Description of Proposed Provision:
B6.5: Starting in 2021, provide a 5 percent uniform PIA increase 20 years after benefit eligibility. Phase in the PIA increase at 1 percent per year from the 16th through 20th years after eligibility. The full PIA increase is equal to 5 percent of the PIA of a worker assumed to have career-average earnings equal to the SSA average wage index.

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
201813.8112.64-1.17
288
0.000.000.00
201913.9512.87-1.08
272
0.000.000.00
202014.1212.89-1.23
256
0.000.000.00
202114.4312.93-1.51
237
0.160.01-0.15
202214.6012.95-1.65
219
0.160.01-0.16
202314.7912.97-1.82
201
0.170.01-0.16
202414.9813.00-1.98
183
0.170.01-0.17
202515.1613.02-2.15
165
0.180.01-0.17
202615.3413.14-2.20
147
0.190.01-0.18
202715.5613.16-2.39
130
0.190.01-0.18
202815.7813.18-2.60
112
0.200.01-0.19
202916.0013.20-2.80
94
0.210.01-0.20
203016.2013.21-2.98
76
0.210.01-0.20
203116.3813.23-3.15
58
0.220.01-0.21
203216.5413.24-3.30
39
0.220.01-0.21
203316.6813.25-3.43
20
0.230.01-0.21
203416.8013.26-3.54
----
0.230.01-0.22
203516.8913.27-3.62
----
0.240.01-0.22
203616.9713.27-3.69
----
0.240.01-0.23
203717.0313.28-3.75
----
0.250.01-0.23
203817.0813.28-3.79
----
0.250.01-0.24
203917.0913.29-3.80
----
0.260.01-0.24
204017.0913.29-3.80
----
0.260.01-0.25
204117.0813.29-3.79
----
0.270.02-0.25
204217.0513.29-3.76
----
0.270.02-0.26
204317.0113.29-3.72
----
0.270.02-0.26
204416.9713.29-3.69
----
0.280.02-0.26
204516.9413.28-3.65
----
0.280.02-0.26
204616.9113.28-3.62
----
0.280.02-0.26
204716.8813.28-3.60
----
0.280.02-0.26
204816.8613.28-3.57
----
0.280.02-0.27
204916.8413.28-3.55
----
0.280.02-0.27
205016.8213.28-3.54
----
0.280.02-0.27
205116.8213.28-3.53
----
0.280.02-0.27
205216.8213.29-3.53
----
0.280.02-0.27
205316.8213.29-3.54
----
0.280.02-0.26
205416.8413.29-3.55
----
0.280.02-0.26
205516.8713.29-3.58
----
0.280.02-0.26
205616.9013.29-3.61
----
0.280.02-0.26
205716.9413.30-3.64
----
0.280.02-0.26
205816.9913.30-3.69
----
0.280.02-0.26
205917.0413.31-3.73
----
0.280.02-0.26
206017.0913.31-3.78
----
0.280.02-0.26
206117.1413.32-3.82
----
0.280.02-0.26
206217.1913.32-3.87
----
0.280.02-0.27
206317.2513.32-3.92
----
0.290.02-0.27
206417.3013.33-3.97
----
0.290.02-0.27
206517.3613.33-4.03
----
0.290.02-0.27
206617.4213.34-4.08
----
0.290.02-0.28
206717.4813.34-4.14
----
0.300.02-0.28
206817.5413.34-4.20
----
0.300.02-0.28
206917.6113.35-4.26
----
0.300.02-0.28
207017.6713.35-4.32
----
0.310.02-0.29
207117.7313.36-4.37
----
0.310.02-0.29
207217.7813.36-4.42
----
0.310.02-0.29
207317.8313.36-4.46
----
0.310.02-0.30
207417.8713.37-4.50
----
0.320.02-0.30
207517.9113.37-4.53
----
0.320.02-0.30
207617.9313.37-4.56
----
0.320.02-0.30
207717.9513.37-4.57
----
0.320.02-0.30
207817.9513.38-4.57
----
0.320.02-0.30
207917.9413.38-4.57
----
0.320.02-0.31
208017.9313.37-4.56
----
0.330.02-0.31
208117.9213.37-4.54
----
0.330.02-0.31
208217.9013.37-4.53
----
0.330.02-0.31
208317.8813.37-4.51
----
0.330.02-0.31
208417.8713.37-4.50
----
0.330.02-0.31
208517.8613.37-4.49
----
0.330.02-0.31
208617.8613.37-4.49
----
0.330.02-0.31
208717.8713.37-4.50
----
0.330.02-0.31
208817.8813.37-4.51
----
0.340.02-0.32
208917.9013.37-4.53
----
0.340.02-0.32
209017.9413.37-4.56
----
0.340.02-0.32
209117.9713.38-4.60
----
0.340.02-0.32
209218.0213.38-4.64
----
0.340.02-0.32
209318.0613.38-4.68
----
0.340.02-0.32


Summarized Estimates

  Proposal   Change from Current Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
2018-2092 16.95% 13.86% -3.09%
2033
0.26% 0.01% -0.24%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2018 Trustees Report.