Proposed Provision: Beginning with those newly eligible for OASDI benefits in 2025, gradually reduce the 15 percent PIA formula factor in each year so that it reaches 10 percent for those newly eligible in 2054 and later.
OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)
| |
Income Rates |
Cost Rates |
| Year |
Present Law |
Provision |
Present Law |
Provision |
| 2012 | 12.9 | 12.9 | 13.8 | 13.8 |
| 2013 | 12.8 | 12.8 | 14.0 | 14.0 |
| 2014 | 12.9 | 12.9 | 14.0 | 14.0 |
| 2015 | 13.0 | 13.0 | 14.0 | 14.0 |
| 2016 | 13.0 | 13.0 | 13.9 | 13.9 |
| 2017 | 13.0 | 13.0 | 13.9 | 13.9 |
| 2018 | 13.0 | 13.0 | 14.0 | 14.0 |
| 2019 | 13.1 | 13.1 | 14.1 | 14.1 |
| 2020 | 13.1 | 13.1 | 14.4 | 14.4 |
| 2021 | 13.1 | 13.1 | 14.7 | 14.7 |
| 2022 | 13.1 | 13.1 | 15.0 | 15.0 |
| 2023 | 13.1 | 13.1 | 15.3 | 15.3 |
| 2024 | 13.2 | 13.2 | 15.6 | 15.6 |
| 2025 | 13.2 | 13.2 | 15.9 | 15.9 |
| 2026 | 13.2 | 13.2 | 16.2 | 16.2 |
| 2027 | 13.2 | 13.2 | 16.4 | 16.4 |
| 2028 | 13.2 | 13.2 | 16.6 | 16.6 |
| 2029 | 13.2 | 13.2 | 16.8 | 16.8 |
| 2030 | 13.2 | 13.2 | 17.0 | 17.0 |
| 2031 | 13.3 | 13.3 | 17.1 | 17.1 |
| 2032 | 13.3 | 13.3 | 17.2 | 17.2 |
| 2033 | 13.3 | 13.3 | 17.3 | 17.3 |
| 2034 | 13.3 | 13.3 | 17.4 | 17.4 |
| 2035 | 13.3 | 13.3 | 17.4 | 17.4 |
| 2036 | 13.3 | 13.3 | 17.4 | 17.4 |
| 2037 | 13.3 | 13.3 | 17.4 | 17.4 |
| 2038 | 13.3 | 13.3 | 17.4 | 17.4 |
| 2039 | 13.3 | 13.3 | 17.4 | 17.4 |
| 2040 | 13.3 | 13.3 | 17.4 | 17.3 |
| 2041 | 13.3 | 13.3 | 17.3 | 17.3 |
| 2042 | 13.3 | 13.3 | 17.3 | 17.2 |
| 2043 | 13.3 | 13.3 | 17.2 | 17.2 |
| 2044 | 13.3 | 13.3 | 17.2 | 17.2 |
| 2045 | 13.3 | 13.3 | 17.2 | 17.1 |
| 2046 | 13.3 | 13.3 | 17.2 | 17.1 |
| 2047 | 13.3 | 13.3 | 17.1 | 17.1 |
| 2048 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2049 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2050 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2051 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2052 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2053 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2054 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2055 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2056 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2057 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2058 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2059 | 13.3 | 13.3 | 17.1 | 17.0 |
| 2060 | 13.3 | 13.3 | 17.2 | 17.0 |
| 2061 | 13.3 | 13.3 | 17.2 | 17.0 |
| 2062 | 13.3 | 13.3 | 17.2 | 17.0 |
| 2063 | 13.3 | 13.3 | 17.2 | 17.0 |
| 2064 | 13.3 | 13.3 | 17.2 | 17.0 |
| 2065 | 13.3 | 13.3 | 17.2 | 17.0 |
| 2066 | 13.3 | 13.3 | 17.2 | 17.0 |
| 2067 | 13.3 | 13.3 | 17.2 | 17.1 |
| 2068 | 13.3 | 13.3 | 17.3 | 17.1 |
| 2069 | 13.3 | 13.3 | 17.3 | 17.1 |
| 2070 | 13.3 | 13.3 | 17.3 | 17.1 |
| 2071 | 13.3 | 13.3 | 17.4 | 17.2 |
| 2072 | 13.3 | 13.3 | 17.4 | 17.2 |
| 2073 | 13.3 | 13.3 | 17.4 | 17.2 |
| 2074 | 13.3 | 13.3 | 17.4 | 17.2 |
| 2075 | 13.3 | 13.3 | 17.5 | 17.3 |
| 2076 | 13.3 | 13.3 | 17.5 | 17.3 |
| 2077 | 13.3 | 13.3 | 17.5 | 17.3 |
| 2078 | 13.3 | 13.3 | 17.5 | 17.3 |
| 2079 | 13.3 | 13.3 | 17.6 | 17.4 |
| 2080 | 13.3 | 13.3 | 17.6 | 17.4 |
| 2081 | 13.3 | 13.3 | 17.6 | 17.4 |
| 2082 | 13.3 | 13.3 | 17.7 | 17.5 |
| 2083 | 13.3 | 13.3 | 17.7 | 17.5 |
| 2084 | 13.3 | 13.3 | 17.8 | 17.5 |
| 2085 | 13.3 | 13.3 | 17.8 | 17.6 |
| 2086 | 13.3 | 13.3 | 17.8 | 17.6 |
| 2087 | 13.3 | 13.3 | 17.9 | 17.6 |
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