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<h1 itemprop="headline">Employment at Older Ages and Social Security Benefit Claiming, <span class="nobr">1980–2018</span></h1>
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<div id="hByline">by <span itemprop="author">Patrick J. Purcell</span><br>Research and Statistics Note <abbr title="Number">No.</abbr> <span class="nobr">2020-01</span> (released April 2020)</div>
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<div id="breadcrumbs" itemscope itemtype="http://schema.org/BreadcrumbList">You are here: <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"><a href="/" itemprop="item"><span itemprop="name">Social Security Administration</span></a><meta itemprop="position" content="1" /></span> > <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"><a href="/policy/index.html" itemprop="item"><span itemprop="name">Research, Statistics & Policy Analysis</span></a><meta itemprop="position" content="2" /></span> > <span itemprop="itemListElement" itemscope itemtype="http://schema.org/ListItem"><a href="/policy/research.html?type=Research%20and%20Statistics%20Note" itemprop="item"><span itemprop="name">Research and Statistics Notes</span></a><meta itemprop="position" content="3" /></span></div>
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<h4>Related Content</h4>
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<div class="rcItems">
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<p>Population Profile: <a href="/policy/docs/population-profiles/fully-insured-workers.html">Fully Insured Workers</a></p>
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</div>
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<div class="introBox">
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<div class="eightypercent">
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<p>The author is with the Office of Research, Office of Research, Evaluation, and Statistics, Office of Retirement and Disability Policy, Social Security Administration.</p>
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<p>Contents of this publication are not copyrighted; any items may be reprinted, but citation is requested. The findings and conclusions presented in this note are those of the author and do not necessarily represent the views of the Social Security Administration.</p>
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</div>
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</div>
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<h2>Introduction</h2>
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<div class="abbrtable">
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<table>
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<caption>Selected Abbreviations</caption>
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<colgroup span="1" style="width:25%"></colgroup>
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<colgroup span="1"></colgroup>
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<tbody>
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<tr>
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<td><abbr class="spell">BLS</abbr></td>
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<td>Bureau of Labor Statistics</td>
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</tr>
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<tr>
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<td><abbr class="spell">DI</abbr></td>
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<td>Disability Insurance</td>
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</tr>
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<tr>
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<td><abbr class="spell">DRC</abbr></td>
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<td>delayed retirement credit</td>
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</tr>
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<tr>
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<td><abbr class="spell">FRA</abbr></td>
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<td>full retirement age</td>
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</tr>
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<tr>
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<td><abbr class="spell">LFPR</abbr></td>
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<td>labor force participation rate</td>
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</tr>
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<tr>
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<td><abbr class="spell">OCACT</abbr></td>
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<td>Office of the Chief Actuary</td>
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</tr>
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<tr>
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<td><abbr>P.L.</abbr></td>
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<td>Public Law</td>
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</tr>
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<tr>
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<td><abbr class="spell">RET</abbr></td>
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<td>retirement earnings test</td>
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</tr>
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<tr>
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<td><abbr class="spell">SSA</abbr></td>
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<td>Social Security Administration</td>
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</tr>
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</tbody>
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</table>
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</div>
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<p>A retired worker's Social Security benefit depends in part on the age at which he or she claims benefits. Working longer and claiming benefits later increase the monthly benefit. Information about trends in employment at older ages and the age at which individuals claim Social Security benefits can help policymakers assess the effectiveness of current policies in influencing the timing of retirement and benefit claims. Both the labor force participation rate (<abbr class="spell">LFPR</abbr>) among older Americans and the age at which they claim Social Security retirement benefits have risen in recent years. For example, from 2000 through 2018, the <abbr class="spell">LFPR</abbr> among individuals aged <span class="nobr">65–69</span> rose from 30 percent to 38 percent for men and from 19 percent to 29 percent for women. Since 2000, the proportion of fully insured men and women who claim retirement benefits at the earliest eligibility age of 62 has declined substantially.</p>
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<h2>The Aging <abbr>U.S.</abbr> Population</h2>
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<p>Over the next 20 years, the proportion of Americans who are aged 65 or older will rise substantially. The Census Bureau projects that while the total <abbr>U.S.</abbr> population will increase from 333 million in 2020 to 374 million in 2040—an increase of 41 million—the number of people aged 65 or older will increase from 56 million to 81 million—an increase of 25 million. As a result, the proportion of the population that is aged 65 or older is projected to rise from 16.8 percent in 2020 to 21.7 percent in 2040 (Census Bureau 2017, Table 2). The rise in the number of older Americans will result in higher expenditures for Social Security, Medicare, and Medicaid, and will affect the amounts and sources of income for tens of millions of individuals and families.</p>
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<p>The projected growth in the proportion of the population that is aged 65 or older over the next 20 years will reflect <span class="nobr">long-term</span> demographic trends, especially the rise and subsequent fall in birth rates in the second half of the 20<sup>th</sup> century. Changes in birth rates and death rates typically occur over long periods, and they can take decades to affect the age profile of a nation's population. By contrast, trends in retirement age—and in the age at which individuals claim Social Security benefits—can change substantially in a short time. Choices about retirement and Social Security benefit claiming can affect individuals' retirement income many years into the future. By delaying retirement, for example, workers can continue to accumulate savings instead of beginning to draw those savings down to pay their living expenses. Additionally, workers who delay claiming their Social Security benefits until after the earliest age of eligibility receive larger monthly benefits for life.</p>
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<p>This research and statistics note updates <a href="/policy/docs/ssb/v76n4/v76n4p1.html">Purcell (2016)</a>. It presents new data on trends in the <abbr class="spell">LFPR</abbr> of older Americans, in the age at which people claim Social Security retired-worker benefits, and in the proportion of men and women aged 62 or older who receive disabled-worker or retired-worker benefits. The data are summarized in six charts. The first chart shows <abbr class="spell">LFPR</abbr>s based on data collected in the Current Population Survey (<abbr class="spell">CPS</abbr>), a monthly survey of households conducted by the Census Bureau. The <abbr class="spell">CPS</abbr> collects data on employment, unemployment, persons not in the labor force, hours of work, and earnings, along with other demographic and labor force characteristics (Census Bureau, <abbr>n.d.</abbr>). It is the primary source of data for estimates of the national unemployment rate published monthly by the Bureau of Labor Statistics (<abbr class="spell">BLS</abbr>). The chart presents annual averages of those <abbr class="spell">CPS</abbr> data as compiled by <abbr class="spell">BLS</abbr>. The next five charts illustrate trends in Social Security benefit claiming behavior and in beneficiaries as a percentage of the population fully insured for Social Security benefits. Those charts are based on administrative records and estimates prepared by the Office of the Chief Actuary (<abbr class="spell">OCACT</abbr>) of the Social Security Administration (<abbr class="spell">SSA</abbr>) for the <i>2019 Annual Report of the Board of Trustees of the Federal <span class="nobr">Old-Age</span> and Survivors Insurance and Federal Disability Insurance Trust Funds</i> (or simply the <i>Trustees Report</i>).</p>
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<p>This note also includes appendices that provide information on Social Security rules and definitions that are relevant to deciding when to claim retired-worker benefits. The appendices also address rules changes enacted in 1983, 2000, and 2015 that affect workers in earlier and later birth cohorts differently.</p>
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<h2>Trends in Labor Force Participation at Age 55 or Older</h2>
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<p>The civilian labor force comprises noninstitutionalized individuals aged 16 or older who are working (full time or part time) or are unemployed and looking for work (<abbr class="spell">BLS</abbr>, <abbr>n.d.</abbr>). People aged 16 or older who are neither working nor looking for work are considered not to be in the labor force; those individuals are mainly <span class="nobr">full-time</span> students, parents caring for children, persons with disabilities, and retirees.<sup><a href="#mn1" id="mt1">1</a></sup> The <abbr class="spell">LFPR</abbr> is the percentage of civilian noninstitutionalized individuals aged 16 or older who are working or are unemployed and looking for work.</p>
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<p>The <abbr class="spell">LFPR</abbr> is highest at ages <span class="nobr">25–54</span> for both men and women, and it is higher at all ages for men than for women. Over the last 60 years, however, the <abbr class="spell">LFPR</abbr> among ages <span class="nobr">25–54</span> has fallen for men, while it has risen for women.<sup><a href="#mn2" id="mt2">2</a></sup> The <abbr class="spell">LFPR</abbr> declines as workers age. At ages 55 or older, many workers begin to leave the labor force because of age-related disability or because they choose to retire. Over the last 30 years, the <abbr class="spell">LFPR</abbr>s of women aged 55 or older and men aged 60 or older have risen. A number of factors may have contributed to the rising <abbr class="spell">LFPR</abbr> among older Americans. A partial list includes the <span class="nobr">long-term</span> shift in employment toward industries and occupations that require relatively less physical strength, the trend away from defined benefit pensions to defined contribution retirement savings plans, the decline in the availability of employer-sponsored retiree health insurance, and the 1983, 2000, and 2015 Social Security rules changes (discussed later).</p>
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<p>The increase in the <abbr class="spell">LFPR</abbr> at ages 55 or older has occurred while the number of single-person households has risen, as more people are either divorced or never married when they reach traditional retirement ages. Higher employment rates at older ages could be either a cause or an effect of the increase in single-person households. On one hand, working at older ages may enable greater numbers of older Americans to live alone. On the other hand, the absence of a spouse—and possibly a second source of income—may make it necessary for people who live alone to work longer.</p>
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<p>Chart 1 illustrates the <abbr class="spell">LFPR</abbr>s for 1980, 1985, and <span class="nobr">1990–2018</span> among men and women in four age groups: <span class="nobr">55–59,</span> <span class="nobr">60–64,</span> <span class="nobr">65–69,</span> and 70 or older. Men aged <span class="nobr">55–59</span> are the only group represented for whom the <abbr class="spell">LFPR</abbr> did not rise after 1985. The <abbr class="spell">LFPR</abbr> among men aged <span class="nobr">55–59</span> fell from 82 percent in 1980 to 77 percent in 2000. Thereafter, it fluctuated within a narrow range of <span class="nobr">77–79</span> percent through 2018. The <abbr class="spell">LFPR</abbr> among men aged <span class="nobr">60–64</span> also fell in the period <span class="nobr">1980–2000,</span> from 61 percent to 55 percent. Thereafter, it increased slowly but steadily, reaching 60 percent in 2010 and 63 percent in 2018. Although the <abbr class="spell">LFPR</abbr> among men (and women) aged 65 or older has been increasing for the last 25 years, it remains much lower than the rate among men (and women) aged <span class="nobr">55–64.</span> For example, 79 percent of men aged <span class="nobr">55–59</span> and 63 percent of men aged <span class="nobr">60–64</span> were in the labor force in 2018, compared with 38 percent of men aged <span class="nobr">65–69</span> and 17 percent of men aged 70 or older. In other words, in 2018, the <abbr class="spell">LFPR</abbr> of men aged <span class="nobr">65–69</span> was less than half that of men aged <span class="nobr">55–59.</span></p>
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<div class="chartCenter">
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<div class="chart700" id="chart1">
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<div class="title">Chart 1.<br><abbr class="spell">LFPR</abbr> for men and women aged 55 or older by age group, selected years <span class="nobr">1980–2018</span></div>
