Detailed Single Year Tables
Description of Proposed Provision:
B1.2: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2026: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in 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 |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.09 | 12.90 | -1.19 | 245 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.23 | 12.92 | -1.31 | 229 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.40 | 12.94 | -1.46 | 213 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.59 | 12.97 | -1.62 | 197 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.79 | 12.99 | -1.80 | 180 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 14.99 | 13.11 | -1.88 | 163 | -0.00 | -0.00 | 0.00 | ||
| 2027 | 15.19 | 13.13 | -2.06 | 147 | -0.00 | -0.00 | 0.00 | ||
| 2028 | 15.42 | 13.17 | -2.25 | 130 | -0.01 | -0.00 | 0.01 | ||
| 2029 | 15.61 | 13.19 | -2.42 | 114 | -0.01 | -0.00 | 0.01 | ||
| 2030 | 15.78 | 13.20 | -2.58 | 97 | -0.02 | -0.00 | 0.02 | ||
| 2031 | 15.93 | 13.21 | -2.71 | 81 | -0.04 | -0.00 | 0.04 | ||
| 2032 | 16.05 | 13.23 | -2.83 | 64 | -0.06 | -0.00 | 0.06 | ||
| 2033 | 16.15 | 13.23 | -2.92 | 47 | -0.08 | -0.00 | 0.08 | ||
| 2034 | 16.21 | 13.24 | -2.97 | 30 | -0.11 | -0.01 | 0.11 | ||
| 2035 | 16.25 | 13.24 | -3.01 | 12 | -0.15 | -0.01 | 0.14 | ||
| 2036 | 16.27 | 13.25 | -3.02 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2037 | 16.28 | 13.25 | -3.03 | ---- | -0.24 | -0.01 | 0.22 | ||
| 2038 | 16.28 | 13.25 | -3.02 | ---- | -0.29 | -0.01 | 0.27 | ||
| 2039 | 16.26 | 13.25 | -3.01 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2040 | 16.22 | 13.25 | -2.96 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2041 | 16.15 | 13.25 | -2.90 | ---- | -0.46 | -0.02 | 0.44 | ||
| 2042 | 16.07 | 13.25 | -2.82 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2043 | 15.97 | 13.24 | -2.72 | ---- | -0.59 | -0.03 | 0.56 | ||
| 2044 | 15.86 | 13.24 | -2.62 | ---- | -0.66 | -0.04 | 0.63 | ||
| 2045 | 15.75 | 13.23 | -2.52 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2046 | 15.64 | 13.23 | -2.42 | ---- | -0.81 | -0.04 | 0.76 | ||
| 2047 | 15.54 | 13.22 | -2.32 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2048 | 15.44 | 13.22 | -2.22 | ---- | -0.97 | -0.05 | 0.91 | ||
| 2049 | 15.34 | 13.21 | -2.12 | ---- | -1.05 | -0.06 | 0.99 | ||
| 2050 | 15.24 | 13.21 | -2.03 | ---- | -1.13 | -0.06 | 1.07 | ||
| 2051 | 15.14 | 13.20 | -1.94 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2052 | 15.06 | 13.20 | -1.86 | ---- | -1.31 | -0.07 | 1.23 | ||
| 2053 | 14.98 | 13.20 | -1.78 | ---- | -1.39 | -0.08 | 1.32 | ||
| 2054 | 14.90 | 13.19 | -1.71 | ---- | -1.48 | -0.08 | 1.40 | ||
| 2055 | 14.83 | 13.19 | -1.64 | ---- | -1.57 | -0.09 | 1.49 | ||
