## Summary Measures and Graphs

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2027 (excluding disabled workers), add a new bend point at the wage-indexed equivalent of the 50th percentile of the AIME distribution minus $100 (for 2015 eligibility) and change the PIA factors to 95/32/15/5. Also move the current-law first bend point from the wage-indexed equivalent of $960 in 2020 to $1,220 in 2020. Phase this provision in over 10 years (2027-2036). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2027, 80% of CL formula + 20% of proposal formula for 2028, and so on.

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2027 (excluding disabled workers), add a new bend point at the wage-indexed equivalent of the 50th percentile of the AIME distribution minus $100 (for 2015 eligibility) and change the PIA factors to 95/32/15/5. Also move the current-law first bend point from the wage-indexed equivalent of $960 in 2020 to $1,220 in 2020. Phase this provision in over 10 years (2027-2036). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2027, 80% of CL formula + 20% of proposal formula for 2028, and so on.

*Estimates based on the intermediate assumptions of the 2020 Trustees Report*

Summary Measures | |||||||
---|---|---|---|---|---|---|---|

Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||

Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||

-3.21 | -4.51 | 0.10 | 0.20 | 3% | 4% |