Social Security Retirement Benefits and Private Annuities: A Comparative Analysis

by Dale Kintzel
Issue Paper No. 2017-01 (released May 2017)
Table equivalent for Chart 1. Nominal monthly payments from a $100,000 SPIA purchased at age 65, by sex; and interest rate at purchase; various dates 2004–2015
Date Monthly payment ($) Interest rate (%)
Men Women
January 2004 666 612 5.54
July 2004 677 624 5.82
January 2005 653 600 5.36
July 2005 642 592 5.06
January 2006 656 610 5.29
July 2006 681 631 5.85
January 2007 679 626 5.32
July 2007 684 633 5.42
January 2008 688 638 5.33
July 2008 704 655 5.67
January 2009 713 663 5.05
July 2009 656 618 5.41
January 2010 631 591 5.26
July 2010 612 569 4.72
January 2011 601 563 5.04
July 2011 595 546 4.93
January 2012 561 522 3.85
July 2012 549 509 3.40
January 2013 528 490 3.80
July 2013 536 497 4.34
October 2013 571 531 4.53
January 2014 572 534 4.49
April 2014 561 524 4.24
October 2014 548 512 3.92
April 2015 534 499 3.52
SOURCE: Federal Reserve Bank of St. Louis (n.d.).
NOTES: The interest rate is the average AAA corporate bond yield obtained from Federal Reserve data.
Data for are for January and July 2004–2012; January, July, and October 2013; January, April, and October 2014; and April 2015.