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Benefit Formula Changes

Increase the computation period from 35 years to 40 years

Projected effects on beneficiaries in 2050

Compare all options »

Table 1. Individual benefits 2050: Increase Comp Yrs to 40 versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total -4% 80% 0%
Sex
Female -4% 79% 0%
Male -3% 81% 0%
Race/Ethnicity
Hispanic -4% 79% 0%
White -3% 81% 0%
Black -3% 71% 0%
Other -5% 81% 0%
Immigration
Immigrant -5% 82% 0%
Native Born -3% 79% 0%
Age
60–69 -4% 75% 0%
70–79 -4% 84% 0%
80–89 -3% 84% 0%
90+ -2% 69% 0%
Marital Status
Never Married -4% 79% 0%
Married -4% 85% 0%
Divorced -3% 75% 0%
Widowed -2% 72% 0%
Education
Graduate -4% 84% 0%
Bachelor -4% 85% 0%
Associate -3% 79% 0%
High School -3% 76% 0%
Less than 12 Yrs -5% 76% 0%
Indiv. Income Quintile
$118,077+ -3% 85% 0%
$63,076 - $118,077 -3% 84% 0%
$38,685 - $63,076 -4% 80% 0%
$23,078 - $38,685 -4% 75% 0%
$0-$23,078 -5% 75% 0%
Hhld. Income Quintile
$191,900+ -3% 85% 0%
$102,458 - $191,900 -3% 85% 0%
$60,945 - $102,458 -4% 82% 0%
$33,624 - $60,945 -4% 77% 0%
$0-$33,624 -4% 70% 0%
Shared Earn. Quintile
$106,162+ -2% 87% 0%
$74,636 - $106,162 -3% 86% 0%
$52,919 - $74,636 -4% 83% 0%
$32,782 - $52,919 -4% 76% 0%
$0-$32,782 -5% 67% 0%
Benefit Type
Retired Worker -5% 98% 0%
Spousal & Worker -3% 88% 1%
Spousal Only -6% 89% 0%
Survivor & Worker -2% 63% 0%
Survivor Only -3% 64% 0%
Retired Disabled 0% 15% 0%
Disabled Worker 0% 3% 0%
Claiming Age
62 or younger -4% 70% 0%
63–66 -3% 90% 0%
67 or older -3% 90% 0%
Quarters of Coverage
201+ -2% 92% 0%
161–200 -3% 86% 0%
81–160 -5% 74% 0%
0–80 -4% 66% 0%
Own AIME Quintile
$8,955+ -2% 88% 0%
$5,945 - $8,955 -4% 84% 0%
$4,095 - $5,945 -4% 79% 0%
$2,356 - $4,095 -4% 74% 0%
$0-$2,356 -5% 75% 0%
Paying AIME Quintile
$10,370+ -2% 84% 0%
$7,219 - $10,370 -3% 82% 0%
$5,128 - $7,219 -4% 81% 0%
$3,307 - $5,128 -4% 78% 0%
$0-$3,307 -5% 74% 0%
Hhld. Benefit Quintile
$3,486+ -3% 87% 0%
$2,564 - $3,486 -3% 82% 0%
$1,975 - $2,564 -3% 79% 0%
$1,382 - $1,975 -4% 75% 0%
$0-$1,382 -5% 76% 0%
Adj. Gross Income
$146,400+ -3% 87% 0%
$99,794 - $146,400 -3% 85% 0%
$66,090 - $99,794 -3% 83% 0%
$1 - $66,090 -4% 79% 0%
$0.00 -4% 72% 0%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.
