Policy Option Projections

Below are our projections of the effects of various retirement policy proposals on Social Security beneficiaries. For each proposal, we also link to SSA's actuarial projections of the effects on the Social Security trust fund.

Compare all options »

  1. Cost of Living

  2. Coverage
  3. Family
  4. Individual
  5. Retirement

  6. Taxation
  7. Worker

Worker Benefit Changes

Details on the current benefit formula »

Proposal Start/end date(s) Proposed by Projected effects on…
Beneficiaries in… Trust funds
Credit earnings to caregivers' records:
Up to 5 years at one-half average wage when caring for children under age six
2015/NA NASI 2030 | 2050 | 2070 OACT B7.3
Eliminate the retirement earnings test:
For retired worker beneficiaries aged 62 or older and for survivor beneficiaries aged 60 or older
2016/NA Rubio 2030 | 2050 | 2070
Increase benefits for older beneficiaries:
PIA increase is phased-in starting at 81 and by 85 is equal to 5 percent of the average retired-worker PIA in the year the beneficiary turns 80
2016/NA Bipartisan Policy Center 2030 | 2050 | 2070 OACT B6.3
Increase the computation period from 35 years:
To 40 years (does not apply to DI)
2015/2023 SSAB 2030 | 2050 | 2070 OACT B4.2
Index PIA factors to longevity:
Multiply factors by the ratio of life expectancy at 67 in 2018 to the life expectancy at age 67 in the 4th year prior to the year of initial benefit eligibility
2023/NA Bipartisan Policy Center 2030 | 2050 | 2070 OACT B2.1
Price index the PIA formula:
Protect the bottom 30% of workers from price indexing
2020/NA SSAB 2030 | 2050 | 2070 OACT B1.2
Reconfigure the minimum benefit:
For workers with 10 to 30 years of coverage (YOC = 4 quarters earned that year) set PIA up to 125% of the monthly poverty level
2015/NA NASI 2030 | 2050 | 2070 OACT B5.2
Reduce the 90%, 32%, and 15% PIA factors:
To 90%, 21%, and 10% over a 31-year period
2015/NA SSAB 2030 | 2050 | 2070 OACT B3.1

NOTES: DI = disability insurance, NASI = National Academy of Social Insurance, OACT = Office of the Chief Actuary, PIA = primary insurance amount, SSAB = Social Security Advisory Board.

Because the timing of OACT updates to Trust Fund projections may not coincide with the timing of our updates, the specifications used to make these projections (e.g., years and amounts) may differ.