Retirement Social Security

The ‘Bernie Bump’ Promises $2,400 More in Social Security - Millions Could Get Just $40

The math behind the 'Bernie Bump' means varied results for beneficiaries.

By Paige Cerulli , Edited by Laura Hohenstein

Updated Sept. 19, 2026

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A promise of a $2,400 "Bernie Bump" to Social Security senior benefits has near-retirees rewriting their filing plans and reconsidering their filing dates, but doing so might be a mistake. There's a significant gap between the $2,400 promise and the actual mechanics of how the formula might work, plus the proposal isn't law yet.

Before you get swept up in the excitement of potential extra benefits, here's what you need to know about how the legislation might work, how it might affect your benefits, and what you should consider in determining your retirement plan.

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The breakdown of the numbers

The "Bernie Bump" refers to a proposal that's part of Senator Bernie Sanders' Social Security Expansion Act, which was introduced in February 2025. The legislation doesn't add a flat $200 onto recipients' benefits, but instead would change the benefit formula. If enacted, the bill would increase the first replacement factor in the Social Security benefit formula, increasing it from 90% to 95%; that formula would be applied to a larger portion of a beneficiary's career earnings.

According to the Social Security Administration's analysis of the formula from an earlier version of the bill, some very low earners could potentially see a bump of about 15%, while maximum earners might see an increase of about 5%. Some beneficiaries might get about $200 more a month, while others might get about $40 extra per month.

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Why the formula matters for filing strategy

The idea of the increase has near-retirees rethinking when they should claim Social Security benefits, but it's important to understand that the percentage deduction for claiming benefits early and the credits for delayed retirement both apply to the higher base. In other words, the same percentages for deductions and increases apply to the new benefit amounts.

For example, if an individual retired at 62 and claimed their benefits early, they would still experience the 30% benefit reduction; it would just be applied to the benefits that were calculated using the new formula. If an individual retired at age 67, they would receive their full benefit amount under the new formula. And if the individual delayed retirement and claimed their benefits at age 70, they would receive a 24% credit for delaying those benefits. The math doesn't change, and only the cash flow shifts.

The issue of Social Security's Trust Fund depletion

According to the Social Security Trustees' 2026 report, the Old-Age and Survivors Insurance (OASI) trust fund may become depleted as early as the fourth quarter of 2032. At that point, the Social Security program's revenue would only be sufficient to pay 78% of total scheduled benefits, a scenario which may result in an automatic benefits reduction of about 22%.

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Funding Social Security under the proposed bill

Sanders' office reports that the Social Security Expansion Act would help keep the Social Security Trust Fund solvent for 75 years, thanks to two changes to the program's revenue. The bill would apply the Social Security payroll tax to all income for individuals making more than $250,000 per year. Currently, the tax is capped and only applies to the first $184,500 an individual makes in a year. The bill would also raise the net investment income tax from 3.8% to 16.2% for affected taxpayers, helping to generate additional program revenue.

According to Sanders' office, 91% of households earning $250,000 or less would not experience a tax increase if the bill were enacted.

The status of the bill

The bill has been stalled in the Senate Finance Committee since February 2025 and has not received a vote. As a result, current beneficiary rules have not changed, and the formula suggested by the bill has not been applied.

The bill remains a proposal at this time, and it needs to be approved by Congress and signed into law before any benefits changes could take place. Near-retirees or retirees who change their plans about when to claim Social Security based on the bill's potential could permanently cost themselves real benefits.

The pressure to preserve Social Security

Congress is under mounting pressure to identify a solution to preserve Social Security and avoid benefit reductions, and Sanders' proposal is one of several suggestions that legislators have put forward.

"If Congress does not act within the next six years, Social Security benefits will be cut by 22 percent," Sanders wrote in a letter on August 3. "We have an obligation to the American people to ensure that never happens."

Congress has yet to back a single solution or a combination of proposed solutions.

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Bottom line

There are many factors to consider when deciding when to claim Social Security benefits, including your financial situation, your projected lifespan, and your overall retirement plan. Before you decide when to claim benefits, check to make sure that any policy you're considering in the decision is current law. Then, consider what your Social Security numbers from the my Social Security tool say you'd receive if you claimed at age 62, full retirement age, or age 70. If you plan to work before you reach full retirement age, check to see how the earnings test might affect your ages and your benefits.

Your Social Security benefits and other income may have tax implications, too, so consider running your plan by a tax professional. A financial planner may also be able to help review your retirement plan and make sure that you're on track to meet your retirement goals.

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