## Summary Measures and Graphs

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2028 (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 $996 in 2021 to $1,266 in 2021. Phase this provision in over 10 years (2028-2037). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2028, 80% of CL formula + 20% of proposal formula for 2029, and so on.

__Description of Proposed Provision__:

B3.13: For retired worker beneficiaries newly eligible in 2028 (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 $996 in 2021 to $1,266 in 2021. Phase this provision in over 10 years (2028-2037). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2028, 80% of CL formula + 20% of proposal formula for 2029, and so on.

*Estimates based on the intermediate assumptions of the 2021 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 |
||

-3.54 | -4.34 | 0.09 | 0.19 | 3% | 4% |