## Summary Measures and Graphs

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2026 (excluding disabled workers), add a new bend point at the wage-indexed equivalent of the 50th percentile of the AIME distribution minus $100 (for 2015 eligibility) and change the PIA factors to 95/32/15/5. Also move the current-law first bend point from the wage-indexed equivalent of $926 in 2019 to $1,177 in 2019. Phase this provision in over 10 years (2026-2035). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2026, 80% of CL formula + 20% of proposal formula for 2027, and so on.

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2026 (excluding disabled workers), add a new bend point at the wage-indexed equivalent of the 50th percentile of the AIME distribution minus $100 (for 2015 eligibility) and change the PIA factors to 95/32/15/5. Also move the current-law first bend point from the wage-indexed equivalent of $926 in 2019 to $1,177 in 2019. Phase this provision in over 10 years (2026-2035). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2026, 80% of CL formula + 20% of proposal formula for 2027, and so on.

*Estimates based on the intermediate assumptions of the 2019 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 |
||

-2.78 | -4.11 | 0.10 | 0.20 | 4% | 5% |