Short-Range Actuarial Projections of the Old-Age, Survivors, and Disability Insurance Program, 2001
Actuarial Study No. 115
Chris Motsiopoulos and Tim Zayatz, A.S.A.
 Contents Glossary




 

III. BENEFIT PAYMENTS

E. OLD-AGE AND SURVIVORS INSURANCE BENEFIT PAYMENTS

Table III.E7—Average Monthly Benefit to Aged Widows and Widowers of Deceased Workers
In Force, Awarded, Terminated, and In Current-Payment Status
(By gender, calendar years 1975-2010)
[Numbers in thousands]
Year
  Benefit
increase
(percent)
In force
beginning of year
Awards
during year
Terminations
during year
In force
end of year
Current-payment status
end of year
  Number
  Average
benefit
  Number
  Average
benefit
  Number
  Ratio to
average
benefit
in force
beginning
of year
  Average
benefit
  Number
  Average
benefit
  Ratio to
average
benefit
in force
end of year
  Average
benefit
Widows
1975
8.0
3,707.2
$177.27
353.2
$199.40
253.6
0.8672
$166.02
3,806.8
$193.88
1.0002
$193.92
1980
14.3
4,202.4
269.72
424.7
314.70
331.0
.8996
277.33
4,296.1
311.31
1.0007
311.51
1985
3.1
4,722.0
414.49
467.3
444.08
369.4
.9149
390.99
4,819.9
431.75
1.0050
433.92
1986
1.3
4,819.9
431.75
455.0
457.38
370.1
.9212
402.90
4,904.9
441.82
1.0070
444.89
1987
4.2
4,904.9
441.82
437.5
481.17
360.3
.9111
419.44
4,982.1
465.16
1.0081
468.93
1988
4.0
4,982.1
465.16
424.2
508.02
359.9
.9150
442.66
5,046.5
488.74
1.0096
493.42
1989
4.7
5,046.5
488.74
414.8
536.46
353.4
.9104
465.85
5,107.8
516.89
1.0111
522.64
1990
5.4
5,107.8
516.89
415.9
570.14
360.0
.9109
496.24
5,163.8
550.23
1.0130
557.39
1991
3.7
5,163.8
550.23
418.9
594.29
367.6
.9074
517.74
5,215.0
576.22
1.0144
584.53
1992
3.0
5,215.0
576.22
418.6
614.32
370.9
.9036
536.29
5,262.7
599.19
1.0159
608.74
1993
2.6
5,262.7
599.19
415.2
636.12
391.0
.9040
555.78
5,287.0
620.81
1.0176
631.72
1994
2.8
5,287.0
620.81
410.7
655.15
395.1
.9030
576.29
5,302.6
644.12
1.0193
656.55
1995
2.6
5,302.6
644.12
397.2
679.54
393.3
.9009
595.38
5,306.5
667.12
1.0211
681.20
1996
2.9
5,306.5
667.12
391.5
702.41
394.5
.9069
622.55
5,303.4
692.40
1.0229
708.26
1997
2.1
5,303.4
692.40
393.6
714.69
453.7
.9251
653.98
5,243.3
712.10
1.0286
732.45
1998
1.3
5,243.3
712.10
395.7
725.36
420.5
.9046
652.53
5,218.5
727.21
1.0317
750.25
1999
1 2.5
5,218.5
727.21
419.8
729.15
439.6
.8914
663.78
5,198.7
750.25
1.0344
776.07
2000
3.5
5,198.7
750.25
454.0
732.60
474.9
.8674
673.57
5,177.8
782.10
1.0380
811.78
2001
2.8
5,177.8
782.10
401.9
762.20
417.7
.8291
666.60
5,162.0
811.86
1.0380
842.67
2002
2.9
5,162.0
811.86
415.1
790.99
421.5
.8259
689.94
5,155.7
843.72
1.0380
875.74
2003
3.0
5,155.7
843.72
409.7
820.73
421.0
.8276
719.25
5,144.4
877.44
1.0380
910.74
2004
3.1
5,144.4
877.44
413.3
856.70
421.0
.8270
748.16
5,136.7
913.61
1.0380
948.28
2005
3.2
5,136.7
913.61
410.1
894.50
420.2
.8281
780.78
5,126.6
952.26
1.0380
988.40
2006
3.3
5,126.6
952.26
421.8
932.97
421.5
.8241
810.67
5,127.0
993.74
1.0380
1,031.45
2007
3.3
5,127.0
993.74
440.7
978.39
425.2
.8196
841.37
5,142.4
1,037.72
1.0380
1,077.10
2008
3.3
5,142.4
1,037.72
451.2
1,023.44
428.3
.8168
875.63
5,165.4
1,084.00
1.0380
1,125.14
2009
3.3
5,165.4
1,084.00
458.7
1,071.72
430.8
.8152
912.83
5,193.2
1,132.70
1.0380
1,175.68
2010
3.3
5,193.2
1,132.70
452.3
1,122.64
431.1
.8174
956.40
5,214.4
1,183.63
1.0380
1,228.54
Widowers
1975
8.0
3.1
164.36
.5
176.86
.4
.9665
171.57
3.1
178.25
1.0001
178.27
1980
14.3
20.9
201.04
11.4
194.60
7.2
.8053
185.05
25.2
226.55
1.0565
239.36
1985
3.1
42.9
277.66
17.3
260.82
14.0
.9755
279.25
46.1
278.87
1.1396
317.81
1986
1.3
46.1
278.87
17.6
268.84
13.1
.8330
235.31
50.6
289.99
1.1226
325.53
1987
4.2
50.6
289.99
17.3
276.40
14.3
.8956
270.62
53.7
302.24
1.1300
341.52
1988
4.0
53.7
302.24
18.0
286.20
15.1
.8840
277.87
56.6
315.12
1.1408
359.48
1989
4.7
56.6
315.12
17.0
307.27
14.5
.8938
294.88
59.1
332.02
1.1504
381.95
1990
5.4
59.1
332.02
17.9
326.01
15.0
.8905
311.61
62.0
352.31
1.1592
408.40
1991
3.7
62.0
352.31
18.8
338.52
15.5
.8849
323.29
65.2
367.63
1.1641
427.96
1992
3.0
65.2
367.63
19.2
350.17
15.7
.8835
334.56
68.7
380.80
1.1650
443.62
1993
2.6
68.7
380.80
18.2
360.56
15.5
.8687
339.41
71.4
394.13
1.1709
461.48
1994
2.8
71.4
394.13
17.9
369.12
16.0
.8621
349.31
73.3
408.56
1.1782
481.36
1995
2.6
73.3
408.56
17.4
388.29
15.5
.8824
369.90
75.2
422.18
1.1848
500.19
1996
2.9
75.2
422.18
17.2
400.32
15.3
.8764
380.74
77.1
437.44
1.1902
520.66
1997
2.1
77.1
437.44
17.3
410.67
16.8
.9046
404.00
77.6
447.88
1.1935
534.52
1998
1.3
77.6
447.88
17.8
416.06
16.4
.8616
390.89
79.0
458.25
1.1983
549.10
1999
1 2.5
79.0
458.25
19.6
427.57
17.8
.8456
396.81
80.8
475.07
1.2049
572.42
2000
3.5
80.8
475.07
22.0
431.36
19.6
.8047
395.68
83.2
498.32
1.2178
606.86
2001
2.8
83.2
498.32
24.2
448.79
24.8
.8480
434.41
82.7
517.02
1.2178
629.64
2002
2.9
82.7
517.02
20.5
465.74
19.8
.8056
428.61
83.3
540.29
1.2178
657.98
2003
3.0
83.3
540.29
20.4
483.25
19.6
.8003
445.36
84.1
564.65
1.2178
687.65
2004
3.1
84.1
564.65
20.2
504.43
19.5
.8014
466.52
84.8
590.21
1.2178
718.77
2005
3.2
84.8
590.21
19.8
526.69
19.3
.8021
488.58
85.3
617.28
1.2178
751.73
2006
3.3
85.3
617.28
20.7
549.34
19.6
.7937
506.12
86.4
646.37
1.2178
787.17
2007
3.3
86.4
646.37
22.3
576.08
20.3
.7842
523.64
88.4
677.70
1.2178
825.32
2008
3.3
88.4
677.70
22.9
602.61
20.9
.7839
548.76
90.3
710.44
1.2178
865.19
2009
3.3
90.3
710.44
23.4
631.04
21.5
.7841
575.42
92.2
744.72
1.2178
906.93
2010
3.3
92.2
744.72
24.1
661.02
22.1
.7829
602.28
94.3
780.70
1.2178
950.75

