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Detailed Single Year Tables

Description of Proposed Provision:
B3.12: Use an annualized "mini-PIA" formula beginning with retired workers newly eligible in 2024. For each indexed earnings year, compute an individual AIME and an individual PIA. Sum these individual PIAs for the 40 highest years of indexed earnings and divide that total amount by 37 to get the PIA for this provision. Phase-in over five years, meaning that in 2024, 80 percent of the benefit would be based on the old 35-year average PIA formula and 20 percent on the new mini-PIA formula, shifting by 20 percentage points each year until 100 percent is based on the new mini-PIA formula for those attaining age 62 in 2028. Disabled worker benefits are unchanged under this provision.

 

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
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8512.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.000.000.00
202214.2613.02-1.23
230
0.000.000.00
202314.5413.05-1.50
215
0.000.000.00
202414.8313.08-1.74
199
-0.00-0.000.00
202515.0913.10-1.99
182
-0.00-0.000.00
202615.3613.13-2.23
165
-0.01-0.000.01
202715.6013.15-2.45
148
-0.02-0.000.02
202815.8213.17-2.65
131
-0.03-0.000.03
202916.0113.18-2.84
113
-0.05-0.000.05
203016.2013.19-3.01
95
-0.07-0.000.07
203116.3613.20-3.16
77
-0.09-0.000.08
203216.5013.21-3.29
58
-0.11-0.010.10
203316.6213.22-3.40
39
-0.12-0.010.12
203416.7113.23-3.48
19
-0.14-0.010.13
203516.7713.23-3.54
----
-0.16-0.010.15
203616.8113.23-3.58
----
-0.18-0.010.17
203716.8313.24-3.59
----
-0.19-0.010.18
203816.8213.24-3.58
----
-0.20-0.010.19
203916.7813.24-3.54
----
-0.22-0.010.20
204016.7313.23-3.50
----
-0.23-0.010.21
204116.6813.23-3.44
----
-0.24-0.010.22
204216.6113.23-3.38
----
-0.25-0.010.23
204316.5513.23-3.32
----
-0.26-0.010.24
204416.4913.22-3.27
----
-0.27-0.020.25
204516.4413.22-3.22
----
-0.28-0.020.26
204616.3913.22-3.17
----
-0.29-0.020.27
204716.3513.22-3.13
----
-0.30-0.020.28
204816.3113.22-3.09
----
-0.31-0.020.29
204916.2713.21-3.05
----
-0.32-0.020.30
205016.2413.21-3.02
----
-0.33-0.020.31
205116.2113.21-3.00
----
-0.34-0.020.32
205216.2113.21-2.99
----
-0.35-0.020.33
205316.2113.21-3.00
----
-0.36-0.020.34
205416.2213.21-3.01
----
-0.37-0.020.35
205516.2413.22-3.03
----
-0.38-0.020.35
205616.2713.22-3.05
----
-0.38-0.020.36
205716.3113.22-3.08
----
-0.39-0.020.37
205816.3413.22-3.12
----
-0.40-0.020.37
205916.3813.23-3.15
----
-0.40-0.020.38
206016.4213.23-3.19
----
-0.41-0.020.38
206116.4613.23-3.23
----
-0.41-0.020.39
206216.5113.24-3.27
----
-0.41-0.020.39
206316.5513.24-3.31
----
-0.42-0.020.39
206416.6013.24-3.36
----
-0.42-0.020.40
206516.6413.24-3.40
----
-0.42-0.020.40
206616.6913.25-3.45
----
-0.42-0.020.40
206716.7413.25-3.49
----
-0.42-0.020.40
206816.8013.25-3.54
----
-0.43-0.020.40
206916.8513.26-3.59
----
-0.43-0.020.40
207016.9013.26-3.64
----
-0.43-0.020.40
207116.9413.26-3.68
----
-0.43-0.020.40
207216.9813.27-3.72
----
-0.43-0.020.41
207317.0213.27-3.75
----
-0.43-0.020.41
207417.0513.27-3.78
----
-0.43-0.020.41
207517.0713.27-3.80
----
-0.43-0.020.41
207617.0913.27-3.81
----
-0.43-0.020.41
207717.0913.27-3.82
----
-0.43-0.020.41
207817.0913.27-3.82
----
-0.43-0.020.41
207917.0913.27-3.81
----
-0.43-0.020.40
208017.0813.27-3.81
----
-0.43-0.020.40
208117.0813.27-3.81
----
-0.43-0.020.40
208217.0813.27-3.81
----
-0.43-0.020.40
208317.0913.27-3.82
----
-0.42-0.020.40
208417.1013.27-3.83
----
-0.42-0.020.40
208517.1313.28-3.85
----
-0.42-0.020.40
208617.1613.28-3.88
----
-0.42-0.020.40
208717.1913.28-3.91
----
-0.42-0.020.40
208817.2313.28-3.95
----
-0.43-0.020.40
208917.2713.28-3.99
----
-0.43-0.020.40
209017.3213.29-4.03
----
-0.43-0.020.40
209117.3713.29-4.08
----
-0.43-0.020.40
209217.4113.29-4.12
----
-0.43-0.020.41



 

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
 
Based on Intermediate Assumptions of the 2017 Trustees Report.
2017-2091 16.40% 13.82% -2.58%
2034
-0.27% -0.01% 0.25%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017