Summary Measures and Graphs
Description of Proposed Provision:
B3.14: Beginning with those newly eligible for OASDI benefits in 2022, reduce the 15 percent PIA factor by 2 percentage points per year so that it reaches 5 percent for those newly eligible in 2026 and later.
Estimates based on the intermediate assumptions
of the 2020 Trustees Report
Summary Measures | |||||||
---|---|---|---|---|---|---|---|
Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
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-3.21 | -4.51 | 0.36 | 0.53 | 11% | 12% |