You are here: Social Security Administration > Office of Retirement Policy > Policy Option Projections > Benefit Formula Changes > Price index the PIA formula: Reduce the formula factors by the difference in growth rates of wages and prices

Benefit Formula Changes

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

Projected effects on beneficiaries in 2050

Compare all options »

Table 1. Individual benefits 2050: Price Indexing versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total -21% 95% 0%
Sex
Female -20% 94% 0%
Male -22% 97% 0%
Race/Ethnicity
Hispanic -22% 97% 0%
White -20% 95% 0%
Black -21% 95% 0%
Other -22% 97% 0%
Immigration
Immigrant -21% 97% 0%
Native Born -20% 95% 0%
Age
60–69 -28% 98% 0%
70–79 -21% 98% 0%
80–89 -12% 96% 0%
90+ -3% 62% 0%
Marital Status
Never Married -23% 96% 0%
Married -24% 99% 0%
Divorced -21% 96% 0%
Widowed -11% 86% 0%
Education
Graduate -20% 95% 0%
Bachelor -20% 96% 0%
Associate -20% 95% 0%
High School -20% 94% 0%
Less than 12 Yrs -24% 97% 0%
Indiv. Income Quintile
$118,077+ -19% 94% 0%
$63,076 - $118,077 -21% 96% 0%
$38,685 - $63,076 -22% 96% 0%
$23,078 - $38,685 -21% 97% 0%
$0-$23,078 -21% 94% 0%
Hhld. Income Quintile
$191,900+ -21% 95% 0%
$102,458 - $191,900 -22% 97% 0%
$60,945 - $102,458 -21% 97% 0%
$33,624 - $60,945 -20% 95% 0%
$0-$33,624 -19% 92% 0%
Shared Earn. Quintile
$106,162+ -19% 96% 0%
$74,636 - $106,162 -20% 96% 0%
$52,919 - $74,636 -21% 96% 0%
$32,782 - $52,919 -22% 96% 0%
$0-$32,782 -21% 93% 0%
Benefit Type
Retired Worker -23% 99% 0%
Spousal & Worker -22% 100% 0%
Spousal Only -22% 98% 1%
Survivor & Worker -11% 84% 0%
Survivor Only -13% 87% 0%
Retired Disabled -17% 90% 0%
Disabled Worker -28% 93% 0%
Claiming Age
62 or younger -21% 94% 0%
63–66 -21% 97% 0%
67 or older -19% 96% 0%
Quarters of Coverage
201+ -19% 96% 0%
161–200 -21% 97% 0%
81–160 -21% 96% 0%
0–80 -18% 86% 0%
Own AIME Quintile
$8,955+ -20% 97% 0%
$5,945 - $8,955 -21% 97% 0%
$4,095 - $5,945 -21% 96% 0%
$2,356 - $4,095 -21% 95% 0%
$0-$2,356 -21% 92% 0%
Paying AIME Quintile
$10,370+ -18% 94% 0%
$7,219 - $10,370 -19% 95% 0%
$5,128 - $7,219 -21% 96% 0%
$3,307 - $5,128 -22% 97% 0%
$0-$3,307 -23% 94% 0%
Hhld. Benefit Quintile
$3,486+ -22% 99% 0%
$2,564 - $3,486 -22% 98% 0%
$1,975 - $2,564 -19% 95% 0%
$1,382 - $1,975 -19% 93% 0%
$0-$1,382 -21% 91% 0%
Adj. Gross Income
$146,400+ -22% 98% 0%
$99,794 - $146,400 -22% 97% 0%
$66,090 - $99,794 -21% 96% 0%
$1 - $66,090 -21% 95% 0%
$0.00 -19% 93% 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 2050: Price Indexing versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 0% 47% 50%
