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Cost of Living Adjustment Changes

Increase the Cost of Living Adjustment by basing it on the CPI-E

Projected effects on beneficiaries in 2070

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Table 1. Individual benefits 2070: CPI-E COLA versus Scheduled
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 2% 0% 82%
Sex
Female 2% 0% 83%
Male 2% 0% 81%
Race/Ethnicity
Hispanic 2% 0% 78%
White 2% 0% 83%
Black 2% 0% 81%
Other 2% 0% 82%
Immigration
Immigrant 2% 0% 82%
Native Born 2% 0% 82%
Age
60–69 0% 0% 41%
70–79 2% 0% 99%
80–89 4% 0% 100%
90+ 6% 0% 100%
Marital Status
Never Married 2% 0% 77%
Married 2% 0% 78%
Divorced 2% 0% 82%
Widowed 4% 0% 97%
Education
Graduate 2% 0% 85%
Bachelor 2% 0% 83%
Associate 2% 0% 81%
High School 2% 0% 81%
Less than 12 Yrs 2% 0% 78%
Indiv. Income Quintile
$141,869+ 3% 0% 85%
$76,273 - $141,869 2% 0% 80%
$47,225 - $76,273 2% 0% 80%
$28,018 - $47,225 2% 0% 81%
$0-$28,018 2% 0% 82%
Hhld. Income Quintile
$234,849+ 2% 0% 82%
$125,659 - $234,849 2% 0% 78%
$74,813 - $125,659 2% 0% 81%
$41,558 - $74,813 2% 0% 83%
$0-$41,558 2% 0% 85%
Shared Earn. Quintile
$129,152+ 2% 0% 84%
$89,585 - $129,152 2% 0% 82%
$63,685 - $89,585 2% 0% 81%
$39,226 - $63,685 2% 0% 81%
$0-$39,226 2% 0% 81%
Benefit Type
Retired Worker 2% 0% 79%
Spousal & Worker 2% 0% 86%
Spousal Only 2% 0% 88%
Survivor & Worker 4% 0% 95%
Survivor Only 4% 0% 93%
Retired Disabled 3% 0% 98%
Disabled Worker 1% 0% 52%
Claiming Age
62 or younger 2% 0% 78%
63–66 2% 0% 83%
67 or older 3% 0% 98%
Quarters of Coverage
201+ 2% 0% 85%
161–200 2% 0% 80%
81–160 2% 0% 80%
0–80 3% 0% 86%
Own AIME Quintile
$11,030+ 2% 0% 83%
$7,326 - $11,030 2% 0% 82%
$5,076 - $7,326 2% 0% 81%
$2,910 - $5,076 2% 0% 80%
$0-$2,910 2% 0% 81%
Paying AIME Quintile
$12,519+ 2% 0% 86%
$8,545 - $12,519 2% 0% 83%
$6,145 - $8,545 2% 0% 83%
$3,923 - $6,145 2% 0% 79%
$0-$3,923 2% 0% 77%
Hhld. Benefit Quintile
$4,389+ 2% 0% 85%
$3,216 - $4,389 2% 0% 83%
$2,435 - $3,216 2% 0% 83%
$1,690 - $2,435 2% 0% 81%
$0-$1,690 2% 0% 77%
Adj. Gross Income
$181,671+ 2% 0% 81%
$123,969 - $181,671 2% 0% 81%
$82,014 - $123,969 2% 0% 81%
$1 - $82,014 2% 0% 79%
$0.00 2% 0% 84%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: CPI-E COLA versus Payable
Characteristic Median Percent Change Percent With
Lower Benefits Higher Benefits
Total 33% 0% 100%
Sex
Female 33% 0% 100%
Male 33% 0% 100%
Race/Ethnicity
