Proposed Provision: Beginning with those newly eligible for OASDI benefits in 2017 and later, reduce PIA formula factors so that benefits grow by inflation rather than by increases in real wages.
OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)
  |
Income Rates |
Cost Rates |
Year |
Present Law |
Provision |
Present Law |
Provision |
2010 | 12.3 | 12.3 | 13.1 | 13.1 |
2011 | 12.9 | 12.9 | 13.0 | 13.0 |
2012 | 12.9 | 12.9 | 12.8 | 12.8 |
2013 | 12.9 | 12.9 | 12.8 | 12.8 |
2014 | 12.9 | 12.9 | 12.9 | 12.9 |
2015 | 12.9 | 12.9 | 13.0 | 13.0 |
2016 | 13.0 | 13.0 | 13.1 | 13.1 |
2017 | 13.0 | 13.0 | 13.3 | 13.3 |
2018 | 13.0 | 13.0 | 13.5 | 13.5 |
2019 | 13.0 | 13.0 | 13.8 | 13.8 |
2020 | 13.0 | 13.0 | 14.1 | 14.1 |
2021 | 13.1 | 13.1 | 14.5 | 14.4 |
2022 | 13.1 | 13.1 | 14.7 | 14.6 |
2023 | 13.1 | 13.1 | 15.0 | 14.8 |
2024 | 13.1 | 13.1 | 15.3 | 15.0 |
2025 | 13.1 | 13.1 | 15.5 | 15.2 |
2026 | 13.1 | 13.1 | 15.8 | 15.4 |
2027 | 13.2 | 13.1 | 16.0 | 15.5 |
2028 | 13.2 | 13.1 | 16.1 | 15.6 |
2029 | 13.2 | 13.2 | 16.3 | 15.6 |
2030 | 13.2 | 13.2 | 16.4 | 15.6 |
2031 | 13.2 | 13.2 | 16.5 | 15.6 |
2032 | 13.2 | 13.2 | 16.6 | 15.6 |
2033 | 13.2 | 13.2 | 16.7 | 15.6 |
2034 | 13.2 | 13.2 | 16.7 | 15.5 |
2035 | 13.2 | 13.2 | 16.7 | 15.4 |
2036 | 13.2 | 13.2 | 16.7 | 15.3 |
2037 | 13.2 | 13.2 | 16.7 | 15.2 |
2038 | 13.2 | 13.1 | 16.7 | 15.0 |
2039 | 13.2 | 13.1 | 16.7 | 14.9 |
2040 | 13.2 | 13.1 | 16.6 | 14.7 |
2041 | 13.2 | 13.1 | 16.6 | 14.5 |
2042 | 13.2 | 13.1 | 16.6 | 14.3 |
2043 | 13.2 | 13.1 | 16.5 | 14.2 |
2044 | 13.2 | 13.1 | 16.5 | 14.0 |
2045 | 13.2 | 13.1 | 16.4 | 13.8 |
2046 | 13.2 | 13.1 | 16.4 | 13.6 |
2047 | 13.2 | 13.1 | 16.4 | 13.5 |
2048 | 13.2 | 13.1 | 16.4 | 13.3 |
2049 | 13.2 | 13.1 | 16.4 | 13.1 |
2050 | 13.2 | 13.1 | 16.3 | 13.0 |
2051 | 13.2 | 13.0 | 16.3 | 12.8 |
2052 | 13.2 | 13.0 | 16.3 | 12.7 |
2053 | 13.2 | 13.0 | 16.3 | 12.5 |
2054 | 13.2 | 13.0 | 16.3 | 12.4 |
2055 | 13.2 | 13.0 | 16.4 | 12.3 |
2056 | 13.2 | 13.0 | 16.4 | 12.2 |
2057 | 13.2 | 13.0 | 16.4 | 12.0 |
2058 | 13.2 | 13.0 | 16.4 | 11.9 |
2059 | 13.2 | 13.0 | 16.5 | 11.8 |
2060 | 13.2 | 13.0 | 16.5 | 11.7 |
2061 | 13.2 | 13.0 | 16.5 | 11.6 |
2062 | 13.2 | 13.0 | 16.5 | 11.5 |
2063 | 13.2 | 13.0 | 16.6 | 11.4 |
2064 | 13.3 | 13.0 | 16.6 | 11.2 |
2065 | 13.3 | 13.0 | 16.6 | 11.1 |
2066 | 13.3 | 13.0 | 16.7 | 11.0 |
2067 | 13.3 | 13.0 | 16.7 | 10.9 |
2068 | 13.3 | 13.0 | 16.7 | 10.9 |
2069 | 13.3 | 12.9 | 16.8 | 10.8 |
2070 | 13.3 | 12.9 | 16.8 | 10.7 |
2071 | 13.3 | 12.9 | 16.8 | 10.6 |
2072 | 13.3 | 12.9 | 16.9 | 10.5 |
2073 | 13.3 | 12.9 | 16.9 | 10.4 |
2074 | 13.3 | 12.9 | 17.0 | 10.3 |
2075 | 13.3 | 12.9 | 17.0 | 10.2 |
2076 | 13.3 | 12.9 | 17.1 | 10.2 |
2077 | 13.3 | 12.9 | 17.1 | 10.1 |
2078 | 13.3 | 12.9 | 17.2 | 10.0 |
2079 | 13.3 | 12.9 | 17.2 | 9.9 |
2080 | 13.3 | 12.9 | 17.3 | 9.8 |
2081 | 13.3 | 12.9 | 17.3 | 9.7 |
2082 | 13.3 | 12.9 | 17.3 | 9.7 |
2083 | 13.3 | 12.9 | 17.4 | 9.6 |
2084 | 13.3 | 12.9 | 17.4 | 9.5 |
2085 | 13.3 | 12.9 | 17.5 | 9.4 |
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