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Detailed Single Year Tables
Level of Monthly Benefits

Description of Proposed Provision:
B3.12: Use an annualized "mini-PIA" formula beginning with retired workers newly eligible in 2023. For each indexed earnings year, compute an individual AIME and an individual PIA. Sum these individual PIAs for the 40 highest years of indexed earnings and divide that total amount by 37 to get the PIA for this provision. Phase-in over five years, meaning that in 2023, 80 percent of the benefit would be based on the old 35-year average PIA formula and 20 percent on the new mini-PIA formula, shifting by 20 percentage points each year until 100 percent is based on the new mini-PIA formula for those attaining age 62 in 2027. Disabled worker benefits are unchanged under this provision.

 

Financial Estimates for the OASDI Trust Fund Program
 
  Proposal
   Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

 Trust fund
ratio as of
January 1		 Expressed as a percentage of
present-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance
Cost
rate		 Income
rate		 Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.09-1.93
183
-0.010.000.00
202515.2713.11-2.16
166
-0.010.000.01
202615.4513.13-2.32
149
-0.020.000.02
202715.6113.14-2.47
132
-0.040.000.03
202815.7613.15-2.61
116
-0.050.000.05
202915.8913.17-2.73
99
-0.070.000.07
203016.0113.18-2.84
83
-0.090.000.08
203116.1213.18-2.93
66
-0.11-0.010.10
203216.2013.19-3.01
48
-0.12-0.010.12
203316.2713.20-3.07
30
-0.14-0.010.13
203416.3113.20-3.11
12
-0.15-0.010.15
203516.3313.21-3.12
----
-0.17-0.010.16
203616.3713.21-3.16
----
-0.18-0.010.17
203716.4013.22-3.19
----
-0.20-0.010.19
203816.4113.22-3.19
----
-0.21-0.010.20
203916.3913.22-3.17
----
-0.22-0.010.20
204016.3613.22-3.15
----
-0.23-0.010.21
204116.3313.22-3.11
----
-0.23-0.010.22
204216.2913.22-3.07
----
-0.24-0.010.23
204316.2513.22-3.03
----
-0.25-0.010.24
204416.2113.22-2.99
----
-0.26-0.010.24
204516.1813.22-2.97
----
-0.27-0.010.25
204616.1513.22-2.94
----
-0.27-0.020.26
204716.1213.21-2.90
----
-0.28-0.020.27
204816.0913.21-2.88
----
-0.29-0.020.27
204916.0713.21-2.85
----
-0.30-0.020.28
205016.0513.21-2.84
----
-0.31-0.020.29
205116.0413.21-2.83
----
-0.32-0.020.30
205216.0513.22-2.83
----
-0.32-0.020.31
205316.0613.22-2.84
----
-0.33-0.020.31
205416.0813.22-2.86
----
-0.34-0.020.32
205516.1213.22-2.89
----
-0.35-0.020.33
205616.1513.23-2.93
----
-0.36-0.020.34
205716.1913.23-2.96
----
-0.36-0.020.34
205816.2413.23-3.01
----
-0.37-0.020.35
205916.2813.24-3.05
----
-0.37-0.020.35
206016.3313.24-3.09
----
-0.38-0.020.36
206116.3813.24-3.13
----
-0.38-0.020.36
206216.4213.25-3.18
----
-0.38-0.020.36
206316.4713.25-3.22
----
-0.39-0.020.36
206416.5213.25-3.26
----
-0.39-0.020.37
206516.5613.26-3.31
----
-0.39-0.020.37
206616.6113.26-3.35
----
-0.39-0.020.37
206716.6713.26-3.40
----
-0.39-0.020.37
206816.7213.27-3.45
----
-0.40-0.020.37
206916.7713.27-3.50
----
-0.40-0.020.37
207016.8213.27-3.54
----
-0.40-0.020.38
207116.8613.28-3.59
----
-0.40-0.020.38
207216.9013.28-3.62
----
-0.40-0.020.38
207316.9413.28-3.65
----
-0.40-0.020.38
207416.9713.28-3.68
----
-0.40-0.020.38
207516.9913.29-3.70
----
-0.40-0.020.38
207617.0013.29-3.71
----
-0.40-0.020.38
207717.0113.29-3.72
----
-0.40-0.020.38
207817.0113.29-3.72
----
-0.40-0.020.38
207917.0013.29-3.72
----
-0.40-0.020.38
208017.0013.29-3.71
----
-0.40-0.020.38
208117.0013.29-3.71
----
-0.40-0.020.38
208217.0113.29-3.72
----
-0.40-0.020.38
208317.0213.29-3.73
----
-0.40-0.020.38
208417.0413.29-3.75
----
-0.40-0.020.38
208517.0713.29-3.78
----
-0.40-0.020.38
208617.1013.29-3.81
----
-0.40-0.020.38
208717.1413.30-3.85
----
-0.40-0.020.38
208817.1813.30-3.88
----
-0.40-0.020.38
208917.2313.30-3.93
----
-0.40-0.020.38
209017.2713.31-3.97
----
-0.40-0.020.38
209117.3213.31-4.01
----
-0.40-0.020.38



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 16.25% 13.83% -2.42%
2034
-0.25% -0.01% 0.23%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified October 7, 2016