Detailed Single Year Tables
Description of Proposed Provision:
B1.5: Progressive price indexing (60th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2030: Create a new bend point at the 60th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 60th percentile and below. Reduce the 32 and 15 percent factors above the 60th 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 | -0.00 | -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 | -0.01 | -0.00 | 0.01 | ||
| 2035 | 16.46 | 13.27 | -3.19 | ---- | -0.02 | -0.00 | 0.02 | ||
| 2036 | 16.53 | 13.27 | -3.26 | ---- | -0.03 | -0.00 | 0.02 | ||
| 2037 | 16.60 | 13.28 | -3.32 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2038 | 16.64 | 13.29 | -3.36 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2039 | 16.68 | 13.29 | -3.39 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2040 | 16.69 | 13.29 | -3.40 | ---- | -0.09 | -0.00 | 0.09 | ||
| 2041 | 16.69 | 13.29 | -3.39 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2042 | 16.67 | 13.29 | -3.38 | ---- | -0.14 | -0.01 | 0.14 | ||
| 2043 | 16.66 | 13.29 | -3.36 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2044 | 16.64 | 13.29 | -3.35 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2045 | 16.62 | 13.29 | -3.33 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2046 | 16.60 | 13.29 | -3.31 | ---- | -0.28 | -0.02 | 0.26 | ||
| 2047 | 16.58 | 13.29 | -3.29 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2048 | 16.57 | 13.29 | -3.27 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2049 | 16.55 | 13.29 | -3.26 | ---- | -0.41 | -0.02 | 0.38 | ||
| 2050 | 16.54 | 13.30 | -3.24 | ---- | -0.45 | -0.03 | 0.43 | ||
| 2051 | 16.52 | 13.30 | -3.22 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2052 | 16.51 | 13.30 | -3.22 | ---- | -0.55 | -0.03 | 0.52 | ||
| 2053 | 16.51 | 13.30 | -3.21 | ---- | -0.60 | -0.03 | 0.56 | ||
| 2054 | 16.51 | 13.30 | -3.21 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2055 | 16.53 | 13.30 | -3.22 | ---- | -0.71 | -0.04 | 0.66 | ||
| 2056 | 16.54 | 13.30 | -3.24 | ---- | -0.76 | -0.04 | 0.72 | ||
| 2057 | 16.56 | 13.31 | -3.26 | ---- | -0.82 | -0.05 | 0.77 | ||
| 2058 | 16.58 | 13.31 | -3.28 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2059 | 16.61 | 13.31 | -3.30 | ---- | -0.93 | -0.06 | 0.88 | ||
| 2060 | 16.63 | 13.31 | -3.32 | ---- | -0.99 | -0.06 | 0.93 | ||
| 2061 | 16.65 | 13.32 | -3.33 | ---- | -1.04 | -0.06 | 0.98 | ||
| 2062 | 16.66 | 13.32 | -3.34 | ---- | -1.10 | -0.07 | 1.03 | ||
| 2063 | 16.67 | 13.32 | -3.35 | ---- | -1.15 | -0.07 | 1.09 | ||
| 2064 | 16.68 | 13.32 | -3.35 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2065 | 16.68 | 13.32 | -3.36 | ---- | -1.26 | -0.08 | 1.19 | ||
| 2066 | 16.69 | 13.33 | -3.36 | ---- | -1.32 | -0.08 | 1.24 | ||
| 2067 | 16.69 | 13.33 | -3.36 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2068 | 16.70 | 13.33 | -3.37 | ---- | -1.42 | -0.09 | 1.33 | ||
| 2069 | 16.70 | 13.33 | -3.37 | ---- | -1.47 | -0.09 | 1.38 | ||
| 2070 | 16.71 | 13.33 | -3.38 | ---- | -1.52 | -0.09 | 1.43 | ||
| 2071 | 16.71 | 13.33 | -3.38 | ---- | -1.57 | -0.09 | 1.47 | ||
| 2072 | 16.72 | 13.33 | -3.38 | ---- | -1.62 | -0.10 | 1.52 | ||
| 2073 | 16.72 | 13.34 | -3.39 | ---- | -1.66 | -0.10 | 1.56 | ||
| 2074 | 16.72 | 13.34 | -3.39 | ---- | -1.70 | -0.10 | 1.60 | ||
| 2075 | 16.72 | 13.34 | -3.38 | ---- | -1.74 | -0.11 | 1.64 | ||
| 2076 | 16.71 | 13.34 | -3.37 | ---- | -1.78 | -0.11 | 1.67 | ||
| 2077 | 16.69 | 13.34 | -3.35 | ---- | -1.82 | -0.11 | 1.70 | ||
| 2078 | 16.66 | 13.34 | -3.32 | ---- | -1.85 | -0.11 | 1.73 | ||
| 2079 | 16.62 | 13.33 | -3.28 | ---- | -1.87 | -0.11 | 1.76 | ||
| 2080 | 16.57 | 13.33 | -3.24 | ---- | -1.90 | -0.12 | 1.78 | ||
| 2081 | 16.52 | 13.33 | -3.19 | ---- | -1.92 | -0.12 | 1.80 | ||
| 2082 | 16.46 | 13.32 | -3.13 | ---- | -1.93 | -0.12 | 1.82 | ||
| 2083 | 16.40 | 13.32 | -3.08 | ---- | -1.95 | -0.12 | 1.83 | ||
| 2084 | 16.33 | 13.32 | -3.01 | ---- | -1.96 | -0.12 | 1.84 | ||
| 2085 | 16.26 | 13.31 | -2.94 | ---- | -1.97 | -0.12 | 1.85 | ||
| 2086 | 16.18 | 13.31 | -2.87 | ---- | -1.98 | -0.12 | 1.86 | ||
| 2087 | 16.11 | 13.30 | -2.80 | ---- | -1.98 | -0.12 | 1.86 | ||
| 2088 | 16.03 | 13.30 | -2.73 | ---- | -1.99 | -0.12 | 1.87 | ||
| 2089 | 15.96 | 13.29 | -2.67 | ---- | -1.99 | -0.12 | 1.87 | ||
| 2090 | 15.90 | 13.29 | -2.61 | ---- | -1.99 | -0.12 | 1.87 | ||
| 2091 | 15.85 | 13.29 | -2.56 | ---- | -1.99 | -0.12 | 1.87 | ||
| 2092 | 15.80 | 13.28 | -2.52 | ---- | -2.00 | -0.12 | 1.87 | ||
| 2093 | 15.77 | 13.28 | -2.49 | ---- | -2.00 | -0.12 | 1.88 | ||
| 2094 | 15.75 | 13.28 | -2.47 | ---- | -2.00 | -0.12 | 1.88 | ||
| 2095 | 15.74 | 13.28 | -2.46 | ---- | -2.01 | -0.12 | 1.88 | ||
| 2096 | 15.73 | 13.28 | -2.45 | ---- | -2.01 | -0.12 | 1.89 | ||
| 2097 | 15.74 | 13.28 | -2.46 | ---- | -2.02 | -0.12 | 1.89 | ||
| 2098 | 15.75 | 13.28 | -2.47 | ---- | -2.02 | -0.12 | 1.90 | ||
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 | 16.49% | 13.72% | -2.76% | 2034 | -0.90% | -0.05% | 0.84% | ||
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.