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Table 1.--Indexing Factors and Average Wages 1951-2021

Year	National Wage Series	Indexing Factors for worker where first year of eligibility is in
		2007	2008	2009	2010	2011	2012	2013	2014
1951	2,799.16	13.2014390	13.8082175	14.4348590	14.7669194	14.5442240	14.8879771	15.3544671	15.8339180
1952	2,973.32	12.4281746	12.9994114	13.5893479	13.9019581	13.6923069	14.0159250	14.4550906	14.9064581
1953	3,139.44	11.7705514	12.3115619	12.8702826	13.1663513	12.9677936	13.2742878	13.6902155	14.1176993
1954	3,155.64	11.7101254	12.2483585	12.8042109	13.0987597	12.9012213	13.2061420	13.6199345	14.0452238
1955	3,301.44	11.1929764	11.7074398	12.2387443	12.5202851	12.3314705	12.6229251	13.0184435	13.4249509
1956	3,532.36	10.4612610	10.9412755	11.4386642	11.7017999	11.5253287	11.7977301	12.1673923	12.5473253
1957	3,641.72	10.1471118	10.6135041	11.0951638	11.3503976	11.1792258	11.4434471	11.8020084	12.1705321
1958	3,673.80	10.0585062	10.5208259	10.9982797	11.2512848	11.0816076	11.3435217	11.6989520	12.0642577
1959	3,855.80	9.5837284	10.0242258	10.4791431	10.7202059	10.5585378	10.8080891	11.1467426	11.4948052
1960	4,007.12	9.2218202	9.6456832	10.0834215	10.3153811	10.1598180	10.3999456	10.7258106	11.0607294
1961	4,086.76	9.0421116	9.4577147	9.8869226	10.1143620	9.9618304	10.1972785	10.5167933	10.8451854
1962	4,291.40	8.6109288	9.0067134	9.4154542	9.6320478	9.4867899	9.7110104	10.0152887	10.3280212
1963	4,396.64	8.4048137	8.7911246	9.1900815	9.4014907	9.2597097	9.4785632	9.7755582	10.0808049
1964	4,576.32	8.0748156	8.4459588	8.8292515	9.0323601	8.8961458	9.1064065	9.3917405	9.6850024
1965	4,658.72	7.9319942	8.2965729	8.6730862	8.8726023	8.7387974	8.9453391	9.2256264	9.5137012
1966	4,938.36	7.4828364	7.8267704	8.1819632	8.3701816	8.2439535	8.4387995	8.7032152	8.9749775
1967	5,213.44	7.0880148	7.4138016	7.7502532	7.9285405	7.8089726	7.9935379	8.2440020	8.5014252
1968	5,571.76	6.6321844	6.9370199	7.2518343	7.4186559	7.3067774	7.4794733	7.7138301	7.9546983
1969	5,893.76	6.2698413	6.5580224	6.8556371	7.0133446	6.9075785	7.0708393	7.2923923	7.5201009
1970	6,186.24	5.9734087	6.2479648	6.5315086	6.6817598	6.5809943	6.7365362	6.9476144	7.1645571
1971	6,497.08	5.6876227	5.9490433	6.2190215	6.3620842	6.2661396	6.4142399	6.6152195	6.8217830
1972	7,133.80	5.1799798	5.4180675	5.6639491	5.7942429	5.7068617	5.8417435	6.0247848	6.2129118
1973	7,580.16	4.8749551	5.0990230	5.3304257	5.4530472	5.3708114	5.4977507	5.6700136	5.8470626
1974	8,030.76	4.6014250	4.8129206	5.0313395	5.1470807	5.0694592	5.1892760	5.3518733	5.5189882
1975	8,630.92	4.2814601	4.4782491	4.6814801	4.7891731	4.7169491	4.8284343	4.9797252	5.1352197
1976	9,226.48	4.0050962	4.1891827	4.3792952	4.4800368	4.4124747	4.5167637	4.6582890	4.8037464
1977	9,779.44	3.7786356	3.9523132	4.1316763	4.2267216	4.1629797	4.2613718	4.3948948	4.5321276
1978	10,556.03	3.5006475	3.6615479	3.8277155	3.9157685	3.8567160	3.9478696	4.0715695	4.1987063
1979	11,479.46	3.2190486	3.3670059	3.5198067	3.6007765	3.5464743	3.6302953	3.7440446	3.8609543
1980	12,513.46	2.9530554	3.0887868	3.2289615	3.3032407	3.2534255	3.3303203	3.4346703	3.5419197
1981	13,773.10	2.6829791	2.8062971	2.9336518	3.0011377	2.9558785	3.0257408	3.1205473	3.2179880
1982	14,531.34	2.5429823	2.6598655	2.7805750	2.8445395	2.8016418	2.8678587	2.9577183	3.0500745
