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Benefit Formula Changes

Increase the computation period from 35 years to 40 years

Projected effects on beneficiaries in 2070

Compare all options »

Table 1. Individual benefits 2070: Increase Comp Yrs to 40 versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total -4% 83% 0%
Sex
Female -4% 83% 0%
Male -4% 82% 0%
Race/Ethnicity
Hispanic -4% 80% 0%
White -4% 85% 0%
Black -4% 74% 0%
Other -5% 85% 0%
Immigration
Immigrant -5% 84% 0%
Native Born -4% 82% 0%
Age
60–69 -4% 75% 0%
70–79 -4% 85% 0%
80–89 -4% 88% 0%
90+ -3% 89% 0%
Marital Status
Never Married -4% 81% 0%
Married -4% 86% 0%
Divorced -4% 77% 0%
Widowed -3% 80% 0%
Education
Graduate -4% 88% 0%
Bachelor -4% 88% 0%
Associate -4% 82% 0%
High School -4% 78% 0%
Less than 12 Yrs -5% 79% 0%
Indiv. Income Quintile
$141,869+ -3% 90% 0%
$76,273 - $141,869 -4% 87% 0%
$47,225 - $76,273 -4% 82% 0%
$28,018 - $47,225 -4% 77% 0%
$0-$28,018 -5% 76% 0%
Hhld. Income Quintile
$234,849+ -3% 89% 0%
$125,659 - $234,849 -4% 88% 0%
$74,813 - $125,659 -4% 84% 0%
$41,558 - $74,813 -4% 79% 0%
$0-$41,558 -5% 73% 0%
Shared Earn. Quintile
$129,152+ -3% 91% 0%
$89,585 - $129,152 -4% 90% 0%
$63,685 - $89,585 -4% 84% 0%
$39,226 - $63,685 -5% 79% 0%
$0-$39,226 -5% 70% 0%
Benefit Type
Retired Worker -5% 99% 0%
Spousal & Worker -3% 89% 1%
Spousal Only -6% 92% 0%
Survivor & Worker -3% 72% 0%
Survivor Only -4% 70% 0%
Retired Disabled 0% 14% 0%
Disabled Worker 0% 4% 0%
Claiming Age
62 or younger -4% 73% 0%
63–66 -4% 92% 0%
67 or older -4% 93% 0%
Quarters of Coverage
201+ -3% 95% 0%
161–200 -4% 89% 0%
81–160 -5% 77% 0%
0–80 -5% 68% 0%
Own AIME Quintile
$11,030+ -3% 91% 0%
$7,326 - $11,030 -4% 87% 0%
$5,076 - $7,326 -4% 81% 0%
$2,910 - $5,076 -5% 77% 0%
$0-$2,910 -5% 78% 0%
Paying AIME Quintile
$12,519+ -3% 90% 0%
$8,545 - $12,519 -4% 87% 0%
$6,145 - $8,545 -4% 82% 0%
$3,923 - $6,145 -5% 79% 0%
$0-$3,923 -5% 76% 0%
Hhld. Benefit Quintile
$4,389+ -3% 88% 0%
$3,216 - $4,389 -3% 85% 0%
$2,435 - $3,216 -4% 83% 0%
$1,690 - $2,435 -4% 79% 0%
$0-$1,690 -5% 79% 0%
Adj. Gross Income
$181,671+ -3% 89% 0%
$123,969 - $181,671 -4% 88% 0%
$82,014 - $123,969 -4% 87% 0%
$1 - $82,014 -5% 83% 0%
$0.00 -4% 74% 0%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
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 2070: Increase Comp Yrs to 40 versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 24% 0% 100%
Sex
Female 24% 0% 100%
Male 24% 0% 100%
Race/Ethnicity
Hispanic 23% 0% 100%
White 24% 0% 100%
Black 24% 0% 100%
Other 23% 0% 100%
Immigration
Immigrant 23% 0% 99%
Native Born 24% 0% 100%
Age
60–69 24% 1% 99%
70–79 24% 0% 100%
80–89 24% 0% 100%
90+ 25% 0% 100%
Marital Status
