Detailed Single Year Tables
Description of Proposed Provision:
B1.6 (2028): Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2028: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in the SSA average wage index. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.
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 |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.09 | 12.90 | -1.19 | 245 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.23 | 12.92 | -1.31 | 229 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.40 | 12.94 | -1.46 | 213 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.59 | 12.97 | -1.62 | 197 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.79 | 12.99 | -1.80 | 180 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 14.99 | 13.11 | -1.88 | 163 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.19 | 13.13 | -2.06 | 147 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.43 | 13.17 | -2.26 | 130 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.62 | 13.19 | -2.43 | 114 | -0.00 | -0.00 | 0.00 | ||
| 2030 | 15.80 | 13.20 | -2.60 | 97 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 15.96 | 13.22 | -2.74 | 80 | -0.01 | -0.00 | 0.01 | ||
| 2032 | 16.09 | 13.23 | -2.87 | 63 | -0.01 | -0.00 | 0.01 | ||
| 2033 | 16.21 | 13.24 | -2.97 | 46 | -0.02 | -0.00 | 0.02 | ||
| 2034 | 16.29 | 13.24 | -3.05 | 28 | -0.04 | -0.00 | 0.03 | ||
| 2035 | 16.34 | 13.25 | -3.10 | 10 | -0.05 | -0.00 | 0.05 | ||
| 2036 | 16.38 | 13.25 | -3.13 | ---- | -0.08 | -0.00 | 0.07 | ||
| 2037 | 16.41 | 13.26 | -3.16 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2038 | 16.43 | 13.26 | -3.17 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2039 | 16.43 | 13.26 | -3.17 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2040 | 16.40 | 13.26 | -3.14 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2041 | 16.36 | 13.26 | -3.10 | ---- | -0.25 | -0.01 | 0.24 | ||
| 2042 | 16.29 | 13.26 | -3.03 | ---- | -0.30 | -0.02 | 0.28 | ||
| 2043 | 16.21 | 13.25 | -2.95 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2044 | 16.12 | 13.25 | -2.87 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2045 | 16.03 | 13.24 | -2.78 | ---- | -0.46 | -0.03 | 0.43 | ||
| 2046 | 15.93 | 13.24 | -2.69 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2047 | 15.84 | 13.24 | -2.61 | ---- | -0.58 | -0.03 | 0.55 | ||
| 2048 | 15.76 | 13.23 | -2.53 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2049 | 15.67 | 13.23 | -2.44 | ---- | -0.72 | -0.04 | 0.67 | ||
| 2050 | 15.58 | 13.22 | -2.36 | ---- | -0.79 | -0.05 | 0.74 | ||
| 2051 | 15.50 | 13.22 | -2.28 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2052 | 15.43 | 13.22 | -2.22 | ---- | -0.93 | -0.06 | 0.88 | ||
| 2053 | 15.36 | 13.21 | -2.15 | ---- | -1.01 | -0.06 | 0.95 | ||
| 2054 | 15.30 | 13.21 | -2.09 | ---- | -1.09 | -0.07 | 1.02 | ||
