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Cost of Living Adjustment Changes

Increase the Cost of Living Adjustment by basing it on the CPI-E

Projected effects on beneficiaries in 2050

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Table 1. Individual benefits 2050: CPI-E COLA versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 2% 0% 81%
Sex
Female 2% 0% 82%
Male 2% 0% 79%
Race/Ethnicity
Hispanic 2% 0% 77%
White 2% 0% 81%
Black 2% 0% 81%
Other 2% 0% 82%
Immigration
Immigrant 2% 0% 81%
Native Born 2% 0% 81%
Age
60–69 0% 0% 41%
70–79 2% 0% 99%
80–89 4% 0% 100%
90+ 6% 0% 100%
Marital Status
Never Married 2% 0% 75%
Married 1% 0% 75%
Divorced 2% 0% 80%
Widowed 4% 0% 97%
Education
Graduate 2% 0% 83%
Bachelor 2% 0% 82%
Associate 2% 0% 81%
High School 2% 0% 81%
Less than 12 Yrs 1% 0% 73%
Indiv. Income Quintile
$118,077+ 3% 0% 85%
$63,076 - $118,077 2% 0% 79%
$38,685 - $63,076 2% 0% 77%
$23,078 - $38,685 2% 0% 81%
$0-$23,078 2% 0% 82%
Hhld. Income Quintile
$191,900+ 2% 0% 81%
$102,458 - $191,900 2% 0% 77%
$60,945 - $102,458 2% 0% 80%
$33,624 - $60,945 2% 0% 82%
$0-$33,624 2% 0% 84%
Shared Earn. Quintile
$106,162+ 2% 0% 84%
$74,636 - $106,162 2% 0% 81%
$52,919 - $74,636 2% 0% 80%
$32,782 - $52,919 2% 0% 79%
$0-$32,782 2% 0% 79%
Benefit Type
Retired Worker 2% 0% 77%
Spousal & Worker 2% 0% 84%
Spousal Only 2% 0% 85%
Survivor & Worker 4% 0% 95%
Survivor Only 4% 0% 95%
Retired Disabled 3% 0% 98%
Disabled Worker 1% 0% 52%
Claiming Age
62 or younger 2% 0% 76%
63–66 2% 0% 83%
67 or older 3% 0% 98%
Quarters of Coverage
201+ 2% 0% 86%
161–200 2% 0% 79%
81–160 2% 0% 78%
0–80 3% 0% 86%
Own AIME Quintile
$8,955+ 2% 0% 83%
$5,945 - $8,955 2% 0% 80%
$4,095 - $5,945 2% 0% 80%
$2,356 - $4,095 2% 0% 80%
$0-$2,356 2% 0% 80%
Paying AIME Quintile
$10,370+ 3% 0% 87%
$7,219 - $10,370 2% 0% 83%
$5,128 - $7,219 2% 0% 81%
$3,307 - $5,128 2% 0% 78%
$0-$3,307 2% 0% 74%
Hhld. Benefit Quintile
$3,486+ 2% 0% 84%
$2,564 - $3,486 2% 0% 81%
$1,975 - $2,564 3% 0% 82%
$1,382 - $1,975 2% 0% 81%
$0-$1,382 2% 0% 75%
Adj. Gross Income
$146,400+ 2% 0% 80%
$99,794 - $146,400 2% 0% 79%
$66,090 - $99,794 2% 0% 80%
$1 - $66,090 2% 0% 79%
$0.00 2% 0% 83%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: CPI-E COLA versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 31% 0% 100%
Sex
Female 31% 0% 100%
Male 30% 0% 100%
Race/Ethnicity
Hispanic 30% 0% 100%
White 31% 0% 100%
Black 31% 0% 100%
Other 30% 0% 100%
Immigration
Immigrant 30% 0% 100%
