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Detailed Single Year Tables

Description of Proposed Provision:
Apply OASDI payroll tax rate on earnings above $400,000 starting in 2015, and tax all earnings once the current-law taxable maximum exceeds $400,000. Credit the additional earnings for benefit purposes by: (a) calculating a second average indexed monthly earnings (AIME+) reflecting only earnings taxed above the current law taxable maximum, (b) applying a 2 percent factor on this newly computed AIME+ to develop a second component of the PIA, and (c) adding this second component to the current-law PIA.

 

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
201414.0412.83-1.20
315
0.000.000.00
201513.9713.73-0.24
301
0.000.860.86
201613.9113.84-0.07
292
0.000.960.96
201713.8813.910.03
283
0.001.011.01
201813.9113.980.07
276
0.001.051.05
201914.0614.03-0.03
270
0.001.081.08
202014.2614.08-0.18
264
0.001.111.11
202114.4414.13-0.32
257
0.001.141.13
202214.7114.19-0.52
250
0.001.161.16
202314.9714.24-0.73
242
0.001.201.20
202415.2314.29-0.94
234
0.001.231.23
202515.4814.34-1.14
225
0.001.271.27
202615.7114.39-1.32
217
0.001.301.30
202715.9314.44-1.49
208
0.001.341.34
202816.1414.49-1.65
199
0.001.381.38
202916.3314.54-1.79
189
0.001.421.42
203016.5014.59-1.90
179
0.001.461.46
203116.6414.65-1.99
169
0.001.501.50
203216.7614.70-2.06
159
0.001.551.55
203316.8614.75-2.11
148
0.001.601.59
203416.9414.81-2.13
137
0.011.651.64
203516.9914.86-2.13
126
0.011.701.69
203617.0214.92-2.10
115
0.011.751.74
203717.0314.97-2.06
104
0.011.801.80
203817.0315.03-1.99
94
0.011.861.85
203917.0015.09-1.91
83
0.011.921.91
204016.9715.16-1.82
74
0.011.991.98
204116.9415.22-1.72
64
0.012.052.04
204216.9115.29-1.61
55
0.012.122.11
204316.8815.36-1.51
47
0.012.192.18
204416.8615.44-1.41
39
0.012.272.26
204516.8415.50-1.34
31
0.012.332.32
204616.8315.50-1.33
24
0.012.332.32
204716.8215.51-1.32
16
0.012.342.32
204816.8115.51-1.30
9
0.022.342.32
204916.8015.51-1.29
1
0.022.342.32
205016.8015.51-1.29
----
0.022.342.32
205116.8115.51-1.30
----
0.022.342.32
205216.8315.52-1.31
----
0.022.342.32
205316.8615.52-1.34
----
0.022.342.32
205416.8915.52-1.37
----
0.022.342.32
205516.9315.53-1.41
----
0.022.352.32
205616.9815.53-1.45
----
0.022.352.32
205717.0315.54-1.49
----
0.022.352.33
205817.0715.54-1.53
----
0.022.352.33
205917.1215.54-1.58
----
0.032.352.33
206017.1715.55-1.62
----
0.032.352.33
206117.2115.55-1.66
----
0.032.352.33
206217.2515.56-1.70
----
0.032.362.33
206317.3015.56-1.74
----
0.032.362.33
206417.3415.56-1.78
----
0.032.362.33
206517.3915.57-1.82
----
0.032.362.33
206617.4315.57-1.86
----
0.032.362.33
206717.4815.58-1.90
----
0.032.362.33
206817.5315.58-1.95
----
0.032.362.33
206917.5715.58-1.99
----
0.032.372.33
207017.6215.59-2.03
----
0.032.372.33
207117.6615.59-2.07
----
0.032.372.33
207217.6915.60-2.09
----
0.032.372.34
207317.7215.60-2.12
----
0.032.372.34
207417.7415.60-2.14
----
0.042.372.34
207517.7615.60-2.15
----
0.042.372.34
207617.7715.61-2.16
----
0.042.382.34
207717.7715.61-2.16
----
0.042.382.34
207817.7815.61-2.17
----
0.042.382.34
207917.7915.61-2.17
----
0.042.382.34
208017.8015.61-2.18
----
0.042.382.34
208117.8115.62-2.20
----
0.042.382.34
208217.8415.62-2.22
----
0.042.382.35
208317.8715.62-2.25
----
0.042.392.35
208417.9115.63-2.29
----
0.042.392.35
208517.9515.63-2.33
----
0.042.392.35
208618.0015.63-2.37
----
0.042.392.35
208718.0615.64-2.42
----
0.042.392.35
208818.1115.64-2.47
----
0.042.392.35



 

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 16.61% 15.72% -0.89%
2049
0.02% 1.84% 1.83%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified August 1, 2014