Detailed Single Year Tables
Description of Proposed Provision:
B1.2: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2028: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th 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.
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 |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.91 | -1.52 | 214 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.94 | -1.69 | 196 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.86 | 12.96 | -1.90 | 178 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.10 | 13.08 | -2.03 | 159 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.10 | -2.26 | 141 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.62 | 13.14 | -2.49 | 122 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.87 | 13.17 | -2.70 | 104 | -0.00 | -0.00 | 0.00 | ||
| 2030 | 16.10 | 13.19 | -2.91 | 85 | -0.01 | -0.00 | 0.00 | ||
| 2031 | 16.27 | 13.21 | -3.07 | 66 | -0.01 | -0.00 | 0.01 | ||
| 2032 | 16.42 | 13.22 | -3.20 | 47 | -0.02 | -0.00 | 0.02 | ||
| 2033 | 16.53 | 13.23 | -3.30 | 27 | -0.03 | -0.00 | 0.03 | ||
| 2034 | 16.61 | 13.24 | -3.38 | 8 | -0.04 | -0.00 | 0.04 | ||
| 2035 | 16.67 | 13.24 | -3.43 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2036 | 16.72 | 13.25 | -3.47 | ---- | -0.09 | -0.00 | 0.08 | ||
| 2037 | 16.75 | 13.25 | -3.50 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2038 | 16.77 | 13.26 | -3.51 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2039 | 16.76 | 13.26 | -3.51 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2040 | 16.75 | 13.26 | -3.49 | ---- | -0.23 | -0.01 | 0.22 | ||
| 2041 | 16.74 | 13.26 | -3.48 | ---- | -0.28 | -0.01 | 0.26 | ||
| 2042 | 16.71 | 13.26 | -3.45 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2043 | 16.66 | 13.26 | -3.40 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2044 | 16.60 | 13.26 | -3.35 | ---- | -0.44 | -0.02 | 0.42 | ||
| 2045 | 16.54 | 13.25 | -3.29 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2046 | 16.49 | 13.25 | -3.23 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2047 | 16.43 | 13.25 | -3.18 | ---- | -0.64 | -0.03 | 0.61 | ||
| 2048 | 16.38 | 13.25 | -3.13 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2049 | 16.32 | 13.25 | -3.08 | ---- | -0.79 | -0.04 | 0.75 | ||
| 2050 | 16.26 | 13.24 | -3.02 | ---- | -0.87 | -0.05 | 0.83 | ||
| 2051 | 16.21 | 13.24 | -2.96 | ---- | -0.95 | -0.05 | 0.90 | ||
| 2052 | 16.15 | 13.24 | -2.91 | ---- | -1.04 | -0.06 | 0.98 | ||
| 2053 | 16.10 | 13.24 | -2.86 | ---- | -1.12 | -0.06 | 1.06 | ||
| 2054 | 16.04 | 13.24 | -2.81 | ---- | -1.21 | -0.07 | 1.15 | ||
| 2055 | 15.99 | 13.23 | -2.76 | ---- | -1.30 | -0.07 | 1.23 | ||
| 2056 | 15.95 | 13.23 | -2.71 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2057 | 15.90 | 13.23 | -2.67 | ---- | -1.48 | -0.08 | 1.40 | ||
