Benefit Formula Changes

Reduce initial benefits by 5%

Projected effects on beneficiaries in 2050

Compare all options »

Table 1. Individual benefits 2050: Reduce benefits 5 percent versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total -5% 95% 0%
Sex
Female -5% 94% 0%
Male -5% 97% 0%
Race/Ethnicity
Hispanic -5% 97% 0%
White -5% 95% 0%
Black -5% 95% 0%
Other -5% 97% 0%
Immigration
Immigrant -5% 97% 0%
Native Born -5% 95% 0%
Age
60–69 -5% 97% 0%
70–79 -5% 96% 0%
80–89 -5% 95% 0%
90+ -5% 87% 0%
Marital Status
Never Married -5% 98% 0%
Married -5% 99% 0%
Divorced -5% 89% 0%
Widowed -5% 91% 0%
Education
Graduate -5% 97% 0%
Bachelor -5% 97% 0%
Associate -5% 95% 0%
High School -5% 94% 0%
Less than 12 Yrs -5% 97% 0%
Indiv. Income Quintile
$118,077+ -5% 97% 0%
$63,076 - $118,077 -5% 97% 0%
$38,685 - $63,076 -5% 95% 0%
$23,078 - $38,685 -5% 95% 0%
$0-$23,078 -5% 94% 0%
Hhld. Income Quintile
$191,900+ -5% 97% 0%
$102,458 - $191,900 -5% 98% 0%
$60,945 - $102,458 -5% 97% 0%
$33,624 - $60,945 -5% 95% 0%
$0-$33,624 -5% 91% 0%
Shared Earn. Quintile
$106,162+ -5% 98% 0%
$74,636 - $106,162 -5% 97% 0%
$52,919 - $74,636 -5% 96% 0%
$32,782 - $52,919 -5% 94% 0%
$0-$32,782 -5% 93% 0%
Benefit Type
Retired Worker -5% 100% 0%
Spousal & Worker -5% 100% 0%
Spousal Only -5% 98% 1%
Survivor & Worker -4% 77% 0%
Survivor Only -4% 76% 0%
Retired Disabled -5% 92% 0%
Disabled Worker -5% 97% 0%
Claiming Age
62 or younger -5% 94% 0%
63–66 -5% 97% 0%
67 or older -5% 97% 0%
Quarters of Coverage
201+ -5% 98% 0%
161–200 -5% 97% 0%
81–160 -5% 95% 0%
0–80 -5% 90% 0%
Own AIME Quintile
$8,955+ -5% 99% 0%
$5,945 - $8,955 -5% 97% 0%
$4,095 - $5,945 -5% 96% 0%
$2,356 - $4,095 -5% 93% 0%
$0-$2,356 -5% 92% 0%
Paying AIME Quintile
$10,370+ -5% 96% 0%
$7,219 - $10,370 -5% 95% 0%
$5,128 - $7,219 -5% 95% 0%
$3,307 - $5,128 -5% 96% 0%
$0-$3,307 -5% 96% 0%
Hhld. Benefit Quintile
$3,486+ -5% 99% 0%
$2,564 - $3,486 -5% 98% 0%
$1,975 - $2,564 -5% 95% 0%
$1,382 - $1,975 -5% 93% 0%
$0-$1,382 -5% 92% 0%
Adj. Gross Income
$146,400+ -5% 98% 0%
$99,794 - $146,400 -5% 98% 0%
$66,090 - $99,794 -5% 97% 0%
$1 - $66,090 -5% 95% 0%
$0.00 -5% 92% 0%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 11/27/2012
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: Reduce benefits 5 percent versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 21% 0% 100%
Sex
Female 21% 0% 100%
Male 21% 0% 100%
Race/Ethnicity
