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.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
202112.312.314.114.1
202212.912.914.314.3
202312.912.914.414.4
202412.912.914.614.6
202513.013.014.914.9
202613.113.115.115.1
202713.113.115.415.4
202813.113.115.615.6
202913.213.215.915.9
203013.213.216.116.1
203113.213.216.316.3
203213.213.216.416.4
203313.213.216.616.6
203413.213.216.716.7
203513.213.216.716.7
203613.313.316.816.8
203713.313.316.916.9
203813.313.316.916.9
203913.313.317.017.0
204013.313.317.017.0
204113.313.317.017.0
204213.313.317.017.0
204313.313.317.017.0
204413.313.317.017.0
204513.313.317.017.0
204613.313.317.117.0
204713.313.317.117.0
204813.313.317.117.0
204913.313.317.117.0
205013.313.317.117.1
205113.313.317.217.1
205213.313.317.217.1
205313.313.317.217.1
205413.313.317.317.1
205513.313.317.317.2
205613.313.317.317.2
205713.313.317.417.3
205813.313.317.417.3
205913.313.317.517.3
206013.313.317.517.4
206113.313.317.617.4
206213.313.317.717.5
206313.313.317.717.5
206413.313.317.817.6
206513.313.317.817.6
206613.413.317.917.7
206713.413.317.917.7
206813.413.418.017.8
206913.413.418.017.8
207013.413.418.117.9
207113.413.418.117.9
207213.413.418.218.0
207313.413.418.218.0
207413.413.418.318.1
207513.413.418.318.1
207613.413.418.318.2
207713.413.418.418.2
207813.413.418.418.2
207913.413.418.418.2
208013.413.418.418.2
208113.413.418.318.1
208213.413.418.318.1
208313.413.418.318.1
208413.413.418.218.0
208513.413.418.117.9
208613.413.418.117.9
208713.413.418.017.8
208813.413.417.917.7
208913.413.417.917.7
209013.413.417.817.6
209113.413.317.817.6
209213.413.317.717.5
209313.413.317.717.5
209413.413.317.717.5
209513.413.317.717.5
209613.413.317.717.5
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