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 2031: 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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.20 | 13.07 | -2.13 | 152 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.11 | -2.25 | 134 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.42 | 13.13 | -2.28 | 117 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.47 | 13.16 | -2.31 | 101 | 0.00 | 0.00 | 0.00 | ||
| 2030 | 15.53 | 13.18 | -2.35 | 84 | 0.00 | 0.00 | 0.00 | ||
| 2031 | 15.57 | 13.20 | -2.37 | 68 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 15.60 | 13.22 | -2.38 | 53 | -0.00 | -0.00 | 0.00 | ||
| 2033 | 15.65 | 13.26 | -2.39 | 37 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 15.76 | 13.28 | -2.48 | 22 | -0.01 | -0.00 | 0.01 | ||
| 2035 | 15.86 | 13.29 | -2.58 | 7 | -0.02 | -0.00 | 0.02 | ||
| 2036 | 15.95 | 13.29 | -2.66 | — | -0.04 | -0.00 | 0.04 | ||
| 2037 | 16.03 | 13.30 | -2.73 | — | -0.06 | -0.00 | 0.06 | ||
| 2038 | 16.09 | 13.31 | -2.78 | — | -0.08 | -0.00 | 0.08 | ||
| 2039 | 16.13 | 13.31 | -2.82 | — | -0.12 | -0.01 | 0.11 | ||
| 2040 | 16.17 | 13.32 | -2.85 | — | -0.15 | -0.01 | 0.15 | ||
| 2041 | 16.19 | 13.32 | -2.87 | — | -0.20 | -0.01 | 0.19 | ||
| 2042 | 16.19 | 13.32 | -2.87 | — | -0.25 | -0.01 | 0.23 | ||
| 2043 | 16.18 | 13.32 | -2.86 | — | -0.30 | -0.02 | 0.28 | ||
| 2044 | 16.16 | 13.32 | -2.84 | — | -0.36 | -0.02 | 0.34 | ||
| 2045 | 16.13 | 13.32 | -2.81 | — | -0.42 | -0.02 | 0.40 | ||
| 2046 | 16.10 | 13.32 | -2.78 | — | -0.49 | -0.03 | 0.46 | ||
| 2047 | 16.06 | 13.32 | -2.74 | — | -0.56 | -0.03 | 0.53 | ||
| 2048 | 16.03 | 13.32 | -2.71 | — | -0.64 | -0.04 | 0.60 | ||
| 2049 | 15.99 | 13.32 | -2.68 | — | -0.71 | -0.04 | 0.67 | ||
| 2050 | 15.96 | 13.32 | -2.65 | — | -0.80 | -0.05 | 0.75 | ||
| 2051 | 15.93 | 13.32 | -2.61 | — | -0.88 | -0.05 | 0.83 | ||
| 2052 | 15.90 | 13.32 | -2.58 | — | -0.97 | -0.06 | 0.91 | ||
| 2053 | 15.87 | 13.32 | -2.56 | — | -1.06 | -0.06 | 1.00 | ||
| 2054 | 15.85 | 13.32 | -2.53 | — | -1.15 | -0.07 | 1.08 | ||
| 2055 | 15.83 | 13.32 | -2.51 | — | -1.25 | -0.07 | 1.17 | ||
| 2056 | 15.81 | 13.32 | -2.50 | — | -1.34 | -0.08 | 1.26 | ||
| 2057 | 15.80 | 13.32 | -2.49 | — | -1.44 | -0.09 | 1.35 | ||
| 2058 | 15.79 | 13.32 | -2.47 | — | -1.54 | -0.09 | 1.45 | ||
| 2059 | 15.78 | 13.32 | -2.46 | — | -1.64 | -0.10 | 1.54 | ||
| 2060 | 15.77 | 13.32 | -2.45 | — | -1.74 | -0.11 | 1.63 | ||
| 2061 | 15.75 | 13.32 | -2.43 | — | -1.83 | -0.11 | 1.72 | ||
| 2062 | 15.73 | 13.32 | -2.41 | — | -1.93 | -0.12 | 1.81 | ||