Hispanic 21% 1% 99%
White 21% 0% 100%
Black 21% 0% 100%
Other 21% 1% 99%
Immigration
Immigrant 21% 1% 99%
Native Born 21% 0% 100%
Age
60–69 21% 1% 99%
70–79 21% 0% 100%
80–89 21% 0% 100%
90+ 21% 0% 100%
Marital Status
Never Married 21% 1% 99%
Married 21% 0% 100%
Divorced 21% 0% 100%
Widowed 21% 0% 100%
Education
Graduate 21% 0% 100%
Bachelor 21% 1% 99%
Associate 21% 0% 100%
High School 21% 0% 100%
Less than 12 Yrs 21% 0% 100%
Indiv. Income Quintile
$118,077+ 21% 1% 99%
$63,076 - $118,077 21% 1% 99%
$38,685 - $63,076 21% 0% 100%
$23,078 - $38,685 21% 0% 100%
$0-$23,078 21% 0% 100%
Hhld. Income Quintile
$191,900+ 21% 1% 99%
$102,458 - $191,900 21% 1% 99%
$60,945 - $102,458 21% 0% 100%
$33,624 - $60,945 21% 0% 100%
$0-$33,624 21% 0% 100%
Shared Earn. Quintile
$106,162+ 21% 1% 99%
$74,636 - $106,162 21% 0% 100%
$52,919 - $74,636 21% 0% 100%
$32,782 - $52,919 21% 0% 100%
$0-$32,782 21% 0% 100%
Benefit Type
Retired Worker 21% 1% 99%
Spousal & Worker 21% 0% 100%
Spousal Only 21% 1% 99%
Survivor & Worker 21% 0% 100%
Survivor Only 21% 1% 99%
Retired Disabled 21% 0% 100%
Disabled Worker 21% 0% 100%
Claiming Age
62 or younger 21% 0% 100%
63–66 21% 1% 99%
67 or older 21% 0% 100%
Quarters of Coverage
201+ 21% 1% 99%
161–200 21% 0% 100%
81–160 21% 0% 100%
0–80 21% 0% 100%
Own AIME Quintile
$8,955+ 21% 0% 100%
$5,945 - $8,955 21% 0% 100%
$4,095 - $5,945 21% 0% 100%
$2,356 - $4,095 21% 0% 100%
$0-$2,356 21% 0% 100%
Paying AIME Quintile
$10,370+ 21% 0% 100%
$7,219 - $10,370 21% 0% 100%
$5,128 - $7,219 21% 0% 100%
$3,307 - $5,128 21% 0% 100%
$0-$3,307 21% 0% 100%
Hhld. Benefit Quintile
$3,486+ 21% 0% 100%
$2,564 - $3,486 21% 0% 100%
$1,975 - $2,564 21% 0% 100%
$1,382 - $1,975 21% 0% 100%
$0-$1,382 21% 1% 99%
Adj. Gross Income
$146,400+ 21% 1% 99%
$99,794 - $146,400 21% 1% 99%
$66,090 - $99,794 21% 0% 100%
$1 - $66,090 21% 1% 99%
$0.00 21% 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: 11/27/2012
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: Reduce benefits 5 percent 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 0% 0% 95% 5% 0% 0% 0%
Sex
Female 0% 0% 93% 6% 0% 0% 0%
Male 1% 0% 97% 3% 0% 0% 0%
Race/Ethnicity
Hispanic 1% 0% 96% 3% 0% 0% 0%
White 0% 0% 94% 5% 0% 0% 0%
Black 0% 0% 94% 5% 0% 0% 0%
Other 1% 0% 96% 3% 0% 0% 0%
Immigration
Immigrant 1% 0% 96% 3% 0% 0% 0%
Native Born 0% 0% 94% 5% 0% 0% 0%
Age
60–69 1% 1% 94% 3% 0% 0% 0%
70–79 0% 0% 96% 4% 0% 0% 0%
