Tbl_III_E1.html—Act. Study No.119

III.E1.—Average Monthly Benefit of Retired Workers In Force, Awarded, Terminated, and In Current-Payment Status

(By gender, calendar years 1980-2014)

[Numbers in thousands]
Year	Benefit increase (percent)	In force beginning of year		Awards during year		Terminations during year			In force end of year		Current-payment status end of year
Year	Benefit increase (percent)	Number	Average benefit	Number	Average benefit	Number	Ratio to average benefit in force beginning of year	Average benefit	Number	Average benefit	Ratio to average benefit in force end of year	Average benefit
	Male
1980	14.3	10,569.0	$331.38	942.1	$425.00	681.4	0.8934	$338.39	10,829.7	$385.33	0.9866	$380.18
1985	3.1	11,867.6	521.60	982.6	525.65	733.5	.8460	454.98	12,116.0	541.80	.9937	538.37
1990	5.4	13,029.7	642.38	967.0	688.99	748.2	.8802	595.97	13,248.3	682.52	.9952	679.27
1995	2.6	14,033.0	788.59	923.9	815.15	794.0	.9085	735.07	14,163.8	813.64	.9958	810.21
1996	2.9	14,163.8	813.64	902.0	844.35	799.1	.9163	767.20	14,267.6	841.61	.9958	838.11
1997	2.1	14,267.6	841.61	895.7	872.45	804.5	.9191	789.80	14,359.0	864.00	.9959	860.47
1998	1.3	14,359.0	864.00	894.9	893.89	813.8	.9189	804.26	14,440.0	880.39	.9961	876.93
1999	¹ 2.5	14,440.0	880.39	940.4	940.03	825.2	.9377	846.19	14,556.2	908.02	.9963	904.62
2000	3.5	14,556.2	908.02	1,116.5	1,023.53	825.1	.9179	862.64	14,845.1	950.39	1.0007	951.05
2001	2.6	14,845.1	950.39	982.1	1,034.95	828.6	.9120	889.33	14,998.3	983.76	1.0008	984.58
2002	1.4	14,998.3	983.76	1,001.1	1,077.24	831.1	1.0273	1,024.81	15,167.1	1,001.30	1.0065	1,007.81
2003	2.1	15,167.1	1,001.30	969.2	1,111.58	818.8	.8217	840.06	15,317.9	1,037.72	1.0009	1,038.68
2004	2.7	15,317.9	1,037.72	1,009.5	1,134.39	820.6	.9147	974.84	15,506.0	1,075.02	1.0010	1,076.11
2005	2.0	15,506.0	1,075.02	1,034.8	1,155.04	829.7	.9498	1,041.47	15,708.7	1,103.28	1.0010	1,104.71
2006	2.2	15,708.7	1,103.28	1,087.0	1,189.29	828.9	.9569	1,079.00	15,966.8	1,134.28	1.0010	1,135.69
2007	2.7	15,966.8	1,134.28	1,158.5	1,229.23	837.7	.9534	1,110.57	16,287.6	1,172.27	1.0010	1,173.74
2008	2.8	16,287.6	1,172.27	1,243.4	1,269.72	856.1	.9417	1,134.80	16,674.9	1,213.53	1.0010	1,215.03
2009	2.8	16,674.9	1,213.53	1,351.5	1,324.51	878.2	.8949	1,116.35	17,148.2	1,260.29	1.0010	1,261.85
2010	2.8	17,148.2	1,260.29	1,400.9	1,383.73	904.1	.8726	1,130.46	17,645.0	1,311.04	1.0010	1,312.66
2011	2.8	17,645.0	1,311.04	1,473.9	1,445.89	931.5	.8566	1,154.54	18,187.3	1,365.60	1.0010	1,367.25
2012	2.8	18,187.3	1,365.60	1,559.7	1,510.89	944.5	.8629	1,211.38	18,802.5	1,422.38	1.0010	1,424.12
2013	2.8	18,802.5	1,422.38	1,619.7	1,574.65	959.8	.8683	1,269.71	19,462.4	1,481.06	1.0010	1,482.87
2014	2.8	19,462.4	1,481.06	1,651.1	1,636.70	977.1	.8738	1,330.38	20,136.4	1,541.22	1.0010	1,543.13
	Female
1980	14.3	8,872.5	257.80	670.6	276.10	347.2	.5597	164.92	9,195.9	298.21	.9955	296.86
1985	3.1	10,438.8	397.58	699.8	331.84	415.0	.4825	197.79	10,723.5	413.02	.9977	412.09
1990	5.4	11,732.6	488.73	687.1	424.23	466.1	.5393	277.82	11,953.4	519.15	.9988	518.55
1995	2.6	12,712.5	601.76	684.2	518.80	536.0	.6281	387.79	12,860.9	621.73	.9992	621.22
1996	2.9	12,860.9	621.73	678.5	539.32	547.6	.6408	409.99	12,992.2	644.20	.9992	643.70
1997	2.1	12,992.2	644.20	822.1	592.00	560.6	.6615	435.07	13,253.6	663.07	.9992	662.53
1998	1.3	13,253.6	663.07	735.9	584.57	585.1	.6756	453.78	13,404.4	676.42	.9993	675.93
1999	¹ 2.5	13,404.4	676.42	748.8	613.82	605.2	.7074	490.45	13,548.8	698.00	.9993	697.50
2000	3.5	13,548.8	698.00	842.8	665.29	615.7	.6706	484.46	13,776.0	729.57	1.0004	729.89
2001	2.6	13,776.0	729.57	795.7	684.55	624.8	.6744	504.78	13,946.8	755.81	1.0005	756.18
2002	1.4	13,946.8	755.81	811.4	713.11	628.0	.6355	487.01	14,129.7	775.75	.9979	774.09
2003	2.1	14,129.7	775.75	822.1	740.43	625.9	.7656	606.39	14,326.1	797.19	1.0005	797.62
2004	2.7	14,326.1	797.19	873.5	760.96	628.7	.7085	580.06	14,569.8	825.55	1.0007	826.09
2005	2.0	14,569.8	825.55	892.7	775.19	642.1	.8025	675.71	14,819.7	845.24	1.0007	846.03
2006	2.2	14,819.7	845.24	932.2	801.37	628.1	.7130	615.93	15,123.8	870.28	1.0007	871.05
2007	2.7	15,123.8	870.28	991.3	831.27	640.8	.6933	619.62	15,474.3	901.13	1.0007	901.93
2008	2.8	15,474.3	901.13	1,075.7	861.18	666.7	.6753	625.54	15,883.3	934.57	1.0007	935.39
2009	2.8	15,883.3	934.57	1,184.0	902.80	687.5	.6264	601.80	16,379.7	971.62	1.0007	972.47
2010	2.8	16,379.7	971.62	1,235.5	946.33	708.3	.6023	601.61	16,907.0	1,011.63	1.0007	1,012.52
2011	2.8	16,907.0	1,011.63	1,303.0	992.60	727.5	.5864	609.84	17,482.5	1,054.32	1.0007	1,055.22
2012	2.8	17,482.5	1,054.32	1,384.0	1,042.52	739.8	.5860	635.11	18,126.8	1,099.00	1.0007	1,099.95
2013	2.8	18,126.8	1,099.00	1,441.8	1,091.75	751.0	.5825	658.04	18,817.5	1,145.69	1.0007	1,146.68
2014	2.8	18,817.5	1,145.69	1,481.3	1,138.47	762.8	.5821	685.55	19,536.1	1,194.01	1.0007	1,195.06

