Benefit Formula Changes

Reduce initial benefits by 5%

Projected effects on beneficiaries in 2070

Compare all options »

Table 1. Individual benefits 2070: Reduce benefits 5 percent versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total -5% 97% 0%
Sex
Female -5% 96% 0%
Male -5% 99% 0%
Race/Ethnicity
Hispanic -5% 98% 0%
White -5% 97% 0%
Black -5% 98% 0%
Other -5% 98% 0%
Immigration
Immigrant -5% 98% 0%
Native Born -5% 97% 0%
Age
60–69 -5% 97% 0%
70–79 -5% 97% 0%
80–89 -5% 97% 0%
90+ -5% 96% 0%
Marital Status
Never Married -5% 100% 0%
Married -5% 100% 0%
Divorced -5% 90% 0%
Widowed -5% 96% 0%
Education
Graduate -5% 98% 0%
Bachelor -5% 98% 0%
Associate -5% 96% 0%
High School -5% 97% 0%
Less than 12 Yrs -5% 98% 0%
Indiv. Income Quintile
$141,869+ -5% 98% 0%
$76,273 - $141,869 -5% 97% 0%
$47,225 - $76,273 -5% 97% 0%
$28,018 - $47,225 -5% 96% 0%
$0-$28,018 -5% 97% 0%
Hhld. Income Quintile
$234,849+ -5% 99% 0%
$125,659 - $234,849 -5% 99% 0%
$74,813 - $125,659 -5% 97% 0%
$41,558 - $74,813 -5% 96% 0%
$0-$41,558 -5% 95% 0%
Shared Earn. Quintile
$129,152+ -5% 99% 0%
$89,585 - $129,152 -5% 98% 0%
$63,685 - $89,585 -5% 97% 0%
$39,226 - $63,685 -5% 96% 0%
$0-$39,226 -5% 96% 0%
Benefit Type
Retired Worker -5% 100% 0%
Spousal & Worker -5% 100% 0%
Spousal Only -5% 99% 1%
Survivor & Worker -4% 79% 0%
Survivor Only -4% 78% 0%
Retired Disabled -5% 98% 0%
Disabled Worker -5% 99% 0%
Claiming Age
62 or younger -5% 97% 0%
63–66 -5% 98% 0%
67 or older -5% 97% 0%
Quarters of Coverage
201+ -5% 98% 0%
161–200 -5% 98% 0%
81–160 -5% 97% 0%
0–80 -5% 96% 0%
Own AIME Quintile
$11,030+ -5% 99% 0%
$7,326 - $11,030 -5% 99% 0%
$5,076 - $7,326 -5% 97% 0%
$2,910 - $5,076 -5% 96% 0%
$0-$2,910 -5% 95% 0%
Paying AIME Quintile
$12,519+ -5% 98% 0%
$8,545 - $12,519 -5% 97% 0%
$6,145 - $8,545 -5% 96% 0%
$3,923 - $6,145 -5% 97% 0%
$0-$3,923 -5% 98% 0%
Hhld. Benefit Quintile
$4,389+ -5% 100% 0%
$3,216 - $4,389 -5% 98% 0%
$2,435 - $3,216 -5% 96% 0%
$1,690 - $2,435 -5% 95% 0%
$0-$1,690 -5% 97% 0%
Adj. Gross Income
$181,671+ -5% 99% 0%
$123,969 - $181,671 -5% 99% 0%
$82,014 - $123,969 -5% 98% 0%
$1 - $82,014 -5% 97% 0%
$0.00 -5% 96% 0%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 11/27/2012
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: Reduce benefits 5 percent versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 23% 0% 100%
Sex
Female 23% 0% 100%
Male 23% 0% 100%
Race/Ethnicity
Hispanic 23% 0% 100%
White 23% 0% 100%
Black 23% 0% 100%
Other 23% 0% 100%
Immigration
Immigrant 23% 0% 100%
Native Born 23% 0% 100%
Age
60–69 23% 1% 99%
70–79 23% 0% 100%
80–89 23% 0% 100%
90+ 23% 0% 100%
Marital Status
Never Married 23% 0% 100%
Married 23% 0% 100%
Divorced 23% 0% 100%
Widowed 23% 0% 100%
Education
Graduate 23% 1% 99%
Bachelor 23% 0% 100%
Associate 23% 0% 100%
High School 23% 0% 100%
Less than 12 Yrs 23% 0% 100%
