Detailed Single Year Tables
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.
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 |
|||
| 2020 | 13.92 | 13.00 | -0.92 | 261 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.05 | 12.90 | -1.15 | 248 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.25 | 12.93 | -1.32 | 233 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.94 | -1.49 | 217 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.98 | -1.67 | 200 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.88 | 13.00 | -1.88 | 183 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.11 | 13.12 | -1.99 | 165 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.35 | 13.15 | -2.20 | 148 | 0.00 | 0.00 | -0.00 | ||
| 2028 | 15.58 | 13.19 | -2.40 | 130 | 0.00 | 0.00 | -0.00 | ||
| 2029 | 15.83 | 13.23 | -2.61 | 112 | 0.00 | 0.00 | -0.00 | ||
| 2030 | 16.03 | 13.24 | -2.78 | 94 | 0.00 | 0.00 | -0.00 | ||
| 2031 | 16.19 | 13.26 | -2.94 | 76 | 0.01 | 0.00 | -0.01 | ||
| 2032 | 16.34 | 13.27 | -3.07 | 57 | 0.01 | 0.00 | -0.01 | ||
| 2033 | 16.46 | 13.28 | -3.19 | 39 | 0.01 | 0.00 | -0.01 | ||
| 2034 | 16.56 | 13.29 | -3.28 | 20 | 0.01 | 0.00 | -0.01 | ||
| 2035 | 16.64 | 13.29 | -3.35 | 1 | 0.01 | 0.00 | -0.01 | ||
| 2036 | 16.70 | 13.30 | -3.40 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2037 | 16.75 | 13.31 | -3.44 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2038 | 16.79 | 13.31 | -3.48 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2039 | 16.82 | 13.31 | -3.51 | ---- | 0.00 | 0.00 | -0.00 | ||
| 2040 | 16.84 | 13.32 | -3.53 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2041 | 16.84 | 13.32 | -3.53 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2042 | 16.84 | 13.32 | -3.52 | ---- | -0.02 | -0.00 | 0.02 | ||
| 2043 | 16.82 | 13.32 | -3.50 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2044 | 16.79 | 13.32 | -3.47 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2045 | 16.76 | 13.32 | -3.45 | ---- | -0.06 | -0.00 | 0.05 | ||
| 2046 | 16.73 | 13.32 | -3.42 | ---- | -0.07 | -0.00 | 0.06 | ||
| 2047 | 16.71 | 13.32 | -3.40 | ---- | -0.08 | -0.00 | 0.07 | ||
| 2048 | 16.70 | 13.32 | -3.39 | ---- | -0.09 | -0.01 | 0.08 | ||
| 2049 | 16.69 | 13.32 | -3.37 | ---- | -0.09 | -0.01 | 0.09 | ||
| 2050 | 16.68 | 13.32 | -3.37 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2051 | 16.68 | 13.32 | -3.36 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2052 | 16.69 | 13.32 | -3.37 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2053 | 16.70 | 13.32 | -3.38 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2054 | 16.72 | 13.32 | -3.40 | ---- | -0.13 | -0.01 | 0.13 | ||
| 2055 | 16.75 | 13.33 | -3.43 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2056 | 16.78 | 13.33 | -3.46 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2057 | 16.82 | 13.33 | -3.49 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2058 | 16.87 | 13.34 | -3.53 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2059 | 16.92 | 13.34 | -3.58 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2060 | 16.98 | 13.35 | -3.63 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2061 | 17.03 | 13.35 | -3.68 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2062 | 17.09 | 13.36 | -3.73 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2063 | 17.15 | 13.36 | -3.79 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2064 | 17.21 | 13.36 | -3.84 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2065 | 17.27 | 13.37 | -3.90 | ---- | -0.19 | -0.01 | 0.17 | ||
| 2066 | 17.34 | 13.37 | -3.96 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2067 | 17.40 | 13.38 | -4.02 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2068 | 17.47 | 13.38 | -4.09 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2069 | 17.54 | 13.39 | -4.15 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2070 | 17.61 | 13.39 | -4.21 | ---- | -0.20 | -0.01 | 0.18 | ||
| 2071 | 17.67 | 13.40 | -4.27 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2072 | 17.73 | 13.40 | -4.33 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2073 | 17.78 | 13.41 | -4.38 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2074 | 17.83 | 13.41 | -4.42 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2075 | 17.88 | 13.41 | -4.46 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2076 | 17.91 | 13.42 | -4.49 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2077 | 17.93 | 13.42 | -4.52 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2078 | 17.95 | 13.42 | -4.53 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2079 | 17.94 | 13.42 | -4.52 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2080 | 17.93 | 13.42 | -4.51 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2081 | 17.91 | 13.42 | -4.49 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2082 | 17.89 | 13.42 | -4.47 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2083 | 17.86 | 13.42 | -4.44 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2084 | 17.82 | 13.42 | -4.41 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2085 | 17.79 | 13.41 | -4.37 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2086 | 17.75 | 13.41 | -4.34 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2087 | 17.71 | 13.41 | -4.30 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2088 | 17.68 | 13.41 | -4.28 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2089 | 17.66 | 13.40 | -4.26 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2090 | 17.65 | 13.40 | -4.25 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2091 | 17.66 | 13.40 | -4.25 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2092 | 17.67 | 13.41 | -4.26 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2093 | 17.69 | 13.41 | -4.28 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2094 | 17.72 | 13.41 | -4.31 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2095 | 17.76 | 13.41 | -4.35 | ---- | -0.22 | -0.01 | 0.20 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2020-2094 | 16.95% | 13.84% | -3.11% | 2035 | -0.11% | -0.01% | 0.10% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2020 Trustees Report.