Appendix Table 27: The Impact of Potential OASI Reforms on Average Benefits White (r=5%) Quintile of Average Benefits Lowest Middle Highest All Birth Cohort 1945-49 0 Current Rules 3820. 8605. 17247. 9651. 1 38% Tax Hike Beginning in Year 2000 3820. 8605. 17247. 9651. 2 25% Benefit Cut Beginning in Year 2000 2866. 6521. 12994. 7292. 3 Acclerated Increase in NRA 2871. 6891. 13704. 7642. 4 CPI Indexing of Covered Earnings 3458. 7882. 16282. 8973. 5 Indexing Benefits by CPI Minus 1% 3440. 7674. 15447. 8620. 6 Stabilize Real Per Capita Benefits 3381. 7640. 15288. 8566. 7 Freeze Bend Points in Real Terms 3701. 8358. 16540. 9306. 8 Eliminate Earnings Ceiling 3820. 8651. 18807. 10006. 9 Eliminate Earnings Ceiling w/o Benefit Change 3820. 8605. 17247. 9651. 10 Increase Computation Years from 35 to 40 3610. 8270. 16785. 9312. Birth Cohort 1970-74 0 Current Rules 3750. 9338. 20323. 10820. 1 38% Tax Hike Beginning in Year 2000 3750. 9338. 20323. 10820. 2 25% Benefit Cut Beginning in Year 2000 2816. 7070. 15286. 8154. 3 Acclerated Increase in NRA 3031. 7795. 17227. 9058. 4 CPI Indexing of Covered Earnings 3273. 8532. 19126. 9995. 5 Indexing Benefits by CPI Minus 1% 3347. 8245. 18012. 9593. 6 Stabilize Real Per Capita Benefits 2271. 5761. 12415. 6635. 7 Freeze Bend Points in Real Terms 3400. 8371. 17604. 9496. 8 Eliminate Earnings Ceiling 3753. 9427. 27263. 12315. 9 Eliminate Earnings Ceiling w/o Benefit Change 3750. 9338. 20323. 10820. 10 Increase Computation Years from 35 to 40 3508. 8970. 19988. 10484. Birth Cohort 1995-00 0 Current Rules 4958. 12227. 27119. 14507. 1 38% Tax Hike Beginning in Year 2000 4958. 12227. 27119. 14507. 2 25% Benefit Cut Beginning in Year 2000 3718. 9280. 20384. 10917. 3 Acclerated Increase in NRA 4020. 10375. 23792. 12388. 4 CPI Indexing of Covered Earnings 4378. 11195. 25425. 13396. 5 Indexing Benefits by CPI Minus 1% 4432. 10876. 24256. 12933. 6 Stabilize Real Per Capita Benefits 1225. 3139. 6972. 3689. 7 Freeze Bend Points in Real Terms 4098. 10117. 21427. 11558. 8 Eliminate Earnings Ceiling 4964. 12380. 36285. 16579. 9 Eliminate Earnings Ceiling w/o Benefit Change 4958. 12227. 27119. 14507. 10 Increase Computation Years from 35 to 40 4648. 11751. 26626. 14050. ____________________________________________________________________________ Source: Author's calculations.