Indiv. Income Quintile
$141,869+ 23% 1% 99%
$76,273 - $141,869 23% 1% 99%
$47,225 - $76,273 23% 0% 100%
$28,018 - $47,225 23% 0% 100%
$0-$28,018 23% 0% 100%
Hhld. Income Quintile
$234,849+ 23% 1% 99%
$125,659 - $234,849 23% 0% 100%
$74,813 - $125,659 23% 0% 100%
$41,558 - $74,813 23% 0% 100%
$0-$41,558 23% 0% 100%
Shared Earn. Quintile
$129,152+ 23% 0% 100%
$89,585 - $129,152 23% 0% 100%
$63,685 - $89,585 23% 0% 100%
$39,226 - $63,685 23% 0% 100%
$0-$39,226 23% 0% 100%
Benefit Type
Retired Worker 23% 0% 100%
Spousal & Worker 23% 0% 100%
Spousal Only 23% 1% 99%
Survivor & Worker 23% 0% 100%
Survivor Only 23% 1% 99%
Retired Disabled 23% 0% 100%
Disabled Worker 23% 0% 100%
Claiming Age
62 or younger 23% 0% 100%
63–66 23% 1% 99%
67 or older 23% 0% 100%
Quarters of Coverage
201+ 23% 1% 99%
161–200 23% 0% 100%
81–160 23% 0% 100%
0–80 23% 0% 100%
Own AIME Quintile
$11,030+ 23% 0% 100%
$7,326 - $11,030 23% 0% 100%
$5,076 - $7,326 23% 0% 100%
$2,910 - $5,076 23% 0% 100%
$0-$2,910 23% 0% 100%
Paying AIME Quintile
$12,519+ 23% 0% 100%
$8,545 - $12,519 23% 0% 100%
$6,145 - $8,545 23% 0% 100%
$3,923 - $6,145 23% 0% 100%
$0-$3,923 23% 0% 100%
Hhld. Benefit Quintile
$4,389+ 23% 0% 100%
$3,216 - $4,389 23% 0% 100%
$2,435 - $3,216 23% 0% 100%
$1,690 - $2,435 23% 0% 100%
$0-$1,690 23% 1% 99%
Adj. Gross Income
$181,671+ 23% 1% 99%
$123,969 - $181,671 23% 0% 100%
$82,014 - $123,969 23% 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: 11/27/2012
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: Reduce benefits 5 percent 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% 0% 97% 3% 0% 0% 0%
Sex
Female 0% 0% 95% 4% 0% 0% 0%
Male 0% 0% 98% 1% 0% 0% 0%
Race/Ethnicity
Hispanic 0% 0% 97% 2% 0% 0% 0%
White 0% 0% 96% 3% 0% 0% 0%
Black 0% 0% 97% 2% 0% 0% 0%
Other 0% 0% 98% 2% 0% 0% 0%
Immigration
Immigrant 0% 0% 97% 2% 0% 0% 0%
Native Born 0% 0% 96% 3% 0% 0% 0%
Age
60–69 1% 1% 95% 3% 0% 0% 0%
70–79 0% 0% 97% 3% 0% 0% 0%
80–89 0% 0% 97% 3% 0% 0% 0%
90+ 0% 0% 96% 4% 0% 0% 0%
Marital Status
Never Married 0% 0% 99% 0% 0% 0% 0%
Married 1% 0% 99% 0% 0% 0% 0%
Divorced 0% 0% 89% 10% 0% 0% 0%
Widowed 0% 0% 96% 4% 0% 0% 0%
Education
Graduate 1% 0% 97% 2% 0% 0% 0%
Bachelor 0% 0% 97% 2% 0% 0% 0%
Associate 0% 0% 96% 4% 0% 0% 0%
High School 0% 0% 96% 3% 0% 0% 0%
Less than 12 Yrs 0% 0% 97% 2% 0% 0% 0%
Indiv. Income Quintile
$141,869+ 1% 1% 97% 2% 0% 0% 0%
$76,273 - $141,869 1% 1% 96% 3% 0% 0% 0%
$47,225 - $76,273 0% 0% 96% 3% 0% 0% 0%
$28,018 - $47,225 0% 0% 96% 4% 0% 0% 0%
$0-$28,018 0% 0% 97% 3% 0% 0% 0%
Hhld. Income Quintile
$234,849+ 1% 1% 97% 1% 0% 0% 0%
$125,659 - $234,849 1% 0% 98% 1% 0% 0% 0%
$74,813 - $125,659 0% 0% 97% 3% 0% 0% 0%
$41,558 - $74,813 0% 0% 96% 4% 0% 0% 0%
$0-$41,558 0% 0% 95% 5% 0% 0% 0%
Shared Earn. Quintile
$129,152+ 1% 1% 98% 1% 0% 0% 0%
$89,585 - $129,152 0% 0% 97% 2% 0% 0% 0%
