Detailed Single Year Tables
Description of Proposed Provision:
B6.6: Starting in 2031, provide a uniform PIA increase in the 24th year of benefit eligibility. Phase in the PIA increase at 0.5 percent per year from the 15th through the 24th years of eligibility. The full PIA increase is equal to 5 percent of the average retired worker PIA in December of the 14th year of benefit eligibility. A similar additional PIA increase applies in the 43rd year of benefit eligibility (age 104), phased in from the 34th through the 43rd years of eligibility. For those past the 15th year of eligibility in 2030 (over age 76 for retirees), phase in the PIA enhancement over 10 years starting in 2031. Auxiliary beneficiaries receive benefit enhancement based on the PIA of the governing worker.
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 |
|||
2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
2026 | 15.20 | 13.07 | -2.13 | 152 | 0.00 | 0.00 | 0.00 | ||
2027 | 15.36 | 13.11 | -2.25 | 134 | 0.00 | 0.00 | 0.00 | ||
2028 | 15.42 | 13.13 | -2.28 | 117 | 0.00 | 0.00 | 0.00 | ||
2029 | 15.47 | 13.16 | -2.31 | 101 | 0.00 | 0.00 | 0.00 | ||
2030 | 15.53 | 13.18 | -2.35 | 84 | 0.00 | 0.00 | 0.00 | ||
2031 | 15.61 | 13.20 | -2.40 | 68 | 0.03 | 0.00 | -0.03 | ||
2032 | 15.67 | 13.22 | -2.44 | 52 | 0.06 | 0.00 | -0.06 | ||
2033 | 15.75 | 13.27 | -2.48 | 37 | 0.09 | 0.01 | -0.09 | ||
2034 | 15.89 | 13.28 | -2.61 | 21 | 0.12 | 0.01 | -0.11 | ||
2035 | 16.03 | 13.29 | -2.74 | 5 | 0.15 | 0.01 | -0.14 | ||
2036 | 16.16 | 13.31 | -2.85 | — | 0.17 | 0.01 | -0.16 | ||
2037 | 16.28 | 13.32 | -2.97 | — | 0.19 | 0.01 | -0.18 | ||
2038 | 16.39 | 13.32 | -3.07 | — | 0.21 | 0.01 | -0.20 | ||
2039 | 16.48 | 13.33 | -3.15 | — | 0.23 | 0.01 | -0.22 | ||
2040 | 16.57 | 13.34 | -3.23 | — | 0.25 | 0.02 | -0.24 | ||
2041 | 16.64 | 13.34 | -3.29 | — | 0.25 | 0.02 | -0.24 | ||
2042 | 16.69 | 13.35 | -3.34 | — | 0.26 | 0.02 | -0.24 | ||
2043 | 16.74 | 13.35 | -3.39 | — | 0.26 | 0.02 | -0.25 | ||
2044 | 16.78 | 13.36 | -3.42 | — | 0.26 | 0.02 | -0.25 | ||
2045 | 16.82 | 13.36 | -3.46 | — | 0.27 | 0.02 | -0.25 | ||
2046 | 16.85 | 13.36 | -3.49 | — | 0.27 | 0.02 | -0.25 | ||
2047 | 16.89 | 13.37 | -3.53 | — | 0.27 | 0.02 | -0.25 | ||
2048 | 16.93 | 13.37 | -3.56 | — | 0.27 | 0.02 | -0.25 | ||
2049 | 16.98 | 13.38 | -3.60 | — | 0.27 | 0.02 | -0.25 | ||
2050 | 17.03 | 13.38 | -3.65 | — | 0.27 | 0.02 | -0.25 | ||
2051 | 17.08 | 13.38 | -3.70 | — | 0.27 | 0.02 | -0.25 | ||
2052 | 17.14 | 13.39 | -3.75 | — | 0.27 | 0.02 | -0.25 | ||
2053 | 17.20 | 13.39 | -3.81 | — | 0.27 | 0.02 | -0.25 | ||
2054 | 17.27 | 13.40 | -3.87 | — | 0.27 | 0.02 | -0.25 | ||
2055 | 17.34 | 13.41 | -3.94 | — | 0.27 | 0.02 | -0.25 | ||
2056 | 17.43 | 13.41 | -4.01 | — | 0.27 | 0.02 | -0.25 | ||
2057 | 17.51 | 13.42 | -4.09 | — | 0.27 | 0.02 | -0.25 | ||
