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Detailed Single Year Tables

Description of Proposed Provision:
E2.3: 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. Create a new bend point at the current-law taxable maximum with a 3 percent formula factor applying above the new bend point.

 

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
202214.2615.351.09
291
0.012.332.32
202314.5615.360.80
289
0.022.322.30
202414.8515.400.54
286
0.032.312.29
202515.1415.420.28
282
0.042.322.28
202615.4215.450.03
276
0.052.312.27
202715.6815.47-0.21
271
0.062.322.26
202815.9215.49-0.44
265
0.072.322.25
202916.1515.50-0.65
259
0.082.322.24
203016.3615.52-0.84
253
0.102.322.23
203116.5615.53-1.02
247
0.112.332.22
203216.7315.55-1.18
241
0.122.332.21
203316.8715.56-1.31
235
0.132.332.20
203416.9915.57-1.42
228
0.142.332.19
203517.0815.57-1.50
222
0.152.332.18
203617.1515.58-1.57
215
0.162.342.18
203717.1915.59-1.60
207
0.172.342.17
203817.2015.59-1.61
200
0.182.342.16
203917.1815.59-1.59
193
0.182.342.16
204017.1515.59-1.56
187
0.192.342.15
204117.1115.59-1.52
180
0.192.342.15
204217.0615.59-1.47
174
0.202.352.15
204317.0115.59-1.42
167
0.202.352.14
204416.9615.59-1.38
161
0.212.352.14
204516.9315.59-1.34
155
0.212.352.14
204616.8915.59-1.31
149
0.212.352.14
204716.8615.59-1.27
143
0.212.352.14
204816.8315.59-1.25
138
0.222.352.14
204916.8115.59-1.22
132
0.222.352.14
205016.7915.59-1.20
127
0.222.352.14
205116.7715.59-1.19
121
0.222.362.14
205216.7815.59-1.19
115
0.222.362.14
205316.7915.59-1.20
110
0.222.362.14
205416.8115.59-1.22
104
0.222.362.14
205516.8415.60-1.25
97
0.222.362.14
205616.8815.60-1.28
91
0.222.362.14
205716.9215.60-1.32
85
0.232.362.14
205816.9715.61-1.36
78
0.232.362.14
205917.0115.61-1.40
71
0.232.362.14
206017.0615.62-1.44
63
0.232.362.14
206117.1015.62-1.48
55
0.232.362.14
206217.1515.63-1.53
48
0.232.372.14
206317.2015.63-1.57
39
0.232.372.14
206417.2515.63-1.61
31
0.232.372.14
206517.3015.64-1.66
22
0.232.372.14
206617.3515.64-1.71
13
0.232.372.14
206717.4015.65-1.76
3
0.232.372.14
206817.4615.65-1.80
----
0.232.372.14
206917.5115.66-1.85
----
0.242.372.14
207017.5615.66-1.90
----
0.242.382.14
207117.6115.66-1.94
----
0.242.382.14
207217.6515.67-1.98
----
0.242.382.14
207317.6915.67-2.01
----
0.242.382.14
207417.7215.68-2.04
----
0.242.382.14
207517.7415.68-2.06
----
0.242.382.14
207617.7615.68-2.08
----
0.242.382.14
207717.7715.68-2.08
----
0.242.382.14
207817.7715.69-2.08
----
0.242.392.14
207917.7615.69-2.07
----
0.242.392.15
208017.7515.69-2.07
----
0.242.392.15
208117.7515.69-2.06
----
0.242.392.15
208217.7515.69-2.06
----
0.242.392.15
208317.7515.69-2.06
----
0.242.392.15
208417.7715.69-2.08
----
0.242.392.15
208517.7915.69-2.10
----
0.242.402.15
208617.8315.70-2.13
----
0.242.402.15
208717.8615.70-2.16
----
0.242.402.15
208817.9015.71-2.20
----
0.252.402.15
208917.9515.71-2.24
----
0.252.402.15
209018.0015.71-2.28
----
0.252.402.15
209118.0415.72-2.33
----
0.252.402.15
209218.0915.72-2.37
----
0.252.412.15



 

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 16.84% 16.16% -0.68%
2067
0.17% 2.32% 2.15%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017