Never Married 23% 0% 100%
Married 24% 0% 100%
Divorced 24% 0% 100%
Widowed 25% 0% 100%
Education
Graduate 24% 0% 100%
Bachelor 24% 0% 100%
Associate 24% 0% 100%
High School 24% 0% 100%
Less than 12 Yrs 23% 0% 100%
Indiv. Income Quintile
$141,869+ 25% 0% 99%
$76,273 - $141,869 24% 1% 99%
$47,225 - $76,273 24% 0% 100%
$28,018 - $47,225 23% 0% 100%
$0-$28,018 23% 0% 100%
Hhld. Income Quintile
$234,849+ 25% 0% 99%
$125,659 - $234,849 24% 1% 99%
$74,813 - $125,659 24% 0% 100%
$41,558 - $74,813 23% 0% 100%
$0-$41,558 23% 0% 100%
Shared Earn. Quintile
$129,152+ 25% 0% 100%
$89,585 - $129,152 24% 0% 100%
$63,685 - $89,585 24% 0% 100%
$39,226 - $63,685 23% 0% 100%
$0-$39,226 23% 0% 100%
Benefit Type
Retired Worker 23% 0% 100%
Spousal & Worker 25% 0% 100%
Spousal Only 22% 1% 98%
Survivor & Worker 26% 0% 100%
Survivor Only 23% 1% 99%
Retired Disabled 30% 0% 100%
Disabled Worker 30% 0% 100%
Claiming Age
62 or younger 24% 0% 100%
63–66 24% 0% 99%
67 or older 24% 0% 100%
Quarters of Coverage
201+ 26% 0% 99%
161–200 24% 0% 100%
81–160 22% 0% 100%
0–80 23% 0% 100%
Own AIME Quintile
$11,030+ 26% 0% 100%
$7,326 - $11,030 23% 0% 100%
$5,076 - $7,326 24% 0% 100%
$2,910 - $5,076 23% 0% 100%
$0-$2,910 23% 0% 100%
Paying AIME Quintile
$12,519+ 26% 0% 100%
$8,545 - $12,519 24% 0% 100%
$6,145 - $8,545 23% 0% 100%
$3,923 - $6,145 23% 0% 100%
$0-$3,923 22% 0% 100%
Hhld. Benefit Quintile
$4,389+ 25% 0% 100%
$3,216 - $4,389 25% 0% 100%
$2,435 - $3,216 24% 0% 100%
$1,690 - $2,435 23% 0% 100%
$0-$1,690 22% 1% 99%
Adj. Gross Income
$181,671+ 25% 1% 99%
$123,969 - $181,671 24% 0% 100%
$82,014 - $123,969 24% 0% 100%
$1 - $82,014 23% 0% 100%
$0.00 23% 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: 03/09/2012
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 2070: Increase Comp Yrs to 40 versus Scheduled
Characteristic % of Population With % Change of
-20%+ -10 to -19% -1 to -9% No change +1 to +9% +10 to +19% +20%+
Total 0% 4% 78% 17% 0% 0% 0%
Sex
Female 0% 5% 77% 17% 0% 0% 0%
Male 0% 3% 78% 18% 0% 0% 0%
Race/Ethnicity
Hispanic 0% 6% 73% 20% 0% 0% 0%
White 0% 4% 81% 15% 0% 0% 0%
Black 0% 5% 68% 26% 0% 0% 0%
Other 0% 6% 79% 15% 0% 0% 0%
Immigration
Immigrant 1% 7% 76% 16% 0% 0% 0%
Native Born 0% 4% 78% 18% 0% 0% 0%
Age
60–69 1% 6% 67% 25% 0% 0% 0%
70–79 0% 5% 80% 15% 0% 0% 0%
80–89 0% 3% 84% 12% 0% 0% 0%
90+ 0% 2% 87% 11% 0% 0% 0%
Marital Status
Never Married 1% 7% 74% 19% 0% 0% 0%
Married 1% 4% 81% 14% 0% 0% 0%
Divorced 0% 5% 72% 23% 0% 0% 0%
Widowed 0% 3% 77% 20% 0% 0% 0%
Education
Graduate 1% 3% 84% 12% 0% 0% 0%
Bachelor 1% 3% 85% 12% 0% 0% 0%
Associate 0% 4% 78% 18% 0% 0% 0%
High School 0% 5% 73% 21% 0% 0% 0%
Less than 12 Yrs 1% 10% 68% 21% 0% 0% 0%
