What does the full retirement benefit equal for a retired worker?

The full retirement benefit for a retired worker is calculated based on the Primary Insurance Amount (PIA). The PIA is determined by the worker's average indexed monthly earnings (AIME) over their working lifetime, and it reflects the earnings on which Social Security taxes were paid.

This amount represents what the worker would receive in benefits upon reaching full retirement age, which is generally between 66 and 67, depending on the year of birth. The PIA is foundational to the Social Security system, as it is designed to provide a benefit that reflects the worker's contributions and earnings history.

While other options might seem related, they do not accurately represent how benefits are calculated. The average income during working years or a fixed monthly amount does not effectively capture the specifics of the calculation process used by Social Security.