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Social Security Benefits to Still Rise Significantly Under Chained CPI

Created on May 22, 2013

Social Security Benefits to Still Rise Significantly Under Chained CPI

CHART 1

Difference compared to 2013

MAXIMUM WAGE RETIREE

AVERAGE RETIRED WORKER

MONTHLY BENEFIT PAYMENTS

MINIMUM WAGE RETIREE

2023 Current Index

2023 Chained CPI

2013

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.

B 2799

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