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| Actuarial Publications |
Summary of Provisions That Would Change the Social Security Program |
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Description of Proposed Provisions:
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Estimates based on the intermediate assumptions of the 2010 Trustees Report
| Change from present law | Results with this provision | |||||
|---|---|---|---|---|---|---|
| Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
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| Present Law, Alternative II. |
-1.92 | -4.12 | ||||
| A1 | Beginning in December 2011,
reduce the annual COLA by 1 percentage point. graph | table | pdf-graph | pdf-table | memo |
1.58 | 2.19 | -0.34 | -1.93 | |
| A2 | Beginning in December 2011,
reduce the annual COLA by 0.5 percentage point. graph | table | pdf-graph | pdf-table | memo |
0.82 | 1.15 | -1.10 | -2.97 | |
| A3 (2011) |
Starting with the December 2011 cost-of-living adjustment
(COLA), compute the COLA using a chained version of the
consumer price index for wage and salary workers (CPI-W).
This new computation is estimated to result in an annual
COLA that is 0.3 percentage point less, on average. graph | table | pdf-graph | pdf-table | memo (Social Security Advisory Board) | memo (Fiscal Commision) |
0.50 | 0.70 | -1.42 | -3.42 | |
| A3 (2012) |
Starting with the December 2012 cost-of-living adjustment (COLA),
compute the COLA using a chained version of the consumer price
index for wage and salary workers (CPI-W). This new computation
is estimated to result in an annual COLA that is 0.3 percentage
point less, on average. graph | table | pdf-graph | pdf-table | memo |
0.49 | 0.70 | -1.43 | -3.42 | |
| A4 |
Starting with the December 2013 cost-of-living adjustment
(COLA), compute the COLA using a chained version of the
consumer price index for wage and salary workers (CPI-W).
This new computation is estimated to result in an annual
COLA that is 0.3 percentage point less, on average. The
new COLA would not apply to DI benefits and would apply
for all OASI benefits, except for those who are converted
from disabled worker to retired worker status.
graph | table | pdf-graph | pdf-table | memo |
0.36 | 0.50 | -1.56 | -3.62 | |
| A5 |
Beginning December 2011, add 1 percentage point to the
annual cost-of-living adjustment for OASDI monthly benefits
for beneficiaries who have lived past a "specified age",
which reflects their age 65 life expectancy. The "specified age"
is based on the beneficiary's year of birth and is determined
as the sum of: (1) 65 and (2) the unisex cohort life expectancy
at age 65 for the Social Security area population with the same
year of birth as the beneficiary.
graph | table | pdf-graph | pdf-table | memo |
-0.08 | -0.11 | -2.00 | -4.23 | |
| A6 |
Starting with the December 2012 cost-of-living adjustment (COLA),
compute the COLA based on changes in the Consumer Price Index for
the Elderly (CPI-E). Use of this CPI series is estimated to result
in an annual COLA that is 0.2 percentage point higher, on average,
than using the consumer price index for urban wage and clerical
workers (CPI-W).
graph | table | pdf-graph | pdf-table | memo |
-0.34 | -0.49 | -2.26 | -4.61 | |
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