Description of Proposed Provision:
B6.2: Provide the same dollar amount increase to the monthly benefit amount (MBA) of any beneficiary who is 85 or older at the beginning of 2020 or who reaches their 85th birthday after the beginning of 2020. The dollar amount of increase equals 5 percent of the average retired-worker MBA in the prior year.

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
201913.9112.85-1.06
273
0.000.000.00
202014.0012.87-1.13
259
0.060.00-0.06
202114.1512.90-1.25
244
0.060.00-0.06
202214.2912.92-1.37
228
0.060.00-0.06
202314.4612.94-1.52
211
0.060.00-0.06
202414.6512.97-1.68
195
0.060.00-0.06
202514.8512.99-1.86
178
0.060.00-0.06
202615.0513.12-1.94
160
0.070.00-0.06
202715.2613.14-2.12
144
0.070.00-0.06
202815.5013.18-2.33
127
0.070.00-0.07
202915.7013.19-2.51
110
0.070.00-0.07
203015.8813.21-2.67
93
0.080.00-0.07
203116.0513.22-2.83
76
0.080.00-0.08
203216.1913.23-2.96
58
0.090.00-0.08
203316.3213.24-3.08
41
0.090.01-0.08
203416.4213.25-3.17
22
0.090.01-0.09
203516.5013.26-3.24
4
0.100.01-0.09
203616.5613.26-3.30
----
0.100.01-0.09
203716.6213.27-3.35
----
0.100.01-0.10
203816.6713.27-3.40
----
0.110.01-0.10
203916.7113.28-3.43
----
0.110.01-0.10
204016.7313.28-3.45
----
0.110.01-0.11
204116.7313.28-3.45
----
0.120.01-0.11
204216.7113.28-3.43
----
0.120.01-0.11
204316.6813.28-3.40
----
0.120.01-0.12
204416.6513.28-3.37
----
0.130.01-0.12
204516.6213.28-3.34
----
0.130.01-0.12
204616.5813.28-3.31
----
0.130.01-0.12
204716.5613.28-3.28
----
0.130.01-0.13
204816.5413.28-3.26
----
0.130.01-0.13
204916.5213.28-3.24
----
0.140.01-0.13
205016.5013.28-3.23
----
0.140.01-0.13
205116.5013.28-3.22
----
0.140.01-0.13
205216.5013.28-3.22
----
0.130.01-0.13
205316.5113.28-3.22
----
0.130.01-0.13
205416.5213.28-3.24
----
0.130.01-0.13
205516.5413.29-3.26
----
0.130.01-0.13
205616.5813.29-3.29
----
0.130.01-0.13
205716.6113.29-3.32
----
0.130.01-0.13
205816.6613.30-3.36
----
0.130.01-0.12
205916.7113.30-3.41
----
0.130.01-0.12
206016.7613.30-3.45
----
0.130.01-0.12
206116.8113.31-3.50
----
0.130.01-0.12
206216.8613.31-3.55
----
0.130.01-0.12
206316.9213.32-3.60
----
0.130.01-0.12
206416.9713.32-3.65
----
0.130.01-0.12
206517.0313.33-3.70
----
0.130.01-0.12
206617.0913.33-3.76
----
0.130.01-0.12
206717.1513.33-3.81
----
0.130.01-0.13
206817.2113.34-3.87
----
0.140.01-0.13
206917.2713.34-3.93
----
0.140.01-0.13
207017.3313.35-3.99
----
0.140.01-0.13
207117.3913.35-4.04
----
0.140.01-0.13
207217.4413.35-4.09
----
0.140.01-0.13
207317.4913.36-4.13
----
0.140.01-0.14
207417.5413.36-4.18
----
0.150.01-0.14
207517.5813.37-4.21
----
0.150.01-0.14
207617.6113.37-4.24
----
0.150.01-0.14
207717.6313.37-4.26
----
0.150.01-0.14
207817.6413.37-4.27
----
0.150.01-0.15
207917.6313.37-4.26
----
0.160.01-0.15
208017.6213.37-4.25
----
0.160.01-0.15
208117.6013.37-4.23
----
0.160.01-0.15
208217.5813.37-4.21
----
0.160.01-0.15
208317.5613.37-4.19
----
0.160.01-0.15
208417.5413.37-4.17
----
0.160.01-0.15
208517.5213.36-4.15
----
0.160.01-0.15
208617.5013.36-4.14
----
0.160.01-0.15
208717.4913.36-4.13
----
0.160.01-0.15
208817.4913.36-4.13
----
0.160.01-0.15
208917.5013.36-4.14
----
0.160.01-0.15
209017.5213.36-4.16
----
0.160.01-0.15
209117.5513.37-4.19
----
0.160.01-0.15
209217.5913.37-4.23
----
0.170.01-0.16
209317.6413.37-4.27
----
0.170.01-0.16
209417.6913.38-4.32
----
0.170.01-0.16


Summarized Estimates

  Proposal   Change from Current Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
2019-2093 16.72% 13.82% -2.90%
2035
0.12% 0.01% -0.11%

1 Under current law, the year of Trust Fund reserve depletion is 2035.
Based on Intermediate Assumptions of the 2019 Trustees Report.