Native Born 31% 0% 100%
Age
60–69 29% 0% 100%
70–79 31% 0% 100%
80–89 33% 0% 100%
90+ 35% 0% 100%
Marital Status
Never Married 30% 0% 100%
Married 30% 0% 100%
Divorced 31% 0% 100%
Widowed 33% 0% 100%
Education
Graduate 31% 0% 100%
Bachelor 31% 0% 100%
Associate 31% 0% 100%
High School 31% 0% 100%
Less than 12 Yrs 30% 0% 100%
Indiv. Income Quintile
$118,077+ 31% 0% 100%
$63,076 - $118,077 30% 0% 100%
$38,685 - $63,076 30% 0% 100%
$23,078 - $38,685 31% 0% 100%
$0-$23,078 31% 0% 100%
Hhld. Income Quintile
$191,900+ 31% 0% 100%
$102,458 - $191,900 30% 0% 100%
$60,945 - $102,458 30% 0% 100%
$33,624 - $60,945 31% 0% 100%
$0-$33,624 31% 0% 100%
Shared Earn. Quintile
$106,162+ 31% 0% 100%
$74,636 - $106,162 31% 0% 100%
$52,919 - $74,636 31% 0% 100%
$32,782 - $52,919 30% 0% 100%
$0-$32,782 30% 0% 100%
Benefit Type
Retired Worker 30% 0% 100%
Spousal & Worker 30% 0% 100%
Spousal Only 30% 0% 100%
Survivor & Worker 33% 0% 100%
Survivor Only 33% 0% 100%
Retired Disabled 32% 0% 100%
Disabled Worker 29% 0% 100%
Claiming Age
62 or younger 31% 0% 100%
63–66 31% 0% 100%
67 or older 31% 0% 100%
Quarters of Coverage
201+ 31% 0% 100%
161–200 30% 0% 100%
81–160 31% 0% 100%
0–80 31% 0% 100%
Own AIME Quintile
$8,955+ 31% 0% 100%
$5,945 - $8,955 31% 0% 100%
$4,095 - $5,945 31% 0% 100%
$2,356 - $4,095 31% 0% 100%
$0-$2,356 31% 0% 100%
Paying AIME Quintile
$10,370+ 32% 0% 100%
$7,219 - $10,370 31% 0% 100%
$5,128 - $7,219 31% 0% 100%
$3,307 - $5,128 30% 0% 100%
$0-$3,307 30% 0% 100%
Hhld. Benefit Quintile
$3,486+ 30% 0% 100%
$2,564 - $3,486 30% 0% 100%
$1,975 - $2,564 31% 0% 100%
$1,382 - $1,975 31% 0% 100%
$0-$1,382 31% 0% 100%
Adj. Gross Income
$146,400+ 30% 0% 100%
$99,794 - $146,400 30% 0% 100%
$66,090 - $99,794 31% 0% 100%
$1 - $66,090 31% 0% 100%
$0.00 31% 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: 03/05/2014
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: CPI-E COLA 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% 0% 19% 80% 0% 0%
Sex
Female 0% 0% 0% 18% 82% 0% 0%
Male 0% 0% 0% 21% 79% 0% 0%
Race/Ethnicity
Hispanic 0% 0% 0% 23% 77% 0% 0%
White 0% 0% 0% 19% 81% 0% 0%
Black 0% 0% 0% 19% 81% 0% 0%
Other 0% 0% 0% 18% 81% 0% 0%
Immigration
Immigrant 0% 0% 0% 19% 81% 0% 0%
Native Born 0% 0% 0% 19% 80% 0% 0%
Age
60–69 0% 0% 0% 59% 41% 0% 0%
70–79 0% 0% 0% 1% 99% 0% 0%
80–89 0% 0% 0% 0% 100% 0% 0%
90+ 0% 0% 0% 0% 99% 1% 0%
Marital Status
Never Married 0% 0% 0% 25% 75% 0% 0%
Married 0% 0% 0% 25% 75% 0% 0%
