Summary Measures and Graphs
Description of Proposed Provision:
B3.8: Beginning with those newly eligible for OASDI benefits in 2030, 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 2063: 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.
Estimates based on the intermediate assumptions
of the 2023 Trustees Report
Summary Measures | |||||||
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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 |
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-3.61 | -4.35 | 1.01 | 2.35 | 28% | 54% |