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.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2017 | 13.41 | 13.03 | -0.38 | 298 | 0.00 | 0.00 | 0.00 | ||
| 2018 | 13.49 | 12.93 | -0.56 | 287 | 0.00 | 0.00 | 0.00 | ||
| 2019 | 13.70 | 12.95 | -0.75 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.85 | 12.96 | -0.89 | 259 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.02 | 12.99 | -1.03 | 245 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.26 | 13.02 | -1.23 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.54 | 13.05 | -1.50 | 215 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.82 | 13.08 | -1.74 | 199 | -0.00 | -0.00 | 0.00 | ||
| 2025 | 15.09 | 13.10 | -1.99 | 182 | -0.01 | -0.00 | 0.01 | ||
| 2026 | 15.35 | 13.13 | -2.22 | 165 | -0.02 | -0.00 | 0.02 | ||
| 2027 | 15.58 | 13.15 | -2.43 | 148 | -0.03 | -0.00 | 0.03 | ||
| 2028 | 15.80 | 13.17 | -2.63 | 131 | -0.05 | -0.00 | 0.05 | ||
| 2029 | 15.99 | 13.18 | -2.81 | 113 | -0.08 | -0.00 | 0.08 | ||
| 2030 | 16.15 | 13.19 | -2.96 | 96 | -0.12 | -0.00 | 0.11 | ||
| 2031 | 16.29 | 13.20 | -3.09 | 78 | -0.16 | -0.01 | 0.16 | ||
| 2032 | 16.39 | 13.21 | -3.18 | 60 | -0.22 | -0.01 | 0.21 | ||
| 2033 | 16.46 | 13.21 | -3.25 | 41 | -0.28 | -0.01 | 0.27 | ||
| 2034 | 16.50 | 13.22 | -3.28 | 22 | -0.35 | -0.02 | 0.33 | ||
| 2035 | 16.50 | 13.22 | -3.28 | 3 | -0.43 | -0.02 | 0.41 | ||
| 2036 | 16.48 | 13.22 | -3.26 | ---- | -0.51 | -0.02 | 0.49 | ||
| 2037 | 16.42 | 13.22 | -3.20 | ---- | -0.60 | -0.03 | 0.57 | ||
| 2038 | 16.33 | 13.22 | -3.11 | ---- | -0.70 | -0.03 | 0.66 | ||
| 2039 | 16.20 | 13.21 | -2.99 | ---- | -0.80 | -0.04 | 0.76 | ||
| 2040 | 16.06 | 13.20 | -2.86 | ---- | -0.90 | -0.04 | 0.86 | ||
| 2041 | 15.91 | 13.20 | -2.71 | ---- | -1.01 | -0.05 | 0.96 | ||
| 2042 | 15.74 | 13.19 | -2.55 | ---- | -1.12 | -0.05 | 1.07 | ||
| 2043 | 15.56 | 13.18 | -2.38 | ---- | -1.24 | -0.06 | 1.18 | ||
| 2044 | 15.39 | 13.17 | -2.22 | ---- | -1.37 | -0.07 | 1.30 | ||
| 2045 | 15.22 | 13.16 | -2.05 | ---- | -1.50 | -0.07 | 1.43 | ||
| 2046 | 15.05 | 13.16 | -1.89 | ---- | -1.63 | -0.08 | 1.55 | ||
| 2047 | 14.87 | 13.15 | -1.73 | ---- | -1.77 | -0.09 | 1.69 | ||
| 2048 | 14.70 | 13.14 | -1.56 | ---- | -1.92 | -0.09 | 1.82 | ||
| 2049 | 14.53 | 13.13 | -1.39 | ---- | -2.06 | -0.10 | 1.96 | ||
| 2050 | 14.35 | 13.12 | -1.23 | ---- | -2.21 | -0.11 | 2.10 | ||
| 2051 | 14.19 | 13.11 | -1.07 | ---- | -2.37 | -0.12 | 2.25 | ||
| 2052 | 14.03 | 13.11 | -0.93 | ---- | -2.52 | -0.13 | 2.40 | ||
| 2053 | 13.88 | 13.10 | -0.78 | ---- | -2.69 | -0.13 | 2.55 | ||
| 2054 | 13.74 | 13.09 | -0.65 | ---- | -2.85 | -0.14 | 2.71 | ||