Divorced 0% 0% 0% 20% 80% 0% 0%
Widowed 0% 0% 0% 3% 97% 0% 0%
Education
Graduate 0% 0% 0% 17% 83% 0% 0%
Bachelor 0% 0% 0% 18% 81% 0% 0%
Associate 0% 0% 0% 19% 81% 0% 0%
High School 0% 0% 0% 19% 81% 0% 0%
Less than 12 Yrs 0% 0% 0% 27% 73% 0% 0%
Indiv. Income Quintile
$118,077+ 0% 0% 0% 15% 84% 0% 0%
$63,076 - $118,077 0% 0% 0% 21% 78% 0% 0%
$38,685 - $63,076 0% 0% 0% 23% 77% 0% 0%
$23,078 - $38,685 0% 0% 0% 19% 81% 0% 0%
$0-$23,078 0% 0% 0% 18% 82% 0% 0%
Hhld. Income Quintile
$191,900+ 0% 0% 0% 19% 81% 0% 0%
$102,458 - $191,900 0% 0% 0% 23% 77% 0% 0%
$60,945 - $102,458 0% 0% 0% 20% 80% 0% 0%
$33,624 - $60,945 0% 0% 0% 18% 82% 0% 0%
$0-$33,624 0% 0% 0% 16% 84% 0% 0%
Shared Earn. Quintile
$106,162+ 0% 0% 0% 16% 84% 0% 0%
$74,636 - $106,162 0% 0% 0% 19% 81% 0% 0%
$52,919 - $74,636 0% 0% 0% 20% 80% 0% 0%
$32,782 - $52,919 0% 0% 0% 21% 79% 0% 0%
$0-$32,782 0% 0% 0% 21% 79% 0% 0%
Benefit Type
Retired Worker 0% 0% 0% 23% 77% 0% 0%
Spousal & Worker 0% 0% 0% 16% 84% 0% 0%
Spousal Only 0% 0% 0% 15% 84% 0% 1%
Survivor & Worker 0% 0% 0% 5% 95% 0% 0%
Survivor Only 0% 0% 0% 5% 91% 3% 1%
Retired Disabled 0% 0% 0% 2% 98% 0% 0%
Disabled Worker 0% 0% 0% 48% 52% 0% 0%
Claiming Age
62 or younger 0% 0% 0% 24% 76% 0% 0%
63–66 0% 0% 0% 17% 82% 0% 0%
67 or older 0% 0% 0% 2% 98% 0% 0%
Quarters of Coverage
201+ 0% 0% 0% 14% 85% 0% 0%
161–200 0% 0% 0% 21% 79% 0% 0%
81–160 0% 0% 0% 22% 78% 0% 0%
0–80 0% 0% 0% 14% 86% 0% 0%
Own AIME Quintile
$8,955+ 0% 0% 0% 17% 83% 0% 0%
$5,945 - $8,955 0% 0% 0% 20% 80% 0% 0%
$4,095 - $5,945 0% 0% 0% 20% 80% 0% 0%
$2,356 - $4,095 0% 0% 0% 20% 80% 0% 0%
$0-$2,356 0% 0% 0% 20% 79% 0% 0%
Paying AIME Quintile
$10,370+ 0% 0% 0% 13% 86% 0% 0%
$7,219 - $10,370 0% 0% 0% 17% 83% 0% 0%
$5,128 - $7,219 0% 0% 0% 19% 81% 0% 0%
$3,307 - $5,128 0% 0% 0% 22% 78% 0% 0%
$0-$3,307 0% 0% 0% 26% 74% 0% 0%
Hhld. Benefit Quintile
$3,486+ 0% 0% 0% 16% 84% 0% 0%
$2,564 - $3,486 0% 0% 0% 19% 81% 0% 0%
$1,975 - $2,564 0% 0% 0% 18% 82% 0% 0%
$1,382 - $1,975 0% 0% 0% 19% 81% 0% 0%
$0-$1,382 0% 0% 0% 25% 74% 0% 0%
Adj. Gross Income
$146,400+ 0% 0% 0% 20% 79% 0% 0%
$99,794 - $146,400 0% 0% 0% 21% 79% 0% 0%
$66,090 - $99,794 0% 0% 0% 20% 80% 0% 0%
$1 - $66,090 0% 0% 0% 21% 79% 0% 0%
$0.00 0% 0% 0% 17% 83% 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: 03/05/2014
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: CPI-E COLA 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% 100%
Sex
Female 0% 0% 0% 0% 0% 0% 100%
Male 0% 0% 0% 0% 0% 0% 100%