Indiv. Income Quintile
$141,869+ 1% 2% 87% 10% 0% 0% 0%
$76,273 - $141,869 1% 2% 84% 13% 0% 0% 0%
$47,225 - $76,273 0% 2% 80% 17% 0% 0% 0%
$28,018 - $47,225 0% 3% 75% 23% 0% 0% 0%
$0-$28,018 0% 13% 63% 24% 0% 0% 0%
Hhld. Income Quintile
$234,849+ 1% 2% 86% 11% 0% 0% 0%
$125,659 - $234,849 1% 2% 85% 12% 0% 0% 0%
$74,813 - $125,659 0% 3% 81% 16% 0% 0% 0%
$41,558 - $74,813 0% 3% 76% 21% 0% 0% 0%
$0-$41,558 0% 12% 61% 27% 0% 0% 0%
Shared Earn. Quintile
$129,152+ 0% 2% 89% 9% 0% 0% 0%
$89,585 - $129,152 1% 2% 87% 10% 0% 0% 0%
$63,685 - $89,585 1% 1% 82% 16% 0% 0% 0%
$39,226 - $63,685 0% 1% 77% 21% 0% 0% 0%
$0-$39,226 0% 17% 52% 30% 0% 0% 0%
Benefit Type
Retired Worker 1% 6% 92% 1% 0% 0% 0%
Spousal & Worker 0% 1% 88% 10% 1% 0% 0%
Spousal Only 2% 12% 78% 8% 0% 0% 0%
Survivor & Worker 0% 1% 71% 28% 0% 0% 0%
Survivor Only 1% 8% 61% 30% 0% 0% 0%
Retired Disabled 0% 0% 14% 86% 0% 0% 0%
Disabled Worker 0% 0% 4% 96% 0% 0% 0%
Claiming Age
62 or younger 0% 5% 68% 27% 0% 0% 0%
63–66 1% 4% 88% 8% 0% 0% 0%
67 or older 0% 8% 84% 7% 0% 0% 0%
Quarters of Coverage
201+ 1% 1% 94% 5% 0% 0% 0%
161–200 0% 0% 88% 11% 0% 0% 0%
81–160 0% 4% 72% 23% 0% 0% 0%
0–80 0% 22% 46% 32% 0% 0% 0%
Own AIME Quintile
$11,030+ 0% 0% 90% 9% 0% 0% 0%
$7,326 - $11,030 1% 1% 86% 13% 0% 0% 0%
$5,076 - $7,326 0% 1% 79% 19% 0% 0% 0%
$2,910 - $5,076 0% 1% 76% 23% 0% 0% 0%
$0-$2,910 0% 20% 58% 22% 0% 0% 0%
Paying AIME Quintile
$12,519+ 0% 0% 89% 10% 0% 0% 0%
$8,545 - $12,519 0% 1% 86% 13% 0% 0% 0%
$6,145 - $8,545 0% 1% 81% 18% 0% 0% 0%
$3,923 - $6,145 0% 1% 77% 21% 0% 0% 0%
$0-$3,923 0% 20% 56% 24% 0% 0% 0%
Hhld. Benefit Quintile
$4,389+ 0% 0% 88% 12% 0% 0% 0%
$3,216 - $4,389 0% 1% 83% 15% 0% 0% 0%
$2,435 - $3,216 0% 1% 81% 17% 0% 0% 0%
$1,690 - $2,435 0% 2% 76% 21% 0% 0% 0%
$0-$1,690 2% 17% 60% 21% 0% 0% 0%
Adj. Gross Income
$181,671+ 1% 2% 86% 11% 0% 0% 0%
$123,969 - $181,671 1% 2% 86% 12% 0% 0% 0%
$82,014 - $123,969 1% 3% 83% 13% 0% 0% 0%
$1 - $82,014 0% 7% 75% 17% 0% 0% 0%
$0.00 0% 6% 68% 25% 0% 0% 0%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
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 2070: Increase Comp Yrs to 40 versus Payable
Characteristic % of Population With % Change of
-20%+ -10 to -19% -1 to -9% No change +1 to +9% +10 to +19% +20%+
Total 0% 0% 0% 0% 0% 12% 87%
Sex
Female 0% 0% 0% 0% 0% 14% 85%
Male 0% 0% 0% 0% 0% 10% 89%
Race/Ethnicity
Hispanic 0% 0% 0% 0% 0% 15% 85%
White 0% 0% 0% 0% 0% 11% 89%
Black 0% 0% 0% 0% 0% 11% 88%
Other 0% 0% 0% 0% 0% 19% 80%
Immigration
Immigrant 0% 0% 0% 0% 0% 21% 78%
Native Born 0% 0% 0% 0% 0% 10% 90%
Age
60–69 0% 0% 0% 0% 1% 14% 84%
70–79 0% 0% 0% 0% 0% 13% 87%
80–89 0% 0% 0% 0% 0% 11% 89%
90+ 0% 0% 0% 0% 0% 10% 90%
Marital Status
