Detailed Single Year Tables

Description of Proposed Provision:
Progressive indexing (30th percentile) of PIA formula factors beginning with individuals newly eligible for OASI benefits in 2014, continuing through 2023, and then resuming in 2062: 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 formula factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum is reduced by 1.2 percent per year as compared to current law (for the years that progressive indexing applies). Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired worker beneficiary status.

			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	13.32	12.97	-0.35	321	-0.01	0.00	0.01
2017	13.45	13.00	-0.45	314	-0.02	0.00	0.02
2018	13.59	13.03	-0.56	306	-0.03	0.00	0.03
2019	13.84	13.04	-0.80	297	-0.04	0.00	0.04
2020	14.13	13.06	-1.07	286	-0.06	0.00	0.06
2021	14.43	13.08	-1.35	275	-0.09	0.00	0.09
2022	14.71	13.09	-1.61	262	-0.12	-0.01	0.12
2023	14.97	13.11	-1.86	250	-0.16	-0.01	0.15
2024	15.21	13.12	-2.09	236	-0.20	-0.01	0.18
2025	15.44	13.14	-2.30	222	-0.24	-0.01	0.22
2026	15.65	13.15	-2.50	208	-0.28	-0.02	0.26
2027	15.83	13.16	-2.67	193	-0.32	-0.02	0.30
2028	15.98	13.17	-2.81	177	-0.37	-0.02	0.35
2029	16.11	13.18	-2.93	161	-0.41	-0.02	0.39
2030	16.21	13.19	-3.02	144	-0.45	-0.02	0.42
2031	16.27	13.19	-3.08	127	-0.49	-0.03	0.46
2032	16.33	13.20	-3.13	110	-0.53	-0.03	0.50
2033	16.37	13.20	-3.17	92	-0.56	-0.03	0.53
2034	16.39	13.21	-3.18	74	-0.59	-0.03	0.56
2035	16.39	13.21	-3.18	56	-0.62	-0.03	0.59
2036	16.38	13.21	-3.17	37	-0.65	-0.04	0.62
2037	16.36	13.21	-3.15	19	-0.68	-0.04	0.64
2038	16.31	13.21	-3.10	0	-0.71	-0.04	0.67
2039	16.26	13.21	-3.05	----	-0.73	-0.04	0.69
2040	16.20	13.21	-3.00	----	-0.75	-0.04	0.71
2041	16.14	13.20	-2.94	----	-0.77	-0.04	0.73
2042	16.08	13.20	-2.88	----	-0.79	-0.04	0.74
2043	16.03	13.20	-2.83	----	-0.81	-0.05	0.76
2044	15.99	13.20	-2.79	----	-0.82	-0.05	0.77
2045	15.95	13.20	-2.75	----	-0.83	-0.05	0.79
2046	15.91	13.20	-2.72	----	-0.84	-0.05	0.80
2047	15.89	13.20	-2.69	----	-0.85	-0.05	0.81
2048	15.86	13.20	-2.66	----	-0.86	-0.05	0.81
2049	15.83	13.20	-2.64	----	-0.87	-0.05	0.82
2050	15.82	13.19	-2.62	----	-0.87	-0.05	0.82
2051	15.81	13.20	-2.61	----	-0.87	-0.05	0.82
2052	15.81	13.20	-2.61	----	-0.88	-0.05	0.83
2053	15.81	13.20	-2.61	----	-0.88	-0.05	0.83
2054	15.82	13.20	-2.62	----	-0.88	-0.05	0.83
2055	15.84	13.20	-2.64	----	-0.88	-0.05	0.83
2056	15.86	13.20	-2.66	----	-0.88	-0.05	0.83
2057	15.88	13.20	-2.68	----	-0.88	-0.05	0.83
2058	15.90	13.21	-2.69	----	-0.88	-0.05	0.83
2059	15.91	13.21	-2.70	----	-0.88	-0.05	0.83
2060	15.92	13.21	-2.71	----	-0.88	-0.05	0.83
2061	15.93	13.21	-2.72	----	-0.88	-0.05	0.83
2062	15.94	13.21	-2.73	----	-0.88	-0.05	0.83
2063	15.95	13.21	-2.74	----	-0.88	-0.05	0.83
2064	15.96	13.21	-2.75	----	-0.89	-0.05	0.84
2065	15.98	13.21	-2.76	----	-0.89	-0.05	0.84
2066	15.99	13.22	-2.78	----	-0.90	-0.05	0.85
2067	16.01	13.22	-2.79	----	-0.91	-0.05	0.86
2068	16.02	13.22	-2.80	----	-0.92	-0.05	0.87
2069	16.03	13.22	-2.81	----	-0.94	-0.05	0.89
2070	16.04	13.22	-2.82	----	-0.96	-0.06	0.91
2071	16.05	13.22	-2.83	----	-0.99	-0.06	0.93
2072	16.05	13.22	-2.83	----	-1.02	-0.06	0.96
2073	16.05	13.22	-2.83	----	-1.05	-0.06	0.99
2074	16.06	13.22	-2.83	----	-1.09	-0.06	1.02
2075	16.05	13.22	-2.83	----	-1.13	-0.06	1.06
2076	16.04	13.22	-2.82	----	-1.17	-0.07	1.10
2077	16.03	13.22	-2.81	----	-1.22	-0.07	1.15
2078	16.02	13.22	-2.80	----	-1.27	-0.07	1.19
2079	16.01	13.22	-2.79	----	-1.32	-0.08	1.24
2080	15.99	13.22	-2.77	----	-1.37	-0.08	1.29
2081	15.97	13.22	-2.75	----	-1.43	-0.08	1.35
2082	15.95	13.22	-2.73	----	-1.49	-0.09	1.41
2083	15.92	13.22	-2.71	----	-1.55	-0.09	1.46
2084	15.90	13.22	-2.68	----	-1.62	-0.09	1.53
2085	15.87	13.21	-2.66	----	-1.69	-0.10	1.59
2086	15.84	13.21	-2.63	----	-1.75	-0.10	1.65

				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	15.60%	13.99%	-1.62%	2038	-0.64%	-0.04%	0.61%

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


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates