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Detailed Single Year Tables

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2022-2041, until the rate reaches 14.4 percent in 2041 and later.

 

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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.13-1.37
216
0.000.090.09
202314.7613.24-1.51
200
0.000.190.19
202415.0213.37-1.65
184
0.000.280.28
202515.2813.49-1.80
169
0.000.380.38
202615.4713.60-1.87
154
0.000.470.47
202715.6513.71-1.94
141
0.000.570.57
202815.8113.82-1.99
127
0.000.660.66
202915.9613.93-2.04
114
0.000.760.76
203016.1014.03-2.07
102
0.000.850.86
203116.2214.14-2.08
90
0.000.950.95
203216.3214.24-2.08
78
0.001.041.05
203316.4014.34-2.06
66
0.001.141.14
203416.4614.44-2.02
54
0.001.231.24
203516.4914.54-1.95
42
0.001.331.33
203616.5514.64-1.91
31
-0.011.421.43
203716.5914.74-1.85
20
-0.011.521.52
203816.6114.84-1.77
10
-0.011.611.62
203916.6014.94-1.67
----
-0.011.701.71
204016.5815.03-1.55
----
-0.011.801.81
204116.5515.12-1.43
----
-0.011.891.90
204216.5215.13-1.39
----
-0.011.901.91
204316.4915.13-1.36
----
-0.011.901.91
204416.4615.13-1.33
----
-0.011.901.91
204516.4415.13-1.31
----
-0.011.901.91
204616.4115.13-1.28
----
-0.011.901.91
204716.3915.13-1.26
----
-0.021.901.91
204816.3715.13-1.24
----
-0.021.901.92
204916.3515.13-1.22
----
-0.021.901.92
205016.3415.13-1.21
----
-0.021.901.92
205116.3415.13-1.21
----
-0.021.901.92
205216.3515.13-1.21
----
-0.021.901.92
205316.3715.14-1.23
----
-0.021.901.92
205416.4015.14-1.26
----
-0.031.901.93
205516.4415.14-1.29
----
-0.031.901.93
205616.4815.15-1.33
----
-0.031.901.93
205716.5315.15-1.37
----
-0.031.901.93
205816.5715.16-1.42
----
-0.031.901.93
205916.6215.16-1.46
----
-0.031.901.94
206016.6715.16-1.51
----
-0.041.901.94
206116.7215.17-1.55
----
-0.041.901.94
206216.7715.17-1.60
----
-0.041.901.94
206316.8215.18-1.64
----
-0.041.901.94
206416.8615.18-1.68
----
-0.041.901.95
206516.9115.18-1.73
----
-0.041.901.95
206616.9615.19-1.77
----
-0.051.901.95
206717.0115.19-1.82
----
-0.051.901.95
206817.0615.19-1.87
----
-0.051.901.95
206917.1115.20-1.92
----
-0.051.901.96
207017.1615.20-1.96
----
-0.051.911.96
207117.2115.21-2.00
----
-0.051.911.96
207217.2515.21-2.04
----
-0.061.911.96
207317.2815.21-2.07
----
-0.061.911.96
207417.3115.21-2.10
----
-0.061.911.96
207517.3315.22-2.12
----
-0.061.911.97
207617.3415.22-2.13
----
-0.061.911.97
207717.3515.22-2.13
----
-0.061.911.97
207817.3515.22-2.13
----
-0.061.911.97
207917.3415.22-2.12
----
-0.061.911.97
208017.3415.22-2.12
----
-0.061.911.97
208117.3415.22-2.11
----
-0.061.911.97
208217.3415.22-2.12
----
-0.071.911.98
208317.3515.22-2.13
----
-0.071.911.98
208417.3715.22-2.15
----
-0.071.911.98
208517.4015.23-2.17
----
-0.071.911.98
208617.4415.23-2.21
----
-0.071.911.98
208717.4715.23-2.24
----
-0.071.911.98
208817.5215.24-2.28
----
-0.071.911.98
208917.5615.24-2.32
----
-0.071.911.98
209017.6115.24-2.36
----
-0.071.911.98
209117.6515.25-2.41
----
-0.071.911.98



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 16.48% 15.27% -1.21%
2038
-0.03% 1.43% 1.45%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016