Never Married 0% 0% 0% 0% 0% 14% 85%
Married 0% 0% 0% 0% 0% 13% 86%
Divorced 0% 0% 0% 0% 0% 12% 88%
Widowed 0% 0% 0% 0% 0% 11% 89%
Education
Graduate 0% 0% 0% 0% 0% 16% 83%
Bachelor 0% 0% 0% 0% 0% 13% 87%
Associate 0% 0% 0% 0% 0% 10% 90%
High School 0% 0% 0% 0% 0% 11% 89%
Less than 12 Yrs 0% 0% 0% 0% 0% 19% 80%
Indiv. Income Quintile
$141,869+ 0% 0% 0% 0% 0% 8% 91%
$76,273 - $141,869 0% 0% 0% 0% 1% 10% 89%
$47,225 - $76,273 0% 0% 0% 0% 0% 13% 87%
$28,018 - $47,225 0% 0% 0% 0% 0% 13% 87%
$0-$28,018 0% 0% 0% 0% 0% 18% 82%
Hhld. Income Quintile
$234,849+ 0% 0% 0% 0% 0% 10% 89%
$125,659 - $234,849 0% 0% 0% 0% 0% 11% 88%
$74,813 - $125,659 0% 0% 0% 0% 0% 12% 88%
$41,558 - $74,813 0% 0% 0% 0% 0% 13% 87%
$0-$41,558 0% 0% 0% 0% 0% 17% 83%
Shared Earn. Quintile
$129,152+ 0% 0% 0% 0% 0% 6% 94%
$89,585 - $129,152 0% 0% 0% 0% 0% 12% 87%
$63,685 - $89,585 0% 0% 0% 0% 0% 13% 86%
$39,226 - $63,685 0% 0% 0% 0% 0% 11% 89%
$0-$39,226 0% 0% 0% 0% 0% 21% 79%
Benefit Type
Retired Worker 0% 0% 0% 0% 0% 16% 84%
Spousal & Worker 0% 0% 0% 0% 0% 9% 90%
Spousal Only 1% 1% 0% 0% 0% 25% 73%
Survivor & Worker 0% 0% 0% 0% 0% 7% 92%
Survivor Only 1% 0% 0% 0% 0% 18% 80%
Retired Disabled 0% 0% 0% 0% 0% 1% 99%
Disabled Worker 0% 0% 0% 0% 0% 0% 100%
Claiming Age
62 or younger 0% 0% 0% 0% 0% 14% 86%
63–66 0% 0% 0% 0% 0% 10% 89%
67 or older 0% 0% 0% 0% 0% 17% 82%
Quarters of Coverage
201+ 0% 0% 0% 0% 0% 1% 98%
161–200 0% 0% 0% 0% 0% 3% 97%
81–160 0% 0% 0% 0% 0% 21% 79%
0–80 0% 0% 0% 0% 0% 30% 70%
Own AIME Quintile
$11,030+ 0% 0% 0% 0% 0% 0% 99%
$7,326 - $11,030 0% 0% 0% 0% 0% 18% 81%
$5,076 - $7,326 0% 0% 0% 0% 0% 16% 83%
$2,910 - $5,076 0% 0% 0% 0% 0% 3% 97%
$0-$2,910 0% 0% 0% 0% 0% 25% 74%
Paying AIME Quintile
$12,519+ 0% 0% 0% 0% 0% 0% 99%
$8,545 - $12,519 0% 0% 0% 0% 0% 13% 87%
$6,145 - $8,545 0% 0% 0% 0% 0% 19% 80%
$3,923 - $6,145 0% 0% 0% 0% 0% 9% 90%
$0-$3,923 0% 0% 0% 0% 0% 22% 78%
Hhld. Benefit Quintile
$4,389+ 0% 0% 0% 0% 0% 8% 92%
$3,216 - $4,389 0% 0% 0% 0% 0% 9% 90%
$2,435 - $3,216 0% 0% 0% 0% 0% 9% 91%
$1,690 - $2,435 0% 0% 0% 0% 0% 14% 85%
$0-$1,690 0% 0% 0% 0% 0% 21% 77%
Adj. Gross Income
$181,671+ 0% 0% 0% 0% 1% 9% 90%
$123,969 - $181,671 0% 0% 0% 0% 0% 10% 89%
$82,014 - $123,969 0% 0% 0% 0% 0% 12% 87%
$1 - $82,014 0% 0% 0% 0% 0% 16% 84%
$0.00 0% 0% 0% 0% 0% 14% 86%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
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 2070: Increase Comp Yrs to 40 versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.2% 1.4% 0.2% 220,091
Sex
Female 1.6% 1.9% 0.3% 170,560
Male 0.7% 0.8% 0.1% 49,530
Race/Ethnicity
Hispanic 1.7% 2.0% 0.3% 58,958
White 0.8% 0.9% 0.1% 79,033
Black 2.2% 2.7% 0.5% 53,200
Other 1.2% 1.5% 0.3% 28,897
