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Detailed Single Year Tables

Description of Proposed Provision:
B3.16: For retired worker and disabled worker beneficiaries becoming initially eligible in January 2023 or later, phase in a new benefit formula (from 2023 to 2032). Replace the existing two primary insurance amount (PIA) bend points with three new bend points as follows: (1) 25% AWI/12 from 2 years prior to initial eligibility; (2) 100% AWI/12 from 2 years prior to initial eligibility; and (3) 125% AWI/12 from 2 years prior to initial eligibility. The new PIA factors are 95%, 27.5%, 5% and 2%. During the phase in, those becoming newly eligible for benefits will receive an increasing portion of their benefits based on the new formula, reaching 100% of the new formula in 2032.

 

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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.09-1.93
183
0.000.000.00
202515.2813.11-2.17
166
-0.010.000.01
202615.4613.13-2.33
149
-0.010.000.01
202715.6213.14-2.48
132
-0.020.000.02
202815.7713.15-2.62
116
-0.040.000.04
202915.9013.17-2.74
99
-0.060.000.06
203016.0113.18-2.83
82
-0.090.000.09
203116.0913.18-2.91
65
-0.13-0.010.12
203216.1513.19-2.96
48
-0.18-0.010.17
203316.1813.19-2.99
31
-0.23-0.010.21
203416.1813.20-2.98
13
-0.28-0.020.27
203516.1513.20-2.96
----
-0.34-0.020.32
203616.1513.20-2.95
----
-0.41-0.020.38
203716.1313.20-2.92
----
-0.47-0.030.45
203816.0713.20-2.87
----
-0.54-0.030.51
203916.0013.20-2.81
----
-0.61-0.030.57
204015.9213.19-2.73
----
-0.67-0.040.63
204115.8313.19-2.64
----
-0.73-0.040.69
204215.7413.19-2.56
----
-0.79-0.040.75
204315.6513.18-2.47
----
-0.85-0.050.80
204415.5713.18-2.39
----
-0.90-0.050.85
204515.5013.18-2.32
----
-0.95-0.050.90
204615.4213.17-2.25
----
-1.00-0.060.95
204715.3513.17-2.18
----
-1.05-0.060.99
204815.2913.17-2.12
----
-1.09-0.061.03
204915.2313.17-2.07
----
-1.14-0.061.07
205015.1813.17-2.02
----
-1.18-0.071.11
205115.1413.16-1.98
----
-1.22-0.071.15
205215.1213.16-1.95
----
-1.25-0.071.18
205315.1113.16-1.94
----
-1.29-0.071.22
205415.1013.17-1.94
----
-1.32-0.071.25
205515.1113.17-1.94
----
-1.35-0.081.28
205615.1313.17-1.96
----
-1.38-0.081.30
205715.1513.17-1.98
----
-1.41-0.081.33
205815.1813.17-2.00
----
-1.43-0.081.35
205915.2113.18-2.03
----
-1.45-0.081.37
206015.2413.18-2.06
----
-1.47-0.081.39
206115.2713.18-2.09
----
-1.49-0.081.40
206215.3113.18-2.12
----
-1.50-0.091.41
206315.3513.19-2.16
----
-1.51-0.091.42
206415.3813.19-2.19
----
-1.52-0.091.43
206515.4213.19-2.23
----
-1.53-0.091.44
206615.4713.20-2.27
----
-1.54-0.091.45
206715.5113.20-2.31
----
-1.55-0.091.46
206815.5613.20-2.36
----
-1.56-0.091.47
206915.6013.20-2.40
----
-1.56-0.091.47
207015.6513.21-2.44
----
-1.57-0.091.48
207115.6913.21-2.48
----
-1.58-0.091.48
207215.7213.21-2.51
----
-1.58-0.091.49
207315.7613.21-2.54
----
-1.58-0.091.49
207415.7813.22-2.56
----
-1.59-0.091.50
207515.8013.22-2.58
----
-1.59-0.091.50
207615.8113.22-2.59
----
-1.59-0.091.50
207715.8213.22-2.60
----
-1.59-0.091.50
207815.8113.22-2.59
----
-1.59-0.091.50
207915.8113.22-2.59
----
-1.59-0.091.50
208015.8113.22-2.59
----
-1.59-0.091.50
208115.8113.22-2.59
----
-1.59-0.091.50
208215.8113.22-2.59
----
-1.59-0.091.50
208315.8213.22-2.60
----
-1.60-0.091.50
208415.8413.22-2.62
----
-1.60-0.091.51
208515.8713.22-2.64
----
-1.60-0.091.51
208615.9013.23-2.67
----
-1.61-0.091.51
208715.9313.23-2.71
----
-1.61-0.091.52
208815.9713.23-2.74
----
-1.61-0.091.52
208916.0113.23-2.78
----
-1.62-0.091.52
209016.0513.24-2.82
----
-1.62-0.091.53
209116.1013.24-2.86
----
-1.63-0.091.53



 

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 2016 Trustees Report.
2016-2090 15.60% 13.79% -1.81%
2034
-0.90% -0.05% 0.85%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified February 21, 2017