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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2015, apply 4 percent payroll tax rate on earnings above $400,000 in 2015, with the threshold wage-indexed after 2015. Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an AIME+ derived from annual earnings taxed only between $400,000 and $500,000 (with thresholds wage-indexed after 2015); and (2) a formula factor of 2 percent on this newly computed AIME+.

 

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
201513.9713.17-0.80
301
0.000.300.30
201613.9113.21-0.70
288
0.000.320.32
201713.8813.23-0.65
275
0.000.330.33
201813.9113.26-0.65
264
0.000.330.33
201914.0613.28-0.78
253
0.000.330.33
202014.2613.29-0.96
242
0.000.320.32
202114.4413.31-1.13
230
0.000.320.32
202214.7013.34-1.36
218
0.000.320.32
202314.9713.36-1.61
205
0.000.320.32
202415.2313.38-1.85
192
0.000.320.32
202515.4713.39-2.08
178
0.000.320.32
202615.7113.40-2.30
164
0.000.320.32
202715.9313.42-2.51
149
0.000.320.32
202816.1313.43-2.70
134
0.000.320.32
202916.3213.44-2.88
118
0.000.320.32
203016.4913.45-3.04
101
0.000.320.32
203116.6313.46-3.17
84
0.000.320.32
203216.7513.47-3.28
66
0.000.320.32
203316.8513.48-3.38
47
0.000.320.32
203416.9313.48-3.45
28
0.000.320.32
203516.9813.49-3.49
8
0.000.320.32
203617.0113.49-3.52
----
0.000.320.33
203717.0213.49-3.53
----
0.000.320.33
203817.0113.49-3.52
----
0.000.320.33
203916.9913.49-3.50
----
0.000.320.33
204016.9613.49-3.47
----
0.000.320.33
204116.9213.49-3.43
----
0.000.320.33
204216.8913.49-3.40
----
0.000.320.33
204316.8613.49-3.37
----
0.000.320.33
204416.8413.49-3.35
----
0.000.320.33
204516.8213.49-3.33
----
-0.010.320.33
204616.8113.49-3.32
----
-0.010.320.33
204716.8013.49-3.31
----
-0.010.320.33
204816.7913.49-3.29
----
-0.010.320.33
204916.7813.49-3.28
----
-0.010.320.33
205016.7813.50-3.28
----
-0.010.330.33
205116.7913.50-3.29
----
-0.010.330.33
205216.8013.50-3.30
----
-0.010.330.33
205316.8313.50-3.33
----
-0.010.330.33
205416.8613.50-3.36
----
-0.010.330.33
205516.9013.51-3.40
----
-0.010.330.33
205616.9513.51-3.44
----
-0.010.330.33
205717.0013.51-3.48
----
-0.010.330.33
205817.0413.52-3.53
----
-0.010.330.34
205917.0913.52-3.57
----
-0.010.330.34
206017.1313.52-3.61
----
-0.010.330.34
206117.1813.53-3.65
----
-0.010.330.34
206217.2213.53-3.69
----
-0.010.330.34
206317.2613.53-3.73
----
-0.010.330.34
206417.3013.53-3.77
----
-0.010.330.34
206517.3513.54-3.81
----
-0.010.330.34
206617.3913.54-3.85
----
-0.010.330.34
206717.4413.54-3.90
----
-0.010.330.34
206817.4913.55-3.94
----
-0.010.330.34
206917.5313.55-3.98
----
-0.010.330.34
207017.5713.55-4.02
----
-0.010.330.34
207117.6113.55-4.06
----
-0.010.330.34
207217.6513.56-4.09
----
-0.010.330.34
207317.6713.56-4.11
----
-0.010.330.34
207417.6913.56-4.13
----
-0.010.330.34
207517.7113.56-4.15
----
-0.010.330.34
207617.7213.56-4.16
----
-0.010.330.34
207717.7313.56-4.16
----
-0.010.330.34
207817.7313.56-4.17
----
-0.010.330.34
207917.7413.56-4.17
----
-0.010.330.34
208017.7513.57-4.18
----
-0.010.330.34
208117.7713.57-4.20
----
-0.010.330.34
208217.7913.57-4.22
----
-0.010.330.34
208317.8213.57-4.25
----
-0.010.330.34
208417.8613.57-4.29
----
-0.010.330.34
208517.9113.58-4.33
----
-0.010.330.34
208617.9513.58-4.37
----
-0.010.330.34
208718.0013.58-4.42
----
-0.010.340.34
208818.0613.58-4.47
----
-0.010.340.34



 

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 16.59% 14.19% -2.40%
2035
-0.00% 0.32% 0.32%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified July 11, 2014