Detailed Single Year Tables
Description of Proposed Provision:
B1.8: Progressive price indexing (50th percentile) of PIA factors for individuals newly eligible for OASI benefits in 2024 through 2063: Create a new bend point at the 50th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 50th percentile and below. Reduce the 32 and 15 percent factors above the 50th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in the SSA average wage index. 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 Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.09 | 12.90 | -1.19 | 245 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.23 | 12.92 | -1.31 | 229 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.40 | 12.94 | -1.46 | 213 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.59 | 12.97 | -1.62 | 197 | -0.00 | -0.00 | 0.00 | ||
| 2025 | 14.78 | 12.99 | -1.80 | 180 | -0.00 | -0.00 | 0.00 | ||
| 2026 | 14.98 | 13.11 | -1.87 | 163 | -0.00 | -0.00 | 0.00 | ||
| 2027 | 15.19 | 13.13 | -2.05 | 147 | -0.01 | -0.00 | 0.01 | ||
| 2028 | 15.42 | 13.17 | -2.25 | 130 | -0.01 | -0.00 | 0.01 | ||
| 2029 | 15.61 | 13.19 | -2.42 | 114 | -0.02 | -0.00 | 0.02 | ||
| 2030 | 15.78 | 13.20 | -2.58 | 98 | -0.03 | -0.00 | 0.03 | ||
| 2031 | 15.93 | 13.21 | -2.71 | 81 | -0.04 | -0.00 | 0.04 | ||
| 2032 | 16.05 | 13.22 | -2.83 | 64 | -0.06 | -0.00 | 0.06 | ||
| 2033 | 16.15 | 13.23 | -2.92 | 47 | -0.08 | -0.00 | 0.08 | ||
| 2034 | 16.22 | 13.24 | -2.98 | 30 | -0.11 | -0.01 | 0.10 | ||
| 2035 | 16.26 | 13.24 | -3.02 | 12 | -0.14 | -0.01 | 0.13 | ||
| 2036 | 16.29 | 13.25 | -3.04 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2037 | 16.31 | 13.25 | -3.06 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2038 | 16.32 | 13.25 | -3.07 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2039 | 16.32 | 13.25 | -3.06 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2040 | 16.29 | 13.25 | -3.03 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2041 | 16.24 | 13.25 | -2.99 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2042 | 16.17 | 13.25 | -2.92 | ---- | -0.42 | -0.02 | 0.39 | ||
| 2043 | 16.09 | 13.25 | -2.84 | ---- | -0.47 | -0.03 | 0.44 | ||
| 2044 | 16.01 | 13.24 | -2.76 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2045 | 15.92 | 13.24 | -2.68 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2046 | 15.83 | 13.23 | -2.60 | ---- | -0.62 | -0.04 | 0.58 | ||
| 2047 | 15.75 | 13.23 | -2.52 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2048 | 15.68 | 13.23 | -2.45 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2049 | 15.60 | 13.22 | -2.38 | ---- | -0.78 | -0.05 | 0.74 | ||
| 2050 | 15.52 | 13.22 | -2.31 | ---- | -0.84 | -0.05 | 0.79 | ||
| 2051 | 15.46 | 13.22 | -2.24 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2052 | 15.40 | 13.21 | -2.19 | ---- | -0.96 | -0.06 | 0.90 | ||
| 2053 | 15.35 | 13.21 | -2.14 | ---- | -1.02 | -0.06 | 0.96 | ||
| 2054 | 15.31 | 13.21 | -2.10 | ---- | -1.08 | -0.06 | 1.01 | ||