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<div class="scrollChart"><img src="rsn2020-01-chart01.gif" alt="Line chart with tabular version below." width="660" height="777" /></div>
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<div class="table altTable"><a class="altToggle" href="">Show as table</a>
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<table>
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<caption><span class="tableNumber">Table equivalent for Chart 1. </span><abbr class="spell">LFPR</abbr> for men and women aged 55 or older by age group, selected years <span class="nobr">1980–2018</span></caption>
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<colgroup span="1" style="width:5em"></colgroup>
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<colgroup span="4" style="width:6em"></colgroup>
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<thead>
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<tr>
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<th class="stubHeading" scope="col">Year</th>
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<th scope="col"><span class="nobr">55–59</span></th>
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<th scope="col"><span class="nobr">60–64</span></th>
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<th scope="col"><span class="nobr">65–69</span></th>
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<th scope="col">70 or older</th>
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</tr>
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</thead>
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<tbody>
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<tr>
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<td> </td>
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<th colspan="4" class="panel" scope="rowgroup">Men</th>
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</tr>
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<tr>
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<th class="stub0" scope="row">1980</th>
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<td>81.9</td>
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<td>61.0</td>
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<td>28.5</td>
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<td>13.1</td>
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</tr>
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<tr>
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<th class="stub0" scope="row">1985</th>
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<td>79.6</td>
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<td>55.6</td>
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<td>24.5</td>
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<td>10.5</td>
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</tr>
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<tr>
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<th class="stub0" scope="row">1990</th>
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<td>79.8</td>
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<td>55.5</td>
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<td>26.0</td>
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<td>10.8</td>
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</tr>
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<tr>
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<th class="stub0" scope="row">1991</th>
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<td>79.0</td>
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<td>54.7</td>
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<td>25.1</td>
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<td>10.5</td>
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</tr>
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<tr>
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<th class="stub0" scope="row">1992</th>
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<td>78.9</td>
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<td>54.7</td>
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<td>25.9</td>
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<td>10.7</td>
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</tr>
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<tr>
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<th class="stub0" scope="row">1993</th>
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<td>78.2</td>
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<td>54.1</td>
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<td>25.5</td>
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<td>10.3</td>
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</tr>
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<tr>
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<th class="stub0" scope="row">1994</th>
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<td>76.9</td>
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<td>52.8</td>
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<td>26.8</td>
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<td>11.7</td>
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</tr>
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<tr>
|
|
<th class="stub0" scope="row">1995</th>
|
|
<td>77.4</td>
|
|
<td>53.2</td>
|
|
<td>27.0</td>
|
|
<td>11.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1996</th>
|
|
<td>79.2</td>
|
|
<td>55.2</td>
|
|
<td>28.4</td>
|
|
<td>11.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1997</th>
|
|
<td>78.7</td>
|
|
<td>54.5</td>
|
|
<td>28.4</td>
|
|
<td>11.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1998</th>
|
|
<td>78.4</td>
|
|
<td>55.4</td>
|
|
<td>28.0</td>
|
|
<td>11.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1999</th>
|
|
<td>78.4</td>
|
|
<td>54.8</td>
|
|
<td>28.5</td>
|
|
<td>11.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2000</th>
|
|
<td>77.1</td>
|
|
<td>54.8</td>
|
|
<td>30.1</td>
|
|
<td>11.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2001</th>
|
|
<td>77.3</td>
|
|
<td>56.5</td>
|
|
<td>30.3</td>
|
|
<td>12.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2002</th>
|
|
<td>78.0</td>
|
|
<td>57.6</td>
|
|
<td>32.2</td>
|
|
<td>11.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2003</th>
|
|
<td>77.6</td>
|
|
<td>57.2</td>
|
|
<td>32.8</td>
|
|
<td>12.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2004</th>
|
|
<td>77.6</td>
|
|
<td>57.0</td>
|
|
<td>32.6</td>
|
|
<td>12.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2005</th>
|
|
<td>77.6</td>
|
|
<td>58.0</td>
|
|
<td>33.6</td>
|
|
<td>13.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2006</th>
|
|
<td>77.7</td>
|
|
<td>58.6</td>
|
|
<td>34.4</td>
|
|
<td>13.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2007</th>
|
|
<td>77.8</td>
|
|
<td>59.2</td>
|
|
<td>34.3</td>
|
|
<td>14.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2008</th>
|
|
<td>78.8</td>
|
|
<td>59.9</td>
|
|
<td>35.6</td>
|
|
<td>14.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2009</th>
|
|
<td>78.0</td>
|
|
<td>60.9</td>
|
|
<td>36.3</td>
|
|
<td>14.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2010</th>
|
|
<td>78.5</td>
|
|
<td>60.0</td>
|
|
<td>36.5</td>
|
|
<td>14.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2011</th>
|
|
<td>78.2</td>
|
|
<td>59.1</td>
|
|
<td>37.4</td>
|
|
<td>15.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2012</th>
|
|
<td>78.0</td>
|
|
<td>60.5</td>
|
|
<td>37.1</td>
|
|
<td>16.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2013</th>
|
|
<td>78.0</td>
|
|
<td>60.5</td>
|
|
<td>37.2</td>
|
|
<td>15.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2014</th>
|
|
<td>76.8</td>
|
|
<td>61.9</td>
|
|
<td>36.1</td>
|
|
<td>15.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2015</th>
|
|
<td>77.1</td>
|
|
<td>61.5</td>
|
|
<td>36.8</td>
|
|
<td>15.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2016</th>
|
|
<td>77.4</td>
|
|
<td>62.0</td>
|
|
<td>36.9</td>
|
|
<td>16.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2017</th>
|
|
<td>78.0</td>
|
|
<td>62.4</td>
|
|
<td>37.3</td>
|
|
<td>16.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2018</th>
|
|
<td>78.9</td>
|
|
<td>63.0</td>
|
|
<td>37.6</td>
|
|
<td>16.9</td>
|
|
</tr>
|
|
<tr>
|
|
<td> </td>
|
|
<th colspan="4" class="panel" scope="rowgroup">Women</th>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1980</th>
|
|
<td>48.6</td>
|
|
<td>33.3</td>
|
|
<td>15.1</td>
|
|
<td>4.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1985</th>
|
|
<td>50.3</td>
|
|
<td>33.4</td>
|
|
<td>13.5</td>
|
|
<td>4.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1990</th>
|
|
<td>55.3</td>
|
|
<td>35.5</td>
|
|
<td>17.0</td>
|
|
<td>4.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1991</th>
|
|
<td>55.7</td>
|
|
<td>35.1</td>
|
|
<td>17.0</td>
|
|
<td>4.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1992</th>
|
|
<td>56.8</td>
|
|
<td>36.5</td>
|
|
<td>16.2</td>
|
|
<td>4.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1993</th>
|
|
<td>57.1</td>
|
|
<td>37.1</td>
|
|
<td>16.1</td>
|
|
<td>4.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1994</th>
|
|
<td>59.2</td>
|
|
<td>37.8</td>
|
|
<td>17.9</td>
|
|
<td>5.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1995</th>
|
|
<td>59.5</td>
|
|
<td>38.0</td>
|
|
<td>17.5</td>
|
|
<td>5.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1996</th>
|
|
<td>60.2</td>
|
|
<td>38.8</td>
|
|
<td>17.7</td>
|
|
<td>5.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1997</th>
|
|
<td>60.7</td>
|
|
<td>39.5</td>
|
|
<td>17.6</td>
|
|
<td>5.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1998</th>
|
|
<td>61.3</td>
|
|
<td>39.1</td>
|
|
<td>17.8</td>
|
|
<td>5.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1999</th>
|
|
<td>61.8</td>
|
|
<td>38.8</td>
|
|
<td>18.4</td>
|
|
<td>5.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2000</th>
|
|
<td>61.2</td>
|
|
<td>40.1</td>
|
|
<td>19.4</td>
|
|
<td>5.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2001</th>
|
|
<td>61.6</td>
|
|
<td>42.4</td>
|
|
<td>20.0</td>
|
|
<td>5.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2002</th>
|
|
<td>63.8</td>
|
|
<td>44.1</td>
|
|
<td>20.7</td>
|
|
<td>6.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2003</th>
|
|
<td>65.5</td>
|
|
<td>45.3</td>
|
|
<td>22.7</td>
|
|
<td>6.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2004</th>
|
|
<td>65.0</td>
|
|
<td>45.4</td>
|
|
<td>23.3</td>
|
|
<td>6.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2005</th>
|
|
<td>65.6</td>
|
|
<td>45.8</td>
|
|
<td>23.7</td>
|
|
<td>7.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2006</th>
|
|
<td>66.7</td>
|
|
<td>47.0</td>
|
|
<td>24.2</td>
|
|
<td>7.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2007</th>
|
|
<td>66.6</td>
|
|
<td>47.9</td>
|
|
<td>25.7</td>
|
|
<td>7.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2008</th>
|
|
<td>67.7</td>
|
|
<td>48.7</td>
|
|
<td>26.4</td>
|
|
<td>8.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2009</th>
|
|
<td>68.5</td>
|
|
<td>49.9</td>
|
|
<td>26.6</td>
|
|
<td>8.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2010</th>
|
|
<td>68.4</td>
|
|
<td>50.7</td>
|
|
<td>27.0</td>
|
|
<td>8.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2011</th>
|
|
<td>67.8</td>
|
|
<td>50.3</td>
|
|
<td>27.3</td>
|
|
<td>8.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2012</th>
|
|
<td>67.3</td>
|
|
<td>50.4</td>
|
|
<td>27.6</td>
|
|
<td>8.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2013</th>
|
|
<td>67.2</td>
|
|
<td>50.0</td>
|
|
<td>27.6</td>
|
|
<td>9.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2014</th>
|
|
<td>66.4</td>
|
|
<td>50.2</td>
|
|
<td>27.5</td>
|
|
<td>9.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2015</th>
|
|
<td>66.3</td>
|
|
<td>49.8</td>
|
|
<td>27.9</td>
|
|
<td>9.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2016</th>
|
|
<td>65.9</td>
|
|
<td>50.1</td>
|
|
<td>28.0</td>
|
|
<td>9.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2017</th>
|
|
<td>66.2</td>
|
|
<td>51.0</td>
|
|
<td>27.9</td>
|
|
<td>9.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2018</th>
|
|
<td>66.1</td>
|
|
<td>51.8</td>
|
|
<td>28.9</td>
|
|
<td>9.9</td>
|
|
</tr>
|
|
</tbody>
|
|
<tfoot>
|
|
<tr>
|
|
<td class="noNotes" colspan="5"> </td>
|
|
</tr>
|
|
</tfoot>
|
|
</table>
|
|
</div>
|
|
<div class="onlyNote">SOURCE: <abbr class="spell">BLS</abbr> data based on the <abbr class="spell">CPS</abbr>.</div>
|
|
</div>
|
|
</div>
|
|
<p>Historically, the <abbr class="spell">LFPR</abbr> among women aged 55 or older has been lower than the <abbr class="spell">LFPR</abbr> among men of that age. Although the gap narrowed substantially after 1980, the <abbr class="spell">LFPR</abbr> among women aged 55 or older remained lower than that of men 55 or older in 2018. For the <span class="nobr">55–59</span> age group, 66 percent of women were in the labor force in 2018, 13 percentage points lower than the rate among men of the same age. For ages <span class="nobr">60–64,</span> the <abbr class="spell">LFPR</abbr> among women was 52 percent in 2018, compared with 63 percent among men. Likewise, women's <abbr class="spell">LFPR</abbr>s of 29 percent for ages <span class="nobr">65–69</span> and 10 percent for ages 70 or older were lower than the corresponding rates of 38 percent and 17 percent among men in the respective age groups.</p>
|
|
<p>After steadily rising from 49 percent in 1980 to 61 percent in 2000 and 68 percent in 2010, the <abbr class="spell">LFPR</abbr> among women aged <span class="nobr">55–59</span> then declined slightly to 66 percent in 2018. Among women aged <span class="nobr">60–64,</span> the <abbr class="spell">LFPR</abbr> rose from 33 percent in 1980 to 40 percent in 2000 and 51 percent in 2010. At that point, it leveled off before rising slightly to 52 percent in 2018. Among women aged <span class="nobr">65–69,</span> the <abbr class="spell">LFPR</abbr> rose from 15 percent in 1980 to 19 percent in 2000 and 27 percent in 2010. By 2018, it had risen to 29 percent. Among women aged 70 or older, the <abbr class="spell">LFPR</abbr> was relatively flat from 1980 through 2000, averaging 5 percent per year. From 2000 through 2018, the <abbr class="spell">LFPR</abbr> of women aged 70 or older increased from 6 percent to 10 percent.</p>
|
|
<h2>Growth in the Population That Is Fully Insured for Retired-Worker Benefits</h2>
|
|
<p>A worker becomes insured for retirement benefits through employment that is subject to Social Security payroll taxes, called “covered employment.” To be fully insured for retired-worker benefits, a worker must accumulate 40 credits (requiring at least 10 years) of Social Security–covered employment. The amount of earnings needed to earn one credit can change slightly each year depending on the change in national average earnings. A worker can earn up to four credits in a year, and because earnings determine credits, four credits can be earned in fewer than four calendar quarters of covered employment.<sup><a href="#mn3" id="mt3">3</a></sup></p>
|
|
<p>Chart 2 shows that from 1980 through 2018, the number of men aged <span class="nobr">62–66</span> who were fully insured for retired-worker benefits more than doubled, rising from 4.2 million to 8.8 million. However, the percentage of men aged <span class="nobr">62–66</span> who were fully insured increased by only 1 percentage point, from 93 percent to 94 percent. The percentage of men who are fully insured for retired-worker benefits is unlikely to rise much above 94 percent because about <span class="nobr">one-fourth</span> of state and local government workers are not covered by Social Security, some individuals are disabled throughout their adult lives, and some older immigrants never accumulate 40 credits of Social Security–covered employment. Going forward, these circumstances are unlikely to change substantially.</p>