$63,685 - $89,585 0% 0% 96% 3% 0% 0% 0%
$39,226 - $63,685 0% 0% 95% 4% 0% 0% 0%
$0-$39,226 0% 0% 96% 4% 0% 0% 0%
Benefit Type
Retired Worker 1% 0% 99% 0% 0% 0% 0%
Spousal & Worker 0% 0% 99% 0% 0% 0% 0%
Spousal Only 1% 2% 96% 0% 0% 0% 1%
Survivor & Worker 0% 0% 79% 21% 0% 0% 0%
Survivor Only 2% 1% 75% 22% 0% 0% 0%
Retired Disabled 0% 0% 98% 2% 0% 0% 0%
Disabled Worker 0% 0% 99% 1% 0% 0% 0%
Claiming Age
62 or younger 0% 0% 96% 3% 0% 0% 0%
63–66 1% 0% 97% 2% 0% 0% 0%
67 or older 0% 0% 97% 3% 0% 0% 0%
Quarters of Coverage
201+ 1% 1% 97% 2% 0% 0% 0%
161–200 0% 0% 97% 2% 0% 0% 0%
81–160 0% 0% 96% 3% 0% 0% 0%
0–80 0% 0% 95% 4% 0% 0% 0%
Own AIME Quintile
$11,030+ 1% 0% 98% 1% 0% 0% 0%
$7,326 - $11,030 0% 0% 98% 1% 0% 0% 0%
$5,076 - $7,326 0% 0% 97% 3% 0% 0% 0%
$2,910 - $5,076 0% 0% 95% 4% 0% 0% 0%
$0-$2,910 0% 0% 94% 5% 0% 0% 0%
Paying AIME Quintile
$12,519+ 1% 0% 97% 2% 0% 0% 0%
$8,545 - $12,519 0% 0% 96% 3% 0% 0% 0%
$6,145 - $8,545 0% 0% 96% 4% 0% 0% 0%
$3,923 - $6,145 0% 0% 96% 3% 0% 0% 0%
$0-$3,923 0% 0% 97% 2% 0% 0% 0%
Hhld. Benefit Quintile
$4,389+ 0% 0% 99% 0% 0% 0% 0%
$3,216 - $4,389 0% 0% 98% 2% 0% 0% 0%
$2,435 - $3,216 0% 0% 96% 3% 0% 0% 0%
$1,690 - $2,435 0% 0% 95% 5% 0% 0% 0%
$0-$1,690 1% 0% 95% 3% 0% 0% 0%
Adj. Gross Income
$181,671+ 1% 1% 97% 1% 0% 0% 0%
$123,969 - $181,671 1% 0% 98% 1% 0% 0% 0%
$82,014 - $123,969 0% 0% 97% 2% 0% 0% 0%
$1 - $82,014 0% 0% 96% 3% 0% 0% 0%
$0.00 0% 0% 96% 4% 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: 11/27/2012
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: Reduce benefits 5 percent 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% 0% 99%
Sex
Female 0% 0% 0% 0% 0% 0% 99%
Male 0% 0% 0% 0% 0% 0% 99%
Race/Ethnicity
Hispanic 0% 0% 0% 0% 0% 0% 99%
White 0% 0% 0% 0% 0% 0% 99%
Black 0% 0% 0% 0% 0% 0% 99%
Other 0% 0% 0% 0% 0% 0% 99%
Immigration
Immigrant 0% 0% 0% 0% 0% 0% 99%
Native Born 0% 0% 0% 0% 0% 0% 99%
Age
60–69 0% 0% 0% 0% 1% 0% 98%
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% 99%
Married 0% 0% 0% 0% 0% 0% 99%
Divorced 0% 0% 0% 0% 0% 0% 99%
Widowed 0% 0% 0% 0% 0% 0% 100%
Education
Graduate 0% 0% 0% 0% 0% 0% 99%
Bachelor 0% 0% 0% 0% 0% 0% 99%
Associate 0% 0% 0% 0% 0% 0% 99%
High School 0% 0% 0% 0% 0% 0% 99%
Less than 12 Yrs 0% 0% 0% 0% 0% 0% 99%
Indiv. Income Quintile
$141,869+ 0% 0% 0% 0% 1% 0% 99%
$76,273 - $141,869 0% 0% 0% 0% 1% 0% 99%
$47,225 - $76,273 0% 0% 0% 0% 0% 0% 99%
$28,018 - $47,225 0% 0% 0% 0% 0% 0% 100%
$0-$28,018 0% 0% 0% 0% 0% 0% 100%
Hhld. Income Quintile
$234,849+ 0% 0% 0% 0% 1% 0% 98%
$125,659 - $234,849 0% 0% 0% 0% 0% 0% 99%
$74,813 - $125,659 0% 0% 0% 0% 0% 0% 99%
$41,558 - $74,813 0% 0% 0% 0% 0% 0% 100%
$0-$41,558 0% 0% 0% 0% 0% 0% 100%
Shared Earn. Quintile
$129,152+ 0% 0% 0% 0% 0% 0% 99%
$89,585 - $129,152 0% 0% 0% 0% 0% 0% 99%
$63,685 - $89,585 0% 0% 0% 0% 0% 0% 99%
