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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 2018, continuing through 2027, and resuming in 2066: 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 1.17 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
201514.1312.82-1.31
308
0.000.000.00
201613.8812.88-1.00
298
0.000.000.00
201713.8912.91-0.98
280
0.000.000.00
201813.9712.94-1.03
264
0.000.000.00
201914.0812.95-1.13
248
0.000.000.00
202014.2212.96-1.26
233
-0.010.000.01
202114.3312.98-1.35
219
-0.010.000.01
202214.5013.01-1.49
204
-0.020.000.02
202314.6913.03-1.66
189
-0.030.000.03
202414.9113.06-1.85
174
-0.050.000.05
202515.0913.08-2.02
159
-0.070.000.07
202615.2713.09-2.18
144
-0.090.000.09
202715.4413.11-2.33
129
-0.12-0.010.12
202815.6013.12-2.48
114
-0.15-0.010.15
202915.7413.13-2.61
98
-0.19-0.010.18
203015.8713.14-2.73
83
-0.22-0.010.21
203115.9813.15-2.83
67
-0.26-0.010.25
203216.0713.16-2.91
50
-0.30-0.020.29
203316.1413.17-2.97
33
-0.34-0.020.32
203416.1713.17-3.00
15
-0.38-0.020.36
203516.2113.18-3.03
----
-0.41-0.020.39
203616.2313.18-3.05
----
-0.45-0.020.43
203716.2313.18-3.05
----
-0.48-0.030.46
203816.2113.18-3.03
----
-0.52-0.030.49
203916.1813.18-3.00
----
-0.54-0.030.52
204016.1413.18-2.96
----
-0.57-0.030.54
204116.0913.18-2.91
----
-0.60-0.030.57
204216.0413.18-2.86
----
-0.62-0.030.59
204315.9913.18-2.81
----
-0.65-0.040.61
204415.9413.18-2.77
----
-0.67-0.040.64
204515.9013.18-2.72
----
-0.69-0.040.66
204615.8613.18-2.68
----
-0.71-0.040.67
204715.8313.18-2.65
----
-0.73-0.040.69
204815.8013.18-2.62
----
-0.75-0.040.71
204915.7713.18-2.60
----
-0.77-0.040.72
205015.7613.18-2.58
----
-0.78-0.040.74
205115.7613.18-2.58
----
-0.79-0.040.75
205215.7713.18-2.59
----
-0.81-0.040.76
205315.7913.18-2.61
----
-0.82-0.040.77
205415.8113.18-2.63
----
-0.83-0.050.78
205515.8513.19-2.66
----
-0.84-0.050.79
205615.8913.19-2.70
----
-0.84-0.050.80
205715.9413.19-2.75
----
-0.85-0.050.81
205815.9913.20-2.79
----
-0.86-0.050.81
205916.0413.20-2.83
----
-0.86-0.050.82
206016.0813.20-2.88
----
-0.87-0.050.82
206116.1313.21-2.92
----
-0.87-0.050.83
206216.1813.21-2.97
----
-0.88-0.050.83
206316.2313.21-3.01
----
-0.88-0.050.83
206416.2813.22-3.06
----
-0.88-0.050.84
206516.3313.22-3.11
----
-0.89-0.050.84
206616.3813.22-3.16
----
-0.89-0.050.84
206716.4313.23-3.21
----
-0.90-0.050.85
206816.4913.23-3.26
----
-0.90-0.050.85
206916.5413.23-3.30
----
-0.91-0.050.86
207016.5813.24-3.35
----
-0.92-0.050.87
207116.6213.24-3.38
----
-0.93-0.050.88
207216.6513.24-3.41
----
-0.94-0.050.89
207316.6713.24-3.43
----
-0.96-0.050.91
207416.6813.24-3.44
----
-0.98-0.050.93
207516.6813.24-3.43
----
-1.01-0.060.95
207616.6613.24-3.42
----
-1.03-0.060.98
207716.6413.24-3.40
----
-1.06-0.061.00
207816.6113.24-3.37
----
-1.10-0.061.03
207916.5813.24-3.34
----
-1.13-0.061.07
208016.5413.24-3.30
----
-1.17-0.071.10
208116.5013.24-3.27
----
-1.21-0.071.14
208216.4713.23-3.24
----
-1.26-0.071.19
208316.4413.23-3.21
----
-1.31-0.071.23
208416.4213.23-3.19
----
-1.36-0.081.28
208516.3913.23-3.16
----
-1.42-0.081.34
208616.3713.23-3.14
----
-1.48-0.081.39
208716.3513.23-3.12
----
-1.54-0.091.45
208816.3213.23-3.10
----
-1.61-0.091.52
208916.3013.22-3.07
----
-1.67-0.091.58
209016.2713.22-3.05
----
-1.74-0.101.65



 

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 2015 Trustees Report.
2015-2089 15.92% 13.83% -2.09%
2034
-0.62% -0.03% 0.59%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015