Excess Retiree Benefits
Created on May 22, 2013
Maximum Wage Retiree
Average Retired Worker
Minimum Wage Retiree
EXCESS RETIREE BENEFITS COMPARED TO CHAINED CPI
Under its current inflation adjustment rather than the more accurate chained CPI, Social Security will provide $3,549 in excess benefits to the average retiree over 10 years. Maximum wage earners will receive $7,623 in excess benefits over 10 years.
Note: A maximum wage retiree is a worker who earned the Social Security taxable maximum income or higher in each of his or her working years. In 2011, the taxable maximum income was $106,800.
Source: Heritage Foundation calculations based on data from the Social Security Administration; U.S. Department of Labor, Bureau of Labor Statistics; and Congressional Budget Office forecasts.