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Detailed Single Year Tables

Description of Proposed Provision:
Progressive indexing of PIA formula factors beginning with individuals newly eligible for OASI benefits in 2013 through 2062. Create new bend point at the 30th percentile of earners. Maintain current-law benefits for earners at the 30th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit is reduced by 1.2 percent per year as compared to current law, for the years that progressive indexing applies. Disability benefits are not affected by the proposal. Disabled worker beneficiaries, upon attaining normal retirement age, would be subject to a proportional reduction in benefits based on the worker's years of disability.

 

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
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.12
353
0.000.000.00
201212.8412.870.03
350
0.000.000.00
201312.8212.900.08
346
0.000.000.00
201412.8512.920.07
341
-0.020.000.02
201512.9512.94-0.01
336
-0.030.000.03
201613.0612.96-0.10
331
-0.050.000.04
201713.2412.99-0.25
326
-0.070.000.06
201813.4613.01-0.45
320
-0.090.000.09
201913.7213.02-0.69
313
-0.12-0.010.11
202013.9913.04-0.95
305
-0.15-0.010.15
202114.2613.06-1.21
296
-0.19-0.010.18
202214.5113.07-1.44
286
-0.23-0.010.22
202314.7513.09-1.66
276
-0.28-0.010.26
202414.9613.10-1.86
264
-0.33-0.020.31
202515.1613.11-2.05
252
-0.37-0.020.36
202615.3313.12-2.21
240
-0.43-0.020.40
202715.4813.13-2.34
226
-0.48-0.030.45
202815.6013.14-2.45
213
-0.53-0.030.51
202915.6913.15-2.54
199
-0.59-0.030.56
203015.7613.16-2.60
185
-0.65-0.030.61
203115.8013.16-2.64
170
-0.71-0.040.67
203215.8213.17-2.66
156
-0.77-0.040.72
203315.8313.17-2.66
141
-0.83-0.040.78
203415.8213.17-2.65
127
-0.89-0.050.84
203515.7813.17-2.61
112
-0.95-0.050.90
203615.7313.17-2.56
97
-1.01-0.060.95
203715.6713.17-2.50
83
-1.07-0.061.01
203815.5813.17-2.42
69
-1.13-0.061.07
203915.4913.16-2.33
55
-1.19-0.071.12
204015.3913.16-2.23
41
-1.25-0.071.18
204115.2913.16-2.13
27
-1.31-0.071.23
204215.1913.15-2.04
14
-1.37-0.081.29
204315.0913.15-1.94
1
-1.42-0.081.35
204414.9913.14-1.85
----
-1.48-0.081.40
204514.9013.14-1.76
----
-1.54-0.091.46
204614.8113.14-1.68
----
-1.60-0.091.51
204714.7313.13-1.60
----
-1.66-0.091.57
204814.6513.13-1.52
----
-1.72-0.101.63
204914.5713.13-1.45
----
-1.78-0.101.68
205014.5013.12-1.37
----
-1.84-0.101.73
205114.4313.12-1.31
----
-1.89-0.111.79
205214.3713.12-1.26
----
-1.95-0.111.84
205314.3213.11-1.21
----
-2.01-0.111.90
205414.2813.11-1.16
----
-2.07-0.121.95
205514.2413.11-1.13
----
-2.13-0.122.01
205614.2013.11-1.09
----
-2.19-0.122.07
205714.1713.11-1.06
----
-2.25-0.132.12
205814.1313.11-1.03
----
-2.31-0.132.18
205914.1013.11-0.99
----
-2.36-0.132.23
206014.0613.11-0.96
----
-2.42-0.142.28
206114.0313.10-0.93
----
-2.48-0.142.34
206214.0013.10-0.90
----
-2.53-0.142.39
206313.9713.10-0.87
----
-2.59-0.152.44
206413.9413.10-0.84
----
-2.64-0.152.49
206513.9213.10-0.82
----
-2.70-0.152.54
206613.9013.10-0.80
----
-2.75-0.162.59
206713.8913.10-0.79
----
-2.80-0.162.64
206813.8713.10-0.77
----
-2.85-0.162.69
206913.8713.10-0.77
----
-2.90-0.172.73
207013.8613.10-0.76
----
-2.95-0.172.78
207113.8613.10-0.76
----
-2.99-0.172.82
207213.8613.10-0.76
----
-3.03-0.172.86
207313.8613.10-0.76
----
-3.07-0.182.90
207413.8713.10-0.77
----
-3.11-0.182.93
207513.8813.10-0.78
----
-3.15-0.182.97
207613.8913.10-0.79
----
-3.18-0.183.00
207713.9013.10-0.80
----
-3.22-0.183.03
207813.9113.10-0.81
----
-3.25-0.193.06
207913.9313.11-0.82
----
-3.28-0.193.09
208013.9513.11-0.84
----
-3.30-0.193.12
208113.9613.11-0.85
----
-3.33-0.193.14
208213.9813.11-0.87
----
-3.36-0.193.16
208314.0013.11-0.89
----
-3.38-0.193.19
208414.0313.11-0.91
----
-3.40-0.203.21
208514.0513.11-0.93
----
-3.42-0.203.22



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 14.53% 13.93% -0.60%
2043
-1.40% -0.08% 1.32%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 2, 2011