Benefit Formula Changes

Credit earnings to caregivers' records: Up to 5 years at one-half average wage when caring for children under age six: 2030 | 2050 | 2070

Increase the computation period from 35 years to 40 years: 2030 | 2050 | 2070

Price index the PIA formula: Reduce the formula factors by the difference in growth rates of wages and prices: 2030 | 2050 | 2070

Price index the PIA formula: Protect the bottom 30% of workers from price indexing: 2030 | 2050 | 2070

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: 2030 | 2050 | 2070

Reduce the 90%, 32%, and 15% PIA factors: To 90%, 21%, and 10% over a 31-year period: 2030 | 2050 | 2070

Reduce the 90%, 32%, and 15% PIA factors: To 69.2%, 24.6%, and 11.5% over a 28-year period: 2030 | 2050 | 2070

Reduce initial benefits: By 5%: 2030 | 2050 | 2070

Cost of Living Adjustment Changes

Covered Worker Changes

Retirement Age Increases

Taxation Changes

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Credit earnings to caregivers' records: Up to 5 years at one-half average wage when caring for children under age six

Projected effects on beneficiaries in 2050

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Individual Benefits
Scheduled | Payable
Distribution of Changes
Scheduled | Payable
Poverty
Scheduled | Payable
Median Monthly Benefit
Scheduled | Payable

