Detailed Single Year Tables
Description of Proposed Provision:
B3.8: Beginning with those newly eligible for OASDI benefits in 2027, create a new bend point at the 50th percentile of the AIME distribution of newly retired workers and gradually reduce all PIA factors except for the 90 percent factor. By 2060: a) the 32 percent PIA factor below the new bend point reduces to 30 percent; b) the 32 percent PIA factor above the new bend point reduces to 10 percent; and c) the 15 percent PIA factor reduces to 5 percent.
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 |
|||
| 2020 | 13.92 | 13.00 | -0.92 | 261 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.05 | 12.90 | -1.15 | 248 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.25 | 12.93 | -1.32 | 233 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.94 | -1.49 | 217 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.98 | -1.67 | 200 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.88 | 13.00 | -1.88 | 183 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.11 | 13.12 | -1.99 | 165 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.35 | 13.15 | -2.20 | 148 | -0.00 | -0.00 | 0.00 | ||
| 2028 | 15.58 | 13.19 | -2.39 | 130 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.83 | 13.23 | -2.60 | 112 | -0.00 | -0.00 | 0.00 | ||
| 2030 | 16.02 | 13.24 | -2.77 | 94 | -0.01 | -0.00 | 0.01 | ||
| 2031 | 16.18 | 13.26 | -2.92 | 76 | -0.01 | -0.00 | 0.01 | ||
| 2032 | 16.32 | 13.27 | -3.05 | 58 | -0.02 | -0.00 | 0.02 | ||
| 2033 | 16.43 | 13.28 | -3.15 | 39 | -0.03 | -0.00 | 0.03 | ||
| 2034 | 16.51 | 13.28 | -3.23 | 21 | -0.04 | -0.00 | 0.04 | ||
| 2035 | 16.57 | 13.29 | -3.28 | 2 | -0.05 | -0.00 | 0.05 | ||
| 2036 | 16.62 | 13.30 | -3.32 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2037 | 16.65 | 13.30 | -3.35 | ---- | -0.09 | -0.00 | 0.09 | ||
| 2038 | 16.67 | 13.30 | -3.36 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2039 | 16.67 | 13.31 | -3.37 | ---- | -0.14 | -0.01 | 0.14 | ||
| 2040 | 16.67 | 13.31 | -3.36 | ---- | -0.17 | -0.01 | 0.17 | ||
| 2041 | 16.65 | 13.31 | -3.34 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2042 | 16.62 | 13.31 | -3.31 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2043 | 16.57 | 13.30 | -3.26 | ---- | -0.28 | -0.02 | 0.27 | ||
| 2044 | 16.51 | 13.30 | -3.21 | ---- | -0.32 | -0.02 | 0.31 | ||
| 2045 | 16.45 | 13.30 | -3.15 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2046 | 16.39 | 13.30 | -3.09 | ---- | -0.42 | -0.02 | 0.39 | ||
| 2047 | 16.33 | 13.29 | -3.03 | ---- | -0.46 | -0.03 | 0.44 | ||
| 2048 | 16.27 | 13.29 | -2.98 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2049 | 16.21 | 13.29 | -2.92 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2050 | 16.16 | 13.29 | -2.87 | ---- | -0.63 | -0.04 | 0.59 | ||
| 2051 | 16.10 | 13.29 | -2.82 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2052 | 16.06 | 13.28 | -2.77 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2053 | 16.02 | 13.28 | -2.73 | ---- | -0.81 | -0.05 | 0.77 | ||
| 2054 | 15.98 | 13.28 | -2.70 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2055 | 15.95 | 13.28 | -2.67 | ---- | -0.95 | -0.05 | 0.89 | ||
| 2056 | 15.92 | 13.28 | -2.64 | ---- | -1.02 | -0.06 | 0.96 | ||
| 2057 | 15.89 | 13.28 | -2.61 | ---- | -1.09 | -0.06 | 1.02 | ||
| 2058 | 15.87 | 13.28 | -2.59 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2059 | 15.85 | 13.28 | -2.57 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2060 | 15.84 | 13.28 | -2.56 | ---- | -1.30 | -0.08 | 1.23 | ||
| 2061 | 15.83 | 13.28 | -2.55 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2062 | 15.81 | 13.28 | -2.53 | ---- | -1.45 | -0.08 | 1.37 | ||
| 2063 | 15.80 | 13.28 | -2.52 | ---- | -1.52 | -0.09 | 1.44 | ||
| 2064 | 15.80 | 13.28 | -2.51 | ---- | -1.60 | -0.09 | 1.50 | ||
| 2065 | 15.79 | 13.28 | -2.51 | ---- | -1.67 | -0.10 | 1.57 | ||
| 2066 | 15.79 | 13.28 | -2.50 | ---- | -1.74 | -0.10 | 1.64 | ||
| 2067 | 15.79 | 13.28 | -2.50 | ---- | -1.81 | -0.11 | 1.70 | ||
| 2068 | 15.79 | 13.29 | -2.51 | ---- | -1.87 | -0.11 | 1.76 | ||
| 2069 | 15.80 | 13.29 | -2.51 | ---- | -1.94 | -0.11 | 1.82 | ||
| 2070 | 15.81 | 13.29 | -2.52 | ---- | -2.00 | -0.12 | 1.88 | ||
| 2071 | 15.81 | 13.29 | -2.53 | ---- | -2.06 | -0.12 | 1.93 | ||
| 2072 | 15.82 | 13.29 | -2.53 | ---- | -2.11 | -0.13 | 1.98 | ||
| 2073 | 15.82 | 13.29 | -2.53 | ---- | -2.16 | -0.13 | 2.03 | ||
| 2074 | 15.83 | 13.29 | -2.54 | ---- | -2.21 | -0.13 | 2.08 | ||
| 2075 | 15.83 | 13.29 | -2.53 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2076 | 15.82 | 13.29 | -2.53 | ---- | -2.29 | -0.14 | 2.16 | ||
| 2077 | 15.81 | 13.29 | -2.52 | ---- | -2.33 | -0.14 | 2.19 | ||
| 2078 | 15.79 | 13.29 | -2.50 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2079 | 15.76 | 13.29 | -2.47 | ---- | -2.39 | -0.14 | 2.24 | ||
| 2080 | 15.73 | 13.29 | -2.44 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2081 | 15.69 | 13.29 | -2.40 | ---- | -2.43 | -0.15 | 2.28 | ||
| 2082 | 15.65 | 13.28 | -2.36 | ---- | -2.45 | -0.15 | 2.30 | ||
| 2083 | 15.60 | 13.28 | -2.32 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2084 | 15.56 | 13.28 | -2.28 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2085 | 15.51 | 13.28 | -2.24 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2086 | 15.47 | 13.27 | -2.20 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2087 | 15.43 | 13.27 | -2.16 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2088 | 15.40 | 13.27 | -2.13 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2089 | 15.37 | 13.27 | -2.10 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2090 | 15.36 | 13.27 | -2.09 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2091 | 15.35 | 13.27 | -2.09 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2092 | 15.36 | 13.27 | -2.09 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2093 | 15.38 | 13.27 | -2.11 | ---- | -2.53 | -0.15 | 2.38 | ||
| 2094 | 15.40 | 13.27 | -2.13 | ---- | -2.54 | -0.15 | 2.38 | ||
| 2095 | 15.43 | 13.27 | -2.16 | ---- | -2.54 | -0.15 | 2.39 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2020-2094 | 15.99% | 13.79% | -2.20% | 2035 | -1.07% | -0.06% | 1.01% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2020 Trustees Report.