TABLE C-3 Projected Monthly Social Security Benefits in 2009 Dollars, Selected Years, for Workers Newly Retired at Age 65, Scheduled Under Current Law Compared with Options 1-4, and at Various Illustrative Earning Levels

Selected Years

Current Law

Option 1a

Option 2b

Option 3c

Option 4d

Scaled Very Low Earner ($10,510 for 2009)

2000

564

NA

NA

NA

NA

2010

638

638

638

638

638

2020

689

642

689

689

689

2035

754

714

754

754

754

2050

887

799

887

887

887

2065

1,041

903

1,041

1,041

1,041

2082

1,249

1,029

1,249

1,249

1,249

Scaled Low Earner ($18,919 for 2009)

2000

738

NA

NA

NA

NA

2010

834

834

834

834

834

2020

901

840

901

901

901

2035

986

934

986

986

986

2050

1,161

1,045

1,161

1,161

1,161

2065

1,362

1,181

1,362

1,362

1,362

2082

1,633

1,347

1,633

1,633

1,633

Scaled Medium Earner ($42,042 for 2009)

2000

1,217

NA

NA

NA

NA

2010

1,375

1,375

1,375

1,375

1,375

2020

1,485

1,324

1,421

1,421

1,485

2035

1,625

1,359

1,435

1,523

1,625

2050

1,912

1,405

1,559

1,792

1,912

2065

2,244

1,572

1,711

2,069

2,244

2082

2,691

1,707

2,052

2,264

2,691

Scaled High Earner ($67,267 for 2009)

2000

1,582

NA

NA

NA

NA

2010

1,822

1,822

1,822

1,822

1,822

2020

1,968

1,716

1,842

1,842

1,968

2035

2,154

1,683

1,777

1,951

2,154

2050

2,534

1,653

1,835

2,295

2,534

2065

2,974

1,836

1,917

2,627

2,974

2082

3,567

1,926

2,299

2,720

3,567

Steady Maximum Earnere ($106,800 for 2009)

2000

1,779

NA

NA

NA

NA

2010

2,156

2,156

2,156

2,156

2,156

2020

2,396

2,062

2,213

2,213

2,396

2035

2,634

1,977

2,088

2,340

2,634

2050

3,094

1,875

2,082

2,748

3,094

2065

3,628

2,073

2,101

3,126

3,628

2082

4,350

2,122

2,520

3,128

4,350

NOTE: NA = not applicable.

aBenefit changes only.

b2/3 benefit-growth reductions; 1/3 payroll-tax increases.

c1/3 benefit-growth reductions; 2/3 payroll-tax increases.

dPayroll-tax increases only.

eThat is, at the cap under the current-law Social Security payroll tax.



The National Academies | 500 Fifth St. N.W. | Washington, D.C. 20001
Copyright © National Academy of Sciences. All rights reserved.
Terms of Use and Privacy Statement