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Detailed Single Year Tables

Description of Proposed Provision:
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.

 

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
201514.1312.82-1.31
308
0.000.000.00
201613.8812.88-1.00
298
0.000.000.00
201713.8912.91-0.98
280
0.000.000.00
201813.9712.94-1.03
264
0.000.000.00
201914.0912.95-1.14
248
0.000.000.00
202014.2312.96-1.26
233
0.000.000.00
202114.3512.98-1.36
219
0.000.000.00
202214.5213.01-1.51
204
0.000.000.00
202314.7213.03-1.69
189
0.000.000.00
202414.9513.06-1.89
173
0.000.000.00
202515.1613.08-2.08
158
-0.010.000.01
202615.3513.10-2.26
142
-0.010.000.01
202715.5413.11-2.43
126
-0.020.000.02
202815.7213.13-2.59
111
-0.030.000.03
202915.8913.14-2.75
95
-0.040.000.04
203016.0313.15-2.88
78
-0.060.000.06
203116.1613.16-3.00
61
-0.090.000.08
203216.2613.17-3.09
43
-0.11-0.010.11
203316.3413.18-3.16
25
-0.14-0.010.13
203416.3813.18-3.20
7
-0.17-0.010.16
203516.4113.19-3.23
----
-0.21-0.010.19
203616.4413.19-3.25
----
-0.24-0.010.23
203716.4413.19-3.24
----
-0.28-0.020.27
203816.4113.19-3.21
----
-0.32-0.020.31
203916.3613.19-3.17
----
-0.37-0.020.35
204016.3013.19-3.11
----
-0.41-0.020.39
204116.2313.19-3.04
----
-0.46-0.020.43
204216.1613.19-2.97
----
-0.51-0.030.48
204316.0813.19-2.90
----
-0.56-0.030.53
204416.0013.18-2.82
----
-0.61-0.030.58
204515.9313.18-2.75
----
-0.67-0.040.63
204615.8513.18-2.67
----
-0.72-0.040.68
204715.7813.17-2.60
----
-0.78-0.040.74
204815.7113.17-2.53
----
-0.84-0.050.80
204915.6413.17-2.47
----
-0.90-0.050.85
205015.5713.17-2.41
----
-0.97-0.050.91
205115.5213.17-2.36
----
-1.03-0.060.97
205215.4813.16-2.31
----
-1.10-0.061.04
205315.4413.16-2.28
----
-1.16-0.061.10
205415.4113.16-2.25
----
-1.23-0.071.16
205515.3913.16-2.23
----
-1.30-0.071.23
205615.3713.16-2.21
----
-1.37-0.081.30
205715.3513.16-2.19
----
-1.44-0.081.36
205815.3413.16-2.17
----
-1.51-0.081.43
205915.3213.16-2.16
----
-1.58-0.091.49
206015.3013.16-2.14
----
-1.65-0.091.56
206115.2913.16-2.13
----
-1.72-0.101.62
206215.2813.16-2.11
----
-1.78-0.101.68
206315.2613.16-2.10
----
-1.85-0.101.74
206415.2513.16-2.09
----
-1.91-0.111.80
206515.2513.16-2.08
----
-1.97-0.111.86
206615.2413.16-2.08
----
-2.03-0.111.92
206715.2413.16-2.08
----
-2.09-0.121.97
206815.2413.16-2.08
----
-2.15-0.122.03
206915.2513.16-2.09
----
-2.20-0.122.08
207015.2513.16-2.09
----
-2.25-0.132.12
207115.2613.16-2.09
----
-2.30-0.132.17
207215.2613.16-2.09
----
-2.34-0.132.21
207315.2513.16-2.09
----
-2.38-0.132.25
207415.2513.16-2.08
----
-2.42-0.132.28
207515.2313.16-2.07
----
-2.45-0.142.31
207615.2213.16-2.05
----
-2.48-0.142.34
207715.2013.16-2.04
----
-2.50-0.142.37
207815.1813.16-2.02
----
-2.53-0.142.39
207915.1613.16-2.00
----
-2.55-0.142.40
208015.1413.16-1.98
----
-2.56-0.142.42
208115.1313.16-1.97
----
-2.58-0.142.44
208215.1313.16-1.97
----
-2.60-0.142.45
208315.1413.16-1.98
----
-2.61-0.152.47
208415.1513.16-1.99
----
-2.63-0.152.48
208515.1713.16-2.01
----
-2.64-0.152.50
208615.1913.16-2.03
----
-2.66-0.152.51
208715.2113.16-2.05
----
-2.67-0.152.52
208815.2413.17-2.08
----
-2.68-0.152.53
208915.2713.17-2.11
----
-2.70-0.152.55
209015.3113.17-2.14
----
-2.71-0.152.56



 

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 2015 Trustees Report.
2015-2089 15.54% 13.81% -1.73%
2034
-1.00% -0.05% 0.95%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015