Sex
Female 1% 43% 53%
Male -1% 50% 46%
Race/Ethnicity
Hispanic -1% 53% 42%
White 1% 44% 52%
Black 0% 47% 49%
Other -1% 51% 45%
Immigration
Immigrant 0% 49% 46%
Native Born 1% 46% 51%
Age
60–69 -9% 91% 8%
70–79 0% 46% 45%
80–89 12% 1% 99%
90+ 23% 0% 100%
Marital Status
Never Married -1% 53% 42%
Married -3% 59% 36%
Divorced 0% 47% 49%
Widowed 13% 11% 87%
Education
Graduate 1% 44% 53%
Bachelor 1% 46% 50%
Associate 1% 45% 51%
High School 1% 45% 51%
Less than 12 Yrs -3% 63% 32%
Indiv. Income Quintile
$118,077+ 3% 39% 58%
$63,076 - $118,077 0% 49% 47%
$38,685 - $63,076 -1% 50% 46%
$23,078 - $38,685 0% 47% 48%
$0-$23,078 0% 47% 49%
Hhld. Income Quintile
$191,900+ 0% 47% 50%
$102,458 - $191,900 -1% 52% 45%
$60,945 - $102,458 0% 49% 47%
$33,624 - $60,945 1% 45% 51%
$0-$33,624 2% 40% 55%
Shared Earn. Quintile
$106,162+ 2% 43% 54%
$74,636 - $106,162 1% 44% 53%
$52,919 - $74,636 0% 47% 49%
$32,782 - $52,919 0% 50% 46%
$0-$32,782 0% 50% 46%
Benefit Type
Retired Worker -1% 54% 42%
Spousal & Worker 0% 49% 43%
Spousal Only -1% 52% 41%
Survivor & Worker 13% 16% 82%
Survivor Only 10% 15% 81%
Retired Disabled 6% 29% 67%
Disabled Worker -8% 70% 28%
Claiming Age
62 or younger 0% 49% 48%
63–66 0% 46% 50%
67 or older 3% 33% 62%
Quarters of Coverage
201+ 2% 43% 54%
161–200 0% 49% 47%
81–160 0% 49% 47%
0–80 4% 37% 59%
Own AIME Quintile
$8,955+ 1% 45% 52%
$5,945 - $8,955 0% 47% 49%
$4,095 - $5,945 0% 47% 48%
$2,356 - $4,095 0% 47% 49%
$0-$2,356 0% 47% 49%
Paying AIME Quintile
$10,370+ 3% 37% 60%
$7,219 - $10,370 2% 41% 55%
$5,128 - $7,219 0% 48% 49%
$3,307 - $5,128 -1% 51% 45%
$0-$3,307 -2% 56% 40%
Hhld. Benefit Quintile
$3,486+ -1% 54% 41%
$2,564 - $3,486 0% 50% 46%
$1,975 - $2,564 3% 40% 56%
$1,382 - $1,975 2% 41% 55%
$0-$1,382 0% 47% 49%
Adj. Gross Income
$146,400+ -1% 53% 43%
$99,794 - $146,400 -1% 51% 45%
$66,090 - $99,794 0% 47% 50%
$1 - $66,090 0% 47% 49%
$0.00 2% 40% 55%
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 2050: Price Indexing 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 54% 31% 11% 5% 0% 0% 0%
Sex
Female 51% 31% 12% 6% 0% 0% 0%
Male 58% 31% 8% 3% 0% 0% 0%
Race/Ethnicity
Hispanic 62% 28% 7% 3% 0% 0% 0%
White 51% 31% 12% 5% 0% 0% 0%
Black 55% 30% 9% 5% 0% 0% 0%
Other 59% 30% 8% 3% 0% 0% 0%
Immigration
Immigrant 58% 31% 8% 3% 0% 0% 0%
Native Born 53% 31% 11% 5% 0% 0% 0%
Age
60–69 92% 4% 2% 2% 0% 0% 0%
70–79 64% 32% 2% 2% 0% 0% 0%
80–89 1% 73% 22% 4% 0% 0% 0%
90+ 0% 2% 59% 38% 0% 0% 0%
Marital Status
Never Married 62% 27% 8% 4% 0% 0% 0%
Married 68% 27% 4% 1% 0% 0% 0%
Divorced 55% 31% 10% 4% 0% 0% 0%