80–89 0% 0% 95% 5% 0% 0% 0%
90+ 0% 0% 87% 13% 0% 0% 0%
Marital Status
Never Married 1% 0% 97% 2% 0% 0% 0%
Married 1% 0% 98% 1% 0% 0% 0%
Divorced 1% 0% 88% 11% 0% 0% 0%
Widowed 0% 0% 90% 9% 0% 0% 0%
Education
Graduate 1% 0% 96% 3% 0% 0% 0%
Bachelor 1% 0% 96% 3% 0% 0% 0%
Associate 0% 0% 94% 5% 0% 0% 0%
High School 0% 0% 93% 6% 0% 0% 0%
Less than 12 Yrs 1% 0% 96% 3% 0% 0% 0%
Indiv. Income Quintile
$118,077+ 1% 0% 95% 3% 0% 0% 0%
$63,076 - $118,077 1% 1% 95% 3% 0% 0% 0%
$38,685 - $63,076 1% 0% 94% 5% 0% 0% 0%
$23,078 - $38,685 0% 0% 94% 5% 0% 0% 0%
$0-$23,078 0% 0% 94% 6% 0% 0% 0%
Hhld. Income Quintile
$191,900+ 1% 0% 96% 3% 0% 0% 0%
$102,458 - $191,900 1% 0% 96% 2% 0% 0% 0%
$60,945 - $102,458 1% 0% 96% 3% 0% 0% 0%
$33,624 - $60,945 0% 0% 94% 5% 0% 0% 0%
$0-$33,624 0% 0% 91% 9% 0% 0% 0%
Shared Earn. Quintile
$106,162+ 1% 0% 97% 2% 0% 0% 0%
$74,636 - $106,162 0% 0% 96% 3% 0% 0% 0%
$52,919 - $74,636 0% 0% 95% 4% 0% 0% 0%
$32,782 - $52,919 0% 0% 93% 6% 0% 0% 0%
$0-$32,782 0% 0% 92% 7% 0% 0% 0%
Benefit Type
Retired Worker 1% 0% 99% 0% 0% 0% 0%
Spousal & Worker 0% 0% 100% 0% 0% 0% 0%
Spousal Only 1% 1% 97% 1% 0% 0% 1%
Survivor & Worker 0% 0% 77% 23% 0% 0% 0%
Survivor Only 1% 2% 74% 24% 0% 0% 0%
Retired Disabled 0% 0% 92% 8% 0% 0% 0%
Disabled Worker 0% 0% 97% 3% 0% 0% 0%
Claiming Age
62 or younger 0% 0% 93% 6% 0% 0% 0%
63–66 1% 0% 96% 3% 0% 0% 0%
67 or older 0% 0% 96% 3% 0% 0% 0%
Quarters of Coverage
201+ 1% 0% 96% 2% 0% 0% 0%
161–200 0% 0% 96% 3% 0% 0% 0%
81–160 0% 0% 95% 5% 0% 0% 0%
0–80 0% 0% 89% 10% 0% 0% 0%
Own AIME Quintile
$8,955+ 1% 0% 98% 1% 0% 0% 0%
$5,945 - $8,955 1% 0% 96% 3% 0% 0% 0%
$4,095 - $5,945 0% 0% 95% 4% 0% 0% 0%
$2,356 - $4,095 0% 0% 92% 7% 0% 0% 0%
$0-$2,356 0% 0% 92% 8% 0% 0% 0%
Paying AIME Quintile
$10,370+ 1% 0% 95% 4% 0% 0% 0%
$7,219 - $10,370 0% 0% 94% 5% 0% 0% 0%
$5,128 - $7,219 0% 0% 94% 5% 0% 0% 0%
$3,307 - $5,128 0% 0% 95% 4% 0% 0% 0%
$0-$3,307 1% 0% 95% 4% 0% 0% 0%
Hhld. Benefit Quintile
$3,486+ 0% 0% 99% 1% 0% 0% 0%
$2,564 - $3,486 0% 0% 97% 2% 0% 0% 0%
$1,975 - $2,564 0% 0% 94% 5% 0% 0% 0%
$1,382 - $1,975 0% 0% 92% 7% 0% 0% 0%
$0-$1,382 2% 1% 90% 8% 0% 0% 0%
Adj. Gross Income
$146,400+ 1% 1% 97% 2% 0% 0% 0%
$99,794 - $146,400 1% 0% 97% 2% 0% 0% 0%
$66,090 - $99,794 1% 0% 96% 3% 0% 0% 0%
$1 - $66,090 1% 0% 94% 5% 0% 0% 0%
$0.00 0% 0% 92% 8% 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: 11/27/2012