Hispanic 33% 0% 100%
White 33% 0% 100%
Black 33% 0% 100%
Other 33% 0% 100%
Immigration
Immigrant 33% 0% 100%
Native Born 33% 0% 100%
Age
60–69 31% 0% 100%
70–79 33% 0% 100%
80–89 35% 0% 100%
90+ 38% 0% 100%
Marital Status
Never Married 33% 0% 100%
Married 33% 0% 100%
Divorced 33% 0% 100%
Widowed 36% 0% 100%
Education
Graduate 33% 0% 100%
Bachelor 33% 0% 100%
Associate 33% 0% 100%
High School 33% 0% 100%
Less than 12 Yrs 33% 0% 100%
Indiv. Income Quintile
$141,869+ 34% 0% 100%
$76,273 - $141,869 33% 0% 100%
$47,225 - $76,273 33% 0% 100%
$28,018 - $47,225 33% 0% 100%
$0-$28,018 33% 0% 100%
Hhld. Income Quintile
$234,849+ 33% 0% 100%
$125,659 - $234,849 33% 0% 100%
$74,813 - $125,659 33% 0% 100%
$41,558 - $74,813 33% 0% 100%
$0-$41,558 34% 0% 100%
Shared Earn. Quintile
$129,152+ 33% 0% 100%
$89,585 - $129,152 33% 0% 100%
$63,685 - $89,585 33% 0% 100%
$39,226 - $63,685 33% 0% 100%
$0-$39,226 33% 0% 100%
Benefit Type
Retired Worker 33% 0% 100%
Spousal & Worker 33% 0% 100%
Spousal Only 33% 0% 100%
Survivor & Worker 35% 0% 100%
Survivor Only 36% 0% 100%
Retired Disabled 34% 0% 100%
Disabled Worker 31% 0% 100%
Claiming Age
62 or younger 33% 0% 100%
63–66 33% 0% 100%
67 or older 34% 0% 100%
Quarters of Coverage
201+ 33% 0% 100%
161–200 33% 0% 100%
81–160 33% 0% 100%
0–80 34% 0% 100%
Own AIME Quintile
$11,030+ 33% 0% 100%
$7,326 - $11,030 33% 0% 100%
$5,076 - $7,326 33% 0% 100%
$2,910 - $5,076 33% 0% 100%
$0-$2,910 33% 0% 100%
Paying AIME Quintile
$12,519+ 34% 0% 100%
$8,545 - $12,519 33% 0% 100%
$6,145 - $8,545 33% 0% 100%
$3,923 - $6,145 33% 0% 100%
$0-$3,923 33% 0% 100%
Hhld. Benefit Quintile
$4,389+ 33% 0% 100%
$3,216 - $4,389 33% 0% 100%
$2,435 - $3,216 33% 0% 100%
$1,690 - $2,435 34% 0% 100%
$0-$1,690 33% 0% 100%
Adj. Gross Income
$181,671+ 33% 0% 100%
$123,969 - $181,671 33% 0% 100%
$82,014 - $123,969 33% 0% 100%
$1 - $82,014 33% 0% 100%
$0.00 34% 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: 03/05/2014
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: CPI-E COLA 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% 0% 18% 81% 0% 0%
Sex
Female 0% 0% 0% 17% 82% 0% 0%
Male 0% 0% 0% 19% 80% 0% 0%
Race/Ethnicity
Hispanic 0% 0% 0% 22% 78% 0% 0%
White 0% 0% 0% 17% 83% 0% 0%
Black 0% 0% 0% 19% 80% 1% 0%
Other 0% 0% 0% 18% 82% 0% 0%
Immigration
Immigrant 0% 0% 0% 18% 81% 0% 0%
Native Born 0% 0% 0% 18% 81% 0% 0%
Age
60–69 0% 0% 0% 59% 41% 0% 0%
70–79 0% 0% 0% 1% 99% 0% 0%
