Single-Year Tables Consistent With the 2024 SSI Annual Report
Table IV.A2.—SSI Federal Benefit Rate Increases and Levels:
Historical and Projected on the Basis of the Intermediate Assumptions of the 2024 OASDI Trustees Report
1974-2048
Historical and Projected on the Basis of the Intermediate Assumptions of the 2024 OASDI Trustees Report
1974-2048
| Federal benefit rate | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year | Social Security benefit rate increasea, b | SSI benefit rate increasea, c | Individual | Couple | Essential persond | |||||
Historical data: | ||||||||||
| Initial benefit paid January 1, 1974 e | — | — | $140.00 | $210.00 | $70.00 | |||||
| 1974 | f 4.3 | 146.00 | 219.00 | 73.00 | ||||||
| 1975 | 8.0 | 8.0 | 157.70 | 236.60 | 78.90 | |||||
| 1976 | 6.4 | 6.4 | 167.80 | 251.80 | 84.00 | |||||
| 1977 | 5.9 | 5.9 | 177.80 | 266.70 | 89.00 | |||||
| 1978 | 6.5 | 6.5 | 189.40 | 284.10 | 94.80 | |||||
| 1979 | 9.9 | 9.9 | 208.20 | 312.30 | 104.20 | |||||
| 1980 | 14.3 | 14.3 | 238.00 | 357.00 | 119.20 | |||||
| 1981 | 11.2 | 11.2 | 264.70 | 397.00 | 132.60 | |||||
| 1982 | 7.4 | 7.4 | 284.30 | 426.40 | 142.50 | |||||
| 1983 | 3.5 | f 7.0 | 304.30 | 456.40 | 152.50 | |||||
| 1984 | 3.5 | 3.5 | 314.00 | 472.00 | 157.00 | |||||
| 1985 | 3.1 | 3.5 | 325.00 | 488.00 | 163.00 | |||||
| 1986 | 1.3 | 3.1 | 336.00 | 504.00 | 168.00 | |||||
| 1987 | 4.2 | 1.3 | 340.00 | 510.00 | 170.00 | |||||
| 1988 | 4.0 | 4.2 | 354.00 | 532.00 | 177.00 | |||||
| 1989 | 4.7 | 4.0 | 368.00 | 553.00 | 184.00 | |||||
| 1990 | 5.4 | 4.7 | 386.00 | 579.00 | 193.00 | |||||
| 1991 | 3.7 | 5.4 | 407.00 | 610.00 | 204.00 | |||||
| 1992 | 3.0 | 3.7 | 422.00 | 633.00 | 211.00 | |||||
| 1993 | 2.6 | 3.0 | 434.00 | 652.00 | 217.00 | |||||
| 1994 | 2.8 | 2.6 | 446.00 | 669.00 | 223.00 | |||||
| 1995 | 2.6 | 2.8 | 458.00 | 687.00 | 229.00 | |||||
| 1996 | 2.9 | 2.6 | 470.00 | 705.00 | 235.00 | |||||
| 1997 | 2.1 | 2.9 | 484.00 | 726.00 | 242.00 | |||||
| 1998 | 1.3 | 2.1 | 494.00 | 741.00 | 247.00 | |||||
| 1999 | g 2.5 | 1.3 | 500.00 | 751.00 | 250.00 | |||||
| 2000 | 3.5 | g 2.5 | h 513.00 | 769.00 | 257.00 | |||||
| 2001 | 2.6 | 3.5 | h 531.00 | 796.00 | 266.00 | |||||
| 2002 | 1.4 | 2.6 | 545.00 | 817.00 | 273.00 | |||||
| 2003 | 2.1 | 1.4 | 552.00 | 829.00 | 277.00 | |||||
| 2004 | 2.7 | 2.1 | 564.00 | 846.00 | 282.00 | |||||
| 2005 | 4.1 | 2.7 | 579.00 | 869.00 | 290.00 | |||||
| 2006 | 3.3 | 4.1 | 603.00 | 904.00 | 302.00 | |||||
| 2007 | 2.3 | 3.3 | 623.00 | 934.00 | 312.00 | |||||
| 2008 | 5.8 | 2.3 | 637.00 | 956.00 | 319.00 | |||||
| 2009 | 0.0 | 5.8 | 674.00 | 1,011.00 | 338.00 | |||||
| 2010 | 0.0 | 0.0 | 674.00 | 1,011.00 | 338.00 | |||||
| 2011 | 3.6 | 0.0 | 674.00 | 1,011.00 | 338.00 | |||||
| 2012 | 1.7 | 3.6 | 698.00 | 1,048.00 | 350.00 | |||||
| 2013 | 1.5 | 1.7 | 710.00 | 1,066.00 | 356.00 | |||||
| 2014 | 1.7 | 1.5 | 721.00 | 1,082.00 | 361.00 | |||||
| 2015 | 0.0 | 1.7 | 733.00 | 1,100.00 | 367.00 | |||||
| 2016 | 0.3 | 0.0 | 733.00 | 1,100.00 | 367.00 | |||||
| 2017 | 2.0 | 0.3 | 735.00 | 1,103.00 | 368.00 | |||||
| 2018 | 2.8 | 2.0 | 750.00 | 1,125.00 | 376.00 | |||||
| 2019 | 1.6 | 2.8 | 771.00 | 1,157.00 | 386.00 | |||||
| 2020 | 1.3 | 1.6 | 783.00 | 1,175.00 | 392.00 | |||||
| 2021 | 5.9 | 1.3 | 794.00 | 1,191.00 | 397.00 | |||||
| 2022 | 8.7 | 5.9 | 841.00 | 1,261.00 | 421.00 | |||||
| 2023 | 3.2 | 8.7 | 914.00 | 1,371.00 | 458.00 | |||||
| 2024 | 2.6 | 3.2 | 943.00 | 1,415.00 | 472.00 | |||||
