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Detailed Single Year Tables
Level of Monthly Benefits

Description of Proposed Provision:
B3.16: For retired worker and disabled worker beneficiaries becoming initially eligible in January 2023 or later, phase in a new benefit formula (from 2023 to 2032). Replace the existing two primary insurance amount (PIA) bend points with three new bend points as follows: (1) 25% AWI/12 from 2 years prior to initial eligibility; (2) 100% AWI/12 from 2 years prior to initial eligibility; and (3) 125% AWI/12 from 2 years prior to initial eligibility. The new PIA factors are 95%, 27.5%, 5% and 2%. During the phase in, those becoming newly eligible for benefits will receive an increasing portion of their benefits based on the new formula, reaching 100% of the new formula in 2032.

 

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
202615.4613.13-2.33
149
-0.010.000.01
202715.6213.14-2.48
132
-0.020.000.02
202815.7713.15-2.62
116
-0.040.000.04
202915.9013.17-2.74
99
-0.060.000.06
203016.0113.18-2.83
82
-0.090.000.09
203116.0913.18-2.91
65
-0.13-0.010.12
203216.1513.19-2.96
48
-0.18-0.010.17
203316.1813.19-2.99
31
-0.23-0.010.21
203416.1813.20-2.98
13
-0.28-0.020.27
203516.1513.20-2.96
----
-0.34-0.020.32
203616.1513.20-2.95
----
-0.41-0.020.38
203716.1313.20-2.92
----
-0.47-0.030.45
203816.0713.20-2.87
----
-0.54-0.030.51
203916.0013.20-2.81
----
-0.61-0.030.57
204015.9213.19-2.73
----
-0.67-0.040.63
204115.8313.19-2.64
----
-0.73-0.040.69
204215.7413.19-2.56
----
-0.79-0.040.75
204315.6513.18-2.47
----
-0.85-0.050.80
204415.5713.18-2.39
----
-0.90-0.050.85
204515.5013.18-2.32
----
-0.95-0.050.90
204615.4213.17-2.25
----
-1.00-0.060.95
204715.3513.17-2.18
----
-1.05-0.060.99
204815.2913.17-2.12
----
-1.09-0.061.03
204915.2313.17-2.07
----
-1.14-0.061.07
205015.1813.17-2.02
----
-1.18-0.071.11
205115.1413.16-1.98
----
-1.22-0.071.15
205215.1213.16-1.95
----
-1.25-0.071.18
205315.1113.16-1.94
----
-1.29-0.071.22
205415.1013.17-1.94
----
-1.32-0.071.25
205515.1113.17-1.94
----
-1.35-0.081.28
205615.1313.17-1.96
----
-1.38-0.081.30
205715.1513.17-1.98
----
-1.41-0.081.33
205815.1813.17-2.00
----
-1.43-0.081.35
205915.2113.18-2.03
----
-1.45-0.081.37
206015.2413.18-2.06
----
-1.47-0.081.39
206115.2713.18-2.09
----
-1.49-0.081.40
206215.3113.18-2.12
----
-1.50-0.091.41
206315.3513.19-2.16
----
-1.51-0.091.42
206415.3813.19-2.19
----
-1.52-0.091.43
206515.4213.19-2.23
----
-1.53-0.091.44
206615.4713.20-2.27
----
-1.54-0.091.45
206715.5113.20-2.31
----
-1.55-0.091.46
206815.5613.20-2.36
----
-1.56-0.091.47
206915.6013.20-2.40
----
-1.56-0.091.47
207015.6513.21-2.44
----
-1.57-0.091.48
207115.6913.21-2.48
----
-1.58-0.091.48
207215.7213.21-2.51
----
-1.58-0.091.49
207315.7613.21-2.54
----
-1.58-0.091.49
207415.7813.22-2.56
----
-1.59-0.091.50
207515.8013.22-2.58
----
-1.59-0.091.50
207615.8113.22-2.59
----
-1.59-0.091.50
207715.8213.22-2.60
----
-1.59-0.091.50
207815.8113.22-2.59
----
-1.59-0.091.50
207915.8113.22-2.59
----
-1.59-0.091.50
208015.8113.22-2.59
----
-1.59-0.091.50
208115.8113.22-2.59
----
-1.59-0.091.50
208215.8113.22-2.59
----
-1.59-0.091.50
208315.8213.22-2.60
----
-1.60-0.091.50
208415.8413.22-2.62
----
-1.60-0.091.51
208515.8713.22-2.64
----
-1.60-0.091.51
208615.9013.23-2.67
----
-1.61-0.091.51
208715.9313.23-2.71
----
-1.61-0.091.52
208815.9713.23-2.74
----
-1.61-0.091.52
208916.0113.23-2.78
----
-1.62-0.091.52
209016.0513.24-2.82
----
-1.62-0.091.53
209116.1013.24-2.86
----
-1.63-0.091.53



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 15.60% 13.79% -1.81%
2034
-0.90% -0.05% 0.85%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified February 21, 2017