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 2031: 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 |
|||
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 | 15.66 | 13.26 | -2.39 | 37 | -0.00 | -0.00 | 0.00 | ||
2034 | 15.77 | 13.28 | -2.49 | 22 | -0.01 | -0.00 | 0.01 | ||
2035 | 15.87 | 13.29 | -2.59 | 7 | -0.01 | -0.00 | 0.01 | ||
2036 | 15.97 | 13.29 | -2.68 | — | -0.02 | -0.00 | 0.02 | ||
2037 | 16.06 | 13.30 | -2.76 | — | -0.03 | -0.00 | 0.03 | ||
2038 | 16.13 | 13.31 | -2.82 | — | -0.04 | -0.00 | 0.04 | ||
2039 | 16.19 | 13.32 | -2.88 | — | -0.06 | -0.00 | 0.06 | ||
2040 | 16.24 | 13.32 | -2.92 | — | -0.08 | -0.00 | 0.08 | ||
2041 | 16.28 | 13.32 | -2.95 | — | -0.11 | -0.01 | 0.10 | ||
2042 | 16.30 | 13.33 | -2.97 | — | -0.13 | -0.01 | 0.13 | ||
2043 | 16.32 | 13.33 | -2.99 | — | -0.16 | -0.01 | 0.16 | ||
2044 | 16.32 | 13.33 | -2.99 | — | -0.20 | -0.01 | 0.19 | ||
2045 | 16.32 | 13.33 | -2.99 | — | -0.23 | -0.01 | 0.22 | ||
2046 | 16.31 | 13.33 | -2.98 | — | -0.27 | -0.02 | 0.26 | ||
2047 | 16.31 | 13.33 | -2.98 | — | -0.32 | -0.02 | 0.30 | ||
2048 | 16.30 | 13.33 | -2.97 | — | -0.36 | -0.02 | 0.34 | ||
2049 | 16.30 | 13.34 | -2.97 | — | -0.41 | -0.02 | 0.38 | ||
2050 | 16.31 | 13.34 | -2.97 | — | -0.45 | -0.03 | 0.43 | ||
2051 | 16.31 | 13.34 | -2.97 | — | -0.50 | -0.03 | 0.47 | ||
2052 | 16.32 | 13.34 | -2.98 | — | -0.55 | -0.03 | 0.52 | ||
2053 | 16.33 | 13.34 | -2.98 | — | -0.61 | -0.04 | 0.57 | ||
2054 | 16.34 | 13.34 | -3.00 | — | -0.66 | -0.04 | 0.62 | ||
2055 | 16.36 | 13.35 | -3.01 | — | -0.72 | -0.04 | 0.68 | ||
2056 | 16.38 | 13.35 | -3.03 | — | -0.78 | -0.05 | 0.73 | ||
2057 | 16.41 | 13.35 | -3.06 | — | -0.83 | -0.05 | 0.78 | ||
2058 | 16.44 | 13.36 | -3.08 | — | -0.89 | -0.05 | 0.84 | ||
2059 | 16.47 | 13.36 | -3.11 | — | -0.95 | -0.06 | 0.89 | ||
2060 | 16.50 | 13.36 | -3.13 | — | -1.01 | -0.06 | 0.95 | ||
2061 | 16.52 | 13.37 | -3.15 | — | -1.07 | -0.07 | 1.00 | ||
2062 | 16.53 | 13.37 | -3.17 | — | -1.12 | -0.07 | 1.05 | ||
2063 | 16.55 | 13.37 | -3.18 | — | -1.18 | -0.07 | 1.10 | ||
2064 | 16.56 | 13.37 | -3.18 | — | -1.23 | -0.08 | 1.16 | ||
2065 | 16.57 | 13.37 | -3.19 | — | -1.29 | -0.08 | 1.21 | ||
2066 | 16.57 | 13.37 | -3.20 | — | -1.34 | -0.08 | 1.26 | ||
