CATEGORY: WORKER BENEFIT CHANGES
PROPOSAL: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
Start date: 2016  End date: not applicable  Proposed by: Bipartisan Policy Center

Projected effects on beneficiaries in 2030

Table 1. Individual benefit changes, 2030: Older Beneficiaries Increase vs. Scheduled
POPULATION: current law beneficiaries aged 60+
Characteristic All Beneficiaries Affected Beneficiaries
Median Percent Change Percent With Median Percent Change Percent With
Lower Benefits Higher Benefits Lower Benefits Higher Benefits
Total 0% 0% 22% 0% 100%
Sex
Female 0% 0% 25% 0% 100%
Male 0% 0% 17% 0% 100%
Ethnicity/Race
Hispanic 0% 0% 13% 0% 100%
White 0% 0% 24% 0% 100%
Black 0% 0% 16% 0% 100%
Other 0% 0% 18% 0% 100%
Country of Birth
U.S. 0% 0% 23% 0% 100%
Foreign 0% 0% 15% 0% 100%
Age
60-69 0% 0% 0% 0% 100%
70-79 0% 0% 4% 0% 100%
80-89 0% 78% 0% 100%
90+ 0% 99% 0% 100%
Marital Status
Married 0% 0% 18% 0% 100%
Divorced 0% 0% 19% 0% 100%
Widowed 0% 0% 42% 0% 100%
Never Married 0% 0% 10% 0% 100%
Education
Graduate 0% 0% 27% 0% 100%
Bachelor 0% 0% 20% 0% 100%
Associate 0% 0% 19% 0% 100%
High School 0% 0% 22% 0% 100%
Less than 12 Yrs 0% 0% 18% 0% 100%
Official Poverty
Above poverty 0% 0% 22% 0% 100%
In poverty 0% 0% 17% 0% 100%
Household Income Quintile
$175,526+ 0% 0% 23% 0% 100%
$97,521 - $175,526 0% 0% 20% 0% 100%
$57,224 - $97,521 0% 0% 20% 0% 100%
$30,478 - $57,224 0% 0% 22% 0% 100%
$0-$30,478 0% 0% 22% 0% 100%
Current Law Benefit Type
Retired worker 0% 0% 17% 0% 100%
Widow(er) 0% 0% 42% 0% 100%
Spouse 0% 0% 27% 1% 99%
Disabled worker 0% 0% 0% . . . . . .
Source: SSA/Office of Retirement Policy, using MINT 7 Run: 03/09/2015 Ref #: RD0714v1
Note: . . . = not applicable.
Providing these estimates does not imply SSA support for the proposal, nor is SSA responsible for any interpretations of these estimates.
Table 2. Household income changes, 2030: Older Beneficiaries Increase vs. Scheduled
POPULATION: current law beneficiaries aged 60+
Characteristic All Beneficiaries Affected Beneficiaries
Median Percent Change Percent With Median Percent Change Percent With
Lower Income Higher Income Lower Income Higher Income
Total 0% 0% 12% 0% 52%
Sex
Female 0% 0% 15% 0% 57%
Male 0% 0% 8% 0% 0% 44%
Ethnicity/Race
Hispanic 0% 0% 8% 0% 61%
White 0% 0% 12% 0% 50%
Black 0% 0% 11% 0% 63%
Other 0% 0% 11% 0% 57%
Country of Birth
U.S. 0% 0% 12% 0% 52%
Foreign 0% 0% 9% 0% 55%
Age
60-69 0% 0% 0% 2% 57%
70-79 0% 0% 3% 0% 58%
80-89 0% 0% 40% 0% 50%
90+ 0% 56% 0% 56%
Marital Status
Married 0% 0% 8% 0% 0% 43%
Divorced 0% 0% 12% 0% 62%
Widowed 0% 0% 25% 0% 60%
Never Married 0% 0% 5% 0% 53%
Education
Graduate 0% 0% 8% 0% 0% 31%
Bachelor 0% 0% 9% 0% 0% 41%
Associate 0% 0% 11% 0% 52%
High School 0% 0% 15% 0% 62%
Less than 12 Yrs 0% 0% 13% 0% 66%
Official Poverty
Above poverty 0% 0% 12% 0% 51%
In poverty 0% 0% 14% 0% 79%
Household Income Quintile
$175,526+ 0% 0% 0% 0% 0% 0%
$97,521 - $175,526 0% 0% 4% 0% 0% 20%
$57,224 - $97,521 0% 0% 13% 0% 60%
$30,478 - $57,224 0% 0% 20% 0% 87%
$0-$30,478 0% 0% 21% 0% 94%
Current Law Benefit Type
Retired worker 0% 0% 9% 0% 0% 46%
Widow(er) 0% 0% 27% 0% 65%
Spouse 0% 0% 12% 0% 0% 44%
Disabled worker 0% 0% 0% . . . . . .