Race/Ethnicity
Hispanic 0% 0% 0% 0% 0% 0% 100%
White 0% 0% 0% 0% 0% 0% 100%
Black 0% 0% 0% 0% 0% 0% 100%
Other 0% 0% 0% 0% 0% 0% 100%
Immigration
Immigrant 0% 0% 0% 0% 0% 0% 100%
Native Born 0% 0% 0% 0% 0% 0% 100%
Age
60–69 0% 0% 0% 0% 0% 0% 100%
70–79 0% 0% 0% 0% 0% 0% 100%
80–89 0% 0% 0% 0% 0% 0% 100%
90+ 0% 0% 0% 0% 0% 0% 100%
Marital Status
Never Married 0% 0% 0% 0% 0% 0% 100%
Married 0% 0% 0% 0% 0% 0% 100%
Divorced 0% 0% 0% 0% 0% 0% 100%
Widowed 0% 0% 0% 0% 0% 0% 100%
Education
Graduate 0% 0% 0% 0% 0% 0% 100%
Bachelor 0% 0% 0% 0% 0% 0% 100%
Associate 0% 0% 0% 0% 0% 0% 100%
High School 0% 0% 0% 0% 0% 0% 100%
Less than 12 Yrs 0% 0% 0% 0% 0% 0% 100%
Indiv. Income Quintile
$118,077+ 0% 0% 0% 0% 0% 0% 100%
$63,076 - $118,077 0% 0% 0% 0% 0% 0% 100%
$38,685 - $63,076 0% 0% 0% 0% 0% 0% 100%
$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% 0% 100%
$102,458 - $191,900 0% 0% 0% 0% 0% 0% 100%
$60,945 - $102,458 0% 0% 0% 0% 0% 0% 100%
$33,624 - $60,945 0% 0% 0% 0% 0% 0% 100%
$0-$33,624 0% 0% 0% 0% 0% 0% 100%
Shared Earn. Quintile
$106,162+ 0% 0% 0% 0% 0% 0% 100%
$74,636 - $106,162 0% 0% 0% 0% 0% 0% 100%
$52,919 - $74,636 0% 0% 0% 0% 0% 0% 100%
$32,782 - $52,919 0% 0% 0% 0% 0% 0% 100%
$0-$32,782 0% 0% 0% 0% 0% 0% 100%
Benefit Type
Retired Worker 0% 0% 0% 0% 0% 0% 100%
Spousal & Worker 0% 0% 0% 0% 0% 0% 100%
Spousal Only 0% 0% 0% 0% 0% 0% 100%
Survivor & Worker 0% 0% 0% 0% 0% 0% 100%
Survivor Only 0% 0% 0% 0% 0% 0% 100%
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% 100%
63–66 0% 0% 0% 0% 0% 0% 100%
67 or older 0% 0% 0% 0% 0% 0% 100%
Quarters of Coverage
201+ 0% 0% 0% 0% 0% 0% 100%
161–200 0% 0% 0% 0% 0% 0% 100%
81–160 0% 0% 0% 0% 0% 0% 100%
0–80 0% 0% 0% 0% 0% 0% 100%
Own AIME Quintile
$8,955+ 0% 0% 0% 0% 0% 0% 100%
$5,945 - $8,955 0% 0% 0% 0% 0% 0% 100%
$4,095 - $5,945 0% 0% 0% 0% 0% 0% 100%
$2,356 - $4,095 0% 0% 0% 0% 0% 0% 100%
$0-$2,356 0% 0% 0% 0% 0% 0% 100%
Paying AIME Quintile
$10,370+ 0% 0% 0% 0% 0% 0% 100%
$7,219 - $10,370 0% 0% 0% 0% 0% 0% 100%
$5,128 - $7,219 0% 0% 0% 0% 0% 0% 100%
$3,307 - $5,128 0% 0% 0% 0% 0% 0% 100%
$0-$3,307 0% 0% 0% 0% 0% 0% 100%
Hhld. Benefit Quintile
$3,486+ 0% 0% 0% 0% 0% 0% 100%
$2,564 - $3,486 0% 0% 0% 0% 0% 0% 100%
$1,975 - $2,564 0% 0% 0% 0% 0% 0% 100%
$1,382 - $1,975 0% 0% 0% 0% 0% 0% 100%
$0-$1,382 0% 0% 0% 0% 0% 0% 100%
Adj. Gross Income
$146,400+ 0% 0% 0% 0% 0% 0% 100%
$99,794 - $146,400 0% 0% 0% 0% 0% 0% 100%
$66,090 - $99,794 0% 0% 0% 0% 0% 0% 100%