Widowed 16% 42% 29% 14% 0% 0% 0%
Education
Graduate 50% 34% 11% 5% 0% 0% 0%
Bachelor 53% 32% 11% 4% 0% 0% 0%
Associate 53% 32% 11% 4% 0% 0% 0%
High School 53% 30% 11% 6% 0% 0% 0%
Less than 12 Yrs 71% 21% 5% 3% 0% 0% 0%
Indiv. Income Quintile
$118,077+ 45% 34% 15% 6% 0% 0% 0%
$63,076 - $118,077 55% 30% 11% 4% 0% 0% 0%
$38,685 - $63,076 57% 30% 9% 4% 0% 0% 0%
$23,078 - $38,685 56% 31% 9% 3% 0% 0% 0%
$0-$23,078 56% 29% 9% 6% 0% 0% 0%
Hhld. Income Quintile
$191,900+ 53% 31% 11% 5% 0% 0% 0%
$102,458 - $191,900 59% 29% 9% 3% 0% 0% 0%
$60,945 - $102,458 57% 30% 10% 3% 0% 0% 0%
$33,624 - $60,945 53% 32% 11% 5% 0% 0% 0%
$0-$33,624 49% 32% 12% 7% 0% 0% 0%
Shared Earn. Quintile
$106,162+ 49% 33% 13% 4% 0% 0% 0%
$74,636 - $106,162 51% 33% 12% 4% 0% 0% 0%
$52,919 - $74,636 55% 31% 10% 4% 0% 0% 0%
$32,782 - $52,919 58% 29% 9% 4% 0% 0% 0%
$0-$32,782 58% 26% 9% 7% 0% 0% 0%
Benefit Type
Retired Worker 62% 30% 7% 1% 0% 0% 0%
Spousal & Worker 63% 32% 4% 0% 0% 0% 0%
Spousal Only 65% 30% 3% 1% 0% 0% 1%
Survivor & Worker 21% 36% 28% 16% 0% 0% 0%
Survivor Only 23% 40% 23% 13% 0% 0% 0%
Retired Disabled 37% 40% 12% 10% 0% 0% 0%
Disabled Worker 74% 12% 8% 7% 0% 0% 0%
Claiming Age
62 or younger 56% 28% 10% 6% 0% 0% 0%
63–66 54% 32% 11% 3% 0% 0% 0%
67 or older 43% 41% 12% 4% 0% 0% 0%
Quarters of Coverage
201+ 50% 35% 12% 4% 0% 0% 0%
161–200 57% 30% 10% 3% 0% 0% 0%
81–160 57% 30% 10% 4% 0% 0% 0%
0–80 44% 28% 14% 14% 0% 0% 0%
Own AIME Quintile
$8,955+ 51% 35% 11% 3% 0% 0% 0%
$5,945 - $8,955 54% 32% 11% 3% 0% 0% 0%
$4,095 - $5,945 55% 31% 10% 4% 0% 0% 0%
$2,356 - $4,095 55% 29% 11% 5% 0% 0% 0%
$0-$2,356 55% 27% 11% 8% 0% 0% 0%
Paying AIME Quintile
$10,370+ 44% 36% 15% 6% 0% 0% 0%
$7,219 - $10,370 49% 33% 13% 5% 0% 0% 0%
$5,128 - $7,219 55% 32% 10% 4% 0% 0% 0%
$3,307 - $5,128 59% 29% 8% 3% 0% 0% 0%
$0-$3,307 64% 23% 7% 6% 0% 0% 0%
Hhld. Benefit Quintile
$3,486+ 64% 32% 4% 0% 0% 0% 0%
$2,564 - $3,486 58% 32% 8% 2% 0% 0% 0%
$1,975 - $2,564 47% 33% 15% 5% 0% 0% 0%
$1,382 - $1,975 48% 31% 14% 7% 0% 0% 0%
$0-$1,382 54% 26% 12% 9% 0% 0% 0%
Adj. Gross Income
$146,400+ 60% 30% 8% 2% 0% 0% 0%
$99,794 - $146,400 59% 29% 9% 3% 0% 0% 0%
$66,090 - $99,794 54% 31% 11% 4% 0% 0% 0%
$1 - $66,090 55% 29% 11% 5% 0% 0% 0%
$0.00 48% 32% 13% 7% 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 2050: Price Indexing 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 2% 13% 31% 4% 25% 17% 8%
Sex
Female 2% 12% 29% 4% 24% 18% 10%
Male 3% 13% 34% 4% 25% 15% 5%
Race/Ethnicity
Hispanic 3% 16% 34% 5% 25% 13% 4%
White 3% 12% 30% 3% 24% 19% 9%
