Detailed Single Year Tables
Description of Proposed Provision:
B1.8: Progressive price indexing (50th percentile) of PIA factors for individuals newly eligible for OASI benefits in 2025 through 2064: Create a new bend point at the 50th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 50th percentile and below. Reduce the 32 and 15 percent factors above the 50th 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. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.
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 | 15.34 | 13.15 | -2.20 | 148 | -0.00 | -0.00 | 0.00 | ||
| 2028 | 15.58 | 13.19 | -2.39 | 130 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.82 | 13.23 | -2.60 | 112 | -0.01 | -0.00 | 0.01 | ||
| 2030 | 16.01 | 13.24 | -2.77 | 94 | -0.01 | -0.00 | 0.01 | ||
| 2031 | 16.16 | 13.25 | -2.91 | 76 | -0.02 | -0.00 | 0.02 | ||
| 2032 | 16.30 | 13.27 | -3.03 | 58 | -0.04 | -0.00 | 0.03 | ||
| 2033 | 16.40 | 13.27 | -3.13 | 40 | -0.05 | -0.00 | 0.05 | ||
| 2034 | 16.48 | 13.28 | -3.20 | 21 | -0.07 | -0.00 | 0.07 | ||
| 2035 | 16.53 | 13.29 | -3.25 | 2 | -0.09 | -0.01 | 0.09 | ||
| 2036 | 16.57 | 13.29 | -3.27 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2037 | 16.59 | 13.30 | -3.29 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2038 | 16.60 | 13.30 | -3.30 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2039 | 16.60 | 13.30 | -3.30 | ---- | -0.22 | -0.01 | 0.21 | ||
| 2040 | 16.59 | 13.30 | -3.29 | ---- | -0.26 | -0.02 | 0.24 | ||
| 2041 | 16.56 | 13.30 | -3.26 | ---- | -0.30 | -0.02 | 0.28 | ||
| 2042 | 16.52 | 13.30 | -3.22 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2043 | 16.47 | 13.30 | -3.17 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2044 | 16.40 | 13.29 | -3.11 | ---- | -0.43 | -0.03 | 0.40 | ||
| 2045 | 16.34 | 13.29 | -3.05 | ---- | -0.48 | -0.03 | 0.45 | ||
| 2046 | 16.27 | 13.29 | -2.99 | ---- | -0.53 | -0.03 | 0.49 | ||
| 2047 | 16.21 | 13.28 | -2.93 | ---- | -0.58 | -0.03 | 0.54 | ||
| 2048 | 16.16 | 13.28 | -2.87 | ---- | -0.63 | -0.04 | 0.59 | ||
| 2049 | 16.10 | 13.28 | -2.82 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2050 | 16.04 | 13.28 | -2.77 | ---- | -0.74 | -0.05 | 0.70 | ||
| 2051 | 15.99 | 13.28 | -2.72 | ---- | -0.80 | -0.05 | 0.75 | ||
| 2052 | 15.95 | 13.27 | -2.68 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2053 | 15.91 | 13.27 | -2.64 | ---- | -0.92 | -0.06 | 0.86 | ||
| 2054 | 15.88 | 13.27 | -2.61 | ---- | -0.98 | -0.06 | 0.92 | ||
| 2055 | 15.86 | 13.27 | -2.59 | ---- | -1.04 | -0.06 | 0.97 | ||
| 2056 | 15.84 | 13.27 | -2.56 | ---- | -1.10 | -0.07 | 1.03 | ||
| 2057 | 15.82 | 13.27 | -2.55 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2058 | 15.81 | 13.27 | -2.54 | ---- | -1.22 | -0.07 | 1.14 | ||
