Appendix Table  29:
The Impact of Potential OASI Reforms on Average Benefits
                               College (r=5%)                    

Quintile of Average Benefits                     Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                  3913.  8656. 17234. 10821.
 1 38% Tax Hike Beginning in Year 2000            3913.  8656. 17234. 10821.
 2 25% Benefit Cut Beginning in Year 2000         2934.  6515. 13009.  8170.
 3 Acclerated Increase in NRA                     2977.  6977. 13757.  8515.
 4 CPI Indexing of Covered Earnings               3564.  7878. 16227. 10086.
 5 Indexing Benefits by CPI Minus 1%              3509.  7723. 15439.  9637.
 6 Stabilize Real Per Capita Benefits             3463.  7674. 15253.  9596.
 7 Freeze Bend Points in Real Terms               3783.  8413. 16536. 10410.
 8 Eliminate Earnings Ceiling                     3913.  8699. 19135. 11391.
 9 Eliminate Earnings Ceiling w/o Benefit Change  3913.  8656. 17234. 10821.
10 Increase Computation Years from 35 to 40       3738.  8300. 16774. 10456.
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                  3780.  9240. 20453. 11688.
 1 38% Tax Hike Beginning in Year 2000            3780.  9240. 20453. 11688.
 2 25% Benefit Cut Beginning in Year 2000         2841.  7007. 15368.  8818.
 3 Acclerated Increase in NRA                     3062.  7808. 17320.  9817.
 4 CPI Indexing of Covered Earnings               3313.  8483. 19215. 10824.
 5 Indexing Benefits by CPI Minus 1%              3379.  8225. 18108. 10349.
 6 Stabilize Real Per Capita Benefits             2304.  5747. 12475.  7170.
 7 Freeze Bend Points in Real Terms               3441.  8324. 17716. 10257.
 8 Eliminate Earnings Ceiling                     3781.  9362. 28813. 13908.
 9 Eliminate Earnings Ceiling w/o Benefit Change  3780.  9240. 20453. 11688.
10 Increase Computation Years from 35 to 40       3580.  8939. 20108. 11329.
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                  4990. 12284. 27035. 15569.
 1 38% Tax Hike Beginning in Year 2000            4990. 12284. 27035. 15569.
 2 25% Benefit Cut Beginning in Year 2000         3751.  9320. 20311. 11708.
 3 Acclerated Increase in NRA                     4075. 10370. 23770. 13294.
 4 CPI Indexing of Covered Earnings               4408. 11202. 25354. 14387.
 5 Indexing Benefits by CPI Minus 1%              4472. 10907. 24178. 13864.
 6 Stabilize Real Per Capita Benefits             1234.  3146.  6942.  3970.
 7 Freeze Bend Points in Real Terms               4124. 10153. 21383. 12387.
 8 Eliminate Earnings Ceiling                     4984. 12463. 37746. 18462.
 9 Eliminate Earnings Ceiling w/o Benefit Change  4990. 12284. 27035. 15569.
10 Increase Computation Years from 35 to 40       4658. 11823. 26533. 15091.
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Source: Author's calculations.