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Benefit Formula Changes

Reduce the 90%, 32%, and 15% PIA factors to 90%, 21%, and 10% over a 31-year period

Projected effects on beneficiaries in 2050

Compare all options »

Table 1. Individual benefits 2050: PIA Factors to 90 21 10 versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total -12% 93% 0%
Sex
Female -11% 91% 0%
Male -14% 95% 0%
Race/Ethnicity
Hispanic -11% 90% 0%
White -13% 94% 0%
Black -11% 90% 0%
Other -13% 92% 0%
Immigration
Immigrant -11% 90% 0%
Native Born -13% 94% 0%
Age
60–69 -16% 91% 0%
70–79 -14% 94% 0%
80–89 -10% 95% 0%
90+ -4% 86% 0%
Marital Status
Never Married -12% 89% 0%
Married -14% 95% 0%
Divorced -13% 93% 0%
Widowed -8% 91% 0%
Education
Graduate -15% 96% 0%
Bachelor -15% 96% 0%
Associate -12% 94% 0%
High School -11% 91% 0%
Less than 12 Yrs -9% 84% 0%
Indiv. Income Quintile
$118,077+ -15% 97% 0%
$63,076 - $118,077 -16% 98% 0%
$38,685 - $63,076 -14% 97% 0%
$23,078 - $38,685 -12% 95% 0%
$0-$23,078 -6% 78% 0%
Hhld. Income Quintile
$191,900+ -16% 97% 0%
$102,458 - $191,900 -15% 97% 0%
$60,945 - $102,458 -13% 96% 0%
$33,624 - $60,945 -11% 94% 0%
$0-$33,624 -6% 79% 0%
Shared Earn. Quintile
$106,162+ -17% 99% 0%
$74,636 - $106,162 -16% 98% 0%
$52,919 - $74,636 -14% 98% 0%
$32,782 - $52,919 -11% 97% 0%
$0-$32,782 -4% 73% 0%
Benefit Type
Retired Worker -14% 94% 0%
Spousal & Worker -16% 100% 0%
Spousal Only -11% 82% 1%
Survivor & Worker -9% 92% 0%
Survivor Only -7% 82% 0%
Retired Disabled -10% 87% 0%
Disabled Worker -11% 86% 0%
Claiming Age
62 or younger -11% 90% 0%
63–66 -13% 96% 0%
67 or older -12% 92% 0%
Quarters of Coverage
201+ -15% 99% 0%
161–200 -15% 99% 0%
81–160 -10% 94% 0%
0–80 -3% 64% 0%
Own AIME Quintile
$8,955+ -18% 99% 0%
$5,945 - $8,955 -17% 99% 0%
$4,095 - $5,945 -14% 98% 0%
$2,356 - $4,095 -9% 97% 0%
$0-$2,356 -4% 71% 0%
Paying AIME Quintile
$10,370+ -17% 98% 0%
$7,219 - $10,370 -16% 98% 0%
$5,128 - $7,219 -15% 98% 0%
$3,307 - $5,128 -12% 98% 0%
$0-$3,307 -4% 71% 0%
Hhld. Benefit Quintile
$3,486+ -18% 100% 0%
$2,564 - $3,486 -15% 99% 0%
$1,975 - $2,564 -13% 97% 0%
$1,382 - $1,975 -10% 95% 0%
$0-$1,382 -5% 73% 0%
Adj. Gross Income
$146,400+ -17% 98% 0%
$99,794 - $146,400 -15% 98% 0%
$66,090 - $99,794 -13% 96% 0%
$1 - $66,090 -11% 90% 0%
$0.00 -9% 88% 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: PIA Factors to 90 21 10 versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 11% 8% 86%
Sex
