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Detailed Single Year Tables

Description of Proposed Provision:
Progressive indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2019, continuing through 2028, and resuming in 2067: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum is reduced by 1.21 percent per year as compared to current law (for the years that progressive indexing applies). 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.

 

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
202114.2713.00-1.26
232
-0.010.000.01
202214.4813.03-1.45
216
-0.010.000.01
202314.7413.06-1.68
200
-0.020.000.02
202414.9913.09-1.90
183
-0.030.000.03
202515.2413.11-2.13
166
-0.040.000.04
202615.4113.12-2.28
150
-0.060.000.06
202715.5613.14-2.42
134
-0.090.000.08
202815.7013.15-2.55
117
-0.12-0.010.11
202915.8213.16-2.66
101
-0.15-0.010.14
203015.9213.17-2.75
85
-0.18-0.010.17
203116.0013.18-2.82
69
-0.22-0.010.21
203216.0713.19-2.88
52
-0.26-0.010.24
203316.1113.19-2.92
35
-0.30-0.020.28
203416.1313.19-2.93
17
-0.34-0.020.32
203516.1213.19-2.93
----
-0.38-0.020.36
203616.1413.20-2.94
----
-0.41-0.020.39
203716.1513.20-2.95
----
-0.45-0.020.43
203816.1313.20-2.93
----
-0.48-0.030.46
203916.0913.20-2.89
----
-0.52-0.030.49
204016.0413.20-2.84
----
-0.55-0.030.52
204115.9913.20-2.79
----
-0.58-0.030.54
204215.9313.20-2.73
----
-0.60-0.030.57
204315.8713.20-2.67
----
-0.63-0.040.59
204415.8113.19-2.62
----
-0.65-0.040.62
204515.7713.19-2.58
----
-0.68-0.040.64
204615.7313.19-2.54
----
-0.70-0.040.66
204715.6813.19-2.49
----
-0.72-0.040.68
204815.6513.19-2.46
----
-0.74-0.040.70
204915.6113.19-2.42
----
-0.76-0.040.71
205015.5913.19-2.40
----
-0.77-0.040.73
205115.5713.19-2.38
----
-0.79-0.040.74
205215.5713.19-2.38
----
-0.80-0.050.76
205315.5813.19-2.39
----
-0.81-0.050.77
205415.6013.19-2.41
----
-0.83-0.050.78
205515.6313.20-2.43
----
-0.84-0.050.79
205615.6613.20-2.46
----
-0.85-0.050.80
205715.7013.20-2.50
----
-0.86-0.050.81
205815.7413.20-2.54
----
-0.86-0.050.81
205915.7913.21-2.58
----
-0.87-0.050.82
206015.8313.21-2.62
----
-0.88-0.050.83
206115.8813.22-2.66
----
-0.88-0.050.83
206215.9213.22-2.70
----
-0.88-0.050.83
206315.9713.22-2.75
----
-0.89-0.050.84
206416.0113.22-2.79
----
-0.89-0.050.84
206516.0613.23-2.83
----
-0.90-0.050.84
206616.1113.23-2.88
----
-0.90-0.050.85
206716.1613.23-2.92
----
-0.90-0.050.85
206816.2113.24-2.97
----
-0.91-0.050.86
206916.2513.24-3.01
----
-0.91-0.050.86
207016.3013.24-3.05
----
-0.92-0.050.87
207116.3413.25-3.09
----
-0.93-0.050.87
207216.3713.25-3.12
----
-0.94-0.050.88
207316.3913.25-3.14
----
-0.95-0.050.90
207416.4013.25-3.15
----
-0.97-0.060.91
207516.4013.25-3.15
----
-0.99-0.060.93
207616.3913.25-3.14
----
-1.01-0.060.95
207716.3713.25-3.12
----
-1.04-0.060.98
207816.3413.25-3.09
----
-1.06-0.061.00
207916.3113.25-3.06
----
-1.10-0.061.03
208016.2713.25-3.02
----
-1.13-0.071.07
208116.2313.24-2.99
----
-1.17-0.071.10
208216.2013.24-2.95
----
-1.21-0.071.14
208316.1613.24-2.92
----
-1.26-0.071.18
208416.1313.24-2.90
----
-1.31-0.081.23
208516.1113.24-2.87
----
-1.36-0.081.28
208616.0913.24-2.85
----
-1.42-0.081.34
208716.0613.23-2.83
----
-1.48-0.091.39
208816.0413.23-2.81
----
-1.54-0.091.45
208916.0213.23-2.79
----
-1.61-0.091.51
209016.0013.23-2.77
----
-1.68-0.101.58
209115.9813.23-2.75
----
-1.75-0.101.64



 

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 15.86% 13.81% -2.05%
2034
-0.65% -0.04% 0.61%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016