Immigration
Immigrant 1.5% 1.9% 0.3% 70,503
Native Born 1.1% 1.3% 0.2% 149,587
Age
60–69 1.5% 1.8% 0.3% 76,819
70–79 1.1% 1.4% 0.3% 92,263
80–89 0.9% 1.1% 0.2% 45,881
90+ 0.7% 0.7% 0.1% 5,126
Marital Status
Never Married 3.4% 4.0% 0.6% 82,719
Married 0.4% 0.5% 0.1% 41,298
Divorced 1.5% 1.9% 0.4% 73,648
Widowed 1.2% 1.4% 0.2% 22,423
Education
Graduate 0.2% 0.4% 0.1% 15,628
Bachelor 0.4% 0.5% 0.2% 35,198
Associate 0.6% 0.8% 0.2% 34,300
High School 1.7% 2.0% 0.3% 81,454
Less than 12 Yrs 3.6% 4.2% 0.6% 53,508
Indiv. Income Quintile
$141,869+ 0.0% 0.0% 0.0% 0
$76,273 - $141,869 0.0% 0.0% 0.0% 0
$47,225 - $76,273 0.0% 0.0% 0.0% 0
$28,018 - $47,225 0.0% 0.0% 0.0% 0
$0-$28,018 5.9% 7.1% 1.2% 220,091
Hhld. Income Quintile
$234,849+ 0.0% 0.0% 0.0% 0
$125,659 - $234,849 0.0% 0.0% 0.0% 0
$74,813 - $125,659 0.0% 0.0% 0.0% 0
$41,558 - $74,813 0.0% 0.0% 0.0% 0
$0-$41,558 5.9% 7.1% 1.2% 220,091
Shared Earn. Quintile
$129,152+ 0.0% 0.0% 0.0% 0
$89,585 - $129,152 0.0% 0.0% 0.0% 0
$63,685 - $89,585 0.0% 0.0% 0.0% 0
$39,226 - $63,685 0.1% 0.1% 0.0% 6,176
$0-$39,226 5.8% 6.9% 1.1% 213,914
Benefit Type
Retired Worker 1.1% 1.4% 0.3% 205,296
Spousal & Worker 0.1% 0.2% 0.1% 4,147
Spousal Only 2.4% 2.7% 0.3% 3,665
Survivor & Worker 0.3% 0.3% 0.0% 4,573
Survivor Only 5.0% 5.3% 0.3% 2,408
Retired Disabled 2.0% 2.0% 0.0% 0
Disabled Worker 2.3% 2.3% 0.0% 0
Claiming Age
62 or younger 1.8% 2.0% 0.2% 111,956
63–66 0.5% 0.7% 0.2% 86,251
67 or older 0.8% 1.1% 0.4% 21,883
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.0% 0.0% 0.0% 0
81–160 0.7% 0.9% 0.3% 101,706
0–80 7.8% 8.8% 1.1% 118,384
Own AIME Quintile
$11,030+ 0.0% 0.0% 0.0% 0
$7,326 - $11,030 0.0% 0.0% 0.0% 0
$5,076 - $7,326 0.0% 0.0% 0.0% 0
$2,910 - $5,076 0.0% 0.0% 0.0% 469
$0-$2,910 5.8% 7.0% 1.2% 219,621
Paying AIME Quintile
$12,519+ 0.0% 0.0% 0.0% 0
$8,545 - $12,519 0.0% 0.0% 0.0% 0
$6,145 - $8,545 0.0% 0.0% 0.0% 2,774
$3,923 - $6,145 0.0% 0.0% 0.0% 0
$0-$3,923 5.8% 7.0% 1.1% 217,317
Hhld. Benefit Quintile
$4,389+ 0.0% 0.0% 0.0% 0
$3,216 - $4,389 0.0% 0.0% 0.0% 0
$2,435 - $3,216 0.0% 0.0% 0.0% 0
$1,690 - $2,435 0.0% 0.0% 0.0% 0
$0-$1,690 5.9% 7.0% 1.2% 220,091
Adj. Gross Income
$181,671+ 0.0% 0.0% 0.0% 0
$123,969 - $181,671 0.0% 0.0% 0.0% 0
$82,014 - $123,969 0.0% 0.0% 0.0% 0
$1 - $82,014 1.0% 1.2% 0.2% 35,088
$0.00 3.0% 3.6% 0.6% 185,002
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
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 2070: Increase Comp Yrs to 40 versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 2.3% 1.4% -0.9% -844,508
Sex
Female 3.0% 1.9% -1.1% -545,143
Male 1.5% 0.8% -0.7% -299,365
Race/Ethnicity
Hispanic 3.3% 2.0% -1.3% -263,449
White 1.5% 0.9% -0.6% -334,117