1983	15,239.24	2.4248545	2.5363082	2.6514104	2.7124036	2.6714987	2.7346397	2.8203250	2.9083911
1984	16,135.07	2.2902250	2.3954907	2.5042023	2.5618092	2.5231753	2.5828106	2.6637387	2.7469153
1985	16,822.51	2.1966365	2.2976007	2.4018699	2.4571226	2.4200675	2.4772659	2.5548869	2.6346645
1986	17,321.82	2.1333174	2.2313712	2.3326348	2.3862949	2.3503079	2.4058575	2.4812410	2.5587190
1987	18,426.51	2.0054226	2.0975980	2.1927907	2.2432338	2.2094043	2.2616236	2.3324878	2.4053209
1988	19,334.04	1.9112891	1.9991378	2.0898622	2.1379375	2.1056960	2.1554641	2.2230020	2.2924164
1989	20,099.55	1.8384959	1.9229988	2.0102679	2.0565122	2.0254986	2.0733713	2.1383369	2.2051076
1990	21,027.98	1.7573224	1.8380943	1.9215103	1.9657128	1.9360685	1.9818275	2.0439248	2.1077474
1991	21,811.60	1.6941875	1.7720575	1.8524767	1.8950911	1.8665119	1.9106269	1.9704932	2.0320229
1992	22,935.42	1.6111735	1.6852279	1.7617066	1.8022330	1.7750540	1.8170075	1.8739404	1.9324551
1993	23,132.67	1.5974351	1.6708581	1.7466847	1.7868655	1.7599183	1.8015140	1.8579615	1.9159773
1994	23,753.53	1.5556820	1.6271859	1.7010405	1.7401611	1.7139183	1.7544268	1.8093989	1.8658982
1995	24,705.66	1.4957277	1.5644759	1.6354746	1.6730972	1.6478657	1.6868131	1.7396665	1.7939885
1996	25,913.90	1.4259891	1.4915320	1.5592203	1.5950887	1.5710337	1.6081651	1.6585543	1.7103435
1997	27,426.00	1.3473689	1.4092981	1.4732546	1.5071454	1.4844166	1.5195008	1.5671119	1.6160457
1998	28,861.44	1.2803568	1.3392059	1.3999814	1.4321867	1.4105883	1.4439276	1.4891707	1.5356708
1999	30,469.84	1.2127711	1.2685137	1.3260811	1.3565864	1.3361281	1.3677075	1.4105624	1.4546079
2000	32,154.82	1.1492193	1.2020409	1.2565917	1.2854984	1.2661122	1.2960368	1.3366460	1.3783834
2001	32,921.92	1.1224418	1.1740327	1.2273124	1.2555455	1.2366110	1.2658384	1.3055013	1.3462663
2002	33,252.09	1.1112968	1.1623754	1.2151260	1.2430789	1.2243324	1.2532695	1.2925386	1.3328988
2003	34,064.95	1.0847789	1.1346387	1.1861306	1.2134164	1.1951173	1.2233639	1.2616960	1.3010931
2004	35,648.55	1.0365903	1.0842351	1.1334396	1.1595134	1.1420271	1.1690189	1.2056482	1.2432952
2005	36,952.94	1.0000000	1.0459631	1.0934307	1.1185841	1.1017150	1.1277541	1.1630904	1.1994085
2006	38,651.41	1.0000000	1.0000000	1.0453818	1.0694298	1.0533021	1.0781969	1.1119804	1.1467025
2007	40,405.48	1.0000000	1.0000000	1.0000000	1.0230041	1.0075764	1.0313905	1.0637074	1.0969222
2008	41,334.97	1.0000000	1.0000000	1.0000000	1.0000000	0.9849193	1.0081979	1.0397881	1.0722560
2009	40,711.61	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0236350	1.0557089	1.0886740
2010	41,673.83	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0313333	1.0635372
2011	42,979.61	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0312255
2012	44,321.67	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2013	44,888.16	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2014	46,481.52	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2015	48,098.63	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2016	48,642.15	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2017	50,321.89	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2018	52,145.80	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2019	54,099.99	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2020	55,628.60	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000
2021	60,575.07	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000	1.0000000

