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Detailed Single Year Tables
Level of Monthly Benefits

Description of Proposed Provision:
Progressive price indexing (40th percentile) of PIA formula factors for individuals newly eligible for OASI benefits in 2020 through 2057: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefit credit for earners at the 40th percentile and below. Reduce the 32 and 15 formula factors above the 40th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.

 

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
202114.6513.11-1.54
227
0.000.000.00
202214.9613.13-1.83
213
-0.010.000.01
202315.2713.14-2.13
197
-0.020.000.02
202415.5613.16-2.40
182
-0.030.000.03
202515.8413.18-2.66
165
-0.050.000.04
202616.0913.19-2.89
148
-0.070.000.06
202716.3213.21-3.12
131
-0.090.000.08
202816.5213.22-3.30
112
-0.12-0.010.11
202916.6913.23-3.46
93
-0.15-0.010.14
203016.8313.24-3.59
74
-0.18-0.010.17
203116.9313.25-3.69
54
-0.21-0.010.20
203217.0013.25-3.75
33
-0.25-0.010.24
203317.0413.26-3.78
11
-0.29-0.020.27
203417.0513.26-3.79
----
-0.33-0.020.31
203517.0413.26-3.78
----
-0.37-0.020.35
203617.0113.26-3.75
----
-0.42-0.020.39
203716.9713.26-3.71
----
-0.46-0.030.44
203816.9113.25-3.66
----
-0.51-0.030.48
203916.8313.25-3.58
----
-0.56-0.030.53
204016.7513.25-3.50
----
-0.61-0.030.57
204116.6613.24-3.42
----
-0.66-0.040.62
204216.5713.24-3.33
----
-0.71-0.040.67
204316.4813.23-3.24
----
-0.77-0.040.72
204416.3913.23-3.16
----
-0.82-0.050.78
204516.3113.23-3.08
----
-0.88-0.050.83
204616.2213.22-3.00
----
-0.94-0.050.89
204716.1413.22-2.92
----
-1.00-0.060.94
204816.0613.21-2.84
----
-1.06-0.061.00
204915.9813.21-2.77
----
-1.12-0.061.05
205015.9013.21-2.70
----
-1.18-0.071.11
205115.8313.20-2.63
----
-1.24-0.071.17
205215.7713.20-2.57
----
-1.30-0.071.22
205315.7113.20-2.52
----
-1.36-0.081.28
205415.6613.20-2.47
----
-1.42-0.081.34
205515.6113.19-2.42
----
-1.48-0.081.39
205615.5713.19-2.38
----
-1.54-0.091.45
205715.5313.19-2.34
----
-1.60-0.091.51
205815.4813.19-2.29
----
-1.66-0.091.56
205915.4413.19-2.25
----
-1.71-0.101.61
206015.3913.18-2.21
----
-1.77-0.101.67
206115.3413.18-2.16
----
-1.82-0.101.71
206215.3013.18-2.12
----
-1.87-0.111.76
206315.2613.18-2.08
----
-1.92-0.111.81
206415.2213.17-2.05
----
-1.96-0.111.85
206515.1913.17-2.02
----
-2.01-0.121.89
206615.1713.17-2.00
----
-2.05-0.121.93
206715.1513.17-1.98
----
-2.09-0.121.97
206815.1413.17-1.97
----
-2.12-0.122.00
206915.1313.17-1.96
----
-2.16-0.122.04
207015.1313.17-1.96
----
-2.19-0.132.07
207115.1313.17-1.96
----
-2.23-0.132.10
207215.1213.17-1.95
----
-2.25-0.132.13
207315.1213.17-1.95
----
-2.28-0.132.15
207415.1313.17-1.95
----
-2.31-0.132.18
207515.1313.17-1.96
----
-2.33-0.132.20
207615.1313.17-1.96
----
-2.35-0.142.22
207715.1413.17-1.97
----
-2.37-0.142.24
207815.1513.17-1.98
----
-2.39-0.142.25
207915.1613.17-1.99
----
-2.41-0.142.27
208015.1813.18-2.00
----
-2.42-0.142.29
208115.2013.18-2.02
----
-2.44-0.142.30
208215.2213.18-2.04
----
-2.45-0.142.31
208315.2513.18-2.07
----
-2.47-0.142.33
208415.2813.18-2.09
----
-2.48-0.142.34
208515.3013.18-2.12
----
-2.49-0.142.35
208615.3313.19-2.15
----
-2.50-0.142.36
208715.3613.19-2.17
----
-2.51-0.142.37



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2012 Trustees Report.
2012-2086 15.73% 13.97% -1.76%
2033
-0.96% -0.05% 0.90%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified February 20, 2013