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Benefit Formula Changes

Reduce the 90%, 32%, and 15% PIA factors to 90%, 21%, and 10% over a 31-year period

Projected effects on beneficiaries in 2070

Compare all options »

Table 1. Individual benefits 2070: PIA Factors to 90 21 10 versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total -17% 95% 0%
Sex
Female -16% 93% 0%
Male -19% 96% 0%
Race/Ethnicity
Hispanic -15% 92% 0%
White -19% 96% 0%
Black -16% 93% 0%
Other -18% 94% 0%
Immigration
Immigrant -16% 91% 0%
Native Born -18% 96% 0%
Age
60–69 -16% 92% 0%
70–79 -18% 95% 0%
80–89 -19% 96% 0%
90+ -17% 98% 0%
Marital Status
Never Married -15% 90% 0%
Married -18% 96% 0%
Divorced -18% 94% 0%
Widowed -18% 96% 0%
Education
Graduate -21% 97% 0%
Bachelor -21% 97% 0%
Associate -17% 96% 0%
High School -16% 93% 0%
Less than 12 Yrs -12% 85% 0%
Indiv. Income Quintile
$141,869+ -22% 99% 0%
$76,273 - $141,869 -20% 99% 0%
$47,225 - $76,273 -18% 98% 0%
$28,018 - $47,225 -16% 96% 0%
$0-$28,018 -8% 80% 0%
Hhld. Income Quintile
$234,849+ -22% 99% 0%
$125,659 - $234,849 -20% 98% 0%
$74,813 - $125,659 -18% 97% 0%
$41,558 - $74,813 -16% 96% 0%
$0-$41,558 -10% 83% 0%
Shared Earn. Quintile
$129,152+ -23% 100% 0%
$89,585 - $129,152 -21% 99% 0%
$63,685 - $89,585 -18% 99% 0%
$39,226 - $63,685 -14% 99% 0%
$0-$39,226 -6% 76% 0%
Benefit Type
Retired Worker -18% 94% 0%
Spousal & Worker -20% 99% 0%
Spousal Only -15% 87% 1%
Survivor & Worker -18% 99% 0%
Survivor Only -14% 85% 0%
Retired Disabled -15% 93% 0%
Disabled Worker -13% 89% 0%
Claiming Age
62 or younger -16% 93% 0%
63–66 -19% 97% 0%
67 or older -19% 92% 0%
Quarters of Coverage
201+ -22% 100% 0%
161–200 -19% 100% 0%
81–160 -14% 95% 0%
0–80 -7% 70% 0%
Own AIME Quintile
$11,030+ -23% 100% 0%
$7,326 - $11,030 -20% 100% 0%
$5,076 - $7,326 -16% 100% 0%
$2,910 - $5,076 -12% 100% 0%
$0-$2,910 -5% 73% 0%
Paying AIME Quintile
$12,519+ -23% 100% 0%
$8,545 - $12,519 -21% 100% 0%
$6,145 - $8,545 -18% 100% 0%
$3,923 - $6,145 -14% 100% 0%
$0-$3,923 -5% 73% 0%
Hhld. Benefit Quintile
$4,389+ -22% 100% 0%
$3,216 - $4,389 -20% 100% 0%
$2,435 - $3,216 -19% 99% 0%
$1,690 - $2,435 -16% 97% 0%
$0-$1,690 -7% 77% 0%
Adj. Gross Income
$181,671+ -22% 99% 0%
$123,969 - $181,671 -20% 99% 0%
$82,014 - $123,969 -19% 98% 0%
$1 - $82,014 -15% 91% 0%
$0.00 -14% 90% 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 2070: PIA Factors to 90 21 10 versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 6% 9% 77%
Sex
Female 8% 7% 82%
Male 5% 12% 71%
Race/Ethnicity
Hispanic 9% 5% 87%
White 5% 11% 73%
Black 9% 6% 83%
Other 6% 11% 73%
Immigration
Immigrant 9% 8% 81%
Native Born 6% 9% 76%