Table 5. Individual benefits 2050: Increase Comp Yrs to 40 versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 22% 0% 99%
Sex
Female 22% 0% 100%
Male 22% 0% 99%
Race/Ethnicity
Hispanic 21% 1% 99%
White 23% 0% 100%
Black 22% 0% 100%
Other 21% 1% 99%
Immigration
Immigrant 20% 1% 99%
Native Born 23% 0% 100%
Age
60–69 22% 1% 98%
70–79 22% 0% 100%
80–89 23% 0% 100%
90+ 25% 0% 100%
Marital Status
Never Married 22% 1% 99%
Married 22% 1% 99%
Divorced 22% 0% 99%
Widowed 24% 0% 100%
Education
Graduate 22% 1% 99%
Bachelor 22% 1% 99%
Associate 23% 0% 100%
High School 22% 0% 100%
Less than 12 Yrs 21% 1% 99%
Indiv. Income Quintile
$118,077+ 23% 1% 99%
$63,076 - $118,077 23% 1% 99%
$38,685 - $63,076 22% 1% 99%
$23,078 - $38,685 22% 0% 100%
$0-$23,078 21% 0% 100%
Hhld. Income Quintile
$191,900+ 23% 1% 99%
$102,458 - $191,900 23% 1% 99%
$60,945 - $102,458 22% 1% 99%
$33,624 - $60,945 22% 0% 100%
$0-$33,624 21% 0% 100%
Shared Earn. Quintile
$106,162+ 24% 0% 100%
$74,636 - $106,162 23% 0% 99%
$52,919 - $74,636 22% 0% 99%
$32,782 - $52,919 21% 0% 99%
$0-$32,782 21% 0% 100%
Benefit Type
Retired Worker 21% 1% 99%
Spousal & Worker 23% 0% 100%
Spousal Only 20% 1% 99%
Survivor & Worker 25% 0% 100%
Survivor Only 23% 0% 100%
Retired Disabled 27% 0% 100%
Disabled Worker 27% 0% 100%
Claiming Age
62 or younger 22% 0% 100%
63–66 22% 1% 99%
67 or older 22% 0% 100%
Quarters of Coverage
201+ 24% 1% 99%
161–200 22% 0% 100%
81–160 20% 0% 99%
0–80 21% 0% 100%
Own AIME Quintile
$8,955+ 24% 0% 100%
$5,945 - $8,955 22% 1% 99%
$4,095 - $5,945 22% 1% 99%
$2,356 - $4,095 21% 0% 99%
$0-$2,356 21% 0% 100%
Paying AIME Quintile
$10,370+ 24% 0% 100%
$7,219 - $10,370 23% 0% 100%
$5,128 - $7,219 21% 1% 99%
$3,307 - $5,128 21% 1% 99%
$0-$3,307 20% 1% 99%
Hhld. Benefit Quintile
$3,486+ 23% 0% 100%
$2,564 - $3,486 23% 0% 100%
$1,975 - $2,564 23% 0% 100%
$1,382 - $1,975 22% 0% 100%
$0-$1,382 20% 2% 98%
Adj. Gross Income
$146,400+ 23% 1% 99%
$99,794 - $146,400 22% 1% 99%
$66,090 - $99,794 22% 1% 99%
$1 - $66,090 22% 1% 99%
$0.00 22% 0% 100%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.
Table 2. Distribution of changes 2050: Increase Comp Yrs to 40 versus Scheduled
Characteristic % of Population With % Change of
-20%+ -10 to -19% -1 to -9% No change +1 to +9% +10 to +19% +20%+
Total 1% 4% 75% 20% 0% 0% 0%
Sex
Female 0% 5% 74% 21% 0% 0% 0%
Male 1% 3% 77% 19% 0% 0% 0%
Race/Ethnicity
Hispanic 1% 6% 72% 21% 0% 0% 0%
White 0% 3% 78% 18% 0% 0% 0%
Black 0% 5% 66% 29% 0% 0% 0%
Other 1% 6% 75% 19% 0% 0% 0%
Immigration
Immigrant 1% 7% 74% 18% 0% 0% 0%
