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Detailed Single Year Tables

Description of Proposed Provision:
B7.10: Replace the current-law WEP with a new calculation for most OASI and DI benefits based on covered and non-covered earnings, phased in for beneficiaries becoming newly eligible in 2024 through 2033. For this new approach, compute a PIA based on all past earnings (covered and non-covered), and multiply by the "non-covered earnings ratio." This ratio is equal to the current-law concept of the average indexed monthly earnings computed without non-covered earnings divided by a modified average indexed monthly earnings that includes both covered and non-covered earnings in our records.

 

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
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8512.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.000.000.00
202214.2613.02-1.23
230
0.000.000.00
202314.5413.05-1.50
215
0.000.000.00
202414.8313.08-1.74
199
-0.00-0.000.00
202515.1013.10-2.00
182
-0.00-0.000.00
202615.3713.14-2.24
165
-0.00-0.000.00
202715.6213.15-2.46
148
-0.00-0.000.00
202815.8513.17-2.68
130
-0.00-0.000.00
202916.0613.18-2.88
112
-0.00-0.000.00
203016.2613.20-3.07
94
-0.00-0.000.00
203116.4413.21-3.24
75
-0.00-0.000.00
203216.6013.22-3.38
56
-0.01-0.000.00
203316.7313.23-3.51
37
-0.01-0.000.01
203416.8413.23-3.61
17
-0.01-0.000.01
203516.9213.24-3.68
----
-0.01-0.000.01
203616.9813.24-3.73
----
-0.01-0.000.01
203717.0113.25-3.76
----
-0.02-0.000.01
203817.0013.25-3.76
----
-0.02-0.000.02
203916.9813.25-3.73
----
-0.02-0.000.02
204016.9413.25-3.69
----
-0.02-0.000.02
204116.8913.24-3.65
----
-0.02-0.000.02
204216.8313.24-3.59
----
-0.03-0.000.02
204316.7813.24-3.54
----
-0.03-0.000.03
204416.7313.24-3.49
----
-0.03-0.000.03
204516.6913.24-3.45
----
-0.03-0.000.03
204616.6513.23-3.41
----
-0.03-0.000.03
204716.6113.23-3.38
----
-0.04-0.000.03
204816.5813.23-3.35
----
-0.04-0.000.04
204916.5513.23-3.32
----
-0.04-0.000.04
205016.5313.23-3.30
----
-0.04-0.000.04
205116.5113.23-3.28
----
-0.04-0.000.04
205216.5113.23-3.28
----
-0.04-0.000.04
205316.5213.23-3.29
----
-0.05-0.000.04
205416.5413.23-3.31
----
-0.05-0.000.04
205516.5713.23-3.34
----
-0.05-0.000.05
205616.6113.24-3.37
----
-0.05-0.000.05
205716.6513.24-3.41
----
-0.05-0.000.05
205816.6913.24-3.45
----
-0.05-0.000.05
205916.7313.25-3.49
----
-0.05-0.000.05
206016.7813.25-3.53
----
-0.05-0.000.05
206116.8213.25-3.57
----
-0.05-0.000.05
206216.8713.26-3.61
----
-0.05-0.000.05
206316.9213.26-3.66
----
-0.05-0.000.05
206416.9613.26-3.70
----
-0.06-0.000.05
206517.0113.27-3.74
----
-0.06-0.000.05
206617.0613.27-3.79
----
-0.06-0.000.05
206717.1113.27-3.84
----
-0.06-0.000.05
206817.1613.28-3.89
----
-0.06-0.000.05
206917.2213.28-3.94
----
-0.06-0.000.05
207017.2713.28-3.99
----
-0.06-0.000.05
207117.3113.28-4.03
----
-0.06-0.000.06
207217.3513.29-4.07
----
-0.06-0.000.06
207317.3913.29-4.10
----
-0.06-0.000.06
207417.4213.29-4.13
----
-0.06-0.000.06
207517.4413.29-4.15
----
-0.06-0.000.06
207617.4613.30-4.17
----
-0.06-0.000.06
207717.4713.30-4.17
----
-0.06-0.000.06
207817.4613.30-4.17
----
-0.06-0.000.06
207917.4613.30-4.16
----
-0.06-0.000.06
208017.4513.29-4.16
----
-0.06-0.000.06
208117.4513.29-4.15
----
-0.06-0.000.06
208217.4513.29-4.15
----
-0.06-0.000.06
208317.4513.29-4.16
----
-0.06-0.000.06
208417.4713.29-4.17
----
-0.06-0.000.06
208517.4913.30-4.19
----
-0.06-0.000.06
208617.5213.30-4.22
----
-0.06-0.000.06
208717.5613.30-4.26
----
-0.06-0.000.06
208817.6013.30-4.29
----
-0.06-0.000.06
208917.6413.31-4.34
----
-0.06-0.000.06
209017.6913.31-4.38
----
-0.06-0.000.06
209117.7313.31-4.42
----
-0.06-0.000.06
209217.7813.31-4.47
----
-0.06-0.000.06



 

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 16.63% 13.84% -2.80%
2034
-0.03% -0.00% 0.03%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017