Proposed Provision: Beginning with those newly eligible for OASDI benefits in 2015, use a modified primary insurance amount (PIA) formula. The modified formula: (1) increases the first bend point to the equivalent of $800 in 2009; (2) places a new bend point 75 percent of the way between the reset first bend point and the current-law second bend point; (3) lowers the PIA factor between the new bend point and the upper bend point from 32 percent to 20 percent; and (4) lowers the factor above the upper bend point from 15 percent to 10 percent.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201412.712.714.014.0
201512.912.914.014.0
201612.912.914.014.0
201712.912.914.014.0
201812.912.914.014.0
201912.912.914.114.1
202013.013.014.314.3
202113.013.014.514.4
202213.013.014.714.7
202313.013.015.014.9
202413.113.015.315.2
202513.113.115.515.4
202613.113.115.815.6
202713.113.116.015.9
202813.113.116.216.1
202913.113.116.416.2
203013.113.116.616.4
203113.213.116.716.5
203213.213.216.916.6
203313.213.217.016.7
203413.213.217.016.8
203513.213.217.116.8
203613.213.217.116.9
203713.213.217.116.9
203813.213.217.116.9
203913.213.217.116.8
204013.213.217.116.8
204113.213.217.016.8
204213.213.217.016.7
204313.213.217.016.7
204413.213.217.016.7
204513.213.216.916.6
204613.213.216.916.6
204713.213.216.916.6
204813.213.216.916.6
204913.213.216.916.6
205013.213.216.916.6
205113.213.216.916.6
205213.213.216.916.6
205313.213.216.916.6
205413.213.217.016.7
205513.213.217.016.7
205613.213.217.116.8
205713.213.217.116.8
205813.213.217.216.9
205913.213.217.216.9
206013.213.217.317.0
206113.213.217.317.0
206213.213.217.417.1
206313.213.217.417.1
206413.213.217.417.2
206513.213.217.517.2
206613.213.217.517.3
206713.313.217.617.3
206813.313.217.617.3
206913.313.217.717.4
207013.313.217.717.4
207113.313.217.817.5
207213.313.217.817.5
207313.313.317.817.5
207413.313.317.917.6
207513.313.317.917.6
207613.313.317.917.6
207713.313.317.917.6
207813.313.317.917.6
207913.313.317.917.6
208013.313.317.917.6
208113.313.317.917.6
208213.313.317.917.6
208313.313.318.017.7
208413.313.318.017.7
208513.313.318.017.7
208613.313.318.117.8
208713.313.318.117.8
208813.313.318.217.9
208913.313.318.217.9
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