Description of Proposed Provision:
B3.11: Increase the first PIA factor from 90 percent to 93 percent for all beneficiaries eligible as of January 2020 and for those newly eligible for benefits after 2019.

Estimates based on the intermediate assumptions of the 2018 Trustees Report

Summary Measures
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
-2.84 -4.32   -0.24 -0.26   -8% -6%

graph of OASDI cost rates and income rates by year, under current law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under current law and provision. click on graph to view underlying data.