Table 1. Individual benefits 2050: Child Credits Five Years Half AWI versus Scheduled
Characteristic	Median Percent Change	Percent With
Characteristic	Median Percent Change	Lower Benefits	Higher Benefits
Total	0%	1%	27%
Sex
Female	0%	1%	33%
Male	0%	0%	20%
Race/Ethnicity
Hispanic	0%	1%	42%
White	0%	1%	21%
Black	0%	1%	34%
Other	0%	1%	36%
Immigration
Immigrant	0%	1%	45%
Native Born	0%	1%	22%
Age
60–69	0%	0%	35%
70–79	0%	1%	29%
80–89	0%	1%	19%
90+	0%	0%	13%
Marital Status
Never Married	0%	0%	22%
Married	0%	1%	32%
Divorced	0%	0%	27%
Widowed	0%	0%	19%
Education
Graduate	0%	1%	20%
Bachelor	0%	1%	18%
Associate	0%	1%	24%
High School	0%	1%	32%
Less than 12 Yrs	1%	1%	55%
Indiv. Income Quintile
$118,077+	0%	0%	11%
$63,076 - $118,077	0%	1%	16%
$38,685 - $63,076	0%	1%	23%
$23,078 - $38,685	0%	1%	31%
$0-$23,078	2%	1%	57%
Hhld. Income Quintile
$191,900+	0%	1%	15%
$102,458 - $191,900	0%	1%	20%
$60,945 - $102,458	0%	1%	25%
$33,624 - $60,945	0%	1%	31%
$0-$33,624	0%	0%	46%
Shared Earn. Quintile
$106,162+	0%	1%	6%
$74,636 - $106,162	0%	1%	10%
$52,919 - $74,636	0%	1%	20%
$32,782 - $52,919	0%	1%	39%
$0-$32,782	4%	1%	63%
Benefit Type
Retired Worker	0%	0%	28%
Spousal & Worker	0%	13%	30%
Spousal Only	2%	2%	55%
Survivor & Worker	0%	0%	11%
Survivor Only	0%	0%	35%
Retired Disabled	0%	0%	31%
Disabled Worker	0%	0%	43%
Claiming Age
62 or younger	0%	1%	32%
63–66	0%	0%	22%
67 or older	0%	0%	27%
Quarters of Coverage
201+	0%	0%	3%
161–200	0%	0%	13%
81–160	0%	1%	44%
0–80	1%	2%	52%
Own AIME Quintile
$8,955+	0%	0%	2%
$5,945 - $8,955	0%	0%	9%
$4,095 - $5,945	0%	0%	23%
$2,356 - $4,095	0%	1%	49%
$0-$2,356	2%	2%	55%
Paying AIME Quintile
$10,370+	0%	1%	2%
$7,219 - $10,370	0%	1%	7%
$5,128 - $7,219	0%	0%	16%
$3,307 - $5,128	0%	1%	40%
$0-$3,307	6%	0%	72%
Hhld. Benefit Quintile
$3,486+	0%	2%	12%
$2,564 - $3,486	0%	1%	21%
$1,975 - $2,564	0%	0%	21%
$1,382 - $1,975	0%	0%	28%
$0-$1,382	2%	0%	55%
Adj. Gross Income
$146,400+	0%	1%	14%
$99,794 - $146,400	0%	1%	21%
$66,090 - $99,794	0%	1%	24%
$1 - $66,090	0%	0%	33%
$0.00	0%	0%	37%
Population: current law beneficiaries aged 60 and older Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 04/05/2012
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: Child Credits Five Years Half AWI versus Payable
Characteristic	Median Percent Change	Percent With
Characteristic	Median Percent Change	Lower Benefits	Higher Benefits
Total	27%	0%	100%
Sex
Female	27%	0%	100%
Male	27%	0%	100%
Race/Ethnicity
Hispanic	28%	0%	100%
White	27%	0%	100%
Black	27%	0%	100%
Other	27%	0%	100%
Immigration
Immigrant	28%	0%	100%
Native Born	27%	0%	100%
Age
60–69	27%	0%	100%
70–79	27%	0%	100%
80–89	27%	0%	100%
90+	27%	0%	100%
Marital Status
Never Married	27%	0%	100%
Married	27%	0%	100%
Divorced	27%	0%	100%
Widowed	27%	0%	100%
Education
Graduate	27%	0%	100%
Bachelor	27%	0%	100%
Associate	27%	0%	100%
High School	27%	0%	100%
Less than 12 Yrs	30%	0%	100%
Indiv. Income Quintile
$118,077+	27%	0%	100%
$63,076 - $118,077	27%	0%	100%
$38,685 - $63,076	27%	0%	100%
$23,078 - $38,685	27%	0%	100%
$0-$23,078	31%	0%	100%
Hhld. Income Quintile
$191,900+	27%	0%	100%
$102,458 - $191,900	27%	0%	100%
$60,945 - $102,458	27%	0%	100%
$33,624 - $60,945	27%	0%	100%
$0-$33,624	28%	0%	100%
Shared Earn. Quintile
$106,162+	27%	0%	100%
$74,636 - $106,162	27%	0%	100%
$52,919 - $74,636	27%	0%	100%
