Detailed Single Year Tables
Description of Proposed Provision:
B1.4: Progressive price indexing (50th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2030: 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.
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 |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.87 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.04 | 12.97 | -2.07 | 168 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.23 | 13.08 | -2.15 | 149 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.38 | 13.09 | -2.29 | 131 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.55 | 13.13 | -2.42 | 114 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.72 | 13.16 | -2.56 | 96 | 0.00 | 0.00 | 0.00 | ||
| 2030 | 15.87 | 13.18 | -2.69 | 78 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 16.00 | 13.21 | -2.79 | 61 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 16.14 | 13.24 | -2.90 | 43 | -0.00 | -0.00 | 0.00 | ||
| 2033 | 16.26 | 13.25 | -3.01 | 25 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.37 | 13.26 | -3.11 | 7 | -0.01 | -0.00 | 0.01 | ||
| 2035 | 16.46 | 13.27 | -3.19 | ---- | -0.02 | -0.00 | 0.02 | ||
| 2036 | 16.52 | 13.27 | -3.25 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2037 | 16.59 | 13.28 | -3.31 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2038 | 16.63 | 13.28 | -3.35 | ---- | -0.07 | -0.00 | 0.06 | ||
| 2039 | 16.66 | 13.29 | -3.37 | ---- | -0.09 | -0.00 | 0.08 | ||
| 2040 | 16.67 | 13.29 | -3.37 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2041 | 16.66 | 13.29 | -3.37 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2042 | 16.64 | 13.29 | -3.35 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2043 | 16.61 | 13.29 | -3.32 | ---- | -0.22 | -0.01 | 0.20 | ||
| 2044 | 16.59 | 13.29 | -3.30 | ---- | -0.26 | -0.01 | 0.24 | ||
| 2045 | 16.56 | 13.29 | -3.27 | ---- | -0.30 | -0.02 | 0.28 | ||
| 2046 | 16.54 | 13.29 | -3.25 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2047 | 16.51 | 13.29 | -3.22 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2048 | 16.48 | 13.29 | -3.19 | ---- | -0.45 | -0.03 | 0.42 | ||
| 2049 | 16.46 | 13.29 | -3.17 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2050 | 16.43 | 13.29 | -3.14 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2051 | 16.40 | 13.29 | -3.11 | ---- | -0.62 | -0.04 | 0.58 | ||
| 2052 | 16.38 | 13.29 | -3.09 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2053 | 16.37 | 13.29 | -3.08 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2054 | 16.36 | 13.29 | -3.07 | ---- | -0.80 | -0.05 | 0.76 | ||
| 2055 | 16.36 | 13.29 | -3.07 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2056 | 16.36 | 13.29 | -3.07 | ---- | -0.94 | -0.05 | 0.88 | ||
| 2057 | 16.37 | 13.30 | -3.08 | ---- | -1.01 | -0.06 | 0.95 | ||
| 2058 | 16.38 | 13.30 | -3.08 | ---- | -1.08 | -0.06 | 1.01 | ||
| 2059 | 16.39 | 13.30 | -3.09 | ---- | -1.15 | -0.07 | 1.08 | ||
| 2060 | 16.40 | 13.30 | -3.10 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2061 | 16.40 | 13.30 | -3.10 | ---- | -1.29 | -0.08 | 1.21 | ||
| 2062 | 16.40 | 13.30 | -3.10 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2063 | 16.40 | 13.31 | -3.09 | ---- | -1.42 | -0.08 | 1.34 | ||
| 2064 | 16.39 | 13.31 | -3.09 | ---- | -1.49 | -0.09 | 1.40 | ||
| 2065 | 16.39 | 13.31 | -3.08 | ---- | -1.56 | -0.09 | 1.47 | ||
| 2066 | 16.38 | 13.31 | -3.07 | ---- | -1.62 | -0.10 | 1.53 | ||
| 2067 | 16.37 | 13.31 | -3.06 | ---- | -1.69 | -0.10 | 1.59 | ||
| 2068 | 16.36 | 13.31 | -3.05 | ---- | -1.76 | -0.11 | 1.65 | ||
| 2069 | 16.35 | 13.31 | -3.04 | ---- | -1.82 | -0.11 | 1.71 | ||
| 2070 | 16.35 | 13.31 | -3.04 | ---- | -1.88 | -0.11 | 1.77 | ||
| 2071 | 16.34 | 13.31 | -3.02 | ---- | -1.95 | -0.12 | 1.83 | ||
| 2072 | 16.32 | 13.31 | -3.01 | ---- | -2.01 | -0.12 | 1.89 | ||
| 2073 | 16.31 | 13.31 | -3.00 | ---- | -2.08 | -0.12 | 1.95 | ||
| 2074 | 16.29 | 13.31 | -2.98 | ---- | -2.14 | -0.13 | 2.01 | ||
| 2075 | 16.26 | 13.31 | -2.95 | ---- | -2.20 | -0.13 | 2.07 | ||
| 2076 | 16.23 | 13.31 | -2.92 | ---- | -2.26 | -0.14 | 2.12 | ||
| 2077 | 16.18 | 13.31 | -2.88 | ---- | -2.32 | -0.14 | 2.18 | ||
| 2078 | 16.13 | 13.30 | -2.83 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2079 | 16.06 | 13.30 | -2.76 | ---- | -2.43 | -0.15 | 2.28 | ||
| 2080 | 15.99 | 13.30 | -2.69 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2081 | 15.91 | 13.29 | -2.62 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2082 | 15.83 | 13.29 | -2.54 | ---- | -2.57 | -0.16 | 2.41 | ||
| 2083 | 15.74 | 13.28 | -2.45 | ---- | -2.61 | -0.16 | 2.45 | ||
| 2084 | 15.64 | 13.28 | -2.36 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2085 | 15.54 | 13.27 | -2.27 | ---- | -2.68 | -0.16 | 2.52 | ||
| 2086 | 15.44 | 13.26 | -2.18 | ---- | -2.72 | -0.17 | 2.55 | ||
| 2087 | 15.35 | 13.26 | -2.09 | ---- | -2.74 | -0.17 | 2.58 | ||
| 2088 | 15.25 | 13.25 | -2.00 | ---- | -2.77 | -0.17 | 2.60 | ||
| 2089 | 15.16 | 13.25 | -1.91 | ---- | -2.79 | -0.17 | 2.62 | ||
| 2090 | 15.08 | 13.24 | -1.83 | ---- | -2.82 | -0.17 | 2.65 | ||
| 2091 | 15.00 | 13.24 | -1.77 | ---- | -2.84 | -0.17 | 2.67 | ||
| 2092 | 14.94 | 13.23 | -1.71 | ---- | -2.86 | -0.17 | 2.69 | ||
| 2093 | 14.89 | 13.23 | -1.66 | ---- | -2.88 | -0.18 | 2.71 | ||
| 2094 | 14.85 | 13.23 | -1.62 | ---- | -2.90 | -0.18 | 2.73 | ||
| 2095 | 14.82 | 13.23 | -1.59 | ---- | -2.93 | -0.18 | 2.75 | ||
| 2096 | 14.80 | 13.22 | -1.57 | ---- | -2.95 | -0.18 | 2.77 | ||
| 2097 | 14.79 | 13.22 | -1.56 | ---- | -2.97 | -0.18 | 2.79 | ||
| 2098 | 14.78 | 13.22 | -1.56 | ---- | -2.99 | -0.18 | 2.81 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2023-2097 | 16.20% | 13.71% | -2.50% | 2034 | -1.18% | -0.07% | 1.11% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2023 Trustees Report.