Description of Proposed Provision:
B3.15: Increase the 90 percent PIA formula factor to 91 percent for beneficiaries newly eligible in 2023, 92 percent for those newly eligible in 2024, ..., reaching 95 percent for those newly eligible in 2027 and later.

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
201813.8112.64-1.17
288
0.000.000.00
201913.9512.87-1.08
272
0.000.000.00
202014.1212.89-1.23
256
0.000.000.00
202114.2712.92-1.35
239
0.000.000.00
202214.4412.95-1.49
223
0.000.000.00
202314.6212.97-1.66
206
0.000.00-0.00
202414.8112.99-1.81
188
0.000.00-0.00
202514.9913.01-1.98
171
0.010.00-0.01
202615.1713.13-2.04
154
0.010.00-0.01
202715.3913.15-2.23
137
0.020.00-0.02
202815.6213.17-2.45
120
0.040.00-0.04
202915.8413.19-2.65
103
0.050.00-0.05
203016.0513.21-2.84
85
0.070.00-0.06
203116.2413.22-3.02
67
0.080.00-0.08
203216.4213.23-3.19
49
0.100.00-0.10
203316.5713.24-3.33
30
0.120.01-0.12
203416.7113.25-3.45
11
0.140.01-0.14
203516.8113.26-3.55
----
0.160.01-0.15
203616.9013.27-3.63
----
0.180.01-0.17
203716.9813.28-3.70
----
0.200.01-0.19
203817.0313.28-3.75
----
0.210.01-0.20
203917.0613.28-3.78
----
0.230.01-0.22
204017.0713.29-3.79
----
0.240.01-0.23
204117.0713.29-3.78
----
0.260.01-0.24
204217.0513.29-3.76
----
0.270.01-0.26
204317.0213.29-3.73
----
0.280.01-0.27
204416.9913.28-3.71
----
0.300.02-0.28
204516.9713.28-3.68
----
0.310.02-0.29
204616.9513.28-3.66
----
0.320.02-0.30
204716.9313.29-3.65
----
0.330.02-0.32
204816.9213.29-3.63
----
0.340.02-0.33
204916.9113.29-3.62
----
0.350.02-0.33
205016.9013.29-3.62
----
0.360.02-0.34
205116.9013.29-3.62
----
0.370.02-0.35
205216.9113.29-3.62
----
0.380.02-0.36
205316.9313.29-3.64
----
0.390.02-0.37
205416.9613.29-3.66
----
0.390.02-0.37
205516.9913.30-3.69
----
0.400.02-0.38
205617.0313.30-3.73
----
0.410.02-0.39
205717.0813.30-3.77
----
0.410.02-0.39
205817.1313.31-3.82
----
0.420.02-0.40
205917.1813.31-3.87
----
0.420.02-0.40
206017.2313.32-3.92
----
0.430.02-0.40
206117.2913.32-3.97
----
0.430.02-0.41
206217.3413.33-4.02
----
0.430.02-0.41
206317.4013.33-4.07
----
0.440.02-0.41
206417.4513.33-4.12
----
0.440.02-0.41
206517.5113.34-4.17
----
0.440.02-0.42
206617.5713.34-4.23
----
0.440.02-0.42
206717.6313.35-4.28
----
0.440.02-0.42
206817.6913.35-4.34
----
0.450.02-0.42
206917.7513.36-4.40
----
0.450.02-0.42
207017.8113.36-4.46
----
0.450.02-0.43
207117.8713.36-4.51
----
0.450.02-0.43
207217.9213.37-4.56
----
0.450.02-0.43
207317.9713.37-4.60
----
0.460.02-0.43
207418.0113.37-4.64
----
0.460.02-0.43
207518.0413.38-4.67
----
0.460.03-0.43
207618.0713.38-4.69
----
0.460.03-0.43
207718.0813.38-4.70
----
0.460.03-0.43
207818.0913.38-4.70
----
0.460.03-0.43
207918.0813.38-4.70
----
0.460.03-0.43
208018.0613.38-4.68
----
0.460.03-0.43
208118.0513.38-4.67
----
0.460.03-0.43
208218.0313.38-4.65
----
0.460.03-0.43
208318.0113.38-4.63
----
0.460.03-0.43
208418.0013.38-4.62
----
0.460.03-0.43
208517.9913.38-4.61
----
0.460.03-0.43
208617.9913.38-4.61
----
0.460.03-0.43
208717.9913.38-4.61
----
0.460.03-0.43
208818.0013.38-4.63
----
0.460.03-0.43
208918.0313.38-4.65
----
0.460.03-0.43
209018.0613.38-4.68
----
0.460.03-0.43
209118.1013.38-4.71
----
0.460.03-0.44
209218.1413.39-4.75
----
0.460.03-0.44
209318.1913.39-4.80
----
0.460.03-0.44


Summarized Estimates

  Proposal   Change from Current Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
2018-2092 16.98% 13.86% -3.12%
2034
0.29% 0.02% -0.27%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2018 Trustees Report.