Table 2a--Trust Fund Asset Comparison and PRSA Information of the Representative Nick Smith Proposal
IA proceeds go to estate if worker dies before entitlement Ultimate Real Trust Fund Interest Rate 3.00 Ultimate Real PRSA Rate for Offset 3.70 Assumed PRSA Participation Rate 67%
Year
Present Law Trust Fund Assets, End of Year
Proposal Trust Fund Assets, End of Year
IA/Annuity Assets, End of Year
PRSA Contributions in Year
PRSA Disbursements in Year 1/
(In Billions of Present Value Dollars as of 1/1/2003)
2003
1,453
1,453
2004
1,529
1,528
0
0.0
0.0
2005
1,611
1,530
80
79.8
0.0
2006
1,695
1,541
162
79.6
0.1
2007
1,779
1,573
245
79.2
0.2
2008
1,861
1,624
328
78.6
0.4
2009
1,937
1,692
411
77.9
0.7
2010
2,007
1,776
495
77.2
1.1
2011
2,071
1,880
579
76.3
1.5
2012
2,128
2,006
662
75.4
2.0
2013
2,174
2,124
746
74.5
2.6
2014
2,211
2,126
829
73.6
3.2
2015
2,237
2,124
912
72.6
3.9
2016
2,251
2,117
994
71.6
4.7
2017
2,254
2,106
1,076
70.6
5.6
2018
2,245
2,091
1,157
69.6
6.5
2019
2,224
2,071
1,237
68.6
7.5
2020
2,191
2,047
1,316
67.6
8.6
2021
2,147
2,018
1,394
66.7
9.8
2022
2,092
1,984
1,471
65.7
11.0
2023
2,027
1,949
1,547
64.7
12.3
2024
1,954
1,910
1,621
63.7
13.6
2025
1,873
1,870
1,694
62.8
15.1
2026
1,785
1,824
1,770
67.3
16.6
2027
1,690
1,777
1,845
66.3
18.1
2028
1,589
1,731
1,918
65.3
19.8
2029
1,483
1,685
1,990
64.4
21.4
2030
1,372
1,641
2,059
63.4
23.2
2031
1,259
1,599
2,126
62.5
25.0
2032
1,144
1,559
2,191
61.6
26.9
2033
1,026
1,524
2,254
60.7
28.8
2034
908
1,492
2,314
59.8
30.8
2035
789
1,464
2,372
58.9
32.9
2036
671
1,441
2,427
58.0
35.0
2037
552
1,422
2,480
57.2
37.1
2038
435
1,408
2,529
56.3
39.3
2039
319
1,385
2,589
68.9
41.5
2040
204
1,359
2,655
76.7
43.8
2041
91
1,329
2,726
84.2
46.1
2042
--
1,291
2,807
95.7
48.5
2043
--
1,247
2,896
106.9
51.0
2044
--
1,195
2,994
117.6
53.5
2045
--
1,137
3,100
128.0
56.2
2046
--
1,076
3,211
134.0
58.8
2047
--
1,021
3,318
131.8
61.4
2048
--
971
3,421
129.7
64.0
2049
--
927
3,521
127.6
66.5
2050
--
887
3,617
125.5
69.0
2051
--
853
3,710
123.4
71.5
2052
--
822
3,799
121.4
74.0
2053
--
797
3,884
119.4
76.4
2054
--
775
3,966
117.4
78.8
2055
--
757
4,045
115.5
81.1
2056
--
743
4,120
113.6
83.4
2057
--
733
4,192
111.8
85.7
2058
--
725
4,261
110.0
87.9
2059
--
722
4,326
108.2
90.1
2060
--
721
4,387
106.4
92.3
2061
--
724
4,446
104.7
94.4
2062
--
729
4,501
103.0
96.5
2063
--
738
4,553
101.3
98.5
2064
--
749
4,602
99.6
100.5
2065
--
762
4,652
98.0
102.5
2066
--
778
4,699
96.4
104.5
2067
--
796
4,743
94.8
106.3
2068
--
815
4,783
93.2
108.2
2069
--
837
4,821
91.7
110.0
2070
--
860
4,856
90.2
111.8
2071
--
884
4,888
88.7
113.5
2072
--
909
4,916
87.2
115.2
2073
--
936
4,942
85.7
116.9
2074
--
963
4,965
84.3
118.6
2075
--
992
4,984
82.9
120.2
2076
--
1,021
5,001
81.5
121.8
2077
--
1,051
5,014
80.1
123.4
Based on Intermediate Assumptions of the 2003 Trustees Report. 1/ Excludes proceeds of PRSAs that go to the worker's estate if the worker dies before entitlement.
Office of the Chief Actuary Social Security Administration September 9, 2003