2058 | 17.60 | 13.43 | -4.17 | — | 0.27 | 0.02 | -0.25 | ||
2059 | 17.69 | 13.43 | -4.25 | — | 0.27 | 0.02 | -0.25 | ||
2060 | 17.77 | 13.44 | -4.33 | — | 0.27 | 0.02 | -0.25 | ||
2061 | 17.86 | 13.45 | -4.41 | — | 0.27 | 0.02 | -0.26 | ||
2062 | 17.93 | 13.45 | -4.48 | — | 0.28 | 0.02 | -0.26 | ||
2063 | 18.00 | 13.46 | -4.54 | — | 0.28 | 0.02 | -0.26 | ||
2064 | 18.07 | 13.47 | -4.60 | — | 0.28 | 0.02 | -0.26 | ||
2065 | 18.14 | 13.47 | -4.67 | — | 0.28 | 0.02 | -0.27 | ||
2066 | 18.21 | 13.48 | -4.73 | — | 0.29 | 0.02 | -0.27 | ||
2067 | 18.27 | 13.48 | -4.79 | — | 0.29 | 0.02 | -0.27 | ||
2068 | 18.34 | 13.49 | -4.86 | — | 0.30 | 0.02 | -0.28 | ||
2069 | 18.41 | 13.49 | -4.92 | — | 0.30 | 0.02 | -0.28 | ||
2070 | 18.49 | 13.50 | -4.99 | — | 0.30 | 0.02 | -0.28 | ||
2071 | 18.56 | 13.50 | -5.05 | — | 0.31 | 0.02 | -0.29 | ||
2072 | 18.62 | 13.51 | -5.12 | — | 0.31 | 0.02 | -0.29 | ||
2073 | 18.69 | 13.51 | -5.17 | — | 0.31 | 0.02 | -0.29 | ||
2074 | 18.75 | 13.52 | -5.23 | — | 0.32 | 0.02 | -0.30 | ||
2075 | 18.80 | 13.52 | -5.28 | — | 0.32 | 0.02 | -0.30 | ||
2076 | 18.85 | 13.53 | -5.32 | — | 0.32 | 0.02 | -0.30 | ||
2077 | 18.88 | 13.53 | -5.35 | — | 0.32 | 0.02 | -0.30 | ||
2078 | 18.91 | 13.53 | -5.38 | — | 0.33 | 0.02 | -0.31 | ||
2079 | 18.92 | 13.53 | -5.39 | — | 0.33 | 0.02 | -0.31 | ||
2080 | 18.92 | 13.54 | -5.39 | — | 0.33 | 0.02 | -0.31 | ||
2081 | 18.92 | 13.54 | -5.38 | — | 0.33 | 0.02 | -0.31 | ||
2082 | 18.90 | 13.54 | -5.37 | — | 0.33 | 0.02 | -0.31 | ||
2083 | 18.88 | 13.53 | -5.35 | — | 0.33 | 0.02 | -0.31 | ||
2084 | 18.85 | 13.53 | -5.31 | — | 0.33 | 0.02 | -0.31 | ||
2085 | 18.81 | 13.53 | -5.28 | — | 0.34 | 0.02 | -0.32 | ||
2086 | 18.76 | 13.53 | -5.23 | — | 0.34 | 0.02 | -0.32 | ||
2087 | 18.70 | 13.52 | -5.18 | — | 0.34 | 0.02 | -0.32 | ||
2088 | 18.64 | 13.52 | -5.12 | — | 0.34 | 0.02 | -0.32 | ||
2089 | 18.59 | 13.52 | -5.07 | — | 0.34 | 0.02 | -0.32 | ||
2090 | 18.53 | 13.51 | -5.02 | — | 0.34 | 0.02 | -0.32 | ||
2091 | 18.48 | 13.51 | -4.97 | — | 0.34 | 0.02 | -0.32 | ||
2092 | 18.45 | 13.51 | -4.94 | — | 0.34 | 0.02 | -0.32 | ||
2093 | 18.42 | 13.51 | -4.92 | — | 0.34 | 0.02 | -0.32 | ||
2094 | 18.41 | 13.51 | -4.90 | — | 0.34 | 0.02 | -0.32 | ||
2095 | 18.41 | 13.50 | -4.90 | — | 0.34 | 0.02 | -0.32 | ||
2096 | 18.42 | 13.51 | -4.91 | — | 0.34 | 0.02 | -0.32 | ||
2097 | 18.44 | 13.51 | -4.93 | — | 0.34 | 0.02 | -0.32 | ||
2098 | 18.46 | 13.51 | -4.95 | — | 0.34 | 0.02 | -0.32 | ||
2099 | 18.50 | 13.51 | -4.99 | — | 0.34 | 0.02 | -0.32 |
Summarized Estimates
Proposal | Change from Current Law | ||||||||
---|---|---|---|---|---|---|---|---|---|
Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
2024-2098 | 17.54% | 13.81% | -3.73% | 2035 | 0.24% | 0.02% | -0.23% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
Based on Intermediate Assumptions of the 2024 Trustees Report.