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Detailed Single Year Tables

Description of Proposed Provision:
B3.16: For retired worker and disabled worker beneficiaries becoming initially eligible in January 2024 or later, phase in a new benefit formula (from 2024 to 2033). Replace the existing two primary insurance amount (PIA) bend points with three new bend points as follows: (1) 25% AWI/12 from 2 years prior to initial eligibility; (2) 100% AWI/12 from 2 years prior to initial eligibility; and (3) 125% AWI/12 from 2 years prior to initial eligibility. The new PIA factors are 95%, 27.5%, 5% and 2%. During the phase in, those becoming newly eligible for benefits will receive an increasing portion of their benefits based on the new formula, reaching 100% of the new formula in 2033.

 

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
202515.1013.10-1.99
182
-0.00-0.000.00
202615.3613.13-2.23
165
-0.01-0.000.01
202715.6013.15-2.45
148
-0.01-0.000.01
202815.8313.17-2.66
130
-0.02-0.000.02
202916.0313.18-2.85
113
-0.04-0.000.04
203016.2113.19-3.01
95
-0.06-0.000.06
203116.3613.20-3.16
77
-0.09-0.000.08
203216.4813.21-3.27
58
-0.13-0.010.12
203316.5713.22-3.35
39
-0.17-0.010.16
203416.6213.22-3.40
20
-0.23-0.010.21
203516.6413.22-3.42
----
-0.28-0.020.27
203616.6413.23-3.42
----
-0.35-0.020.33
203716.6113.23-3.38
----
-0.41-0.020.39
203816.5413.22-3.31
----
-0.48-0.030.46
203916.4413.22-3.22
----
-0.55-0.030.52
204016.3413.21-3.12
----
-0.62-0.030.59
204116.2213.21-3.02
----
-0.69-0.040.65
204216.1013.20-2.90
----
-0.76-0.040.71
204315.9913.20-2.79
----
-0.82-0.050.77
204415.8813.19-2.69
----
-0.88-0.050.83
204515.7813.18-2.60
----
-0.94-0.050.89
204615.6913.18-2.51
----
-0.99-0.060.94
204715.6013.18-2.42
----
-1.05-0.060.99
204815.5213.17-2.34
----
-1.10-0.061.04
204915.4413.17-2.27
----
-1.15-0.061.08
205015.3713.16-2.21
----
-1.20-0.071.13
205115.3213.16-2.15
----
-1.24-0.071.17
205215.2713.16-2.11
----
-1.28-0.071.21
205315.2513.16-2.09
----
-1.32-0.071.25
205415.2313.16-2.07
----
-1.36-0.081.28
205515.2213.16-2.06
----
-1.40-0.081.32
205615.2313.16-2.07
----
-1.43-0.081.35
205715.2413.16-2.07
----
-1.46-0.081.38
205815.2513.16-2.09
----
-1.49-0.081.40
205915.2713.16-2.11
----
-1.51-0.091.43
206015.2913.17-2.13
----
-1.53-0.091.45
206115.3213.17-2.15
----
-1.55-0.091.46
206215.3513.17-2.18
----
-1.57-0.091.48
206315.3913.17-2.21
----
-1.58-0.091.49
206415.4213.17-2.25
----
-1.59-0.091.50
206515.4613.18-2.28
----
-1.60-0.091.51
206615.5013.18-2.32
----
-1.61-0.091.52
206715.5513.18-2.36
----
-1.62-0.091.53
206815.5913.19-2.41
----
-1.63-0.091.54
206915.6413.19-2.45
----
-1.64-0.091.54
207015.6813.19-2.49
----
-1.64-0.091.55
207115.7213.19-2.53
----
-1.65-0.091.56
207215.7613.20-2.56
----
-1.66-0.091.56
207315.7913.20-2.59
----
-1.66-0.091.56
207415.8213.20-2.62
----
-1.66-0.091.57
207515.8413.20-2.64
----
-1.67-0.101.57
207615.8513.20-2.65
----
-1.67-0.101.57
207715.8613.20-2.65
----
-1.67-0.101.57
207815.8513.20-2.65
----
-1.67-0.101.57
207915.8513.20-2.64
----
-1.67-0.101.57
208015.8413.20-2.64
----
-1.67-0.101.57
208115.8413.20-2.64
----
-1.67-0.101.57
208215.8413.20-2.64
----
-1.67-0.101.57
208315.8413.20-2.64
----
-1.67-0.101.57
208415.8613.20-2.66
----
-1.67-0.101.57
208515.8813.20-2.67
----
-1.67-0.101.58
208615.9113.21-2.70
----
-1.67-0.101.58
208715.9413.21-2.73
----
-1.68-0.101.58
208815.9713.21-2.77
----
-1.68-0.101.59
208916.0113.21-2.80
----
-1.69-0.101.59
209016.0613.21-2.84
----
-1.69-0.101.59
209116.1013.22-2.88
----
-1.70-0.101.60
209216.1413.22-2.92
----
-1.70-0.101.60



 

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 15.73% 13.79% -1.94%
2034
-0.94% -0.05% 0.89%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017