Detailed Single Year Tables
Description of Proposed Provision:
B1.3: Progressive price indexing (40th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2031: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 40th percentile and below. Reduce the 32 and 15 percent factors above the 40th 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 |
|||
| 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 | 15.58 | 13.20 | -2.37 | 68 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 15.60 | 13.22 | -2.38 | 53 | -0.00 | -0.00 | 0.00 | ||
| 2033 | 15.65 | 13.26 | -2.39 | 37 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 15.76 | 13.28 | -2.49 | 22 | -0.01 | -0.00 | 0.01 | ||
| 2035 | 15.87 | 13.29 | -2.58 | 7 | -0.02 | -0.00 | 0.02 | ||
| 2036 | 15.96 | 13.29 | -2.66 | — | -0.03 | -0.00 | 0.03 | ||
| 2037 | 16.04 | 13.30 | -2.74 | — | -0.05 | -0.00 | 0.05 | ||
| 2038 | 16.11 | 13.31 | -2.80 | — | -0.07 | -0.00 | 0.07 | ||
| 2039 | 16.16 | 13.31 | -2.84 | — | -0.10 | -0.00 | 0.09 | ||
| 2040 | 16.19 | 13.32 | -2.87 | — | -0.13 | -0.01 | 0.12 | ||
| 2041 | 16.22 | 13.32 | -2.90 | — | -0.17 | -0.01 | 0.16 | ||
| 2042 | 16.23 | 13.32 | -2.91 | — | -0.21 | -0.01 | 0.20 | ||
| 2043 | 16.23 | 13.32 | -2.90 | — | -0.25 | -0.01 | 0.24 | ||
| 2044 | 16.22 | 13.32 | -2.89 | — | -0.30 | -0.02 | 0.29 | ||
| 2045 | 16.19 | 13.32 | -2.87 | — | -0.36 | -0.02 | 0.34 | ||
| 2046 | 16.17 | 13.32 | -2.85 | — | -0.41 | -0.02 | 0.39 | ||
| 2047 | 16.15 | 13.32 | -2.82 | — | -0.48 | -0.03 | 0.45 | ||
| 2048 | 16.12 | 13.32 | -2.80 | — | -0.54 | -0.03 | 0.51 | ||
| 2049 | 16.10 | 13.32 | -2.78 | — | -0.61 | -0.04 | 0.57 | ||
| 2050 | 16.08 | 13.32 | -2.76 | — | -0.68 | -0.04 | 0.64 | ||
| 2051 | 16.06 | 13.32 | -2.74 | — | -0.75 | -0.04 | 0.71 | ||
| 2052 | 16.04 | 13.32 | -2.72 | — | -0.83 | -0.05 | 0.78 | ||
| 2053 | 16.03 | 13.32 | -2.70 | — | -0.90 | -0.05 | 0.85 | ||
| 2054 | 16.02 | 13.33 | -2.69 | — | -0.98 | -0.06 | 0.93 | ||
| 2055 | 16.01 | 13.33 | -2.69 | — | -1.07 | -0.06 | 1.00 | ||
| 2056 | 16.01 | 13.33 | -2.68 | — | -1.15 | -0.07 | 1.08 | ||
| 2057 | 16.01 | 13.33 | -2.68 | — | -1.23 | -0.07 | 1.16 | ||
| 2058 | 16.01 | 13.33 | -2.68 | — | -1.32 | -0.08 | 1.24 | ||
| 2059 | 16.01 | 13.33 | -2.68 | — | -1.40 | -0.09 | 1.32 | ||
| 2060 | 16.01 | 13.33 | -2.68 | — | -1.49 | -0.09 | 1.40 | ||
| 2061 | 16.01 | 13.34 | -2.68 | — | -1.57 | -0.10 | 1.48 | ||
| 2062 | 16.00 | 13.34 | -2.66 | — | -1.66 | -0.10 | 1.55 | ||