Age
60–69 8% 10% 78%
70–79 6% 9% 77%
80–89 5% 10% 73%
90+ 7% 4% 88%
Marital Status
Never Married 9% 5% 85%
Married 6% 11% 75%
Divorced 6% 9% 75%
Widowed 6% 6% 80%
Education
Graduate 2% 21% 58%
Bachelor 2% 17% 62%
Associate 6% 5% 81%
High School 9% 4% 87%
Less than 12 Yrs 13% 2% 93%
Indiv. Income Quintile
$141,869+ 0% 28% 45%
$76,273 - $141,869 2% 12% 65%
$47,225 - $76,273 5% 4% 81%
$28,018 - $47,225 9% 1% 95%
$0-$28,018 19% 0% 99%
Hhld. Income Quintile
$234,849+ 0% 27% 49%
$125,659 - $234,849 3% 12% 66%
$74,813 - $125,659 5% 5% 80%
$41,558 - $74,813 8% 1% 92%
$0-$41,558 16% 0% 99%
Shared Earn. Quintile
$129,152+ 0% 34% 29%
$89,585 - $129,152 2% 6% 70%
$63,685 - $89,585 6% 3% 90%
$39,226 - $63,685 11% 1% 97%
$0-$39,226 22% 0% 99%
Benefit Type
Retired Worker 6% 10% 75%
Spousal & Worker 3% 20% 65%
Spousal Only 9% 8% 81%
Survivor & Worker 5% 8% 76%
Survivor Only 10% 8% 87%
Retired Disabled 10% 3% 89%
Disabled Worker 12% 2% 92%
Claiming Age
62 or younger 8% 5% 83%
63–66 4% 12% 71%
67 or older 4% 16% 68%
Quarters of Coverage
201+ 1% 22% 54%
161–200 4% 10% 72%
81–160 10% 4% 87%
0–80 20% 5% 91%
Own AIME Quintile
$11,030+ 0% 32% 12%
$7,326 - $11,030 3% 4% 94%
$5,076 - $7,326 8% 3% 95%
$2,910 - $5,076 14% 3% 94%
$0-$2,910 23% 5% 90%
Paying AIME Quintile
$12,519+ 0% 38% 15%
$8,545 - $12,519 1% 4% 75%
$6,145 - $8,545 6% 2% 97%
$3,923 - $6,145 11% 1% 98%
$0-$3,923 23% 0% 100%
Hhld. Benefit Quintile
$4,389+ 0% 23% 49%
$3,216 - $4,389 3% 12% 67%
$2,435 - $3,216 4% 4% 77%
$1,690 - $2,435 8% 2% 96%
$0-$1,690 20% 4% 96%
Adj. Gross Income
$181,671+ 0% 28% 48%
$123,969 - $181,671 3% 13% 66%
$82,014 - $123,969 4% 8% 75%
$1 - $82,014 9% 3% 88%
$0.00 11% 1% 93%
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 2070: PIA Factors to 90 21 10 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 39% 43% 13% 5% 0% 0% 0%
Sex
Female 32% 45% 16% 7% 0% 0% 0%
Male 46% 40% 10% 4% 0% 0% 0%
Race/Ethnicity
Hispanic 25% 48% 19% 8% 0% 0% 0%
White 45% 41% 10% 4% 0% 0% 0%
Black 31% 44% 17% 7% 0% 0% 0%
Other 42% 39% 12% 6% 0% 0% 0%
Immigration
Immigrant 32% 42% 18% 9% 0% 0% 0%
Native Born 41% 43% 12% 4% 0% 0% 0%
Age
60–69 34% 42% 16% 8% 0% 0% 0%
70–79 40% 42% 13% 5% 0% 0% 0%
80–89 45% 41% 10% 4% 0% 0% 0%
90+ 30% 57% 12% 2% 0% 0% 0%
Marital Status
Never Married 28% 44% 18% 10% 0% 0% 0%
Married 41% 42% 12% 4% 0% 0% 0%
Divorced 40% 42% 12% 6% 0% 0% 0%
Widowed 38% 45% 12% 4% 0% 0% 0%
Education
Graduate 60% 31% 6% 3% 0% 0% 0%
Bachelor 56% 34% 7% 3% 0% 0% 0%
Associate 36% 48% 13% 4% 0% 0% 0%
High School 27% 49% 17% 7% 0% 0% 0%
Less than 12 Yrs 16% 44% 25% 15% 0% 0% 0%
Indiv. Income Quintile
$141,869+ 74% 23% 2% 1% 0% 0% 0%
