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Detailed Single Year Tables

Description of Proposed Provision:
Progressive price indexing (40th percentile) of PIA factors for individuals newly eligible for OASI benefits in 2024 through 2061: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 40th percentile and below. Reduce the 32 and 15 percent factors above the 40th 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.09-1.93
183
0.000.000.00
202515.2813.11-2.17
165
0.000.000.00
202615.4713.13-2.34
149
0.000.000.00
202715.6413.14-2.50
132
-0.010.000.01
202815.8013.16-2.64
115
-0.010.000.01
202915.9413.17-2.77
98
-0.020.000.02
203016.0613.18-2.89
81
-0.040.000.04
203116.1713.19-2.98
64
-0.050.000.05
203216.2513.20-3.06
47
-0.080.000.07
203316.3113.20-3.11
29
-0.10-0.010.09
203416.3413.20-3.13
10
-0.13-0.010.12
203516.3413.21-3.13
----
-0.16-0.010.15
203616.3613.21-3.15
----
-0.19-0.010.18
203716.3713.21-3.16
----
-0.23-0.010.22
203816.3413.21-3.13
----
-0.27-0.010.25
203916.3013.21-3.09
----
-0.31-0.020.29
204016.2413.21-3.02
----
-0.35-0.020.33
204116.1613.21-2.95
----
-0.40-0.020.38
204216.0913.21-2.88
----
-0.45-0.030.42
204316.0013.20-2.80
----
-0.50-0.030.47
204415.9213.20-2.72
----
-0.55-0.030.52
204515.8513.20-2.65
----
-0.60-0.030.57
204615.7713.19-2.57
----
-0.66-0.040.62
204715.6913.19-2.50
----
-0.72-0.040.68
204815.6113.19-2.42
----
-0.77-0.040.73
204915.5313.18-2.35
----
-0.83-0.050.79
205015.4613.18-2.28
----
-0.90-0.050.85
205115.4013.18-2.22
----
-0.96-0.050.91
205215.3513.18-2.17
----
-1.03-0.060.97
205315.3013.17-2.13
----
-1.09-0.061.03
205415.2613.17-2.09
----
-1.16-0.071.09
205515.2313.17-2.06
----
-1.23-0.071.16
205615.2113.17-2.04
----
-1.30-0.071.23
205715.1913.17-2.01
----
-1.37-0.081.29
205815.1613.17-1.99
----
-1.44-0.081.36
205915.1513.17-1.97
----
-1.51-0.091.43
206015.1313.17-1.95
----
-1.58-0.091.49
206115.1113.17-1.94
----
-1.65-0.091.55
206215.0913.17-1.92
----
-1.72-0.101.62
206315.0713.17-1.90
----
-1.78-0.101.68
206415.0613.17-1.89
----
-1.85-0.111.74
206515.0413.17-1.87
----
-1.91-0.111.80
206615.0313.17-1.86
----
-1.97-0.111.86
206715.0213.17-1.85
----
-2.04-0.121.92
206815.0213.17-1.85
----
-2.09-0.121.97
206915.0113.17-1.84
----
-2.15-0.122.03
207015.0113.17-1.84
----
-2.20-0.132.08
207115.0113.17-1.84
----
-2.25-0.132.12
207215.0013.17-1.83
----
-2.30-0.132.17
207315.0013.17-1.83
----
-2.34-0.132.21
207414.9913.17-1.82
----
-2.38-0.142.25
207514.9713.17-1.80
----
-2.42-0.142.28
207614.9513.17-1.78
----
-2.45-0.142.31
207714.9313.17-1.76
----
-2.48-0.142.34
207814.9013.17-1.74
----
-2.50-0.142.36
207914.8813.17-1.71
----
-2.53-0.152.38
208014.8613.16-1.69
----
-2.55-0.152.40
208114.8413.16-1.67
----
-2.56-0.152.42
208214.8313.16-1.66
----
-2.58-0.152.43
208314.8213.16-1.66
----
-2.60-0.152.45
208414.8313.16-1.66
----
-2.61-0.152.46
208514.8413.16-1.68
----
-2.63-0.152.48
208614.8613.16-1.69
----
-2.64-0.152.49
208714.8813.17-1.72
----
-2.66-0.152.51
208814.9113.17-1.74
----
-2.67-0.152.52
208914.9413.17-1.77
----
-2.69-0.162.53
209014.9713.17-1.80
----
-2.70-0.162.55
209115.0113.17-1.83
----
-2.71-0.162.56



 

Summarized Estimates

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

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 15.45% 13.79% -1.67%
2034
-1.05% -0.06% 0.99%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016