| 2063 | 15.70 | 13.32 | -2.38 | — | -2.02 | -0.12 | 1.90 | ||
| 2064 | 15.67 | 13.32 | -2.35 | — | -2.12 | -0.13 | 1.99 | ||
| 2065 | 15.64 | 13.32 | -2.32 | — | -2.21 | -0.14 | 2.08 | ||
| 2066 | 15.61 | 13.32 | -2.30 | — | -2.30 | -0.14 | 2.16 | ||
| 2067 | 15.58 | 13.32 | -2.27 | — | -2.40 | -0.15 | 2.25 | ||
| 2068 | 15.56 | 13.32 | -2.24 | — | -2.49 | -0.15 | 2.34 | ||
| 2069 | 15.53 | 13.32 | -2.22 | — | -2.58 | -0.16 | 2.42 | ||
| 2070 | 15.51 | 13.31 | -2.20 | — | -2.67 | -0.16 | 2.51 | ||
| 2071 | 15.49 | 13.31 | -2.17 | — | -2.76 | -0.17 | 2.59 | ||
| 2072 | 15.46 | 13.31 | -2.15 | — | -2.85 | -0.18 | 2.68 | ||
| 2073 | 15.43 | 13.31 | -2.12 | — | -2.94 | -0.18 | 2.76 | ||
| 2074 | 15.40 | 13.31 | -2.09 | — | -3.03 | -0.19 | 2.84 | ||
| 2075 | 15.37 | 13.31 | -2.05 | — | -3.12 | -0.19 | 2.93 | ||
| 2076 | 15.32 | 13.31 | -2.01 | — | -3.20 | -0.20 | 3.01 | ||
| 2077 | 15.27 | 13.31 | -1.97 | — | -3.29 | -0.20 | 3.08 | ||
| 2078 | 15.21 | 13.30 | -1.91 | — | -3.37 | -0.21 | 3.16 | ||
| 2079 | 15.15 | 13.30 | -1.85 | — | -3.45 | -0.21 | 3.23 | ||
| 2080 | 15.07 | 13.30 | -1.78 | — | -3.52 | -0.22 | 3.30 | ||
| 2081 | 14.99 | 13.29 | -1.70 | — | -3.59 | -0.22 | 3.37 | ||
| 2082 | 14.91 | 13.29 | -1.62 | — | -3.66 | -0.23 | 3.44 | ||
| 2083 | 14.82 | 13.28 | -1.53 | — | -3.73 | -0.23 | 3.50 | ||
| 2084 | 14.72 | 13.27 | -1.44 | — | -3.80 | -0.24 | 3.56 | ||
| 2085 | 14.61 | 13.27 | -1.35 | — | -3.86 | -0.24 | 3.62 | ||
| 2086 | 14.50 | 13.26 | -1.24 | — | -3.92 | -0.24 | 3.67 | ||
| 2087 | 14.39 | 13.25 | -1.14 | — | -3.97 | -0.25 | 3.72 | ||
| 2088 | 14.28 | 13.25 | -1.03 | — | -4.03 | -0.25 | 3.77 | ||
| 2089 | 14.17 | 13.24 | -0.93 | — | -4.08 | -0.25 | 3.82 | ||
| 2090 | 14.06 | 13.23 | -0.83 | — | -4.13 | -0.26 | 3.87 | ||
| 2091 | 13.96 | 13.23 | -0.73 | — | -4.19 | -0.26 | 3.92 | ||
| 2092 | 13.86 | 13.22 | -0.64 | — | -4.24 | -0.27 | 3.98 | ||
| 2093 | 13.78 | 13.22 | -0.56 | — | -4.30 | -0.27 | 4.03 | ||
| 2094 | 13.71 | 13.21 | -0.49 | — | -4.36 | -0.27 | 4.09 | ||
| 2095 | 13.64 | 13.21 | -0.43 | — | -4.43 | -0.28 | 4.15 | ||
| 2096 | 13.58 | 13.20 | -0.38 | — | -4.49 | -0.28 | 4.21 | ||
| 2097 | 13.53 | 13.20 | -0.33 | — | -4.56 | -0.29 | 4.28 | ||
| 2098 | 13.49 | 13.20 | -0.29 | — | -4.63 | -0.29 | 4.34 | ||
| 2099 | 13.45 | 13.20 | -0.26 | — | -4.71 | -0.29 | 4.41 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 15.56% | 13.69% | -1.86% | 2035 | -1.74% | -0.10% | 1.64% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2024 Trustees Report.