| 2063 | 15.99 | 13.34 | -2.65 | — | -1.74 | -0.11 | 1.63 | ||
| 2064 | 15.97 | 13.34 | -2.63 | — | -1.82 | -0.11 | 1.71 | ||
| 2065 | 15.95 | 13.34 | -2.62 | — | -1.90 | -0.12 | 1.78 | ||
| 2066 | 15.94 | 13.34 | -2.60 | — | -1.98 | -0.12 | 1.86 | ||
| 2067 | 15.92 | 13.34 | -2.59 | — | -2.06 | -0.13 | 1.93 | ||
| 2068 | 15.91 | 13.34 | -2.57 | — | -2.14 | -0.13 | 2.00 | ||
| 2069 | 15.90 | 13.34 | -2.56 | — | -2.22 | -0.14 | 2.08 | ||
| 2070 | 15.89 | 13.34 | -2.55 | — | -2.30 | -0.14 | 2.15 | ||
| 2071 | 15.88 | 13.34 | -2.54 | — | -2.37 | -0.15 | 2.23 | ||
| 2072 | 15.86 | 13.34 | -2.53 | — | -2.45 | -0.15 | 2.30 | ||
| 2073 | 15.85 | 13.34 | -2.51 | — | -2.53 | -0.16 | 2.37 | ||
| 2074 | 15.83 | 13.34 | -2.49 | — | -2.60 | -0.16 | 2.44 | ||
| 2075 | 15.80 | 13.34 | -2.47 | — | -2.68 | -0.17 | 2.51 | ||
| 2076 | 15.77 | 13.34 | -2.44 | — | -2.75 | -0.17 | 2.58 | ||
| 2077 | 15.73 | 13.33 | -2.40 | — | -2.83 | -0.18 | 2.65 | ||
| 2078 | 15.69 | 13.33 | -2.36 | — | -2.90 | -0.18 | 2.72 | ||
| 2079 | 15.63 | 13.33 | -2.30 | — | -2.96 | -0.19 | 2.78 | ||
| 2080 | 15.57 | 13.33 | -2.24 | — | -3.03 | -0.19 | 2.84 | ||
| 2081 | 15.50 | 13.32 | -2.18 | — | -3.09 | -0.19 | 2.90 | ||
| 2082 | 15.42 | 13.32 | -2.10 | — | -3.15 | -0.20 | 2.95 | ||
| 2083 | 15.34 | 13.31 | -2.03 | — | -3.21 | -0.20 | 3.01 | ||
| 2084 | 15.25 | 13.31 | -1.94 | — | -3.26 | -0.20 | 3.06 | ||
| 2085 | 15.15 | 13.30 | -1.85 | — | -3.32 | -0.21 | 3.11 | ||
| 2086 | 15.05 | 13.29 | -1.76 | — | -3.37 | -0.21 | 3.16 | ||
| 2087 | 14.95 | 13.29 | -1.66 | — | -3.42 | -0.21 | 3.20 | ||
| 2088 | 14.84 | 13.28 | -1.56 | — | -3.46 | -0.22 | 3.25 | ||
| 2089 | 14.74 | 13.27 | -1.46 | — | -3.51 | -0.22 | 3.29 | ||
| 2090 | 14.64 | 13.27 | -1.37 | — | -3.55 | -0.22 | 3.33 | ||
| 2091 | 14.54 | 13.26 | -1.28 | — | -3.60 | -0.23 | 3.37 | ||
| 2092 | 14.46 | 13.26 | -1.20 | — | -3.65 | -0.23 | 3.42 | ||
| 2093 | 14.38 | 13.25 | -1.13 | — | -3.70 | -0.23 | 3.47 | ||
| 2094 | 14.32 | 13.25 | -1.07 | — | -3.75 | -0.24 | 3.51 | ||
| 2095 | 14.26 | 13.24 | -1.02 | — | -3.80 | -0.24 | 3.56 | ||
| 2096 | 14.22 | 13.24 | -0.98 | — | -3.85 | -0.24 | 3.61 | ||
| 2097 | 14.19 | 13.24 | -0.95 | — | -3.91 | -0.25 | 3.66 | ||
| 2098 | 14.16 | 13.24 | -0.92 | — | -3.96 | -0.25 | 3.71 | ||
| 2099 | 14.14 | 13.24 | -0.91 | — | -4.01 | -0.25 | 3.76 | ||
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 | 15.80% | 13.71% | -2.09% | 2035 | -1.49% | -0.09% | 1.40% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.