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Detailed Single Year Tables

Description of Proposed Provision:
Increase the taxable maximum such that 90 percent of earnings are subject to the payroll tax (phased in 2017-2026). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2017-2026). Provide benefit credit for earnings taxed up to the revised taxable maximum.

 

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
201713.7213.18-0.54
293
0.000.260.26
201813.8613.48-0.38
279
0.000.520.52
201913.9913.71-0.28
267
0.000.740.74
202014.1313.91-0.22
256
0.000.930.93
202114.2714.11-0.17
248
0.001.101.10
202214.4914.29-0.21
239
0.001.251.25
202314.7614.44-0.33
230
0.011.381.37
202415.0314.58-0.45
221
0.011.491.48
202515.3014.70-0.60
212
0.021.591.57
202615.4914.81-0.68
205
0.021.691.66
202715.6814.83-0.84
197
0.031.691.66
202815.8514.85-1.00
190
0.041.691.65
202916.0114.86-1.15
183
0.051.691.64
203016.1614.87-1.29
176
0.061.691.64
203116.2914.89-1.41
169
0.071.701.63
203216.4114.90-1.51
161
0.081.701.61
203316.5014.90-1.60
153
0.091.701.60
203416.5714.91-1.66
144
0.111.701.59
203516.6214.92-1.70
136
0.121.701.58
203616.6914.92-1.77
127
0.131.701.57
203716.7514.93-1.82
117
0.151.701.55
203816.7814.93-1.84
108
0.161.701.54
203916.7914.94-1.85
98
0.181.701.53
204016.7814.94-1.84
88
0.191.711.51
204116.7714.94-1.83
78
0.211.711.50
204216.7514.94-1.81
69
0.221.711.49
204316.7414.94-1.80
59
0.241.711.47
204416.7214.94-1.78
49
0.251.711.46
204516.7214.94-1.78
39
0.271.711.44
204616.7114.94-1.77
29
0.281.711.43
204716.7014.94-1.76
19
0.301.711.41
204816.7014.95-1.76
9
0.321.711.40
204916.7014.95-1.75
----
0.331.721.38
205016.7114.95-1.76
----
0.351.721.37
205116.7214.95-1.77
----
0.361.721.35
205216.7514.95-1.80
----
0.381.721.34
205316.7914.96-1.83
----
0.401.721.32
205416.8414.96-1.88
----
0.411.721.31
205516.9014.97-1.93
----
0.431.721.29
205616.9614.97-1.98
----
0.451.731.28
205717.0214.98-2.05
----
0.471.731.26
205817.0914.98-2.11
----
0.481.731.25
205917.1614.99-2.17
----
0.501.731.23
206017.2214.99-2.23
----
0.511.731.22
206117.2915.00-2.29
----
0.531.731.20
206217.3515.00-2.35
----
0.541.731.19
206317.4115.01-2.41
----
0.561.741.18
206417.4815.01-2.46
----
0.571.741.17
206517.5415.02-2.52
----
0.581.741.15
206617.6015.02-2.58
----
0.601.741.14
206717.6715.03-2.64
----
0.611.741.13
206817.7315.03-2.70
----
0.621.741.12
206917.7915.04-2.76
----
0.631.741.11
207017.8615.04-2.81
----
0.641.741.11
207117.9115.05-2.87
----
0.651.751.10
207217.9615.05-2.91
----
0.661.751.09
207318.0015.05-2.95
----
0.661.751.08
207418.0415.06-2.98
----
0.671.751.08
207518.0715.06-3.01
----
0.681.751.07
207618.0915.06-3.02
----
0.681.751.07
207718.0915.06-3.03
----
0.681.751.07
207818.1015.06-3.03
----
0.691.751.07
207918.1015.07-3.03
----
0.691.751.06
208018.0915.07-3.03
----
0.691.751.06
208118.1015.07-3.03
----
0.691.761.06
208218.1015.07-3.04
----
0.701.761.06
208318.1215.07-3.05
----
0.701.761.06
208418.1415.07-3.07
----
0.701.761.06
208518.1715.07-3.10
----
0.701.761.05
208618.2115.08-3.13
----
0.711.761.05
208718.2515.08-3.17
----
0.711.761.05
208818.3015.08-3.21
----
0.711.761.05
208918.3415.09-3.26
----
0.711.761.05
209018.3915.09-3.30
----
0.721.761.05
209118.4415.09-3.35
----
0.721.761.04



 

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 16.84% 15.45% -1.39%
2048
0.34% 1.60% 1.27%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016