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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 2015, continuing through 2052, and resuming in 2073: 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 1.12 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

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
201613.9312.98-0.95
290
0.000.000.00
201713.9113.01-0.90
278
-0.010.000.01
201813.9513.03-0.91
266
-0.010.000.01
201914.1113.05-1.06
254
-0.030.000.02
202014.3313.07-1.26
241
-0.040.000.04
202114.5913.10-1.49
228
-0.060.000.06
202214.8913.12-1.76
215
-0.080.000.08
202315.1813.14-2.04
200
-0.11-0.010.11
202415.4513.15-2.29
185
-0.15-0.010.14
202515.7013.17-2.53
169
-0.18-0.010.17
202615.9313.18-2.75
153
-0.22-0.010.21
202716.1513.20-2.95
136
-0.27-0.010.25
202816.3213.21-3.12
119
-0.31-0.020.30
202916.4713.22-3.25
101
-0.36-0.020.34
203016.5913.23-3.37
82
-0.41-0.020.39
203116.6813.23-3.45
63
-0.47-0.030.44
203216.7313.24-3.49
44
-0.52-0.030.49
203316.7513.24-3.51
24
-0.58-0.030.55
203416.7413.24-3.50
4
-0.64-0.040.60
203516.7113.24-3.47
----
-0.70-0.040.66
203616.6713.24-3.43
----
-0.76-0.040.71
203716.6113.24-3.38
----
-0.82-0.050.77
203816.5413.23-3.31
----
-0.88-0.050.83
203916.4513.23-3.22
----
-0.94-0.050.89
204016.3513.23-3.13
----
-1.01-0.060.95
204116.2513.22-3.03
----
-1.07-0.061.01
204216.1413.22-2.93
----
-1.13-0.061.07
204316.0413.21-2.83
----
-1.20-0.071.13
204415.9413.21-2.74
----
-1.27-0.071.20
204515.8513.20-2.65
----
-1.34-0.081.26
204615.7613.20-2.56
----
-1.40-0.081.32
204715.6613.19-2.47
----
-1.47-0.081.39
204815.5713.19-2.39
----
-1.54-0.091.45
204915.4913.18-2.30
----
-1.61-0.091.52
205015.4013.18-2.23
----
-1.68-0.101.58
205115.3313.17-2.15
----
-1.74-0.101.64
205215.2613.17-2.09
----
-1.81-0.101.71
205315.1913.17-2.03
----
-1.88-0.111.77
205415.1313.17-1.97
----
-1.95-0.111.83
205515.0813.16-1.92
----
-2.01-0.111.90
205615.0313.16-1.87
----
-2.08-0.121.96
205714.9813.16-1.82
----
-2.14-0.122.02
205814.9413.16-1.78
----
-2.20-0.132.07
205914.8913.15-1.74
----
-2.26-0.132.13
206014.8513.15-1.70
----
-2.31-0.132.18
206114.8113.15-1.66
----
-2.36-0.132.22
206214.7713.15-1.62
----
-2.40-0.142.26
206314.7313.15-1.59
----
-2.44-0.142.30
206414.7113.15-1.56
----
-2.48-0.142.34
206514.6813.14-1.54
----
-2.52-0.142.37
206614.6713.14-1.52
----
-2.55-0.152.40
206714.6613.14-1.51
----
-2.58-0.152.44
206814.6513.14-1.51
----
-2.62-0.152.47
206914.6513.14-1.51
----
-2.64-0.152.49
207014.6513.14-1.51
----
-2.67-0.152.52
207114.6613.14-1.51
----
-2.70-0.152.54
207214.6613.14-1.51
----
-2.72-0.162.56
207314.6613.14-1.52
----
-2.74-0.162.58
207414.6713.15-1.53
----
-2.76-0.162.60
207514.6813.15-1.53
----
-2.78-0.162.62
207614.6913.15-1.54
----
-2.80-0.162.64
207714.6913.15-1.55
----
-2.82-0.162.65
207814.7013.15-1.56
----
-2.84-0.162.67
207914.7113.15-1.57
----
-2.86-0.162.69
208014.7213.15-1.57
----
-2.88-0.172.71
208114.7313.15-1.58
----
-2.91-0.172.74
208214.7413.15-1.59
----
-2.93-0.172.76
208314.7513.15-1.60
----
-2.96-0.172.79
208414.7613.15-1.61
----
-2.99-0.172.82
208514.7713.15-1.61
----
-3.03-0.172.85
208614.7713.15-1.62
----
-3.06-0.182.89
208714.7713.15-1.62
----
-3.10-0.182.92



 

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 15.39% 13.95% -1.45%
2034
-1.29% -0.07% 1.22%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified February 20, 2013