Black 4.6% 2.7% -1.8% -181,906
Other 2.1% 1.5% -0.6% -65,034
Immigration
Immigrant 3.0% 1.9% -1.1% -243,826
Native Born 2.1% 1.3% -0.8% -600,682
Age
60–69 2.9% 1.8% -1.1% -308,123
70–79 2.3% 1.4% -0.9% -315,846
80–89 1.9% 1.1% -0.8% -180,552
90+ 1.4% 0.7% -0.6% -39,986
Marital Status
Never Married 6.2% 4.0% -2.2% -300,409
Married 0.8% 0.5% -0.3% -169,321
Divorced 3.3% 1.9% -1.4% -265,090
Widowed 2.2% 1.4% -0.8% -109,686
Education
Graduate 0.7% 0.4% -0.4% -38,005
Bachelor 0.7% 0.5% -0.2% -35,829
Associate 1.7% 0.8% -0.9% -198,231
High School 3.3% 2.0% -1.3% -403,367
Less than 12 Yrs 6.1% 4.2% -1.9% -169,074
Indiv. Income Quintile
$141,869+ 0.0% 0.0% 0.0% 0
$76,273 - $141,869 0.0% 0.0% 0.0% 0
$47,225 - $76,273 0.0% 0.0% 0.0% 0
$28,018 - $47,225 0.0% 0.0% 0.0% 0
$0-$28,018 11.6% 7.1% -4.5% -844,508
Hhld. Income Quintile
$234,849+ 0.0% 0.0% 0.0% 0
$125,659 - $234,849 0.0% 0.0% 0.0% 0
$74,813 - $125,659 0.0% 0.0% 0.0% 0
$41,558 - $74,813 0.0% 0.0% 0.0% 0
$0-$41,558 11.6% 7.1% -4.5% -844,508
Shared Earn. Quintile
$129,152+ 0.0% 0.0% 0.0% -2,661
$89,585 - $129,152 0.0% 0.0% 0.0% 0
$63,685 - $89,585 0.0% 0.0% 0.0% 0
$39,226 - $63,685 0.2% 0.1% -0.1% -26,239
$0-$39,226 11.2% 6.9% -4.3% -815,607
Benefit Type
Retired Worker 2.2% 1.4% -0.7% -488,792
Spousal & Worker 0.5% 0.2% -0.2% -7,924
Spousal Only 4.0% 2.7% -1.3% -16,288
Survivor & Worker 0.8% 0.3% -0.4% -43,706
Survivor Only 6.5% 5.3% -1.2% -9,513
Retired Disabled 3.7% 2.0% -1.8% -154,184
Disabled Worker 4.9% 2.3% -2.6% -124,099
Claiming Age
62 or younger 3.5% 2.0% -1.4% -664,228
63–66 1.1% 0.7% -0.4% -154,048
67 or older 1.6% 1.1% -0.4% -26,231
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.1% 0.0% -0.1% -24,867
81–160 2.1% 0.9% -1.1% -403,342
0–80 12.5% 8.8% -3.7% -416,299
Own AIME Quintile
$11,030+ 0.0% 0.0% 0.0% 0
$7,326 - $11,030 0.0% 0.0% 0.0% 0
$5,076 - $7,326 0.0% 0.0% 0.0% -1,669
$2,910 - $5,076 0.6% 0.0% -0.6% -108,805
$0-$2,910 10.9% 7.0% -3.9% -734,034
Paying AIME Quintile
$12,519+ 0.0% 0.0% 0.0% 0
$8,545 - $12,519 0.0% 0.0% 0.0% 0
$6,145 - $8,545 0.1% 0.0% 0.0% -7,701
$3,923 - $6,145 0.1% 0.0% -0.1% -20,940
$0-$3,923 11.3% 7.0% -4.3% -815,866
Hhld. Benefit Quintile
$4,389+ 0.0% 0.0% 0.0% 0
$3,216 - $4,389 0.0% 0.0% 0.0% 0
$2,435 - $3,216 0.0% 0.0% 0.0% 0
$1,690 - $2,435 0.0% 0.0% 0.0% 0
$0-$1,690 11.5% 7.0% -4.5% -844,508
Adj. Gross Income
$181,671+ 0.0% 0.0% 0.0% 0
$123,969 - $181,671 0.0% 0.0% 0.0% 0
$82,014 - $123,969 0.0% 0.0% 0.0% 0
$1 - $82,014 1.7% 1.2% -0.5% -79,444
$0.00 6.1% 3.6% -2.5% -765,064
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
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, 2070
Characteristic Wage-Adjusted (2012 $) Inflation-Adjusted (2012 $) Nominal