¹Benefit increase for 1999 was originally determined as 2.4 percent, but pursuant to Public Law 106-554 is effectively now 2.5 percent.

Number in force and number awarded shown earlier.

Number terminated calculated as in force beginning of year plus awards during year minus in force end of year.

Average benefit awarded, shown earlier.

Historical ratio of average terminated benefit to average benefit in force computed by division of corresponding figures where the average benefit in force at the beginning of the year has been adjusted to the end-of-year rate; future ratios projected based on historical trend.

Historical average terminated benefit computed by dividing (a) number in force at beginning of year times average benefit in force, plus number of awards times average benefit awarded at beginning-of-year rate, minus number in force at end of year times average benefit in force at beginning-of-year rates, by (b) number of terminations. Future average terminated benefit computed by applying applicable ratio to average benefit in force at beginning of year.

Historical average benefit in force from 1-A Table In Force Supplement. Future average benefit in force at end of year computed by dividing (a) number in force at beginning of year times average benefit in force at end-of-year rate, plus number of awards times average benefit awarded at end-of-year rate, minus number of terminations times average terminated benefit at end of year rate, by (b) number in force at end of year.

Historical ratio of average benefit in current-payment status to average benefit in force computed by division of corresponding figures; future ratios projected based on historical trend.

Historical average benefit in current-payment status from 1-A Table Current-Payment Supplement; future average benefit computed by applying applicable ratio to average benefit in force.

Note: Future estimates based on 2005 Trustees Report intermediate set of assumptions.

Short-Range Actuarial Projections of the Old-Age, Survivors, and Disability Insurance Program, 2005
ACTUARIAL STUDY NO. 119 by Chris Motsiopoulos and Richard B. Tucker

Short-Range Actuarial Projectionsof the Old-Age, Survivors, and Disability Insurance Program, 2005

Short-Range Actuarial Projections
of the Old-Age, Survivors, and
Disability Insurance Program, 2005