$76,273 - $141,869 57% 37% 4% 1% 0% 0% 0%
$47,225 - $76,273 41% 48% 9% 2% 0% 0% 0%
$28,018 - $47,225 19% 65% 13% 4% 0% 0% 0%
$0-$28,018 2% 40% 38% 19% 0% 0% 0%
Hhld. Income Quintile
$234,849+ 69% 26% 4% 1% 0% 0% 0%
$125,659 - $234,849 55% 37% 6% 2% 0% 0% 0%
$74,813 - $125,659 41% 47% 10% 3% 0% 0% 0%
$41,558 - $74,813 24% 57% 15% 4% 0% 0% 0%
$0-$41,558 5% 46% 32% 17% 0% 0% 0%
Shared Earn. Quintile
$129,152+ 86% 13% 1% 0% 0% 0% 0%
$89,585 - $129,152 66% 32% 1% 1% 0% 0% 0%
$63,685 - $89,585 30% 66% 4% 1% 0% 0% 0%
$39,226 - $63,685 9% 76% 14% 1% 0% 0% 0%
$0-$39,226 2% 27% 47% 24% 0% 0% 0%
Benefit Type
Retired Worker 41% 41% 12% 6% 0% 0% 0%
Spousal & Worker 54% 37% 9% 1% 0% 0% 0%
Spousal Only 30% 38% 19% 12% 0% 0% 1%
Survivor & Worker 42% 49% 8% 1% 0% 0% 0%
Survivor Only 24% 42% 18% 15% 0% 0% 0%
Retired Disabled 23% 49% 21% 7% 0% 0% 0%
Disabled Worker 16% 48% 25% 11% 0% 0% 0%
Claiming Age
62 or younger 31% 45% 17% 7% 0% 0% 0%
63–66 46% 41% 9% 3% 0% 0% 0%
67 or older 47% 33% 11% 8% 0% 0% 0%
Quarters of Coverage
201+ 69% 30% 1% 0% 0% 0% 0%
161–200 48% 48% 4% 0% 0% 0% 0%
81–160 24% 48% 23% 5% 0% 0% 0%
0–80 15% 27% 27% 30% 0% 0% 0%
Own AIME Quintile
$11,030+ 96% 3% 0% 0% 0% 0% 0%
$7,326 - $11,030 63% 37% 0% 0% 0% 0% 0%
$5,076 - $7,326 8% 91% 1% 0% 0% 0% 0%
$2,910 - $5,076 9% 64% 26% 0% 0% 0% 0%
$0-$2,910 16% 19% 38% 27% 0% 0% 0%
Paying AIME Quintile
$12,519+ 92% 8% 0% 0% 0% 0% 0%
$8,545 - $12,519 89% 11% 1% 0% 0% 0% 0%
$6,145 - $8,545 9% 89% 1% 0% 0% 0% 0%
$3,923 - $6,145 2% 95% 3% 0% 0% 0% 0%
$0-$3,923 1% 11% 61% 27% 0% 0% 0%
Hhld. Benefit Quintile
$4,389+ 73% 27% 1% 0% 0% 0% 0%
$3,216 - $4,389 53% 40% 6% 0% 0% 0% 0%
$2,435 - $3,216 48% 41% 9% 1% 0% 0% 0%
$1,690 - $2,435 14% 72% 11% 2% 0% 0% 0%
$0-$1,690 5% 33% 39% 23% 0% 0% 0%
Adj. Gross Income
$181,671+ 70% 26% 3% 1% 0% 0% 0%
$123,969 - $181,671 56% 37% 6% 1% 0% 0% 0%
$82,014 - $123,969 45% 44% 8% 2% 0% 0% 0%
$1 - $82,014 25% 49% 16% 9% 0% 0% 0%
$0.00 17% 50% 23% 10% 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 2070: PIA Factors to 90 21 10 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 1% 1% 8% 14% 40% 23% 14%
Sex
Female 1% 0% 6% 11% 39% 26% 18%
Male 1% 1% 10% 17% 41% 20% 11%
Race/Ethnicity
Hispanic 1% 0% 4% 8% 38% 28% 21%
White 1% 1% 9% 16% 42% 20% 11%
Black 1% 0% 5% 11% 36% 28% 19%
Other 1% 1% 10% 16% 36% 22% 15%
Immigration
Immigrant 1% 0% 7% 11% 35% 25% 22%
Native Born 1% 1% 8% 15% 41% 22% 12%
Age
60–69 2% 2% 6% 12% 34% 25% 19%
70–79 0% 0% 9% 15% 41% 22% 14%
80–89 0% 0% 10% 17% 42% 20% 10%
90+ 0% 0% 4% 8% 50% 29% 9%
Marital Status
Never Married 1% 1% 4% 10% 36% 27% 23%
Married 1% 1% 9% 14% 39% 22% 13%
