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Detailed Single Year Tables

Description of Proposed Provision:
Progressive price indexing (40th percentile) of PIA formula factors for individuals newly eligible for OASI benefits in 2019 through 2056: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefit credit for earners at the 40th percentile and below. Reduce the 32 and 15 formula factors above the 40th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in average wages. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired worker beneficiary status. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.

 

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
201113.3512.52-0.82
353
0.000.000.00
201213.2312.87-0.36
347
0.000.000.00
201313.1812.87-0.31
341
0.000.000.00
201413.1812.92-0.27
334
0.000.000.00
201513.2412.94-0.30
328
0.000.000.00
201613.3312.97-0.36
321
0.000.000.00
201713.4613.00-0.46
314
0.000.000.00
201813.6213.03-0.59
306
0.000.000.00
201913.8813.04-0.84
296
0.000.000.00
202014.1913.06-1.13
284
0.000.000.00
202114.5113.08-1.43
272
-0.010.000.01
202214.8113.10-1.71
259
-0.020.000.02
202315.1013.11-1.98
245
-0.030.000.03
202415.3613.13-2.23
231
-0.040.000.04
202515.6113.15-2.46
216
-0.060.000.06
202615.8413.16-2.68
201
-0.090.000.08
202716.0313.17-2.86
184
-0.11-0.010.11
202816.2013.18-3.02
167
-0.14-0.010.14
202916.3413.19-3.15
150
-0.18-0.010.17
203016.4513.20-3.25
132
-0.21-0.010.20
203116.5113.21-3.31
114
-0.25-0.010.23
203216.5713.21-3.36
95
-0.29-0.020.27
203316.6013.22-3.38
76
-0.33-0.020.31
203416.6113.22-3.39
57
-0.37-0.020.35
203516.6013.22-3.38
38
-0.42-0.020.39
203616.5713.22-3.35
19
-0.46-0.030.44
203716.5313.22-3.31
----
-0.51-0.030.48
203816.4613.22-3.24
----
-0.56-0.030.53
203916.3813.21-3.16
----
-0.61-0.030.58
204016.2913.21-3.08
----
-0.66-0.040.63
204116.2013.21-2.99
----
-0.72-0.040.68
204216.1013.20-2.90
----
-0.77-0.040.73
204316.0113.20-2.81
----
-0.83-0.050.78
204415.9313.20-2.73
----
-0.89-0.050.84
204515.8413.19-2.65
----
-0.95-0.050.89
204615.7513.19-2.57
----
-1.01-0.060.95
204715.6713.18-2.49
----
-1.07-0.061.01
204815.5913.18-2.41
----
-1.13-0.061.06
204915.5113.18-2.34
----
-1.19-0.071.12
205015.4413.17-2.27
----
-1.25-0.071.18
205115.3713.17-2.20
----
-1.31-0.071.23
205215.3113.17-2.14
----
-1.37-0.081.29
205315.2613.17-2.09
----
-1.43-0.081.35
205415.2113.16-2.05
----
-1.49-0.081.41
205515.1713.16-2.01
----
-1.55-0.091.46
205615.1313.16-1.97
----
-1.61-0.091.52
205715.0913.16-1.93
----
-1.67-0.091.58
205815.0513.16-1.89
----
-1.73-0.101.63
205915.0113.16-1.85
----
-1.79-0.101.69
206014.9613.15-1.81
----
-1.84-0.101.74
206114.9213.15-1.77
----
-1.89-0.111.79
206214.8813.15-1.73
----
-1.94-0.111.83
206314.8513.15-1.70
----
-1.99-0.111.88
206414.8213.15-1.67
----
-2.03-0.121.92
206514.7913.15-1.64
----
-2.08-0.121.96
206614.7713.15-1.63
----
-2.12-0.122.00
206714.7613.15-1.61
----
-2.15-0.122.03
206814.7513.15-1.61
----
-2.19-0.132.06
206914.7513.15-1.60
----
-2.22-0.132.10
207014.7513.15-1.60
----
-2.26-0.132.13
207114.7513.15-1.60
----
-2.29-0.132.15
207214.7513.15-1.61
----
-2.31-0.132.18
207314.7613.15-1.62
----
-2.34-0.132.21
207414.7813.15-1.63
----
-2.37-0.142.23
207514.7913.15-1.64
----
-2.39-0.142.25
207614.8013.15-1.65
----
-2.41-0.142.27
207714.8213.15-1.67
----
-2.43-0.142.29
207814.8413.15-1.68
----
-2.45-0.142.31
207914.8613.15-1.70
----
-2.47-0.142.32
208014.8813.16-1.72
----
-2.48-0.142.34
208114.9013.16-1.75
----
-2.50-0.142.35
208214.9313.16-1.77
----
-2.51-0.142.37
208314.9613.16-1.80
----
-2.52-0.152.38
208414.9813.16-1.82
----
-2.53-0.152.39
208515.0113.16-1.85
----
-2.54-0.152.40
208615.0413.17-1.87
----
-2.55-0.152.41



 

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 2011 Trustees Report.
2011-2085 15.28% 13.97% -1.31%
2036
-0.97% -0.05% 0.92%
 
1 Under present law, the year of exhaustion is 2036.

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Last reviewed or modified January 4, 2012