80–89 0% 0% 0% 0% 99% 1% 0%
90+ 0% 0% 0% 0% 98% 1% 0%
Marital Status
Never Married 0% 0% 0% 23% 77% 0% 0%
Married 0% 0% 0% 22% 78% 0% 0%
Divorced 0% 0% 0% 18% 81% 1% 0%
Widowed 0% 0% 0% 3% 96% 1% 0%
Education
Graduate 0% 0% 0% 15% 84% 0% 0%
Bachelor 0% 0% 0% 17% 82% 0% 0%
Associate 0% 0% 0% 19% 81% 0% 0%
High School 0% 0% 0% 19% 81% 0% 0%
Less than 12 Yrs 0% 0% 0% 22% 78% 0% 0%
Indiv. Income Quintile
$141,869+ 0% 0% 0% 15% 85% 0% 0%
$76,273 - $141,869 0% 0% 0% 20% 79% 0% 0%
$47,225 - $76,273 0% 0% 0% 20% 79% 0% 0%
$28,018 - $47,225 0% 0% 0% 19% 81% 0% 0%
$0-$28,018 0% 0% 0% 18% 82% 1% 0%
Hhld. Income Quintile
$234,849+ 0% 0% 0% 18% 82% 0% 0%
$125,659 - $234,849 0% 0% 0% 22% 78% 0% 0%
$74,813 - $125,659 0% 0% 0% 19% 81% 0% 0%
$41,558 - $74,813 0% 0% 0% 17% 82% 0% 0%
$0-$41,558 0% 0% 0% 15% 84% 1% 0%
Shared Earn. Quintile
$129,152+ 0% 0% 0% 16% 83% 0% 0%
$89,585 - $129,152 0% 0% 0% 18% 82% 0% 0%
$63,685 - $89,585 0% 0% 0% 19% 80% 0% 0%
$39,226 - $63,685 0% 0% 0% 19% 80% 0% 0%
$0-$39,226 0% 0% 0% 19% 81% 1% 0%
Benefit Type
Retired Worker 0% 0% 0% 21% 79% 0% 0%
Spousal & Worker 0% 0% 0% 14% 86% 0% 0%
Spousal Only 0% 0% 0% 12% 87% 1% 0%
Survivor & Worker 0% 0% 0% 5% 94% 1% 0%
Survivor Only 0% 0% 0% 7% 89% 2% 2%
Retired Disabled 0% 0% 0% 2% 96% 2% 0%
Disabled Worker 0% 0% 0% 48% 52% 0% 0%
Claiming Age
62 or younger 0% 0% 0% 22% 77% 1% 0%
63–66 0% 0% 0% 17% 83% 0% 0%
67 or older 0% 0% 0% 2% 97% 0% 0%
Quarters of Coverage
201+ 0% 0% 0% 15% 85% 0% 0%
161–200 0% 0% 0% 20% 80% 0% 0%
81–160 0% 0% 0% 20% 80% 0% 0%
0–80 0% 0% 0% 14% 84% 2% 0%
Own AIME Quintile
$11,030+ 0% 0% 0% 17% 83% 0% 0%
$7,326 - $11,030 0% 0% 0% 18% 82% 0% 0%
$5,076 - $7,326 0% 0% 0% 19% 81% 0% 0%
$2,910 - $5,076 0% 0% 0% 20% 80% 1% 0%
$0-$2,910 0% 0% 0% 19% 81% 1% 0%
Paying AIME Quintile
$12,519+ 0% 0% 0% 14% 85% 0% 0%
$8,545 - $12,519 0% 0% 0% 17% 83% 0% 0%
$6,145 - $8,545 0% 0% 0% 17% 83% 0% 0%
$3,923 - $6,145 0% 0% 0% 21% 79% 0% 0%
$0-$3,923 0% 0% 0% 23% 76% 1% 0%
Hhld. Benefit Quintile
$4,389+ 0% 0% 0% 15% 85% 0% 0%
$3,216 - $4,389 0% 0% 0% 17% 82% 0% 0%
$2,435 - $3,216 0% 0% 0% 17% 83% 0% 0%
$1,690 - $2,435 0% 0% 0% 19% 81% 0% 0%
$0-$1,690 0% 0% 0% 23% 76% 1% 0%
Adj. Gross Income
$181,671+ 0% 0% 0% 19% 81% 0% 0%
$123,969 - $181,671 0% 0% 0% 19% 81% 0% 0%
$82,014 - $123,969 0% 0% 0% 19% 81% 0% 0%
$1 - $82,014 0% 0% 0% 21% 79% 0% 0%