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: Reduce benefits 5 percent 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% 0% 99%
Sex
Female 0% 0% 0% 0% 0% 1% 99%
Male 0% 0% 0% 0% 0% 0% 99%
Race/Ethnicity
Hispanic 0% 0% 0% 0% 0% 1% 99%
White 0% 0% 0% 0% 0% 0% 99%
Black 0% 0% 0% 0% 0% 0% 99%
Other 0% 0% 0% 0% 0% 0% 99%
Immigration
Immigrant 0% 0% 0% 0% 0% 0% 99%
Native Born 0% 0% 0% 0% 0% 0% 99%
Age
60–69 0% 0% 1% 0% 1% 0% 98%
70–79 0% 0% 0% 0% 0% 0% 100%
80–89 0% 0% 0% 0% 0% 1% 99%
90+ 0% 0% 0% 0% 0% 1% 99%
Marital Status
Never Married 0% 0% 0% 0% 0% 0% 99%
Married 0% 0% 0% 0% 0% 0% 99%
Divorced 0% 0% 0% 0% 0% 0% 99%
Widowed 0% 0% 0% 0% 0% 1% 99%
Education
Graduate 0% 0% 0% 0% 0% 1% 99%
Bachelor 0% 0% 0% 0% 0% 1% 99%
Associate 0% 0% 0% 0% 0% 1% 99%
High School 0% 0% 0% 0% 0% 0% 99%
Less than 12 Yrs 0% 0% 0% 0% 0% 0% 99%
Indiv. Income Quintile
$118,077+ 0% 0% 0% 0% 0% 1% 98%
$63,076 - $118,077 0% 0% 0% 0% 1% 1% 98%
$38,685 - $63,076 0% 0% 0% 0% 0% 1% 99%
$23,078 - $38,685 0% 0% 0% 0% 0% 0% 100%
$0-$23,078 0% 0% 0% 0% 0% 0% 100%
Hhld. Income Quintile
$191,900+ 0% 0% 0% 0% 0% 1% 98%
$102,458 - $191,900 0% 0% 0% 0% 1% 0% 98%
$60,945 - $102,458 0% 0% 0% 0% 0% 1% 99%
$33,624 - $60,945 0% 0% 0% 0% 0% 1% 99%
$0-$33,624 0% 0% 0% 0% 0% 0% 100%
Shared Earn. Quintile
$106,162+ 0% 0% 0% 0% 0% 0% 99%
$74,636 - $106,162 0% 0% 0% 0% 0% 1% 99%
$52,919 - $74,636 0% 0% 0% 0% 0% 1% 99%
$32,782 - $52,919 0% 0% 0% 0% 0% 0% 99%
$0-$32,782 0% 0% 0% 0% 0% 0% 99%
Benefit Type
Retired Worker 0% 0% 0% 0% 0% 0% 99%
Spousal & Worker 0% 0% 0% 0% 0% 2% 98%
Spousal Only 1% 0% 0% 0% 0% 1% 97%
Survivor & Worker 0% 0% 0% 0% 0% 1% 99%
Survivor Only 0% 0% 0% 0% 0% 3% 96%
Retired Disabled 0% 0% 0% 0% 0% 0% 100%
Disabled Worker 0% 0% 0% 0% 0% 0% 100%
Claiming Age
62 or younger 0% 0% 0% 0% 0% 0% 99%
63–66 0% 0% 0% 0% 0% 0% 99%
67 or older 0% 0% 0% 0% 0% 1% 99%
Quarters of Coverage
201+ 0% 0% 0% 0% 1% 0% 99%
161–200 0% 0% 0% 0% 0% 0% 99%
81–160 0% 0% 0% 0% 0% 1% 99%
0–80 0% 0% 0% 0% 0% 2% 98%
Own AIME Quintile
$8,955+ 0% 0% 0% 0% 0% 0% 99%
$5,945 - $8,955 0% 0% 0% 0% 0% 0% 99%
$4,095 - $5,945 0% 0% 0% 0% 0% 0% 99%
$2,356 - $4,095 0% 0% 0% 0% 0% 1% 99%
$0-$2,356 0% 0% 0% 0% 0% 1% 98%
Paying AIME Quintile
$10,370+ 0% 0% 0% 0% 0% 1% 99%
$7,219 - $10,370 0% 0% 0% 0% 0% 0% 99%
$5,128 - $7,219 0% 0% 0% 0% 0% 0% 99%
$3,307 - $5,128 0% 0% 0% 0% 0% 0% 99%
$0-$3,307 0% 0% 0% 0% 0% 1% 99%
Hhld. Benefit Quintile
$3,486+ 0% 0% 0% 0% 0% 0% 100%