Divorced 1% 1% 8% 15% 40% 22% 14%
Widowed 0% 0% 6% 14% 45% 23% 12%
Education
Graduate 1% 1% 18% 21% 38% 13% 6%
Bachelor 1% 1% 15% 21% 40% 15% 7%
Associate 1% 1% 4% 14% 44% 25% 12%
High School 1% 0% 3% 9% 40% 28% 18%
Less than 12 Yrs 1% 0% 1% 5% 31% 30% 32%
Indiv. Income Quintile
$141,869+ 2% 1% 25% 27% 35% 8% 2%
$76,273 - $141,869 2% 1% 9% 23% 47% 14% 4%
$47,225 - $76,273 0% 0% 4% 14% 53% 21% 8%
$28,018 - $47,225 0% 0% 1% 4% 50% 33% 12%
$0-$28,018 0% 0% 0% 0% 13% 39% 47%
Hhld. Income Quintile
$234,849+ 2% 1% 24% 24% 35% 10% 4%
$125,659 - $234,849 1% 1% 9% 22% 45% 16% 6%
$74,813 - $125,659 1% 0% 4% 15% 49% 22% 9%
$41,558 - $74,813 0% 0% 1% 7% 47% 30% 14%
$0-$41,558 0% 0% 0% 1% 22% 37% 40%
Shared Earn. Quintile
$129,152+ 2% 1% 31% 37% 25% 3% 1%
$89,585 - $129,152 1% 1% 4% 24% 61% 8% 1%
$63,685 - $89,585 1% 0% 2% 6% 68% 20% 2%
$39,226 - $63,685 0% 0% 1% 1% 37% 51% 9%
$0-$39,226 0% 0% 0% 1% 7% 33% 59%
Benefit Type
Retired Worker 1% 1% 8% 15% 40% 21% 14%
Spousal & Worker 1% 1% 18% 15% 40% 19% 6%
Spousal Only 3% 0% 5% 11% 31% 24% 26%
Survivor & Worker 0% 0% 7% 16% 46% 24% 6%
Survivor Only 4% 0% 4% 5% 33% 24% 29%
Retired Disabled 0% 0% 3% 8% 38% 29% 22%
Disabled Worker 0% 0% 2% 6% 31% 32% 29%
Claiming Age
62 or younger 0% 0% 5% 11% 38% 27% 19%
63–66 1% 1% 10% 17% 43% 20% 9%
67 or older 1% 0% 16% 15% 34% 17% 17%
Quarters of Coverage
201+ 2% 1% 18% 24% 46% 8% 0%
161–200 1% 1% 8% 18% 50% 20% 2%
81–160 0% 0% 4% 9% 34% 33% 20%
0–80 1% 0% 4% 5% 18% 20% 52%
Own AIME Quintile
$11,030+ 2% 1% 29% 57% 11% 1% 0%
$7,326 - $11,030 1% 1% 2% 3% 92% 2% 0%
$5,076 - $7,326 1% 0% 2% 2% 68% 27% 0%
$2,910 - $5,076 0% 0% 2% 3% 11% 74% 9%
$0-$2,910 1% 0% 4% 5% 16% 11% 63%
Paying AIME Quintile
$12,519+ 2% 1% 35% 48% 13% 2% 0%
$8,545 - $12,519 1% 1% 2% 21% 71% 4% 0%
$6,145 - $8,545 1% 0% 1% 0% 92% 5% 1%
$3,923 - $6,145 0% 0% 1% 0% 22% 75% 1%
$0-$3,923 0% 0% 0% 0% 0% 30% 70%
Hhld. Benefit Quintile
$4,389+ 0% 0% 22% 28% 41% 7% 0%
$3,216 - $4,389 1% 0% 11% 21% 45% 18% 4%
$2,435 - $3,216 0% 0% 4% 19% 52% 18% 7%
$1,690 - $2,435 1% 1% 1% 1% 53% 33% 10%
$0-$1,690 2% 1% 1% 0% 6% 38% 52%
Adj. Gross Income
$181,671+ 2% 1% 24% 25% 36% 9% 3%
$123,969 - $181,671 1% 1% 11% 22% 45% 16% 5%
$82,014 - $123,969 1% 1% 6% 17% 48% 20% 7%
$1 - $82,014 0% 0% 3% 8% 40% 28% 20%
$0.00 0% 0% 1% 6% 35% 33% 26%
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 2070: PIA Factors to 90 21 10 versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.2% 1.2% 0.0% 37,143
Sex
Female 1.6% 1.6% 0.0% 22,571
Male 0.7% 0.7% 0.0% 14,572
Race/Ethnicity
Hispanic 1.7% 1.8% 0.1% 12,690
White 0.8% 0.8% 0.0% 20,210
Black 2.2% 2.2% 0.0% 3,243
Other 1.2% 1.2% 0.0% 998