$0.00 0% 0% 0% 16% 83% 1% 0%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: CPI-E COLA 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% 100%
Sex
Female 0% 0% 0% 0% 0% 0% 100%
Male 0% 0% 0% 0% 0% 0% 100%
Race/Ethnicity
Hispanic 0% 0% 0% 0% 0% 0% 100%
White 0% 0% 0% 0% 0% 0% 100%
Black 0% 0% 0% 0% 0% 0% 100%
Other 0% 0% 0% 0% 0% 0% 100%
Immigration
Immigrant 0% 0% 0% 0% 0% 0% 100%
Native Born 0% 0% 0% 0% 0% 0% 100%
Age
60–69 0% 0% 0% 0% 0% 0% 100%
70–79 0% 0% 0% 0% 0% 0% 100%
80–89 0% 0% 0% 0% 0% 0% 100%
90+ 0% 0% 0% 0% 0% 0% 100%
Marital Status
Never Married 0% 0% 0% 0% 0% 0% 100%
Married 0% 0% 0% 0% 0% 0% 100%
Divorced 0% 0% 0% 0% 0% 0% 100%
Widowed 0% 0% 0% 0% 0% 0% 100%
Education
Graduate 0% 0% 0% 0% 0% 0% 100%
Bachelor 0% 0% 0% 0% 0% 0% 100%
Associate 0% 0% 0% 0% 0% 0% 100%
High School 0% 0% 0% 0% 0% 0% 100%
Less than 12 Yrs 0% 0% 0% 0% 0% 0% 100%
Indiv. Income Quintile
$141,869+ 0% 0% 0% 0% 0% 0% 100%
$76,273 - $141,869 0% 0% 0% 0% 0% 0% 100%
$47,225 - $76,273 0% 0% 0% 0% 0% 0% 100%
$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% 0% 0% 100%
$125,659 - $234,849 0% 0% 0% 0% 0% 0% 100%
$74,813 - $125,659 0% 0% 0% 0% 0% 0% 100%
$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% 100%
$89,585 - $129,152 0% 0% 0% 0% 0% 0% 100%
$63,685 - $89,585 0% 0% 0% 0% 0% 0% 100%
$39,226 - $63,685 0% 0% 0% 0% 0% 0% 100%
$0-$39,226 0% 0% 0% 0% 0% 0% 100%
Benefit Type
Retired Worker 0% 0% 0% 0% 0% 0% 100%
Spousal & Worker 0% 0% 0% 0% 0% 0% 100%
Spousal Only 0% 0% 0% 0% 0% 0% 100%
Survivor & Worker 0% 0% 0% 0% 0% 0% 100%
Survivor Only 0% 0% 0% 0% 0% 0% 100%
Retired Disabled 0% 0% 0% 0% 0% 0% 100%
Disabled Worker 0% 0% 0% 0% 0% 0% 100%
Claiming Age
62 or younger 0% 0% 0% 0% 0% 0% 100%
63–66 0% 0% 0% 0% 0% 0% 100%
67 or older 0% 0% 0% 0% 0% 0% 100%
Quarters of Coverage
201+ 0% 0% 0% 0% 0% 0% 100%
161–200 0% 0% 0% 0% 0% 0% 100%
81–160 0% 0% 0% 0% 0% 0% 100%
0–80 0% 0% 0% 0% 0% 0% 100%
Own AIME Quintile
$11,030+ 0% 0% 0% 0% 0% 0% 100%
$7,326 - $11,030 0% 0% 0% 0% 0% 0% 100%
$5,076 - $7,326 0% 0% 0% 0% 0% 0% 100%
$2,910 - $5,076 0% 0% 0% 0% 0% 0% 100%
$0-$2,910 0% 0% 0% 0% 0% 0% 100%
Paying AIME Quintile
$12,519+ 0% 0% 0% 0% 0% 0% 100%
$8,545 - $12,519 0% 0% 0% 0% 0% 0% 100%
$6,145 - $8,545 0% 0% 0% 0% 0% 0% 100%
$3,923 - $6,145 0% 0% 0% 0% 0% 0% 100%
$0-$3,923 0% 0% 0% 0% 0% 0% 100%
Hhld. Benefit Quintile
$4,389+ 0% 0% 0% 0% 0% 0% 100%
$3,216 - $4,389 0% 0% 0% 0% 0% 0% 100%
$2,435 - $3,216 0% 0% 0% 0% 0% 0% 100%
$1,690 - $2,435 0% 0% 0% 0% 0% 0% 100%
