Description of Proposed Provision:
B1.1: Price indexing of PIA factors beginning with those newly eligible for OASDI benefits in 2024: Reduce factors so that initial benefits grow by inflation rather than by the SSA average wage index.
Estimates based on the intermediate assumptions of the 2017 Trustees Report
Summary Measures | |||||||
---|---|---|---|---|---|---|---|
Current law [percent of payroll] |
Change from current 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 |
||
-2.83 | -4.48 | 2.65 | 7.68 | 94% | 171% |