__Description of Proposed Provision__:

B3.1: Beginning with those newly eligible for OASDI benefits in 2018, multiply the 32 and 15 percent PIA factors each year by 0.987. Stop reductions after 2048, when the factors reach 21 percent and 10 percent, respectively.

*Estimates based on the intermediate assumptions
of the 2017 Trustees Report*

Summary Measures | |||||||
---|---|---|---|---|---|---|---|

Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||

Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||

-2.83 | -4.48 | 1.54 | 2.96 | 54% | 66% |