$1 - $66,090 0% 0% 0% 0% 0% 0% 100%
$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: 03/05/2014
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: CPI-E COLA versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.9% 1.8% -0.1% -110,722
Sex
Female 2.4% 2.2% -0.2% -78,236
Male 1.3% 1.2% -0.1% -32,486
Race/Ethnicity
Hispanic 3.0% 2.7% -0.2% -30,756
White 1.2% 1.2% -0.1% -34,797
Black 3.9% 3.5% -0.4% -34,051
Other 2.2% 2.0% -0.2% -11,117
Immigration
Immigrant 2.9% 2.7% -0.2% -43,084
Native Born 1.6% 1.5% -0.1% -67,638
Age
60–69 2.4% 2.3% -0.1% -31,032
70–79 2.0% 1.8% -0.2% -48,061
80–89 1.4% 1.2% -0.1% -24,365
90+ 0.9% 0.8% -0.1% -7,262
Marital Status
Never Married 5.3% 5.0% -0.3% -29,831
Married 0.8% 0.7% 0.0% -15,986
Divorced 2.8% 2.6% -0.2% -28,999
Widowed 1.9% 1.7% -0.2% -35,904
Education
Graduate 0.6% 0.6% 0.0% 0
Bachelor 0.6% 0.6% 0.0% -6,415
Associate 1.3% 1.1% -0.2% -32,464
High School 2.6% 2.4% -0.2% -52,030
Less than 12 Yrs 6.3% 6.0% -0.3% -19,810
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% 8.9% -0.7% -110,722
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% 8.9% -0.7% -110,722
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% 0.1% -0.1% -9,653
$0-$32,782 9.4% 8.7% -0.6% -101,068
Benefit Type
Retired Worker 1.8% 1.7% -0.1% -45,134
Spousal & Worker 0.5% 0.4% -0.1% -3,097
Spousal Only 5.1% 4.9% -0.2% -1,636
Survivor & Worker 0.5% 0.5% 0.0% -3,317
Survivor Only 7.0% 6.4% -0.6% -5,743
Retired Disabled 2.7% 2.3% -0.4% -33,421
Disabled Worker 4.3% 3.9% -0.4% -18,370
Claiming Age
62 or younger 3.0% 2.7% -0.2% -97,183
63–66 0.8% 0.8% 0.0% -13,041
67 or older 1.3% 1.3% 0.0% -497
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.1% 0.1% 0.0% -2,471
81–160 1.4% 1.3% -0.2% -52,733
0–80 11.0% 10.5% -0.6% -55,516
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% -2,276
$2,356 - $4,095 0.5% 0.3% -0.2% -31,267
$0-$2,356 9.0% 8.5% -0.5% -77,178
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% -1,636
$5,128 - $7,219 0.0% 0.0% 0.0% -2,276
$3,307 - $5,128 0.2% 0.1% 0.0% -7,954
$0-$3,307 9.3% 8.7% -0.6% -98,853
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% -2,276
$0-$1,382 9.5% 8.8% -0.7% -108,445
Adj. Gross Income
$146,400+ 0.0% 0.0% 0.0% 0
$99,794 - $146,400 0.0% 0.0% 0.0% 0
$66,090 - $99,794 0.1% 0.1% 0.0% 0
$1 - $66,090 1.4% 1.3% -0.1% -12,306
$0.00 5.0% 4.7% -0.4% -98,415
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: CPI-E COLA versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 3.5% 1.8% -1.7% -1,385,477
