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Detailed Single Year Tables

Description of Proposed Provision:
Starting in 2023, provide a uniform PIA increase 23 years after benefit eligibility. Phase in the PIA increase at 0.5 percent per year from the 14th through the 23rd years after eligibility. The full PIA increase is equal to 5 percent of the average retired worker PIA in December of the 12th year after benefit eligibility. A similar additional PIA increase applies 42 years after benefit eligibility (age 104), phased in from the 33rd through the 42nd years after eligibility. For those past the 14th year of eligibility in 2023 (over age 76 for retirees), phase in the PIA enhancement over 10 years starting in 2023. Auxiliary beneficiaries receive benefit enhancement based on the PIA of the governing worker.

 

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
202314.7813.06-1.73
199
0.030.00-0.03
202415.0813.09-1.98
182
0.050.00-0.05
202515.3613.11-2.25
164
0.080.00-0.07
202615.5713.13-2.44
147
0.100.01-0.10
202715.7713.15-2.62
129
0.120.01-0.12
202815.9613.16-2.79
112
0.140.01-0.14
202916.1313.18-2.95
94
0.160.01-0.15
203016.2813.19-3.09
76
0.180.01-0.17
203116.4213.20-3.22
58
0.200.01-0.19
203216.5413.21-3.33
39
0.220.01-0.20
203316.6313.22-3.41
19
0.220.01-0.21
203416.6913.22-3.47
----
0.230.01-0.21
203516.7313.23-3.50
----
0.230.01-0.22
203616.7913.23-3.56
----
0.240.01-0.23
203716.8413.24-3.60
----
0.240.01-0.23
203816.8613.24-3.62
----
0.250.01-0.24
203916.8613.24-3.62
----
0.250.01-0.24
204016.8513.25-3.60
----
0.260.01-0.24
204116.8213.25-3.58
----
0.260.01-0.25
204216.8013.25-3.55
----
0.260.01-0.25
204316.7713.25-3.52
----
0.270.01-0.25
204416.7413.24-3.49
----
0.270.01-0.25
204516.7213.25-3.47
----
0.270.01-0.25
204616.7013.25-3.45
----
0.270.01-0.26
204716.6713.25-3.43
----
0.270.01-0.26
204816.6613.25-3.41
----
0.270.01-0.26
204916.6413.25-3.39
----
0.270.01-0.26
205016.6313.25-3.38
----
0.270.01-0.25
205116.6313.25-3.38
----
0.270.01-0.25
205216.6413.25-3.39
----
0.270.01-0.25
205316.6613.25-3.41
----
0.270.01-0.25
205416.6913.25-3.44
----
0.270.01-0.25
205516.7313.26-3.47
----
0.270.01-0.25
205616.7713.26-3.51
----
0.270.01-0.25
205716.8213.26-3.56
----
0.270.01-0.25
205816.8713.27-3.60
----
0.270.01-0.25
205916.9213.27-3.65
----
0.270.01-0.25
206016.9713.28-3.70
----
0.270.01-0.25
206117.0313.28-3.75
----
0.270.01-0.25
206217.0813.28-3.79
----
0.270.01-0.26
206317.1313.29-3.84
----
0.270.02-0.26
206417.1813.29-3.89
----
0.270.02-0.26
206517.2313.29-3.94
----
0.280.02-0.26
206617.2913.30-3.99
----
0.280.02-0.26
206717.3413.30-4.04
----
0.280.02-0.27
206817.4013.31-4.09
----
0.290.02-0.27
206917.4513.31-4.14
----
0.290.02-0.27
207017.5113.31-4.19
----
0.290.02-0.27
207117.5613.32-4.24
----
0.290.02-0.28
207217.6013.32-4.28
----
0.300.02-0.28
207317.6413.32-4.32
----
0.300.02-0.28
207417.6713.32-4.35
----
0.300.02-0.28
207517.6913.33-4.37
----
0.300.02-0.29
207617.7113.33-4.38
----
0.310.02-0.29
207717.7213.33-4.39
----
0.310.02-0.29
207817.7213.33-4.39
----
0.310.02-0.29
207917.7213.33-4.39
----
0.310.02-0.29
208017.7113.33-4.38
----
0.310.02-0.29
208117.7113.33-4.38
----
0.310.02-0.30
208217.7213.33-4.39
----
0.310.02-0.30
208317.7313.33-4.40
----
0.320.02-0.30
208417.7613.33-4.43
----
0.320.02-0.30
208517.7913.33-4.45
----
0.320.02-0.30
208617.8213.34-4.49
----
0.320.02-0.30
208717.8613.34-4.52
----
0.320.02-0.30
208817.9113.34-4.57
----
0.320.02-0.30
208917.9513.34-4.61
----
0.320.02-0.30
209018.0013.35-4.65
----
0.320.02-0.30
209118.0513.35-4.70
----
0.320.02-0.31



 

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 16.73% 13.86% -2.87%
2033
0.22% 0.01% -0.21%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016