Detailed Single Year Tables
Description of Proposed Provision:
B1.3: Progressive price indexing (40th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2030: 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.
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 | 0.00 | ||
| 2033 | 16.26 | 13.25 | -3.01 | 25 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.37 | 13.26 | -3.11 | 7 | -0.02 | -0.00 | 0.02 | ||
| 2035 | 16.45 | 13.27 | -3.18 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2036 | 16.51 | 13.27 | -3.24 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2037 | 16.57 | 13.28 | -3.30 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2038 | 16.61 | 13.28 | -3.33 | ---- | -0.08 | -0.00 | 0.08 | ||
| 2039 | 16.63 | 13.29 | -3.35 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2040 | 16.64 | 13.29 | -3.35 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2041 | 16.62 | 13.29 | -3.33 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2042 | 16.59 | 13.29 | -3.31 | ---- | -0.22 | -0.01 | 0.21 | ||
| 2043 | 16.56 | 13.29 | -3.27 | ---- | -0.27 | -0.01 | 0.25 | ||
| 2044 | 16.53 | 13.29 | -3.24 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2045 | 16.49 | 13.29 | -3.21 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2046 | 16.46 | 13.29 | -3.17 | ---- | -0.42 | -0.02 | 0.40 | ||
| 2047 | 16.42 | 13.29 | -3.13 | ---- | -0.48 | -0.03 | 0.46 | ||
| 2048 | 16.38 | 13.28 | -3.10 | ---- | -0.55 | -0.03 | 0.52 | ||
| 2049 | 16.34 | 13.28 | -3.06 | ---- | -0.61 | -0.03 | 0.58 | ||
| 2050 | 16.31 | 13.28 | -3.03 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2051 | 16.27 | 13.28 | -2.99 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2052 | 16.24 | 13.28 | -2.96 | ---- | -0.82 | -0.05 | 0.78 | ||
| 2053 | 16.21 | 13.28 | -2.93 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2054 | 16.19 | 13.28 | -2.91 | ---- | -0.98 | -0.06 | 0.92 | ||
| 2055 | 16.18 | 13.28 | -2.89 | ---- | -1.06 | -0.06 | 0.99 | ||
| 2056 | 16.17 | 13.28 | -2.88 | ---- | -1.14 | -0.07 | 1.07 | ||
| 2057 | 16.16 | 13.28 | -2.88 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2058 | 16.16 | 13.28 | -2.87 | ---- | -1.30 | -0.08 | 1.23 | ||
| 2059 | 16.15 | 13.29 | -2.87 | ---- | -1.39 | -0.08 | 1.30 | ||
| 2060 | 16.15 | 13.29 | -2.86 | ---- | -1.47 | -0.09 | 1.38 | ||
| 2061 | 16.14 | 13.29 | -2.85 | ---- | -1.55 | -0.09 | 1.46 | ||
| 2062 | 16.13 | 13.29 | -2.84 | ---- | -1.63 | -0.10 | 1.54 | ||
| 2063 | 16.11 | 13.29 | -2.82 | ---- | -1.71 | -0.10 | 1.61 | ||
| 2064 | 16.09 | 13.29 | -2.80 | ---- | -1.79 | -0.11 | 1.69 | ||
| 2065 | 16.07 | 13.29 | -2.78 | ---- | -1.87 | -0.11 | 1.76 | ||
| 2066 | 16.05 | 13.29 | -2.76 | ---- | -1.95 | -0.12 | 1.84 | ||
| 2067 | 16.03 | 13.29 | -2.74 | ---- | -2.03 | -0.12 | 1.91 | ||
| 2068 | 16.01 | 13.29 | -2.72 | ---- | -2.11 | -0.13 | 1.98 | ||
| 2069 | 15.99 | 13.29 | -2.70 | ---- | -2.18 | -0.13 | 2.05 | ||
| 2070 | 15.97 | 13.29 | -2.68 | ---- | -2.26 | -0.13 | 2.13 | ||
| 2071 | 15.95 | 13.29 | -2.66 | ---- | -2.34 | -0.14 | 2.20 | ||
| 2072 | 15.92 | 13.29 | -2.64 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2073 | 15.90 | 13.29 | -2.61 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2074 | 15.87 | 13.29 | -2.58 | ---- | -2.56 | -0.15 | 2.41 | ||
| 2075 | 15.83 | 13.28 | -2.55 | ---- | -2.63 | -0.16 | 2.48 | ||
| 2076 | 15.79 | 13.28 | -2.50 | ---- | -2.70 | -0.16 | 2.54 | ||
| 2077 | 15.73 | 13.28 | -2.45 | ---- | -2.77 | -0.17 | 2.61 | ||
| 2078 | 15.67 | 13.28 | -2.39 | ---- | -2.84 | -0.17 | 2.67 | ||
| 2079 | 15.59 | 13.27 | -2.32 | ---- | -2.90 | -0.17 | 2.72 | ||
| 2080 | 15.51 | 13.27 | -2.24 | ---- | -2.96 | -0.18 | 2.78 | ||
| 2081 | 15.42 | 13.26 | -2.16 | ---- | -3.02 | -0.18 | 2.83 | ||
| 2082 | 15.32 | 13.26 | -2.07 | ---- | -3.07 | -0.19 | 2.89 | ||
| 2083 | 15.22 | 13.25 | -1.97 | ---- | -3.12 | -0.19 | 2.93 | ||
| 2084 | 15.11 | 13.25 | -1.87 | ---- | -3.17 | -0.19 | 2.98 | ||
| 2085 | 15.00 | 13.24 | -1.77 | ---- | -3.22 | -0.19 | 3.03 | ||
| 2086 | 14.89 | 13.23 | -1.66 | ---- | -3.27 | -0.20 | 3.07 | ||
| 2087 | 14.78 | 13.22 | -1.55 | ---- | -3.31 | -0.20 | 3.11 | ||
| 2088 | 14.66 | 13.22 | -1.44 | ---- | -3.36 | -0.20 | 3.15 | ||
| 2089 | 14.55 | 13.21 | -1.34 | ---- | -3.40 | -0.21 | 3.19 | ||
| 2090 | 14.45 | 13.20 | -1.24 | ---- | -3.44 | -0.21 | 3.24 | ||
| 2091 | 14.35 | 13.20 | -1.15 | ---- | -3.49 | -0.21 | 3.28 | ||
| 2092 | 14.27 | 13.19 | -1.07 | ---- | -3.54 | -0.21 | 3.32 | ||
| 2093 | 14.19 | 13.19 | -1.00 | ---- | -3.58 | -0.22 | 3.37 | ||
| 2094 | 14.12 | 13.18 | -0.94 | ---- | -3.63 | -0.22 | 3.41 | ||
| 2095 | 14.06 | 13.18 | -0.88 | ---- | -3.68 | -0.22 | 3.46 | ||
| 2096 | 14.01 | 13.18 | -0.84 | ---- | -3.73 | -0.23 | 3.50 | ||
| 2097 | 13.97 | 13.18 | -0.80 | ---- | -3.78 | -0.23 | 3.55 | ||
| 2098 | 13.94 | 13.17 | -0.77 | ---- | -3.83 | -0.23 | 3.60 | ||
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 | 15.95% | 13.69% | -2.26% | 2034 | -1.43% | -0.08% | 1.35% | ||
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.