Native Born 0% 3% 76% 21% 0% 0% 0%
Age
60–69 2% 5% 68% 25% 0% 0% 0%
70–79 0% 4% 79% 16% 0% 0% 0%
80–89 0% 3% 81% 16% 0% 0% 0%
90+ 0% 1% 68% 30% 0% 0% 0%
Marital Status
Never Married 1% 6% 72% 21% 0% 0% 0%
Married 1% 4% 80% 15% 0% 0% 0%
Divorced 1% 4% 71% 24% 0% 0% 0%
Widowed 0% 3% 69% 28% 0% 0% 0%
Education
Graduate 1% 3% 80% 15% 0% 0% 0%
Bachelor 1% 3% 82% 14% 0% 0% 0%
Associate 1% 3% 75% 21% 0% 0% 0%
High School 0% 4% 71% 24% 0% 0% 0%
Less than 12 Yrs 1% 9% 66% 24% 0% 0% 0%
Indiv. Income Quintile
$118,077+ 1% 2% 82% 15% 0% 0% 0%
$63,076 - $118,077 1% 2% 81% 16% 0% 0% 0%
$38,685 - $63,076 1% 2% 78% 20% 0% 0% 0%
$23,078 - $38,685 0% 2% 72% 25% 0% 0% 0%
$0-$23,078 0% 12% 63% 25% 0% 0% 0%
Hhld. Income Quintile
$191,900+ 1% 2% 82% 15% 0% 0% 0%
$102,458 - $191,900 1% 3% 82% 15% 0% 0% 0%
$60,945 - $102,458 1% 3% 79% 18% 0% 0% 0%
$33,624 - $60,945 0% 3% 74% 23% 0% 0% 0%
$0-$33,624 0% 10% 60% 30% 0% 0% 0%
Shared Earn. Quintile
$106,162+ 1% 2% 85% 13% 0% 0% 0%
$74,636 - $106,162 1% 2% 83% 14% 0% 0% 0%
$52,919 - $74,636 1% 1% 81% 17% 0% 0% 0%
$32,782 - $52,919 1% 1% 74% 24% 0% 0% 0%
$0-$32,782 0% 15% 52% 33% 0% 0% 0%
Benefit Type
Retired Worker 1% 6% 92% 2% 0% 0% 0%
Spousal & Worker 0% 1% 87% 11% 1% 0% 0%
Spousal Only 1% 15% 73% 11% 0% 0% 0%
Survivor & Worker 0% 0% 63% 36% 0% 0% 0%
Survivor Only 0% 6% 58% 36% 0% 0% 0%
Retired Disabled 0% 0% 15% 85% 0% 0% 0%
Disabled Worker 0% 0% 3% 97% 0% 0% 0%
Claiming Age
62 or younger 0% 4% 65% 30% 0% 0% 0%
63–66 1% 3% 86% 10% 0% 0% 0%
67 or older 0% 8% 82% 10% 0% 0% 0%
Quarters of Coverage
201+ 1% 0% 91% 8% 0% 0% 0%
161–200 1% 0% 85% 14% 0% 0% 0%
81–160 1% 4% 69% 26% 0% 0% 0%
0–80 0% 20% 46% 33% 0% 0% 0%
Own AIME Quintile
$8,955+ 0% 0% 87% 12% 0% 0% 0%
$5,945 - $8,955 1% 1% 83% 16% 0% 0% 0%
$4,095 - $5,945 1% 1% 77% 21% 0% 0% 0%
$2,356 - $4,095 1% 1% 72% 26% 0% 0% 0%
$0-$2,356 1% 17% 57% 25% 0% 0% 0%
Paying AIME Quintile
$10,370+ 0% 0% 83% 16% 0% 0% 0%
$7,219 - $10,370 0% 0% 81% 18% 0% 0% 0%
$5,128 - $7,219 1% 1% 80% 19% 0% 0% 0%
$3,307 - $5,128 1% 1% 76% 22% 0% 0% 0%
$0-$3,307 1% 18% 56% 26% 0% 0% 0%
Hhld. Benefit Quintile
$3,486+ 0% 0% 86% 13% 0% 0% 0%
$2,564 - $3,486 0% 1% 81% 17% 0% 0% 0%
$1,975 - $2,564 0% 1% 77% 21% 0% 0% 0%
$1,382 - $1,975 0% 2% 72% 25% 0% 0% 0%
$0-$1,382 2% 16% 59% 24% 0% 0% 0%
Adj. Gross Income
$146,400+ 1% 2% 84% 12% 0% 0% 0%
$99,794 - $146,400 1% 2% 82% 15% 0% 0% 0%
$66,090 - $99,794 1% 3% 79% 17% 0% 0% 0%
$1 - $66,090 1% 6% 73% 20% 0% 0% 0%
$0.00 0% 6% 66% 28% 0% 0% 0%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.
