Changing Longevity, Social Security Retirement Benefits, and Potential Adjustments

Social Security Bulletin. 81(3): 19-34, 2021

16 Pages Posted: 30 Aug 2021

See all articles by Gayle Leah Reznik

Gayle Leah Reznik

Government of the United States of America - The Office of Retirement and Disability Policy

Kenneth A. Couch

University of Connecticut - Department of Economics

Christopher R. Tamborini

U.S. Social Security Administration

Howard Iams

U.S. Social Security Administration

Date Written: August 2, 2021

Abstract

Long-term increases in life expectancy have varied for individuals with different lifetime earnings levels. This article examines two hypothetical adjustments to Social Security Old Age and Survivors Insurance benefits that would offset the differential changes in projected life expectancy. The authors use the Modeling Income in the Near Term microsimulation model to analyze how the adjustments would affect benefits for beneficiaries across the lifetime earnings distribution.

Keywords: Life expectancy; Social Security benefits; Retirement; Longevity; Earnings; Distributional Analysis; Lifetime Benefits; Differential Mortality; Microsimulation

JEL Classification: H55, J11, J14, J17

Suggested Citation

Reznik, Gayle Leah and Couch, Kenneth A. and Tamborini, Christopher R. and Iams, Howard, Changing Longevity, Social Security Retirement Benefits, and Potential Adjustments (August 2, 2021). Social Security Bulletin. 81(3): 19-34, 2021, Available at SSRN: https://ssrn.com/abstract=3899900

Gayle Leah Reznik (Contact Author)

Government of the United States of America - The Office of Retirement and Disability Policy ( email )

United States

Kenneth A. Couch

University of Connecticut - Department of Economics ( email )

365 Fairfield Way, U-1063
Storrs, CT 06269-1063
United States
860-486-3022 (Phone)
860-486-4463 (Fax)

Christopher R. Tamborini

U.S. Social Security Administration ( email )

500 E. Street, S.W.
Washington, DC 20254
United States
202.358.6109 (Phone)

HOME PAGE: http://www.ssa.gov/policy/

Howard Iams

U.S. Social Security Administration ( email )

Washington, DC 20254
United States

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