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Detailed Single Year Tables

Description of Proposed Provision:
Increase the PIA to a level such that a worker with 30 years of earnings at the minimum wage level receives an adjusted PIA equal to 120 percent of the Federal poverty level for an aged individual. This provision takes full effect for all newly eligible OASDI workers in 2034, and is phased in for new eligibles in 2025 through 2033. The percentage increase in PIA is lowered proportionately for those with fewer than 30 years of earnings, down to no enhancement for workers with 20 or fewer years of earnings. (Year-of-work requirements are "scaled" for disabled workers based on their years of potential work from age 22 to benefit eligibility). The benefit enhancement percentage is reduced proportionately for workers with higher average indexed monthly earnings (AIME), down to no enhancement for those with AIME at least twice that of a 35-year steady minimum wage earner.

 

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
202515.2913.11-2.17
165
0.000.000.00
202615.4713.13-2.34
149
0.000.000.00
202715.6513.14-2.51
132
0.000.000.00
202815.8213.16-2.66
115
0.010.00-0.01
202915.9813.17-2.81
98
0.010.00-0.01
203016.1113.18-2.93
81
0.010.00-0.01
203116.2413.19-3.05
63
0.020.00-0.01
203216.3513.20-3.15
45
0.020.00-0.02
203316.4313.21-3.22
27
0.020.00-0.02
203416.4913.21-3.28
8
0.020.00-0.02
203516.5213.22-3.31
----
0.030.00-0.03
203616.5813.22-3.36
----
0.030.00-0.03
203716.6313.23-3.40
----
0.030.00-0.03
203816.6413.23-3.41
----
0.030.00-0.03
203916.6413.23-3.41
----
0.030.00-0.03
204016.6213.23-3.39
----
0.030.00-0.03
204116.5913.23-3.36
----
0.030.00-0.03
204216.5613.23-3.33
----
0.030.00-0.03
204316.5313.23-3.30
----
0.030.00-0.03
204416.5013.23-3.27
----
0.030.00-0.03
204516.4813.23-3.25
----
0.030.00-0.03
204616.4613.23-3.23
----
0.030.00-0.03
204716.4413.23-3.20
----
0.030.00-0.03
204816.4213.23-3.19
----
0.030.00-0.03
204916.4013.23-3.17
----
0.030.00-0.03
205016.3913.23-3.16
----
0.030.00-0.03
205116.3913.23-3.16
----
0.030.00-0.03
205216.4113.24-3.17
----
0.030.00-0.03
205316.4313.24-3.19
----
0.030.00-0.03
205416.4613.24-3.22
----
0.030.00-0.03
205516.5013.24-3.25
----
0.030.00-0.03
205616.5413.25-3.29
----
0.030.00-0.03
205716.5913.25-3.33
----
0.030.00-0.03
205816.6313.26-3.38
----
0.030.00-0.03
205916.6813.26-3.42
----
0.030.00-0.02
206016.7313.26-3.47
----
0.020.00-0.02
206116.7813.27-3.51
----
0.020.00-0.02
206216.8313.27-3.56
----
0.020.00-0.02
206316.8713.27-3.60
----
0.020.00-0.02
206416.9213.28-3.64
----
0.010.00-0.01
206516.9713.28-3.69
----
0.010.00-0.01
206617.0213.28-3.73
----
0.010.00-0.01
206717.0713.29-3.78
----
0.010.00-0.01
206817.1213.29-3.83
----
0.010.00-0.01
206917.1713.29-3.88
----
0.010.00-0.01
207017.2213.30-3.92
----
0.000.000.00
207117.2713.30-3.97
----
0.000.000.00
207217.3113.30-4.00
----
0.000.000.00
207317.3413.31-4.04
----
0.000.000.00
207417.3713.31-4.06
----
0.000.000.00
207517.3913.31-4.08
----
0.000.000.00
207617.4113.31-4.10
----
0.000.000.00
207717.4113.31-4.10
----
0.000.000.00
207817.4113.31-4.10
----
0.000.000.00
207917.4113.31-4.10
----
0.000.000.00
208017.4013.31-4.09
----
0.000.000.00
208117.4013.31-4.09
----
0.000.000.00
208217.4113.31-4.10
----
0.000.000.00
208317.4213.31-4.11
----
0.000.000.00
208417.4413.31-4.13
----
0.000.000.00
208517.4713.32-4.15
----
0.000.000.00
208617.5013.32-4.19
----
0.000.000.00
208717.5413.32-4.22
----
0.000.000.00
208817.5913.32-4.26
----
0.000.000.00
208917.6313.33-4.31
----
0.000.000.00
209017.6813.33-4.35
----
0.000.000.00
209117.7213.33-4.39
----
0.000.000.00



 

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 16.52% 13.85% -2.67%
2034
0.01% 0.00% -0.01%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016