Since income earned above the wage base limit is not subject to Social Security payroll taxes, it's also not considered when calculating monthly benefits. To be eligible for the maximum benefit, you must earn at least the wage base limit for 35 years, which is the period of time Social Security will consider when calculating your monthly benefit.

The Social Security Administration has processed 2.3M benefit adjustments. But that still leaves roughly 900K Americans waiting on their extra money.

The age to receive full Social Security benefits is gradually increasing, affecting millions of future retirees. This year, the change impacts those born in 1959, who will now have to wait until 66 years and 10 months to get their full benefits.