$2,564 - $3,486 0% 0% 0% 0% 0% 0% 99%
$1,975 - $2,564 0% 0% 0% 0% 0% 0% 99%
$1,382 - $1,975 0% 0% 0% 0% 0% 0% 99%
$0-$1,382 1% 0% 1% 0% 1% 1% 97%
Adj. Gross Income
$146,400+ 0% 0% 0% 0% 1% 0% 98%
$99,794 - $146,400 0% 0% 0% 0% 0% 0% 99%
$66,090 - $99,794 0% 0% 0% 0% 0% 1% 98%
$1 - $66,090 0% 0% 0% 0% 1% 1% 98%
$0.00 0% 0% 0% 0% 0% 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: 11/27/2012
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: Reduce benefits 5 percent versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.9% 2.1% 0.2% 181,745
Sex
Female 2.4% 2.7% 0.3% 115,791
Male 1.3% 1.5% 0.2% 65,954
Race/Ethnicity
Hispanic 3.0% 3.4% 0.4% 55,693
White 1.2% 1.4% 0.2% 81,161
Black 3.9% 4.3% 0.3% 29,539
Other 2.2% 2.4% 0.2% 15,350
Immigration
Immigrant 2.9% 3.2% 0.3% 60,956
Native Born 1.6% 1.8% 0.2% 120,788
Age
60–69 2.4% 2.7% 0.3% 78,417
70–79 2.0% 2.2% 0.2% 71,236
80–89 1.4% 1.5% 0.1% 20,186
90+ 0.9% 1.1% 0.2% 11,904
Marital Status
Never Married 5.3% 6.1% 0.7% 64,388
Married 0.8% 0.9% 0.1% 37,843
Divorced 2.8% 3.0% 0.2% 38,876
Widowed 1.9% 2.1% 0.2% 40,637
Education
Graduate 0.6% 0.7% 0.1% 8,906
Bachelor 0.6% 0.7% 0.1% 13,043
Associate 1.3% 1.5% 0.3% 49,658
High School 2.6% 2.8% 0.2% 66,025
Less than 12 Yrs 6.3% 7.0% 0.7% 44,111
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% 10.7% 1.1% 181,745
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% 10.7% 1.1% 181,745
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% 4,583
$0-$32,782 9.4% 10.5% 1.1% 177,161
Benefit Type
Retired Worker 1.8% 2.0% 0.2% 110,486
Spousal & Worker 0.5% 0.5% 0.0% 1,384
Spousal Only 5.1% 5.3% 0.2% 2,339
Survivor & Worker 0.5% 0.6% 0.1% 9,972
Survivor Only 7.0% 7.7% 0.7% 6,547
Retired Disabled 2.7% 3.1% 0.4% 29,795
Disabled Worker 4.3% 4.8% 0.5% 21,220
Claiming Age
62 or younger 3.0% 3.3% 0.3% 133,962
63–66 0.8% 0.9% 0.1% 43,030
67 or older 1.3% 1.4% 0.1% 4,752
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.1% 0.1% 0.0% 3,156
81–160 1.4% 1.8% 0.4% 116,179
0–80 11.0% 11.7% 0.6% 62,409
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% 37,630
$0-$2,356 9.0% 9.9% 0.9% 144,115
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% 5,686
$0-$3,307 9.3% 10.4% 1.1% 174,673
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% 10.6% 1.1% 181,745
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% 10,658
$0.00 5.0% 5.7% 0.6% 170,468
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 11/27/2012
