| Number |
Table and graph selection |
| B1.1 |
Price indexing of PIA factors beginning with those newly eligible for OASDI benefits
in 2022: Reduce factors so that initial benefits grow by inflation rather than by
the SSA average wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.2 |
Progressive price indexing (30th percentile) of PIA factors beginning with individuals
newly eligible for OASDI benefits in 2022: 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 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 the growth in the SSA average wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.3 |
Progressive price indexing (40th percentile) of PIA factors beginning with individuals
newly eligible for OASDI benefits in 2022: Create a new bend point at the 40th percentile
of the AIME distribution of newly retired workers. Maintain current-law benefits for earners
at the 40th percentile and below. Reduce the 32 and 15 percent 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.4 |
Progressive price indexing (50th percentile) of PIA factors beginning with individuals
newly eligible for OASDI benefits in 2022: Create a new bend point at the 50th percentile
of the AIME distribution of newly retired workers. Maintain current-law benefits for earners
at the 50th percentile and below. Reduce the 32 and 15 percent factors above the 50th 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.5 |
Progressive price indexing (60th percentile) of PIA factors beginning with individuals
newly eligible for OASDI benefits in 2022: Create a new bend point at the 60th percentile
of the AIME distribution of newly retired workers. Maintain current-law benefits for earners
at the 60th percentile and below. Reduce the 32 and 15 percent factors above the 60th 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.6 (2019) |
Progressive price indexing (30th percentile) of PIA factors beginning with individuals
newly eligible for OASI benefits in 2019: 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 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 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.6 (2024) |
Progressive price indexing (30th percentile) of PIA factors beginning with individuals
newly eligible for OASI benefits in 2024: 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 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 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.7 |
Progressive price indexing (40th percentile) of PIA factors for individuals
newly eligible for OASI benefits in 2023 through 2060: Create a new bend point
at the 40th percentile of the AIME distribution of newly retired workers. Maintain
current-law benefits for earners at the 40th percentile and below. Reduce the 32
and 15 percent 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B1.8 |
Progressive price indexing (50th percentile) of PIA factors for individuals newly eligible
for OASI benefits in 2020 through 2059: Create a new bend point at the 50th percentile of
the AIME distribution of newly retired workers. Maintain current-law benefits for earners at
the 50th percentile and below. Reduce the 32 and 15 percent factors above the 50th 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B2.1 |
Beginning with those newly eligible for OASI benefits in 2025, multiply the PIA factors by
the ratio of life expectancy at 67 for 2020 to the life expectancy at age 67 for the 4th
year prior to the year of benefit eligibility. Unisex life expectancies, based on period
life tables as computed by SSA's Office of the Chief Actuary, are used to determine the
ratio. 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memoranda containing this or a similar provision:
|
| B3.1 |
Beginning with those newly eligible for OASDI benefits in 2016, multiply the 32 and 15
percent PIA factors each year by 0.987. Stop reductions after 2046, when the factors
reach 21 percent and 10 percent, respectively.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.2 |
Beginning with those newly eligible for OASI benefits in 2023, multiply the 90 and 32
percent PIA factors each year by 0.9925 and 0.982, respectively. Stop reductions after
2060. Beginning with those newly eligible for OASI benefits in 2018, multiply the 15
factor by 0.982. Stop reduction of the 15 factor after 2055. 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. Child beneficiaries and spouses with a child in care under the OASI
program are not affected by this proposal.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.3 |
Beginning with those newly eligible for OASDI benefits in 2016, use a modified primary
insurance amount (PIA) formula. The modified formula: (1) increases the first bend point
to the equivalent of $800 in 2009; (2) places a new bend point 75 percent of the way between
the reset first bend point and the current-law second bend point; (3) lowers the PIA factor
between the new bend point and the upper bend point from 32 percent to 20 percent; and (4)
lowers the factor above the upper bend point from 15 percent to 10 percent.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.4 |
Beginning with those newly eligible for OASDI benefits in 2019, multiply all PIA factors each
year by 0.991. Stop reductions after 2047. 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.5 |
Progressive indexing (30th percentile) of PIA factors beginning with individuals newly