Table 6. Distribution of changes 2050: Increase Comp Yrs to 40 versus Payable
Characteristic % of Population With % Change of
-20%+ -10 to -19% -1 to -9% No change +1 to +9% +10 to +19% +20%+
Total 0% 0% 0% 0% 0% 24% 75%
Sex
Female 0% 0% 0% 0% 0% 26% 73%
Male 0% 0% 0% 0% 0% 22% 77%
Race/Ethnicity
Hispanic 0% 0% 0% 0% 0% 33% 65%
White 0% 0% 0% 0% 0% 21% 79%
Black 0% 0% 0% 0% 0% 23% 76%
Other 0% 0% 0% 0% 0% 35% 64%
Immigration
Immigrant 0% 0% 0% 0% 0% 40% 59%
Native Born 0% 0% 0% 0% 0% 20% 79%
Age
60–69 1% 0% 0% 0% 1% 28% 70%
70–79 0% 0% 0% 0% 0% 26% 74%
80–89 0% 0% 0% 0% 0% 21% 79%
90+ 0% 0% 0% 0% 0% 10% 90%
Marital Status
Never Married 0% 0% 0% 0% 0% 29% 70%
Married 0% 0% 0% 0% 0% 27% 72%
Divorced 0% 0% 0% 0% 0% 23% 77%
Widowed 0% 0% 0% 0% 0% 17% 83%
Education
Graduate 0% 0% 0% 0% 0% 26% 73%
Bachelor 0% 0% 0% 0% 0% 24% 75%
Associate 0% 0% 0% 0% 0% 21% 78%
High School 0% 0% 0% 0% 0% 23% 76%
Less than 12 Yrs 0% 0% 0% 0% 0% 37% 62%
Indiv. Income Quintile
$118,077+ 0% 0% 0% 0% 0% 14% 85%
$63,076 - $118,077 0% 0% 0% 0% 1% 19% 79%
$38,685 - $63,076 0% 0% 0% 0% 0% 23% 76%
$23,078 - $38,685 0% 0% 0% 0% 0% 29% 71%
$0-$23,078 0% 0% 0% 0% 0% 36% 63%
Hhld. Income Quintile
$191,900+ 0% 0% 0% 0% 0% 17% 82%
$102,458 - $191,900 0% 0% 0% 0% 0% 21% 78%
$60,945 - $102,458 0% 0% 0% 0% 0% 24% 75%
$33,624 - $60,945 0% 0% 0% 0% 0% 28% 71%
$0-$33,624 0% 0% 0% 0% 0% 32% 67%
Shared Earn. Quintile
$106,162+ 0% 0% 0% 0% 0% 8% 91%
$74,636 - $106,162 0% 0% 0% 0% 0% 19% 80%
$52,919 - $74,636 0% 0% 0% 0% 0% 27% 72%
$32,782 - $52,919 0% 0% 0% 0% 0% 31% 68%
$0-$32,782 0% 0% 0% 0% 0% 35% 64%
Benefit Type
Retired Worker 0% 0% 0% 0% 0% 32% 67%
Spousal & Worker 0% 0% 0% 0% 0% 19% 81%
Spousal Only 1% 0% 0% 0% 1% 46% 52%
Survivor & Worker 0% 0% 0% 0% 0% 12% 88%
Survivor Only 0% 0% 0% 0% 0% 27% 73%
Retired Disabled 0% 0% 0% 0% 0% 3% 97%
Disabled Worker 0% 0% 0% 0% 0% 1% 99%
Claiming Age
62 or younger 0% 0% 0% 0% 0% 26% 73%
63–66 0% 0% 0% 0% 0% 22% 77%
67 or older 0% 0% 0% 0% 0% 26% 73%
Quarters of Coverage
201+ 0% 0% 0% 0% 0% 3% 96%
161–200 0% 0% 0% 0% 0% 13% 86%
81–160 0% 0% 0% 0% 0% 40% 60%
0–80 0% 0% 0% 0% 0% 38% 61%
Own AIME Quintile
$8,955+ 0% 0% 0% 0% 0% 0% 99%
$5,945 - $8,955 0% 0% 0% 0% 0% 29% 70%
$4,095 - $5,945 0% 0% 0% 0% 0% 31% 68%
$2,356 - $4,095 0% 0% 0% 0% 0% 31% 68%
$0-$2,356 0% 0% 0% 0% 0% 30% 69%
Paying AIME Quintile
$10,370+ 0% 0% 0% 0% 0% 0% 99%
$7,219 - $10,370 0% 0% 0% 0% 0% 17% 82%
$5,128 - $7,219 0% 0% 0% 0% 0% 32% 67%
$3,307 - $5,128 0% 0% 0% 0% 0% 35% 64%
$0-$3,307 0% 0% 0% 0% 0% 37% 62%
Hhld. Benefit Quintile
$3,486+ 0% 0% 0% 0% 0% 15% 85%
$2,564 - $3,486 0% 0% 0% 0% 0% 20% 79%
$1,975 - $2,564 0% 0% 0% 0% 0% 20% 80%
$1,382 - $1,975 0% 0% 0% 0% 0% 29% 70%
$0-$1,382 1% 0% 0% 0% 1% 37% 60%
Adj. Gross Income
$146,400+ 0% 0% 0% 0% 0% 17% 82%
$99,794 - $146,400 0% 0% 0% 0% 0% 21% 78%
$66,090 - $99,794 0% 0% 0% 0% 0% 24% 75%
$1 - $66,090 0% 0% 0% 0% 0% 29% 70%
$0.00 0% 0% 0% 0% 0% 28% 72%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.