$32,782 - $52,919	28%	0%	100%
$0-$32,782	33%	0%	100%
Benefit Type
Retired Worker	27%	0%	100%
Spousal & Worker	28%	0%	100%
Spousal Only	30%	0%	100%
Survivor & Worker	27%	0%	100%
Survivor Only	27%	0%	100%
Retired Disabled	27%	0%	100%
Disabled Worker	28%	0%	100%
Claiming Age
62 or younger	27%	0%	100%
63–66	27%	0%	100%
67 or older	27%	0%	100%
Quarters of Coverage
201+	27%	0%	100%
161–200	27%	0%	100%
81–160	28%	0%	100%
0–80	30%	0%	100%
Own AIME Quintile
$8,955+	27%	0%	100%
$5,945 - $8,955	27%	0%	100%
$4,095 - $5,945	27%	0%	100%
$2,356 - $4,095	29%	0%	100%
$0-$2,356	31%	0%	100%
Paying AIME Quintile
$10,370+	27%	0%	100%
$7,219 - $10,370	27%	0%	100%
$5,128 - $7,219	27%	0%	100%
$3,307 - $5,128	28%	0%	100%
$0-$3,307	35%	0%	100%
Hhld. Benefit Quintile
$3,486+	27%	0%	100%
$2,564 - $3,486	27%	0%	100%
$1,975 - $2,564	27%	0%	100%
$1,382 - $1,975	27%	0%	100%
$0-$1,382	30%	0%	100%
Adj. Gross Income
$146,400+	27%	0%	100%
$99,794 - $146,400	27%	0%	100%
$66,090 - $99,794	27%	0%	100%
$1 - $66,090	27%	0%	100%
$0.00	27%	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: 04/05/2012
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: Child Credits Five Years Half AWI versus Scheduled
Characteristic	% of Population With % Change of
Characteristic	-20%+	-10 to -19%	-1 to -9%	No change	+1 to +9%	+10 to +19%	+20%+
Total	0%	0%	1%	72%	21%	3%	3%
Sex
Female	0%	0%	1%	66%	25%	4%	4%
Male	0%	0%	0%	79%	17%	2%	2%
Race/Ethnicity
Hispanic	0%	0%	1%	57%	32%	5%	5%
White	0%	0%	1%	78%	17%	2%	2%
Black	0%	0%	1%	65%	25%	4%	4%
Other	0%	0%	1%	63%	28%	4%	4%
Immigration
Immigrant	0%	0%	1%	55%	33%	6%	6%
Native Born	0%	0%	1%	77%	18%	2%	2%
Age
60–69	0%	0%	0%	65%	26%	4%	5%
70–79	0%	0%	1%	70%	23%	3%	3%
80–89	0%	0%	1%	80%	16%	2%	2%
90+	0%	0%	0%	87%	10%	2%	1%
Marital Status
Never Married	0%	0%	0%	78%	16%	2%	3%
Married	0%	0%	1%	66%	25%	4%	4%
Divorced	0%	0%	0%	73%	21%	3%	3%
Widowed	0%	0%	0%	81%	15%	2%	2%
Education
Graduate	0%	0%	1%	79%	16%	2%	2%
Bachelor	0%	0%	1%	81%	14%	2%	2%
Associate	0%	0%	0%	76%	19%	2%	2%
High School	0%	0%	1%	67%	25%	3%	3%
Less than 12 Yrs	0%	0%	1%	44%	38%	8%	9%
Indiv. Income Quintile
$118,077+	0%	0%	0%	88%	9%	1%	1%
$63,076 - $118,077	0%	0%	1%	84%	13%	1%	1%
$38,685 - $63,076	0%	0%	1%	77%	20%	2%	1%
$23,078 - $38,685	0%	0%	1%	68%	27%	3%	2%
$0-$23,078	0%	0%	1%	42%	38%	8%	11%
Hhld. Income Quintile
$191,900+	0%	0%	1%	84%	13%	1%	1%
$102,458 - $191,900	0%	0%	1%	79%	17%	2%	2%
$60,945 - $102,458	0%	0%	1%	74%	21%	2%	2%
$33,624 - $60,945	0%	0%	1%	68%	26%	3%	2%
$0-$33,624	0%	0%	0%	54%	31%	6%	9%
Shared Earn. Quintile
$106,162+	0%	0%	1%	93%	5%	1%	1%
$74,636 - $106,162	0%	0%	1%	89%	9%	1%	1%
$52,919 - $74,636	0%	0%	1%	80%	18%	1%	1%
$32,782 - $52,919	0%	0%	1%	61%	36%	2%	1%
$0-$32,782	0%	0%	1%	37%	38%	11%	13%
Benefit Type
Retired Worker	0%	0%	0%	71%	23%	3%	3%
Spousal & Worker	0%	0%	13%	57%	22%	3%	5%
Spousal Only	0%	0%	1%	43%	28%	6%	21%
Survivor & Worker	0%	0%	0%	89%	10%	1%	0%
Survivor Only	0%	0%	0%	65%	25%	3%	6%
Retired Disabled	0%	0%	0%	69%	23%	5%	3%
Disabled Worker	0%	0%	0%	57%	28%	9%	6%
Claiming Age
62 or younger	0%	0%	1%	67%	24%	4%	4%
63–66	0%	0%	0%	77%	18%	2%	2%
67 or older	0%	0%	0%	73%	18%	3%	6%
Quarters of Coverage
201+	0%	0%	0%	96%	3%	0%	0%
161–200	0%	0%	0%	87%	13%	0%	0%
81–160	0%	0%	1%	55%	37%	4%	2%
0–80	0%	0%	2%	45%	21%	12%	20%
Own AIME Quintile
$8,955+	0%	0%	0%	98%	2%	0%	0%
