google bot detected Primary Insurance Amount Pia | Insurance Glossary | Realestateagent.com

Primary Insurance Amount Pia


Definition of "Primary insurance amount (pia)"

Nancy Marquez GRI, SRES
  Coldwell Banker Residential Brokerages

Monthly benefit payable to retired or disabled worker under Social Security. It is calculated by using the average monthly earnings of the covered person while working. Under this formula, lower-income workers receive a greater percent of the income they had earned while employed than do more highly paid workers. Benefits for spouse, other dependents, and survivors are figured as a percentage of the PIA. A worker who takes early retirement may receive a portion of the PIA at age 62. The PIA is used to calculate most other benefits.



Related Real Estate Glossary terms

Related Real Estate FAQ