|
|
<div class="chartCenter">
|
|
<div class="chart700" id="chart2">
|
|
<div class="title">Chart 2.<br>Number and percentage of men and women aged <span class="nobr">62–66</span> who are fully insured for Social Security retired-worker benefits, <span class="nobr">1980–2018</span></div>
|
|
<div class="scrollChart"><img src="rsn2020-01-chart02.gif" alt="Line chart with tabular version below." width="671" height="328" /></div>
|
|
<div class="table altTable"><a class="altToggle" href="">Show as table</a>
|
|
<table>
|
|
<caption><span class="tableNumber">Chart 2. </span>Number and percentage of men and women aged <span class="nobr">62–66</span> who are fully insured for Social Security retired-worker benefits, <span class="nobr">1980–2018</span></caption>
|
|
<colgroup span="1" style="width:5em"></colgroup>
|
|
<colgroup span="2" style="width:6em"></colgroup>
|
|
<colgroup span="2" style="width:6em"></colgroup>
|
|
<thead>
|
|
<tr>
|
|
<th rowspan="2" class="stubHeading" scope="colgroup">Year</th>
|
|
<th colspan="2" class="spanner" scope="colgroup">Number (in millions)</th>
|
|
<th colspan="2" class="spanner" scope="colgroup">Percentage</th>
|
|
</tr>
|
|
<tr>
|
|
<th scope="col">Men</th>
|
|
<th scope="col">Women</th>
|
|
<th scope="col">Men</th>
|
|
<th scope="col">Women</th>
|
|
</tr>
|
|
</thead>
|
|
<tbody>
|
|
<tr>
|
|
<th class="stub0" scope="row">1980</th>
|
|
<td>4.2</td>
|
|
<td>3.4</td>
|
|
<td>92.7</td>
|
|
<td>65.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1981</th>
|
|
<td>4.2</td>
|
|
<td>3.5</td>
|
|
<td>92.1</td>
|
|
<td>65.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1982</th>
|
|
<td>4.3</td>
|
|
<td>3.5</td>
|
|
<td>92.1</td>
|
|
<td>65.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1983</th>
|
|
<td>4.4</td>
|
|
<td>3.6</td>
|
|
<td>92.4</td>
|
|
<td>65.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1984</th>
|
|
<td>4.5</td>
|
|
<td>3.7</td>
|
|
<td>92.4</td>
|
|
<td>65.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1985</th>
|
|
<td>4.5</td>
|
|
<td>3.8</td>
|
|
<td>92.5</td>
|
|
<td>65.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1986</th>
|
|
<td>4.6</td>
|
|
<td>3.8</td>
|
|
<td>93.4</td>
|
|
<td>66.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1987</th>
|
|
<td>4.6</td>
|
|
<td>3.9</td>
|
|
<td>93.1</td>
|
|
<td>66.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1988</th>
|
|
<td>4.6</td>
|
|
<td>3.9</td>
|
|
<td>92.6</td>
|
|
<td>66.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1989</th>
|
|
<td>4.6</td>
|
|
<td>3.9</td>
|
|
<td>92.6</td>
|
|
<td>67.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1990</th>
|
|
<td>4.6</td>
|
|
<td>3.9</td>
|
|
<td>92.1</td>
|
|
<td>67.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1991</th>
|
|
<td>4.5</td>
|
|
<td>3.9</td>
|
|
<td>91.4</td>
|
|
<td>67.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1992</th>
|
|
<td>4.5</td>
|
|
<td>3.8</td>
|
|
<td>91.5</td>
|
|
<td>68.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1993</th>
|
|
<td>4.5</td>
|
|
<td>3.8</td>
|
|
<td>91.4</td>
|
|
<td>68.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1994</th>
|
|
<td>4.5</td>
|
|
<td>3.8</td>
|
|
<td>91.1</td>
|
|
<td>68.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1995</th>
|
|
<td>4.4</td>
|
|
<td>3.8</td>
|
|
<td>91.2</td>
|
|
<td>69.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1996</th>
|
|
<td>4.4</td>
|
|
<td>3.8</td>
|
|
<td>91.6</td>
|
|
<td>70.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1997</th>
|
|
<td>4.4</td>
|
|
<td>3.8</td>
|
|
<td>91.6</td>
|
|
<td>70.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1998</th>
|
|
<td>4.4</td>
|
|
<td>3.8</td>
|
|
<td>91.8</td>
|
|
<td>71.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1999</th>
|
|
<td>4.5</td>
|
|
<td>3.9</td>
|
|
<td>91.7</td>
|
|
<td>72.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2000</th>
|
|
<td>4.6</td>
|
|
<td>4.1</td>
|
|
<td>91.7</td>
|
|
<td>73.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2001</th>
|
|
<td>4.7</td>
|
|
<td>4.2</td>
|
|
<td>91.4</td>
|
|
<td>74.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2002</th>
|
|
<td>4.8</td>
|
|
<td>4.3</td>
|
|
<td>91.6</td>
|
|
<td>75.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2003</th>
|
|
<td>5.0</td>
|
|
<td>4.5</td>
|
|
<td>92.0</td>
|
|
<td>76.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2004</th>
|
|
<td>5.3</td>
|
|
<td>4.8</td>
|
|
<td>92.5</td>
|
|
<td>77.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2005</th>
|
|
<td>5.6</td>
|
|
<td>5.1</td>
|
|
<td>92.9</td>
|
|
<td>79.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2006</th>
|
|
<td>5.8</td>
|
|
<td>5.4</td>
|
|
<td>93.1</td>
|
|
<td>79.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2007</th>
|
|
<td>6.0</td>
|
|
<td>5.6</td>
|
|
<td>93.6</td>
|
|
<td>81.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2008</th>
|
|
<td>6.3</td>
|
|
<td>5.9</td>
|
|
<td>93.6</td>
|
|
<td>81.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2009</th>
|
|
<td>6.7</td>
|
|
<td>6.4</td>
|
|
<td>93.8</td>
|
|
<td>82.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2010</th>
|
|
<td>7.0</td>
|
|
<td>6.7</td>
|
|
<td>93.8</td>
|
|
<td>83.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2011</th>
|
|
<td>7.3</td>
|
|
<td>7.1</td>
|
|
<td>94.0</td>
|
|
<td>84.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2012</th>
|
|
<td>7.7</td>
|
|
<td>7.6</td>
|
|
<td>93.9</td>
|
|
<td>85.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2013</th>
|
|
<td>7.9</td>
|
|
<td>7.8</td>
|
|
<td>93.9</td>
|
|
<td>86.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2014</th>
|
|
<td>8.0</td>
|
|
<td>8.0</td>
|
|
<td>93.9</td>
|
|
<td>87.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2015</th>
|
|
<td>8.2</td>
|
|
<td>8.2</td>
|
|
<td>94.0</td>
|
|
<td>87.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2016</th>
|
|
<td>8.4</td>
|
|
<td>8.5</td>
|
|
<td>94.1</td>
|
|
<td>88.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2017</th>
|
|
<td>8.6</td>
|
|
<td>8.8</td>
|
|
<td>94.1</td>
|
|
<td>88.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2018</th>
|
|
<td>8.8</td>
|
|
<td>9.0</td>
|
|
<td>94.0</td>
|
|
<td>89.2</td>
|
|
</tr>
|
|
</tbody>
|
|
<tfoot>
|
|
<tr>
|
|
<td class="noNotes" colspan="5"> </td>
|
|
</tr>
|
|
</tfoot>
|
|
</table>
|
|
</div>
|
|
<div class="firstNote">SOURCES: <abbr class="spell">SSA</abbr> <abbr class="spell">OCACT</abbr> and Office of Research, Evaluation, and Statistics.</div>
|
|
<div class="note">NOTES: “Percentage” represents the fully insured share of the population aged <span class="nobr">62–66</span> residing at <span class="nobr">year-end</span> in the “Social Security area.” This includes residents of the 50 states and the District of Columbia (adjusted for Census undercount), Puerto Rico, the <abbr>U.S.</abbr> Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands; federal civilian employees and persons in the <abbr>U.S.</abbr> armed forces abroad and their dependents; crew members of merchant vessels; all other <abbr>U.S.</abbr> citizens living abroad; and noncitizens living abroad who are insured for Social Security benefits.</div>
|
|
<div class="lastNote">Age is as of year-end.</div>
|
|
</div>
|
|
</div>
|
|
<p>Because of a <span class="nobr">long-term</span> rise in the <abbr class="spell">LFPR</abbr> among women of all ages, both the number and the proportion of women who are fully insured for Social Security retired-worker benefits have increased. From 1980 through 2018, the number of women aged <span class="nobr">62–66</span> who were fully insured rose from 3.4 million to 9.0 million and the proportion of women aged <span class="nobr">62–66</span> who were fully insured increased from 65 percent to 89 percent. In 2018, the number of women aged <span class="nobr">62–66</span> who were fully insured for retirement benefits (9.0 million) exceeded the number of men the same age who were fully insured (8.8 million). Nevertheless, the percentage of women in this age group who were fully insured (89 percent) remained lower than the percentage of men who were fully insured (94 percent).</p>
|
|
<h2>Social Security Retired-Worker Benefit Claims by Age</h2>
|
|
<p>Workers who have earned at least 40 credits of Social Security–covered employment are fully insured for retired-worker benefits. The earliest eligibility age for claiming a retired-worker benefit is 62; however, a worker who claims benefits before attaining full retirement age (<abbr class="spell">FRA</abbr>) receives permanently reduced monthly benefits. <abbr class="spell">FRA</abbr>s differ depending on year of birth (Table 1). For people who attained age 62 before 2000 (born in 1937 or earlier), the <abbr class="spell">FRA</abbr> is 65. For individuals who turn 62 in 2020 (born in 1958), the <abbr class="spell">FRA</abbr> is 66 and 8 months. The <abbr class="spell">FRA</abbr> for individuals who will attain age 62 in 2022 or later is 67. <a href="#appendixA">Appendix A</a> provides further detail on the <abbr class="spell">FRA</abbr>.</p>
|
|
<div class="table" id="table1">
|
|
<table class="textTable">
|
|
<caption><span class="tableNumber">Table 1. </span>Social Security <abbr class="spell">FRA</abbr>, by year of birth</caption>
|
|
<colgroup span="1" style="width:10em"></colgroup>
|
|
<colgroup span="1" style="width:12em"></colgroup>
|
|
<colgroup span="2" style="width:12em"></colgroup>
|
|
<thead>
|
|
<tr>
|
|
<th rowspan="2" class="stubHeading" scope="colgroup">Year of birth</th>
|
|
<th rowspan="2" scope="colgroup"><abbr class="spell">FRA</abbr></th>
|
|
<th colspan="2" class="spanner" scope="colgroup">Year in which individual attains—</th>
|
|
</tr>
|
|
<tr>
|
|
<th scope="col">Age 62</th>
|
|
<th scope="col"><abbr class="spell">FRA</abbr></th>
|
|
</tr>
|
|
</thead>
|
|
<tbody>
|
|
<tr>
|
|
<th class="stub0" scope="row">1937 or earlier</th>
|
|
<td>65</td>
|
|
<td>1999 or earlier</td>
|
|
<td>2002 or earlier</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1938</th>
|
|
<td>65 and 2 months</td>
|
|
<td>2000</td>
|
|
<td>2003 or 2004</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1939</th>
|
|
<td>65 and 4 months</td>
|
|
<td>2001</td>
|
|
<td>2004 or 2005</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1940</th>
|
|
<td>65 and 6 months</td>
|
|
<td>2002</td>
|
|
<td>2005 or 2006</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1941</th>
|
|
<td>65 and 8 months</td>
|
|
<td>2003</td>
|
|
<td>2006 or 2007</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1942</th>
|
|
<td>65 and 10 months</td>
|
|
<td>2004</td>
|
|
<td>2007 or 2008</td>
|
|
</tr>
|
|
<tr class="topPad1">
|
|
<th class="stub0" scope="row">1943</th>
|
|
<td>66</td>
|
|
<td>2005</td>
|
|
<td>2009</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1944</th>
|
|
<td>66</td>
|
|
<td>2006</td>
|
|
<td>2010</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1945</th>
|
|
<td>66</td>
|
|
<td>2007</td>
|
|
<td>2011</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1946</th>
|
|
<td>66</td>
|
|
<td>2008</td>
|
|
<td>2012</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1947</th>
|
|
<td>66</td>
|
|
<td>2009</td>
|
|
<td>2013</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1948</th>
|
|
<td>66</td>
|
|
<td>2010</td>
|
|
<td>2014</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1949</th>
|
|
<td>66</td>
|
|
<td>2011</td>
|
|
<td>2015</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1950</th>
|
|
<td>66</td>
|
|
<td>2012</td>
|
|
<td>2016</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1951</th>
|
|
<td>66</td>
|
|
<td>2013</td>
|
|
<td>2017</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1952</th>
|
|
<td>66</td>
|
|
<td>2014</td>
|
|
<td>2018</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1953</th>
|
|
<td>66</td>
|
|
<td>2015</td>
|
|
<td>2019</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1954</th>
|
|
<td>66</td>
|
|
<td>2016</td>
|
|
<td>2020</td>
|
|
</tr>
|
|
<tr class="topPad1">
|
|
<th class="stub0" scope="row">1955</th>
|
|
<td>66 and 2 months</td>
|
|
<td>2017</td>
|
|
<td>2021 or 2022</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1956</th>
|
|
<td>66 and 4 months</td>
|
|
<td>2018</td>
|
|
<td>2022 or 2023</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1957</th>
|
|
<td>66 and 6 months</td>
|
|
<td>2019</td>
|
|
<td>2023 or 2024</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1958</th>
|
|
<td>66 and 8 months</td>
|
|
<td>2020</td>
|
|
<td>2024 or 2025</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1959</th>
|
|
<td>66 and 10 months</td>
|
|
<td>2021</td>
|
|
<td>2025 or 2026</td>
|
|
</tr>
|
|
<tr class="topPad1">
|
|
<th class="stub0" scope="row">1960 or later</th>
|
|
<td>67</td>
|
|
<td>2022 or later</td>
|
|
<td>2027 or later</td>
|
|
</tr>
|
|
</tbody>
|
|
<tfoot>
|
|
<tr>
|
|
<td class="onlyNote" colspan="4">SOURCE: <abbr class="spell">SSA</abbr>.</td>
|
|
</tr>
|
|
</tfoot>
|
|
</table>
|
|
</div>
|
|
<p>Delayed retirement credits (<abbr class="spell">DRC</abbr>s) permanently increase the monthly Social Security benefit for workers who claim after reaching <abbr class="spell">FRA</abbr> (see <a href="#appendixB">Appendix B</a>). <abbr class="spell">DRC</abbr>s accumulate with each month that a worker defers claiming until age 70. <abbr class="spell">DRC</abbr>s do not accumulate after age 70.</p>
|
|
<p>In the <i>Annual Statistical Supplement to the Social Security Bulletin</i> (or simply the <i>Annual Statistical Supplement</i>), <abbr class="spell">SSA</abbr> publishes data on the number of claims for retired-worker benefits filed by men and women aged 62 or older. From these statistics, one can calculate the percentage of all claims in a given year that were filed by individuals of a given age. The numerator of this fraction is the number of men (or women) of a particular age who claimed retired-worker benefits in the year and the denominator is the total number of claims for retired-worker benefits by all fully insured men (or women) aged 62 or older in that year.<sup><a href="#mn4" id="mt4">4</a></sup> Another way to look at the distribution of claims by age is to calculate the percentage of fully insured individuals of a given age who claimed benefits in a given year. The numerator for that calculation is the number of men (or women) of a particular age who claimed retired-worker benefits in a year and the denominator is the total number of fully insured men (or women) <i>of that age</i> in that year. The first method calculates the probability that a man or woman who claimed benefits in a given year was, for example, 62 years old, and the second method calculates the probability that a fully insured man or woman aged 62 in a given year claimed benefits in that year.</p>
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<p>The two methods will yield similar results if the number of people in each age group is roughly similar from year to year. However, if the number of people of a particular age changes substantially over time, results will differ between the two methods (Munnell and Chen 2015). For example, if the population of fully insured 62-year-old men fell from one year to the next but the percentage of 62-year-old men who claimed retired-worker benefits did not change, the first method would show a year-to-year decline in <i>claims filed by 62-year-old men as a percentage of all claims filed by men</i>. The second method, on the other hand, would show no change in the <i>percentage of 62-year-old men who claimed benefits</i>.</p>
