| Number |
Table and graph selection |
| B1 |
Increase the number of years used to calculate benefits for retirees
and survivors (but not for disabled workers) from 35 to 38, phased in
2009-2013.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
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| B2 |
Increase the number of years used to calculate benefits for retirees
and survivors (but not for disabled workers) from 35 to 40, phased in
2009-2017.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
|
| B3 |
For each year from 2009-2039, multiply the 32 and 15 percent
formula factors by 0.987, reducing the factors to 21 percent
and 10 percent respectively,
for new eligibles in 2039 and later.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
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| B4 |
Reduce benefits by 3 percent for those newly eligible
for benefits in 2009 and later.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
|
| B5 |
Reduce benefits by 5 percent for those newly eligible
for benefits in 2009 and later.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
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| B6 |
Beginning with those newly eligible for OASDI benefits in 2015 and
later, reduce PIA formula factors so that benefits grow by inflation
rather than by increases in real wages.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
|
| B7 |
Progressive price indexing of PIA formula factors beginning with
individuals newly eligible for OASDI benefits in 2015. Create new bend
point at the 30th percentile of earners. Maintain current-law benefits
for earners at the 30th percentile and below and reduce upper 2 formula
factors (32% and 15%) such that maximum worker benefit grows by
inflation rather than the growth in average wages.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
|
| B8 |
Progressive price indexing of PIA formula factors beginning with
individuals newly eligible for OASDI benefits in 2015. Create new bend
point at the 40th percentile of earners. Maintain current-law benefits
for earners at the 40th percentile and below and reduce upper 2 formula
factors (32% and 15%) such that maximum worker benefit grows by
inflation rather than the growth in average wages.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
|
| B9 |
Progressive price indexing of PIA formula factors beginning with
individuals newly eligible for OASDI benefits in 2015. Create new bend
point at the 50th percentile of earners. Maintain current-law benefits
for earners at the 50th percentile and below and reduce upper 2 formula
factors (32% and 15%) such that maximum worker benefit grows by
inflation rather than the growth in average wages.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
|
| B10 |
Progressive price indexing of PIA formula factors beginning with
individuals newly eligible for OASDI benefits in 2015. Create new bend
point at the 60th percentile of earners. Maintain current-law benefits
for earners at the 60th percentile and below and reduce upper 2 formula
factors (32% and 15%) such that maximum worker benefit grows by
inflation rather than the growth in average wages.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
|
| B11 |
Beginning with those newly eligible in 2016, multiply the 90 and 32
PIA factors each year by 0.9925 and 0.982, respectively.
Stop reductions in
2053. Beginning with those newly eligible in 2011, multiply the 15
factor by 0.982. Stop reduction of the 15 factor in 2048. DI will
have present law scheduled benefit and proportional reduction at
conversion to retired worker benefits at normal retirement age, based
on years of disability.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
Related memorandum
|
| B12 |
Progressive price indexing of PIA formula factors beginning with
individuals newly eligible for OASI benefits in 2015. Create new
bend point at the 30th percentile of earners. Maintain current-law
benefits for earners at the 30th percentile and below and reduce
upper 2 formula factors (32% and 15%) such that maximum worker
benefit grows by inflation rather than the growth in average wages.
Disability benefits are not affected by the proposal. Disabled
worker beneficiaries, upon attaining normal retirement age, would
be subject to a proportional reduction in benefits based on the
worker's years of disability.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
Related memorandum
|
| B13 |
For OASI beneficiaries becoming eligible for benefits in 2021 and
later, multiply the PIA factors by the ratio of life expectancy at
67 for 2016 to the life expectancy at age 67 for the 4th year prior
to the year of benefit eligibility. Unisex life expectancies, based
on period life tables, would be used as projected by SSA's Office
of the Chief Actuary. Disability benefits are not affected by the
proposal. Disabled worker beneficiaries, upon attaining normal
retirement age, would be subject to a proportional reduction in
benefits based on the worker's years of disability.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
Related memorandum
|
| B14 |
Progressive price indexing of PIA formula factors beginning with
individuals newly eligible for OASI benefits in 2016. Create new
bend point at the 30th percentile of earners. Maintain current-law
benefits for earners at the 30th percentile and below and reduce
upper 2 formula factors (32% and 15%) such that maximum worker
benefit grows by inflation rather than the growth in average
wages. Disability benefits are not affected by the proposal.
Disabled worker beneficiaries, upon attaining normal retirement
age, would be subject to a proportional reduction in benefits
based on the worker's years of disability.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
Related memorandum
|
| B15 |
Increase the PIA to a level such that a worker with 30 years
of earnings at the minimum wage level would receive an adjusted
PIA equal to 120 percent of the Federal poverty level for an
aged individual. This provision would take full effect for
all newly eligible OASDI workers in 2025, and would be phased
in for new eligible in 2016 through 2024. The percentage
increase in PIA would be lowered proportionately for those
with fewer than 30 years of earnings, down to no enhancement
for workers with 20 or fewer years of earnings. (Year-of-work
requirements are "scaled" for disabled workers based on their
years of potential work from age 22 to benefit eligibility).
The benefit enhancement percentage would be reduced
proportionately for workers with higher average indexed monthly
earnings (AIME), down to no enhancement for those with AIME
at least twice that of a 35-year steady minimum wage earner.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
Related memorandum
|
| B16 |
For all individuals becoming eligible for OASDI benefits in 2009
and later use a new, modified primary insurance amount (PIA)
formula. The new formula would use an additional bend point
placed between the current 2 bend points. The additional bend
point would be equal to the current lower bend point plus 75
percent of the difference between the current bend points.
(The new bend point would be at about the 58th percentile of
average career earnings levels for new retired worker
beneficiaries.) The PIA factor for dollars of average monthly
indexed earnings (AIME) between the new bend point and the upper
bend point would be lowered from 32 to 20 percent. The PIA
factor applied for dollars of AIME above the upper bend point
would be lowered from 15 to 10 percent.
Summary measures and graphs
(PDF Version)
Detailed single year tables
(PDF Version)
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Above provisions
Summary measures
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www.socialsecurity.gov
