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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2024, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017, with the threshold wage-indexed after 2024. Do not provide benefit credit for additional earnings taxed.

 

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
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.29-1.73
183
0.000.200.20
202515.2813.32-1.97
167
0.000.210.21
202615.4713.33-2.14
151
0.000.210.21
202715.6513.35-2.30
136
0.000.210.21
202815.8113.36-2.45
120
0.000.210.21
202915.9713.38-2.59
104
0.000.210.21
203016.1013.39-2.71
88
0.000.210.21
203116.2213.40-2.82
72
0.000.210.21
203216.3313.41-2.92
56
0.000.210.21
203316.4113.41-2.99
39
0.000.210.21
203416.4613.42-3.04
21
0.000.210.21
203516.5013.42-3.07
3
0.000.210.21
203616.5513.43-3.13
----
0.000.210.21
203716.6013.43-3.16
----
0.000.210.21
203816.6113.44-3.18
----
0.000.210.21
203916.6113.44-3.17
----
0.000.210.21
204016.5913.44-3.15
----
0.000.210.21
204116.5613.44-3.12
----
0.000.210.21
204216.5313.44-3.09
----
0.000.210.21
204316.5013.44-3.06
----
0.000.210.21
204416.4713.44-3.03
----
0.000.210.21
204516.4513.44-3.01
----
0.000.210.21
204616.4213.44-2.98
----
0.000.210.21
204716.4013.44-2.96
----
0.000.210.21
204816.3813.44-2.94
----
0.000.210.21
204916.3713.44-2.93
----
0.000.210.21
205016.3513.44-2.92
----
0.000.210.21
205116.3613.44-2.91
----
0.000.210.21
205216.3713.44-2.93
----
0.000.210.21
205316.3913.44-2.94
----
0.000.210.21
205416.4213.45-2.97
----
0.000.210.21
205516.4613.45-3.01
----
0.000.210.21
205616.5013.45-3.05
----
0.000.210.21
205716.5513.46-3.09
----
0.000.210.21
205816.6013.46-3.14
----
-0.010.210.21
205916.6513.47-3.19
----
-0.010.210.21
206016.7013.47-3.23
----
-0.010.210.21
206116.7513.47-3.28
----
-0.010.210.21
206216.8013.48-3.32
----
-0.010.210.21
206316.8513.48-3.37
----
-0.010.210.21
206416.9013.48-3.41
----
-0.010.210.21
206516.9513.49-3.46
----
-0.010.210.21
206617.0013.49-3.51
----
-0.010.210.22
206717.0513.50-3.56
----
-0.010.210.22
206817.1113.50-3.61
----
-0.010.210.22
206917.1613.50-3.66
----
-0.010.210.22
207017.2113.51-3.70
----
-0.010.210.22
207117.2613.51-3.75
----
-0.010.210.22
207217.3013.51-3.78
----
-0.010.210.22
207317.3313.51-3.82
----
-0.010.210.22
207417.3613.52-3.84
----
-0.010.210.22
207517.3813.52-3.86
----
-0.010.210.22
207617.4013.52-3.88
----
-0.010.210.22
207717.4013.52-3.88
----
-0.010.210.22
207817.4013.52-3.88
----
-0.010.210.22
207917.4013.52-3.88
----
-0.010.210.22
208017.3913.52-3.87
----
-0.010.210.22
208117.3913.52-3.87
----
-0.010.210.22
208217.4013.52-3.88
----
-0.010.210.22
208317.4113.52-3.89
----
-0.010.210.22
208417.4313.52-3.91
----
-0.010.210.22
208517.4613.53-3.93
----
-0.010.210.22
208617.5013.53-3.97
----
-0.010.210.22
208717.5313.53-4.00
----
-0.010.210.22
208817.5813.53-4.04
----
-0.010.210.22
208917.6213.54-4.09
----
-0.010.210.22
209017.6713.54-4.13
----
-0.010.210.22
209117.7113.54-4.17
----
-0.010.210.22



 

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 16.50% 14.03% -2.47%
2035
-0.00% 0.18% 0.19%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016