Female 13% 6% 90%
Male 9% 11% 82%
Race/Ethnicity
Hispanic 12% 6% 91%
White 11% 9% 85%
Black 13% 6% 89%
Other 10% 10% 85%
Immigration
Immigrant 12% 7% 89%
Native Born 11% 9% 86%
Age
60–69 6% 20% 70%
70–79 8% 5% 89%
80–89 14% 0% 100%
90+ 21% 0% 100%
Marital Status
Never Married 12% 7% 87%
Married 8% 11% 82%
Divorced 11% 8% 86%
Widowed 16% 2% 97%
Education
Graduate 8% 15% 78%
Bachelor 8% 14% 79%
Associate 11% 6% 88%
High School 13% 5% 91%
Less than 12 Yrs 15% 4% 93%
Indiv. Income Quintile
$118,077+ 7% 18% 74%
$63,076 - $118,077 7% 14% 77%
$38,685 - $63,076 9% 7% 86%
$23,078 - $38,685 12% 1% 96%
$0-$23,078 19% 0% 99%
Hhld. Income Quintile
$191,900+ 6% 19% 72%
$102,458 - $191,900 7% 13% 78%
$60,945 - $102,458 10% 6% 87%
$33,624 - $60,945 12% 2% 94%
$0-$33,624 19% 0% 99%
Shared Earn. Quintile
$106,162+ 5% 25% 66%
$74,636 - $106,162 7% 10% 79%
$52,919 - $74,636 9% 4% 91%
$32,782 - $52,919 13% 2% 97%
$0-$32,782 21% 1% 99%
Benefit Type
Retired Worker 9% 10% 83%
Spousal & Worker 7% 12% 81%
Spousal Only 13% 6% 88%
Survivor & Worker 15% 3% 94%
Survivor Only 17% 3% 96%
Retired Disabled 14% 2% 95%
Disabled Worker 13% 6% 88%
Claiming Age
62 or younger 12% 6% 89%
63–66 10% 11% 83%
67 or older 11% 6% 88%
Quarters of Coverage
201+ 7% 16% 76%
161–200 8% 11% 82%
81–160 14% 4% 92%
0–80 22% 3% 96%
Own AIME Quintile
$8,955+ 3% 30% 60%
$5,945 - $8,955 5% 3% 83%
$4,095 - $5,945 9% 3% 97%
$2,356 - $4,095 15% 2% 97%
$0-$2,356 22% 3% 96%
Paying AIME Quintile
$10,370+ 5% 27% 66%
$7,219 - $10,370 6% 9% 71%
$5,128 - $7,219 7% 2% 97%
$3,307 - $5,128 12% 2% 98%
$0-$3,307 22% 1% 99%
Hhld. Benefit Quintile
$3,486+ 4% 17% 71%
$2,564 - $3,486 8% 12% 80%
$1,975 - $2,564 11% 5% 88%
$1,382 - $1,975 13% 2% 97%
$0-$1,382 21% 5% 95%
Adj. Gross Income
$146,400+ 5% 21% 69%
$99,794 - $146,400 7% 12% 80%
$66,090 - $99,794 10% 9% 85%
$1 - $66,090 13% 4% 92%
$0.00 16% 2% 96%
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: PIA Factors to 90 21 10 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 17% 47% 29% 7% 0% 0% 0%
Sex
Female 13% 45% 34% 9% 0% 0% 0%
Male 22% 49% 23% 5% 0% 0% 0%
Race/Ethnicity
Hispanic 12% 47% 32% 10% 0% 0% 0%
White 19% 47% 28% 6% 0% 0% 0%
Black 14% 44% 32% 10% 0% 0% 0%
Other 19% 47% 25% 8% 0% 0% 0%
Immigration
Immigrant 14% 44% 32% 10% 0% 0% 0%
Native Born 18% 48% 28% 6% 0% 0% 0%
Age
60–69 34% 39% 18% 9% 0% 0% 0%
70–79 16% 59% 19% 6% 0% 0% 0%
80–89 0% 50% 45% 5% 0% 0% 0%
90+ 0% 2% 83% 14% 0% 0% 0%
Marital Status
