Comparison of 2% private account, Current OASI benefit, What was paid and what will be paid by age.
Date: Wed, 26 May 1999 23:14:47 -0400 (EDT)
From: Bill Larsen <dadbill@surfnet1.net>
Subject: Comparison of 2% private account, Current OASI benefit, What was paid and what will be paid by age.
I have put together another table showing the 2% private account option using the SSA life expectancy tables from 1900 till 2080. The numbers change a little from an earlier table. Again this uses the US treasury rate as reported by SSA that was paid/credited to OASI from 1937 till present. It also uses the SSA data on average wage for each year and the OASI benefit formula to calculate the average OASI benefit.
In addition I have recalculated the present value of the OASI benefit cash flow for each year and used this in conjunction to determine what percent cut should be made to account for the 2% private account.
Take a look and comment. I would appreciate any comments and would like to see what others have calculated on this discussed option. Numbers speak louder than words.