$39,226 - $63,685 0% 0% 0% 0% 0% 0% 99%
$0-$39,226 0% 0% 0% 0% 0% 0% 100%
Benefit Type
Retired Worker 0% 0% 0% 0% 0% 0% 99%
Spousal & Worker 0% 0% 0% 0% 0% 1% 99%
Spousal Only 1% 0% 0% 0% 1% 2% 96%
Survivor & Worker 0% 0% 0% 0% 0% 1% 99%
Survivor Only 0% 1% 0% 0% 0% 1% 97%
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% 99%
63–66 0% 0% 0% 0% 0% 0% 99%
67 or older 0% 0% 0% 0% 0% 0% 99%
Quarters of Coverage
201+ 0% 0% 0% 0% 1% 0% 98%
161–200 0% 0% 0% 0% 0% 0% 99%
81–160 0% 0% 0% 0% 0% 0% 100%
0–80 0% 0% 0% 0% 0% 1% 99%
Own AIME Quintile
$11,030+ 0% 0% 0% 0% 0% 0% 99%
$7,326 - $11,030 0% 0% 0% 0% 0% 0% 99%
$5,076 - $7,326 0% 0% 0% 0% 0% 0% 99%
$2,910 - $5,076 0% 0% 0% 0% 0% 0% 99%
$0-$2,910 0% 0% 0% 0% 0% 0% 99%
Paying AIME Quintile
$12,519+ 0% 0% 0% 0% 0% 0% 99%
$8,545 - $12,519 0% 0% 0% 0% 0% 0% 99%
$6,145 - $8,545 0% 0% 0% 0% 0% 0% 99%
$3,923 - $6,145 0% 0% 0% 0% 0% 0% 99%
$0-$3,923 0% 0% 0% 0% 0% 0% 99%
Hhld. Benefit Quintile
$4,389+ 0% 0% 0% 0% 0% 0% 100%
$3,216 - $4,389 0% 0% 0% 0% 0% 0% 99%
$2,435 - $3,216 0% 0% 0% 0% 0% 0% 99%
$1,690 - $2,435 0% 0% 0% 0% 0% 0% 99%
$0-$1,690 0% 0% 0% 0% 1% 0% 98%
Adj. Gross Income
$181,671+ 0% 0% 0% 0% 1% 0% 98%
$123,969 - $181,671 0% 0% 0% 0% 0% 0% 99%
$82,014 - $123,969 0% 0% 0% 0% 0% 0% 99%
$1 - $82,014 0% 0% 0% 0% 0% 0% 99%
$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: 11/27/2012
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: Reduce benefits 5 percent versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.2% 1.3% 0.1% 126,806
Sex
Female 1.6% 1.8% 0.2% 89,872
Male 0.7% 0.8% 0.1% 36,933
Race/Ethnicity
Hispanic 1.7% 1.9% 0.2% 36,826
White 0.8% 0.9% 0.1% 52,185
Black 2.2% 2.5% 0.3% 29,445
Other 1.2% 1.3% 0.1% 8,347
Immigration
Immigrant 1.5% 1.7% 0.1% 29,284
Native Born 1.1% 1.2% 0.1% 97,521
Age
60–69 1.5% 1.7% 0.2% 45,570
70–79 1.1% 1.3% 0.1% 49,980
80–89 0.9% 1.0% 0.1% 28,683
90+ 0.7% 0.7% 0.0% 2,571
Marital Status
Never Married 3.4% 3.7% 0.4% 48,578
Married 0.4% 0.5% 0.0% 22,933
Divorced 1.5% 1.7% 0.2% 43,616
Widowed 1.2% 1.3% 0.1% 11,678
Education
Graduate 0.2% 0.3% 0.1% 6,728
Bachelor 0.4% 0.4% 0.0% 10,065
Associate 0.6% 0.7% 0.1% 24,608
High School 1.7% 1.9% 0.1% 45,023
Less than 12 Yrs 3.6% 4.1% 0.4% 40,380
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% 6.6% 0.7% 126,806
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% 6.6% 0.7% 126,806
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% 2,774
$0-$39,226 5.8% 6.4% 0.7% 124,032
Benefit Type
Retired Worker 1.1% 1.2% 0.1% 85,212
Spousal & Worker 0.1% 0.2% 0.1% 2,774
Spousal Only 2.4% 2.6% 0.2% 2,660
Survivor & Worker 0.3% 0.3% 0.0% 2,019
Survivor Only 5.0% 5.2% 0.2% 1,376
Retired Disabled 2.0% 2.1% 0.1% 11,767
Disabled Worker 2.3% 2.8% 0.4% 20,994
Claiming Age
62 or younger 1.8% 2.0% 0.2% 89,978
63–66 0.5% 0.6% 0.1% 31,555
67 or older 0.8% 0.9% 0.1% 5,271