Table 3. Poverty 2050: Increase Comp Yrs to 40 versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.9% 2.1% 0.2% 193,195
Sex
Female 2.4% 2.7% 0.3% 127,266
Male 1.3% 1.5% 0.2% 65,928
Race/Ethnicity
Hispanic 3.0% 3.4% 0.4% 53,391
White 1.2% 1.4% 0.2% 91,257
Black 3.9% 4.3% 0.3% 28,576
Other 2.2% 2.5% 0.3% 19,971
Immigration
Immigrant 2.9% 3.3% 0.4% 80,516
Native Born 1.6% 1.8% 0.2% 112,678
Age
60–69 2.4% 2.7% 0.3% 67,852
70–79 2.0% 2.3% 0.3% 90,182
80–89 1.4% 1.5% 0.1% 23,660
90+ 0.9% 1.1% 0.2% 11,500
Marital Status
Never Married 5.3% 6.0% 0.6% 55,859
Married 0.8% 0.9% 0.1% 55,038
Divorced 2.8% 3.0% 0.3% 44,007
Widowed 1.9% 2.1% 0.2% 38,291
Education
Graduate 0.6% 0.6% 0.1% 6,644
Bachelor 0.6% 0.7% 0.1% 16,276
Associate 1.3% 1.5% 0.2% 40,112
High School 2.6% 2.9% 0.3% 81,432
Less than 12 Yrs 6.3% 7.0% 0.7% 48,729
Indiv. Income Quintile
$118,077+ 0.0% 0.0% 0.0% 0
$63,076 - $118,077 0.0% 0.0% 0.0% 0
$38,685 - $63,076 0.0% 0.0% 0.0% 0
$23,078 - $38,685 0.0% 0.0% 0.0% 0
$0-$23,078 9.6% 10.8% 1.2% 193,195
Hhld. Income Quintile
$191,900+ 0.0% 0.0% 0.0% 0
$102,458 - $191,900 0.0% 0.0% 0.0% 0
$60,945 - $102,458 0.0% 0.0% 0.0% 0
$33,624 - $60,945 0.0% 0.0% 0.0% 0
$0-$33,624 9.6% 10.8% 1.2% 193,195
Shared Earn. Quintile
$106,162+ 0.0% 0.0% 0.0% 0
$74,636 - $106,162 0.0% 0.0% 0.0% 0
$52,919 - $74,636 0.0% 0.0% 0.0% 0
$32,782 - $52,919 0.1% 0.2% 0.0% 7,507
$0-$32,782 9.4% 10.5% 1.1% 185,688
Benefit Type
Retired Worker 1.8% 2.1% 0.3% 165,956
Spousal & Worker 0.5% 0.5% 0.0% 1,384
Spousal Only 5.1% 5.9% 0.8% 8,363
Survivor & Worker 0.5% 0.6% 0.1% 12,715
Survivor Only 7.0% 7.5% 0.5% 4,775
Retired Disabled 2.7% 2.7% 0.0% 0
Disabled Worker 4.3% 4.3% 0.0% 0
Claiming Age
62 or younger 3.0% 3.3% 0.3% 117,368
63–66 0.8% 0.9% 0.2% 57,807
67 or older 1.3% 1.6% 0.3% 18,020
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.1% 0.1% 0.0% 4,565
81–160 1.4% 1.8% 0.4% 118,878
0–80 11.0% 11.8% 0.7% 69,751
Own AIME Quintile
$8,955+ 0.0% 0.0% 0.0% 0
$5,945 - $8,955 0.0% 0.0% 0.0% 0
$4,095 - $5,945 0.0% 0.0% 0.0% 0
$2,356 - $4,095 0.5% 0.7% 0.2% 34,426
$0-$2,356 9.0% 10.0% 1.0% 158,769
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% 0
$5,128 - $7,219 0.0% 0.0% 0.0% 1,384
$3,307 - $5,128 0.2% 0.2% 0.0% 6,611
$0-$3,307 9.3% 10.4% 1.1% 185,199
Hhld. Benefit Quintile
$3,486+ 0.0% 0.0% 0.0% 0
$2,564 - $3,486 0.0% 0.0% 0.0% 0
$1,975 - $2,564 0.0% 0.0% 0.0% 0
$1,382 - $1,975 0.0% 0.0% 0.0% 0
$0-$1,382 9.5% 10.7% 1.2% 193,195
Adj. Gross Income
$146,400+ 0.0% 0.0% 0.0% 0
$99,794 - $146,400 0.0% 0.0% 0.0% 618
$66,090 - $99,794 0.1% 0.1% 0.0% 0
$1 - $66,090 1.4% 1.5% 0.1% 19,723
$0.00 5.0% 5.7% 0.7% 172,853
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.