| 2056 | 14.77 | 13.19 | -1.59 | ---- | -1.67 | -0.09 | 1.57 | ||
| 2057 | 14.72 | 13.19 | -1.53 | ---- | -1.76 | -0.10 | 1.66 | ||
| 2058 | 14.67 | 13.18 | -1.49 | ---- | -1.85 | -0.10 | 1.75 | ||
| 2059 | 14.63 | 13.18 | -1.45 | ---- | -1.95 | -0.11 | 1.84 | ||
| 2060 | 14.59 | 13.18 | -1.40 | ---- | -2.04 | -0.12 | 1.93 | ||
| 2061 | 14.55 | 13.18 | -1.37 | ---- | -2.13 | -0.12 | 2.01 | ||
| 2062 | 14.51 | 13.18 | -1.33 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2063 | 14.47 | 13.18 | -1.29 | ---- | -2.32 | -0.13 | 2.19 | ||
| 2064 | 14.43 | 13.18 | -1.26 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2065 | 14.40 | 13.17 | -1.22 | ---- | -2.50 | -0.14 | 2.36 | ||
| 2066 | 14.37 | 13.17 | -1.19 | ---- | -2.59 | -0.15 | 2.44 | ||
| 2067 | 14.34 | 13.17 | -1.16 | ---- | -2.68 | -0.15 | 2.52 | ||
| 2068 | 14.31 | 13.17 | -1.14 | ---- | -2.77 | -0.16 | 2.61 | ||
| 2069 | 14.28 | 13.17 | -1.11 | ---- | -2.86 | -0.16 | 2.69 | ||
| 2070 | 14.25 | 13.17 | -1.08 | ---- | -2.94 | -0.17 | 2.77 | ||
| 2071 | 14.22 | 13.17 | -1.05 | ---- | -3.03 | -0.17 | 2.86 | ||
| 2072 | 14.19 | 13.17 | -1.02 | ---- | -3.12 | -0.18 | 2.94 | ||
| 2073 | 14.15 | 13.17 | -0.98 | ---- | -3.20 | -0.18 | 3.02 | ||
| 2074 | 14.11 | 13.16 | -0.94 | ---- | -3.28 | -0.19 | 3.09 | ||
| 2075 | 14.06 | 13.16 | -0.90 | ---- | -3.37 | -0.19 | 3.17 | ||
| 2076 | 14.01 | 13.16 | -0.85 | ---- | -3.44 | -0.20 | 3.25 | ||
| 2077 | 13.96 | 13.16 | -0.80 | ---- | -3.52 | -0.20 | 3.32 | ||
| 2078 | 13.89 | 13.15 | -0.74 | ---- | -3.59 | -0.21 | 3.39 | ||
| 2079 | 13.82 | 13.15 | -0.67 | ---- | -3.66 | -0.21 | 3.45 | ||
| 2080 | 13.74 | 13.14 | -0.59 | ---- | -3.73 | -0.22 | 3.51 | ||
| 2081 | 13.65 | 13.14 | -0.51 | ---- | -3.79 | -0.22 | 3.57 | ||
| 2082 | 13.57 | 13.14 | -0.44 | ---- | -3.85 | -0.22 | 3.63 | ||
| 2083 | 13.49 | 13.13 | -0.36 | ---- | -3.91 | -0.23 | 3.69 | ||
| 2084 | 13.41 | 13.13 | -0.28 | ---- | -3.97 | -0.23 | 3.74 | ||
| 2085 | 13.32 | 13.12 | -0.20 | ---- | -4.03 | -0.23 | 3.80 | ||
| 2086 | 13.25 | 13.12 | -0.13 | ---- | -4.09 | -0.24 | 3.85 | ||
| 2087 | 13.18 | 13.11 | -0.07 | ---- | -4.15 | -0.24 | 3.91 | ||
| 2088 | 13.11 | 13.11 | -0.01 | ---- | -4.21 | -0.24 | 3.97 | ||
| 2089 | 13.06 | 13.10 | 0.05 | ---- | -4.28 | -0.25 | 4.03 | ||
| 2090 | 13.01 | 13.10 | 0.09 | ---- | -4.34 | -0.25 | 4.09 | ||
| 2091 | 12.97 | 13.10 | 0.13 | ---- | -4.41 | -0.26 | 4.16 | ||
| 2092 | 12.94 | 13.10 | 0.16 | ---- | -4.48 | -0.26 | 4.22 | ||
| 2093 | 12.92 | 13.10 | 0.18 | ---- | -4.56 | -0.26 | 4.29 | ||
| 2094 | 12.89 | 13.10 | 0.20 | ---- | -4.63 | -0.27 | 4.36 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 14.93% | 13.72% | -1.21% | 2035 | -1.66% | -0.09% | 1.57% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.