Sex
Female 4.1% 2.2% -1.9% -839,355
Male 2.7% 1.2% -1.5% -546,122
Race/Ethnicity
Hispanic 5.2% 2.7% -2.4% -336,433
White 2.4% 1.2% -1.2% -633,759
Black 7.1% 3.5% -3.5% -305,673
Other 3.6% 2.0% -1.6% -109,611
Immigration
Immigrant 4.9% 2.7% -2.2% -408,204
Native Born 3.1% 1.5% -1.6% -977,273
Age
60–69 4.3% 2.3% -2.0% -515,611
70–79 3.7% 1.8% -1.9% -567,886
80–89 2.5% 1.2% -1.2% -243,313
90+ 1.9% 0.8% -1.1% -58,666
Marital Status
Never Married 9.1% 5.0% -4.1% -366,453
Married 1.5% 0.7% -0.8% -307,412
Divorced 5.0% 2.6% -2.5% -383,450
Widowed 3.7% 1.7% -2.0% -328,161
Education
Graduate 0.8% 0.6% -0.3% -25,518
Bachelor 1.2% 0.6% -0.6% -107,986
Associate 2.9% 1.1% -1.8% -345,593
High School 4.7% 2.4% -2.3% -622,134
Less than 12 Yrs 10.3% 6.0% -4.3% -284,243
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% 8.9% -8.6% -1,385,477
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% 8.9% -8.6% -1,385,477
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% 0.1% -1.1% -172,777
$0-$32,782 16.2% 8.7% -7.4% -1,203,628
Benefit Type
Retired Worker 3.1% 1.7% -1.4% -750,089
Spousal & Worker 0.9% 0.4% -0.5% -15,856
Spousal Only 7.9% 4.9% -3.0% -29,692
Survivor & Worker 1.6% 0.5% -1.1% -121,434
Survivor Only 10.4% 6.4% -4.0% -36,588
Retired Disabled 5.6% 2.3% -3.3% -247,604
Disabled Worker 8.2% 3.9% -4.4% -184,211
Claiming Age
62 or younger 5.4% 2.7% -2.7% -1,051,376
63–66 1.6% 0.8% -0.8% -294,136
67 or older 2.0% 1.3% -0.7% -39,964
Quarters of Coverage
201+ 0.0% 0.0% 0.0% -1,903
161–200 0.5% 0.1% -0.4% -109,187
81–160 3.7% 1.3% -2.5% -738,048
0–80 16.0% 10.5% -5.5% -536,339
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% -34,704
$2,356 - $4,095 3.1% 0.3% -2.8% -454,394
$0-$2,356 14.1% 8.5% -5.5% -896,378
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% -6,516
$5,128 - $7,219 0.1% 0.0% -0.1% -16,636
$3,307 - $5,128 1.3% 0.1% -1.2% -190,397
$0-$3,307 15.9% 8.7% -7.2% -1,171,926
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% -31,366
$0-$1,382 17.2% 8.8% -8.4% -1,354,111
Adj. Gross Income
$146,400+ 0.0% 0.0% 0.0% -2,300
$99,794 - $146,400 0.0% 0.0% 0.0% -618
$66,090 - $99,794 0.1% 0.1% 0.0% -5,429
$1 - $66,090 2.0% 1.3% -0.7% -99,414
$0.00 9.5% 4.7% -4.8% -1,277,714
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: 03/05/2014
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: 03/05/2014
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.