Table 7. Poverty 2050: Increase Comp Yrs to 40 versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 3.5% 2.1% -1.3% -1,081,559
Sex
Female 4.1% 2.7% -1.4% -633,852
Male 2.7% 1.5% -1.2% -447,706
Race/Ethnicity
Hispanic 5.2% 3.4% -1.8% -252,285
White 2.4% 1.4% -1.0% -507,704
Black 7.1% 4.3% -2.8% -243,045
Other 3.6% 2.5% -1.1% -78,523
Immigration
Immigrant 4.9% 3.3% -1.5% -284,603
Native Born 3.1% 1.8% -1.3% -796,956
Age
60–69 4.3% 2.7% -1.6% -416,726
70–79 3.7% 2.3% -1.4% -429,642
80–89 2.5% 1.5% -1.0% -195,287
90+ 1.9% 1.1% -0.8% -39,903
Marital Status
Never Married 9.1% 6.0% -3.1% -280,762
Married 1.5% 0.9% -0.6% -236,387
Divorced 5.0% 3.0% -2.0% -310,443
Widowed 3.7% 2.1% -1.5% -253,965
Education
Graduate 0.8% 0.6% -0.2% -18,874
Bachelor 1.2% 0.7% -0.5% -85,294
Associate 2.9% 1.5% -1.4% -273,016
High School 4.7% 2.9% -1.8% -488,671
Less than 12 Yrs 10.3% 7.0% -3.3% -215,702
Indiv. Income Quintile
$118,077+ 0.0% 0.0% 0.0% 0
$63,076 - $118,077 0.0% 0.0% 0.0% 0
$38,685 - $63,076 0.0% 0.0% 0.0% 0
$23,078 - $38,685 0.0% 0.0% 0.0% 0
$0-$23,078 17.5% 10.8% -6.7% -1,081,559
Hhld. Income Quintile
$191,900+ 0.0% 0.0% 0.0% 0
$102,458 - $191,900 0.0% 0.0% 0.0% 0
$60,945 - $102,458 0.0% 0.0% 0.0% 0
$33,624 - $60,945 0.0% 0.0% 0.0% 0
$0-$33,624 17.5% 10.8% -6.7% -1,081,559
Shared Earn. Quintile
$106,162+ 0.0% 0.0% 0.0% 0
$74,636 - $106,162 0.0% 0.0% 0.0% 0
$52,919 - $74,636 0.1% 0.0% -0.1% -9,071
$32,782 - $52,919 1.1% 0.2% -1.0% -155,616
$0-$32,782 16.2% 10.5% -5.7% -916,871
Benefit Type
Retired Worker 3.1% 2.1% -1.0% -538,998
Spousal & Worker 0.9% 0.5% -0.4% -11,373
Spousal Only 7.9% 5.9% -2.0% -19,692
Survivor & Worker 1.6% 0.6% -0.9% -105,401
Survivor Only 10.4% 7.5% -2.8% -26,069
Retired Disabled 5.6% 2.7% -2.9% -214,183
Disabled Worker 8.2% 4.3% -3.9% -165,840
Claiming Age
62 or younger 5.4% 3.3% -2.1% -836,824
63–66 1.6% 0.9% -0.6% -223,288
67 or older 2.0% 1.6% -0.4% -21,446
Quarters of Coverage
201+ 0.0% 0.0% 0.0% -1,903
161–200 0.5% 0.1% -0.4% -102,149
81–160 3.7% 1.8% -1.9% -566,435
0–80 16.0% 11.8% -4.2% -411,071
Own AIME Quintile
$8,955+ 0.0% 0.0% 0.0% 0
$5,945 - $8,955 0.0% 0.0% 0.0% 0
$4,095 - $5,945 0.2% 0.0% -0.2% -32,427
$2,356 - $4,095 3.1% 0.7% -2.4% -388,700
$0-$2,356 14.1% 10.0% -4.1% -660,430
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% -4,879
$5,128 - $7,219 0.1% 0.0% -0.1% -12,974
$3,307 - $5,128 1.3% 0.2% -1.1% -175,831
$0-$3,307 15.9% 10.4% -5.5% -887,873
Hhld. Benefit Quintile
$3,486+ 0.0% 0.0% 0.0% 0
$2,564 - $3,486 0.0% 0.0% 0.0% 0
$1,975 - $2,564 0.0% 0.0% 0.0% 0
$1,382 - $1,975 0.2% 0.0% -0.2% -29,089
$0-$1,382 17.2% 10.7% -6.5% -1,052,470
Adj. Gross Income
$146,400+ 0.0% 0.0% 0.0% -2,300
$99,794 - $146,400 0.0% 0.0% 0.0% 0
$66,090 - $99,794 0.1% 0.1% 0.0% -5,429
$1 - $66,090 2.0% 1.5% -0.5% -67,383
$0.00 9.5% 5.7% -3.8% -1,006,445
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.
