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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 OASI benefits in 2020: 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. 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.

 

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
202114.2713.00-1.26
231
0.000.000.00
202214.4813.03-1.45
216
-0.010.000.01
202314.7413.06-1.68
200
-0.020.000.01
202415.0013.09-1.91
183
-0.030.000.03
202515.2413.11-2.13
166
-0.040.000.04
202615.4113.12-2.28
150
-0.060.000.06
202715.5613.14-2.42
134
-0.090.000.09
202815.6913.15-2.54
117
-0.13-0.010.12
202915.8013.16-2.64
101
-0.16-0.010.15
203015.9013.17-2.73
85
-0.20-0.010.19
203115.9713.18-2.80
69
-0.25-0.010.24
203216.0313.18-2.85
52
-0.30-0.020.28
203316.0613.19-2.87
35
-0.35-0.020.33
203416.0613.19-2.87
18
-0.40-0.020.38
203516.0413.19-2.85
1
-0.46-0.030.43
203616.0413.19-2.84
----
-0.52-0.030.49
203716.0213.19-2.82
----
-0.58-0.030.55
203815.9713.19-2.78
----
-0.64-0.040.61
203915.9013.19-2.71
----
-0.71-0.040.67
204015.8213.19-2.63
----
-0.77-0.040.73
204115.7313.19-2.54
----
-0.83-0.050.79
204215.6313.18-2.45
----
-0.90-0.050.85
204315.5313.18-2.35
----
-0.97-0.050.91
204415.4313.17-2.26
----
-1.04-0.060.98
204515.3413.17-2.17
----
-1.11-0.061.05
204615.2413.16-2.08
----
-1.18-0.071.12
204715.1513.16-1.99
----
-1.26-0.071.19
204815.0513.16-1.90
----
-1.33-0.081.26
204914.9613.15-1.81
----
-1.41-0.081.33
205014.8813.15-1.73
----
-1.48-0.081.40
205114.8013.14-1.66
----
-1.56-0.091.47
205214.7413.14-1.59
----
-1.64-0.091.54
205314.6813.14-1.54
----
-1.71-0.101.62
205414.6313.14-1.49
----
-1.79-0.101.69
205514.5913.14-1.45
----
-1.87-0.111.77
205614.5513.14-1.42
----
-1.96-0.111.84
205714.5213.13-1.39
----
-2.04-0.121.92
205814.4913.13-1.36
----
-2.12-0.122.00
205914.4613.13-1.33
----
-2.20-0.132.07
206014.4313.13-1.30
----
-2.27-0.132.14
206114.4113.13-1.27
----
-2.35-0.132.22
206214.3813.13-1.25
----
-2.43-0.142.29
206314.3513.13-1.22
----
-2.50-0.142.36
206414.3313.13-1.20
----
-2.58-0.152.43
206514.3013.13-1.18
----
-2.65-0.152.50
206614.2813.13-1.16
----
-2.72-0.162.57
206714.2613.13-1.14
----
-2.80-0.162.64
206814.2413.13-1.12
----
-2.87-0.162.71
206914.2213.12-1.10
----
-2.94-0.172.78
207014.2013.12-1.08
----
-3.02-0.172.84
207114.1813.12-1.05
----
-3.09-0.182.91
207214.1513.12-1.03
----
-3.16-0.182.97
207314.1213.12-1.00
----
-3.22-0.193.04
207414.0813.12-0.96
----
-3.29-0.193.10
207514.0413.12-0.92
----
-3.35-0.193.16
207613.9913.11-0.88
----
-3.41-0.203.22
207713.9413.11-0.83
----
-3.47-0.203.27
207813.8913.11-0.78
----
-3.52-0.203.32
207913.8313.11-0.73
----
-3.57-0.213.37
208013.7813.10-0.67
----
-3.62-0.213.42
208113.7313.10-0.63
----
-3.68-0.213.46
208213.6813.10-0.58
----
-3.73-0.213.51
208313.6413.09-0.54
----
-3.78-0.223.56
208413.6013.09-0.51
----
-3.84-0.223.62
208513.5713.09-0.48
----
-3.89-0.223.67
208613.5513.09-0.46
----
-3.95-0.233.73
208713.5313.09-0.44
----
-4.01-0.233.78
208813.5113.09-0.42
----
-4.07-0.243.84
208913.4913.09-0.41
----
-4.14-0.243.90
209013.4813.09-0.39
----
-4.20-0.243.96
209113.4613.09-0.38
----
-4.26-0.254.01



 

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 14.91% 13.76% -1.15%
2035
-1.60% -0.09% 1.51%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016