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Program Explainers

  1. Retirement
    Earnings Test
  2. Scheduled vs.
    Payable Benefits
  3. Special
    Minimum Benefit
  4. Why Will Poverty Decline
    for Beneficiaries?

Scheduled vs. Payable Benefits

Released: March 2015
Next expected update: 2018

DEFINITIONS:

  • Scheduled benefits are benefits specified under current law without regard to the balances in the Social Security trust funds.
  • Payable benefits are what can be paid to all beneficiaries after trust fund exhaustion, currently projected to occur in 2033. After that, incoming revenues will be enough to pay about 75 percent of scheduled benefits.
Average (Median) Monthly Benefit, 2030–2070 a
In 2015 dollars
Bar chart linked to data in table format.
SOURCE: Modeling Income in the Near Term, Version 7 (MINT7) microsimulation model using 2012 Trustees Report intermediate assumptions.
Difference Between Scheduled and Payable Benefits, 2015–2080 a
Line chart linked to data in table format.
SOURCE: Assumptions from the 2012 Trustees Report.
Poverty Rate, 2015–2080 a
Line chart linked to data in table format.
SOURCE: Modeling Income in the Near Term, Version 7 (MINT7) microsimulation model using 2012 Trustees Report intermediate assumptions.
a. All projections are for beneficiaries aged 60 or older.