Black 2% 13% 32% 4% 25% 15% 8%
Other 2% 12% 37% 5% 26% 13% 6%
Immigration
Immigrant 2% 12% 34% 5% 26% 14% 5%
Native Born 2% 13% 31% 4% 24% 17% 9%
Age
60–69 7% 39% 45% 1% 4% 2% 3%
70–79 0% 1% 45% 9% 38% 4% 2%
80–89 0% 0% 1% 0% 39% 52% 8%
90+ 0% 0% 0% 0% 0% 32% 68%
Marital Status
Never Married 3% 16% 34% 5% 23% 12% 7%
Married 3% 16% 40% 4% 25% 9% 2%
Divorced 2% 13% 32% 4% 24% 17% 8%
Widowed 0% 2% 9% 2% 26% 38% 24%
Education
Graduate 3% 11% 31% 3% 27% 18% 8%
Bachelor 3% 11% 31% 4% 26% 17% 7%
Associate 2% 13% 30% 4% 25% 18% 8%
High School 2% 13% 30% 4% 24% 17% 9%
Less than 12 Yrs 3% 19% 42% 5% 19% 9% 4%
Indiv. Income Quintile
$118,077+ 4% 8% 28% 3% 25% 22% 11%
$63,076 - $118,077 5% 12% 33% 3% 23% 17% 7%
$38,685 - $63,076 3% 15% 32% 4% 24% 15% 7%
$23,078 - $38,685 0% 15% 33% 4% 27% 15% 6%
$0-$23,078 0% 14% 32% 5% 25% 14% 9%
Hhld. Income Quintile
$191,900+ 4% 11% 32% 3% 24% 17% 8%
$102,458 - $191,900 4% 14% 34% 3% 23% 15% 6%
$60,945 - $102,458 3% 13% 33% 4% 25% 16% 6%
$33,624 - $60,945 1% 13% 30% 4% 26% 17% 8%
$0-$33,624 0% 13% 27% 4% 26% 18% 11%
Shared Earn. Quintile
$106,162+ 3% 9% 30% 4% 25% 20% 8%
$74,636 - $106,162 3% 11% 30% 4% 26% 19% 8%
$52,919 - $74,636 3% 13% 32% 4% 25% 17% 7%
$32,782 - $52,919 2% 15% 33% 4% 24% 15% 6%
$0-$32,782 1% 16% 32% 4% 23% 13% 10%
Benefit Type
Retired Worker 3% 15% 36% 4% 25% 13% 3%
Spousal & Worker 2% 11% 36% 8% 29% 12% 1%
Spousal Only 4% 9% 40% 7% 29% 8% 4%
Survivor & Worker 0% 3% 13% 2% 21% 35% 26%
Survivor Only 2% 3% 11% 4% 30% 27% 24%
Retired Disabled 0% 0% 28% 4% 32% 20% 15%
Disabled Worker 0% 38% 32% 2% 10% 8% 10%
Claiming Age
62 or younger 2% 17% 29% 4% 23% 16% 10%
63–66 4% 9% 34% 4% 26% 18% 6%
67 or older 0% 1% 32% 5% 33% 21% 8%
Quarters of Coverage
201+ 5% 6% 32% 3% 27% 20% 7%
161–200 3% 14% 33% 4% 25% 16% 6%
81–160 1% 16% 32% 4% 25% 16% 6%
0–80 1% 10% 26% 4% 22% 18% 20%
Own AIME Quintile
$8,955+ 3% 9% 32% 3% 27% 19% 6%
$5,945 - $8,955 3% 12% 32% 4% 25% 18% 6%
$4,095 - $5,945 2% 13% 32% 4% 24% 17% 7%
$2,356 - $4,095 2% 14% 31% 4% 24% 16% 9%
$0-$2,356 2% 15% 30% 4% 23% 15% 11%
Paying AIME Quintile
$10,370+ 3% 7% 27% 3% 27% 22% 11%
$7,219 - $10,370 2% 10% 29% 4% 25% 20% 9%
$5,128 - $7,219 2% 13% 33% 4% 25% 17% 7%
$3,307 - $5,128 3% 14% 34% 4% 25% 14% 5%
$0-$3,307 2% 19% 35% 4% 21% 10% 8%
Hhld. Benefit Quintile
$3,486+ 1% 9% 44% 5% 29% 11% 1%
$2,564 - $3,486 2% 12% 36% 4% 27% 15% 4%
$1,975 - $2,564 1% 12% 26% 4% 25% 22% 10%
$1,382 - $1,975 2% 13% 26% 3% 23% 20% 12%
$0-$1,382 6% 16% 25% 3% 20% 16% 13%
Adj. Gross Income
$146,400+ 5% 11% 37% 4% 25% 14% 5%
$99,794 - $146,400 4% 13% 35% 4% 25% 14% 6%