| 2055 | 13.61 | 13.09 | -0.52 | ---- | -3.01 | -0.15 | 2.86 | ||
| 2056 | 13.48 | 13.08 | -0.40 | ---- | -3.18 | -0.16 | 3.02 | ||
| 2057 | 13.35 | 13.07 | -0.28 | ---- | -3.35 | -0.17 | 3.18 | ||
| 2058 | 13.23 | 13.07 | -0.16 | ---- | -3.51 | -0.18 | 3.33 | ||
| 2059 | 13.11 | 13.06 | -0.04 | ---- | -3.68 | -0.19 | 3.49 | ||
| 2060 | 12.99 | 13.06 | 0.07 | ---- | -3.84 | -0.20 | 3.65 | ||
| 2061 | 12.87 | 13.05 | 0.18 | ---- | -4.00 | -0.20 | 3.80 | ||
| 2062 | 12.76 | 13.05 | 0.29 | ---- | -4.16 | -0.21 | 3.95 | ||
| 2063 | 12.65 | 13.04 | 0.39 | ---- | -4.32 | -0.22 | 4.10 | ||
| 2064 | 12.54 | 13.03 | 0.50 | ---- | -4.48 | -0.23 | 4.25 | ||
| 2065 | 12.43 | 13.03 | 0.60 | ---- | -4.64 | -0.24 | 4.40 | ||
| 2066 | 12.33 | 13.02 | 0.70 | ---- | -4.79 | -0.25 | 4.55 | ||
| 2067 | 12.22 | 13.02 | 0.80 | ---- | -4.95 | -0.26 | 4.69 | ||
| 2068 | 12.12 | 13.01 | 0.89 | ---- | -5.10 | -0.26 | 4.84 | ||
| 2069 | 12.02 | 13.01 | 0.99 | ---- | -5.25 | -0.27 | 4.98 | ||
| 2070 | 11.92 | 13.00 | 1.08 | ---- | -5.41 | -0.28 | 5.12 | ||
| 2071 | 11.82 | 13.00 | 1.18 | ---- | -5.55 | -0.29 | 5.27 | ||
| 2072 | 11.71 | 12.99 | 1.28 | ---- | -5.70 | -0.30 | 5.40 | ||
| 2073 | 11.61 | 12.99 | 1.38 | ---- | -5.84 | -0.30 | 5.54 | ||
| 2074 | 11.50 | 12.98 | 1.48 | ---- | -5.98 | -0.31 | 5.67 | ||
| 2075 | 11.39 | 12.98 | 1.59 | ---- | -6.12 | -0.32 | 5.80 | ||
| 2076 | 11.27 | 12.97 | 1.70 | ---- | -6.25 | -0.33 | 5.92 | ||
| 2077 | 11.15 | 12.97 | 1.81 | ---- | -6.37 | -0.33 | 6.04 | ||
| 2078 | 11.03 | 12.96 | 1.93 | ---- | -6.49 | -0.34 | 6.15 | ||
| 2079 | 10.91 | 12.95 | 2.04 | ---- | -6.61 | -0.34 | 6.26 | ||
| 2080 | 10.79 | 12.95 | 2.16 | ---- | -6.72 | -0.35 | 6.37 | ||
| 2081 | 10.66 | 12.94 | 2.28 | ---- | -6.84 | -0.36 | 6.48 | ||
| 2082 | 10.55 | 12.93 | 2.39 | ---- | -6.96 | -0.36 | 6.59 | ||
| 2083 | 10.44 | 12.93 | 2.49 | ---- | -7.08 | -0.37 | 6.71 | ||
| 2084 | 10.33 | 12.92 | 2.59 | ---- | -7.20 | -0.38 | 6.82 | ||
| 2085 | 10.23 | 12.92 | 2.69 | ---- | -7.32 | -0.38 | 6.94 | ||
| 2086 | 10.13 | 12.91 | 2.78 | ---- | -7.45 | -0.39 | 7.06 | ||
| 2087 | 10.04 | 12.91 | 2.87 | ---- | -7.58 | -0.40 | 7.18 | ||
| 2088 | 9.95 | 12.90 | 2.96 | ---- | -7.71 | -0.40 | 7.31 | ||
| 2089 | 9.86 | 12.90 | 3.04 | ---- | -7.84 | -0.41 | 7.43 | ||
| 2090 | 9.78 | 12.89 | 3.12 | ---- | -7.97 | -0.42 | 7.55 | ||
| 2091 | 9.69 | 12.89 | 3.20 | ---- | -8.10 | -0.42 | 7.68 | ||
| 2092 | 9.61 | 12.89 | 3.28 | ---- | -8.23 | -0.43 | 7.80 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2017-2091 | 13.87% | 13.70% | -0.18% | 2035 | -2.79% | -0.14% | 2.65% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2017 Trustees Report.