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That's because changing Social Security benefits required an act of Congress-literally. It took until 1950 for Congress to approve the first adjustment to Social Security benefits, an across-the-board increase of 77%. 3 Future increases were far from annual and also required Congress to pass legislation.
The exact amount of the reduction is based on your years of substantial earnings covered under Social Security and adjusted every year. In 2014, the maximum reduction in Social Security benefits under the Windfall Elimination Provision is $428 per month if you were age 62 in 2016. If you earned at least 40 Social Security credits through other employment, you should apply for Social Security, even though you may receive a reduced Social Security benefit.