What is the Family Maximum benefit limit based on your own benefit payment percentage?

The Family Maximum benefit limit is designed to ensure that families receive a reasonable level of benefits while preventing excessive payments relative to the worker's contributions. The correct range, 150-180%, indicates that the maximum family benefit can be up to 180% of a worker's Primary Insurance Amount (PIA), which is the benefit amount a worker receives based on their earnings record. This means that for a qualifying family, the total benefits paid out can exceed the individual PIA but will not surpass the established cap of 180%.

This limitation is important to understand for planning purposes, as it directly influences the overall benefits that a family can receive when the primary worker starts collecting Social Security. It's essential for advisors to consider this limit when calculating potential benefits for families to ensure that they are aware of the maximum benefits they can receive based on their specific situation.