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.0% 0.0% 0.0% 0
81–160 0.7% 0.8% 0.1% 49,549
0–80 7.8% 8.4% 0.7% 77,256
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% 2,652
$0-$2,910 5.8% 6.5% 0.7% 124,153
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% 6.5% 0.7% 124,032
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% 6.5% 0.7% 126,806
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% 1.1% 0.1% 14,106
$0.00 3.0% 3.4% 0.4% 112,699
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 11/27/2012
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: Reduce benefits 5 percent versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 2.3% 1.3% -1.0% -937,793
Sex
Female 3.0% 1.8% -1.2% -625,830
Male 1.5% 0.8% -0.7% -311,962
Race/Ethnicity
Hispanic 3.3% 1.9% -1.4% -285,581
White 1.5% 0.9% -0.7% -360,965
Black 4.6% 2.5% -2.1% -205,661
Other 2.1% 1.3% -0.9% -85,584
Immigration
Immigrant 3.0% 1.7% -1.3% -285,045
Native Born 2.1% 1.2% -0.9% -652,748
Age
60–69 2.9% 1.7% -1.2% -339,372
70–79 2.3% 1.3% -1.0% -358,129
80–89 1.9% 1.0% -0.9% -197,750
90+ 1.4% 0.7% -0.7% -42,541
Marital Status
Never Married 6.2% 3.7% -2.5% -334,551
Married 0.8% 0.5% -0.4% -187,687
Divorced 3.3% 1.7% -1.6% -295,123
Widowed 2.2% 1.3% -0.9% -120,432
Education
Graduate 0.7% 0.3% -0.4% -46,906
Bachelor 0.7% 0.4% -0.3% -60,963
Associate 1.7% 0.7% -1.0% -207,923
High School 3.3% 1.9% -1.4% -439,798
Less than 12 Yrs 6.1% 4.1% -2.0% -182,202
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% 6.6% -5.0% -937,793
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% 6.6% -5.0% -937,793
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% -0.2% -29,642
$0-$39,226 11.2% 6.4% -4.8% -905,489
Benefit Type
Retired Worker 2.2% 1.2% -0.9% -608,876
Spousal & Worker 0.5% 0.2% -0.3% -9,297
Spousal Only 4.0% 2.6% -1.4% -17,292
Survivor & Worker 0.8% 0.3% -0.4% -46,261
Survivor Only 6.5% 5.2% -1.4% -10,545
Retired Disabled 3.7% 2.1% -1.6% -142,416
Disabled Worker 4.9% 2.8% -2.1% -103,104
Claiming Age
62 or younger 3.5% 2.0% -1.5% -686,206
63–66 1.1% 0.6% -0.5% -208,744
67 or older 1.6% 0.9% -0.7% -42,843
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% 0.8% -1.3% -455,499
0–80 12.5% 8.4% -4.1% -457,427
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% -106,622
$0-$2,910 10.9% 6.5% -4.4% -829,502
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% 6.5% -4.8% -909,151
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% 6.5% -5.0% -937,793
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% 1.1% -0.6% -100,427
$0.00 6.1% 3.4% -2.7% -837,366
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 11/27/2012
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: 11/27/2012
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: 11/27/2012
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.