Immigration
Immigrant 1.5% 1.6% 0.0% 4,952
Native Born 1.1% 1.1% 0.0% 32,191
Age
60–69 1.5% 1.5% 0.0% 4,109
70–79 1.1% 1.2% 0.0% 16,336
80–89 0.9% 1.0% 0.1% 15,028
90+ 0.7% 0.7% 0.0% 1,669
Marital Status
Never Married 3.4% 3.5% 0.1% 15,447
Married 0.4% 0.4% 0.0% 2,743
Divorced 1.5% 1.6% 0.1% 14,032
Widowed 1.2% 1.3% 0.0% 4,920
Education
Graduate 0.2% 0.3% 0.0% 2,617
Bachelor 0.4% 0.4% 0.0% 998
Associate 0.6% 0.7% 0.0% 10,226
High School 1.7% 1.8% 0.1% 16,966
Less than 12 Yrs 3.6% 3.7% 0.1% 6,334
Indiv. Income Quintile
$141,869+ 0.0% 0.0% 0.0% 0
$76,273 - $141,869 0.0% 0.0% 0.0% 0
$47,225 - $76,273 0.0% 0.0% 0.0% 0
$28,018 - $47,225 0.0% 0.0% 0.0% 0
$0-$28,018 5.9% 6.1% 0.2% 37,143
Hhld. Income Quintile
$234,849+ 0.0% 0.0% 0.0% 0
$125,659 - $234,849 0.0% 0.0% 0.0% 0
$74,813 - $125,659 0.0% 0.0% 0.0% 0
$41,558 - $74,813 0.0% 0.0% 0.0% 0
$0-$41,558 5.9% 6.1% 0.2% 37,143
Shared Earn. Quintile
$129,152+ 0.0% 0.0% 0.0% 0
$89,585 - $129,152 0.0% 0.0% 0.0% 0
$63,685 - $89,585 0.0% 0.0% 0.0% 0
$39,226 - $63,685 0.1% 0.1% 0.0% 6,583
$0-$39,226 5.8% 5.9% 0.2% 30,559
Benefit Type
Retired Worker 1.1% 1.1% 0.0% 20,100
Spousal & Worker 0.1% 0.3% 0.2% 6,318
Spousal Only 2.4% 2.5% 0.1% 998
Survivor & Worker 0.3% 0.3% 0.0% 0
Survivor Only 5.0% 5.0% 0.0% 0
Retired Disabled 2.0% 2.0% 0.1% 7,452
Disabled Worker 2.3% 2.4% 0.0% 2,273
Claiming Age
62 or younger 1.8% 1.9% 0.1% 31,211
63–66 0.5% 0.5% 0.0% 4,934
67 or older 0.8% 0.8% 0.0% 998
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.0% 0.0% 0.0% 1,409
81–160 0.7% 0.7% 0.1% 22,704
0–80 7.8% 7.9% 0.1% 13,030
Own AIME Quintile
$11,030+ 0.0% 0.0% 0.0% 0
$7,326 - $11,030 0.0% 0.0% 0.0% 0
$5,076 - $7,326 0.0% 0.0% 0.0% 1,669
$2,910 - $5,076 0.0% 0.0% 0.0% 3,694
$0-$2,910 5.8% 6.0% 0.2% 31,780
Paying AIME Quintile
$12,519+ 0.0% 0.0% 0.0% 0
$8,545 - $12,519 0.0% 0.0% 0.0% 0
$6,145 - $8,545 0.0% 0.0% 0.0% 6,318
$3,923 - $6,145 0.0% 0.0% 0.0% 5,479
$0-$3,923 5.8% 6.0% 0.1% 25,346
Hhld. Benefit Quintile
$4,389+ 0.0% 0.0% 0.0% 0
$3,216 - $4,389 0.0% 0.0% 0.0% 0
$2,435 - $3,216 0.0% 0.0% 0.0% 0
$1,690 - $2,435 0.0% 0.0% 0.0% 0
$0-$1,690 5.9% 6.1% 0.2% 37,143
Adj. Gross Income
$181,671+ 0.0% 0.0% 0.0% 0
$123,969 - $181,671 0.0% 0.0% 0.0% 0
$82,014 - $123,969 0.0% 0.0% 0.0% 0
$1 - $82,014 1.0% 1.0% 0.0% 469
$0.00 3.0% 3.2% 0.1% 36,674
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 2070: PIA Factors to 90 21 10 versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 2.3% 1.2% -1.1% -1,027,456
Sex
Female 3.0% 1.6% -1.4% -693,132
Male 1.5% 0.7% -0.8% -334,323
Race/Ethnicity
Hispanic 3.3% 1.8% -1.5% -309,717
White 1.5% 0.8% -0.7% -392,940
