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Detailed Single Year Tables

Description of Proposed Provision:
Progressive price indexing (30th percentile) of PIA formula factors beginning with individuals newly eligible for OASI benefits in 2021: 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 grows by inflation rather than growth in the SSA average wage index. 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

Cost
rate
Income
rate
Annual
balance
201213.8312.89-0.93
340
0.000.000.00
201313.9512.83-1.12
329
0.000.000.00
201413.9812.93-1.05
315
0.000.000.00
201513.9712.95-1.01
302
0.000.000.00
201613.9412.98-0.96
290
0.000.000.00
201713.9113.01-0.91
277
0.000.000.00
201813.9613.03-0.93
265
0.000.000.00
201914.1313.05-1.08
253
0.000.000.00
202014.3713.07-1.30
240
0.000.000.00
202114.6513.11-1.55
227
0.000.000.00
202214.9713.13-1.84
212
0.000.000.00
202315.2813.14-2.14
197
-0.010.000.01
202415.5813.16-2.42
181
-0.020.000.02
202515.8513.18-2.68
165
-0.030.000.03
202616.1113.19-2.92
148
-0.040.000.04
202716.3513.21-3.14
130
-0.060.000.06
202816.5513.22-3.33
112
-0.080.000.08
202916.7213.23-3.49
92
-0.11-0.010.10
203016.8713.24-3.62
73
-0.14-0.010.13
203116.9713.25-3.72
52
-0.17-0.010.16
203217.0413.25-3.79
31
-0.21-0.010.20
203317.0813.26-3.82
10
-0.25-0.010.24
203417.0913.26-3.83
----
-0.29-0.020.28
203517.0713.26-3.81
----
-0.34-0.020.32
203617.0413.26-3.78
----
-0.38-0.020.36
203717.0013.26-3.74
----
-0.43-0.020.41
203816.9413.26-3.68
----
-0.49-0.030.46
203916.8513.25-3.60
----
-0.54-0.030.51
204016.7613.25-3.51
----
-0.59-0.030.56
204116.6713.24-3.42
----
-0.65-0.040.62
204216.5713.24-3.33
----
-0.71-0.040.67
204316.4713.23-3.24
----
-0.77-0.040.73
204416.3713.23-3.14
----
-0.84-0.050.79
204516.2813.22-3.06
----
-0.91-0.050.85
204616.1913.22-2.97
----
-0.97-0.060.92
204716.0913.22-2.88
----
-1.04-0.060.98
204816.0013.21-2.79
----
-1.11-0.061.05
204915.9113.21-2.70
----
-1.19-0.071.12
205015.8213.20-2.62
----
-1.26-0.071.19
205115.7413.20-2.54
----
-1.33-0.081.26
205215.6613.19-2.47
----
-1.40-0.081.32
205315.5913.19-2.40
----
-1.48-0.081.39
205415.5313.19-2.34
----
-1.55-0.091.46
205515.4713.18-2.28
----
-1.63-0.091.53
205615.4113.18-2.23
----
-1.70-0.101.60
205715.3513.18-2.17
----
-1.77-0.101.67
205815.2913.18-2.12
----
-1.84-0.111.74
205915.2313.17-2.06
----
-1.91-0.111.80
206015.1713.17-2.00
----
-1.98-0.111.87
206115.1113.17-1.94
----
-2.05-0.121.93
206215.0513.16-1.89
----
-2.12-0.122.00
206314.9913.16-1.83
----
-2.18-0.122.06
206414.9413.16-1.78
----
-2.25-0.132.12
206514.8913.16-1.73
----
-2.31-0.132.18
206614.8413.15-1.69
----
-2.37-0.142.24
206714.8013.15-1.65
----
-2.44-0.142.30
206814.7613.15-1.61
----
-2.50-0.142.36
206914.7313.15-1.58
----
-2.57-0.152.42
207014.6913.15-1.55
----
-2.63-0.152.48
207114.6613.14-1.51
----
-2.70-0.152.54
207214.6213.14-1.48
----
-2.76-0.162.60
207314.5813.14-1.44
----
-2.82-0.162.66
207414.5513.14-1.41
----
-2.89-0.172.72
207514.5113.14-1.38
----
-2.95-0.172.78
207614.4813.13-1.34
----
-3.01-0.172.84
207714.4413.13-1.31
----
-3.07-0.182.89
207814.4113.13-1.28
----
-3.13-0.182.95
207914.3813.13-1.25
----
-3.19-0.183.01
208014.3513.13-1.22
----
-3.26-0.193.07
208114.3213.13-1.20
----
-3.32-0.193.13
208214.3013.13-1.17
----
-3.38-0.193.18
208314.2713.12-1.15
----
-3.44-0.203.24
208414.2513.12-1.13
----
-3.50-0.203.30
208514.2313.12-1.11
----
-3.57-0.213.36
208614.2113.12-1.09
----
-3.63-0.213.42
208714.1813.12-1.06
----
-3.69-0.213.48



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2012 Trustees Report.
2012-2086 15.56% 13.96% -1.60%
2033
-1.13% -0.06% 1.06%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified February 20, 2013