eligible for OASI benefits in 2018, continuing through 2055, and resuming in 2076: 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 factors above the 30th percentile such that the initial benefit for a worker with
AIME equal to the taxable maximum is reduced by 1.17 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.6 |
Progressive indexing (30th percentile) of PIA factors beginning with individuals newly
eligible for OASI benefits in 2018, continuing through 2067: 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 factors
above the 30th percentile such that the initial benefit for a worker with AIME equal to the
taxable maximum is reduced by 1.17 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.7 |
Progressive indexing (30th percentile) of PIA factors beginning with individuals newly
eligible for OASI benefits in 2018, continuing through 2027, and resuming in 2066:
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 factors above the 30th percentile such that the initial benefit for
a worker with AIME equal to the taxable maximum is reduced by 1.17 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.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.8 |
Beginning with those newly eligible for OASDI benefits in 2022, create a new bend point at
the 50th percentile of the AIME distribution of newly retired workers and gradually reduce
all PIA factors except for the 90 percent factor. By 2055: a) the 32 percent PIA factor
below the new bend point reduces to 30 percent; b) the 32 percent PIA factor above the new
bend point reduces to 10 percent; and c) the 15 percent PIA factor reduces to 5 percent.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.9 |
Beginning with those newly eligible for OASDI benefits in 2028, gradually reduce the 15
percent PIA factor in each year so that it reaches 10 percent for those newly eligible
in 2057 and later.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.10 |
Beginning with those newly eligible for OASDI benefits in 2022, gradually increase the
first PIA bend point in each year so that it is 15 percent higher for those newly eligible
in 2036 and later.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B3.11 |
Increase the first PIA factor from 90 percent to 93 percent for all beneficiaries
eligible as of January 2017 and for those newly eligible for benefits after 2017.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B4.1 |
Increase the number of years used to calculate benefits for retirees and survivors
(but not for disabled workers) from 35 to 38, phased in over the years 2016-2020.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B4.2 |
Increase the number of years used to calculate benefits for retirees and survivors
(but not for disabled workers) from 35 to 40, phased in over the years 2016-2024.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memoranda containing this or a similar provision:
|
| B4.3 |
For the OASI and DI computation of the PIA, gradually reduce the maximum number
of drop-out years from 5 to 0, phased in over the years 2017-2025.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B5.1 |
Increase the PIA to a level such that a worker with 30 years of earnings at
the minimum wage level receives an adjusted PIA equal to 120 percent of the
Federal poverty level for an aged individual. This provision takes full
effect for all newly eligible OASDI workers in 2033, and is phased in for
new eligibles in 2024 through 2032. The percentage increase in PIA is lowered
proportionately for those with fewer than 30 years of earnings, down to no
enhancement for workers with 20 or fewer years of earnings. (Year-of-work
requirements are "scaled" for disabled workers based on their years of potential
work from age 22 to benefit eligibility). The benefit enhancement percentage is
reduced proportionately for workers with higher average indexed monthly earnings
(AIME), down to no enhancement for those with AIME at least twice that of a
35-year steady minimum wage earner.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B5.2 |
Beginning for those newly eligible in 2016, reconfigure the special minimum benefit:
(a) A year of coverage is defined as a year in which 4 quarters of coverage are earned.
(b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of
the monthly poverty level (about $1,216 in 2014). For those with under 30 years of
coverage, the PIA per year of coverage over 10 years is $1,216/20 = $60.80. (c) Index
the initial PIA per year of coverage by wage growth for successive cohorts.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B5.3 |
Beginning for those newly eligible in 2016, reconfigure the special minimum benefit:
(a) A year of coverage is defined to be either a year in which 4 quarters of coverage
are earned or a child is in care. Childcare years are granted to parents who have a
child under 5, with a limit of 8 such years. (b) At implementation, set the PIA for
30 years of coverage equal to 125 percent of the monthly poverty level (about $1,216
in 2014). For those with under 30 years of coverage, the PIA per year of coverage over
10 years is $1,216/20 = $60.80. (c) Index the initial PIA per year of coverage by wage
growth for successive cohorts.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B5.4 |
Beginning for those newly eligible in 2022, reconfigure the special minimum benefit:
(a) A year of coverage is defined as a year in which 4 quarters of coverage are earned.
