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Summary Measures and Graphs

Description of Proposed Provision:
Beginning with those newly eligible for OASI benefits in 2026, multiply the PIA factors by the ratio of life expectancy at 67 for 2021 to the life expectancy at age 67 for the 4th year prior to the year of benefit eligibility. Unisex life expectancies, based on period life tables as computed by SSA's Office of the Chief Actuary, are used to determine the ratio. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.

Estimates based on the intermediate assumptions of the 2016 Trustees Report

Summary Measures
Present law
[percent of payroll]
Change from present law
[percent of payroll]
Shortfall eliminated
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
-2.66 -4.35 0.53 1.68 20% 39%


graph of OASDI cost rates and income rates by year, under
                 present law and provision. click on graph to view underlying
                 data. graph of OASDI trust fund ratio by year, under present law
                 and provision. click on graph to view underlying data.
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Last reviewed or modified June 16, 2016