| 2055 | 15.27 | 13.21 | -2.06 | ---- | -1.14 | -0.07 | 1.07 | ||
| 2056 | 15.24 | 13.21 | -2.03 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2057 | 15.22 | 13.21 | -2.01 | ---- | -1.26 | -0.08 | 1.19 | ||
| 2058 | 15.20 | 13.21 | -1.99 | ---- | -1.33 | -0.08 | 1.25 | ||
| 2059 | 15.19 | 13.21 | -1.98 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2060 | 15.18 | 13.21 | -1.97 | ---- | -1.45 | -0.09 | 1.36 | ||
| 2061 | 15.17 | 13.21 | -1.96 | ---- | -1.51 | -0.09 | 1.42 | ||
| 2062 | 15.16 | 13.21 | -1.95 | ---- | -1.57 | -0.09 | 1.48 | ||
| 2063 | 15.15 | 13.21 | -1.94 | ---- | -1.63 | -0.10 | 1.53 | ||
| 2064 | 15.15 | 13.21 | -1.94 | ---- | -1.69 | -0.10 | 1.59 | ||
| 2065 | 15.15 | 13.21 | -1.93 | ---- | -1.75 | -0.11 | 1.64 | ||
| 2066 | 15.15 | 13.21 | -1.93 | ---- | -1.81 | -0.11 | 1.70 | ||
| 2067 | 15.15 | 13.21 | -1.93 | ---- | -1.87 | -0.11 | 1.75 | ||
| 2068 | 15.15 | 13.21 | -1.94 | ---- | -1.92 | -0.12 | 1.81 | ||
| 2069 | 15.15 | 13.21 | -1.94 | ---- | -1.98 | -0.12 | 1.86 | ||
| 2070 | 15.16 | 13.21 | -1.95 | ---- | -2.03 | -0.12 | 1.91 | ||
| 2071 | 15.17 | 13.22 | -1.95 | ---- | -2.08 | -0.13 | 1.96 | ||
| 2072 | 15.17 | 13.22 | -1.95 | ---- | -2.13 | -0.13 | 2.00 | ||
| 2073 | 15.17 | 13.22 | -1.95 | ---- | -2.18 | -0.13 | 2.05 | ||
| 2074 | 15.17 | 13.22 | -1.95 | ---- | -2.22 | -0.14 | 2.09 | ||
| 2075 | 15.17 | 13.22 | -1.95 | ---- | -2.26 | -0.14 | 2.12 | ||
| 2076 | 15.16 | 13.22 | -1.94 | ---- | -2.30 | -0.14 | 2.16 | ||
| 2077 | 15.15 | 13.22 | -1.93 | ---- | -2.33 | -0.14 | 2.19 | ||
| 2078 | 15.12 | 13.22 | -1.91 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2079 | 15.09 | 13.22 | -1.88 | ---- | -2.38 | -0.15 | 2.24 | ||
| 2080 | 15.06 | 13.21 | -1.85 | ---- | -2.40 | -0.15 | 2.26 | ||
| 2081 | 15.02 | 13.21 | -1.81 | ---- | -2.42 | -0.15 | 2.27 | ||
| 2082 | 14.99 | 13.21 | -1.78 | ---- | -2.44 | -0.15 | 2.29 | ||
| 2083 | 14.95 | 13.21 | -1.74 | ---- | -2.45 | -0.15 | 2.30 | ||
| 2084 | 14.92 | 13.21 | -1.71 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2085 | 14.89 | 13.20 | -1.68 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2086 | 14.86 | 13.20 | -1.66 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2087 | 14.84 | 13.20 | -1.64 | ---- | -2.49 | -0.15 | 2.33 | ||
| 2088 | 14.83 | 13.20 | -1.63 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2089 | 14.83 | 13.20 | -1.63 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2090 | 14.84 | 13.20 | -1.64 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2091 | 14.87 | 13.20 | -1.66 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2092 | 14.89 | 13.20 | -1.69 | ---- | -2.53 | -0.16 | 2.38 | ||
| 2093 | 14.93 | 13.21 | -1.72 | ---- | -2.54 | -0.16 | 2.39 | ||
| 2094 | 14.97 | 13.21 | -1.76 | ---- | -2.56 | -0.16 | 2.40 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 15.49% | 13.75% | -1.74% | 2035 | -1.11% | -0.07% | 1.04% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.