Description of Proposed Provision:
B3.11: Increase the first PIA factor from 90 percent to 93 percent for all beneficiaries eligible as of January 2019 and for those newly eligible for benefits after 2018.
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 | -0.24 | -0.26 | -8% | -6% |