$5,945 - $8,955	0%	0%	0%	91%	9%	0%	0%
$4,095 - $5,945	0%	0%	0%	77%	22%	0%	0%
$2,356 - $4,095	0%	0%	1%	50%	48%	1%	0%
$0-$2,356	0%	0%	2%	43%	27%	13%	15%
Paying AIME Quintile
$10,370+	0%	0%	1%	96%	2%	0%	0%
$7,219 - $10,370	0%	0%	1%	93%	6%	0%	0%
$5,128 - $7,219	0%	0%	0%	83%	16%	0%	0%
$3,307 - $5,128	0%	0%	0%	59%	38%	1%	1%
$0-$3,307	0%	0%	0%	28%	44%	13%	14%
Hhld. Benefit Quintile
$3,486+	0%	0%	2%	86%	12%	0%	0%
$2,564 - $3,486	0%	0%	1%	78%	20%	1%	0%
$1,975 - $2,564	0%	0%	0%	79%	18%	2%	1%
$1,382 - $1,975	0%	0%	0%	72%	24%	2%	2%
$0-$1,382	0%	0%	0%	44%	34%	9%	12%
Adj. Gross Income
$146,400+	0%	0%	1%	85%	12%	1%	1%
$99,794 - $146,400	0%	0%	1%	78%	17%	2%	1%
$66,090 - $99,794	0%	0%	1%	76%	20%	2%	2%
$1 - $66,090	0%	0%	0%	67%	24%	4%	5%
$0.00	0%	0%	0%	63%	27%	5%	5%
Population: current law beneficiaries aged 60 and older Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 04/05/2012
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: Child Credits Five Years Half AWI versus Payable
Characteristic	% of Population With % Change of
Characteristic	-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%	2%	98%
Spousal Only	0%	0%	0%	0%	0%	0%	99%
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%	1%	99%
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%	99%
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: 04/05/2012
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: Child Credits Five Years Half AWI versus Scheduled
Characteristic	Poverty Rate			# of Poor Change
Characteristic	Scheduled	Option	Diff	# of Poor Change
Total	1.9%	1.4%	-0.5%	-426,082
Sex
Female	2.4%	1.7%	-0.7%	-327,647
Male	1.3%	1.0%	-0.3%	-98,435
Race/Ethnicity
Hispanic	3.0%	1.9%	-1.0%	-141,671
White	1.2%	0.9%	-0.3%	-149,865
Black	3.9%	3.0%	-0.9%	-79,849
Other	2.2%	1.4%	-0.8%	-54,696
Immigration
Immigrant	2.9%	2.0%	-0.9%	-170,415
Native Born	1.6%	1.2%	-0.4%	-255,667
Age
60–69	2.4%	1.7%	-0.7%	-191,866
70–79	2.0%	1.4%	-0.5%	-163,299
80–89	1.4%	1.0%	-0.3%	-63,161
90+	0.9%	0.7%	-0.1%	-7,755
Marital Status
Never Married	5.3%	4.5%	-0.8%	-73,220
Married	0.8%	0.5%	-0.3%	-129,699
Divorced	2.8%	1.9%	-0.8%	-126,783
Widowed	1.9%	1.3%	-0.6%	-96,379
Education
Graduate	0.6%	0.4%	-0.1%	-9,712
Bachelor	0.6%	0.4%	-0.2%	-42,357
Associate	1.3%	0.9%	-0.3%	-67,602
High School	2.6%	2.0%	-0.6%	-170,926
Less than 12 Yrs	6.3%	4.2%	-2.1%	-135,484
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%	6.9%	-2.6%	-426,082
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%	6.9%	-2.6%	-426,082
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%	-3,114
$32,782 - $52,919	0.1%	0.1%	0.0%	-7,801
$0-$32,782	9.4%	6.8%	-2.6%	-415,167
Benefit Type
Retired Worker	1.8%	1.3%	-0.5%	-245,843
Spousal & Worker	0.5%	0.5%	0.0%	-1,461
Spousal Only	5.1%	3.0%	-2.1%	-21,103
Survivor & Worker	0.5%	0.4%	-0.1%	-16,795
Survivor Only	7.0%	5.2%	-1.8%	-16,286
Retired Disabled	2.7%	2.0%	-0.7%	-52,929
Disabled Worker	4.3%	2.6%	-1.7%	-71,662
Claiming Age
62 or younger	3.0%	2.3%	-0.7%	-279,800
63–66	0.8%	0.5%	-0.3%	-111,747
67 or older	1.3%	0.6%	-0.6%	-34,534
Quarters of Coverage
201+	0.0%	0.0%	0.0%	0
161–200	0.1%	0.1%	0.0%	-4,286
81–160	1.4%	1.0%	-0.4%	-133,260
0–80	11.0%	8.1%	-3.0%	-288,536
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%	0
$2,356 - $4,095	0.5%	0.4%	-0.1%	-18,757
$0-$2,356	9.0%	6.5%	-2.5%	-407,325
Paying AIME Quintile