Black 4.6% 2.2% -2.3% -231,863
Other 2.1% 1.2% -0.9% -92,934
Immigration
Immigrant 3.0% 1.6% -1.4% -309,377
Native Born 2.1% 1.1% -1.0% -718,078
Age
60–69 2.9% 1.5% -1.3% -380,833
70–79 2.3% 1.2% -1.1% -391,773
80–89 1.9% 1.0% -0.9% -211,405
90+ 1.4% 0.7% -0.7% -43,443
Marital Status
Never Married 6.2% 3.5% -2.7% -367,682
Married 0.8% 0.4% -0.4% -207,876
Divorced 3.3% 1.6% -1.7% -324,707
Widowed 2.2% 1.3% -0.9% -127,190
Education
Graduate 0.7% 0.3% -0.5% -51,016
Bachelor 0.7% 0.4% -0.3% -70,030
Associate 1.7% 0.7% -1.0% -222,304
High School 3.3% 1.8% -1.5% -467,855
Less than 12 Yrs 6.1% 3.7% -2.4% -216,247
Indiv. Income Quintile
$141,869+ 0.0% 0.0% 0.0% 0
$76,273 - $141,869 0.0% 0.0% 0.0% 0
$47,225 - $76,273 0.0% 0.0% 0.0% 0
$28,018 - $47,225 0.0% 0.0% 0.0% 0
$0-$28,018 11.6% 6.1% -5.5% -1,027,456
Hhld. Income Quintile
$234,849+ 0.0% 0.0% 0.0% 0
$125,659 - $234,849 0.0% 0.0% 0.0% 0
$74,813 - $125,659 0.0% 0.0% 0.0% 0
$41,558 - $74,813 0.0% 0.0% 0.0% 0
$0-$41,558 11.6% 6.1% -5.5% -1,027,456
Shared Earn. Quintile
$129,152+ 0.0% 0.0% 0.0% -2,661
$89,585 - $129,152 0.0% 0.0% 0.0% 0
$63,685 - $89,585 0.0% 0.0% 0.0% 0
$39,226 - $63,685 0.2% 0.1% -0.1% -25,832
$0-$39,226 11.2% 5.9% -5.3% -998,961
Benefit Type
Retired Worker 2.2% 1.1% -1.0% -673,988
Spousal & Worker 0.5% 0.3% -0.2% -5,753
Spousal Only 4.0% 2.5% -1.5% -18,955
Survivor & Worker 0.8% 0.3% -0.5% -48,280
Survivor Only 6.5% 5.0% -1.5% -11,921
Retired Disabled 3.7% 2.0% -1.7% -146,731
Disabled Worker 4.9% 2.4% -2.5% -121,825
Claiming Age
62 or younger 3.5% 1.9% -1.6% -744,973
63–66 1.1% 0.5% -0.6% -235,365
67 or older 1.6% 0.8% -0.8% -47,116
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.1% 0.0% -0.1% -23,457
81–160 2.1% 0.7% -1.3% -482,344
0–80 12.5% 7.9% -4.6% -521,653
Own AIME Quintile
$11,030+ 0.0% 0.0% 0.0% 0
$7,326 - $11,030 0.0% 0.0% 0.0% 0
$5,076 - $7,326 0.0% 0.0% 0.0% 0
$2,910 - $5,076 0.6% 0.0% -0.6% -105,580
$0-$2,910 10.9% 6.0% -4.9% -921,875
Paying AIME Quintile
$12,519+ 0.0% 0.0% 0.0% 0
$8,545 - $12,519 0.0% 0.0% 0.0% 0
$6,145 - $8,545 0.1% 0.0% 0.0% -4,157
$3,923 - $6,145 0.1% 0.0% -0.1% -15,461
$0-$3,923 11.3% 6.0% -5.3% -1,007,837
Hhld. Benefit Quintile
$4,389+ 0.0% 0.0% 0.0% 0
$3,216 - $4,389 0.0% 0.0% 0.0% 0
$2,435 - $3,216 0.0% 0.0% 0.0% 0
$1,690 - $2,435 0.0% 0.0% 0.0% 0
$0-$1,690 11.5% 6.1% -5.4% -1,027,456
Adj. Gross Income
$181,671+ 0.0% 0.0% 0.0% 0
$123,969 - $181,671 0.0% 0.0% 0.0% 0
$82,014 - $123,969 0.0% 0.0% 0.0% 0
$1 - $82,014 1.7% 1.0% -0.7% -114,063
$0.00 6.1% 3.2% -2.9% -913,392
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, 2070
Characteristic Wage-Adjusted (2012 $) Inflation-Adjusted (2012 $) Nominal
