Detailed Single Year Tables

Level of Monthly Benefits	Description of Proposed Provision: Beginning with those newly eligible for OASDI benefits in 2024, gradually reduce the 15 percent PIA formula factor in each year so that it reaches 10 percent for those newly eligible in 2053 and later.

			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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2011	13.35	12.52	-0.82	353	0.00	0.00	0.00
2012	13.23	12.87	-0.36	347	0.00	0.00	0.00
2013	13.18	12.87	-0.31	341	0.00	0.00	0.00
2014	13.18	12.92	-0.27	334	0.00	0.00	0.00
2015	13.24	12.94	-0.30	328	0.00	0.00	0.00
2016	13.33	12.97	-0.36	321	0.00	0.00	0.00
2017	13.46	13.00	-0.46	314	0.00	0.00	0.00
2018	13.62	13.03	-0.59	306	0.00	0.00	0.00
2019	13.88	13.04	-0.84	296	0.00	0.00	0.00
2020	14.20	13.06	-1.14	284	0.00	0.00	0.00
2021	14.52	13.08	-1.44	272	0.00	0.00	0.00
2022	14.83	13.10	-1.73	259	0.00	0.00	0.00
2023	15.13	13.12	-2.01	245	0.00	0.00	0.00
2024	15.40	13.13	-2.27	230	0.00	0.00	0.00
2025	15.67	13.15	-2.52	214	0.00	0.00	0.00
2026	15.92	13.16	-2.76	198	0.00	0.00	0.00
2027	16.15	13.18	-2.97	181	0.00	0.00	0.00
2028	16.34	13.19	-3.15	164	0.00	0.00	0.00
2029	16.51	13.20	-3.31	145	0.00	0.00	0.00
2030	16.65	13.21	-3.44	127	0.00	0.00	0.00
2031	16.76	13.22	-3.54	107	-0.01	0.00	0.01
2032	16.85	13.23	-3.62	87	-0.01	0.00	0.01
2033	16.92	13.23	-3.69	67	-0.01	0.00	0.01
2034	16.97	13.24	-3.73	46	-0.01	0.00	0.01
2035	17.00	13.24	-3.76	25	-0.02	0.00	0.02
2036	17.01	13.24	-3.77	4	-0.02	0.00	0.02
2037	17.02	13.25	-3.77	----	-0.02	0.00	0.02
2038	16.99	13.25	-3.75	----	-0.03	0.00	0.03
2039	16.96	13.25	-3.71	----	-0.03	0.00	0.03
2040	16.92	13.25	-3.67	----	-0.04	0.00	0.03
2041	16.87	13.25	-3.63	----	-0.04	0.00	0.04
2042	16.83	13.24	-3.58	----	-0.05	0.00	0.04
2043	16.79	13.24	-3.55	----	-0.05	0.00	0.05
2044	16.76	13.24	-3.52	----	-0.06	0.00	0.05
2045	16.73	13.24	-3.48	----	-0.06	0.00	0.06
2046	16.69	13.24	-3.45	----	-0.07	0.00	0.06
2047	16.67	13.24	-3.43	----	-0.07	0.00	0.07
2048	16.64	13.24	-3.40	----	-0.08	0.00	0.07
2049	16.62	13.24	-3.38	----	-0.08	0.00	0.08
2050	16.60	13.24	-3.36	----	-0.09	0.00	0.09
2051	16.58	13.24	-3.34	----	-0.10	-0.01	0.09
2052	16.58	13.24	-3.34	----	-0.10	-0.01	0.10
2053	16.58	13.24	-3.34	----	-0.11	-0.01	0.10
2054	16.59	13.24	-3.34	----	-0.12	-0.01	0.11
2055	16.60	13.24	-3.35	----	-0.12	-0.01	0.12
2056	16.61	13.25	-3.37	----	-0.13	-0.01	0.12
2057	16.63	13.25	-3.38	----	-0.14	-0.01	0.13
2058	16.64	13.25	-3.39	----	-0.14	-0.01	0.14
2059	16.64	13.25	-3.40	----	-0.15	-0.01	0.14
2060	16.65	13.25	-3.40	----	-0.15	-0.01	0.15
2061	16.65	13.25	-3.40	----	-0.16	-0.01	0.15
2062	16.66	13.25	-3.41	----	-0.17	-0.01	0.16
2063	16.67	13.25	-3.41	----	-0.17	-0.01	0.16
2064	16.68	13.25	-3.42	----	-0.17	-0.01	0.16
2065	16.69	13.26	-3.43	----	-0.18	-0.01	0.17
2066	16.71	13.26	-3.45	----	-0.18	-0.01	0.17
2067	16.73	13.26	-3.47	----	-0.19	-0.01	0.18
2068	16.75	13.26	-3.49	----	-0.19	-0.01	0.18
2069	16.78	13.26	-3.52	----	-0.19	-0.01	0.18
2070	16.81	13.26	-3.54	----	-0.20	-0.01	0.18
2071	16.84	13.27	-3.57	----	-0.20	-0.01	0.19
2072	16.87	13.27	-3.60	----	-0.20	-0.01	0.19
2073	16.90	13.27	-3.63	----	-0.20	-0.01	0.19
2074	16.94	13.27	-3.66	----	-0.21	-0.01	0.19
2075	16.97	13.27	-3.70	----	-0.21	-0.01	0.20
2076	17.00	13.28	-3.73	----	-0.21	-0.01	0.20
2077	17.04	13.28	-3.76	----	-0.21	-0.01	0.20
2078	17.07	13.28	-3.79	----	-0.21	-0.01	0.20
2079	17.11	13.28	-3.83	----	-0.21	-0.01	0.20
2080	17.15	13.29	-3.86	----	-0.22	-0.01	0.20
2081	17.18	13.29	-3.89	----	-0.22	-0.01	0.21
2082	17.22	13.29	-3.93	----	-0.22	-0.01	0.21
2083	17.26	13.29	-3.96	----	-0.22	-0.01	0.21
2084	17.30	13.30	-4.00	----	-0.22	-0.01	0.21
2085	17.33	13.30	-4.04	----	-0.22	-0.01	0.21
2086	17.37	13.30	-4.07	----	-0.22	-0.01	0.21

				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 2011 Trustees Report.
2011-2085	16.17%	14.02%	-2.15%	2036	-0.08%	-0.00%	0.07%

¹ Under present law, the year of exhaustion is 2036.


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Detailed Single Year Tables

Description of Proposed Provision: Beginning with those newly eligible for OASDI benefits in 2024, gradually reduce the 15 percent PIA formula factor in each year so that it reaches 10 percent for those newly eligible in 2053 and later.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Beginning with those newly eligible for OASDI benefits in 2024, gradually reduce the 15 percent PIA formula factor in each year so that it reaches 10 percent for those newly eligible in 2053 and later.