Detailed Single Year Tables
Description of Proposed Provision:
B1.2: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2030: 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.
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 |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.87 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.04 | 12.97 | -2.07 | 168 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.23 | 13.08 | -2.15 | 149 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.38 | 13.09 | -2.29 | 131 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.55 | 13.13 | -2.42 | 114 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.72 | 13.16 | -2.56 | 96 | 0.00 | 0.00 | 0.00 | ||
| 2030 | 15.87 | 13.18 | -2.69 | 78 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 16.00 | 13.21 | -2.79 | 61 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 16.14 | 13.24 | -2.90 | 43 | -0.01 | -0.00 | 0.01 | ||
| 2033 | 16.26 | 13.25 | -3.01 | 25 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.36 | 13.26 | -3.10 | 7 | -0.02 | -0.00 | 0.02 | ||
| 2035 | 16.44 | 13.27 | -3.18 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2036 | 16.50 | 13.27 | -3.23 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2037 | 16.56 | 13.28 | -3.28 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2038 | 16.59 | 13.28 | -3.31 | ---- | -0.10 | -0.00 | 0.10 | ||
| 2039 | 16.61 | 13.29 | -3.32 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2040 | 16.61 | 13.29 | -3.32 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2041 | 16.59 | 13.29 | -3.30 | ---- | -0.22 | -0.01 | 0.21 | ||
| 2042 | 16.55 | 13.29 | -3.26 | ---- | -0.27 | -0.01 | 0.25 | ||
| 2043 | 16.51 | 13.29 | -3.23 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2044 | 16.47 | 13.29 | -3.18 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2045 | 16.43 | 13.28 | -3.14 | ---- | -0.44 | -0.02 | 0.41 | ||
| 2046 | 16.38 | 13.28 | -3.10 | ---- | -0.50 | -0.03 | 0.48 | ||
| 2047 | 16.33 | 13.28 | -3.05 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2048 | 16.28 | 13.28 | -3.00 | ---- | -0.64 | -0.04 | 0.61 | ||
| 2049 | 16.23 | 13.28 | -2.96 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2050 | 16.19 | 13.28 | -2.91 | ---- | -0.80 | -0.04 | 0.76 | ||
| 2051 | 16.14 | 13.27 | -2.86 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2052 | 16.09 | 13.27 | -2.82 | ---- | -0.97 | -0.05 | 0.91 | ||
| 2053 | 16.05 | 13.27 | -2.78 | ---- | -1.06 | -0.06 | 1.00 | ||
| 2054 | 16.02 | 13.27 | -2.75 | ---- | -1.15 | -0.07 | 1.08 | ||
| 2055 | 15.99 | 13.27 | -2.72 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2056 | 15.97 | 13.27 | -2.70 | ---- | -1.33 | -0.08 | 1.26 | ||
| 2057 | 15.95 | 13.27 | -2.68 | ---- | -1.43 | -0.08 | 1.35 | ||
| 2058 | 15.93 | 13.27 | -2.66 | ---- | -1.53 | -0.09 | 1.44 | ||