(2070 $)
Total $1,016 $2,062 $9,821
Sex
Female $920 $1,867 $8,892
Male $1,131 $2,295 $10,929
Race/Ethnicity
Hispanic $879 $1,784 $8,495
White $1,084 $2,200 $10,478
Black $945 $1,917 $9,129
Other $1,051 $2,132 $10,156
Immigration
Immigrant $907 $1,840 $8,765
Native Born $1,046 $2,122 $10,105
Age
60–69 $966 $1,960 $9,337
70–79 $1,031 $2,093 $9,967
80–89 $1,033 $2,095 $9,979
90+ $1,076 $2,184 $10,401
Marital Status
Never Married $927 $1,881 $8,961
Married $991 $2,010 $9,575
Divorced $1,067 $2,165 $10,312
Widowed $1,121 $2,276 $10,838
Education
Graduate $1,297 $2,632 $12,534
Bachelor $1,231 $2,498 $11,897
Associate $1,000 $2,030 $9,669
High School $907 $1,841 $8,768
Less than 12 Yrs $759 $1,541 $7,339
Indiv. Income Quintile
$141,869+ $1,435 $2,911 $13,865
$76,273 - $141,869 $1,237 $2,510 $11,954
$47,225 - $76,273 $1,090 $2,211 $10,532
$28,018 - $47,225 $942 $1,912 $9,105
$0-$28,018 $625 $1,268 $6,039
Hhld. Income Quintile
$234,849+ $1,354 $2,747 $13,082
$125,659 - $234,849 $1,200 $2,435 $11,599
$74,813 - $125,659 $1,080 $2,192 $10,438
$41,558 - $74,813 $949 $1,926 $9,171
$0-$41,558 $699 $1,419 $6,757
Shared Earn. Quintile
$129,152+ $1,532 $3,109 $14,809
$89,585 - $129,152 $1,265 $2,568 $12,229
$63,685 - $89,585 $1,034 $2,098 $9,993
$39,226 - $63,685 $841 $1,707 $8,130
$0-$39,226 $588 $1,193 $5,682
Benefit Type
Retired Worker $1,032 $2,095 $9,978
Spousal & Worker $656 $1,331 $6,341
Spousal Only $440 $892 $4,251
Survivor & Worker $1,183 $2,400 $11,429
Survivor Only $850 $1,725 $8,217
Retired Disabled $1,010 $2,050 $9,765
Disabled Worker $1,001 $2,032 $9,678
Claiming Age
62 or younger $874 $1,773 $8,446
63–66 $1,154 $2,341 $11,148
67 or older $1,404 $2,849 $13,567
Quarters of Coverage
201+ $1,409 $2,858 $13,612
161–200 $1,167 $2,367 $11,274
81–160 $853 $1,731 $8,247
0–80 $555 $1,126 $5,361
Own AIME Quintile
$11,030+ $1,586 $3,218 $15,327
$7,326 - $11,030 $1,247 $2,531 $12,054
$5,076 - $7,326 $976 $1,979 $9,427
$2,910 - $5,076 $762 $1,545 $7,360
$0-$2,910 $551 $1,117 $5,320
Paying AIME Quintile
$12,519+ $1,590 $3,227 $15,370
$8,545 - $12,519 $1,317 $2,672 $12,728
$6,145 - $8,545 $1,052 $2,135 $10,168
$3,923 - $6,145 $831 $1,685 $8,027
$0-$3,923 $562 $1,141 $5,432
Hhld. Benefit Quintile
$4,389+ $1,390 $2,820 $13,429
$3,216 - $4,389 $1,179 $2,392 $11,392
$2,435 - $3,216 $1,285 $2,606 $12,414
$1,690 - $2,435 $976 $1,981 $9,434
$0-$1,690 $610 $1,237 $5,893
Adj. Gross Income
$181,671+ $1,354 $2,748 $13,087
$123,969 - $181,671 $1,202 $2,440 $11,619
$82,014 - $123,969 $1,112 $2,257 $10,749
$1 - $82,014 $897 $1,819 $8,665
$0.00 $833 $1,690 $8,050
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
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, 2070
