Detailed Single Year Tables
Description of Proposed Provision:
B1.5: Progressive price indexing (60th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2026: Create a new bend point at the 60th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 60th percentile and below. Reduce the 32 and 15 percent factors above the 60th 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 | 15.43 | 13.17 | -2.25 | 130 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.62 | 13.19 | -2.43 | 114 | -0.01 | -0.00 | 0.01 | ||
| 2030 | 15.79 | 13.20 | -2.59 | 97 | -0.01 | -0.00 | 0.01 | ||
| 2031 | 15.95 | 13.22 | -2.73 | 81 | -0.02 | -0.00 | 0.02 | ||
| 2032 | 16.08 | 13.23 | -2.85 | 64 | -0.03 | -0.00 | 0.03 | ||
| 2033 | 16.19 | 13.24 | -2.96 | 46 | -0.04 | -0.00 | 0.04 | ||
| 2034 | 16.27 | 13.24 | -3.03 | 29 | -0.06 | -0.00 | 0.05 | ||
| 2035 | 16.32 | 13.25 | -3.07 | 11 | -0.08 | -0.00 | 0.07 | ||
| 2036 | 16.36 | 13.25 | -3.11 | ---- | -0.10 | -0.01 | 0.09 | ||
| 2037 | 16.39 | 13.26 | -3.14 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2038 | 16.41 | 13.26 | -3.15 | ---- | -0.15 | -0.01 | 0.15 | ||
| 2039 | 16.42 | 13.26 | -3.16 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2040 | 16.40 | 13.26 | -3.14 | ---- | -0.22 | -0.01 | 0.21 | ||
| 2041 | 16.36 | 13.26 | -3.10 | ---- | -0.25 | -0.01 | 0.24 | ||
| 2042 | 16.30 | 13.26 | -3.04 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2043 | 16.23 | 13.25 | -2.97 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2044 | 16.15 | 13.25 | -2.90 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2045 | 16.08 | 13.25 | -2.83 | ---- | -0.41 | -0.02 | 0.39 | ||
| 2046 | 16.00 | 13.24 | -2.75 | ---- | -0.45 | -0.03 | 0.43 | ||
| 2047 | 15.93 | 13.24 | -2.69 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2048 | 15.86 | 13.24 | -2.62 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2049 | 15.79 | 13.24 | -2.56 | ---- | -0.59 | -0.03 | 0.56 | ||
| 2050 | 15.73 | 13.23 | -2.49 | ---- | -0.64 | -0.04 | 0.60 | ||
| 2051 | 15.67 | 13.23 | -2.44 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2052 | 15.62 | 13.23 | -2.39 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2053 | 15.58 | 13.23 | -2.35 | ---- | -0.79 | -0.04 | 0.75 | ||
| 2054 | 15.54 | 13.23 | -2.32 | ---- | -0.84 | -0.05 | 0.79 | ||
| 2055 | 15.51 | 13.23 | -2.29 | ---- | -0.90 | -0.05 | 0.84 | ||
| 2056 | 15.49 | 13.23 | -2.27 | ---- | -0.95 | -0.05 | 0.89 | ||
| 2057 | 15.48 | 13.23 | -2.25 | ---- | -1.00 | -0.06 | 0.94 | ||
| 2058 | 15.47 | 13.23 | -2.24 | ---- | -1.06 | -0.06 | 1.00 | ||