Table 4. Median Monthly Scheduled Benefit, 2050
Characteristic Wage-Adjusted (2012 $) Inflation-Adjusted (2012 $) Nominal
(2050 $)
Total $1,049 $1,706 $4,678
Sex
Female $958 $1,557 $4,269
Male $1,151 $1,872 $5,132
Race/Ethnicity
Hispanic $880 $1,432 $3,926
White $1,122 $1,825 $5,003
Black $935 $1,521 $4,170
Other $1,054 $1,713 $4,697
Immigration
Immigrant $909 $1,478 $4,053
Native Born $1,088 $1,770 $4,852
Age
60–69 $973 $1,582 $4,336
70–79 $1,036 $1,685 $4,621
80–89 $1,119 $1,820 $4,990
90+ $1,171 $1,905 $5,222
Marital Status
Never Married $937 $1,524 $4,179
Married $1,003 $1,631 $4,471
Divorced $1,070 $1,740 $4,770
Widowed $1,186 $1,928 $5,286
Education
Graduate $1,367 $2,224 $6,096
Bachelor $1,288 $2,095 $5,743
Associate $1,045 $1,700 $4,661
High School $930 $1,513 $4,148
Less than 12 Yrs $758 $1,233 $3,380
Indiv. Income Quintile
$118,077+ $1,454 $2,364 $6,481
$63,076 - $118,077 $1,292 $2,101 $5,759
$38,685 - $63,076 $1,124 $1,828 $5,013
$23,078 - $38,685 $975 $1,586 $4,347
$0-$23,078 $647 $1,053 $2,887
Hhld. Income Quintile
$191,900+ $1,387 $2,256 $6,185
$102,458 - $191,900 $1,232 $2,003 $5,491
$60,945 - $102,458 $1,111 $1,807 $4,953
$33,624 - $60,945 $991 $1,611 $4,416
$0-$33,624 $727 $1,183 $3,242
Shared Earn. Quintile
$106,162+ $1,570 $2,554 $7,001
$74,636 - $106,162 $1,300 $2,114 $5,797
$52,919 - $74,636 $1,070 $1,740 $4,770
$32,782 - $52,919 $876 $1,425 $3,907
$0-$32,782 $611 $993 $2,724
Benefit Type
Retired Worker $1,055 $1,716 $4,705
Spousal & Worker $671 $1,091 $2,991
Spousal Only $411 $668 $1,830
Survivor & Worker $1,237 $2,012 $5,517
Survivor Only $898 $1,460 $4,002
Retired Disabled $1,033 $1,680 $4,606
Disabled Worker $1,011 $1,644 $4,508
Claiming Age
62 or younger $899 $1,462 $4,009
63–66 $1,191 $1,937 $5,311
67 or older $1,475 $2,399 $6,576
Quarters of Coverage
201+ $1,409 $2,292 $6,283
161–200 $1,188 $1,932 $5,297
81–160 $877 $1,427 $3,912
0–80 $579 $942 $2,583
Own AIME Quintile
$8,955+ $1,600 $2,602 $7,133
$5,945 - $8,955 $1,273 $2,070 $5,676
$4,095 - $5,945 $993 $1,614 $4,426
$2,356 - $4,095 $778 $1,266 $3,471
$0-$2,356 $572 $931 $2,552
Paying AIME Quintile
$10,370+ $1,602 $2,606 $7,144
$7,219 - $10,370 $1,350 $2,196 $6,021
$5,128 - $7,219 $1,093 $1,778 $4,875
$3,307 - $5,128 $854 $1,388 $3,805
$0-$3,307 $575 $935 $2,564
Hhld. Benefit Quintile
$3,486+ $1,395 $2,269 $6,221
$2,564 - $3,486 $1,264 $2,055 $5,635
$1,975 - $2,564 $1,313 $2,135 $5,854
$1,382 - $1,975 $996 $1,620 $4,441
$0-$1,382 $624 $1,015 $2,784
Adj. Gross Income
$146,400+ $1,403 $2,281 $6,254
$99,794 - $146,400 $1,223 $1,988 $5,451
$66,090 - $99,794 $1,145 $1,862 $5,104
$1 - $66,090 $936 $1,522 $4,172
$0.00 $864 $1,406 $3,854
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.
