Summary Measures and Graphs

Description of Proposed Provision:
B3.15: Increase the 90 percent PIA formula factor to 91 percent for beneficiaries newly eligible in 2024, 92 percent for those newly eligible in 2025, ..., reaching 95 percent for those newly eligible in 2028 and later.

Estimates based on the intermediate assumptions of the 2019 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
-2.78 -4.11 -0.28 -0.43 -10% -10%

graph of OASDI cost rates and income rates by year, under current law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under current law and provision. click on graph to view underlying data.