Never Married 16% 43% 29% 11% 0% 0% 0%
Married 23% 51% 21% 5% 0% 0% 0%
Divorced 18% 47% 29% 7% 0% 0% 0%
Widowed 4% 38% 49% 9% 0% 0% 0%
Education
Graduate 27% 49% 20% 4% 0% 0% 0%
Bachelor 26% 49% 21% 4% 0% 0% 0%
Associate 15% 50% 30% 6% 0% 0% 0%
High School 11% 45% 35% 9% 0% 0% 0%
Less than 12 Yrs 9% 39% 35% 16% 0% 0% 0%
Indiv. Income Quintile
$118,077+ 31% 45% 22% 3% 0% 0% 0%
$63,076 - $118,077 29% 50% 19% 2% 0% 0% 0%
$38,685 - $63,076 19% 55% 23% 3% 0% 0% 0%
$23,078 - $38,685 7% 58% 30% 5% 0% 0% 0%
$0-$23,078 1% 26% 50% 22% 0% 0% 0%
Hhld. Income Quintile
$191,900+ 32% 46% 19% 3% 0% 0% 0%
$102,458 - $191,900 27% 51% 19% 3% 0% 0% 0%
$60,945 - $102,458 17% 55% 24% 4% 0% 0% 0%
$33,624 - $60,945 8% 52% 34% 6% 0% 0% 0%
$0-$33,624 1% 30% 48% 21% 0% 0% 0%
Shared Earn. Quintile
$106,162+ 39% 44% 15% 1% 0% 0% 0%
$74,636 - $106,162 28% 53% 17% 2% 0% 0% 0%
$52,919 - $74,636 13% 63% 22% 2% 0% 0% 0%
$32,782 - $52,919 4% 57% 36% 3% 0% 0% 0%
$0-$32,782 1% 18% 54% 27% 0% 0% 0%
Benefit Type
Retired Worker 21% 49% 24% 6% 0% 0% 0%
Spousal & Worker 25% 58% 16% 0% 0% 0% 0%
Spousal Only 15% 40% 27% 17% 0% 0% 1%
Survivor & Worker 7% 38% 47% 8% 0% 0% 0%
Survivor Only 4% 32% 46% 18% 0% 0% 0%
Retired Disabled 7% 44% 36% 13% 0% 0% 0%
Disabled Worker 15% 39% 32% 14% 0% 0% 0%
Claiming Age
62 or younger 14% 44% 32% 10% 0% 0% 0%
63–66 21% 50% 26% 4% 0% 0% 0%
67 or older 15% 49% 28% 8% 0% 0% 0%
Quarters of Coverage
201+ 28% 53% 17% 1% 0% 0% 0%
161–200 23% 55% 21% 1% 0% 0% 0%
81–160 11% 44% 40% 6% 0% 0% 0%
0–80 5% 23% 35% 36% 0% 0% 0%
Own AIME Quintile
$8,955+ 45% 42% 13% 1% 0% 0% 0%
$5,945 - $8,955 27% 56% 15% 1% 0% 0% 0%
$4,095 - $5,945 4% 73% 22% 2% 0% 0% 0%
$2,356 - $4,095 4% 44% 50% 3% 0% 0% 0%
$0-$2,356 6% 20% 45% 29% 0% 0% 0%
Paying AIME Quintile
$10,370+ 38% 43% 17% 2% 0% 0% 0%
$7,219 - $10,370 36% 45% 18% 2% 0% 0% 0%
$5,128 - $7,219 9% 70% 19% 2% 0% 0% 0%
$3,307 - $5,128 2% 68% 28% 2% 0% 0% 0%
$0-$3,307 1% 8% 62% 29% 0% 0% 0%
Hhld. Benefit Quintile
$3,486+ 36% 57% 6% 0% 0% 0% 0%
$2,564 - $3,486 25% 55% 19% 1% 0% 0% 0%
$1,975 - $2,564 15% 52% 30% 3% 0% 0% 0%
$1,382 - $1,975 5% 52% 39% 5% 0% 0% 0%
$0-$1,382 5% 17% 51% 26% 0% 0% 0%
Adj. Gross Income
$146,400+ 36% 49% 13% 1% 0% 0% 0%
$99,794 - $146,400 25% 53% 19% 2% 0% 0% 0%
$66,090 - $99,794 18% 54% 25% 4% 0% 0% 0%
$1 - $66,090 11% 45% 34% 10% 0% 0% 0%
$0.00 6% 40% 42% 12% 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: PIA Factors to 90 21 10 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 1% 1% 7% 5% 30% 37% 20%