| 2059 | 15.47 | 13.23 | -2.24 | ---- | -1.11 | -0.06 | 1.05 | ||
| 2060 | 15.46 | 13.23 | -2.23 | ---- | -1.17 | -0.07 | 1.10 | ||
| 2061 | 15.46 | 13.23 | -2.23 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2062 | 15.46 | 13.23 | -2.23 | ---- | -1.27 | -0.07 | 1.20 | ||
| 2063 | 15.47 | 13.23 | -2.23 | ---- | -1.32 | -0.08 | 1.25 | ||
| 2064 | 15.47 | 13.23 | -2.24 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2065 | 15.48 | 13.23 | -2.24 | ---- | -1.42 | -0.08 | 1.34 | ||
| 2066 | 15.49 | 13.24 | -2.25 | ---- | -1.47 | -0.09 | 1.38 | ||
| 2067 | 15.50 | 13.24 | -2.26 | ---- | -1.51 | -0.09 | 1.43 | ||
| 2068 | 15.52 | 13.24 | -2.28 | ---- | -1.56 | -0.09 | 1.47 | ||
| 2069 | 15.53 | 13.24 | -2.29 | ---- | -1.60 | -0.09 | 1.51 | ||
| 2070 | 15.56 | 13.24 | -2.31 | ---- | -1.64 | -0.10 | 1.54 | ||
| 2071 | 15.57 | 13.24 | -2.33 | ---- | -1.68 | -0.10 | 1.58 | ||
| 2072 | 15.59 | 13.25 | -2.35 | ---- | -1.71 | -0.10 | 1.61 | ||
| 2073 | 15.61 | 13.25 | -2.36 | ---- | -1.74 | -0.10 | 1.64 | ||
| 2074 | 15.62 | 13.25 | -2.37 | ---- | -1.77 | -0.10 | 1.67 | ||
| 2075 | 15.63 | 13.25 | -2.38 | ---- | -1.80 | -0.11 | 1.69 | ||
| 2076 | 15.63 | 13.25 | -2.38 | ---- | -1.82 | -0.11 | 1.72 | ||
| 2077 | 15.63 | 13.25 | -2.38 | ---- | -1.85 | -0.11 | 1.74 | ||
| 2078 | 15.62 | 13.25 | -2.37 | ---- | -1.86 | -0.11 | 1.75 | ||
| 2079 | 15.60 | 13.25 | -2.35 | ---- | -1.88 | -0.11 | 1.77 | ||
| 2080 | 15.57 | 13.25 | -2.32 | ---- | -1.89 | -0.11 | 1.78 | ||
| 2081 | 15.54 | 13.25 | -2.29 | ---- | -1.90 | -0.11 | 1.79 | ||
| 2082 | 15.51 | 13.25 | -2.27 | ---- | -1.91 | -0.11 | 1.80 | ||
| 2083 | 15.48 | 13.24 | -2.24 | ---- | -1.92 | -0.11 | 1.81 | ||
| 2084 | 15.45 | 13.24 | -2.21 | ---- | -1.93 | -0.11 | 1.81 | ||
| 2085 | 15.42 | 13.24 | -2.18 | ---- | -1.93 | -0.11 | 1.82 | ||
| 2086 | 15.40 | 13.24 | -2.16 | ---- | -1.94 | -0.11 | 1.82 | ||
| 2087 | 15.39 | 13.24 | -2.15 | ---- | -1.94 | -0.12 | 1.83 | ||
| 2088 | 15.38 | 13.24 | -2.14 | ---- | -1.95 | -0.12 | 1.83 | ||
| 2089 | 15.39 | 13.24 | -2.15 | ---- | -1.95 | -0.12 | 1.83 | ||
| 2090 | 15.40 | 13.24 | -2.16 | ---- | -1.96 | -0.12 | 1.84 | ||
| 2091 | 15.43 | 13.24 | -2.19 | ---- | -1.96 | -0.12 | 1.85 | ||
| 2092 | 15.46 | 13.24 | -2.22 | ---- | -1.97 | -0.12 | 1.85 | ||
| 2093 | 15.50 | 13.24 | -2.25 | ---- | -1.98 | -0.12 | 1.86 | ||
| 2094 | 15.54 | 13.25 | -2.29 | ---- | -1.98 | -0.12 | 1.87 | ||
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 | 15.73% | 13.76% | -1.97% | 2035 | -0.87% | -0.05% | 0.82% | ||
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.