Description of Proposed Provision:
B6.3: Provide an increase in the benefit level of any beneficiary who is 85 or older at the beginning of 2019 or who reaches their 85th birthday after the beginning of 2019. Increase the beneficiary's PIA based on an amount equal to the average retired-worker PIA at the end of 2018, or at the end of the year age 80 if later. Increase the beneficiary's PIA by 5 percent of this amount for those older than 85 at the beginning of 2019 and by 5 percent of this amount at age 85 for others, phased in at 1 percent per year for ages 81-85.

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
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7812.95-0.83
271
0.080.00-0.07
202013.9312.97-0.97
257
0.080.00-0.07
202114.1013.00-1.10
242
0.080.00-0.07
202214.3313.03-1.31
227
0.080.00-0.08
202314.6313.05-1.57
212
0.080.00-0.08
202414.9113.09-1.82
195
0.080.00-0.08
202515.1913.11-2.08
179
0.090.00-0.08
202615.4613.14-2.32
161
0.090.00-0.08
202715.7113.16-2.55
143
0.090.01-0.09
202815.9513.17-2.78
125
0.100.01-0.09
202916.1713.19-2.98
107
0.100.01-0.10
203016.3713.20-3.17
88
0.110.01-0.10
203116.5613.21-3.34
69
0.110.01-0.10
203216.7213.22-3.50
50
0.120.01-0.11
203316.8613.23-3.63
29
0.120.01-0.11
203416.9713.24-3.73
9
0.130.01-0.12
203517.0613.25-3.81
----
0.130.01-0.12
203617.1213.25-3.87
----
0.130.01-0.13
203717.1613.26-3.90
----
0.140.01-0.13
203817.1713.26-3.91
----
0.140.01-0.14
203917.1513.26-3.89
----
0.150.01-0.14
204017.1113.26-3.86
----
0.150.01-0.14
204117.0713.25-3.82
----
0.160.01-0.15
204217.0213.25-3.77
----
0.160.01-0.15
204316.9713.25-3.72
----
0.160.01-0.15
204416.9213.25-3.68
----
0.160.01-0.16
204516.8913.25-3.64
----
0.170.01-0.16
204616.8513.24-3.60
----
0.170.01-0.16
204716.8213.24-3.57
----
0.170.01-0.16
204816.7913.24-3.54
----
0.170.01-0.16
204916.7613.24-3.52
----
0.170.01-0.16
205016.7413.24-3.49
----
0.170.01-0.16
205116.7213.24-3.48
----
0.170.01-0.16
205216.7213.24-3.48
----
0.170.01-0.16
205316.7413.24-3.49
----
0.170.01-0.16
205416.7613.24-3.51
----
0.170.01-0.16
205516.7813.25-3.54
----
0.170.01-0.16
205616.8213.25-3.57
----
0.160.01-0.15
205716.8613.25-3.61
----
0.160.01-0.15
205816.9013.26-3.65
----
0.160.01-0.15
205916.9413.26-3.69
----
0.160.01-0.15
206016.9913.26-3.73
----
0.160.01-0.15
206117.0313.27-3.77
----
0.160.01-0.15
206217.0813.27-3.81
----
0.160.01-0.15
206317.1313.27-3.86
----
0.160.01-0.15
206417.1813.27-3.91
----
0.160.01-0.15
206517.2313.28-3.95
----
0.160.01-0.15
206617.2813.28-4.00
----
0.170.01-0.16
206717.3413.28-4.05
----
0.170.01-0.16
206817.3913.29-4.10
----
0.170.01-0.16
206917.4413.29-4.15
----
0.170.01-0.16
207017.5013.29-4.20
----
0.170.01-0.16
207117.5513.30-4.25
----
0.170.01-0.16
207217.5913.30-4.29
----
0.180.01-0.17
207317.6313.30-4.32
----
0.180.01-0.17
207417.6613.31-4.36
----
0.180.01-0.17
207517.6913.31-4.38
----
0.180.01-0.17
207617.7113.31-4.40
----
0.190.01-0.18
207717.7113.31-4.40
----
0.190.01-0.18
207817.7113.31-4.40
----
0.190.01-0.18
207917.7113.31-4.40
----
0.190.01-0.18
208017.7013.31-4.39
----
0.190.01-0.18
208117.7013.31-4.39
----
0.190.01-0.18
208217.7013.31-4.39
----
0.190.01-0.18
208317.7013.31-4.40
----
0.190.01-0.18
208417.7213.31-4.41
----
0.190.01-0.18
208517.7413.31-4.43
----
0.190.01-0.18
208617.7713.31-4.46
----
0.190.01-0.18
208717.8113.31-4.50
----
0.190.01-0.18
208817.8513.32-4.54
----
0.200.01-0.18
208917.9013.32-4.58
----
0.200.01-0.19
209017.9513.32-4.62
----
0.200.01-0.19
209117.9913.33-4.67
----
0.200.01-0.19
209218.0413.33-4.71
----
0.200.01-0.19


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 16.81% 13.85% -2.96%
2034
0.15% 0.01% -0.14%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2017 Trustees Report.