Changing Longevity, Social Security Retirement Benefits, and Potential Adjustments

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