Detailed Single Year Tables
Description of Proposed Provision:
B1.7: Progressive price indexing (40th percentile) of PIA factors for individuals newly eligible for OASI benefits in 2027 through 2064: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 40th percentile and below. Reduce the 32 and 15 percent factors above the 40th 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.
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 | -2.59 | 97 | -0.01 | -0.00 | 0.01 | ||
| 2031 | 15.95 | 13.22 | -2.74 | 80 | -0.01 | -0.00 | 0.01 | ||
| 2032 | 16.09 | 13.23 | -2.86 | 63 | -0.02 | -0.00 | 0.02 | ||
| 2033 | 16.20 | 13.24 | -2.97 | 46 | -0.03 | -0.00 | 0.03 | ||
| 2034 | 16.28 | 13.24 | -3.04 | 28 | -0.05 | -0.00 | 0.04 | ||
| 2035 | 16.33 | 13.25 | -3.09 | 10 | -0.07 | -0.00 | 0.06 | ||
| 2036 | 16.37 | 13.25 | -3.12 | ---- | -0.09 | -0.01 | 0.08 | ||
| 2037 | 16.40 | 13.26 | -3.14 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2038 | 16.42 | 13.26 | -3.16 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2039 | 16.42 | 13.26 | -3.16 | ---- | -0.19 | -0.01 | 0.17 | ||
| 2040 | 16.39 | 13.26 | -3.13 | ---- | -0.22 | -0.01 | 0.21 | ||
| 2041 | 16.35 | 13.26 | -3.09 | ---- | -0.26 | -0.02 | 0.25 | ||
| 2042 | 16.28 | 13.26 | -3.03 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2043 | 16.20 | 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 | -2.79 | ---- | -0.45 | -0.03 | 0.43 | ||
| 2046 | 15.95 | 13.24 | -2.71 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2047 | 15.86 | 13.24 | -2.63 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2048 | 15.78 | 13.23 | -2.55 | ---- | -0.62 | -0.04 | 0.59 | ||
| 2049 | 15.70 | 13.23 | -2.47 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2050 | 15.62 | 13.23 | -2.40 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2051 | 15.55 | 13.22 | -2.33 | ---- | -0.81 | -0.05 | 0.76 | ||
| 2052 | 15.49 | 13.22 | -2.27 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2053 | 15.43 | 13.22 | -2.21 | ---- | -0.94 | -0.06 | 0.88 | ||
| 2054 | 15.38 | 13.21 | -2.16 | ---- | -1.01 | -0.06 | 0.95 | ||
| 2055 | 15.33 | 13.21 | -2.12 | ---- | -1.08 | -0.06 | 1.01 | ||
| 2056 | 15.29 | 13.21 | -2.08 | ---- | -1.15 | -0.07 | 1.08 | ||
| 2057 | 15.26 | 13.21 | -2.05 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2058 | 15.23 | 13.21 | -2.02 | ---- | -1.29 | -0.08 | 1.22 | ||
| 2059 | 15.21 | 13.21 | -2.00 | ---- | -1.37 | -0.08 | 1.28 | ||
| 2060 | 15.19 | 13.21 | -1.98 | ---- | -1.44 | -0.09 | 1.35 | ||
| 2061 | 15.17 | 13.21 | -1.96 | ---- | -1.51 | -0.09 | 1.42 | ||
| 2062 | 15.15 | 13.21 | -1.94 | ---- | -1.58 | -0.10 | 1.49 | ||
| 2063 | 15.13 | 13.21 | -1.92 | ---- | -1.65 | -0.10 | 1.55 | ||
| 2064 | 15.12 | 13.21 | -1.91 | ---- | -1.73 | -0.10 | 1.62 | ||
| 2065 | 15.10 | 13.21 | -1.89 | ---- | -1.80 | -0.11 | 1.69 | ||
| 2066 | 15.09 | 13.21 | -1.88 | ---- | -1.87 | -0.11 | 1.75 | ||
| 2067 | 15.08 | 13.21 | -1.87 | ---- | -1.93 | -0.12 | 1.82 | ||
| 2068 | 15.07 | 13.21 | -1.86 | ---- | -2.00 | -0.12 | 1.88 | ||
| 2069 | 15.06 | 13.21 | -1.85 | ---- | -2.07 | -0.13 | 1.95 | ||
| 2070 | 15.06 | 13.21 | -1.85 | ---- | -2.14 | -0.13 | 2.01 | ||
| 2071 | 15.05 | 13.21 | -1.84 | ---- | -2.20 | -0.13 | 2.07 | ||
| 2072 | 15.04 | 13.21 | -1.83 | ---- | -2.26 | -0.14 | 2.12 | ||
| 2073 | 15.03 | 13.21 | -1.82 | ---- | -2.32 | -0.14 | 2.18 | ||
| 2074 | 15.02 | 13.21 | -1.81 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2075 | 15.01 | 13.21 | -1.80 | ---- | -2.42 | -0.15 | 2.28 | ||
| 2076 | 14.99 | 13.21 | -1.78 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2077 | 14.96 | 13.21 | -1.76 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2078 | 14.93 | 13.21 | -1.73 | ---- | -2.55 | -0.16 | 2.39 | ||
| 2079 | 14.90 | 13.20 | -1.69 | ---- | -2.58 | -0.16 | 2.42 | ||
| 2080 | 14.86 | 13.20 | -1.65 | ---- | -2.61 | -0.16 | 2.45 | ||
| 2081 | 14.81 | 13.20 | -1.61 | ---- | -2.63 | -0.16 | 2.47 | ||
| 2082 | 14.77 | 13.20 | -1.57 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2083 | 14.73 | 13.19 | -1.54 | ---- | -2.67 | -0.16 | 2.51 | ||
| 2084 | 14.69 | 13.19 | -1.50 | ---- | -2.69 | -0.16 | 2.52 | ||
| 2085 | 14.65 | 13.19 | -1.47 | ---- | -2.70 | -0.17 | 2.54 | ||
| 2086 | 14.63 | 13.19 | -1.44 | ---- | -2.71 | -0.17 | 2.55 | ||
| 2087 | 14.60 | 13.19 | -1.42 | ---- | -2.72 | -0.17 | 2.56 | ||
| 2088 | 14.59 | 13.18 | -1.41 | ---- | -2.74 | -0.17 | 2.57 | ||
| 2089 | 14.59 | 13.18 | -1.40 | ---- | -2.75 | -0.17 | 2.58 | ||
| 2090 | 14.60 | 13.18 | -1.41 | ---- | -2.76 | -0.17 | 2.59 | ||
| 2091 | 14.61 | 13.19 | -1.43 | ---- | -2.77 | -0.17 | 2.60 | ||
| 2092 | 14.64 | 13.19 | -1.45 | ---- | -2.79 | -0.17 | 2.62 | ||
| 2093 | 14.67 | 13.19 | -1.48 | ---- | -2.80 | -0.17 | 2.63 | ||
| 2094 | 14.71 | 13.19 | -1.51 | ---- | -2.82 | -0.17 | 2.64 | ||
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 | 15.47% | 13.74% | -1.72% | 2035 | -1.13% | -0.07% | 1.06% | ||
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.