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Detailed Single Year Tables

Description of Proposed Provision:
Progressive indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2019, continuing through 2068: 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 is reduced by 1.21 percent per year as compared to current law (for the years that progressive indexing applies). 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.

 

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
232
-0.010.000.01
202214.4813.03-1.45
216
-0.010.000.01
202314.7413.06-1.68
200
-0.020.000.02
202414.9913.09-1.90
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
-0.090.000.08
202815.7013.15-2.55
117
-0.12-0.010.11
202915.8213.16-2.66
101
-0.15-0.010.14
203015.9213.17-2.75
85
-0.18-0.010.17
203116.0013.18-2.82
69
-0.22-0.010.21
203216.0613.18-2.88
52
-0.27-0.010.25
203316.1013.19-2.91
35
-0.31-0.020.29
203416.1013.19-2.91
17
-0.36-0.020.34
203516.0913.19-2.89
----
-0.41-0.020.39
203616.0913.20-2.90
----
-0.46-0.030.44
203716.0813.20-2.88
----
-0.52-0.030.49
203816.0413.20-2.84
----
-0.57-0.030.54
203915.9813.20-2.78
----
-0.63-0.040.59
204015.9013.19-2.71
----
-0.69-0.040.65
204115.8113.19-2.62
----
-0.75-0.040.71
204215.7213.19-2.54
----
-0.81-0.050.76
204315.6313.18-2.44
----
-0.87-0.050.82
204415.5313.18-2.35
----
-0.94-0.050.89
204515.4413.17-2.27
----
-1.01-0.060.95
204615.3513.17-2.18
----
-1.07-0.061.01
204715.2613.17-2.09
----
-1.14-0.061.08
204815.1713.16-2.01
----
-1.22-0.071.15
204915.0813.16-1.92
----
-1.29-0.071.21
205015.0013.15-1.84
----
-1.36-0.081.28
205114.9313.15-1.77
----
-1.43-0.081.35
205214.8613.15-1.71
----
-1.51-0.091.42
205314.8113.15-1.66
----
-1.59-0.091.50
205414.7613.15-1.62
----
-1.66-0.091.57
205514.7213.14-1.58
----
-1.74-0.101.64
205614.6913.14-1.54
----
-1.82-0.101.72
205714.6613.14-1.51
----
-1.90-0.111.79
205814.6313.14-1.49
----
-1.98-0.111.87
205914.6013.14-1.46
----
-2.06-0.121.94
206014.5713.14-1.43
----
-2.14-0.122.01
206114.5513.14-1.41
----
-2.21-0.132.09
206214.5213.14-1.38
----
-2.29-0.132.16
206314.4913.14-1.36
----
-2.36-0.142.23
206414.4713.14-1.33
----
-2.44-0.142.30
206514.4513.14-1.31
----
-2.51-0.142.37
206614.4213.13-1.29
----
-2.58-0.152.44
206714.4013.13-1.27
----
-2.66-0.152.51
206814.3813.13-1.25
----
-2.73-0.162.57
206914.3613.13-1.23
----
-2.80-0.162.64
207014.3413.13-1.21
----
-2.88-0.172.71
207114.3213.13-1.19
----
-2.95-0.172.78
207214.2913.13-1.16
----
-3.01-0.172.84
207314.2613.13-1.13
----
-3.08-0.182.90
207414.2313.13-1.10
----
-3.14-0.182.96
207514.1913.13-1.07
----
-3.20-0.183.02
207614.1513.12-1.03
----
-3.25-0.193.07
207714.1113.12-0.99
----
-3.30-0.193.11
207814.0713.12-0.95
----
-3.34-0.193.15
207914.0213.12-0.91
----
-3.38-0.193.19
208013.9813.11-0.87
----
-3.42-0.203.22
208113.9513.11-0.84
----
-3.45-0.203.25
208213.9213.11-0.81
----
-3.49-0.203.28
208313.9013.11-0.79
----
-3.52-0.203.31
208413.8913.11-0.78
----
-3.55-0.203.34
208513.8913.11-0.78
----
-3.58-0.213.37
208613.8913.11-0.78
----
-3.61-0.213.40
208713.9013.11-0.79
----
-3.64-0.213.43
208813.9113.11-0.80
----
-3.67-0.213.46
208913.9313.11-0.82
----
-3.70-0.213.49
209013.9513.11-0.84
----
-3.73-0.223.51
209113.9713.11-0.85
----
-3.75-0.223.54



 

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 15.02% 13.76% -1.26%
2034
-1.48% -0.08% 1.40%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016