About Mabank. Mabank, Texas. (Mabank, Texas is located on U.S. Highway 175, near the intersection of Farm Road 90, FM 198, and U.S. Highway 175, sixteen miles southeast of Kaufman, Texas, far in the southeast corner of Kaufman County, Texas. The Mabank, Texas area was first settled by Lorenzo D. Stover in 1846.
A: Your Social Security payment is based on your best 35 years of work. And, whether we like it or not, if you donât have 35 years of work, the Social Security Administration (SSA) still uses 35 years and posts zeros for the missing years, says Andy Landis, author of Social Security: The Inside Story, 2016 Edition.
A 30-percent increase in your benefit by waiting until age 70 represents about $700 a month for you, making the Social Security retirement benefit more than $3,000 a month for the worker making the maximum contributions base income for 35 years. Your spouse can receive 50 percent of your benefit at full retirement age. If you receive the maximum benefit at $2,366 for 2011, your spouse receives about $1,183, making the total monthly benefit about $3,500 for you as a couple.