Detailed Single Year Tables

Description of Proposed Provision:
B3.13: For retired worker beneficiaries newly eligible in 2023 (excluding disabled workers), add a new bend point at the wage-indexed equivalent of the 50th percentile of the AIME distribution minus $100 (for 2015 eligibility) and change the PIA factors to 95/32/15/5. Also move the current-law first bend point from the wage-indexed equivalent of $826 in 2015 to $1,050 in 2015. Phase this provision in over 10 years (2023-2032). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2023, 80% of CL formula + 20% of proposal formula for 2024, and so on.

			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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2016	14.05	12.94	-1.10	303	0.00	0.00	0.00
2017	13.72	12.92	-0.80	293	0.00	0.00	0.00
2018	13.86	12.96	-0.90	277	0.00	0.00	0.00
2019	13.99	12.97	-1.02	262	0.00	0.00	0.00
2020	14.13	12.98	-1.15	246	0.00	0.00	0.00
2021	14.27	13.00	-1.27	231	0.00	0.00	0.00
2022	14.49	13.03	-1.46	216	0.00	0.00	0.00
2023	14.76	13.06	-1.70	200	0.00	0.00	0.00
2024	15.02	13.09	-1.93	183	0.00	0.00	0.00
2025	15.29	13.11	-2.18	165	0.00	0.00	0.00
2026	15.47	13.13	-2.35	149	0.00	0.00	0.00
2027	15.66	13.14	-2.51	132	0.01	0.00	-0.01
2028	15.82	13.16	-2.67	115	0.01	0.00	-0.01
2029	15.98	13.17	-2.81	98	0.01	0.00	-0.01
2030	16.12	13.18	-2.94	81	0.01	0.00	-0.01
2031	16.24	13.19	-3.05	63	0.02	0.00	-0.01
2032	16.34	13.20	-3.14	45	0.02	0.00	-0.01
2033	16.42	13.21	-3.22	27	0.02	0.00	-0.01
2034	16.48	13.21	-3.26	8	0.01	0.00	-0.01
2035	16.51	13.22	-3.29	----	0.01	0.00	-0.01
2036	16.56	13.22	-3.34	----	0.01	0.00	-0.01
2037	16.60	13.23	-3.37	----	0.00	0.00	0.00
2038	16.61	13.23	-3.38	----	-0.01	0.00	0.01
2039	16.60	13.23	-3.37	----	-0.01	0.00	0.01
2040	16.57	13.23	-3.34	----	-0.02	0.00	0.02
2041	16.53	13.23	-3.30	----	-0.03	0.00	0.03
2042	16.50	13.23	-3.27	----	-0.03	0.00	0.03
2043	16.46	13.23	-3.23	----	-0.04	0.00	0.04
2044	16.42	13.23	-3.20	----	-0.04	0.00	0.04
2045	16.40	13.23	-3.17	----	-0.05	0.00	0.05
2046	16.37	13.23	-3.15	----	-0.05	0.00	0.05
2047	16.35	13.23	-3.12	----	-0.05	0.00	0.05
2048	16.33	13.23	-3.10	----	-0.06	0.00	0.05
2049	16.31	13.23	-3.08	----	-0.06	0.00	0.05
2050	16.30	13.23	-3.07	----	-0.06	0.00	0.06
2051	16.30	13.23	-3.07	----	-0.06	0.00	0.06
2052	16.31	13.23	-3.08	----	-0.06	0.00	0.06
2053	16.33	13.23	-3.09	----	-0.07	0.00	0.06
2054	16.36	13.24	-3.12	----	-0.07	0.00	0.06
2055	16.39	13.24	-3.16	----	-0.07	0.00	0.06
2056	16.44	13.24	-3.20	----	-0.07	0.00	0.07
2057	16.49	13.25	-3.24	----	-0.07	0.00	0.07
2058	16.53	13.25	-3.28	----	-0.07	0.00	0.07
2059	16.58	13.25	-3.33	----	-0.07	0.00	0.07
2060	16.63	13.26	-3.37	----	-0.08	0.00	0.07
2061	16.68	13.26	-3.42	----	-0.08	0.00	0.07
2062	16.73	13.26	-3.47	----	-0.08	0.00	0.07
2063	16.78	13.27	-3.51	----	-0.08	0.00	0.07
2064	16.83	13.27	-3.55	----	-0.08	0.00	0.07
2065	16.88	13.27	-3.60	----	-0.08	0.00	0.08
2066	16.93	13.28	-3.65	----	-0.08	0.00	0.08
2067	16.98	13.28	-3.70	----	-0.08	0.00	0.08
2068	17.03	13.29	-3.74	----	-0.08	0.00	0.08
2069	17.08	13.29	-3.79	----	-0.09	0.00	0.08
2070	17.13	13.29	-3.84	----	-0.09	0.00	0.08
2071	17.18	13.30	-3.88	----	-0.09	-0.01	0.08
2072	17.22	13.30	-3.92	----	-0.09	-0.01	0.08
2073	17.25	13.30	-3.95	----	-0.09	-0.01	0.08
2074	17.28	13.30	-3.98	----	-0.09	-0.01	0.09
2075	17.30	13.30	-4.00	----	-0.09	-0.01	0.09
2076	17.31	13.31	-4.01	----	-0.09	-0.01	0.09
2077	17.32	13.31	-4.01	----	-0.09	-0.01	0.09
2078	17.31	13.31	-4.01	----	-0.10	-0.01	0.09
2079	17.31	13.31	-4.00	----	-0.10	-0.01	0.09
2080	17.30	13.31	-4.00	----	-0.10	-0.01	0.09
2081	17.30	13.31	-4.00	----	-0.10	-0.01	0.09
2082	17.31	13.31	-4.00	----	-0.10	-0.01	0.09
2083	17.32	13.31	-4.01	----	-0.10	-0.01	0.09
2084	17.34	13.31	-4.03	----	-0.10	-0.01	0.10
2085	17.37	13.31	-4.06	----	-0.10	-0.01	0.10
2086	17.40	13.31	-4.09	----	-0.10	-0.01	0.10
2087	17.44	13.31	-4.13	----	-0.10	-0.01	0.10
2088	17.48	13.32	-4.16	----	-0.10	-0.01	0.10
2089	17.53	13.32	-4.21	----	-0.10	-0.01	0.10
2090	17.57	13.32	-4.25	----	-0.10	-0.01	0.10
2091	17.62	13.33	-4.29	----	-0.11	-0.01	0.10

				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	16.46%	13.84%	-2.62%	2034	-0.04%	-0.00%	0.04%

¹ Under present law, the year of Trust Fund reserve depletion is 2034.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates