Social Security Change Over Time

Now that I'm looking closer, I notice that the Social Security dollar amount declines over time. It appears to be doing it at compounded rate of -3.03%. Inflation is set at 3.1% in my ESP. I'm assuming this is because ESP expresses future amounts in real dollars. Is the assumed inflation offset due to "annual" Social Security increases only valued at 0.08%? Is this a recent change or is something amiss?

Comments

dan royer's picture

The reports are in real dollars--so you should see this benefit amount stay the same each year down the column. Perhaps there's a reason I'm not thinking about that would cause this benefit to decline in real terms each year--perhaps related to a govt pension offset? You should see the dollar amount hold stead down the column.

dan royer's picture

We just located a bug where if you have set the current year to be the future, say 2017 in Tools/Options then you will see this error you report. So change that back to 2016 (or uncheck that box to change the starting year) and things should be right again. The fix will be in the next release.

I am running with a future date, so that sounds like it would the reason for what I am seeing. I'm away until next week, so I won't be to retry with the date change I'm back. Thanks!

I did the run with a 2016 start year and the Social Security amounts stay steady. Thanks, again. I'll wait for the next update before continuing to play with the start year.

dan royer's picture

That update is in place now. Go ahead and download/install again.

Dan

Thanks, Dan, for a quick fix. I've already downloaded and tried it. It looks fine!

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