Proposed Provision: Multiply all PIA formula factors successively by 0.991 for new benefit eligibility in each year 2014 through 2042. Disabled workers and young survivors (surviving spouses with a child-in-care and survivor children) would not be affected by this provision. Upon conversion from disabled worker to retired worker benefits, benefit levels would be proportionally reduced based on the fraction of years the individual was not disabled between ages 22 and 62.

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

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201012.312.313.113.1
201112.912.913.013.0
201212.912.912.812.8
201312.912.912.812.8
201412.912.912.912.9
201512.912.913.013.0
201613.013.013.113.1
201713.013.013.313.3
201813.013.013.513.5
201913.013.013.813.8
202013.013.014.114.1
202113.113.114.514.3
202213.113.114.714.6
202313.113.115.014.8
202413.113.115.315.0
202513.113.115.515.2
202613.113.115.815.4
202713.213.116.015.5
202813.213.116.115.6
202913.213.216.315.7
203013.213.216.415.8
203113.213.216.515.8
203213.213.216.615.8
203313.213.216.715.8
203413.213.216.715.8
203513.213.216.715.7
203613.213.216.715.6
203713.213.216.715.5
203813.213.216.715.4
203913.213.216.715.3
204013.213.116.615.2
204113.213.116.615.1
204213.213.116.614.9
204313.213.116.514.8
204413.213.116.514.7
204513.213.116.414.6
204613.213.116.414.4
204713.213.116.414.3
204813.213.116.414.2
204913.213.116.414.1
205013.213.116.314.0
205113.213.116.314.0
205213.213.116.313.9
205313.213.116.313.8
205413.213.116.313.8
205513.213.116.413.7
205613.213.116.413.7
205713.213.116.413.7
205813.213.116.413.7
205913.213.116.513.6
206013.213.116.513.6
206113.213.116.513.6
206213.213.116.513.6
206313.213.116.613.6
206413.313.116.613.6
206513.313.116.613.6
206613.313.116.713.6
206713.313.116.713.6
206813.313.116.713.7
206913.313.116.813.7
207013.313.116.813.7
207113.313.116.813.7
207213.313.116.913.8
207313.313.116.913.8
207413.313.117.013.8
207513.313.117.013.9
207613.313.117.113.9
207713.313.117.113.9
207813.313.117.214.0
207913.313.117.214.0
208013.313.117.314.0
208113.313.117.314.1
208213.313.117.314.1
208313.313.117.414.1
208413.313.117.414.2
208513.313.117.514.2
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