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Detailed Single Year Tables

Description of Proposed Provision:
Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2023: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in the SSA average wage index.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.09-1.93
183
0.000.000.00
202515.2813.11-2.17
166
-0.010.000.01
202615.4513.13-2.33
149
-0.020.000.02
202715.6213.14-2.48
132
-0.030.000.03
202815.7713.15-2.61
116
-0.050.000.05
202915.9013.17-2.73
99
-0.070.000.07
203016.0113.18-2.83
82
-0.100.000.09
203116.0913.18-2.91
66
-0.13-0.010.12
203216.1613.19-2.97
48
-0.17-0.010.16
203316.2013.20-3.00
31
-0.21-0.010.20
203416.2113.20-3.01
13
-0.25-0.010.24
203516.1913.20-2.99
----
-0.30-0.020.29
203616.2013.20-3.00
----
-0.36-0.020.34
203716.1913.21-2.98
----
-0.41-0.020.39
203816.1413.21-2.94
----
-0.47-0.020.45
203916.0813.20-2.87
----
-0.53-0.030.51
204015.9913.20-2.79
----
-0.60-0.030.57
204115.9013.20-2.70
----
-0.66-0.030.63
204215.8013.19-2.61
----
-0.73-0.040.69
204315.7013.19-2.51
----
-0.80-0.040.76
204415.5913.18-2.41
----
-0.88-0.050.83
204515.5013.18-2.32
----
-0.95-0.050.90
204615.3913.18-2.22
----
-1.03-0.050.98
204715.2913.17-2.12
----
-1.11-0.061.05
204815.1913.17-2.02
----
-1.19-0.061.13
204915.0913.16-1.93
----
-1.28-0.071.21
205015.0013.16-1.84
----
-1.36-0.071.29
205114.9113.16-1.76
----
-1.45-0.081.37
205214.8413.15-1.68
----
-1.53-0.081.45
205314.7713.15-1.62
----
-1.62-0.091.54
205414.7113.15-1.56
----
-1.72-0.091.62
205514.6613.15-1.51
----
-1.81-0.101.71
205614.6113.14-1.46
----
-1.90-0.101.80
205714.5613.14-1.42
----
-1.99-0.111.88
205814.5213.14-1.38
----
-2.08-0.111.97
205914.4813.14-1.34
----
-2.17-0.122.06
206014.4413.14-1.30
----
-2.26-0.122.14
206114.4013.14-1.27
----
-2.35-0.132.22
206214.3713.14-1.23
----
-2.44-0.132.31
206314.3313.13-1.19
----
-2.53-0.142.39
206414.2913.13-1.16
----
-2.61-0.142.47
206514.2613.13-1.13
----
-2.70-0.152.55
206614.2313.13-1.09
----
-2.78-0.152.63
206714.1913.13-1.06
----
-2.87-0.162.71
206814.1613.13-1.03
----
-2.95-0.162.79
206914.1313.13-1.00
----
-3.03-0.172.87
207014.1013.13-0.98
----
-3.12-0.172.94
207114.0713.12-0.94
----
-3.20-0.183.02
207214.0313.12-0.91
----
-3.27-0.183.09
207313.9913.12-0.87
----
-3.35-0.183.17
207413.9413.12-0.83
----
-3.43-0.193.24
207513.8913.12-0.78
----
-3.50-0.193.30
207613.8413.11-0.72
----
-3.57-0.203.37
207713.7813.11-0.67
----
-3.63-0.203.43
207813.7113.11-0.60
----
-3.70-0.203.49
207913.6513.10-0.54
----
-3.76-0.213.55
208013.5813.10-0.48
----
-3.82-0.213.61
208113.5213.10-0.42
----
-3.88-0.213.67
208213.4613.09-0.37
----
-3.95-0.223.73
208313.4113.09-0.32
----
-4.01-0.223.79
208413.3613.09-0.27
----
-4.08-0.233.85
208513.3213.09-0.24
----
-4.15-0.233.92
208613.2913.08-0.20
----
-4.22-0.233.98
208713.2613.08-0.17
----
-4.29-0.244.05
208813.2313.08-0.15
----
-4.36-0.244.11
208913.2013.08-0.12
----
-4.43-0.254.18
209013.1813.08-0.10
----
-4.50-0.254.25
209113.1613.08-0.08
----
-4.56-0.254.31



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 14.92% 13.76% -1.16%
2034
-1.58% -0.08% 1.50%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016