After trying multiple calculators, from ssa.gov (https://www.ssa.gov/benefits/retirement/estimator.html) and others (for example https://www.aarp.org/work/social-security/social-security-benefits-calculator.html), and reading up on various sources (for example, https://www.myretirementpaycheck.org/How-My-Paycheck-Works/Social-Security/How-are-Benefits-Calculated), I could not find information for this situation:
- Assume that Jane Doe has completed 35 years with the maximum SS contribution (every year, the salary was over the annual cutoff limit).
- Jane stops working with age 58.
- Jane delays filing for social security benefits until age 70 (not 62 - which is what all calculators assume). Of course, that implies that Jane has to have a sizable nest-egg that feeds her between 58 and 70; assume that exists.
From what I read, only the best 35 years are considered.
With 35 years of maxed-out SS payments, because of the up-indexing of old years, chances are that any further work will have no or little effect (=only if the indexing would change differently than the SS contribution limit). Ignoring that minor potential change, when Jane files at age 70, she should get the maximum SS benefit. The years not worked in between have no (or negligible) effect
Question: Is this Correct?
If not, what can Jane get (SS related) from working in the years between?
Note: How to calculate Social Security benefits if retiring before the early Social Security age? is not a duplicate, as it discusses a different situation. It seems to confirm (or at least not contradict) what I assumed.