| 2058 | 15.86 | 13.23 | -2.63 | ---- | -1.57 | -0.09 | 1.49 | ||
| 2059 | 15.83 | 13.23 | -2.59 | ---- | -1.66 | -0.09 | 1.57 | ||
| 2060 | 15.79 | 13.23 | -2.56 | ---- | -1.76 | -0.10 | 1.66 | ||
| 2061 | 15.75 | 13.23 | -2.52 | ---- | -1.85 | -0.10 | 1.75 | ||
| 2062 | 15.71 | 13.23 | -2.49 | ---- | -1.94 | -0.11 | 1.83 | ||
| 2063 | 15.67 | 13.23 | -2.45 | ---- | -2.03 | -0.11 | 1.91 | ||
| 2064 | 15.63 | 13.23 | -2.41 | ---- | -2.12 | -0.12 | 2.00 | ||
| 2065 | 15.60 | 13.23 | -2.37 | ---- | -2.21 | -0.12 | 2.08 | ||
| 2066 | 15.56 | 13.22 | -2.34 | ---- | -2.29 | -0.13 | 2.17 | ||
| 2067 | 15.52 | 13.22 | -2.30 | ---- | -2.38 | -0.13 | 2.25 | ||
| 2068 | 15.49 | 13.22 | -2.26 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2069 | 15.45 | 13.22 | -2.23 | ---- | -2.56 | -0.14 | 2.41 | ||
| 2070 | 15.42 | 13.22 | -2.20 | ---- | -2.64 | -0.15 | 2.50 | ||
| 2071 | 15.39 | 13.22 | -2.17 | ---- | -2.73 | -0.15 | 2.58 | ||
| 2072 | 15.36 | 13.22 | -2.14 | ---- | -2.82 | -0.16 | 2.66 | ||
| 2073 | 15.32 | 13.22 | -2.10 | ---- | -2.90 | -0.16 | 2.74 | ||
| 2074 | 15.28 | 13.22 | -2.07 | ---- | -2.99 | -0.17 | 2.82 | ||
| 2075 | 15.24 | 13.21 | -2.03 | ---- | -3.07 | -0.17 | 2.90 | ||
| 2076 | 15.19 | 13.21 | -1.98 | ---- | -3.16 | -0.18 | 2.98 | ||
| 2077 | 15.13 | 13.21 | -1.92 | ---- | -3.24 | -0.18 | 3.05 | ||
| 2078 | 15.06 | 13.21 | -1.86 | ---- | -3.31 | -0.19 | 3.12 | ||
| 2079 | 14.98 | 13.20 | -1.78 | ---- | -3.38 | -0.19 | 3.19 | ||
| 2080 | 14.90 | 13.20 | -1.70 | ---- | -3.45 | -0.20 | 3.26 | ||
| 2081 | 14.81 | 13.19 | -1.61 | ---- | -3.52 | -0.20 | 3.32 | ||
| 2082 | 14.71 | 13.19 | -1.52 | ---- | -3.59 | -0.20 | 3.38 | ||
| 2083 | 14.60 | 13.18 | -1.42 | ---- | -3.65 | -0.21 | 3.44 | ||
| 2084 | 14.49 | 13.18 | -1.32 | ---- | -3.71 | -0.21 | 3.49 | ||
| 2085 | 14.38 | 13.17 | -1.21 | ---- | -3.76 | -0.21 | 3.55 | ||
| 2086 | 14.26 | 13.16 | -1.10 | ---- | -3.82 | -0.22 | 3.60 | ||
| 2087 | 14.14 | 13.16 | -0.99 | ---- | -3.87 | -0.22 | 3.65 | ||
| 2088 | 14.02 | 13.15 | -0.87 | ---- | -3.92 | -0.22 | 3.69 | ||
| 2089 | 13.90 | 13.14 | -0.76 | ---- | -3.97 | -0.23 | 3.74 | ||
| 2090 | 13.80 | 13.13 | -0.66 | ---- | -4.02 | -0.23 | 3.79 | ||
| 2091 | 13.70 | 13.13 | -0.57 | ---- | -4.07 | -0.23 | 3.84 | ||
| 2092 | 13.61 | 13.12 | -0.48 | ---- | -4.13 | -0.24 | 3.89 | ||
| 2093 | 13.53 | 13.12 | -0.41 | ---- | -4.19 | -0.24 | 3.95 | ||
| 2094 | 13.46 | 13.12 | -0.34 | ---- | -4.25 | -0.24 | 4.00 | ||
| 2095 | 13.39 | 13.11 | -0.28 | ---- | -4.31 | -0.25 | 4.06 | ||
| 2096 | 13.33 | 13.11 | -0.22 | ---- | -4.37 | -0.25 | 4.12 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 15.72% | 13.69% | -2.03% | 2034 | -1.60% | -0.09% | 1.51% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.