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<p>Congress can affect the percentage of eligible individuals of a given age who claim benefits by changing the laws that govern the benefit levels available at the earliest eligibility age and at <abbr class="spell">FRA</abbr> (or later). For example, by replacing the formerly universal <abbr class="spell">FRA</abbr> of 65 with phased increases in <abbr class="spell">FRA</abbr>s affecting people born after 1937, Congress increased the financial incentive to delay claiming until after age 62. By contrast, one age group's share of all claims filed in a given year depends on past demographic trends—such as the relative sizes of adjacent birth cohorts—as well as on the financial incentives that influence individual choices. Consequently, the share of fully insured individuals of a given age who file benefit claims in a given year presents a clearer picture of claiming trends than does the share of insured individuals of all ages who file at that given age in that year.</p>
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<p>Charts <span class="nobr">3–5</span> show, for selected intervals during the period <span class="nobr">1985–2018,</span> the number of fully insured men and women eligible to claim retired-worker benefits, the number who claimed benefits, and the percentage of eligible individuals who claimed (the “claiming rate”) at ages 62, 65, and 66. Those ages represent, respectively, the earliest eligibility age for retired-worker benefits, the <abbr class="spell">FRA</abbr> for individuals born before 1938, and the <abbr class="spell">FRA</abbr> for those born during the period <span class="nobr">1943–1954.</span> (The <abbr class="spell">FRA</abbr>s for individuals born during <span class="nobr">1938–1942</span> or <span class="nobr">1955–1959</span> vary in <span class="nobr">2-month</span> increments; see <a href="#table1">Table 1</a>.) Because the charts reflect end-of-year ages, they depict the claiming experience of discrete annual birth cohorts.<sup><a href="#mn5" id="mt5">5</a></sup></p>
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<p>The data in Charts <span class="nobr">3–5</span> are the annual averages for each interval. Using multi-year averages reduces the effects of random year-to-year variations in claims. The ratio of claims to eligible persons (the claiming rate) represents the proportion of those “at risk” of claiming retired-worker benefits at each age who claimed benefits at that age. To be at risk of claiming a retired-worker benefit, an individual must (1) have reached age 62; (2) be fully insured for retired-worker benefits; and (3) not already be receiving retired-worker benefits, spouse benefits, survivor benefits, or disabled-worker benefits.<sup><a href="#mn6" id="mt6">6</a></sup> Among individuals in a given birth cohort, the number at risk of becoming new retired-worker beneficiaries is largest in the year when they attain age 62. At age 62, individuals who are fully insured and who are not receiving disabled-worker benefits can choose to claim retired-worker benefits. When members of the same birth cohort attain age 63, those who remain at risk of becoming retired-worker beneficiaries consist of all who (1) are fully insured; (2) are not receiving disabled-worker, spouse, or survivor benefits; and (3) did not claim retired-worker benefits at age 62. The remainder of this note refers to individuals who meet the applicable conditions, and are therefore at risk of claiming retired-worker benefits, as <i>eligible</i> individuals.</p>
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<p>Charts <span class="nobr">3–5</span> show that the pattern of claims by age changed after 2000. Revisions to the Social Security Act, as well as other factors, likely contributed to the change.<sup><a href="#mn7" id="mt7">7</a></sup> The Social Security Amendments of 1983 (Public Law [<abbr>P.L.</abbr>] <span class="nobr">98-21)</span> raised the <abbr class="spell">FRA</abbr> incrementally from 65 to 66 for individuals born during the period <span class="nobr">1938–1943,</span> thereby affecting people who would be reaching age 62 over a <span class="nobr">6-year</span> period beginning in 2000. As the <abbr class="spell">FRA</abbr> increased across birth cohorts, the reduction in benefits payable for those who claimed before reaching <abbr class="spell">FRA</abbr> increased. For example, the monthly benefit payable at age 62 decreased from 80 percent of the amount payable at <abbr class="spell">FRA</abbr> for a person born in 1937 to 75 percent for a person born in 1943, creating a financial incentive for workers in later cohorts to delay claiming until after age 62. The 1983 amendments raised the <abbr class="spell">FRA</abbr> incrementally from 66 to 67 for individuals born during the period <span class="nobr">1955–1960,</span> affecting people who reach age 62 in 2017 or later. The Senior Citizens' Freedom to Work Act of 2000 (<abbr>P.L.</abbr> <span class="nobr">106-182)</span> repealed the retirement earnings test (<abbr class="spell">RET</abbr>) for beneficiaries who have reached <abbr class="spell">FRA</abbr>.<sup><a href="#mn8" id="mt8">8</a></sup> Since January 1, 2000, the benefits of workers who have attained <abbr class="spell">FRA</abbr> have not been reduced by any portion of their earnings, regardless of the amount they earn. Thus, in 2000, workers who had attained <abbr class="spell">FRA</abbr> but had deferred claiming retired-worker benefits because of the <abbr class="spell">RET</abbr> now had an incentive to apply for benefits immediately. Lastly, the Bipartisan Budget Act of 2015 (<abbr>P.L.</abbr> <span class="nobr">114-74)</span> eliminated the “file-and-suspend” option (see <a href="#appendixC">Appendix C</a>), which had allowed married individuals who had attained the <abbr class="spell">FRA</abbr> to claim aged-spouse benefits while earning <abbr class="spell">DRC</abbr>s toward their own retired-worker benefits.</p>
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<p>Chart 3 shows the number of 62-year-old men and women eligible to claim retired-worker benefits, the number who claimed retired-worker benefits, and the percentage of eligible men and women who claimed retired-worker benefits over seven intervals from 1985 through 2018. As noted earlier, the data represent annual averages over <span class="nobr">5-year</span> intervals. Chart 3 illustrates two <span class="nobr">post-2000</span> trends: the increase in the number of men and women eligible for retired-worker benefits and the decline in the <span class="nobr">age-62</span> claiming rate among eligible men and women. The increase in the number of 62-year-old men who were eligible for retired-worker benefits resulted mainly from the gradual increase in the size of birth cohorts starting with the late 1930s and continuing with the baby boom beginning in 1946. The increase in the number of fully insured women reflects both population growth and rising employment rates among women. The decline in the claiming rate among 62-year-old men and women coincided with the older <abbr class="spell">FRA</abbr>s for workers who were born after 1937 and thus attained age 62 after 1999.</p>
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<div class="chartCenter">
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<div class="chart700" id="chart3">
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<div class="title">Chart 3.<br>Annual average number of 62-year-old men and women eligible for and claiming retired-worker benefits, various periods <span class="nobr">1985–2018</span></div>
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<div class="scrollChart"><img src="rsn2020-01-chart03.gif" alt="Bar chart with tabular version below." width="689" height="770" /></div>
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<div class="table altTable"><a class="altToggle" href="">Show as table</a>
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<table>
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<caption><span class="tableNumber">Chart 3. </span>Annual average number of 62-year-old men and women eligible for and claiming retired-worker benefits, various periods <span class="nobr">1985–2018</span></caption>
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<colgroup span="1" style="width:5em"></colgroup>
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<colgroup span="2" style="width:6em"></colgroup>
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<colgroup span="1" style="width:6em"></colgroup>
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<thead>
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<tr>
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<th rowspan="2" class="stubHeading" scope="colgroup">Year range</th>
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<th colspan="2" class="spanner" scope="colgroup">Number (in thousands)</th>
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<th rowspan="2" scope="colgroup">Claiming rate (%)</th>
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</tr>
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<tr>
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<th scope="col">Eligible</th>
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<th scope="col">Claiming</th>
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</tr>
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</thead>
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<tbody>
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<tr>
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<td> </td>
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<th colspan="3" class="panel" scope="rowgroup">Men</th>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1985–1989</span></th>
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<td>866</td>
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<td>364</td>
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<td>42.0</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1990–1994</span></th>
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<td>831</td>
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<td>371</td>
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<td>44.6</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1995–1999</span></th>
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<td>819</td>
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<td>361</td>
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<td>44.1</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2000–2004</span></th>
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<td>951</td>
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<td>376</td>
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<td>39.6</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2005–2009</span></th>
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<td>1,197</td>
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<td>403</td>
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<td>33.7</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2010–2014</span></th>
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<td>1,403</td>
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<td>418</td>
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<td>29.8</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2015–2018</span></th>
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<td>1,571</td>
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<td>347</td>
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<td>22.1</td>
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</tr>
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<tr>
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<td> </td>
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<th colspan="3" class="panel" scope="rowgroup">Women</th>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1985–1989</span></th>
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<td>660</td>
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<td>335</td>
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<td>50.7</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1990–1994</span></th>
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<td>648</td>
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<td>320</td>
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<td>49.4</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1995–1999</span></th>
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<td>661</td>
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<td>327</td>
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<td>49.4</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2000–2004</span></th>
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<td>809</td>
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<td>360</td>
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<td>44.4</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2005–2009</span></th>
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<td>1,080</td>
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<td>412</td>
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<td>38.1</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2010–2014</span></th>
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<td>1,351</td>
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<td>447</td>
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<td>33.1</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2015–2018</span></th>
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<td>1,534</td>
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<td>378</td>
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<td>24.6</td>
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</tr>
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</tbody>
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<tfoot>
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<tr>
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<td class="noNotes" colspan="4"> </td>
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</tr>
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</tfoot>
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</table>
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</div>
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<div class="firstNote">SOURCES: <abbr class="spell">SSA</abbr> <abbr class="spell">OCACT</abbr> and Office of Research, Evaluation, and Statistics.</div>
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<div class="note">NOTES: Data are for men and women aged 62 at year-end.</div>
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<div class="note">“Eligible” population is the number fully insured at the beginning of the given year minus the number who are already receiving retired-worker, <span class="nobr">widow(er),</span> or spouse benefits.</div>
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<div class="note">“Claiming” population is the number of new awards in force, including those withheld or otherwise suspended.</div>
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<div class="lastNote">Claiming rates are calculated using unrounded numbers.</div>
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</div>
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</div>
