__Description of Proposed Provision__:

B3.9: Beginning with those newly eligible for OASDI benefits in 2031, gradually reduce the 15 percent PIA factor in each year so that it reaches 10 percent for those newly eligible in 2060 and later.

*Estimates based on the intermediate assumptions
of the 2018 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 |
||

-2.84 | -4.32 | 0.09 | 0.25 | 3% | 6% |