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Detailed Single Year Tables

Description of Proposed Provision:
Increase the taxable maximum until taxable earnings equal 90 percent of covered earnings (phased in 2014-2023). In addition, apply a tax rate of 6.2 percent for earnings above the revised taxable maximum (phased in from 2014-2023). Provide benefit credit on 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
201313.9512.69-1.26
330
0.000.000.00
201414.0413.07-0.96
315
0.000.240.24
201513.9713.35-0.62
302
0.000.480.48
201613.9113.59-0.32
290
0.000.710.71
201713.8813.80-0.08
281
0.000.900.90
201813.9114.000.08
273
0.001.071.07
201914.0614.160.10
267
0.001.211.21
202014.2614.300.04
261
0.001.331.33
202114.4514.44-0.01
256
0.011.451.44
202214.7114.58-0.13
251
0.011.561.55
202314.9814.71-0.28
246
0.011.661.65
202415.2414.73-0.52
240
0.021.671.65
202515.5014.74-0.75
234
0.021.671.65
202615.7314.76-0.98
228
0.021.671.65
202715.9614.77-1.18
221
0.031.681.65
202816.1714.79-1.38
214
0.041.681.64
202916.3714.80-1.57
206
0.041.681.64
203016.5414.81-1.73
198
0.051.681.63
203116.6914.82-1.87
188
0.061.681.62
203216.8214.83-1.98
179
0.061.681.62
203316.9314.84-2.09
168
0.071.691.61
203417.0114.85-2.17
158
0.081.691.61
203517.0714.85-2.22
147
0.091.691.60
203617.1114.86-2.25
135
0.101.691.59
203717.1314.86-2.27
124
0.111.691.59
203817.1314.86-2.27
113
0.111.691.58
203917.1214.87-2.25
101
0.121.691.57
204017.0914.87-2.23
90
0.131.701.57
204117.0714.87-2.20
78
0.141.701.56
204217.0414.87-2.17
66
0.151.701.55
204317.0214.87-2.15
55
0.161.701.55
204417.0114.87-2.14
43
0.171.701.54
204517.0014.87-2.13
32
0.181.711.53
204617.0014.88-2.13
20
0.181.711.52
204717.0014.88-2.12
8
0.191.711.52
204817.0014.88-2.11
----
0.201.711.51
204917.0014.88-2.11
----
0.211.711.50
205017.0114.89-2.12
----
0.221.721.49
205117.0214.89-2.13
----
0.231.721.49
205217.0514.89-2.16
----
0.241.721.48
205317.0914.90-2.19
----
0.251.721.47
205417.1314.90-2.23
----
0.261.721.46
205517.1814.91-2.27
----
0.271.731.46
205617.2414.91-2.33
----
0.281.731.45
205717.3014.92-2.38
----
0.291.731.44
205817.3514.92-2.43
----
0.301.731.43
205917.4114.93-2.48
----
0.311.741.43
206017.4614.93-2.53
----
0.321.741.42
206117.5114.94-2.57
----
0.331.741.41
206217.5614.94-2.62
----
0.341.741.41
206317.6114.95-2.67
----
0.341.741.40
206417.6614.95-2.71
----
0.351.751.39
206517.7214.96-2.76
----
0.361.751.39
206617.7714.96-2.81
----
0.371.751.39
206717.8214.97-2.85
----
0.371.751.38
206817.8714.97-2.90
----
0.381.751.38
206917.9214.98-2.95
----
0.381.761.37
207017.9714.98-2.99
----
0.391.761.37
207118.0214.98-3.03
----
0.391.761.37
207218.0514.99-3.07
----
0.401.761.36
207318.0814.99-3.09
----
0.401.761.36
207418.1114.99-3.12
----
0.401.771.36
207518.1315.00-3.13
----
0.411.771.36
207618.1415.00-3.14
----
0.411.771.36
207718.1515.00-3.15
----
0.411.771.36
207818.1615.00-3.15
----
0.411.771.36
207918.1615.00-3.16
----
0.421.771.36
208018.1815.01-3.17
----
0.421.771.36
208118.2015.01-3.19
----
0.421.781.36
208218.2215.01-3.21
----
0.421.781.35
208318.2615.01-3.24
----
0.421.781.35
208418.3015.02-3.28
----
0.431.781.35
208518.3415.02-3.32
----
0.431.781.35
208618.3915.03-3.37
----
0.431.781.35
208718.4515.03-3.42
----
0.431.781.35
208818.5015.03-3.46
----
0.431.791.35



 

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 2013 Trustees Report.
2013-2087 16.78% 15.46% -1.32%
2047
0.18% 1.58% 1.40%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 11, 2013