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<p>During <span class="nobr">1985–1989,</span> an annual average of 866,000 men were eligible to claim retired-worker benefits at age 62 and an average of 364,000 eligible 62-year-old men (42.0 percent) claimed benefits. In the next two intervals <span class="nobr">(1990–1994</span> and <span class="nobr">1995–1999),</span> the number of eligible 62-year-old men declined slightly and the proportion of eligible 62-year-old men who applied for benefits rose to about 44 percent. After 2000, the number of eligible 62-year-old men rose sharply, increasing from 951,000 per year during <span class="nobr">2000–2004</span> to 1,571,000 per year during <span class="nobr">2015–2018.</span> The number of claims filed by men at age 62 increased by much less (in both absolute and relative terms) than the number of men who were eligible, so the proportion of eligible 62-year-old men who claimed benefits trended steadily downward. The proportion of eligible 62-year-old men who claimed benefits fell from 39.6 percent in <span class="nobr">2000–2004</span> to 33.7 percent in <span class="nobr">2005–2009,</span> 29.8 percent in <span class="nobr">2010–2014,</span> and 22.1 percent in <span class="nobr">2015–2018.</span></p>
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<p>The decline in claiming rates after 2000 among eligible 62-year-old women was steeper than the decline among men. During <span class="nobr">1985–1989,</span> an annual average of 660,000 women were eligible to claim retired-worker benefits at age 62 and an average of 335,000 eligible 62-year-old women (50.7 percent) did so. In the next two intervals, the number of eligible 62-year-old women changed relatively little, and the claiming rate among those women fell slightly, to about 49 percent. After 2000, the number of eligible 62-year-old women rose in even greater proportions than did the number of eligible 62-year-old men, from an average of 809,000 per year during <span class="nobr">2000–2004</span> to an annual average of 1,534,000 during <span class="nobr">2015–2018.</span> As with men, the number of women who filed claims at age 62 increased by much less, in both absolute and relative terms, than the number who were eligible, which caused the claiming rate to decline. The proportion of eligible 62-year-old women who claimed benefits fell from 44.4 percent in <span class="nobr">2000–2004</span> to 38.1 percent in <span class="nobr">2005–2009,</span> 33.1 percent in <span class="nobr">2010–2014,</span> and 24.6 percent in <span class="nobr">2015–2018.</span></p>
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<p>As the number of members of a birth cohort who have claimed retired-worker benefits increases with each additional year, the number of those who remain eligible to file a new retired-worker claim falls. In Chart 4, the number of men and women who are still eligible to claim retired-worker benefits at age 65 excludes those who claimed benefits at ages <span class="nobr">62–64,</span> and the number of men and women who are eligible to claim at age 66 (Chart 5) excludes all who claimed at ages <span class="nobr">62–65.</span></p>
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<p>The outstanding characteristics of Chart 4 are the increase in the average annual number of 65-year-old men who were eligible for retired-worker benefits after 2000 and the concurrent decline in the percentage of eligible men who claimed benefits at age 65. From <span class="nobr">1985–1989</span> through <span class="nobr">1995–1999,</span> both the number of men who were still eligible to claim retired-worker benefits at age 65 and the number who claimed benefits in the year they turned 65 steadily declined. Across those intervals, the average annual number of eligible 65-year-old men fell from 290,000 to 254,000 and the average annual number of new claims fell from 213,000 to 176,000. The percentage of eligible 65-year-old men who claimed benefits declined from 73.4 percent to 69.0 percent.</p>
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<div class="chartCenter">
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<div class="chart700" id="chart4">
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<div class="title">Chart 4.<br>Annual average number of 65-year-old men and women eligible for and claiming retired-worker benefits, various periods <span class="nobr">1985–2018</span></div>
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<div class="scrollChart"><img src="rsn2020-01-chart04.gif" alt="Bar chart with tabular version below." width="687" height="771" /></div>
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<div class="table altTable"><a class="altToggle" href="">Show as table</a>
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<table>
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<caption><span class="tableNumber">Chart 4. </span>Annual average number of 65-year-old men and women eligible for and claiming retired-worker benefits, various periods <span class="nobr">1985–2018</span></caption>
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<colgroup span="1" style="width:5em"></colgroup>
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<colgroup span="2" style="width:6em"></colgroup>
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<colgroup span="1" style="width:6em"></colgroup>
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<thead>
|
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<tr>
|
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<th rowspan="2" class="stubHeading" scope="colgroup">Year range</th>
|
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<th colspan="2" class="spanner" scope="colgroup">Number (in thousands)</th>
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<th rowspan="2" scope="colgroup">Claiming rate (%)</th>
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</tr>
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<tr>
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<th scope="col">Eligible</th>
|
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<th scope="col">Claiming</th>
|
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</tr>
|
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</thead>
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<tbody>
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<tr>
|
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<td> </td>
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<th colspan="3" class="panel" scope="rowgroup">Men</th>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1985–1989</span></th>
|
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<td>290</td>
|
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<td>213</td>
|
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<td>73.4</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1990–1994</span></th>
|
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<td>273</td>
|
|
<td>201</td>
|
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<td>73.6</td>
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">1995–1999</span></th>
|
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<td>254</td>
|
|
<td>176</td>
|
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<td>69.0</td>
|
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</tr>
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2000–2004</span></th>
|
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<td>299</td>
|
|
<td>243</td>
|
|
<td>81.2</td>
|
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</tr>
|
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2005–2009</span></th>
|
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<td>444</td>
|
|
<td>142</td>
|
|
<td>32.0</td>
|
|
</tr>
|
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<tr>
|
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<th class="stub0" scope="row"><span class="nobr">2010–2014</span></th>
|
|
<td>610</td>
|
|
<td>117</td>
|
|
<td>19.1</td>
|
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</tr>
|
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<tr>
|
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<th class="stub0" scope="row"><span class="nobr">2015–2018</span></th>
|
|
<td>813</td>
|
|
<td>128</td>
|
|
<td>15.7</td>
|
|
</tr>
|
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<tr>
|
|
<td> </td>
|
|
<th colspan="3" class="panel" scope="rowgroup">Women</th>
|
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</tr>
|
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<tr>
|
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<th class="stub0" scope="row"><span class="nobr">1985–1989</span></th>
|
|
<td>158</td>
|
|
<td>118</td>
|
|
<td>74.6</td>
|
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</tr>
|
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<tr>
|
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<th class="stub0" scope="row"><span class="nobr">1990–1994</span></th>
|
|
<td>170</td>
|
|
<td>122</td>
|
|
<td>71.9</td>
|
|
</tr>
|
|
<tr>
|
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<th class="stub0" scope="row"><span class="nobr">1995–1999</span></th>
|
|
<td>166</td>
|
|
<td>119</td>
|
|
<td>71.9</td>
|
|
</tr>
|
|
<tr>
|
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<th class="stub0" scope="row"><span class="nobr">2000–2004</span></th>
|
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<td>191</td>
|
|
<td>159</td>
|
|
<td>83.4</td>
|
|
</tr>
|
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<tr>
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<th class="stub0" scope="row"><span class="nobr">2005–2009</span></th>
|
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<td>314</td>
|
|
<td>118</td>
|
|
<td>37.6</td>
|
|
</tr>
|
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<tr>
|
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<th class="stub0" scope="row"><span class="nobr">2010–2014</span></th>
|
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<td>491</td>
|
|
<td>116</td>
|
|
<td>23.6</td>
|
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</tr>
|
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<tr>
|
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<th class="stub0" scope="row"><span class="nobr">2015–2018</span></th>
|
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<td>739</td>
|
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<td>134</td>
|
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<td>18.2</td>
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</tr>
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</tbody>
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<tfoot>
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<tr>
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<td class="noNotes" colspan="4"> </td>
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</tr>
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</tfoot>
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</table>
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</div>
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<div class="firstNote">SOURCES: <abbr class="spell">SSA</abbr> <abbr class="spell">OCACT</abbr> and Office of Research, Evaluation, and Statistics.</div>
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<div class="note">NOTES: Data are for men and women aged 65 at year-end.</div>
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<div class="note">“Eligible” population is the number fully insured at the beginning of the given year minus the number who are already receiving retired-worker benefits (including those converted from disabled-worker benefits at <abbr class="spell">FRA</abbr>), <span class="nobr">widow(er)</span> benefits, or spouse benefits.</div>
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<div class="note">“Claiming” population is the number of new awards in force, including those withheld or otherwise suspended.</div>
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<div class="lastNote">Claiming rates are calculated using unrounded numbers.</div>
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</div>
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</div>
|
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<p>The proportion of eligible 65-year-old men who claimed benefits rose briefly, from 69.0 percent in <span class="nobr">1995–1999</span> to 81.2 percent in <span class="nobr">2000–2004.</span> This increase is attributable in part to the repeal of the <abbr class="spell">RET</abbr> in 2000 for beneficiaries who had reached <abbr class="spell">FRA</abbr>. Until 2000, the earnings test applied to all beneficiaries younger than 70. As noted earlier, the Senior Citizens' Freedom to Work Act (<abbr>P.L.</abbr> <span class="nobr">106-182)</span> eliminated the <abbr class="spell">RET</abbr> for people who have reached <abbr class="spell">FRA</abbr>, effective January 1, 2000. Workers who had attained their <abbr class="spell">FRA</abbr> as of that date but had deferred claiming Social Security benefits (because their earnings would have resulted in a benefit reduction) now had an incentive to apply for benefits immediately. Thus, the repeal of the <abbr class="spell">RET</abbr> for workers who had reached <abbr class="spell">FRA</abbr> was followed by a temporary increase in benefit claims among persons aged <span class="nobr">65–69</span> who were working and had deferred claiming retired-worker benefits.</p>
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|
<p>After 2000, the number of men who remained eligible to claim retired-worker benefits at age 65 rose sharply, increasing from 299,000 in <span class="nobr">2000–2004</span> to 813,000 in <span class="nobr">2015–2018.</span> At the same time, the average annual number of claims at age 65 declined from 243,000 in <span class="nobr">2000–2004</span> to 128,000 in <span class="nobr">2015–2018.</span> Consequently, the percentage of eligible men who claimed retired-worker benefits at age 65 fell sharply. The proportion of eligible 65-year-old men who claimed benefits at 65 fell from an annual average of 81.2 percent in <span class="nobr">2000–2004</span> to 15.7 percent in <span class="nobr">2015–2018.</span></p>
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|
<p>The average annual number of eligible 65-year-old women and the number who claimed benefits at age 65 remained relatively stable from <span class="nobr">1985–1989</span> through <span class="nobr">1995–1999.</span> The proportion of eligible 65-year-old women who claimed benefits rose in <span class="nobr">2000–2004,</span> largely because of the repeal of the <abbr class="spell">RET</abbr> in 2000 for beneficiaries who had reached <abbr class="spell">FRA</abbr>. After 2000, the number of 65-year-old women eligible to claim retired-worker benefits rose in greater proportions than the number of eligible 65-year-old men, increasing from an average of 191,000 per year in <span class="nobr">2000–2004</span> to 739,000 in <span class="nobr">2015–2018.</span> Over the same span, the annual average number of claims filed by women at age 65 fell from 159,000 to 134,000. Consequently, the proportion of eligible 65-year-old women who claimed retired-worker benefits at age 65 fell from an annual average of 83.4 percent in <span class="nobr">2000–2004</span> to 18.2 percent in <span class="nobr">2015–2018.</span> The decline in the proportions of eligible 65-year-old men and women who claimed benefits coincided with the increase in the <abbr class="spell">FRA</abbr> from 65 to 66 for birth cohorts that reached age 62 in 2000 and later.</p>
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|
