Detailed Single Year Tables
Description of Proposed Provision:
B1.2: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2029: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th 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 |
|||
| 2022 | 14.05 | 12.79 | -1.26 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.31 | 13.04 | -1.27 | 211 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.45 | 12.95 | -1.49 | 194 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.66 | 12.97 | -1.69 | 177 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 14.88 | 13.08 | -1.80 | 160 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.10 | 13.10 | -2.00 | 143 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.33 | 13.14 | -2.19 | 126 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.53 | 13.17 | -2.35 | 109 | -0.00 | -0.00 | 0.00 | ||
| 2030 | 15.72 | 13.20 | -2.52 | 91 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 15.90 | 13.23 | -2.67 | 74 | -0.01 | -0.00 | 0.01 | ||
| 2032 | 16.06 | 13.24 | -2.81 | 57 | -0.01 | -0.00 | 0.01 | ||
| 2033 | 16.19 | 13.26 | -2.93 | 39 | -0.02 | -0.00 | 0.02 | ||
| 2034 | 16.29 | 13.26 | -3.03 | 22 | -0.03 | -0.00 | 0.03 | ||
| 2035 | 16.37 | 13.27 | -3.10 | 4 | -0.05 | -0.00 | 0.04 | ||
| 2036 | 16.43 | 13.28 | -3.16 | ---- | -0.07 | -0.00 | 0.06 | ||
| 2037 | 16.49 | 13.28 | -3.20 | ---- | -0.09 | -0.00 | 0.09 | ||
| 2038 | 16.52 | 13.29 | -3.23 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2039 | 16.53 | 13.29 | -3.24 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2040 | 16.52 | 13.29 | -3.23 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2041 | 16.50 | 13.29 | -3.21 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2042 | 16.48 | 13.29 | -3.19 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2043 | 16.44 | 13.29 | -3.16 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2044 | 16.41 | 13.29 | -3.12 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2045 | 16.37 | 13.28 | -3.08 | ---- | -0.45 | -0.02 | 0.43 | ||
| 2046 | 16.32 | 13.28 | -3.04 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2047 | 16.28 | 13.28 | -3.00 | ---- | -0.59 | -0.03 | 0.55 | ||
| 2048 | 16.23 | 13.28 | -2.95 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2049 | 16.19 | 13.28 | -2.91 | ---- | -0.73 | -0.04 | 0.69 | ||
| 2050 | 16.14 | 13.27 | -2.87 | ---- | -0.81 | -0.04 | 0.76 | ||
| 2051 | 16.10 | 13.27 | -2.82 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2052 | 16.05 | 13.27 | -2.78 | ---- | -0.97 | -0.05 | 0.91 | ||
| 2053 | 16.00 | 13.27 | -2.73 | ---- | -1.05 | -0.06 | 0.99 | ||
| 2054 | 15.96 | 13.27 | -2.69 | ---- | -1.14 | -0.06 | 1.07 | ||
| 2055 | 15.92 | 13.27 | -2.66 | ---- | -1.22 | -0.07 | 1.16 | ||
| 2056 | 15.89 | 13.27 | -2.62 | ---- | -1.31 | -0.07 | 1.24 | ||
| 2057 | 15.86 | 13.26 | -2.59 | ---- | -1.40 | -0.08 | 1.32 | ||