Source: SSA/Office of Retirement Policy, using MINT 7 Run: 03/09/2015 Ref #: RD0714v1
Note: . . . = not applicable.
Providing these estimates does not imply SSA support for the proposal, nor is SSA responsible for any interpretations of these estimates.
Table 3. Poverty, 2030: Older Beneficiaries Increase vs. Scheduled
POPULATION: current law beneficiaries aged 60+
Characteristic Poverty Rate Population Change (thousands)
Scheduled Option Change
Total 4.9% 4.8% -0.1% -86
Sex
Female 5.3% 5.2% -0.2% -70
Male 4.3% 4.3% 0.0% -16
Ethnicity/Race
Hispanic 8.8% 8.5% -0.3% -26
White 3.5% 3.4% -0.1% -51
Black 9.0% 8.9% -0.1% -5
Other 7.7% 7.6% -0.1% -3
Country of Birth
U.S. 4.2% 4.1% -0.1% -63
Foreign 8.8% 8.6% -0.2% -22
Age
60-69 5.7% 5.7% 0.0% 0
70-79 4.9% 4.9% -0.1% -17
80-89 3.8% 3.4% -0.4% -60
90+ 2.5% 2.2% -0.3% -8
Marital Status
Married 1.9% 1.8% 0.0% -18
Divorced 8.3% 8.0% -0.2% -30
Widowed 5.8% 5.6% -0.3% -33
Never Married 17.0% 16.9% -0.1% -4
Education
Graduate 1.4% 1.4% 0.0% 0
Bachelor 2.2% 2.1% -0.1% -11
Associate 3.6% 3.5% -0.1% -9
High School 6.1% 5.9% -0.2% -51
Less than 12 Yrs 13.9% 13.7% -0.2% -12
Official Poverty
Above poverty 0.0% 0.0% 0.0% 0
In poverty 100.0% 97.6% -2.4% -86
Household Income Quintile
$175,526+ 0.1% 0.1% 0.0% 0
$97,521 - $175,526 0.1% 0.1% 0.0% 0
$57,224 - $97,521 0.3% 0.3% 0.0% -3
$30,478 - $57,224 0.8% 0.7% 0.0% -4
$0-$30,478 23.0% 22.5% -0.5% -78
Current Law Benefit Type
Retired worker 4.6% 4.5% -0.1% -46
Widow(er) 5.0% 4.7% -0.2% -30
Spouse 5.5% 5.4% -0.1% -9
Disabled worker 8.5% 8.5% 0.0% 0
Source: SSA/Office of Retirement Policy, using MINT 7 Run: 03/09/2015 Ref #: RD0714v1
Providing these estimates does not imply SSA support for the proposal, nor is SSA responsible for any interpretations of these estimates.
