Primary Insurance Amount (pia)
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.
Popular Insurance Terms
Policy that pays a dividend to its owner. ...
Date when an insurance company issues a policy. This date may be different from the date the insurance becomes effective. ...
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Specific time at which the insurance policy coverage begins and ends. ...
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