"Fair adjustment schedules are increasing at an increasing rate in take-up age and become flatter as longevity rises. [The authors] document that the actuarial fit has improved across generations.... [They] predict that the designated increase in the [full retirement age] to age 67 will have little effect on the actuarial fit. [They] investigate schedules reflecting (further) increases in the retirement ages, as recommended by the President's 2010 Fiscal Commission, and propose alternatives. [They] also discuss results from the analysis of the adjustments to spousal and widow(er) benefits." [Working paper no. 2014-307]