Kasich's Proposal for OASI
October 16, 2000
This table is the result of a calculation which diverted 2% from the OASI tax to a private account. The interest rate earned was 7% with an inflation rate of 2.9%. The average wage was used as the basis for the tax and the diverted PSA amount. 19 years was used as the retirement term. Annuity listed is the first years amount with each passing year increased by inflation.
| PSA ACCOUNTS
BALANCE AT RETIREMENT AND ANNUITY IT WOULD PAY | ||||||
| YEAR | BALANCE | ANNUITY | YEAR | BALANCE | ANNUITY | |
| 2010 | $11,273 | $882 | 2046 | $406,143 | $31,778 | |
| 2011 | $13,208 | $1,033 | 2047 | $420,358 | $32,890 | |
| 2012 | $15,322 | $1,199 | 2048 | $435,071 | $34,041 | |
| 2013 | $17,630 | $1,379 | 2049 | $450,298 | $35,233 | |
| 2014 | $20,147 | $1,576 | 2050 | $466,059 | $36,466 | |
| 2015 | $22,890 | $1,791 | 2051 | $482,371 | $37,742 | |
| 2016 | $25,875 | $2,025 | 2052 | $499,254 | $39,063 | |
| 2017 | $29,123 | $2,279 | 2053 | $516,727 | $40,430 | |
| 2018 | $32,654 | $2,555 | 2054 | $534,813 | $41,845 | |
| 2019 | $36,490 | $2,855 | 2055 | $553,531 | $43,310 | |
| 2020 | $40,655 | $3,181 | 2056 | $572,905 | $44,826 | |
| 2021 | $45,175 | $3,535 | 2057 | $592,957 | $46,395 | |
| 2022 | $50,076 | $3,918 | 2058 | $613,710 | $48,019 | |
| 2023 | $55,389 | $4,334 | 2059 | $635,190 | $49,699 | |
| 2024 | $61,146 | $4,784 | 2060 | $657,422 | $51,439 | |
| 2025 | $67,380 | $5,272 | 2061 | $680,431 | $53,239 | |
| 2026 | $74,128 | $5,800 | 2062 | $704,246 | $55,102 | |
| 2027 | $81,430 | $6,371 | 2063 | $728,895 | $57,031 | |
| 2028 | $89,327 | $6,989 | 2064 | $754,406 | $59,027 | |
| 2029 | $97,866 | $7,657 | 2065 | $780,811 | $61,093 | |
| 2030 | $107,095 | $8,379 | 2066 | $808,139 | $63,231 | |
| 2031 | $117,067 | $9,160 | 2067 | $836,424 | $65,444 | |
| 2032 | $127,837 | $10,002 | 2068 | $865,699 | $67,735 | |
| 2033 | $139,467 | $10,912 | 2069 | $895,998 | $70,106 | |
| 2034 | $152,021 | $11,895 | 2070 | $927,358 | $72,559 | |
| 2035 | $165,569 | $12,955 | 2071 | $959,816 | $75,099 | |
| 2036 | $180,186 | $14,098 | 2072 | $993,409 | $77,728 | |
| 2037 | $195,953 | $15,332 | 2073 | $1,028,179 | $80,448 | |
| 2038 | $212,955 | $16,662 | 2074 | $1,064,165 | $83,264 | |
| 2039 | $231,285 | $18,096 | 2075 | $1,101,411 | $86,178 | |
| 2040 | $251,044 | $19,642 | 2076 | $1,139,960 | $89,194 | |
| 2041 | $272,337 | $21,308 | 2077 | $1,179,858 | $92,316 | |
| 2042 | $295,279 | $23,104 | 2078 | $1,221,154 | $95,547 | |
| 2043 | $319,994 | $25,037 | 2079 | $1,263,894 | $98,891 | |
| 2044 | $346,613 | $27,120 | 2080 | $1,308,130 | $102,352 | |
| 2045 | $375,279 | $29,363 | ||||
