Skip to content
Social Security Online 		Actuarial Publications
www.socialsecurity.gov Home   FAQs   Contact Us   Search
 
Solvency provisions SSA logo: link to Social Security Online home

Summary Measures and Graphs
Level of Monthly Benefits

Description of Proposed Provision:
B6.6: Starting in 2023, 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 (age 104), phased in from the 33rd through the 42nd years after eligibility. For those past the 14th year of eligibility in 2023 (over age 76 for retirees), phase in the PIA enhancement over 10 years starting in 2023. Auxiliary beneficiaries receive benefit enhancement based on the PIA of the governing worker.

Estimates based on the intermediate assumptions of the 2016 Trustees Report

Summary Measures
Present law
[percent of payroll]		 Change from present law
[percent of payroll]		 Shortfall eliminated
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
-2.66 -4.35 -0.21 -0.30 -8% -7%


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.
 Link to USA.gov: U.S. Government portal Privacy Policy  | Website Policies & Other Important Information  | Site Map
Last reviewed or modified August 30, 2016