1 Benefit increase for 1999 was originally determined as 2.4 percent, but pursuant to Public Law 106-554 is effectively now 2.5 percent.

Sources:

· Number in force and number awarded shown earlier.

· Number terminated calculated as in force beginning of year plus awards during year minus in force end of year.

· Average benefit awarded, shown earlier.

· Historical ratio of average terminated benefit to average benefit in force computed by division of corresponding figures where the average benefit in force at the beginning of the year has been adjusted to the end-of-year rate; future ratios projected based on historical trend.

· Historical average terminated benefit computed by dividing (a) number in force at beginning of year times average benefit in force, plus number of awards times average benefit awarded at beginning-of-year rate, minus number in force at end of year times average benefit in force at beginning-of-year rates, by (b) number of terminations. Future average terminated benefit computed by applying applicable ratio to average benefit in force at beginning of year.

· Historical average benefit in force from 1-A Table In Force Supplement. Future average benefit in force at end of year computed by dividing (a) number in force at beginning of year times average benefit in force at end-of-year rate, plus number of awards times average benefit awarded at end-of-year rate, minus number of terminations times average terminated benefit at end of year rate, by (b) number in force at end of year.

· Historical ratio of average benefit in current-payment status to average benefit in force computed by division of corresponding figures; future ratios projected based on historical trend.

· Historical average benefit in current-payment status from 1-A Table Current-Payment Supplement; future average benefit computed by applying applicable ratio to average benefit in force.

Note: Future estimates based on 2001 Trustees Report intermediate set of assumptions.

Contents Glossary

List of Studies
December 26, 2001