$66,090 - $99,794 3% 12% 32% 4% 25% 17% 8%
$1 - $66,090 3% 14% 30% 4% 24% 17% 9%
$0.00 0% 13% 27% 4% 25% 20% 11%
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 2050: Price Indexing versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.9% 3.2% 1.3% 1,069,062
Sex
Female 2.4% 3.8% 1.4% 626,877
Male 1.3% 2.5% 1.2% 442,185
Race/Ethnicity
Hispanic 3.0% 5.0% 2.0% 275,097
White 1.2% 2.2% 1.0% 504,080
Black 3.9% 6.2% 2.3% 197,624
Other 2.2% 3.5% 1.3% 92,259
Immigration
Immigrant 2.9% 4.8% 1.9% 351,628
Native Born 1.6% 2.7% 1.1% 717,434
Age
60–69 2.4% 4.5% 2.1% 545,599
70–79 2.0% 3.4% 1.4% 425,756
80–89 1.4% 1.8% 0.5% 89,930
90+ 0.9% 1.0% 0.1% 7,777
Marital Status
Never Married 5.3% 8.7% 3.3% 301,120
Married 0.8% 1.5% 0.7% 268,119
Divorced 2.8% 4.9% 2.2% 336,557
Widowed 1.9% 2.9% 1.0% 163,265
Education
Graduate 0.6% 1.0% 0.5% 41,088
Bachelor 0.6% 1.1% 0.5% 89,457
Associate 1.3% 2.5% 1.2% 231,756
High School 2.6% 4.3% 1.7% 458,051
Less than 12 Yrs 6.3% 10.1% 3.8% 248,708
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% 2,619
$0-$23,078 9.6% 16.2% 6.6% 1,066,443
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% 16.2% 6.6% 1,069,062
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% 0.1% 0.0% 6,951
$32,782 - $52,919 0.1% 1.0% 0.8% 137,626
$0-$32,782 9.4% 15.1% 5.7% 924,485
Benefit Type
Retired Worker 1.8% 3.2% 1.4% 760,371
Spousal & Worker 0.5% 0.8% 0.3% 9,290
Spousal Only 5.1% 7.7% 2.6% 25,942
Survivor & Worker 0.5% 1.2% 0.7% 75,470
Survivor Only 7.0% 8.8% 1.8% 16,049
Retired Disabled 2.7% 3.7% 1.0% 72,096
Disabled Worker 4.3% 6.9% 2.6% 109,841
Claiming Age
62 or younger 3.0% 4.9% 1.9% 766,136
63–66 0.8% 1.5% 0.7% 264,041
67 or older 1.3% 2.0% 0.7% 38,885
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.1% 0.5% 0.4% 101,214
81–160 1.4% 3.7% 2.2% 666,599
0–80 11.0% 14.1% 3.1% 301,248
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% 0.1% 0.1% 11,984
$2,356 - $4,095 0.5% 2.5% 2.1% 334,135
$0-$2,356 9.0% 13.5% 4.5% 722,943
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% 2,321
$5,128 - $7,219 0.0% 0.1% 0.1% 8,176
$3,307 - $5,128 0.2% 0.9% 0.7% 120,288
$0-$3,307 9.3% 15.1% 5.8% 938,275
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% 0.2% 0.2% 31,909
$0-$1,382 9.5% 15.9% 6.4% 1,037,153
Adj. Gross Income
$146,400+ 0.0% 0.0% 0.0% 5,025
$99,794 - $146,400 0.0% 0.0% 0.0% 2,293
$66,090 - $99,794 0.1% 0.1% 0.1% 6,950
$1 - $66,090 1.4% 2.0% 0.6% 76,385
$0.00 5.0% 8.7% 3.7% 978,407
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 2050: Price Indexing versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 3.5% 3.2% -0.3% -205,692