Sex
Female 1% 1% 4% 4% 27% 39% 24%
Male 1% 1% 9% 7% 34% 34% 14%
Race/Ethnicity
Hispanic 1% 1% 4% 3% 29% 37% 24%
White 1% 1% 7% 6% 31% 37% 17%
Black 1% 0% 5% 5% 27% 38% 25%
Other 1% 1% 8% 6% 31% 32% 21%
Immigration
Immigrant 1% 1% 5% 4% 28% 35% 26%
Native Born 1% 1% 7% 6% 31% 37% 18%
Age
60–69 3% 2% 15% 10% 32% 21% 18%
70–79 0% 0% 5% 6% 45% 30% 14%
80–89 0% 0% 0% 0% 14% 68% 18%
90+ 0% 0% 0% 0% 0% 34% 66%
Marital Status
Never Married 1% 1% 5% 5% 28% 34% 25%
Married 1% 1% 9% 7% 36% 31% 14%
Divorced 1% 1% 7% 6% 31% 36% 19%
Widowed 0% 0% 1% 1% 16% 51% 30%
Education
Graduate 1% 1% 12% 7% 36% 30% 12%
Bachelor 1% 1% 11% 8% 35% 31% 12%
Associate 1% 1% 5% 5% 31% 39% 18%
High School 1% 1% 4% 4% 26% 41% 24%
Less than 12 Yrs 1% 1% 3% 3% 24% 34% 35%
Indiv. Income Quintile
$118,077+ 2% 1% 15% 8% 32% 31% 11%
$63,076 - $118,077 2% 2% 11% 9% 37% 31% 9%
$38,685 - $63,076 0% 0% 6% 7% 38% 36% 12%
$23,078 - $38,685 0% 0% 1% 3% 35% 45% 17%
$0-$23,078 0% 0% 0% 0% 9% 41% 49%
Hhld. Income Quintile
$191,900+ 2% 2% 15% 9% 34% 28% 10%
$102,458 - $191,900 2% 1% 11% 8% 37% 31% 10%
$60,945 - $102,458 1% 1% 5% 6% 37% 37% 13%
$33,624 - $60,945 0% 0% 2% 4% 30% 44% 20%
$0-$33,624 0% 0% 0% 0% 12% 42% 45%
Shared Earn. Quintile
$106,162+ 2% 1% 22% 9% 34% 26% 6%
$74,636 - $106,162 1% 1% 8% 11% 41% 31% 8%
$52,919 - $74,636 1% 1% 2% 5% 43% 39% 9%
$32,782 - $52,919 0% 0% 1% 1% 28% 53% 16%
$0-$32,782 0% 0% 0% 0% 5% 35% 59%
Benefit Type
Retired Worker 1% 1% 8% 6% 34% 35% 15%
Spousal & Worker 0% 1% 11% 8% 44% 30% 7%
Spousal Only 2% 1% 4% 5% 26% 29% 34%
Survivor & Worker 0% 0% 3% 2% 18% 48% 29%
Survivor Only 1% 0% 2% 1% 14% 40% 42%
Retired Disabled 0% 0% 2% 3% 24% 42% 29%
Disabled Worker 0% 0% 6% 7% 28% 27% 33%
Claiming Age
62 or younger 0% 0% 5% 5% 27% 37% 25%
63–66 2% 1% 8% 6% 33% 37% 14%
67 or older 0% 0% 6% 6% 32% 36% 20%
Quarters of Coverage
201+ 3% 2% 11% 8% 37% 33% 6%
161–200 1% 1% 9% 7% 39% 36% 7%
81–160 0% 0% 4% 4% 25% 43% 24%
0–80 0% 0% 2% 2% 13% 24% 59%
Own AIME Quintile
$8,955+ 2% 1% 27% 10% 32% 23% 4%
$5,945 - $8,955 1% 1% 1% 14% 50% 28% 6%
$4,095 - $5,945 1% 0% 1% 1% 48% 40% 9%
$2,356 - $4,095 0% 0% 2% 1% 10% 70% 17%
$0-$2,356 0% 0% 2% 2% 12% 21% 62%
Paying AIME Quintile
$10,370+ 2% 1% 24% 7% 31% 28% 8%
$7,219 - $10,370 1% 1% 7% 20% 35% 29% 8%
$5,128 - $7,219 1% 1% 1% 0% 57% 33% 7%
$3,307 - $5,128 1% 0% 1% 0% 28% 59% 11%
$0-$3,307 0% 0% 0% 0% 1% 35% 64%
Hhld. Benefit Quintile
