## Summary Measures and Graphs

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2031 (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 $1,174 in 2023 to $1,493 in 2024. Phase this provision in over 10 years (2031-2040). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2031, 80% of CL formula + 20% of proposal formula for 2032, and so on.

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2031 (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 $1,174 in 2023 to $1,493 in 2024. Phase this provision in over 10 years (2031-2040). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2031, 80% of CL formula + 20% of proposal formula for 2032, and so on.

*Estimates based on the intermediate assumptions of the 2024 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 |
||

-3.50 | -4.64 | 0.10 | 0.21 | 3% | 5% |