<p>Most men and women who are fully insured for retirement benefits have already claimed those benefits by the time they reach age 66. Nevertheless, the number of men and women who remain eligible to claim benefits at 66 has risen substantially in recent years. From 1985 through 1989, an annual average of 149,000 66-year-old men were eligible to claim retired-worker benefits (Chart 5). On average, 38,000 66-year-old men—25.7 percent of those who were eligible—claimed benefits in the year they attained age 66. By the <span class="nobr">2000–2004</span> interval, the number of 66-year-old men who were eligible to claim retired-worker benefits had fallen to an annual average of 58,000, mainly because the repeal in 2000 of the <abbr class="spell">RET</abbr> for beneficiaries at <abbr class="spell">FRA</abbr> or older resulted in a spike in claims by men who were still working at age 65.</p>
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<div class="chartCenter">
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<div class="chart700" id="chart5">
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<div class="title">Chart 5.<br>Annual average number of 66-year-old men and women eligible for and claiming retired-worker benefits, various periods <span class="nobr">1985–2018</span></div>
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<div class="scrollChart"><img src="rsn2020-01-chart05.gif" alt="Bar chart with tabular version below." width="687" height="771" /></div>
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<div class="table altTable"><a class="altToggle" href="">Show as table</a>
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<table>
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<caption><span class="tableNumber">Chart 5. </span>Annual average number of 66-year-old men and women eligible for and claiming retired-worker benefits, various periods <span class="nobr">1985–2018</span></caption>
|
|
<colgroup span="1" style="width:5em"></colgroup>
|
|
<colgroup span="2" style="width:6em"></colgroup>
|
|
<colgroup span="1" style="width:6em"></colgroup>
|
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<thead>
|
|
<tr>
|
|
<th rowspan="2" class="stubHeading" scope="colgroup">Year range</th>
|
|
<th colspan="2" class="spanner" scope="colgroup">Number (in thousands)</th>
|
|
<th rowspan="2" scope="colgroup">Claiming rate (%)</th>
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</tr>
|
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<tr>
|
|
<th scope="col">Eligible</th>
|
|
<th scope="col">Claiming</th>
|
|
</tr>
|
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</thead>
|
|
<tbody>
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<tr>
|
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<td> </td>
|
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<th colspan="3" class="panel" scope="rowgroup">Men</th>
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|
</tr>
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<tr>
|
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<th class="stub0" scope="row"><span class="nobr">1985–1989</span></th>
|
|
<td>149</td>
|
|
<td>38</td>
|
|
<td>25.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">1990–1994</span></th>
|
|
<td>126</td>
|
|
<td>41</td>
|
|
<td>32.7</td>
|
|
</tr>
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|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">1995–1999</span></th>
|
|
<td>127</td>
|
|
<td>36</td>
|
|
<td>28.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2000–2004</span></th>
|
|
<td>58</td>
|
|
<td>40</td>
|
|
<td>68.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2005–2009</span></th>
|
|
<td>258</td>
|
|
<td>203</td>
|
|
<td>78.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2010–2014</span></th>
|
|
<td>461</td>
|
|
<td>309</td>
|
|
<td>67.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2015–2018</span></th>
|
|
<td>644</td>
|
|
<td>359</td>
|
|
<td>55.7</td>
|
|
</tr>
|
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<tr>
|
|
<td> </td>
|
|
<th colspan="3" class="panel" scope="rowgroup">Women</th>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">1985–1989</span></th>
|
|
<td>69</td>
|
|
<td>19</td>
|
|
<td>27.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">1990–1994</span></th>
|
|
<td>76</td>
|
|
<td>21</td>
|
|
<td>28.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">1995–1999</span></th>
|
|
<td>72</td>
|
|
<td>20</td>
|
|
<td>27.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2000–2004</span></th>
|
|
<td>31</td>
|
|
<td>25</td>
|
|
<td>78.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2005–2009</span></th>
|
|
<td>155</td>
|
|
<td>134</td>
|
|
<td>86.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2010–2014</span></th>
|
|
<td>335</td>
|
|
<td>218</td>
|
|
<td>65.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row"><span class="nobr">2015–2018</span></th>
|
|
<td>532</td>
|
|
<td>255</td>
|
|
<td>48.0</td>
|
|
</tr>
|
|
</tbody>
|
|
<tfoot>
|
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<tr>
|
|
<td class="noNotes" colspan="4"> </td>
|
|
</tr>
|
|
</tfoot>
|
|
</table>
|
|
</div>
|
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<div class="firstNote">SOURCES: <abbr class="spell">SSA</abbr> <abbr class="spell">OCACT</abbr> and Office of Research, Evaluation, and Statistics.</div>
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<div class="note">NOTES: Data are for men and women aged 66 at year-end.</div>
|
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<div class="note">“Eligible” population is the number fully insured at the beginning of the given year minus the number who are already receiving retired-worker benefits (including those converted from disabled-worker benefits at <abbr class="spell">FRA</abbr>), <span class="nobr">widow(er)</span> benefits, or spouse benefits.</div>
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<div class="note">“Claiming” population is the number of new awards in force, including those withheld or otherwise suspended.</div>
|
|
<div class="lastNote">Claiming rates are calculated using unrounded numbers.</div>
|
|
</div>
|
|
</div>
|
|
<p>In <span class="nobr">2005–2009,</span> the average annual number of 66-year-old men who were eligible to claim retired-worker benefits rose to 258,000—an increase of 200,000 from the previous interval—and the average annual number of claims by 66-year-old men rose to 203,000, or 78.7 percent of those who were eligible. The number of 66-year-old men eligible to claim retired-worker benefits rose to an annual average of 461,000 in <span class="nobr">2010–2014</span> and to 644,000 in <span class="nobr">2015–2018.</span> At the same time, the average annual number of claims filed by men who were 66 years old rose more modestly, to 309,000 in <span class="nobr">2010–2014</span> and to 359,000 in <span class="nobr">2015–2018.</span> Consequently, the proportion of eligible 66-year-old men who claimed retired-worker benefits declined to 67.1 percent in <span class="nobr">2010–2014</span> and to 55.7 percent in <span class="nobr">2015–2018.</span></p>
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<p>The trend in claims for retired-worker benefits filed by women at age 66 was similar to the trend among men. From 1985 through 1989, annual averages of 69,000 women were eligible to claim retired-worker benefits at age 66 and 19,000 (27.5 percent) did so. As with men, the average annual number of eligible 66-year-old women declined in the <span class="nobr">2000–2004</span> interval. In <span class="nobr">2005–2009,</span> the annual average number of 66-year-old women who were eligible to claim retired-worker benefits rose to 155,000, an increase of 124,000 from the previous interval, and the average annual number of claims filed by 66-year-old women rose to 134,000, or 86.8 percent of those eligible to claim retired-worker benefits. The number of 66-year-old women eligible to claim retired-worker benefits rose to an annual average of 335,000 in <span class="nobr">2010–2014</span> and to 532,000 in <span class="nobr">2015–2018.</span> At the same time, the average annual number of claims filed by women who were 66 years old rose by smaller proportions, to 218,000 in <span class="nobr">2010–2014</span> and to 255,000 in <span class="nobr">2015–2018.</span> Consequently, the proportion of eligible women who claimed retired-worker benefits declined to 65.1 percent in <span class="nobr">2010–2014</span> and to 48.0 percent in <span class="nobr">2015–2018.</span></p>
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<p>Charts <span class="nobr">3–5</span> categorize individuals by their age at the end of the year. This is equivalent to grouping individuals by year of birth. For example, everyone whose 62<sup>nd</sup> birthday occurs during 2020 was born in 1958, and everyone who was born in 1958 will be 62 years old on December 31, 2020. People who were born in 1943 comprise the first birth cohort with the <abbr class="spell">FRA</abbr> of 66, the age they attained in 2009. The annual claims data from which the annual averages in Charts <span class="nobr">3–5</span> were calculated show that the proportion of <span class="nobr">age-66</span> individuals who claimed retired-worker benefits began to rise in 2004, 5 years before the 1943 birth cohort reached age 66. This is due to the phased increase of the <abbr class="spell">FRA</abbr> from 65 to 66 in <span class="nobr">2-month</span> increments affecting successive birth cohorts from 1938 through 1943, which meant that the claimant's month of birth affected the year in which he or she attained <abbr class="spell">FRA</abbr> (see <a href="#table1">Table 1</a>). Among people who were born in 1938, for example, individuals with birthdays in November and December did not attain their <abbr class="spell">FRA</abbr> of 65 years and 2 months until 2004—the year in which they also attained age 66. Consequently, the percentage of individuals who were not already beneficiaries and who claimed retired-worker benefits at age 66 began rising several years before the members of the 1943 birth cohort attained their <abbr class="spell">FRA</abbr> of 66.</p>
|
|
<h2>Disabled-Worker and Retired-Worker Beneficiaries as Percentages of the Population</h2>
|
|
<p>Chart 6 illustrates trends over the period <span class="nobr">1985–2018</span> in retired-worker beneficiaries as percentages of the fully insured populations aged <span class="nobr">62–64,</span> 65, and 66. Because a decline in claiming retired-worker benefits before reaching <abbr class="spell">FRA</abbr> could have been offset in part by higher claiming rates for Social Security Disability Insurance (<abbr class="spell">DI</abbr>) benefits, Chart 6 also shows disabled-worker beneficiaries as percentages of the insured populations aged <span class="nobr">62–64</span> and 65.<sup><a href="#mn9" id="mt9">9</a></sup> The numerator of each percentage in Chart 6 is the number of men or women in each age group who received retired-worker benefits or disabled-worker benefits in a particular year. The denominator is the number of beneficiaries plus the number of fully insured men and women in each age group who were not beneficiaries.<sup><a href="#mn10" id="mt10">10</a></sup> As in Charts <span class="nobr">3–5,</span> the <span class="nobr">pre-2000</span> trends illustrated in Chart 6 differ from those for the years after 2000.</p>
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<div class="chartCenter">
|
|
<div class="chart700" id="chart6">
|
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<div class="title">Chart 6.<br>Disabled-worker and retired-worker beneficiaries at selected ages as percentages of the insured population at those ages: By sex, <span class="nobr">1985–2018</span></div>
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<div class="scrollChart"><img src="rsn2020-01-chart06.gif" alt="Line chart with tabular version below." width="657" height="800" /></div>
|
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<div class="table altTable"><a class="altToggle" href="">Show as table</a>
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<table>
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<caption><span class="tableNumber">Chart 6. </span>Disabled-worker and retired-worker beneficiaries at selected ages as percentages of the insured population at those ages: By sex, <span class="nobr">1985–2018</span></caption>
|
|
<colgroup span="1" style="width:5em"></colgroup>
|
|
<colgroup span="2" style="width:6em"></colgroup>
|
|
<colgroup span="3" style="width:6em"></colgroup>
|
|
<thead>
|
|
<tr>
|
|
<th rowspan="2" class="stubHeading" scope="colgroup">Year</th>
|
|
<th colspan="2" class="spanner" scope="colgroup">Disabled worker</th>
|
|
<th colspan="3" class="spanner" scope="colgroup">Retired worker</th>
|
|
</tr>
|
|
<tr>
|
|
<th scope="col"><span class="nobr">62–64</span></th>
|
|
<th scope="col">65</th>
|
|
<th scope="col"><span class="nobr">62–64</span></th>
|
|
<th scope="col">65</th>
|
|
<th scope="col">66</th>
|
|
</tr>
|
|
</thead>
|
|
<tbody>
|
|
<tr>
|
|
<td> </td>
|
|
<th colspan="5" class="panel" scope="rowgroup">Men</th>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1985</th>
|
|
<td>13.1</td>
|
|
<td>0.0</td>
|
|
<td>45.4</td>
|
|
<td>81.4</td>
|
|
<td>89.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1986</th>
|
|
<td>13.0</td>
|
|
<td>0.0</td>
|
|
<td>46.9</td>
|
|
<td>83.2</td>
|
|
<td>87.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1987</th>
|
|
<td>12.8</td>
|
|
<td>0.0</td>
|
|
<td>47.5</td>
|
|
<td>83.3</td>
|
|
<td>88.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1988</th>
|
|
<td>12.5</td>
|
|
<td>0.0</td>
|
|
<td>47.5</td>
|
|
<td>83.5</td>
|
|
<td>89.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1989</th>
|
|
<td>12.3</td>
|
|
<td>0.0</td>
|
|
<td>47.4</td>
|
|
<td>85.3</td>
|
|
<td>89.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1990</th>
|
|
<td>12.4</td>
|
|
<td>0.0</td>
|
|
<td>47.9</td>
|
|
<td>85.7</td>
|
|
<td>91.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1991</th>
|
|
<td>12.4</td>
|
|
<td>0.0</td>
|
|
<td>48.5</td>
|
|
<td>85.2</td>
|
|
<td>91.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1992</th>
|
|
<td>12.6</td>
|
|
<td>0.0</td>
|
|
<td>49.1</td>
|
|
<td>85.9</td>
|
|
<td>91.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1993</th>
|
|
<td>12.8</td>
|
|
<td>0.0</td>
|
|
<td>49.3</td>
|
|
<td>86.8</td>
|
|
<td>92.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1994</th>
|
|
<td>13.3</td>
|
|
<td>0.0</td>
|
|
<td>49.5</td>
|
|
<td>86.0</td>
|
|
<td>92.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1995</th>
|
|
<td>13.7</td>
|
|
<td>0.0</td>
|
|
<td>49.3</td>
|
|
<td>85.8</td>
|
|
<td>91.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1996</th>
|
|
<td>14.0</td>
|
|
<td>0.0</td>
|
|
<td>48.6</td>
|
|
<td>84.8</td>
|
|
<td>91.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1997</th>
|
|
<td>14.0</td>
|
|
<td>0.0</td>
|
|
<td>47.2</td>
|
|
<td>85.4</td>
|
|
<td>90.3</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1998</th>
|
|
<td>14.0</td>
|
|
<td>0.0</td>
|
|
<td>46.5</td>
|
|
<td>83.9</td>
|
|
<td>90.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1999</th>
|
|
<td>14.0</td>
|
|
<td>0.0</td>
|
|
<td>46.2</td>
|
|
<td>84.7</td>
|
|
<td>89.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2000</th>
|
|
<td>13.9</td>
|
|
<td>0.0</td>
|
|
<td>46.5</td>
|
|
<td>95.8</td>
|
|
<td>98.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2001</th>
|
|
<td>14.0</td>
|
|
<td>0.0</td>
|
|
<td>45.4</td>
|
|
<td>96.4</td>
|
|
<td>98.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2002</th>
|
|
<td>14.1</td>
|
|
<td>0.0</td>
|
|
<td>44.2</td>
|
|
<td>96.5</td>
|
|
<td>98.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2003</th>
|
|
<td>14.1</td>
|
|
<td>2.6</td>
|
|
<td>42.4</td>
|
|
<td>90.7</td>
|
|
<td>98.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2004</th>
|
|
<td>14.1</td>
|
|
<td>4.7</td>
|
|
<td>40.8</td>
|
|
<td>81.3</td>
|
|
<td>98.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2005</th>
