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 2029: 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 |
|||
| 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 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 16.06 | 13.24 | -2.82 | 57 | -0.01 | -0.00 | 0.00 | ||
| 2033 | 16.20 | 13.26 | -2.94 | 39 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.31 | 13.26 | -3.04 | 22 | -0.01 | -0.00 | 0.01 | ||
| 2035 | 16.40 | 13.27 | -3.13 | 3 | -0.02 | -0.00 | 0.02 | ||
| 2036 | 16.47 | 13.28 | -3.19 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2037 | 16.53 | 13.28 | -3.25 | ---- | -0.05 | -0.00 | 0.04 | ||
| 2038 | 16.58 | 13.29 | -3.29 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2039 | 16.61 | 13.29 | -3.31 | ---- | -0.08 | -0.00 | 0.08 | ||
| 2040 | 16.62 | 13.29 | -3.32 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2041 | 16.61 | 13.29 | -3.32 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2042 | 16.61 | 13.29 | -3.32 | ---- | -0.15 | -0.01 | 0.15 | ||
| 2043 | 16.60 | 13.29 | -3.30 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2044 | 16.59 | 13.29 | -3.29 | ---- | -0.22 | -0.01 | 0.20 | ||
| 2045 | 16.57 | 13.29 | -3.28 | ---- | -0.25 | -0.01 | 0.24 | ||
| 2046 | 16.55 | 13.29 | -3.26 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2047 | 16.54 | 13.29 | -3.25 | ---- | -0.32 | -0.02 | 0.31 | ||
| 2048 | 16.53 | 13.29 | -3.23 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2049 | 16.51 | 13.29 | -3.22 | ---- | -0.41 | -0.02 | 0.38 | ||
| 2050 | 16.50 | 13.29 | -3.21 | ---- | -0.45 | -0.03 | 0.42 | ||
| 2051 | 16.49 | 13.29 | -3.19 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2052 | 16.47 | 13.29 | -3.18 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2053 | 16.46 | 13.29 | -3.17 | ---- | -0.59 | -0.03 | 0.56 | ||
| 2054 | 16.46 | 13.29 | -3.16 | ---- | -0.64 | -0.04 | 0.60 | ||
| 2055 | 16.46 | 13.30 | -3.16 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2056 | 16.46 | 13.30 | -3.16 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2057 | 16.47 | 13.30 | -3.17 | ---- | -0.79 | -0.05 | 0.75 | ||
| 2058 | 16.48 | 13.30 | -3.18 | ---- | -0.85 | -0.05 | 0.80 | ||
| 2059 | 16.49 | 13.30 | -3.19 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2060 | 16.50 | 13.30 | -3.20 | ---- | -0.95 | -0.06 | 0.90 | ||
| 2061 | 16.51 | 13.31 | -3.20 | ---- | -1.00 | -0.06 | 0.94 | ||
| 2062 | 16.51 | 13.31 | -3.21 | ---- | -1.06 | -0.06 | 0.99 | ||
| 2063 | 16.52 | 13.31 | -3.21 | ---- | -1.11 | -0.07 | 1.04 | ||
| 2064 | 16.52 | 13.31 | -3.21 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2065 | 16.52 | 13.31 | -3.21 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2066 | 16.52 | 13.31 | -3.21 | ---- | -1.26 | -0.07 | 1.19 | ||
| 2067 | 16.52 | 13.31 | -3.21 | ---- | -1.31 | -0.08 | 1.23 | ||
| 2068 | 16.53 | 13.31 | -3.21 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2069 | 16.53 | 13.31 | -3.22 | ---- | -1.41 | -0.08 | 1.33 | ||
| 2070 | 16.54 | 13.32 | -3.23 | ---- | -1.46 | -0.09 | 1.37 | ||
| 2071 | 16.55 | 13.32 | -3.23 | ---- | -1.51 | -0.09 | 1.42 | ||
| 2072 | 16.55 | 13.32 | -3.24 | ---- | -1.56 | -0.09 | 1.46 | ||
| 2073 | 16.56 | 13.32 | -3.24 | ---- | -1.60 | -0.10 | 1.50 | ||
| 2074 | 16.57 | 13.32 | -3.25 | ---- | -1.64 | -0.10 | 1.55 | ||
| 2075 | 16.57 | 13.32 | -3.25 | ---- | -1.68 | -0.10 | 1.58 | ||
| 2076 | 16.56 | 13.32 | -3.24 | ---- | -1.72 | -0.10 | 1.62 | ||
| 2077 | 16.55 | 13.32 | -3.23 | ---- | -1.76 | -0.11 | 1.65 | ||
| 2078 | 16.53 | 13.32 | -3.21 | ---- | -1.79 | -0.11 | 1.68 | ||
| 2079 | 16.50 | 13.32 | -3.18 | ---- | -1.82 | -0.11 | 1.71 | ||
| 2080 | 16.46 | 13.32 | -3.14 | ---- | -1.84 | -0.11 | 1.73 | ||
| 2081 | 16.41 | 13.32 | -3.10 | ---- | -1.86 | -0.11 | 1.75 | ||
| 2082 | 16.36 | 13.31 | -3.05 | ---- | -1.88 | -0.11 | 1.77 | ||
| 2083 | 16.31 | 13.31 | -3.00 | ---- | -1.90 | -0.11 | 1.79 | ||
| 2084 | 16.25 | 13.31 | -2.94 | ---- | -1.91 | -0.12 | 1.80 | ||
| 2085 | 16.18 | 13.30 | -2.88 | ---- | -1.93 | -0.12 | 1.81 | ||
| 2086 | 16.11 | 13.30 | -2.81 | ---- | -1.93 | -0.12 | 1.82 | ||
| 2087 | 16.04 | 13.29 | -2.75 | ---- | -1.94 | -0.12 | 1.82 | ||
| 2088 | 15.97 | 13.29 | -2.68 | ---- | -1.95 | -0.12 | 1.83 | ||
| 2089 | 15.90 | 13.28 | -2.62 | ---- | -1.95 | -0.12 | 1.83 | ||
| 2090 | 15.84 | 13.28 | -2.56 | ---- | -1.95 | -0.12 | 1.84 | ||
| 2091 | 15.79 | 13.28 | -2.51 | ---- | -1.96 | -0.12 | 1.84 | ||
| 2092 | 15.74 | 13.27 | -2.47 | ---- | -1.96 | -0.12 | 1.84 | ||
| 2093 | 15.71 | 13.27 | -2.44 | ---- | -1.96 | -0.12 | 1.84 | ||
| 2094 | 15.69 | 13.27 | -2.42 | ---- | -1.97 | -0.12 | 1.85 | ||
| 2095 | 15.67 | 13.27 | -2.40 | ---- | -1.97 | -0.12 | 1.85 | ||
| 2096 | 15.67 | 13.27 | -2.40 | ---- | -1.97 | -0.12 | 1.85 | ||
| 2097 | 15.67 | 13.27 | -2.40 | ---- | -1.98 | -0.12 | 1.86 | ||
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 | 16.35% | 13.73% | -2.62% | 2035 | -0.85% | -0.05% | 0.80% | ||
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.