| 2059 | 15.92 | 13.27 | -2.64 | ---- | -1.62 | -0.09 | 1.53 | ||
| 2060 | 15.90 | 13.27 | -2.62 | ---- | -1.72 | -0.10 | 1.62 | ||
| 2061 | 15.87 | 13.27 | -2.60 | ---- | -1.82 | -0.11 | 1.71 | ||
| 2062 | 15.85 | 13.27 | -2.57 | ---- | -1.91 | -0.11 | 1.80 | ||
| 2063 | 15.82 | 13.27 | -2.55 | ---- | -2.01 | -0.12 | 1.89 | ||
| 2064 | 15.79 | 13.27 | -2.51 | ---- | -2.10 | -0.12 | 1.98 | ||
| 2065 | 15.75 | 13.27 | -2.48 | ---- | -2.19 | -0.13 | 2.06 | ||
| 2066 | 15.72 | 13.27 | -2.45 | ---- | -2.28 | -0.13 | 2.15 | ||
| 2067 | 15.69 | 13.27 | -2.42 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2068 | 15.65 | 13.27 | -2.38 | ---- | -2.46 | -0.15 | 2.32 | ||
| 2069 | 15.62 | 13.27 | -2.35 | ---- | -2.55 | -0.15 | 2.40 | ||
| 2070 | 15.59 | 13.27 | -2.32 | ---- | -2.64 | -0.16 | 2.48 | ||
| 2071 | 15.55 | 13.27 | -2.29 | ---- | -2.73 | -0.16 | 2.57 | ||
| 2072 | 15.52 | 13.26 | -2.25 | ---- | -2.82 | -0.17 | 2.65 | ||
| 2073 | 15.48 | 13.26 | -2.22 | ---- | -2.90 | -0.17 | 2.73 | ||
| 2074 | 15.44 | 13.26 | -2.18 | ---- | -2.99 | -0.18 | 2.81 | ||
| 2075 | 15.39 | 13.26 | -2.13 | ---- | -3.07 | -0.18 | 2.89 | ||
| 2076 | 15.33 | 13.26 | -2.08 | ---- | -3.16 | -0.19 | 2.97 | ||
| 2077 | 15.27 | 13.25 | -2.01 | ---- | -3.24 | -0.19 | 3.04 | ||
| 2078 | 15.19 | 13.25 | -1.94 | ---- | -3.31 | -0.20 | 3.11 | ||
| 2079 | 15.11 | 13.24 | -1.86 | ---- | -3.38 | -0.20 | 3.18 | ||
| 2080 | 15.01 | 13.24 | -1.77 | ---- | -3.45 | -0.21 | 3.24 | ||
| 2081 | 14.92 | 13.23 | -1.68 | ---- | -3.52 | -0.21 | 3.31 | ||
| 2082 | 14.81 | 13.23 | -1.58 | ---- | -3.58 | -0.22 | 3.37 | ||
| 2083 | 14.70 | 13.22 | -1.48 | ---- | -3.64 | -0.22 | 3.42 | ||
| 2084 | 14.59 | 13.21 | -1.37 | ---- | -3.70 | -0.22 | 3.48 | ||
| 2085 | 14.47 | 13.21 | -1.26 | ---- | -3.76 | -0.23 | 3.53 | ||
| 2086 | 14.35 | 13.20 | -1.15 | ---- | -3.81 | -0.23 | 3.58 | ||
| 2087 | 14.23 | 13.19 | -1.03 | ---- | -3.86 | -0.23 | 3.63 | ||
| 2088 | 14.10 | 13.19 | -0.92 | ---- | -3.92 | -0.24 | 3.68 | ||
| 2089 | 13.99 | 13.18 | -0.81 | ---- | -3.97 | -0.24 | 3.73 | ||
| 2090 | 13.88 | 13.17 | -0.70 | ---- | -4.02 | -0.24 | 3.78 | ||
| 2091 | 13.77 | 13.16 | -0.61 | ---- | -4.07 | -0.24 | 3.83 | ||
| 2092 | 13.68 | 13.16 | -0.52 | ---- | -4.12 | -0.25 | 3.88 | ||
| 2093 | 13.59 | 13.15 | -0.44 | ---- | -4.18 | -0.25 | 3.93 | ||
| 2094 | 13.51 | 13.15 | -0.36 | ---- | -4.24 | -0.26 | 3.99 | ||
| 2095 | 13.44 | 13.14 | -0.30 | ---- | -4.30 | -0.26 | 4.04 | ||
| 2096 | 13.38 | 13.14 | -0.24 | ---- | -4.37 | -0.26 | 4.10 | ||
| 2097 | 13.32 | 13.14 | -0.18 | ---- | -4.43 | -0.27 | 4.16 | ||
| 2098 | 13.27 | 13.14 | -0.14 | ---- | -4.50 | -0.27 | 4.23 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2023-2097 | 15.71% | 13.68% | -2.03% | 2034 | -1.67% | -0.10% | 1.58% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2023 Trustees Report.