Characteristic Wage-Adjusted (2012 $) Inflation-Adjusted (2012 $) Nominal
(2070 $)
Total $780 $1,584 $7,542
Sex
Female $707 $1,434 $6,829
Male $868 $1,762 $8,393
Race/Ethnicity
Hispanic $675 $1,370 $6,524
White $833 $1,690 $8,047
Black $725 $1,472 $7,011
Other $807 $1,638 $7,800
Immigration
Immigrant $697 $1,413 $6,732
Native Born $803 $1,629 $7,761
Age
60–69 $742 $1,506 $7,171
70–79 $792 $1,607 $7,654
80–89 $793 $1,609 $7,664
90+ $827 $1,677 $7,988
Marital Status
Never Married $712 $1,445 $6,882
Married $761 $1,544 $7,354
Divorced $819 $1,663 $7,919
Widowed $861 $1,748 $8,323
Education
Graduate $996 $2,021 $9,626
Bachelor $945 $1,918 $9,137
Associate $768 $1,559 $7,426
High School $697 $1,414 $6,734
Less than 12 Yrs $583 $1,183 $5,636
Indiv. Income Quintile
$141,869+ $1,102 $2,236 $10,649
$76,273 - $141,869 $950 $1,928 $9,181
$47,225 - $76,273 $837 $1,698 $8,089
$28,018 - $47,225 $724 $1,468 $6,993
$0-$28,018 $480 $974 $4,638
Hhld. Income Quintile
$234,849+ $1,040 $2,110 $10,047
$125,659 - $234,849 $922 $1,870 $8,908
$74,813 - $125,659 $830 $1,683 $8,017
$41,558 - $74,813 $729 $1,479 $7,043
$0-$41,558 $537 $1,090 $5,189
Shared Earn. Quintile
$129,152+ $1,177 $2,388 $11,373
$89,585 - $129,152 $972 $1,972 $9,392
$63,685 - $89,585 $794 $1,611 $7,675
$39,226 - $63,685 $646 $1,311 $6,244
$0-$39,226 $452 $916 $4,364
Benefit Type
Retired Worker $793 $1,609 $7,663
Spousal & Worker $504 $1,022 $4,870
Spousal Only $338 $685 $3,264
Survivor & Worker $908 $1,843 $8,777
Survivor Only $653 $1,325 $6,311
Retired Disabled $776 $1,575 $7,499
Disabled Worker $769 $1,561 $7,432
Claiming Age
62 or younger $671 $1,362 $6,487
63–66 $886 $1,798 $8,562
67 or older $1,078 $2,188 $10,420
Quarters of Coverage
201+ $1,082 $2,195 $10,454
161–200 $896 $1,818 $8,659
81–160 $655 $1,330 $6,333
0–80 $426 $865 $4,117
Own AIME Quintile
$11,030+ $1,218 $2,471 $11,771
$7,326 - $11,030 $958 $1,944 $9,258
$5,076 - $7,326 $749 $1,520 $7,240
$2,910 - $5,076 $585 $1,187 $5,653
$0-$2,910 $423 $858 $4,086
Paying AIME Quintile
$12,519+ $1,221 $2,478 $11,804
$8,545 - $12,519 $1,011 $2,052 $9,775
$6,145 - $8,545 $808 $1,640 $7,809
$3,923 - $6,145 $638 $1,294 $6,165
$0-$3,923 $432 $876 $4,172
Hhld. Benefit Quintile
$4,389+ $1,067 $2,165 $10,313
$3,216 - $4,389 $905 $1,837 $8,749
$2,435 - $3,216 $987 $2,002 $9,534
$1,690 - $2,435 $750 $1,521 $7,245
$0-$1,690 $468 $950 $4,526
Adj. Gross Income
$181,671+ $1,040 $2,110 $10,051
$123,969 - $181,671 $923 $1,874 $8,924
$82,014 - $123,969 $854 $1,733 $8,255
$1 - $82,014 $689 $1,397 $6,654
$0.00 $640 $1,298 $6,183
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/09/2012
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.