Table 8. Median Monthly Payable Benefit, 2050
Characteristic Wage-Adjusted (2012 $) Inflation-Adjusted (2012 $) Nominal
(2050 $)
Total $821 $1,334 $3,658
Sex
Female $749 $1,218 $3,338
Male $900 $1,464 $4,013
Race/Ethnicity
Hispanic $689 $1,120 $3,070
White $878 $1,427 $3,912
Black $731 $1,189 $3,261
Other $824 $1,340 $3,673
Immigration
Immigrant $711 $1,156 $3,170
Native Born $851 $1,384 $3,794
Age
60–69 $761 $1,237 $3,391
70–79 $810 $1,318 $3,613
80–89 $875 $1,423 $3,902
90+ $916 $1,490 $4,084
Marital Status
Never Married $733 $1,192 $3,268
Married $784 $1,275 $3,496
Divorced $837 $1,361 $3,730
Widowed $927 $1,508 $4,134
Education
Graduate $1,069 $1,739 $4,767
Bachelor $1,007 $1,638 $4,491
Associate $818 $1,329 $3,645
High School $728 $1,183 $3,244
Less than 12 Yrs $593 $964 $2,643
Indiv. Income Quintile
$118,077+ $1,137 $1,849 $5,068
$63,076 - $118,077 $1,010 $1,643 $4,504
$38,685 - $63,076 $879 $1,430 $3,920
$23,078 - $38,685 $762 $1,240 $3,399
$0-$23,078 $506 $823 $2,257
Hhld. Income Quintile
$191,900+ $1,085 $1,764 $4,837
$102,458 - $191,900 $963 $1,566 $4,294
$60,945 - $102,458 $869 $1,413 $3,874
$33,624 - $60,945 $775 $1,260 $3,454
$0-$33,624 $569 $925 $2,535
Shared Earn. Quintile
$106,162+ $1,228 $1,997 $5,475
$74,636 - $106,162 $1,017 $1,653 $4,533
$52,919 - $74,636 $837 $1,361 $3,730
$32,782 - $52,919 $685 $1,115 $3,056
$0-$32,782 $478 $777 $2,130
Benefit Type
Retired Worker $825 $1,342 $3,679
Spousal & Worker $525 $853 $2,339
Spousal Only $321 $522 $1,431
Survivor & Worker $968 $1,574 $4,314
Survivor Only $702 $1,141 $3,129
Retired Disabled $808 $1,314 $3,602
Disabled Worker $791 $1,286 $3,525
Claiming Age
62 or younger $703 $1,144 $3,135
63–66 $932 $1,515 $4,153
67 or older $1,153 $1,876 $5,142
Quarters of Coverage
201+ $1,102 $1,792 $4,914
161–200 $929 $1,511 $4,142
81–160 $686 $1,116 $3,059
0–80 $453 $737 $2,020
Own AIME Quintile
$8,955+ $1,251 $2,035 $5,578
$5,945 - $8,955 $996 $1,619 $4,439
$4,095 - $5,945 $776 $1,263 $3,461
$2,356 - $4,095 $609 $990 $2,714
$0-$2,356 $448 $728 $1,995
Paying AIME Quintile
$10,370+ $1,253 $2,038 $5,587
$7,219 - $10,370 $1,056 $1,717 $4,708
$5,128 - $7,219 $855 $1,390 $3,812
$3,307 - $5,128 $667 $1,085 $2,976
$0-$3,307 $450 $731 $2,005
Hhld. Benefit Quintile
$3,486+ $1,091 $1,774 $4,865
$2,564 - $3,486 $988 $1,607 $4,407
$1,975 - $2,564 $1,027 $1,670 $4,577
$1,382 - $1,975 $779 $1,267 $3,473
$0-$1,382 $488 $794 $2,177
Adj. Gross Income
$146,400+ $1,097 $1,784 $4,891
$99,794 - $146,400 $956 $1,555 $4,263
$66,090 - $99,794 $895 $1,456 $3,991
$1 - $66,090 $732 $1,190 $3,262
$0.00 $676 $1,099 $3,014
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
Note: This proposal is based on specifications received from outside the Social Security Administration, unless noted otherwise. It does not represent the views of the agency.