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: Reduce benefits 5 percent versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 3.5% 2.1% -1.3% -1,093,010
Sex
Female 4.1% 2.7% -1.5% -645,328
Male 2.7% 1.5% -1.2% -447,681
Race/Ethnicity
Hispanic 5.2% 3.4% -1.8% -249,982
White 2.4% 1.4% -1.0% -517,799
Black 7.1% 4.3% -2.8% -242,083
Other 3.6% 2.4% -1.2% -83,144
Immigration
Immigrant 4.9% 3.2% -1.7% -304,163
Native Born 3.1% 1.8% -1.3% -788,846
Age
60–69 4.3% 2.7% -1.5% -406,160
70–79 3.7% 2.2% -1.5% -448,588
80–89 2.5% 1.5% -1.0% -198,761
90+ 1.9% 1.1% -0.7% -39,499
Marital Status
Never Married 9.1% 6.1% -3.0% -272,233
Married 1.5% 0.9% -0.6% -253,582
Divorced 5.0% 3.0% -2.0% -315,574
Widowed 3.7% 2.1% -1.5% -251,619
Education
Graduate 0.8% 0.7% -0.2% -16,612
Bachelor 1.2% 0.7% -0.5% -88,526
Associate 2.9% 1.5% -1.3% -263,470
High School 4.7% 2.8% -1.8% -504,078
Less than 12 Yrs 10.3% 7.0% -3.3% -220,321
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% 10.7% -6.8% -1,093,010
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% 10.7% -6.8% -1,093,010
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% -158,540
$0-$32,782 16.2% 10.5% -5.7% -925,397
Benefit Type
Retired Worker 3.1% 2.0% -1.1% -594,468
Spousal & Worker 0.9% 0.5% -0.4% -11,373
Spousal Only 7.9% 5.3% -2.6% -25,716
Survivor & Worker 1.6% 0.6% -1.0% -108,145
Survivor Only 10.4% 7.7% -2.7% -24,297
Retired Disabled 5.6% 3.1% -2.5% -184,387
Disabled Worker 8.2% 4.8% -3.4% -144,620
Claiming Age
62 or younger 5.4% 3.3% -2.1% -820,230
63–66 1.6% 0.9% -0.7% -238,064
67 or older 2.0% 1.4% -0.6% -34,714
Quarters of Coverage
201+ 0.0% 0.0% 0.0% -1,903
161–200 0.5% 0.1% -0.4% -103,559
81–160 3.7% 1.8% -1.9% -569,135
0–80 16.0% 11.7% -4.3% -418,412
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% -385,497
$0-$2,356 14.1% 9.9% -4.2% -675,084
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% -176,756
$0-$3,307 15.9% 10.4% -5.5% -898,399
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% 10.6% -6.6% -1,063,920
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% -0.6% -76,449
$0.00 9.5% 5.7% -3.8% -1,008,830
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 11/27/2012
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: 11/27/2012
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: 11/27/2012
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.