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Detailed Single Year Tables

Description of Proposed Provision:
Eliminate the taxable maximum for years 2018 and later (phased in 2012-2017), and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum, using a secondary PIA formula with two new bend points (one at the current-law taxable maximum and one 134 percent higher than the current-law taxable maximum), and apply formula factors of 3 percent and 0.25 percent, respectively.

 

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
201213.2313.17-0.06
347
0.000.300.30
201313.1813.490.31
343
0.000.630.63
201413.1813.880.70
341
0.000.960.96
201513.2414.230.99
341
0.001.291.29
201613.3314.591.27
344
0.001.621.62
201713.4614.961.50
348
0.001.961.96
201813.6215.321.70
354
0.002.292.29
201913.8815.361.48
359
0.002.322.32
202014.2015.371.17
362
0.002.312.31
202114.5215.390.87
364
0.002.312.31
202214.8315.410.58
365
0.002.312.31
202315.1315.430.30
365
0.002.312.31
202415.4015.450.04
364
0.002.312.31
202515.6715.46-0.21
363
0.002.322.32
202615.9315.48-0.44
361
0.002.322.32
202716.1515.50-0.65
358
0.002.322.32
202816.3515.51-0.84
354
0.002.322.32
202916.5215.52-1.00
350
0.002.322.32
203016.6615.53-1.13
346
0.002.322.32
203116.7715.54-1.22
341
0.012.322.32
203216.8615.55-1.31
336
0.012.322.32
203316.9415.56-1.38
331
0.012.322.32
203416.9915.56-1.42
326
0.012.332.32
203517.0215.57-1.45
321
0.012.332.32
203617.0415.57-1.47
316
0.012.332.32
203717.0515.58-1.47
311
0.012.332.32
203817.0315.58-1.45
307
0.012.332.32
203917.0015.58-1.42
302
0.012.332.32
204016.9715.58-1.39
298
0.012.332.32
204116.9315.58-1.35
294
0.012.332.32
204216.8915.58-1.31
291
0.012.332.32
204316.8515.58-1.27
287
0.012.332.32
204416.8315.58-1.25
284
0.012.332.32
204516.8015.58-1.22
281
0.022.342.32
204616.7715.58-1.19
278
0.022.342.32
204716.7615.58-1.17
274
0.022.342.32
204816.7415.58-1.15
271
0.022.342.32
204916.7215.58-1.13
268
0.022.342.32
205016.7015.59-1.12
266
0.022.342.32
205116.7015.59-1.11
263
0.022.342.33
205216.7015.59-1.11
259
0.022.342.33
205316.7115.59-1.11
256
0.022.352.33
205416.7215.60-1.12
253
0.022.352.33
205516.7415.60-1.14
249
0.022.352.33
205616.7615.60-1.16
246
0.022.352.33
205716.7815.60-1.18
242
0.022.352.33
205816.8015.61-1.19
238
0.022.352.33
205916.8115.61-1.20
234
0.022.352.33
206016.8215.61-1.21
230
0.022.352.34
206116.8315.62-1.22
226
0.022.362.34
206216.8415.62-1.22
222
0.022.362.34
206316.8515.62-1.23
217
0.022.362.34
206416.8715.62-1.25
213
0.022.362.34
206516.8915.63-1.26
208
0.022.362.34
206616.9115.63-1.28
203
0.022.362.34
206716.9315.63-1.30
198
0.022.362.35
206816.9615.64-1.32
193
0.022.372.35
206916.9915.64-1.35
188
0.022.372.35
207017.0215.64-1.38
182
0.022.372.35
207117.0515.65-1.41
176
0.022.372.35
207217.0915.65-1.44
170
0.022.372.35
207317.1215.65-1.47
164
0.022.372.35
207417.1615.66-1.50
157
0.022.372.35
207517.2015.66-1.54
151
0.022.382.36
207617.2315.67-1.57
144
0.022.382.36
207717.2715.67-1.60
136
0.022.382.36
207817.3115.67-1.63
129
0.022.382.36
207917.3415.68-1.67
121
0.022.382.36
208017.3815.68-1.70
113
0.022.382.36
208117.4215.68-1.74
105
0.022.382.36
208217.4615.69-1.77
96
0.022.392.36
208317.5015.69-1.81
87
0.022.392.36
208417.5415.70-1.84
78
0.022.392.36
208517.5815.70-1.88
69
0.022.392.37
208617.6215.70-1.91
59
0.022.392.37



 

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 16.26% 16.20% -0.06%
N/A
0.01% 2.17% 2.16%
 
1 Under present law, the year of exhaustion is 2036.

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Last reviewed or modified December 21, 2011