$3,486+ 0% 0% 17% 12% 47% 22% 1%
$2,564 - $3,486 1% 1% 11% 8% 37% 36% 6%
$1,975 - $2,564 0% 1% 4% 6% 33% 41% 14%
$1,382 - $1,975 1% 1% 0% 0% 29% 49% 20%
$0-$1,382 3% 1% 1% 0% 4% 35% 56%
Adj. Gross Income
$146,400+ 2% 2% 17% 10% 39% 25% 5%
$99,794 - $146,400 1% 1% 9% 8% 39% 31% 10%
$66,090 - $99,794 1% 1% 7% 6% 34% 38% 13%
$1 - $66,090 1% 0% 3% 4% 27% 40% 25%
$0.00 0% 0% 2% 3% 21% 43% 33%
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: PIA Factors to 90 21 10 versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.9% 2.0% 0.1% 118,515
Sex
Female 2.4% 2.6% 0.1% 65,197
Male 1.3% 1.4% 0.1% 53,318
Race/Ethnicity
Hispanic 3.0% 3.2% 0.2% 30,743
White 1.2% 1.4% 0.1% 66,416
Black 3.9% 4.1% 0.2% 13,658
Other 2.2% 2.3% 0.1% 7,696
Immigration
Immigrant 2.9% 3.1% 0.1% 26,782
Native Born 1.6% 1.7% 0.1% 91,732
Age
60–69 2.4% 2.6% 0.2% 55,672
70–79 2.0% 2.1% 0.1% 42,964
80–89 1.4% 1.4% 0.1% 14,856
90+ 0.9% 1.0% 0.1% 5,021
Marital Status
Never Married 5.3% 5.7% 0.3% 28,996
Married 0.8% 0.9% 0.1% 36,231
Divorced 2.8% 3.0% 0.2% 34,226
Widowed 1.9% 2.0% 0.1% 19,060
Education
Graduate 0.6% 0.6% 0.0% 2,062
Bachelor 0.6% 0.7% 0.1% 9,321
Associate 1.3% 1.4% 0.1% 28,637
High School 2.6% 2.8% 0.2% 51,231
Less than 12 Yrs 6.3% 6.7% 0.4% 27,261
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% 10.3% 0.7% 118,515
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% 10.3% 0.7% 118,515
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% 2,661
$32,782 - $52,919 0.1% 0.2% 0.1% 17,150
$0-$32,782 9.4% 10.0% 0.6% 98,703
Benefit Type
Retired Worker 1.8% 2.0% 0.2% 96,994
Spousal & Worker 0.5% 0.6% 0.1% 2,794
Spousal Only 5.1% 5.1% 0.1% 554
Survivor & Worker 0.5% 0.6% 0.0% 3,151
Survivor Only 7.0% 7.4% 0.4% 3,907
Retired Disabled 2.7% 2.8% 0.0% 3,231
Disabled Worker 4.3% 4.5% 0.2% 7,882
Claiming Age
62 or younger 3.0% 3.2% 0.2% 95,647
63–66 0.8% 0.8% 0.1% 22,313
67 or older 1.3% 1.3% 0.0% 554
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.1% 0.2% 0.1% 18,858
81–160 1.4% 1.7% 0.3% 86,852
0–80 11.0% 11.2% 0.1% 12,804
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% 0.9% 0.4% 62,283
$0-$2,356 9.0% 9.4% 0.3% 56,231
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% 1,048
$5,128 - $7,219 0.0% 0.0% 0.0% 2,794
$3,307 - $5,128 0.2% 0.3% 0.1% 21,426
$0-$3,307 9.3% 9.9% 0.6% 93,245
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% 10.2% 0.7% 118,515
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% 0.1% 0.0% 0
