Proposed Provision: B3.14. Beginning with those newly eligible for OASDI benefits in 2024, reduce the 15 percent PIA factor by 2 percentage points per year so that it reaches 5 percent for those newly eligible in 2028 and later.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
202212.812.814.114.1
202313.013.014.314.3
202413.013.014.414.4
202513.013.014.714.7
202613.113.114.914.9
202713.113.115.115.1
202813.113.115.315.3
202913.213.215.515.5
203013.213.215.715.7
203113.213.215.915.9
203213.213.216.116.0
203313.313.316.216.1
203413.313.316.316.2
203513.313.316.416.3
203613.313.316.516.3
203713.313.316.616.4
203813.313.316.616.4
203913.313.316.716.5
204013.313.316.716.5
204113.313.316.716.5
204213.313.316.816.5
204313.313.316.816.5
204413.313.316.816.5
204513.313.316.816.5
204613.313.316.816.5
204713.313.316.916.5
204813.313.316.916.5
204913.313.316.916.5
205013.313.316.916.5
205113.313.317.016.5
205213.313.317.016.5
205313.313.317.116.6
205413.313.317.116.6
205513.313.317.116.6
205613.313.317.216.7
205713.313.317.316.7
205813.413.317.316.8
205913.413.317.416.9
206013.413.317.516.9
206113.413.317.517.0
206213.413.317.617.0
206313.413.317.617.1
206413.413.317.717.1
206513.413.317.717.2
206613.413.417.817.2
206713.413.417.817.3
206813.413.417.917.3
206913.413.417.917.4
207013.413.418.017.4
207113.413.418.117.5
207213.413.418.117.5
207313.413.418.217.6
207413.413.418.217.6
207513.413.418.317.7
207613.413.418.317.7
207713.413.418.317.7
207813.413.418.317.7
207913.413.418.317.7
208013.413.418.317.7
208113.413.418.317.7
208213.413.418.217.7
208313.413.418.217.6
208413.413.418.217.6
208513.413.418.117.5
208613.413.418.017.5
208713.413.418.017.4
208813.413.417.917.3
208913.413.417.917.3
209013.413.417.817.2
209113.413.417.717.2
209213.413.417.717.1
209313.413.417.717.1
209413.413.417.717.1
209513.413.417.617.1
209613.413.417.617.1
209713.413.417.617.1
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