|
|
<td>14.2</td>
|
|
<td>7.4</td>
|
|
<td>39.7</td>
|
|
<td>74.4</td>
|
|
<td>96.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2006</th>
|
|
<td>14.3</td>
|
|
<td>9.9</td>
|
|
<td>38.3</td>
|
|
<td>66.4</td>
|
|
<td>96.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2007</th>
|
|
<td>14.5</td>
|
|
<td>12.4</td>
|
|
<td>36.8</td>
|
|
<td>59.2</td>
|
|
<td>95.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2008</th>
|
|
<td>14.6</td>
|
|
<td>14.9</td>
|
|
<td>35.1</td>
|
|
<td>53.0</td>
|
|
<td>94.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2009</th>
|
|
<td>14.6</td>
|
|
<td>15.3</td>
|
|
<td>36.2</td>
|
|
<td>52.8</td>
|
|
<td>92.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2010</th>
|
|
<td>14.9</td>
|
|
<td>15.5</td>
|
|
<td>36.7</td>
|
|
<td>51.8</td>
|
|
<td>91.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2011</th>
|
|
<td>15.4</td>
|
|
<td>15.3</td>
|
|
<td>35.7</td>
|
|
<td>50.8</td>
|
|
<td>90.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2012</th>
|
|
<td>15.6</td>
|
|
<td>15.5</td>
|
|
<td>33.7</td>
|
|
<td>50.0</td>
|
|
<td>89.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2013</th>
|
|
<td>15.8</td>
|
|
<td>16.1</td>
|
|
<td>31.7</td>
|
|
<td>48.4</td>
|
|
<td>87.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2014</th>
|
|
<td>15.7</td>
|
|
<td>16.3</td>
|
|
<td>29.5</td>
|
|
<td>46.3</td>
|
|
<td>85.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2015</th>
|
|
<td>15.7</td>
|
|
<td>16.0</td>
|
|
<td>28.0</td>
|
|
<td>43.0</td>
|
|
<td>83.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2016</th>
|
|
<td>15.6</td>
|
|
<td>16.2</td>
|
|
<td>26.3</td>
|
|
<td>42.1</td>
|
|
<td>80.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2017</th>
|
|
<td>15.6</td>
|
|
<td>16.0</td>
|
|
<td>25.0</td>
|
|
<td>40.2</td>
|
|
<td>82.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2018</th>
|
|
<td>15.6</td>
|
|
<td>16.1</td>
|
|
<td>23.7</td>
|
|
<td>38.7</td>
|
|
<td>79.9</td>
|
|
</tr>
|
|
<tr>
|
|
<td> </td>
|
|
<th colspan="5" class="panel" scope="rowgroup">Women</th>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1985</th>
|
|
<td>8.1</td>
|
|
<td>0.0</td>
|
|
<td>50.2</td>
|
|
<td>78.3</td>
|
|
<td>83.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1986</th>
|
|
<td>8.1</td>
|
|
<td>0.0</td>
|
|
<td>50.9</td>
|
|
<td>77.3</td>
|
|
<td>81.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1987</th>
|
|
<td>8.0</td>
|
|
<td>0.0</td>
|
|
<td>51.1</td>
|
|
<td>77.2</td>
|
|
<td>80.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1988</th>
|
|
<td>7.7</td>
|
|
<td>0.0</td>
|
|
<td>50.9</td>
|
|
<td>76.6</td>
|
|
<td>80.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1989</th>
|
|
<td>7.7</td>
|
|
<td>0.0</td>
|
|
<td>50.4</td>
|
|
<td>77.8</td>
|
|
<td>80.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1990</th>
|
|
<td>7.9</td>
|
|
<td>0.0</td>
|
|
<td>50.2</td>
|
|
<td>77.9</td>
|
|
<td>82.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1991</th>
|
|
<td>8.1</td>
|
|
<td>0.0</td>
|
|
<td>49.7</td>
|
|
<td>77.2</td>
|
|
<td>81.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1992</th>
|
|
<td>8.4</td>
|
|
<td>0.0</td>
|
|
<td>49.7</td>
|
|
<td>77.8</td>
|
|
<td>81.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1993</th>
|
|
<td>8.7</td>
|
|
<td>0.0</td>
|
|
<td>49.5</td>
|
|
<td>78.1</td>
|
|
<td>82.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1994</th>
|
|
<td>9.1</td>
|
|
<td>0.0</td>
|
|
<td>49.8</td>
|
|
<td>77.9</td>
|
|
<td>81.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1995</th>
|
|
<td>9.5</td>
|
|
<td>0.0</td>
|
|
<td>49.8</td>
|
|
<td>78.3</td>
|
|
<td>81.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1996</th>
|
|
<td>10.0</td>
|
|
<td>0.0</td>
|
|
<td>49.6</td>
|
|
<td>78.6</td>
|
|
<td>82.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1997</th>
|
|
<td>10.3</td>
|
|
<td>0.0</td>
|
|
<td>48.9</td>
|
|
<td>79.6</td>
|
|
<td>82.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1998</th>
|
|
<td>10.7</td>
|
|
<td>0.0</td>
|
|
<td>48.7</td>
|
|
<td>78.7</td>
|
|
<td>83.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">1999</th>
|
|
<td>10.8</td>
|
|
<td>0.0</td>
|
|
<td>48.2</td>
|
|
<td>80.1</td>
|
|
<td>82.8</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2000</th>
|
|
<td>11.1</td>
|
|
<td>0.0</td>
|
|
<td>48.5</td>
|
|
<td>86.2</td>
|
|
<td>87.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2001</th>
|
|
<td>11.4</td>
|
|
<td>0.0</td>
|
|
<td>47.2</td>
|
|
<td>86.4</td>
|
|
<td>88.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2002</th>
|
|
<td>11.7</td>
|
|
<td>0.0</td>
|
|
<td>45.9</td>
|
|
<td>86.9</td>
|
|
<td>88.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2003</th>
|
|
<td>11.9</td>
|
|
<td>2.2</td>
|
|
<td>44.2</td>
|
|
<td>83.5</td>
|
|
<td>88.7</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2004</th>
|
|
<td>12.2</td>
|
|
<td>3.9</td>
|
|
<td>42.9</td>
|
|
<td>76.2</td>
|
|
<td>89.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2005</th>
|
|
<td>12.5</td>
|
|
<td>6.3</td>
|
|
<td>42.1</td>
|
|
<td>71.7</td>
|
|
<td>88.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2006</th>
|
|
<td>12.7</td>
|
|
<td>8.5</td>
|
|
<td>41.0</td>
|
|
<td>65.7</td>
|
|
<td>89.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2007</th>
|
|
<td>12.9</td>
|
|
<td>10.8</td>
|
|
<td>39.7</td>
|
|
<td>60.5</td>
|
|
<td>87.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2008</th>
|
|
<td>13.0</td>
|
|
<td>13.2</td>
|
|
<td>38.2</td>
|
|
<td>55.4</td>
|
|
<td>87.2</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2009</th>
|
|
<td>13.0</td>
|
|
<td>13.6</td>
|
|
<td>38.6</td>
|
|
<td>54.7</td>
|
|
<td>86.0</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2010</th>
|
|
<td>13.2</td>
|
|
<td>13.7</td>
|
|
<td>38.8</td>
|
|
<td>53.8</td>
|
|
<td>85.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2011</th>
|
|
<td>13.4</td>
|
|
<td>13.5</td>
|
|
<td>38.0</td>
|
|
<td>53.1</td>
|
|
<td>84.6</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2012</th>
|
|
<td>13.6</td>
|
|
<td>13.5</td>
|
|
<td>36.2</td>
|
|
<td>52.8</td>
|
|
<td>83.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2013</th>
|
|
<td>13.8</td>
|
|
<td>13.9</td>
|
|
<td>34.4</td>
|
|
<td>51.5</td>
|
|
<td>82.4</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2014</th>
|
|
<td>13.9</td>
|
|
<td>14.1</td>
|
|
<td>32.3</td>
|
|
<td>49.6</td>
|
|
<td>80.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2015</th>
|
|
<td>14.1</td>
|
|
<td>13.9</td>
|
|
<td>30.6</td>
|
|
<td>46.5</td>
|
|
<td>78.9</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2016</th>
|
|
<td>14.2</td>
|
|
<td>14.3</td>
|
|
<td>28.6</td>
|
|
<td>45.4</td>
|
|
<td>75.5</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2017</th>
|
|
<td>14.3</td>
|
|
<td>14.3</td>
|
|
<td>27.0</td>
|
|
<td>43.0</td>
|
|
<td>76.1</td>
|
|
</tr>
|
|
<tr>
|
|
<th class="stub0" scope="row">2018</th>
|
|
<td>14.4</td>
|
|
<td>14.6</td>
|
|
<td>25.7</td>
|
|
<td>41.4</td>
|
|
<td>74.0</td>
|
|
</tr>
|
|
</tbody>
|
|
<tfoot>
|
|
<tr>
|
|
<td class="noNotes" colspan="6"> </td>
|
|
</tr>
|
|
</tfoot>
|
|
</table>
|
|
</div>
|
|
<div class="firstNote">SOURCES: <abbr class="spell">SSA</abbr> <abbr class="spell">OCACT</abbr> and Office of Research, Evaluation, and Statistics.</div>
|
|
<div class="lastNote">NOTE: Age is as of year-end.</div>
|
|
</div>
|
|
</div>
|
|
<p>From 1985 through 1994, the proportion of fully insured men aged <span class="nobr">62–64</span> who received retired-worker benefits rose from 45 percent to 50 percent (Chart 6), after which it began to decline. In 2000, 46 percent of men aged <span class="nobr">62–64</span> were receiving retired-worker benefits. The proportion fell to 37 percent in 2010 and 24 percent in 2018. From 1985 through 2000, the proportion of men aged <span class="nobr">62–64</span> who received <abbr class="spell">DI</abbr> benefits rose by just 1 percentage point, from 13 percent to 14 percent. By 2018, the proportion of men aged <span class="nobr">62–64</span> who received <abbr class="spell">DI</abbr> benefits had risen 2 percentage points further, to 16 percent. Because the proportion of men aged <span class="nobr">62–64</span> who received retired-worker benefits fell by more than the proportion who received <abbr class="spell">DI</abbr> benefits rose, the proportion of men aged <span class="nobr">62–64</span> who received either retired-worker or <abbr class="spell">DI</abbr> benefits declined from 60 percent in 2000 to 40 percent in 2018.</p>
|
|
<p><abbr class="spell">DI</abbr> benefits automatically convert to retired-worker benefits when the beneficiary reaches <abbr class="spell">FRA</abbr>. As the <abbr class="spell">FRA</abbr> increased incrementally to 66 for persons born after 1937, some <abbr class="spell">DI</abbr> beneficiaries continued to receive disabled-worker benefits at age 65. Between 2002 and 2008, the proportion of 65-year-old men who received <abbr class="spell">DI</abbr> benefits increased from 0 percent to 15 percent. The rate of increase then slowed. In 2018, 16 percent of fully insured 65-year-old men received <abbr class="spell">DI</abbr> benefits.</p>
|
|
<p>From 1985 through 1999, the proportion of 65-year-old men who received retired-worker benefits increased from 81 percent to 85 percent. The proportion rose sharply to 96 percent in 2000 in response to the repeal of the <abbr class="spell">RET</abbr> in that year for beneficiaries who had reached <abbr class="spell">FRA</abbr>. The proportion of 65-year-old men receiving retired-worker benefits began to fall as the older <abbr class="spell">FRA</abbr>s for people born after 1937 affected greater shares of each successive birth cohort. By 2010, the proportion of 65-year-old men who received retired-worker benefits had fallen to 52 percent. By 2018, it had declined further, to 39 percent. Because the proportion of 65-year-old men who received retired-worker benefits fell by more than the proportion who received <abbr class="spell">DI</abbr> benefits rose, the proportion of 65-year-old men who received either retired-worker or <abbr class="spell">DI</abbr> benefits declined from 67 percent in 2010 to 55 percent in 2018.</p>
|
|
<p>From 1985 through 1999, an annual average of 91 percent of 66-year-old men received retired-worker benefits. In 2000, the proportion jumped to 98 percent in response to the repeal of the <abbr class="spell">RET</abbr> for beneficiaries who had reached <abbr class="spell">FRA</abbr>. From 2001 through 2004, the proportion of 66-year-old men who received retired-worker benefits remained stable. It then began to decline, falling to 80 percent by 2018. <a href="#chart5">Chart 5</a> shows that the average annual number of men still eligible to claim retired-worker benefits at age 66 rose by 200,000 between the <span class="nobr">2000–2004</span> and <span class="nobr">2005–2009</span> intervals and by another 386,000 between the <span class="nobr">2005–2009</span> and <span class="nobr">2015–2018</span> intervals. Although majorities of those men claimed their benefits at age 66, enough of them delayed their claims until age 67 or later to cause the proportion of 66-year-old men who were receiving retired-worker benefits to decline.</p>
|
|
<p>Trends in the proportion of women aged <span class="nobr">62–66</span> who received <abbr class="spell">DI</abbr> benefits or retired-worker benefits were similar to the trends among men (Chart 6). The decline in the proportion of women aged <span class="nobr">62–66</span> receiving retired-worker benefits after 2000 exceeded the increase in the percentage who received <abbr class="spell">DI</abbr> benefits. From 2000 through 2018, the proportion of women aged <span class="nobr">62–64</span> who received retired-worker benefits fell from 48 percent to 26 percent. That decline occurred even as the proportion of women aged <span class="nobr">62–64</span> who were fully insured for retirement benefits was rising (<a href="#chart2">Chart 2</a>). From 2000 through 2018, the proportion of fully insured women aged <span class="nobr">62–64</span> who received <abbr class="spell">DI</abbr> benefits rose from 11 percent to 14 percent.</p>
|
|
<p>As noted earlier, <abbr class="spell">DI</abbr> benefits convert to retired-worker benefits when the beneficiary reaches <abbr class="spell">FRA</abbr>. Before 2003, <abbr class="spell">DI</abbr> benefits converted to retired-worker benefits at age 65. Because of the increase in <abbr class="spell">FRA</abbr>, the proportion of 65-year-old women who received <abbr class="spell">DI</abbr> benefits increased from 0 percent in 2002 to 13 percent in 2008 and 15 percent in 2018. After 2002, the proportion of 65-year-old women receiving retired-worker benefits began to fall as the <abbr class="spell">FRA</abbr> increased incrementally from 65 to 66 for people born after 1937. In 2018, only 41 percent of 65-year-old women received retired-worker benefits. Because the proportion of 65-year-old women who received retired-worker benefits fell by more than the proportion who received <abbr class="spell">DI</abbr> benefits rose, the proportion of 65-year-old women who received either retired-worker or <abbr class="spell">DI</abbr> benefits declined from 68 percent in 2010 to 56 percent in 2018.</p>
|
|
<p>From 1985 through 1999, an average of 82 percent of 66-year-old women received retired-worker benefits. In 2000, the proportion rose to 87 percent in response to the repeal of the <abbr class="spell">RET</abbr> for beneficiaries who had reached <abbr class="spell">FRA</abbr>. Over the next 6 years, it fluctuated between 87 percent and 90 percent. It then began to decline, falling to 74 percent in 2018. <a href="#chart5">Chart 5</a> shows that the average annual number of women still eligible to claim retired-worker benefits at age 66 rose by 124,000 between the <span class="nobr">2000–2004</span> and <span class="nobr">2005–2009</span> intervals and by another 377,000 between the <span class="nobr">2005–2009</span> and <span class="nobr">2015–2018</span> intervals. Although majorities of those women claimed their benefits at age 66, enough of them delayed their claims until age 67 or later to cause the proportion of 66-year-old women who were receiving retired-worker benefits to decline.</p>
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<h2>Conclusion</h2>
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<p>This research and statistics note highlights several important trends in labor force participation among older Americans and in the age at which people claim Social Security retirement benefits, including the following:</p>
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<ul>
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<li>Older Americans are working longer. From 1980 through 2018, the <abbr class="spell">LFPR</abbr> among individuals aged <span class="nobr">65–69</span> rose from 29 percent to 38 percent for men and from 15 percent to 29 percent for women.</li>
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<li>Between 1980 and 2018, the percentage of men aged <span class="nobr">62–66</span> who were fully insured for Social Security retirement benefits rose by just 1 percentage point, from 93 percent to 94 percent. Because not all jobs are covered by Social Security, this percentage is unlikely to rise much in the future. Over the same period, the proportion of women aged <span class="nobr">62–66</span> who were fully insured for Social Security retirement benefits increased from 65 percent to 89 percent, reflecting the <span class="nobr">long-term</span> increase in women's employment rates.</li>