(b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of
the monthly poverty level (about $1,216 in 2014). For those with under 30 years of
coverage, the PIA per year of coverage over 10 years is $1,216/20 = $60.80. (c) From
2014 to the year of implementation, 2022, index the PIA per year of coverage using the
chain-CPI index. Then, for later years, index the PIA per year of coverage by wage
growth for successive cohorts. (d) Scale work requirements for disabled workers, based
on the number of years of non-disabled potential work.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B5.5 |
Beginning for those newly eligible in 2017, reconfigure the special minimum benefit:
(a) A year of coverage is defined as a year in which either 20 percent of the "old
law maximum" is earned or a child is in care. Childcare years are granted to parents
who have a child under 6, with a limit of 8 such years. (b) At implementation, set the
PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level
(about $1,258 in 2014). For those with under 30 years of coverage, the PIA per year
of coverage over 19 years is $1,258/11 = $114.40. (c) Index the initial PIA per year
of coverage by wage growth for successive cohorts. (d) Scale work requirements for
disabled workers, based on the number of years of non-disabled potential work.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B5.6 |
Beginning for those newly eligible in 2016, reconfigure the special minimum benefit:
(a) A year of coverage is defined to be either a year in which 4 quarters of coverage
are earned or a child is in care. Childcare years are granted to parents who have a
child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for
30 years of coverage equal to 100 percent of the monthly poverty level (about $980.80
in 2015). For those with under 30 years of coverage, the PIA per year of coverage over
10 years is $980.80/20 = $49.04. (c) From 2015 to the year of implementation, 2016,
index the PIA per year of coverage using the CPI index. Then, for later years, index
he PIA per year of coverage by wage growth for successive cohorts. (d) Scale work
requirements for disabled workers, based on the number of years of non-disabled potential
work.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B5.7 |
Beginning for those newly eligible in 2018, increase the special minimum benefit to
100 of poverty by: (a) The number of years of work (YOWs) is determined as total
quarters of coverage divided by 4, ignoring any fraction. Up to 5 additional years
with a child under 6. (b) Set the PIA for 30+ YOWs equal to 100 percent of the monthly
HHS poverty level for the year prior to eligibility. For workers between 11 and 29 YOWs,
reduce the special minimum by 3 1/3 percentage points per YOW so that at 29 YOWs the
minimum would be 96 2/3% of poverty, ..., down to 11 YOWs at 36 2/3% of poverty. No
minimum for 10 or fewer YOWs.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B6.1 |
Provide a 5 percent increase to the monthly benefit amount (MBA) of any beneficiary who is 85 or older
at the beginning of 2016 or who reaches their 85th birthday after the beginning of 2016.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memoranda containing this or a similar provision:
|
| B6.2 |
Provide the same dollar amount increase to the monthly benefit amount (MBA) of any beneficiary who
is 85 or older at the beginning of 2016 or who reaches their 85th birthday after the beginning of
2016. The dollar amount of increase equals 5 percent of the average retired-worker MBA in the prior
year.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B6.3 |
Provide an increase in the benefit level of any beneficiary who is 85 or older at the
beginning of 2017 or who reaches their 85th birthday after the beginning of 2017.
Increase the beneficiary's PIA based on an amount equal to the average retired-worker
PIA at the end of 2016, 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 2017 and by 5 percent of this amount at age 85 for others, phased in at 1 percent
per year for ages 81-85.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B6.4 |
Starting in 2016, provide a 5 percent uniform benefit increase 24 years after initial
benefit eligibility. Phase in the benefit increase at 1 percent per year from the 20th
through 24th years after eligibility. For disabled workers, the eligibility age is the
initial entitlement year to the benefit. The benefit increase is equal to 5 percent of
the PIA of a worker assumed to have career-average earnings equal to SSA's average wage
index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B6.5 |
Starting in 2018, provide a 5 percent uniform PIA increase 20 years after benefit
eligibility. Phase in the PIA increase at 1 percent per year from the 16th through
20th years after eligibility. The full PIA increase is equal to 5 percent of the
PIA of a worker assumed to have career-average earnings equal to the SSA average
wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B6.6 |
Starting in 2022, provide a uniform PIA increase 23 years after benefit eligibility.
Phase in the PIA increase at 0.5 percent per year from the 14th through the 23rd
years after eligibility. The full PIA increase is equal to 5 percent of the average
retired worker PIA in December of the 12th year after benefit eligibility. A similar
additional PIA increase applies 42 years after benefit eligibility (phased in from
the 33rd through the 42nd years after eligibility). Auxiliary beneficiaries receive
benefit enhancement based on PIA of governing worker.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B7.1 |
Reduce benefits by 3 percent for those newly eligible for benefits in 2016 and later.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B7.2 |
Reduce benefits by 5 percent for those newly eligible for benefits in 2016 and later.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B7.3 |
Give credit to parents with a child under 6 for earnings for up to five years.
The earnings credited for a childcare year equal one half of the SSA average
wage index (about $23,145 in 2014). The credits are available for all past
years to newly eligible retired-worker and disabled-worker beneficiaries
starting in 2016. The 5 years are chosen to yield the largest increase in AIME.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B7.4 |
Increase benefits by 2 percent for all beneficiaries as of the beginning of
2016 and for those newly eligible for benefits after the beginning of 2016.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B7.5 |
Increase benefits by 5 percent for all beneficiaries as of the beginning of 2016
and for those newly eligible for benefits after the beginning of 2016.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B7.6 |
Increase benefits by 20 percent for all beneficiaries as of the beginning of 2016
and for those newly eligible for benefits after the beginning of 2016.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
| B7.7 |
Reduce individual Social Security benefits if modified adjusted gross income, or
MAGI (AGI less taxable Social Security benefits plus nontaxable interest income)
is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly.
This provision is effective for individuals newly eligible for benefits in 2020 or
later. The percentage reduction increases linearly up to 50 percent for single/joint
filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years
after 2020, based on changes in the SSA average wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:
|
|
Above provisions
Summary measures
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