Projected: |
||||||||||
| 2025 | 2.2 | 2.6 | 967.00 | 1,451.00 | 485.00 | |||||
| 2026 | 2.4 | 2.2 | 989.00 | 1,483.00 | 495.00 | |||||
| 2027 | 2.4 | 2.4 | 1,013.00 | 1,519.00 | 507.00 | |||||
| 2028 | 2.4 | 2.4 | 1,037.00 | 1,555.00 | 519.00 | |||||
| 2029 | 2.4 | 2.4 | 1,062.00 | 1,593.00 | 532.00 | |||||
| 2030 | 2.4 | 2.4 | 1,087.00 | 1,631.00 | 545.00 | |||||
| 2031 | 2.4 | 2.4 | 1,113.00 | 1,670.00 | 558.00 | |||||
| 2032 | 2.4 | 2.4 | 1,140.00 | 1,710.00 | 571.00 | |||||
| 2033 | 2.4 | 2.4 | 1,167.00 | 1,751.00 | 585.00 | |||||
| 2034 | 2.4 | 2.4 | 1,195.00 | 1,793.00 | 599.00 | |||||
| 2035 | 2.4 | 2.4 | 1,224.00 | 1,836.00 | 613.00 | |||||
| 2036 | 2.4 | 2.4 | 1,254.00 | 1,880.00 | 628.00 | |||||
| 2037 | 2.4 | 2.4 | 1,284.00 | 1,926.00 | 643.00 | |||||
| 2038 | 2.4 | 2.4 | 1,314.00 | 1,972.00 | 658.00 | |||||
| 2039 | 2.4 | 2.4 | 1,346.00 | 2,019.00 | 674.00 | |||||
| 2040 | 2.4 | 2.4 | 1,378.00 | 2,068.00 | 691.00 | |||||
| 2041 | 2.4 | 2.4 | 1,411.00 | 2,117.00 | 707.00 | |||||
| 2042 | 2.4 | 2.4 | 1,445.00 | 2,168.00 | 724.00 | |||||
| 2043 | 2.4 | 2.4 | 1,480.00 | 2,220.00 | 741.00 | |||||
| 2044 | 2.4 | 2.4 | 1,516.00 | 2,273.00 | 759.00 | |||||
| 2045 | 2.4 | 2.4 | 1,552.00 | 2,328.00 | 778.00 | |||||
| 2046 | 2.4 | 2.4 | 1,589.00 | 2,384.00 | 796.00 | |||||
| 2047 | 2.4 | 2.4 | 1,627.00 | 2,441.00 | 815.00 | |||||
| 2048 | 2.4 | 2.4 | 1,666.00 | 2,500.00 | 835.00 | |||||
a In this table the Social Security COLA is shown because
it is used for the determination of the increase in the FBR each year. However, the actual
application of these increases is different. For example, a newly eligible Social Security
beneficiary in one year will generally receive a benefit in that year that is larger
than the first year benefit for an equivalent worker who became eligible a year earlier by the
increase in the average wage level in the economy. The average wage level has historically
increased on average by about 1 percent relative to the annual increase in the CPI-W, on which the
COLA is based.
b Increases prior to 1984 were effective for the
payment due for June of the year. Increases shown for 1984 and later are effective
for the payment due for December of the year.
c Increases prior to 1984 were effective for the
payment due on July 1 of the year. Increases shown for 1984 and later are effective
for the payment due on January 1 of the year.
d A concept carried over from the former State
assistance plans. As of February 2024, there were only 4 of these cases remaining.
e Benefits paid in January, 1974 were based on
the Federal benefit rates established by Public Law 92-603, enacted October 30, 1972:
$130.00 for individuals; $195.00 for couples; and $65.00 for essential persons.
Retroactive payments were subsequently made to adjust initial payments to the higher
Federal benefit rates established by Public Law 93-233, enacted December 31, 1973.
f Ad hoc increases as specified in the law.
g Originally determined as 2.4 percent, but pursuant to
Public Law 106-554, enacted December 21, 2000, is effectively now 2.5 percent.
h Benefits originally paid in 2000 and through July 2001
were based on Federal benefit rates of $512.00 and $530.00, respectively. Pursuant to
Public Law 106-554, monthly payments beginning in August 2001 were effectively based on the
higher $531 amount. Lump-sum compensation payments were made based on an adjusted benefit
rate for months prior to August 2001.