Detailed Single Year Tables
Description of Proposed Provision:
B3.8: Beginning with those newly eligible for OASDI benefits in 2028, 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 2061: 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 |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.91 | -1.52 | 214 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.94 | -1.69 | 196 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.86 | 12.96 | -1.90 | 178 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.10 | 13.08 | -2.03 | 159 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.10 | -2.26 | 141 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.62 | 13.14 | -2.49 | 122 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.87 | 13.17 | -2.70 | 104 | -0.00 | -0.00 | 0.00 | ||
| 2030 | 16.11 | 13.19 | -2.91 | 85 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 16.28 | 13.21 | -3.07 | 66 | -0.01 | -0.00 | 0.01 | ||
| 2032 | 16.43 | 13.22 | -3.21 | 47 | -0.01 | -0.00 | 0.01 | ||
| 2033 | 16.54 | 13.23 | -3.31 | 27 | -0.02 | -0.00 | 0.02 | ||
| 2034 | 16.63 | 13.24 | -3.40 | 7 | -0.03 | -0.00 | 0.02 | ||
| 2035 | 16.70 | 13.24 | -3.46 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2036 | 16.75 | 13.25 | -3.50 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2037 | 16.79 | 13.25 | -3.54 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2038 | 16.82 | 13.26 | -3.57 | ---- | -0.09 | -0.00 | 0.09 | ||
| 2039 | 16.84 | 13.26 | -3.58 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2040 | 16.84 | 13.26 | -3.57 | ---- | -0.14 | -0.01 | 0.14 | ||
| 2041 | 16.85 | 13.26 | -3.58 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2042 | 16.83 | 13.27 | -3.57 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2043 | 16.80 | 13.26 | -3.53 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2044 | 16.76 | 13.26 | -3.50 | ---- | -0.28 | -0.01 | 0.27 | ||
| 2045 | 16.73 | 13.26 | -3.46 | ---- | -0.32 | -0.02 | 0.31 | ||
| 2046 | 16.69 | 13.26 | -3.43 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2047 | 16.66 | 13.26 | -3.40 | ---- | -0.42 | -0.02 | 0.39 | ||
| 2048 | 16.63 | 13.26 | -3.37 | ---- | -0.47 | -0.02 | 0.44 | ||
| 2049 | 16.60 | 13.26 | -3.34 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2050 | 16.56 | 13.26 | -3.30 | ---- | -0.58 | -0.03 | 0.55 | ||
| 2051 | 16.53 | 13.26 | -3.27 | ---- | -0.63 | -0.03 | 0.60 | ||
| 2052 | 16.49 | 13.26 | -3.23 | ---- | -0.69 | -0.04 | 0.66 | ||
| 2053 | 16.46 | 13.26 | -3.20 | ---- | -0.76 | -0.04 | 0.72 | ||
| 2054 | 16.43 | 13.26 | -3.17 | ---- | -0.82 | -0.04 | 0.78 | ||
| 2055 | 16.40 | 13.26 | -3.15 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2056 | 16.38 | 13.26 | -3.12 | ---- | -0.96 | -0.05 | 0.90 | ||
| 2057 | 16.36 | 13.26 | -3.10 | ---- | -1.03 | -0.06 | 0.97 | ||
| 2058 | 16.34 | 13.26 | -3.08 | ---- | -1.10 | -0.06 | 1.04 | ||
| 2059 | 16.32 | 13.26 | -3.06 | ---- | -1.17 | -0.06 | 1.11 | ||
| 2060 | 16.30 | 13.26 | -3.04 | ---- | -1.24 | -0.07 | 1.18 | ||
| 2061 | 16.28 | 13.26 | -3.02 | ---- | -1.32 | -0.07 | 1.24 | ||
| 2062 | 16.26 | 13.26 | -3.00 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2063 | 16.24 | 13.26 | -2.98 | ---- | -1.46 | -0.08 | 1.38 | ||
| 2064 | 16.22 | 13.26 | -2.96 | ---- | -1.54 | -0.09 | 1.45 | ||
| 2065 | 16.19 | 13.26 | -2.94 | ---- | -1.61 | -0.09 | 1.52 | ||
| 2066 | 16.17 | 13.26 | -2.92 | ---- | -1.68 | -0.09 | 1.58 | ||
| 2067 | 16.16 | 13.26 | -2.90 | ---- | -1.75 | -0.10 | 1.65 | ||
| 2068 | 16.14 | 13.26 | -2.88 | ---- | -1.82 | -0.10 | 1.71 | ||
| 2069 | 16.13 | 13.26 | -2.87 | ---- | -1.88 | -0.11 | 1.78 | ||
| 2070 | 16.12 | 13.26 | -2.86 | ---- | -1.94 | -0.11 | 1.83 | ||
| 2071 | 16.12 | 13.26 | -2.86 | ---- | -2.00 | -0.11 | 1.89 | ||
| 2072 | 16.11 | 13.26 | -2.85 | ---- | -2.06 | -0.12 | 1.94 | ||
| 2073 | 16.11 | 13.26 | -2.85 | ---- | -2.12 | -0.12 | 1.99 | ||
| 2074 | 16.11 | 13.26 | -2.85 | ---- | -2.17 | -0.12 | 2.04 | ||
| 2075 | 16.10 | 13.26 | -2.84 | ---- | -2.21 | -0.13 | 2.09 | ||
| 2076 | 16.09 | 13.26 | -2.83 | ---- | -2.26 | -0.13 | 2.13 | ||
| 2077 | 16.07 | 13.26 | -2.81 | ---- | -2.30 | -0.13 | 2.17 | ||
| 2078 | 16.04 | 13.26 | -2.78 | ---- | -2.33 | -0.13 | 2.20 | ||
| 2079 | 16.01 | 13.26 | -2.75 | ---- | -2.36 | -0.14 | 2.23 | ||
| 2080 | 15.97 | 13.26 | -2.71 | ---- | -2.39 | -0.14 | 2.25 | ||
| 2081 | 15.92 | 13.26 | -2.66 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2082 | 15.87 | 13.25 | -2.61 | ---- | -2.43 | -0.14 | 2.29 | ||
| 2083 | 15.81 | 13.25 | -2.56 | ---- | -2.44 | -0.14 | 2.30 | ||
| 2084 | 15.74 | 13.25 | -2.50 | ---- | -2.46 | -0.14 | 2.31 | ||
| 2085 | 15.68 | 13.24 | -2.43 | ---- | -2.46 | -0.14 | 2.32 | ||
| 2086 | 15.61 | 13.24 | -2.37 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2087 | 15.53 | 13.23 | -2.30 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2088 | 15.46 | 13.23 | -2.23 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2089 | 15.40 | 13.23 | -2.17 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2090 | 15.34 | 13.22 | -2.12 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2091 | 15.29 | 13.22 | -2.07 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2092 | 15.26 | 13.22 | -2.04 | ---- | -2.48 | -0.14 | 2.33 | ||
| 2093 | 15.24 | 13.22 | -2.02 | ---- | -2.48 | -0.14 | 2.33 | ||
| 2094 | 15.22 | 13.21 | -2.01 | ---- | -2.48 | -0.14 | 2.34 | ||
| 2095 | 15.22 | 13.21 | -2.00 | ---- | -2.48 | -0.14 | 2.34 | ||
| 2096 | 15.22 | 13.22 | -2.00 | ---- | -2.49 | -0.14 | 2.34 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 16.24% | 13.72% | -2.52% | 2034 | -1.07% | -0.06% | 1.01% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
|||||||||
Based on Intermediate Assumptions of the 2021 Trustees Report.