Table 4. Beneficiary characteristics, 2030: Older Beneficiaries Increase vs. Scheduled
POPULATION: current law beneficiaries aged 60+
Characteristic All beneficiaries Affected beneficiaries Beneficiaries with lower benefits Beneficiaries with higher benefits
Number (thousands) Percent Number (thousands) Percent Number (thousands) Percent Number (thousands) Percent
Total 73,810 100.0 15,883 100.0 12 100.0 15,871 100.0
Sex
Female 39,993 54.2 10,190 64.2 4 36.9 10,185 64.2
Male 33,817 45.8 5,693 35.8 8 63.1 5,685 35.8
Ethnicity/Race
Hispanic 7,865 10.7 1,015 6.4 2 16.4 1,013 6.4
White 54,004 73.2 12,833 80.8 10 83.6 12,823 80.8
Black 7,559 10.2 1,238 7.8 . . . . . . 1,238 7.8
Other 4,382 5.9 796 5.0 . . . . . . 796 5.0
Country of Birth
U.S. 62,372 84.5 14,207 89.5 10 83.6 14,197 89.5
Foreign 11,438 15.5 1,676 10.5 2 16.4 1,674 10.5
Age
60-69 24,505 33.2 113 0.7 . . . . . . 113 0.7
70-79 31,533 42.7 1,327 8.4 . . . . . . 1,327 8.4
80-89 14,979 20.3 11,666 73.4 12 100.0 11,654 73.4
90+ 2,793 3.8 2,777 17.5 . . . . . . 2,777 17.5
Marital Status
Married 41,785 56.6 7,362 46.4 12 100.0 7,350 46.3
Divorced 13,632 18.5 2,543 16.0 . . . . . . 2,543 16.0
Widowed 12,828 17.4 5,432 34.2 . . . . . . 5,432 34.2
Never Married 5,566 7.5 546 3.4 . . . . . . 546 3.4
Education
Graduate 8,636 11.7 2,303 14.5 4 31.8 2,299 14.5
Bachelor 13,936 18.9 2,835 17.8 2 16.4 2,833 17.9
Associate 16,752 22.7 3,239 20.4 1 7.1 3,239 20.4
High School 28,256 38.3 6,358 40.0 5 44.7 6,352 40.0
Less than 12 Yrs 6,230 8.4 1,147 7.2 . . . . . . 1,147 7.2
Official Poverty
Above poverty 70,205 95.1 15,253 96.0 12 100.0 15,241 96.0
In poverty 3,604 4.9 630 4.0 . . . . . . 630 4.0
Household Income Quintile
$175,526+ 14,762 20.0 3,466 21.8 2 13.9 3,465 21.8
$97,521 - $175,526 14,762 20.0 2,923 18.4 4 31.3 2,919 18.4
$57,224 - $97,521 14,763 20.0 3,027 19.1 4 29.8 3,024 19.1
$30,478 - $57,224 14,759 20.0 3,224 20.3 3 25.0 3,221 20.3
$0-$30,478 14,763 20.0 3,242 20.4 . . . . . . 3,242 20.4
Current Law Benefit Type
Retired worker 51,869 70.3 8,946 56.3 . . . . . . 8,946 56.4
Widow(er) 12,154 16.5 5,136 32.3 . . . . . . 5,136 32.4
Spouse 6,571 8.9 1,801 11.3 12 100.0 1,789 11.3
Disabled worker 3,215 4.4 . . . . . . . . . . . . . . . . . .
Source: SSA/Office of Retirement Policy, using MINT 7 Run: 03/09/2015 Ref #: RD0714v1
Note: . . . = not applicable.
Providing these estimates does not imply SSA support for the proposal, nor is SSA responsible for any interpretations of these estimates.
Table 5. Beneficiary Status, 2030: Older Beneficiaries Increase vs. Scheduled (in thousands)
POPULATION: current law or option beneficiaries aged 60+
Characteristic Current Law Beneficiaries Changes in beneficiary status under proposed option Policy Option Beneficiaries
Added Removed Net Change
Total 73,810 0 73,834
Sex
Female 39,993 0 40,010
Male 33,817 0 33,824
Ethnicity/Race
Hispanic 7,865 0 0 7,865
White 54,004 0 54,025
Black 7,559 0 7,563
Other 4,382 0 0 4,382
Country of Birth
U.S. 62,372 0 62,393
Foreign 11,438 0 11,442
Age
60-69 24,505 0 0 24,505
70-79 31,533 0 31,540
80-89 14,979 0 14,996
90+ 2,793 0 0 2,793
Marital Status
Married 41,785 0 41,809
Divorced 13,632 0 0 13,632
Widowed 12,828 0 0 12,828
Never Married 5,566 0 0 5,566
Education
Graduate 8,636 0 8,646
Bachelor 13,936 0 13,944
Associate 16,752 0 16,758
High School 28,256 0 0 28,256
Less than 12 Yrs 6,230 0 0 6,230
Official Poverty
Above poverty 70,205 0 70,230
In poverty 3,604 0 0 3,604
Household Income Quintile
$175,526+ 14,762 0 14,775
$97,521 - $175,526 14,762 0 14,769
$57,224 - $97,521 14,763 0 14,768
$30,478 - $57,224 14,759 0 0 14,759
$0-$30,478 14,763 0 0 14,763
Current Law Benefit Type
Retired worker 51,869 0 0 51,869
Widow(er) 12,154 0 0 12,154
Spouse 6,571 0 0 6,571
Disabled worker 3,215 0 0 3,215
None 0 0 25
Source: SSA/Office of Retirement Policy, using MINT 7 Run: 03/09/2015 Ref #: RD0714v1
Providing these estimates does not imply SSA support for the proposal, nor is SSA responsible for any interpretations of these estimates.