$0-$1,690 0% 0% 0% 0% 0% 0% 100%
Adj. Gross Income
$181,671+ 0% 0% 0% 0% 0% 0% 100%
$123,969 - $181,671 0% 0% 0% 0% 0% 0% 100%
$82,014 - $123,969 0% 0% 0% 0% 0% 0% 100%
$1 - $82,014 0% 0% 0% 0% 0% 0% 100%
$0.00 0% 0% 0% 0% 0% 0% 100%
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: CPI-E COLA versus Scheduled
Characteristic Poverty Rate # of Poor Change
Scheduled Option Diff
Total 1.2% 1.1% -0.1% -79,772
Sex
Female 1.6% 1.5% -0.1% -61,151
Male 0.7% 0.6% 0.0% -18,621
Race/Ethnicity
Hispanic 1.7% 1.6% -0.1% -17,031
White 0.8% 0.7% -0.1% -28,762
Black 2.2% 1.9% -0.3% -29,364
Other 1.2% 1.1% 0.0% -4,613
Immigration
Immigrant 1.5% 1.5% -0.1% -17,503
Native Born 1.1% 1.0% -0.1% -62,268
Age
60–69 1.5% 1.4% -0.1% -26,737
70–79 1.1% 1.1% -0.1% -26,569
80–89 0.9% 0.8% -0.1% -20,475
90+ 0.7% 0.6% -0.1% -5,989
Marital Status
Never Married 3.4% 3.1% -0.3% -38,932
Married 0.4% 0.4% 0.0% -11,397
Divorced 1.5% 1.4% -0.1% -18,769
Widowed 1.2% 1.1% -0.1% -10,673
Education
Graduate 0.2% 0.2% 0.0% -2,661
Bachelor 0.4% 0.4% 0.0% -4,484
Associate 0.6% 0.6% 0.0% -9,747
High School 1.7% 1.6% -0.1% -33,519
Less than 12 Yrs 3.6% 3.3% -0.3% -29,360
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% 5.5% -0.4% -79,772
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% 5.5% -0.4% -79,772
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% 0.0% 0.0% -1,952
$0-$39,226 5.8% 5.4% -0.4% -77,819
Benefit Type
Retired Worker 1.1% 1.1% 0.0% -29,650
Spousal & Worker 0.1% 0.1% 0.0% 0
Spousal Only 2.4% 2.4% 0.0% 0
Survivor & Worker 0.3% 0.2% 0.0% -4,189
Survivor Only 5.0% 5.0% 0.0% 0
Retired Disabled 2.0% 1.7% -0.3% -26,614
Disabled Worker 2.3% 1.9% -0.4% -19,318
Claiming Age
62 or younger 1.8% 1.7% -0.1% -66,346
63–66 0.5% 0.5% 0.0% -9,836
67 or older 0.8% 0.7% -0.1% -3,588
Quarters of Coverage
201+ 0.0% 0.0% 0.0% 0
161–200 0.0% 0.0% 0.0% 0
81–160 0.7% 0.6% -0.1% -21,428
0–80 7.8% 7.2% -0.5% -58,344
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% -1,522
$0-$2,910 5.8% 5.4% -0.4% -78,249
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% 0
$3,923 - $6,145 0.0% 0.0% 0.0% 0
$0-$3,923 5.8% 5.4% -0.4% -79,772
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% 5.4% -0.4% -79,772
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% 0.9% 0.0% -3,743
$0.00 3.0% 2.8% -0.2% -76,028
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: CPI-E COLA versus Payable