2067 | 16.58 | 13.38 | -3.21 | — | -1.40 | -0.09 | 1.31 | ||
2068 | 16.60 | 13.38 | -3.22 | — | -1.45 | -0.09 | 1.36 | ||
2069 | 16.61 | 13.38 | -3.23 | — | -1.50 | -0.09 | 1.41 | ||
2070 | 16.63 | 13.38 | -3.25 | — | -1.56 | -0.10 | 1.46 | ||
2071 | 16.64 | 13.38 | -3.26 | — | -1.61 | -0.10 | 1.51 | ||
2072 | 16.66 | 13.39 | -3.27 | — | -1.66 | -0.10 | 1.55 | ||
2073 | 16.67 | 13.39 | -3.28 | — | -1.70 | -0.11 | 1.60 | ||
2074 | 16.68 | 13.39 | -3.29 | — | -1.75 | -0.11 | 1.64 | ||
2075 | 16.69 | 13.39 | -3.30 | — | -1.79 | -0.11 | 1.68 | ||
2076 | 16.69 | 13.39 | -3.30 | — | -1.83 | -0.12 | 1.72 | ||
2077 | 16.69 | 13.39 | -3.30 | — | -1.87 | -0.12 | 1.75 | ||
2078 | 16.68 | 13.39 | -3.29 | — | -1.90 | -0.12 | 1.78 | ||
2079 | 16.66 | 13.39 | -3.27 | — | -1.93 | -0.12 | 1.81 | ||
2080 | 16.64 | 13.39 | -3.24 | — | -1.96 | -0.12 | 1.84 | ||
2081 | 16.60 | 13.39 | -3.21 | — | -1.98 | -0.13 | 1.86 | ||
2082 | 16.57 | 13.39 | -3.18 | — | -2.01 | -0.13 | 1.88 | ||
2083 | 16.52 | 13.38 | -3.14 | — | -2.03 | -0.13 | 1.90 | ||
2084 | 16.47 | 13.38 | -3.09 | — | -2.04 | -0.13 | 1.91 | ||
2085 | 16.42 | 13.38 | -3.04 | — | -2.05 | -0.13 | 1.92 | ||
2086 | 16.35 | 13.38 | -2.98 | — | -2.07 | -0.13 | 1.93 | ||
2087 | 16.29 | 13.37 | -2.92 | — | -2.07 | -0.13 | 1.94 | ||
2088 | 16.22 | 13.37 | -2.86 | — | -2.08 | -0.13 | 1.95 | ||
2089 | 16.16 | 13.36 | -2.80 | — | -2.08 | -0.13 | 1.95 | ||
2090 | 16.10 | 13.36 | -2.74 | — | -2.09 | -0.13 | 1.95 | ||
2091 | 16.05 | 13.36 | -2.70 | — | -2.09 | -0.13 | 1.96 | ||
2092 | 16.01 | 13.35 | -2.66 | — | -2.09 | -0.13 | 1.96 | ||
2093 | 15.98 | 13.35 | -2.63 | — | -2.10 | -0.13 | 1.96 | ||
2094 | 15.97 | 13.35 | -2.62 | — | -2.10 | -0.13 | 1.97 | ||
2095 | 15.96 | 13.35 | -2.61 | — | -2.11 | -0.13 | 1.97 | ||
2096 | 15.97 | 13.35 | -2.62 | — | -2.11 | -0.13 | 1.98 | ||
2097 | 15.98 | 13.35 | -2.63 | — | -2.12 | -0.13 | 1.98 | ||
2098 | 16.00 | 13.35 | -2.65 | — | -2.12 | -0.14 | 1.99 | ||
2099 | 16.03 | 13.35 | -2.67 | — | -2.13 | -0.14 | 1.99 |
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 | 16.36% | 13.74% | -2.61% | 2035 | -0.94% | -0.06% | 0.88% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
Based on Intermediate Assumptions of the 2024 Trustees Report.