Table 2.--Employee Full Retirement Age with Less than 30 Years of Service

Year of Birth	Full Retirement Age	Annuity Reduction at Age 62 *
1937 or earlier	65	20.00%
1938	65 and 2 months	20.833%
1939	65 and 4 months	21.667%
1940	65 and 6 months	22.50%
1941	65 and 8 months	23.333%
1942	65 and 10 months	24.167%
1943 through 1954	66	25.00%
1955	66 and 2 months	25.833%
1956	66 and 4 months	26.667%
1957	66 and 6 months	27.50%
1958	66 and 8 months	28.333%
1959	66 and 10 months	29.167%
1960 or later	67	30.00%

*A person attains a given age the day before his or her birthday. Consequently, someone born on January 1 is considered to have been born on December 31 of the previous year.

Table 3.--Tier 1 Maximum Annual Taxable Earnings 1937-2023

Year	Annual Taxable Earnings
1937 - 1950	$3,000
1951 - 1954	3,600
1955 - 1958	4,200
1959 - 1965	4,800
1966 - 1967	6,600
1968 - 1971	7,800
1972	9,000
1973	10,800
1974	13,200
1975	14,100
1976	15,300
1977	16,500
1978	17,700
1979	22,900
1980	25,900
1981	29,700
1982	32,400
1983	35,700
1984	37,800
1985	39,600
1986	42,000
1987	43,800
1988	45,000
1989	48,000
1990	51,300
1991	53,400
1992	55,500
1993	57,600
1994	60,600
1995	61,200
1996	62,700
1997	65,400
1998	68,400
1999	72,600
2000	76,200
2001	80,400
2002	84,900
2003	87,000
2004	87,900
2005	90,000
2006	94,200
2007	97,500
2008	102,000
2009	106,800
2010	106,800
2011	106,800
2012	110,100
2013	113,700
2014	117,000
2015	118,500
2016	118,500
2017	127,200
2018	128,400
2019	132,900
2020	137,700
2021	142,800
2022	147,000
2023	160,200

Table 4.--Tier 2 Maximum Annual Taxable Earnings Base * 1973 - 2023

Year	Maximum Annual Taxable Earnings Base *
1973	$900
1974	1,100
1975	1,175
1976	1,275
1977	1,375
1978	1,475
1979	1,575
1980	1,700
1981	1,850
1982	2,025
1983	2,225
1984	2,350
1985	29,700
1986	31,500
1987	32,700
1988	33,600
1989	35,700
1990	38,100
1991	39,600
1992	41,400
1993	42,900
1994	45,000
1995	45,300
1996	46,500
1997	48,600
1998	50,700
1999	53,700
2000	56,700
2001	59,700
2002	63,000
2003	64,500
2004	65,100
2005	66,900
2006	69,900
2007	72,600
2008	75,900
2009	79,200
2010	79,200
2011	79,200
2012	81,900
2013	84,300
2014	87,000
2015	88,200
2016	88,200
2017	94,500
2018	95,400
2019	98,700
2020	102,300
2021	106,200
2022	109,200
2023	118,800

*Earnings bases are monthly through 1984 and annual for 1985 and later.

Table 5.--Bend Point Table Dollar Amounts (Bend Points) in PIA Formula 1979-2023

Year	First	Second
1979	$180	$1,085
1980	194	1,171
1981	211	1,274
1982	230	1,388
1983	254	1,528
1984	267	1,612
1985	280	1,691
1986	297	1,790
1987	310	1,866
1988	319	1,922
1989	339	2,044
1990	356	2,145
1991	370	2,230
1992	387	2,333
1993	401	2,420
1994	422	2,545
1995	426	2,567
1996	437	2,635
1997	455	2,741
1998	477	2,875
1999	505	3,043
2000	531	3,202
2001	561	3,381
2002	592	3,567
2003	606	3,653
2004	612	3,689
2005	627	3,779
2006	656	3,955
2007	680	4,100
2008	711	4,288
2009	744	4,483
2010	761	4,586
2011	749	4,517
2012	767	4,624
2013	791	4,768
2014	816	4,917
2015	826	4,980
2016	856	5,157
2017	885	5,336
2018	895	5,397
2019	926	5,583
2020	960	5,785
2021	996	6,002
2022	1,024	6,172
2023	1,115	6,721

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