Characteristic Poverty Rate # of Poor Change
Payable Option Diff
Total 2.3% 1.1% -1.2% -1,144,372
Sex
Female 3.0% 1.5% -1.5% -776,854
Male 1.5% 0.6% -0.8% -367,517
Race/Ethnicity
Hispanic 3.3% 1.6% -1.7% -339,440
White 1.5% 0.7% -0.8% -441,913
Black 4.6% 1.9% -2.6% -264,471
Other 2.1% 1.1% -1.0% -98,546
Immigration
Immigrant 3.0% 1.5% -1.5% -331,833
Native Born 2.1% 1.0% -1.1% -812,538
Age
60–69 2.9% 1.4% -1.4% -411,680
70–79 2.3% 1.1% -1.2% -434,679
80–89 1.9% 0.8% -1.1% -246,909
90+ 1.4% 0.6% -0.8% -51,102
Marital Status
Never Married 6.2% 3.1% -3.1% -422,061
Married 0.8% 0.4% -0.5% -222,017
Divorced 3.3% 1.4% -1.9% -357,509
Widowed 2.2% 1.1% -1.0% -142,783
Education
Graduate 0.7% 0.2% -0.5% -56,295
Bachelor 0.7% 0.4% -0.3% -75,512
Associate 1.7% 0.6% -1.1% -242,279
High School 3.3% 1.6% -1.7% -518,341
Less than 12 Yrs 6.1% 3.3% -2.8% -251,942
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% 5.5% -6.1% -1,144,372
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% 5.5% -6.1% -1,144,372
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% 0.0% -0.2% -34,369
$0-$39,226 11.2% 5.4% -5.9% -1,107,341
Benefit Type
Retired Worker 2.2% 1.1% -1.1% -723,739
Spousal & Worker 0.5% 0.1% -0.3% -12,071
Spousal Only 4.0% 2.4% -1.6% -19,953
Survivor & Worker 0.8% 0.2% -0.5% -52,469
Survivor Only 6.5% 5.0% -1.5% -11,921
Retired Disabled 3.7% 1.7% -2.1% -180,798
Disabled Worker 4.9% 1.9% -3.0% -143,417
Claiming Age
62 or younger 3.5% 1.7% -1.8% -842,531
63–66 1.1% 0.5% -0.6% -250,137
67 or older 1.6% 0.7% -0.9% -51,703
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% 0.6% -1.5% -526,477
0–80 12.5% 7.2% -5.3% -593,027
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% -110,797
$0-$2,910 10.9% 5.4% -5.5% -1,031,904
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% -0.1% -10,475
$3,923 - $6,145 0.1% 0.0% -0.1% -20,940
$0-$3,923 11.3% 5.4% -5.9% -1,112,956
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% 5.4% -6.1% -1,144,372
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% 0.9% -0.7% -118,276
$0.00 6.1% 2.8% -3.3% -1,026,095
Population: current law beneficiaries aged 60 and older
Source: SSA's Office of Retirement Policy, using MINT 6/TR11 Assumptions/SSMBA 4. Run: 03/05/2014
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: 03/05/2014
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: 03/05/2014
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.