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Joint Economic Committee Democrats
Social Security Charts

Chart 4.1
Last updated 7/6/06

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  • The President’s proposal would result in benefit cuts due to the change from wage-indexing to price-indexing of initial benefits.

  • The benefit cuts would grow deeper over time.

  • The distributions workers could expect from their private accounts would not make up the difference. Workers with average earnings who retire in 2076 would receive 30 percent less from the combination of their guaranteed benefit and the expected proceeds from their private account than they are promised under current law.

  • For workers retiring in 2076, the portion of Social Security income that is guaranteed and not subject to investment risk would equal only 24 percent of the benefit promised under current law.