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Detailed Single Year Tables

Description of Proposed Provision:
E2.2: Eliminate the taxable maximum in years 2018 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Current Law
  Expressed as a percentage of
current-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
current-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201713.4113.03-0.38
298
0.000.000.00
201813.4915.121.63
287
0.002.192.19
201913.6915.271.57
288
0.002.322.33
202013.8515.291.44
290
0.002.332.33
202114.0215.331.31
291
0.002.332.33
202214.2715.351.09
291
0.012.332.32
202314.5615.360.80
289
0.022.322.30
202414.8615.400.54
286
0.032.312.29
202515.1415.420.28
282
0.042.322.28
202615.4315.450.02
276
0.052.322.26
202715.6915.47-0.22
270
0.072.322.25
202815.9415.49-0.45
264
0.082.322.24
202916.1715.51-0.66
258
0.102.322.22
203016.3915.52-0.86
252
0.122.332.21
203116.5915.54-1.05
246
0.142.332.19
203216.7615.55-1.21
240
0.162.332.18
203316.9215.56-1.35
234
0.182.342.16
203417.0415.57-1.47
227
0.202.342.14
203517.1415.58-1.56
219
0.222.342.13
203617.2215.59-1.63
212
0.242.342.11
203717.2815.60-1.68
204
0.262.352.09
203817.3015.60-1.70
197
0.282.352.08
203917.2915.60-1.69
189
0.292.352.06
204017.2715.60-1.67
182
0.312.362.04
204117.2515.61-1.64
174
0.332.362.03
204217.2115.61-1.61
167
0.352.362.01
204317.1815.61-1.57
160
0.372.372.00
204417.1515.61-1.54
153
0.392.371.98
204517.1315.61-1.52
146
0.412.371.96
204617.1115.61-1.50
138
0.432.381.95
204717.0915.61-1.48
131
0.452.381.93
204817.0815.61-1.47
124
0.472.381.92
204917.0715.62-1.46
117
0.482.381.90
205017.0715.62-1.45
110
0.502.391.88
205117.0815.62-1.46
103
0.522.391.87
205217.1015.63-1.47
96
0.542.391.85
205317.1315.63-1.50
88
0.562.401.84
205417.1715.63-1.53
80
0.582.401.82
205517.2215.64-1.58
72
0.602.401.81
205617.2715.65-1.63
64
0.622.411.79
205717.3315.65-1.68
55
0.632.411.77
205817.3915.66-1.73
46
0.652.411.76
205917.4515.66-1.79
37
0.672.411.75
206017.5115.67-1.84
27
0.692.421.73
206117.5815.68-1.90
17
0.702.421.72
206217.6415.68-1.96
7
0.722.421.71
206317.7015.69-2.01
----
0.732.431.70
206417.7615.69-2.06
----
0.742.431.69
206517.8215.70-2.12
----
0.752.431.68
206617.8815.70-2.18
----
0.762.431.67
206717.9415.71-2.23
----
0.772.441.66
206818.0115.72-2.29
----
0.782.441.65
206918.0715.72-2.35
----
0.792.441.65
207018.1315.73-2.40
----
0.802.441.64
207118.1815.73-2.45
----
0.812.441.63
207218.2315.74-2.49
----
0.822.451.63
207318.2715.74-2.53
----
0.822.451.62
207418.3115.75-2.56
----
0.832.451.62
207518.3415.75-2.59
----
0.842.451.62
207618.3615.75-2.61
----
0.842.451.61
207718.3715.75-2.61
----
0.842.461.61
207818.3715.76-2.61
----
0.852.461.61
207918.3615.76-2.61
----
0.852.461.61
208018.3615.76-2.60
----
0.852.461.61
208118.3615.76-2.60
----
0.852.461.61
208218.3615.76-2.60
----
0.852.461.61
208318.3615.76-2.60
----
0.852.461.61
208418.3815.76-2.62
----
0.852.471.61
208518.4115.77-2.64
----
0.862.471.61
208618.4415.77-2.67
----
0.862.471.61
208718.4815.77-2.70
----
0.862.471.61
208818.5215.78-2.74
----
0.862.471.61
208918.5715.78-2.78
----
0.872.471.61
209018.6215.79-2.83
----
0.872.481.61
209118.6715.79-2.88
----
0.872.481.60
209218.7215.80-2.92
----
0.872.481.60



 

Summarized Estimates

 
  Proposal
  Change from Current 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 2017 Trustees Report.
2017-2091 17.13% 16.19% -0.94%
2062
0.46% 2.35% 1.89%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017