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Summary Measures and Graphs
Level of Monthly Benefits

Description of Proposed Provision:
Provide an increase in the benefit level of any beneficiary who is 85 or older at the beginning of 2015 or who reaches their 85th birthday after the beginning of 2015. Increase the beneficiary’s PIA based on an amount equal to the average retired-worker PIA at the end of 2014, or at the end of the year age 80 if later. Increase the beneficiary’s PIA by 5 percent of this amount for those older than 85 at the beginning of 2014 and by 5 percent of this amount at age 85 for others, phased in at 1 percent per year for ages 81-85.

Estimates based on the intermediate assumptions of the 2013 Trustees Report

Summary Measures
[As a percentage of taxable payroll]
Present Law Change from present law Results with this provision
Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year
-2.72 -4.77 -0.13 -0.19 -2.85 -4.96


graph of OASDI cost rates and income rates by year, under present law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under present law and provision. click on graph to view underlying data.
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Last reviewed or modified September 27, 2013