(2070 $)
Total $1,016 $2,062 $9,821
Sex
Female $920 $1,867 $8,892
Male $1,131 $2,295 $10,929
Race/Ethnicity
Hispanic $879 $1,784 $8,495
White $1,084 $2,200 $10,478
Black $945 $1,917 $9,129
Other $1,051 $2,132 $10,156
Immigration
Immigrant $907 $1,840 $8,765
Native Born $1,046 $2,122 $10,105
Age
60–69 $966 $1,960 $9,337
70–79 $1,031 $2,093 $9,967
80–89 $1,033 $2,095 $9,979
90+ $1,076 $2,184 $10,401
Marital Status
Never Married $927 $1,881 $8,961
Married $991 $2,010 $9,575
Divorced $1,067 $2,165 $10,312
Widowed $1,121 $2,276 $10,838
Education
Graduate $1,297 $2,632 $12,534
Bachelor $1,231 $2,498 $11,897
Associate $1,000 $2,030 $9,669
High School $907 $1,841 $8,768
Less than 12 Yrs $759 $1,541 $7,339
Indiv. Income Quintile
$141,869+ $1,435 $2,911 $13,865
$76,273 - $141,869 $1,237 $2,510 $11,954
$47,225 - $76,273 $1,090 $2,211 $10,532
$28,018 - $47,225 $942 $1,912 $9,105
$0-$28,018 $625 $1,268 $6,039
Hhld. Income Quintile
$234,849+ $1,354 $2,747 $13,082
$125,659 - $234,849 $1,200 $2,435 $11,599
$74,813 - $125,659 $1,080 $2,192 $10,438
$41,558 - $74,813 $949 $1,926 $9,171
$0-$41,558 $699 $1,419 $6,757
Shared Earn. Quintile
$129,152+ $1,532 $3,109 $14,809
$89,585 - $129,152 $1,265 $2,568 $12,229
$63,685 - $89,585 $1,034 $2,098 $9,993
$39,226 - $63,685 $841 $1,707 $8,130
$0-$39,226 $588 $1,193 $5,682
Benefit Type
Retired Worker $1,032 $2,095 $9,978
Spousal & Worker $656 $1,331 $6,341
Spousal Only $440 $892 $4,251
Survivor & Worker $1,183 $2,400 $11,429
Survivor Only $850 $1,725 $8,217
Retired Disabled $1,010 $2,050 $9,765
Disabled Worker $1,001 $2,032 $9,678
Claiming Age
62 or younger $874 $1,773 $8,446
63–66 $1,154 $2,341 $11,148
67 or older $1,404 $2,849 $13,567
Quarters of Coverage
201+ $1,409 $2,858 $13,612
161–200 $1,167 $2,367 $11,274
81–160 $853 $1,731 $8,247
0–80 $555 $1,126 $5,361
Own AIME Quintile
$11,030+ $1,586 $3,218 $15,327
$7,326 - $11,030 $1,247 $2,531 $12,054
$5,076 - $7,326 $976 $1,979 $9,427
$2,910 - $5,076 $762 $1,545 $7,360
$0-$2,910 $551 $1,117 $5,320
Paying AIME Quintile
$12,519+ $1,590 $3,227 $15,370
$8,545 - $12,519 $1,317 $2,672 $12,728
$6,145 - $8,545 $1,052 $2,135 $10,168
$3,923 - $6,145 $831 $1,685 $8,027
$0-$3,923 $562 $1,141 $5,432
Hhld. Benefit Quintile
$4,389+ $1,390 $2,820 $13,429
$3,216 - $4,389 $1,179 $2,392 $11,392
$2,435 - $3,216 $1,285 $2,606 $12,414
$1,690 - $2,435 $976 $1,981 $9,434
$0-$1,690 $610 $1,237 $5,893
Adj. Gross Income
$181,671+ $1,354 $2,748 $13,087
$123,969 - $181,671 $1,202 $2,440 $11,619
$82,014 - $123,969 $1,112 $2,257 $10,749
$1 - $82,014 $897 $1,819 $8,665
$0.00 $833 $1,690 $8,050
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, 2070