$1 - $66,090 1.4% 1.4% 0.0% 6,156
$0.00 5.0% 5.4% 0.4% 112,358
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: PIA Factors to 90 21 10 versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 3.5% 2.0% -1.4% -1,156,240
Sex
Female 4.1% 2.6% -1.6% -695,922
Male 2.7% 1.4% -1.2% -460,317
Race/Ethnicity
Hispanic 5.2% 3.2% -2.0% -274,932
White 2.4% 1.4% -1.0% -532,545
Black 7.1% 4.1% -3.0% -257,964
Other 3.6% 2.3% -1.3% -90,798
Immigration
Immigrant 4.9% 3.1% -1.8% -338,337
Native Born 3.1% 1.7% -1.3% -817,902
Age
60–69 4.3% 2.6% -1.6% -428,905
70–79 3.7% 2.1% -1.6% -476,860
80–89 2.5% 1.4% -1.0% -204,090
90+ 1.9% 1.0% -0.9% -46,382
Marital Status
Never Married 9.1% 5.7% -3.4% -307,625
Married 1.5% 0.9% -0.6% -255,194
Divorced 5.0% 3.0% -2.1% -320,224
Widowed 3.7% 2.0% -1.7% -273,195
Education
Graduate 0.8% 0.6% -0.3% -23,456
Bachelor 1.2% 0.7% -0.5% -92,248
Associate 2.9% 1.4% -1.5% -284,492
High School 4.7% 2.8% -1.9% -518,872
Less than 12 Yrs 10.3% 6.7% -3.6% -237,170
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% 10.3% -7.2% -1,156,240
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% 10.3% -7.2% -1,156,240
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% 0.0% -6,410
$32,782 - $52,919 1.1% 0.2% -0.9% -145,974
$0-$32,782 16.2% 10.0% -6.2% -1,003,855
Benefit Type
Retired Worker 3.1% 2.0% -1.1% -607,960
Spousal & Worker 0.9% 0.6% -0.3% -9,964
Spousal Only 7.9% 5.1% -2.7% -27,501
Survivor & Worker 1.6% 0.6% -1.0% -114,966
Survivor Only 10.4% 7.4% -2.9% -26,937
Retired Disabled 5.6% 2.8% -2.8% -210,951
Disabled Worker 8.2% 4.5% -3.7% -157,958
Claiming Age
62 or younger 5.4% 3.2% -2.2% -858,545
63–66 1.6% 0.8% -0.7% -258,781
67 or older 2.0% 1.3% -0.7% -38,912
Quarters of Coverage
201+ 0.0% 0.0% 0.0% -1,903
161–200 0.5% 0.2% -0.3% -87,856
81–160 3.7% 1.7% -2.0% -598,462
0–80 16.0% 11.2% -4.8% -468,017
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% 0.9% -2.2% -360,843
$0-$2,356 14.1% 9.4% -4.7% -762,968
Paying AIME Quintile
$10,370+ 0.0% 0.0% 0.0% 0
$7,219 - $10,370 0.0% 0.0% 0.0% -3,831
$5,128 - $7,219 0.1% 0.0% -0.1% -11,565
$3,307 - $5,128 1.3% 0.3% -1.0% -161,016
$0-$3,307 15.9% 9.9% -6.0% -979,827
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% 10.2% -7.0% -1,127,150
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% 0.1% 0.0% -5,429
$1 - $66,090 2.0% 1.4% -0.6% -80,951
$0.00 9.5% 5.4% -4.0% -1,066,939
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.