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Detailed Single Year Tables
Level of Monthly Benefits (PIA)

Description of Proposed Provision:
Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASI benefits in 2019. Create new bend point at the 30th percentile of earners. Maintain current-law benefits for earners at the 30th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit grows by inflation rather than the growth in average wages. Disability benefits are not affected by the proposal. Disabled worker beneficiaries, upon attaining normal retirement age, would be subject to a proportional reduction in benefits based on the worker's years of disability.

 

Financial Estimates for the OASDI Trust Fund Program
 
  Proposal
   Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

 Trust fund
ratio as of
January 1		 Expressed as a percentage of
present-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance
Cost
rate		 Income
rate		 Annual
balance
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.12
353
0.000.000.00
201212.8412.870.03
350
0.000.000.00
201312.8212.900.08
346
0.000.000.00
201412.8612.920.06
341
0.000.000.00
201512.9812.94-0.04
335
0.000.000.00
201613.1012.96-0.14
330
0.000.000.00
201713.3012.99-0.32
324
0.000.000.00
201813.5513.01-0.53
317
0.000.000.00
201913.8313.03-0.80
309
-0.010.000.01
202014.1313.05-1.08
300
-0.020.000.02
202114.4213.07-1.36
290
-0.030.000.03
202214.7013.08-1.61
278
-0.050.000.05
202314.9613.10-1.86
266
-0.070.000.07
202415.1913.11-2.08
254
-0.10-0.010.09
202515.4113.13-2.28
240
-0.12-0.010.12
202615.6013.14-2.46
226
-0.16-0.010.15
202715.7613.15-2.61
211
-0.19-0.010.18
202815.9013.16-2.74
196
-0.23-0.010.22
202916.0213.17-2.85
180
-0.27-0.010.25
203016.0913.18-2.92
164
-0.31-0.020.29
203116.1513.18-2.97
148
-0.36-0.020.34
203216.1913.19-3.00
131
-0.40-0.020.38
203316.2013.19-3.01
115
-0.45-0.020.43
203416.2013.19-3.01
98
-0.51-0.030.48
203516.1713.19-2.98
81
-0.56-0.030.53
203616.1213.19-2.93
64
-0.61-0.030.58
203716.0713.19-2.87
47
-0.67-0.040.63
203815.9913.19-2.80
30
-0.73-0.040.69
203915.8913.19-2.71
14
-0.79-0.040.74
204015.8013.18-2.61
----
-0.85-0.050.80
204115.6913.18-2.51
----
-0.90-0.050.85
204215.5913.17-2.41
----
-0.97-0.050.91
204315.4813.17-2.31
----
-1.03-0.060.97
204415.3813.17-2.22
----
-1.09-0.061.03
204515.2813.16-2.12
----
-1.16-0.061.09
204615.1913.16-2.04
----
-1.23-0.071.16
204715.1013.15-1.95
----
-1.29-0.071.22
204815.0213.15-1.87
----
-1.36-0.081.28
204914.9313.15-1.78
----
-1.43-0.081.35
205014.8413.14-1.70
----
-1.49-0.081.41
205114.7713.14-1.63
----
-1.56-0.091.47
205214.7013.14-1.56
----
-1.62-0.091.53
205314.6413.13-1.51
----
-1.69-0.101.60
205414.5913.13-1.45
----
-1.76-0.101.66
205514.5413.13-1.41
----
-1.83-0.101.73
205614.4913.13-1.36
----
-1.90-0.111.79
205714.4513.13-1.32
----
-1.97-0.111.86
205814.4013.12-1.28
----
-2.04-0.121.92
205914.3613.12-1.24
----
-2.10-0.121.98
206014.3113.12-1.19
----
-2.17-0.122.05
206114.2713.12-1.15
----
-2.24-0.132.11
206214.2313.12-1.12
----
-2.30-0.132.17
206314.1913.11-1.08
----
-2.36-0.132.23
206414.1613.11-1.04
----
-2.43-0.142.29
206514.1213.11-1.01
----
-2.49-0.142.35
206614.0913.11-0.98
----
-2.56-0.152.41
206714.0713.11-0.96
----
-2.62-0.152.47
206814.0413.11-0.93
----
-2.68-0.152.53
206914.0213.11-0.91
----
-2.75-0.162.59
207014.0013.11-0.89
----
-2.81-0.162.65
207113.9813.11-0.87
----
-2.87-0.162.71
207213.9613.11-0.85
----
-2.94-0.172.77
207313.9413.10-0.83
----
-3.00-0.172.83
207413.9213.10-0.82
----
-3.06-0.182.89
207513.9013.10-0.80
----
-3.13-0.182.95
207613.8813.10-0.78
----
-3.19-0.183.01
207713.8713.10-0.76
----
-3.25-0.193.06
207813.8513.10-0.75
----
-3.31-0.193.12
207913.8313.10-0.73
----
-3.37-0.193.18
208013.8113.10-0.71
----
-3.44-0.203.24
208113.8013.10-0.70
----
-3.50-0.203.30
208213.7813.10-0.68
----
-3.56-0.203.35
208313.7613.10-0.67
----
-3.62-0.213.41
208413.7513.10-0.65
----
-3.68-0.213.47
208513.7313.10-0.63
----
-3.74-0.213.52



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of
exhaustion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 14.74% 13.94% -0.79%
2039
-1.19% -0.07% 1.13%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 2, 2011