Disability Insurance Grows More Attractive to Low-Income Workers
Created on July 24, 2015
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Read the original report, "Social Security Trustees: Disability Insurance Program Will Be Insolvent in 2016," by Rachel Greszler.
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The value of disability insurance has risen since 1980, and as a result, the SSDI replacement rate—the percentage of income replaced by SSDI benefits—has also grown. For workers without a high school diploma, the SSDI replacement rate is now above 54 percent.
Source: Author’s calculations based on data from the U.S. Department of Labor, Bureau of Labor Statistics, “Median Usual Weekly Earnings by Education Level,” http://www.bls.gov/ cps/earnings.htm (accessed July 8, 2015), and Social Security Administration, “Annual Bend Points for Primary Insurance Amount (PIA),” http://www.ssa.gov/oact/cola/bendpoints.html (accessed July 7, 2015).
CHART 6 • BG 3033
Tags: Social-Security, SSDI, disability-insurance