| 2055 | 15.24 | 13.21 | -2.03 | ---- | -1.17 | -0.07 | 1.10 | ||
| 2056 | 15.19 | 13.21 | -1.99 | ---- | -1.25 | -0.07 | 1.17 | ||
| 2057 | 15.15 | 13.20 | -1.94 | ---- | -1.33 | -0.08 | 1.25 | ||
| 2058 | 15.11 | 13.20 | -1.91 | ---- | -1.42 | -0.09 | 1.33 | ||
| 2059 | 15.07 | 13.20 | -1.87 | ---- | -1.50 | -0.09 | 1.41 | ||
| 2060 | 15.04 | 13.20 | -1.84 | ---- | -1.59 | -0.10 | 1.49 | ||
| 2061 | 15.01 | 13.20 | -1.81 | ---- | -1.67 | -0.10 | 1.57 | ||
| 2062 | 14.98 | 13.20 | -1.78 | ---- | -1.76 | -0.11 | 1.65 | ||
| 2063 | 14.95 | 13.20 | -1.75 | ---- | -1.84 | -0.11 | 1.73 | ||
| 2064 | 14.92 | 13.20 | -1.72 | ---- | -1.92 | -0.12 | 1.80 | ||
| 2065 | 14.89 | 13.20 | -1.70 | ---- | -2.00 | -0.12 | 1.88 | ||
| 2066 | 14.87 | 13.19 | -1.67 | ---- | -2.09 | -0.13 | 1.96 | ||
| 2067 | 14.85 | 13.19 | -1.65 | ---- | -2.17 | -0.13 | 2.04 | ||
| 2068 | 14.82 | 13.19 | -1.63 | ---- | -2.25 | -0.14 | 2.11 | ||
| 2069 | 14.80 | 13.19 | -1.61 | ---- | -2.33 | -0.14 | 2.19 | ||
| 2070 | 14.78 | 13.19 | -1.59 | ---- | -2.42 | -0.15 | 2.27 | ||
| 2071 | 14.76 | 13.19 | -1.56 | ---- | -2.50 | -0.15 | 2.34 | ||
| 2072 | 14.73 | 13.19 | -1.54 | ---- | -2.58 | -0.16 | 2.42 | ||
| 2073 | 14.69 | 13.19 | -1.51 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2074 | 14.66 | 13.19 | -1.47 | ---- | -2.73 | -0.17 | 2.57 | ||
| 2075 | 14.62 | 13.18 | -1.43 | ---- | -2.81 | -0.17 | 2.64 | ||
| 2076 | 14.57 | 13.18 | -1.39 | ---- | -2.88 | -0.18 | 2.71 | ||
| 2077 | 14.52 | 13.18 | -1.34 | ---- | -2.96 | -0.18 | 2.78 | ||
| 2078 | 14.46 | 13.18 | -1.28 | ---- | -3.02 | -0.18 | 2.84 | ||
| 2079 | 14.39 | 13.17 | -1.22 | ---- | -3.09 | -0.19 | 2.90 | ||
| 2080 | 14.32 | 13.17 | -1.15 | ---- | -3.15 | -0.19 | 2.96 | ||
| 2081 | 14.24 | 13.16 | -1.07 | ---- | -3.21 | -0.20 | 3.01 | ||
| 2082 | 14.16 | 13.16 | -1.00 | ---- | -3.26 | -0.20 | 3.06 | ||
| 2083 | 14.08 | 13.15 | -0.93 | ---- | -3.32 | -0.20 | 3.12 | ||
| 2084 | 14.00 | 13.15 | -0.85 | ---- | -3.37 | -0.21 | 3.17 | ||
| 2085 | 13.93 | 13.14 | -0.78 | ---- | -3.43 | -0.21 | 3.22 | ||
| 2086 | 13.86 | 13.14 | -0.72 | ---- | -3.48 | -0.21 | 3.27 | ||
| 2087 | 13.79 | 13.14 | -0.66 | ---- | -3.53 | -0.22 | 3.32 | ||
| 2088 | 13.74 | 13.13 | -0.60 | ---- | -3.59 | -0.22 | 3.37 | ||
| 2089 | 13.69 | 13.13 | -0.56 | ---- | -3.65 | -0.22 | 3.43 | ||
| 2090 | 13.65 | 13.13 | -0.52 | ---- | -3.71 | -0.23 | 3.48 | ||
| 2091 | 13.61 | 13.12 | -0.49 | ---- | -3.77 | -0.23 | 3.54 | ||
| 2092 | 13.59 | 13.12 | -0.46 | ---- | -3.84 | -0.24 | 3.60 | ||
| 2093 | 13.57 | 13.12 | -0.44 | ---- | -3.91 | -0.24 | 3.67 | ||
| 2094 | 13.55 | 13.12 | -0.43 | ---- | -3.98 | -0.24 | 3.73 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 15.26% | 13.73% | -1.53% | 2035 | -1.34% | -0.08% | 1.26% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.