Characteristic Wage-Adjusted (2012 $) Inflation-Adjusted (2012 $) Nominal
(2070 $)
Total $780 $1,584 $7,542
Sex
Female $707 $1,434 $6,829
Male $868 $1,762 $8,393
Race/Ethnicity
Hispanic $675 $1,370 $6,524
White $833 $1,690 $8,047
Black $725 $1,472 $7,011
Other $807 $1,638 $7,800
Immigration
Immigrant $697 $1,413 $6,732
Native Born $803 $1,629 $7,761
Age
60–69 $742 $1,506 $7,171
70–79 $792 $1,607 $7,654
80–89 $793 $1,609 $7,664
90+ $827 $1,677 $7,988
Marital Status
Never Married $712 $1,445 $6,882
Married $761 $1,544 $7,354
Divorced $819 $1,663 $7,919
Widowed $861 $1,748 $8,323
Education
Graduate $996 $2,021 $9,626
Bachelor $945 $1,918 $9,137
Associate $768 $1,559 $7,426
High School $697 $1,414 $6,734
Less than 12 Yrs $583 $1,183 $5,636
Indiv. Income Quintile
$141,869+ $1,102 $2,236 $10,649
$76,273 - $141,869 $950 $1,928 $9,181
$47,225 - $76,273 $837 $1,698 $8,089
$28,018 - $47,225 $724 $1,468 $6,993
$0-$28,018 $480 $974 $4,638
Hhld. Income Quintile
$234,849+ $1,040 $2,110 $10,047
$125,659 - $234,849 $922 $1,870 $8,908
$74,813 - $125,659 $830 $1,683 $8,017
$41,558 - $74,813 $729 $1,479 $7,043
$0-$41,558 $537 $1,090 $5,189
Shared Earn. Quintile
$129,152+ $1,177 $2,388 $11,373
$89,585 - $129,152 $972 $1,972 $9,392
$63,685 - $89,585 $794 $1,611 $7,675
$39,226 - $63,685 $646 $1,311 $6,244
$0-$39,226 $452 $916 $4,364
Benefit Type
Retired Worker $793 $1,609 $7,663
Spousal & Worker $504 $1,022 $4,870
Spousal Only $338 $685 $3,264
Survivor & Worker $908 $1,843 $8,777
Survivor Only $653 $1,325 $6,311
Retired Disabled $776 $1,575 $7,499
Disabled Worker $769 $1,561 $7,432
Claiming Age
62 or younger $671 $1,362 $6,487
63–66 $886 $1,798 $8,562
67 or older $1,078 $2,188 $10,420
Quarters of Coverage
201+ $1,082 $2,195 $10,454
161–200 $896 $1,818 $8,659
81–160 $655 $1,330 $6,333
0–80 $426 $865 $4,117
Own AIME Quintile
$11,030+ $1,218 $2,471 $11,771
$7,326 - $11,030 $958 $1,944 $9,258
$5,076 - $7,326 $749 $1,520 $7,240
$2,910 - $5,076 $585 $1,187 $5,653
$0-$2,910 $423 $858 $4,086
Paying AIME Quintile
$12,519+ $1,221 $2,478 $11,804
$8,545 - $12,519 $1,011 $2,052 $9,775
$6,145 - $8,545 $808 $1,640 $7,809
$3,923 - $6,145 $638 $1,294 $6,165
$0-$3,923 $432 $876 $4,172
Hhld. Benefit Quintile
$4,389+ $1,067 $2,165 $10,313
$3,216 - $4,389 $905 $1,837 $8,749
$2,435 - $3,216 $987 $2,002 $9,534
$1,690 - $2,435 $750 $1,521 $7,245
$0-$1,690 $468 $950 $4,526
Adj. Gross Income
$181,671+ $1,040 $2,110 $10,051
$123,969 - $181,671 $923 $1,874 $8,924
$82,014 - $123,969 $854 $1,733 $8,255
$1 - $82,014 $689 $1,397 $6,654
$0.00 $640 $1,298 $6,183
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.