Replacement rates are lower for high earners

Social Security Replacement Rate (% Average Lifetime Earnings)

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Source: Congressional Budget OfficeEmbed Download image

Notes: Past earnings are adjusted for average growth in economy-wide earnings. Replacement rates are for all individuals eligible to claim retirement benefits at age 62 and who have not yet claimed any other benefit. All workers are assumed to claim benefits at age 65. All values are net of income taxes paid on benefits.