| 2058 | 15.83 | 13.26 | -2.56 | ---- | -1.49 | -0.09 | 1.41 | ||
| 2059 | 15.80 | 13.26 | -2.54 | ---- | -1.59 | -0.09 | 1.50 | ||
| 2060 | 15.77 | 13.26 | -2.51 | ---- | -1.68 | -0.10 | 1.58 | ||
| 2061 | 15.74 | 13.26 | -2.48 | ---- | -1.77 | -0.10 | 1.67 | ||
| 2062 | 15.71 | 13.26 | -2.45 | ---- | -1.86 | -0.11 | 1.75 | ||
| 2063 | 15.68 | 13.26 | -2.42 | ---- | -1.95 | -0.11 | 1.84 | ||
| 2064 | 15.64 | 13.26 | -2.38 | ---- | -2.04 | -0.12 | 1.92 | ||
| 2065 | 15.60 | 13.26 | -2.35 | ---- | -2.13 | -0.12 | 2.00 | ||
| 2066 | 15.57 | 13.26 | -2.31 | ---- | -2.21 | -0.13 | 2.09 | ||
| 2067 | 15.53 | 13.26 | -2.28 | ---- | -2.30 | -0.13 | 2.17 | ||
| 2068 | 15.50 | 13.26 | -2.24 | ---- | -2.39 | -0.14 | 2.25 | ||
| 2069 | 15.47 | 13.25 | -2.21 | ---- | -2.48 | -0.14 | 2.33 | ||
| 2070 | 15.44 | 13.25 | -2.18 | ---- | -2.56 | -0.15 | 2.41 | ||
| 2071 | 15.41 | 13.25 | -2.15 | ---- | -2.65 | -0.16 | 2.50 | ||
| 2072 | 15.37 | 13.25 | -2.12 | ---- | -2.74 | -0.16 | 2.58 | ||
| 2073 | 15.34 | 13.25 | -2.09 | ---- | -2.82 | -0.17 | 2.66 | ||
| 2074 | 15.30 | 13.25 | -2.05 | ---- | -2.91 | -0.17 | 2.74 | ||
| 2075 | 15.26 | 13.25 | -2.01 | ---- | -3.00 | -0.18 | 2.82 | ||
| 2076 | 15.21 | 13.24 | -1.96 | ---- | -3.08 | -0.18 | 2.90 | ||
| 2077 | 15.15 | 13.24 | -1.91 | ---- | -3.16 | -0.19 | 2.97 | ||
| 2078 | 15.08 | 13.24 | -1.85 | ---- | -3.24 | -0.19 | 3.04 | ||
| 2079 | 15.01 | 13.23 | -1.77 | ---- | -3.31 | -0.20 | 3.11 | ||
| 2080 | 14.92 | 13.23 | -1.69 | ---- | -3.38 | -0.20 | 3.18 | ||
| 2081 | 14.83 | 13.22 | -1.61 | ---- | -3.45 | -0.20 | 3.24 | ||
| 2082 | 14.73 | 13.22 | -1.51 | ---- | -3.51 | -0.21 | 3.30 | ||
| 2083 | 14.63 | 13.21 | -1.42 | ---- | -3.58 | -0.21 | 3.36 | ||
| 2084 | 14.52 | 13.21 | -1.32 | ---- | -3.64 | -0.22 | 3.42 | ||
| 2085 | 14.41 | 13.20 | -1.21 | ---- | -3.69 | -0.22 | 3.48 | ||
| 2086 | 14.30 | 13.19 | -1.11 | ---- | -3.75 | -0.22 | 3.53 | ||
| 2087 | 14.18 | 13.19 | -0.99 | ---- | -3.80 | -0.23 | 3.58 | ||
| 2088 | 14.06 | 13.18 | -0.88 | ---- | -3.85 | -0.23 | 3.63 | ||
| 2089 | 13.95 | 13.17 | -0.78 | ---- | -3.90 | -0.23 | 3.67 | ||
| 2090 | 13.84 | 13.16 | -0.67 | ---- | -3.96 | -0.23 | 3.72 | ||
| 2091 | 13.73 | 13.16 | -0.58 | ---- | -4.01 | -0.24 | 3.77 | ||
| 2092 | 13.64 | 13.15 | -0.49 | ---- | -4.06 | -0.24 | 3.82 | ||
| 2093 | 13.55 | 13.15 | -0.41 | ---- | -4.12 | -0.24 | 3.88 | ||
| 2094 | 13.47 | 13.14 | -0.33 | ---- | -4.18 | -0.25 | 3.93 | ||
| 2095 | 13.40 | 13.14 | -0.27 | ---- | -4.24 | -0.25 | 3.99 | ||
| 2096 | 13.34 | 13.13 | -0.21 | ---- | -4.30 | -0.25 | 4.05 | ||
| 2097 | 13.28 | 13.13 | -0.15 | ---- | -4.36 | -0.26 | 4.11 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2022-2096 | 15.60% | 13.69% | -1.92% | 2035 | -1.60% | -0.09% | 1.50% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2022 Trustees Report.