Sex
Female 4.1% 3.8% -0.3% -134,241
Male 2.7% 2.5% -0.2% -71,450
Race/Ethnicity
Hispanic 5.2% 5.0% -0.2% -30,578
White 2.4% 2.2% -0.2% -94,881
Black 7.1% 6.2% -0.9% -73,997
Other 3.6% 3.5% -0.1% -6,234
Immigration
Immigrant 4.9% 4.8% -0.1% -13,491
Native Born 3.1% 2.7% -0.3% -192,200
Age
60–69 4.3% 4.5% 0.2% 61,020
70–79 3.7% 3.4% -0.3% -94,068
80–89 2.5% 1.8% -0.7% -129,017
90+ 1.9% 1.0% -0.8% -43,626
Marital Status
Never Married 9.1% 8.7% -0.4% -35,501
Married 1.5% 1.5% -0.1% -23,306
Divorced 5.0% 4.9% -0.1% -17,893
Widowed 3.7% 2.9% -0.8% -128,991
Education
Graduate 0.8% 1.0% 0.2% 15,569
Bachelor 1.2% 1.1% -0.1% -12,112
Associate 2.9% 2.5% -0.4% -81,372
High School 4.7% 4.3% -0.4% -112,052
Less than 12 Yrs 10.3% 10.1% -0.2% -15,724
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% 2,619
$0-$23,078 17.5% 16.2% -1.3% -208,312
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% 16.2% -1.3% -205,692
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% 0.1% 0.0% -2,120
$32,782 - $52,919 1.1% 1.0% -0.2% -25,498
$0-$32,782 16.2% 15.1% -1.1% -178,074
Benefit Type
Retired Worker 3.1% 3.2% 0.1% 55,416
Spousal & Worker 0.9% 0.8% -0.1% -3,467
Spousal Only 7.9% 7.7% -0.2% -2,112
Survivor & Worker 1.6% 1.2% -0.4% -42,647
Survivor Only 10.4% 8.8% -1.6% -14,795
Retired Disabled 5.6% 3.7% -1.9% -142,086
Disabled Worker 8.2% 6.9% -1.3% -55,999
Claiming Age
62 or younger 5.4% 4.9% -0.5% -188,056
63–66 1.6% 1.5% 0.0% -17,054
67 or older 2.0% 2.0% 0.0% -581
Quarters of Coverage
201+ 0.0% 0.0% 0.0% -1,903
161–200 0.5% 0.5% 0.0% -5,500
81–160 3.7% 3.7% -0.1% -18,715
0–80 16.0% 14.1% -1.8% -179,573
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% 0.1% -0.1% -20,443
$2,356 - $4,095 3.1% 2.5% -0.5% -88,991
$0-$2,356 14.1% 13.5% -0.6% -96,256
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% -2,557
$5,128 - $7,219 0.1% 0.1% 0.0% -6,183
$3,307 - $5,128 1.3% 0.9% -0.4% -62,154
$0-$3,307 15.9% 15.1% -0.8% -134,797
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% 0.2% 0.0% 2,820
$0-$1,382 17.2% 15.9% -1.3% -208,512
Adj. Gross Income
$146,400+ 0.0% 0.0% 0.0% 2,725
$99,794 - $146,400 0.0% 0.0% 0.0% 1,674
$66,090 - $99,794 0.1% 0.1% 0.0% 1,520
$1 - $66,090 2.0% 2.0% -0.1% -10,721
$0.00 9.5% 8.7% -0.8% -200,891
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, 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: 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, 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: 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.