Detailed Single Year Tables
Description of Proposed Provision:
B3.13: For retired worker beneficiaries newly eligible in 2030 (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 $1,115 in 2023 to $1,417 in 2023. Phase this provision in over 10 years (2030-2039). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2030, 80% of CL formula + 20% of proposal formula for 2031, and so on.
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 | 60 | 0.00 | 0.00 | -0.00 | ||
| 2032 | 16.15 | 13.24 | -2.91 | 43 | 0.00 | 0.00 | -0.00 | ||
| 2033 | 16.27 | 13.25 | -3.02 | 25 | 0.00 | 0.00 | -0.00 | ||
| 2034 | 16.39 | 13.26 | -3.13 | 7 | 0.01 | 0.00 | -0.01 | ||
| 2035 | 16.49 | 13.27 | -3.22 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2036 | 16.57 | 13.28 | -3.29 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2037 | 16.65 | 13.28 | -3.37 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2038 | 16.71 | 13.29 | -3.42 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2039 | 16.76 | 13.29 | -3.47 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2040 | 16.79 | 13.30 | -3.50 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2041 | 16.82 | 13.30 | -3.51 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2042 | 16.82 | 13.30 | -3.52 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2043 | 16.83 | 13.30 | -3.53 | ---- | 0.00 | 0.00 | -0.00 | ||
| 2044 | 16.84 | 13.31 | -3.53 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2045 | 16.85 | 13.31 | -3.54 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2046 | 16.86 | 13.31 | -3.55 | ---- | -0.02 | -0.00 | 0.02 | ||
| 2047 | 16.87 | 13.31 | -3.56 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2048 | 16.88 | 13.31 | -3.57 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2049 | 16.90 | 13.31 | -3.59 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2050 | 16.92 | 13.32 | -3.61 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2051 | 16.94 | 13.32 | -3.63 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2052 | 16.98 | 13.32 | -3.65 | ---- | -0.08 | -0.01 | 0.08 | ||
| 2053 | 17.02 | 13.33 | -3.69 | ---- | -0.09 | -0.01 | 0.09 | ||
| 2054 | 17.06 | 13.33 | -3.73 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2055 | 17.12 | 13.34 | -3.78 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2056 | 17.18 | 13.34 | -3.84 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2057 | 17.25 | 13.35 | -3.90 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2058 | 17.32 | 13.35 | -3.97 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2059 | 17.39 | 13.36 | -4.04 | ---- | -0.14 | -0.01 | 0.14 | ||
| 2060 | 17.47 | 13.36 | -4.10 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2061 | 17.53 | 13.37 | -4.16 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2062 | 17.60 | 13.38 | -4.22 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2063 | 17.66 | 13.38 | -4.28 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2064 | 17.71 | 13.38 | -4.33 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2065 | 17.77 | 13.39 | -4.38 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2066 | 17.82 | 13.39 | -4.43 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2067 | 17.87 | 13.40 | -4.48 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2068 | 17.93 | 13.40 | -4.53 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2069 | 17.98 | 13.41 | -4.58 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2070 | 18.04 | 13.41 | -4.63 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2071 | 18.09 | 13.42 | -4.67 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2072 | 18.14 | 13.42 | -4.72 | ---- | -0.20 | -0.01 | 0.18 | ||
| 2073 | 18.19 | 13.42 | -4.76 | ---- | -0.20 | -0.01 | 0.18 | ||
| 2074 | 18.23 | 13.43 | -4.80 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2075 | 18.26 | 13.43 | -4.83 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2076 | 18.29 | 13.43 | -4.85 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2077 | 18.30 | 13.43 | -4.86 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2078 | 18.30 | 13.44 | -4.86 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2079 | 18.28 | 13.43 | -4.85 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2080 | 18.26 | 13.43 | -4.83 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2081 | 18.23 | 13.43 | -4.80 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2082 | 18.19 | 13.43 | -4.76 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2083 | 18.14 | 13.43 | -4.71 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2084 | 18.08 | 13.42 | -4.66 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2085 | 18.02 | 13.42 | -4.60 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2086 | 17.95 | 13.42 | -4.53 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2087 | 17.88 | 13.41 | -4.47 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2088 | 17.81 | 13.41 | -4.40 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2089 | 17.74 | 13.40 | -4.34 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2090 | 17.68 | 13.40 | -4.28 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2091 | 17.63 | 13.40 | -4.24 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2092 | 17.59 | 13.39 | -4.20 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2093 | 17.56 | 13.39 | -4.17 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2094 | 17.54 | 13.39 | -4.15 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2095 | 17.53 | 13.39 | -4.14 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2096 | 17.53 | 13.39 | -4.14 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2097 | 17.54 | 13.39 | -4.15 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2098 | 17.56 | 13.39 | -4.16 | ---- | -0.21 | -0.01 | 0.20 | ||
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 | 17.28% | 13.77% | -3.51% | 2034 | -0.10% | -0.01% | 0.10% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
|||||||||
Based on Intermediate Assumptions of the 2023 Trustees Report.