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<li>After 2000, the proportion of fully insured men and women who claimed retirement benefits at age 62 declined substantially. From 2000 through 2004, 40 percent of fully insured men claimed retirement benefits at 62. From 2015 through 2018, 22 percent of fully insured men claimed retirement benefits at 62. From 2000 through 2004, 44 percent of fully insured women claimed retirement benefits at 62. From 2015 through 2018, 25 percent of fully insured women claimed retirement benefits at 62.</li>
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<li>From 1985 through 2004, an annual average of 39,000 men and 21,000 women claimed retired-worker benefits at age 66. From 2010 through 2018, after the <abbr class="spell">FRA</abbr> had increased to 66 for all persons who attained age 66 in 2009 or later, an annual average of 334,000 men and 236,000 women claimed retired-worker benefits at age 66.</li>
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<li>From 2000 through 2018, the proportion of fully insured men aged <span class="nobr">62–64</span> who received retired-worker benefits declined from 46 percent to 24 percent. Over the same period, the proportion of men aged <span class="nobr">62–64</span> who received <abbr class="spell">DI</abbr> benefits rose by 2 percentage points, from 14 percent to 16 percent. The proportion of fully insured women aged <span class="nobr">62–64</span> who received retired-worker benefits declined from 48 percent in 2000 to 26 percent in 2018. Over the same period, the proportion of women aged <span class="nobr">62–64</span> who received <abbr class="spell">DI</abbr> benefits rose by 3 percentage points, from 11 percent to 14 percent.</li>
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</ul>
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<h2 id="appendixA">Appendix A: Early Eligibility Age and <abbr class="spell">FRA</abbr></h2>
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<p>The Social Security Act of 1935 set the age of eligibility for retired-worker benefits at 65. Social Security–insured workers have been able to claim retired-worker benefits as early as age 62 since 1956 (for women) and 1961 (for men), but the monthly benefit amount is permanently reduced for individuals who claim before reaching the <abbr class="spell">FRA</abbr>. Individuals who claim benefits before attaining <abbr class="spell">FRA</abbr> receive benefits over a longer period, on average, than do those who claim at <abbr class="spell">FRA</abbr> or later. The monthly benefit reduction for those who claim before reaching <abbr class="spell">FRA</abbr> was designed to make the present value of lifetime benefits approximately equal for the average beneficiary, regardless of the age at which he or she claims. The Social Security Amendments of 1983 (<abbr>P.L.</abbr> <span class="nobr">98-21)</span> set the <abbr class="spell">FRA</abbr> for people born after 1937 at incrementally increasing steps from 65 to 67 (see <a href="#table1">Table 1</a>).</p>
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<p>For individuals born before 1938, the <abbr class="spell">FRA</abbr> is 65. The 1983 amendments set the <abbr class="spell">FRA</abbr> for individuals born in 1938 at 65 and 2 months. For members of each successive cohort from 1939 to 1943, the <abbr class="spell">FRA</abbr> increases by 2 months. The <abbr class="spell">FRA</abbr> for people born from 1943 through 1954 is 66. Further incremental <abbr class="spell">FRA</abbr> increases affect individuals born during <span class="nobr">1955–1960,</span> and the <abbr class="spell">FRA</abbr> is 67 for people born in 1960 or later. There is a financial incentive for workers born after 1937 to delay claiming until after age 62. Relative to a benefit claimed at <abbr class="spell">FRA</abbr>, the amount of a retired-worker monthly benefit claimed at age 62 is reduced by 20 percent for individuals whose <abbr class="spell">FRA</abbr> is 65, by 25 percent for those whose <abbr class="spell">FRA</abbr> is 66, and by 30 percent for those whose <abbr class="spell">FRA</abbr> is 67.</p>
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<h2 id="appendixB">Appendix B: The <abbr class="spell">RET</abbr> and <abbr class="spell">DRC</abbr>s</h2>
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<p>The Social Security <abbr class="spell">RET</abbr> reduces the monthly benefits of retired-worker beneficiaries who are younger than <abbr class="spell">FRA</abbr> and have earnings that exceed certain thresholds. Benefits withheld under the <abbr class="spell">RET</abbr> are eventually restored by means of an upward adjustment in the monthly benefit amount beginning when the beneficiary attains <abbr class="spell">FRA</abbr>. Until 2000, the earnings test applied to all beneficiaries younger than 70. The Senior Citizens' Freedom to Work Act (<abbr>P.L.</abbr> <span class="nobr">106-182)</span> eliminated the <abbr class="spell">RET</abbr> for people who have reached <abbr class="spell">FRA</abbr>, effective January 1, 2000. Workers who had attained their <abbr class="spell">FRA</abbr> as of that date but had deferred claiming Social Security benefits (because their earnings would have resulted in a benefit reduction) now had an incentive to apply for benefits immediately. Thus, the repeal of the <abbr class="spell">RET</abbr> for workers who had reached <abbr class="spell">FRA</abbr> was followed by a temporary increase in benefit claims among persons aged <span class="nobr">65–69</span> who were working and had deferred claiming retired-worker benefits.</p>
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<p>Workers who delay claiming benefits until after they reach <abbr class="spell">FRA</abbr> earn <abbr class="spell">DRC</abbr>s that permanently increase their monthly Social Security retired-worker benefit amount. <abbr class="spell">DRC</abbr>s thereby provide a financial incentive for workers to remain employed and defer claiming. In 1977, Congress set the <abbr class="spell">DRC</abbr> at 3 percent per year. This meant that benefits were permanently increased by 3 percent for each full year that a worker delayed claiming beyond age 65. However, 3 percent was less than actuarially fair as a permanent benefit increase, and thus did not provide a strong financial incentive to delay claiming beyond the <abbr class="spell">FRA</abbr>. The 1983 Social Security Amendments mandated a gradual increase in <abbr class="spell">DRC</abbr>s beginning in 1990. For persons born in 1943 or later, the <abbr class="spell">DRC</abbr> is 8 percent per year up to age 70, which when enacted was actuarially fair for the average worker.</p>
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<p>The <abbr class="spell">LFPR</abbr> among both men and women aged <span class="nobr">65–69</span> has risen in recent years, and the proportion of men aged <span class="nobr">65–69</span> who receive Social Security retired-worker benefits has fallen. These trends may result in part from the additional incentive to defer claiming benefits that was created by the increase in <abbr class="spell">DRC</abbr>s.</p>
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<h2 id="appendixC">Appendix C: The File-and-Suspend Strategy</h2>
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<p>Until 2016, some two-earner couples engaged in a claiming strategy in which one earner would file for and then suspend his or her retired-worker benefit so that the other earner could claim a spousal benefit. This strategy allowed both members of the couple to delay receiving retired-worker benefits based on their own earning records, thus allowing them to earn <abbr class="spell">DRC</abbr>s while receiving an aged-spouse benefit. Section 831 of the Bipartisan Budget Act of 2015 (<abbr>P.L.</abbr> <span class="nobr">114-74)</span> eliminated the file-and-suspend strategy in 2016. Insured spouses are no longer able to delay their retired-worker benefits while receiving aged-spouse benefits. This amendment may have affected retired-worker claiming trends after 2015.</p>
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<div id="notes">
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<h2>Notes</h2>
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<p> <a href="#mt1" id="mn1">1</a> Some people who report that they are neither employed nor looking for work may be employed in the “underground” or “shadow” economy.</p>
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<p> <a href="#mt2" id="mn2">2</a> A number of studies have examined the demographic, social, and economic factors that have contributed to the increase in the <abbr class="spell">LFPR</abbr> among women aged <span class="nobr">25–54</span> and the decline in the <abbr class="spell">LFPR</abbr> among men in that age group over the last several decades. See, for example, Juhn and Potter (2006), Aaronson and others (2014), Council of Economic Advisors (2014), and Social Security Advisory Board (2015).</p>
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<p> <a href="#mt3" id="mn3">3</a> Retired-worker beneficiaries include those entitled solely to a retired-worker benefit and those who are dually entitled to a retired-worker benefit and a spouse's or <span class="nobr">widow(er)'s</span> benefit.</p>
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<p> <a href="#mt4" id="mn4">4</a> For example, in 2018, retired-worker benefits were awarded to 1,581,391 men aged 62 or older. Of this number, 264,844 were conversions from disabled-worker benefits to retired-worker benefits at <abbr class="spell">FRA</abbr>. Of the 1,316,547 net new retired-worker benefit awards, 432,821 (32.9 percent) were awarded to men who were 62 years old at that time (<abbr class="spell">SSA</abbr> 2019, Table 6.A4). </p>
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<p> <a href="#mt5" id="mn5">5</a> Data on claims by age in the <i>Annual Statistical Supplement</i> are based on age in the month of the claim. Charts <span class="nobr">3–5</span> in this note follow the convention used by <abbr class="spell">OCACT</abbr> in preparing the annual <i>Trustees Reports</i> by using age at the end of the calendar year.</p>
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<p> <a href="#mt6" id="mn6">6</a> Disability Insurance benefits automatically convert to retired-worker benefits when the beneficiary reaches his or her <abbr class="spell">FRA</abbr>. This does not change the amount of the benefit. It affects only the classification of benefit type.</p>
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<p> <a href="#mt7" id="mn7">7</a> As noted earlier, the <span class="nobr">long-term</span> shift in employment to jobs that require relatively less physical strength, changes in the design of pension plans, and the decline in the availability of employer-sponsored retiree health insurance are some of the other factors that may have contributed to the trend toward later claiming of Social Security benefits.</p>
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<p> <a href="#mt8" id="mn8">8</a> Until 2000, the earnings test applied to all beneficiaries younger than 70. In 2020, benefits for individuals younger than <abbr class="spell">FRA</abbr> are reduced by $1 for every $2 earned above $18,240. A less restrictive earnings test applies in the year the worker attains <abbr class="spell">FRA</abbr>. The amount reduced is restored in the form of an increased monthly benefit when the individual reaches <abbr class="spell">FRA</abbr>. <a href="#appendixB">Appendix B</a> provides further detail on the <abbr class="spell">RET</abbr>. </p>
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<p> <a href="#mt9" id="mn9">9</a> Although <abbr class="spell">DI</abbr> benefits may be paid to dependents or survivors, this analysis is restricted to benefits paid to the disabled workers themselves. </p>
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<p><a href="#mt10" id="mn10">10</a> To be eligible for <abbr class="spell">DI</abbr> benefits, an individual must have earned one credit for each calendar year after age 21 and have earned at least 20 credits during the last 10 years. Fewer credits are required for workers younger than 31. </p>
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</div>
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<div id="references">
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<h2>References</h2>
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<p>Aaronson, Stephanie, Tomaz Cajner, Bruce Fallick, Felix Galbis-Reig, Christopher Smith, and William Wascher. 2014. “Labor Force Participation: Recent Developments and Future Prospects.” <i>Brookings Papers on Economic Activity</i> (Fall): <span class="nobr">177–255.</span></p>
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<p>[<abbr class="spell">BLS</abbr>] Bureau of Labor Statistics. <abbr>n.d.</abbr> “Frequently Asked Questions.” https://www.bls.gov/gps/gpsfaqs.htm#Ques2.</p>
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<p>Census Bureau. 2017. “2017 National Population Projections Tables.” <a href="https://census.gov/data/tables/2017/demo/popproj/2017-summary-tables.html">https://census.gov/data/tables/2017/demo/popproj/2017-summary-tables.html</a>.</p>
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<p>———. <abbr>n.d.</abbr> “About the Current Population Survey.” <a href="https://www.census.gov/programs-surveys/cps/about.html">https://www.census.gov/programs-surveys/cps/about.html</a>.</p>
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<p>Council of Economic Advisors. 2014. <i>The Labor Force Participation Rate Since 2007: Causes and Policy Implications.</i> Washington, <abbr class="spell">DC</abbr>: <abbr class="spell">CEA</abbr>.</p>
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<p>Juhn, Chinhui, and Simon Potter. 2006. “Changes in Labor Force Participation in the United States.” <i>Journal of Economic Perspectives</i> 20(3): <span class="nobr">27–46.</span></p>
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<p>Munnell, Alicia H., and Anqi Chen. 2015. “Trends in Social Security Claiming.” Issue in Brief <abbr title="Number">No.</abbr> <span class="nobr">15-8.</span> Chestnut Hill, <abbr title="Massachusetts">MA</abbr>: Center for Retirement Research at Boston College. <a href="https://crr.bc.edu/wp-content/uploads/2015/05/IB_15-8.pdf">https://crr.bc.edu/wp-content/uploads/2015/05/IB_15-8.pdf</a>.</p>
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<p>Purcell, Patrick J. 2016. “<a href="/policy/docs/ssb/v76n4/v76n4p1.html">Employment at Older Ages and Social Security Benefit Claiming</a>.” <i>Social Security Bulletin</i> 76(4): <span class="nobr">1–17.</span></p>
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<p>Social Security Administration. 2019. <i>Annual Statistical Supplement to the Social Security Bulletin, 2019.</i> <abbr class="spell">SSA</abbr> Publication <abbr title="Number">No.</abbr> <span class="nobr">13-11700.</span> Washington, <abbr class="spell">DC</abbr>: <abbr class="spell">SSA</abbr>. <a href="/policy/docs/statcomps/supplement/2019/index.html">https://www.ssa.gov/policy/docs/statcomps/supplement/2019/index.html</a>.</p>
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<p>Social Security Advisory Board. 2015. <i>Report to the Board: 2015 Technical Panel on Assumptions and Methods.</i> Washington, <abbr class="spell">DC</abbr>: <abbr class="spell">SSAB</abbr>. <a href="https://www.ssab.gov/research/report-to-the-board-2015-technical-panel-on-assumptions-and-methods/">https://www.ssab.gov/research/report-to-the-board-2015-technical-panel-on-assumptions-and-methods/</a>.</p>
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<p><abbr class="spell">SSA</abbr>. <i>See</i> Social Security Administration.</p>
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