$10,370+	0.0%	0.0%	0.0%	0
$7,219 - $10,370	0.0%	0.0%	0.0%	0
$5,128 - $7,219	0.0%	0.0%	0.0%	0
$3,307 - $5,128	0.2%	0.1%	0.0%	-7,954
$0-$3,307	9.3%	6.7%	-2.6%	-418,127
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%	0
$0-$1,382	9.5%	6.8%	-2.6%	-426,082
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%	0.0%	0.0%	-2,183
$1 - $66,090	1.4%	1.0%	-0.4%	-58,788
$0.00	5.0%	3.7%	-1.4%	-365,110
Population: current law beneficiaries aged 60 and older Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 04/05/2012
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: Child Credits Five Years Half AWI versus Payable
Characteristic	Poverty Rate			# of Poor Change
Characteristic	Payable	Option	Diff	# of Poor Change
Total	3.5%	1.4%	-2.1%	-1,700,838
Sex
Female	4.1%	1.7%	-2.5%	-1,088,766
Male	2.7%	1.0%	-1.6%	-612,071
Race/Ethnicity
Hispanic	5.2%	1.9%	-3.2%	-447,348
White	2.4%	0.9%	-1.5%	-748,827
Black	7.1%	3.0%	-4.0%	-351,471
Other	3.6%	1.4%	-2.2%	-153,190
Immigration
Immigrant	4.9%	2.0%	-2.9%	-535,535
Native Born	3.1%	1.2%	-1.9%	-1,165,302
Age
60–69	4.3%	1.7%	-2.6%	-676,445
70–79	3.7%	1.4%	-2.3%	-683,124
80–89	2.5%	1.0%	-1.4%	-282,109
90+	1.9%	0.7%	-1.1%	-59,159
Marital Status
Never Married	9.1%	4.5%	-4.5%	-409,842
Married	1.5%	0.5%	-1.1%	-421,125
Divorced	5.0%	1.9%	-3.1%	-481,233
Widowed	3.7%	1.3%	-2.4%	-388,636
Education
Graduate	0.8%	0.4%	-0.4%	-35,231
Bachelor	1.2%	0.4%	-0.8%	-143,927
Associate	2.9%	0.9%	-1.9%	-380,731
High School	4.7%	2.0%	-2.7%	-741,030
Less than 12 Yrs	10.3%	4.2%	-6.1%	-399,917
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%	6.9%	-10.6%	-1,700,838
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%	6.9%	-10.6%	-1,700,838
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%	-12,186
$32,782 - $52,919	1.1%	0.1%	-1.1%	-170,925
$0-$32,782	16.2%	6.8%	-9.4%	-1,517,726
Benefit Type
Retired Worker	3.1%	1.3%	-1.8%	-950,798
Spousal & Worker	0.9%	0.5%	-0.5%	-14,219
Spousal Only	7.9%	3.0%	-4.9%	-49,159
Survivor & Worker	1.6%	0.4%	-1.2%	-134,913
Survivor Only	10.4%	5.2%	-5.1%	-47,131
Retired Disabled	5.6%	2.0%	-3.6%	-267,112
Disabled Worker	8.2%	2.6%	-5.6%	-237,503
Claiming Age
62 or younger	5.4%	2.3%	-3.1%	-1,233,993
63–66	1.6%	0.5%	-1.1%	-392,842
67 or older	2.0%	0.6%	-1.4%	-74,001
Quarters of Coverage
201+	0.0%	0.0%	0.0%	-1,903
161–200	0.5%	0.1%	-0.4%	-111,001
81–160	3.7%	1.0%	-2.7%	-818,574
0–80	16.0%	8.1%	-7.9%	-769,358
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%	-32,427
$2,356 - $4,095	3.1%	0.4%	-2.7%	-441,884
$0-$2,356	14.1%	6.5%	-7.6%	-1,226,525
Paying AIME Quintile
$10,370+	0.0%	0.0%	0.0%	0
$7,219 - $10,370	0.0%	0.0%	0.0%	-4,879
$5,128 - $7,219	0.1%	0.0%	-0.1%	-14,359
$3,307 - $5,128	1.3%	0.1%	-1.2%	-190,397
$0-$3,307	15.9%	6.7%	-9.2%	-1,491,201
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%	-29,089
$0-$1,382	17.2%	6.8%	-10.3%	-1,671,748
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%	0.0%	-0.1%	-7,613
$1 - $66,090	2.0%	1.0%	-1.1%	-145,896
$0.00	9.5%	3.7%	-5.8%	-1,544,409
Population: current law beneficiaries aged 60 and older Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 04/05/2012
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: 04/05/2012
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: 04/05/2012
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.