Detailed Single Year Tables

Category of Change: Level of Monthly Benefits (PIA)
Proposed Provision: Progressive price indexing of PIA formula factors beginning with individuals newly
eligible for OASI benefits in 2012. 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 grows by inflation rather than the growth in average
wages. 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.
Expressed as a percentage of taxable payroll

Year

Cost Rate

Income
Rate

2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.20
12.47
12.74
13.03
13.31
13.59
13.87
14.14
14.40
14.66
14.90
15.14
15.37
15.58
15.75
15.90
16.03
16.14
16.23
16.29
16.31
16.32
16.32
16.29
16.25
16.19
16.13
16.07
16.00
15.94
15.87
15.81
15.75
15.70
15.64
15.59
15.54
15.50
15.46
15.43
15.40
15.37
15.34
15.32
15.29
15.27
15.25
15.23
15.21
15.20
15.18
15.17
15.15
15.14
15.12
15.10
15.08
15.06
15.04
15.01
14.99
14.96
14.94
14.92
14.90
14.88
14.86

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.97
12.99
13.01
13.03
13.04
13.06
13.07
13.09
13.10
13.12
13.13
13.14
13.15
13.16
13.17
13.18
13.18
13.19
13.19
13.19
13.19
13.19
13.19
13.19
13.19
13.18
13.18
13.18
13.18
13.18
13.17
13.17
13.17
13.17
13.17
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.14

Annual
Balance

Trust Fund
Ratio
1-1-year

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.21
0.98
0.72
0.47
0.21
-0.06
-0.32
-0.58
-0.84
-1.10
-1.35
-1.58
-1.81
-2.04
-2.26
-2.45
-2.61
-2.75
-2.87
-2.97
-3.05
-3.10
-3.13
-3.13
-3.12
-3.10
-3.06
-3.00
-2.94
-2.88
-2.82
-2.76
-2.69
-2.63
-2.58
-2.52
-2.47
-2.42
-2.38
-2.33
-2.30
-2.27
-2.23
-2.20
-2.18
-2.16
-2.13
-2.11
-2.09
-2.07
-2.05
-2.04
-2.03
-2.01
-2.00
-1.99
-1.97
-1.95
-1.93
-1.91
-1.88
-1.86
-1.84
-1.82
-1.79
-1.77
-1.75
-1.73
-1.71

320
337
355
370
383
394
404
410
415
418
418
418
415
411
406
400
392
383
373
363
351
338
325
311
297
282
267
252
236
221
205
190
174
158
143
127
111
96
80
64
49
33
17
2
-------------------------------------------------------------------------------------------------

Summarized Rates: OASDI
2005
-2079

Cost Rate
14.51%

Income Rate
13.80%

Change in
Actuarial
Balance Actuarial Balance
-0.71%
1.21%

Estimates based on Intermediate Assumptions of the 2005 Trustees Report

Office of the Chief Actuary, Social Security
January 13, 2006