| 2059 | 15.80 | 13.27 | -2.53 | ---- | -1.28 | -0.08 | 1.20 | ||
| 2060 | 15.80 | 13.27 | -2.53 | ---- | -1.34 | -0.08 | 1.26 | ||
| 2061 | 15.80 | 13.28 | -2.53 | ---- | -1.40 | -0.09 | 1.31 | ||
| 2062 | 15.81 | 13.28 | -2.53 | ---- | -1.46 | -0.09 | 1.37 | ||
| 2063 | 15.81 | 13.28 | -2.53 | ---- | -1.52 | -0.09 | 1.43 | ||
| 2064 | 15.82 | 13.28 | -2.54 | ---- | -1.58 | -0.10 | 1.48 | ||
| 2065 | 15.82 | 13.28 | -2.54 | ---- | -1.64 | -0.10 | 1.53 | ||
| 2066 | 15.83 | 13.28 | -2.55 | ---- | -1.69 | -0.10 | 1.59 | ||
| 2067 | 15.84 | 13.28 | -2.56 | ---- | -1.75 | -0.11 | 1.64 | ||
| 2068 | 15.86 | 13.28 | -2.57 | ---- | -1.81 | -0.11 | 1.70 | ||
| 2069 | 15.87 | 13.29 | -2.58 | ---- | -1.86 | -0.12 | 1.75 | ||
| 2070 | 15.88 | 13.29 | -2.60 | ---- | -1.92 | -0.12 | 1.80 | ||
| 2071 | 15.90 | 13.29 | -2.61 | ---- | -1.97 | -0.12 | 1.85 | ||
| 2072 | 15.91 | 13.29 | -2.62 | ---- | -2.02 | -0.13 | 1.90 | ||
| 2073 | 15.91 | 13.29 | -2.62 | ---- | -2.07 | -0.13 | 1.94 | ||
| 2074 | 15.92 | 13.29 | -2.63 | ---- | -2.12 | -0.13 | 1.99 | ||
| 2075 | 15.92 | 13.29 | -2.63 | ---- | -2.16 | -0.13 | 2.03 | ||
| 2076 | 15.92 | 13.29 | -2.62 | ---- | -2.20 | -0.14 | 2.06 | ||
| 2077 | 15.90 | 13.29 | -2.61 | ---- | -2.24 | -0.14 | 2.10 | ||
| 2078 | 15.89 | 13.29 | -2.59 | ---- | -2.27 | -0.14 | 2.13 | ||
| 2079 | 15.86 | 13.29 | -2.57 | ---- | -2.29 | -0.14 | 2.15 | ||
| 2080 | 15.82 | 13.29 | -2.53 | ---- | -2.32 | -0.14 | 2.17 | ||
| 2081 | 15.78 | 13.29 | -2.49 | ---- | -2.34 | -0.15 | 2.19 | ||
| 2082 | 15.74 | 13.28 | -2.45 | ---- | -2.35 | -0.15 | 2.21 | ||
| 2083 | 15.70 | 13.28 | -2.41 | ---- | -2.37 | -0.15 | 2.22 | ||
| 2084 | 15.65 | 13.28 | -2.37 | ---- | -2.38 | -0.15 | 2.23 | ||
| 2085 | 15.60 | 13.28 | -2.33 | ---- | -2.39 | -0.15 | 2.24 | ||
| 2086 | 15.56 | 13.27 | -2.29 | ---- | -2.40 | -0.15 | 2.25 | ||
| 2087 | 15.52 | 13.27 | -2.25 | ---- | -2.40 | -0.15 | 2.25 | ||
| 2088 | 15.49 | 13.27 | -2.22 | ---- | -2.41 | -0.15 | 2.26 | ||
| 2089 | 15.46 | 13.27 | -2.19 | ---- | -2.42 | -0.15 | 2.26 | ||
| 2090 | 15.44 | 13.27 | -2.18 | ---- | -2.42 | -0.15 | 2.27 | ||
| 2091 | 15.44 | 13.27 | -2.17 | ---- | -2.43 | -0.15 | 2.28 | ||
| 2092 | 15.45 | 13.27 | -2.18 | ---- | -2.44 | -0.15 | 2.28 | ||
| 2093 | 15.46 | 13.27 | -2.19 | ---- | -2.44 | -0.15 | 2.29 | ||
| 2094 | 15.49 | 13.27 | -2.22 | ---- | -2.45 | -0.15 | 2.30 | ||
| 2095 | 15.51 | 13.27 | -2.24 | ---- | -2.46 | -0.15 | 2.31 | ||
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 | 15.99% | 13.78% | -2.20% | 2035 | -1.07% | -0.07% | 1.01% | ||
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.