Choosing the Nation's Fiscal Future

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Choosing the Nation's Fiscal Future (2010)
National Research Council (NRC)

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. "Appendix C: Social Security Options." Choosing the Nation's Fiscal Future. Washington, DC: The National Academies Press, 2010.

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Choosing the Nation’s Fiscal Future

TABLE C-4 Projected Social Security Worker Benefits as a Percentage of Past Earnings Selected Years, for Workers Newly Retired at Age 65, Scheduled Under Current Law Compared to Options 1-4, and at Various Illustrative Earning Levels

	Current Law	Option 1^a	Option 2^b	Option 3^c	Option 4^d
Scaled Low Earner ($18,919 for 2009)
2010	54	54	54	54	54
2020	52	49	52	52	52
2035	49	46	49	49	49
2050	49	44	49	49	49
2065	49	43	49	49	49
2082	49	40	49	49	49
Scaled Medium Earner ($42,042 for 2009)
2010	40	40	40	40	40
2020	39	35	37	37	39
2035	36	30	32	34	36
2050	36	27	30	34	36
2065	36	25	28	34	36
2082	36	23	28	31	36
Scaled High Earner ($67,267 for 2009)
2010	33	33	33	33	33
2020	32	28	30	30	32
2035	30	24	25	27	30
2050	30	20	22	27	30
2065	30	19	19	27	30
2082	30	16	19	23	30
Steady Maximum Earner^e ($106,800 for 2009)
2010	27	27	27	27	27
2020	26	22	24	24	26
2035	24	18	19	21	24
2050	24	15	16	21	24
2065	24	14	14	21	24
2082	24	12	14	17	24
^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.