Detailed Single Year Tables
Description of Proposed Provision:
B3.8: Beginning with those newly eligible for OASDI benefits in 2029, create a new bend point at the 50th percentile of the AIME distribution of newly retired workers and gradually reduce all PIA factors except for the 90 percent factor. By 2062: a) the 32 percent PIA factor below the new bend point reduces to 30 percent; b) the 32 percent PIA factor above the new bend point reduces to 10 percent; and c) the 15 percent PIA factor reduces to 5 percent.
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 | 0.01 | ||
| 2033 | 16.19 | 13.26 | -2.94 | 39 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.31 | 13.26 | -3.04 | 22 | -0.02 | -0.00 | 0.02 | ||
| 2035 | 16.39 | 13.27 | -3.12 | 3 | -0.03 | -0.00 | 0.02 | ||
| 2036 | 16.46 | 13.28 | -3.18 | ---- | -0.04 | -0.00 | 0.03 | ||
| 2037 | 16.53 | 13.28 | -3.24 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2038 | 16.57 | 13.29 | -3.28 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2039 | 16.60 | 13.29 | -3.31 | ---- | -0.09 | -0.00 | 0.08 | ||
| 2040 | 16.61 | 13.29 | -3.31 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2041 | 16.60 | 13.29 | -3.31 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2042 | 16.60 | 13.29 | -3.30 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2043 | 16.58 | 13.29 | -3.29 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2044 | 16.56 | 13.29 | -3.27 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2045 | 16.54 | 13.29 | -3.25 | ---- | -0.28 | -0.02 | 0.26 | ||
| 2046 | 16.52 | 13.29 | -3.23 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2047 | 16.50 | 13.29 | -3.21 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2048 | 16.48 | 13.29 | -3.19 | ---- | -0.41 | -0.02 | 0.39 | ||
| 2049 | 16.45 | 13.29 | -3.16 | ---- | -0.46 | -0.03 | 0.44 | ||
| 2050 | 16.43 | 13.29 | -3.14 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2051 | 16.41 | 13.29 | -3.12 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2052 | 16.38 | 13.29 | -3.09 | ---- | -0.63 | -0.04 | 0.59 | ||
| 2053 | 16.36 | 13.29 | -3.07 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2054 | 16.35 | 13.29 | -3.06 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2055 | 16.33 | 13.29 | -3.04 | ---- | -0.82 | -0.05 | 0.77 | ||
| 2056 | 16.32 | 13.29 | -3.03 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2057 | 16.31 | 13.29 | -3.02 | ---- | -0.95 | -0.05 | 0.90 | ||
| 2058 | 16.30 | 13.29 | -3.01 | ---- | -1.02 | -0.06 | 0.96 | ||
| 2059 | 16.29 | 13.29 | -3.00 | ---- | -1.09 | -0.06 | 1.03 | ||
| 2060 | 16.28 | 13.29 | -2.99 | ---- | -1.17 | -0.07 | 1.10 | ||
| 2061 | 16.27 | 13.29 | -2.98 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2062 | 16.26 | 13.29 | -2.96 | ---- | -1.31 | -0.08 | 1.24 | ||
| 2063 | 16.24 | 13.29 | -2.95 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2064 | 16.22 | 13.29 | -2.93 | ---- | -1.46 | -0.08 | 1.37 | ||
| 2065 | 16.20 | 13.29 | -2.91 | ---- | -1.53 | -0.09 | 1.44 | ||
| 2066 | 16.18 | 13.29 | -2.89 | ---- | -1.60 | -0.09 | 1.51 | ||
| 2067 | 16.16 | 13.29 | -2.87 | ---- | -1.67 | -0.10 | 1.57 | ||
| 2068 | 16.15 | 13.29 | -2.85 | ---- | -1.74 | -0.10 | 1.64 | ||
| 2069 | 16.14 | 13.29 | -2.84 | ---- | -1.81 | -0.11 | 1.70 | ||
| 2070 | 16.13 | 13.29 | -2.84 | ---- | -1.87 | -0.11 | 1.76 | ||
| 2071 | 16.12 | 13.29 | -2.83 | ---- | -1.94 | -0.11 | 1.82 | ||
| 2072 | 16.11 | 13.29 | -2.82 | ---- | -2.00 | -0.12 | 1.88 | ||
| 2073 | 16.11 | 13.29 | -2.82 | ---- | -2.05 | -0.12 | 1.93 | ||
| 2074 | 16.10 | 13.29 | -2.81 | ---- | -2.11 | -0.12 | 1.98 | ||
| 2075 | 16.10 | 13.29 | -2.80 | ---- | -2.16 | -0.13 | 2.03 | ||
| 2076 | 16.08 | 13.29 | -2.79 | ---- | -2.20 | -0.13 | 2.07 | ||
| 2077 | 16.06 | 13.29 | -2.77 | ---- | -2.25 | -0.13 | 2.11 | ||
| 2078 | 16.03 | 13.29 | -2.74 | ---- | -2.28 | -0.14 | 2.15 | ||
| 2079 | 16.00 | 13.29 | -2.71 | ---- | -2.32 | -0.14 | 2.18 | ||
| 2080 | 15.95 | 13.29 | -2.66 | ---- | -2.35 | -0.14 | 2.21 | ||
| 2081 | 15.90 | 13.29 | -2.62 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2082 | 15.85 | 13.28 | -2.57 | ---- | -2.39 | -0.14 | 2.25 | ||
| 2083 | 15.79 | 13.28 | -2.51 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2084 | 15.73 | 13.28 | -2.46 | ---- | -2.43 | -0.15 | 2.28 | ||
| 2085 | 15.67 | 13.27 | -2.39 | ---- | -2.44 | -0.15 | 2.29 | ||
| 2086 | 15.60 | 13.27 | -2.33 | ---- | -2.45 | -0.15 | 2.30 | ||
| 2087 | 15.53 | 13.26 | -2.26 | ---- | -2.45 | -0.15 | 2.31 | ||
| 2088 | 15.46 | 13.26 | -2.20 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2089 | 15.39 | 13.25 | -2.14 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2090 | 15.33 | 13.25 | -2.08 | ---- | -2.46 | -0.15 | 2.32 | ||
| 2091 | 15.28 | 13.25 | -2.03 | ---- | -2.46 | -0.15 | 2.32 | ||
| 2092 | 15.24 | 13.24 | -1.99 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2093 | 15.21 | 13.24 | -1.96 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2094 | 15.18 | 13.24 | -1.94 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2095 | 15.17 | 13.24 | -1.93 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2096 | 15.17 | 13.24 | -1.93 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2097 | 15.17 | 13.24 | -1.93 | ---- | -2.48 | -0.15 | 2.33 | ||
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 | 16.13% | 13.72% | -2.42% | 2035 | -1.06% | -0.06% | 1.00% | ||
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.