impact the specific client household you are currently working on:
