Detailed Single Year Tables
Description of Proposed Provision:
B1.5: Progressive price indexing (60th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2028: Create a new bend point at the 60th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 60th percentile and below. Reduce the 32 and 15 percent factors above the 60th 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 | 16.11 | 13.19 | -2.91 | 85 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 16.28 | 13.21 | -3.07 | 66 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 16.43 | 13.22 | -3.21 | 47 | -0.01 | -0.00 | 0.01 | ||
| 2033 | 16.54 | 13.23 | -3.32 | 27 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.64 | 13.24 | -3.40 | 7 | -0.02 | -0.00 | 0.02 | ||
| 2035 | 16.71 | 13.24 | -3.46 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2036 | 16.76 | 13.25 | -3.51 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2037 | 16.80 | 13.25 | -3.55 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2038 | 16.84 | 13.26 | -3.58 | ---- | -0.08 | -0.00 | 0.07 | ||
| 2039 | 16.85 | 13.26 | -3.59 | ---- | -0.10 | -0.01 | 0.09 | ||
| 2040 | 16.85 | 13.26 | -3.59 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2041 | 16.87 | 13.27 | -3.60 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2042 | 16.86 | 13.27 | -3.59 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2043 | 16.83 | 13.27 | -3.57 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2044 | 16.80 | 13.27 | -3.54 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2045 | 16.77 | 13.26 | -3.51 | ---- | -0.28 | -0.01 | 0.26 | ||
| 2046 | 16.74 | 13.26 | -3.48 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2047 | 16.72 | 13.26 | -3.46 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2048 | 16.70 | 13.26 | -3.44 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2049 | 16.67 | 13.26 | -3.41 | ---- | -0.44 | -0.02 | 0.42 | ||
| 2050 | 16.65 | 13.26 | -3.39 | ---- | -0.49 | -0.03 | 0.46 | ||
| 2051 | 16.63 | 13.26 | -3.36 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2052 | 16.61 | 13.26 | -3.34 | ---- | -0.58 | -0.03 | 0.55 | ||
| 2053 | 16.59 | 13.26 | -3.32 | ---- | -0.63 | -0.03 | 0.60 | ||
| 2054 | 16.57 | 13.26 | -3.31 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2055 | 16.56 | 13.26 | -3.30 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2056 | 16.55 | 13.27 | -3.29 | ---- | -0.78 | -0.04 | 0.74 | ||
| 2057 | 16.55 | 13.27 | -3.28 | ---- | -0.84 | -0.05 | 0.79 | ||
| 2058 | 16.55 | 13.27 | -3.28 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2059 | 16.55 | 13.27 | -3.28 | ---- | -0.94 | -0.05 | 0.89 | ||
| 2060 | 16.55 | 13.27 | -3.28 | ---- | -0.99 | -0.06 | 0.94 | ||
| 2061 | 16.55 | 13.27 | -3.28 | ---- | -1.05 | -0.06 | 0.99 | ||
| 2062 | 16.55 | 13.27 | -3.28 | ---- | -1.10 | -0.06 | 1.04 | ||
| 2063 | 16.55 | 13.28 | -3.28 | ---- | -1.15 | -0.07 | 1.09 | ||
| 2064 | 16.55 | 13.28 | -3.27 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2065 | 16.55 | 13.28 | -3.27 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2066 | 16.55 | 13.28 | -3.27 | ---- | -1.30 | -0.07 | 1.23 | ||
| 2067 | 16.55 | 13.28 | -3.27 | ---- | -1.35 | -0.08 | 1.28 | ||
| 2068 | 16.55 | 13.28 | -3.27 | ---- | -1.40 | -0.08 | 1.32 | ||
| 2069 | 16.56 | 13.28 | -3.28 | ---- | -1.45 | -0.08 | 1.37 | ||
| 2070 | 16.57 | 13.28 | -3.28 | ---- | -1.50 | -0.09 | 1.42 | ||
| 2071 | 16.57 | 13.28 | -3.29 | ---- | -1.55 | -0.09 | 1.46 | ||
| 2072 | 16.58 | 13.29 | -3.29 | ---- | -1.59 | -0.09 | 1.50 | ||
| 2073 | 16.59 | 13.29 | -3.30 | ---- | -1.64 | -0.09 | 1.54 | ||
| 2074 | 16.59 | 13.29 | -3.30 | ---- | -1.68 | -0.10 | 1.58 | ||
| 2075 | 16.59 | 13.29 | -3.31 | ---- | -1.72 | -0.10 | 1.62 | ||
| 2076 | 16.59 | 13.29 | -3.30 | ---- | -1.76 | -0.10 | 1.66 | ||
| 2077 | 16.58 | 13.29 | -3.29 | ---- | -1.79 | -0.10 | 1.69 | ||
| 2078 | 16.56 | 13.29 | -3.27 | ---- | -1.82 | -0.11 | 1.71 | ||
| 2079 | 16.52 | 13.29 | -3.23 | ---- | -1.85 | -0.11 | 1.74 | ||
| 2080 | 16.48 | 13.29 | -3.20 | ---- | -1.87 | -0.11 | 1.76 | ||
| 2081 | 16.44 | 13.28 | -3.15 | ---- | -1.89 | -0.11 | 1.78 | ||
| 2082 | 16.39 | 13.28 | -3.10 | ---- | -1.91 | -0.11 | 1.80 | ||
| 2083 | 16.33 | 13.28 | -3.05 | ---- | -1.92 | -0.11 | 1.81 | ||
| 2084 | 16.26 | 13.28 | -2.99 | ---- | -1.93 | -0.11 | 1.82 | ||
| 2085 | 16.19 | 13.27 | -2.92 | ---- | -1.94 | -0.11 | 1.83 | ||
| 2086 | 16.12 | 13.27 | -2.86 | ---- | -1.95 | -0.11 | 1.84 | ||
| 2087 | 16.05 | 13.26 | -2.79 | ---- | -1.96 | -0.11 | 1.84 | ||
| 2088 | 15.98 | 13.26 | -2.72 | ---- | -1.96 | -0.11 | 1.85 | ||
| 2089 | 15.91 | 13.25 | -2.65 | ---- | -1.96 | -0.11 | 1.85 | ||
| 2090 | 15.85 | 13.25 | -2.60 | ---- | -1.97 | -0.11 | 1.85 | ||
| 2091 | 15.80 | 13.25 | -2.55 | ---- | -1.97 | -0.11 | 1.85 | ||
| 2092 | 15.76 | 13.24 | -2.52 | ---- | -1.97 | -0.11 | 1.86 | ||
| 2093 | 15.74 | 13.24 | -2.50 | ---- | -1.97 | -0.12 | 1.86 | ||
| 2094 | 15.72 | 13.24 | -2.48 | ---- | -1.98 | -0.12 | 1.86 | ||
| 2095 | 15.72 | 13.24 | -2.48 | ---- | -1.98 | -0.12 | 1.87 | ||
| 2096 | 15.72 | 13.24 | -2.47 | ---- | -1.99 | -0.12 | 1.87 | ||
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 | 16.46% | 13.73% | -2.73% | 2034 | -0.85% | -0.05% | 0.80% | ||
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.