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Detailed Single Year Tables

Description of Proposed Provision:
Increase the taxable maximum by an additional 2 percent per year beginning in 2016 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.

 

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
201413.9512.67-1.29
320
0.000.000.00
201513.9712.92-1.05
306
0.000.000.00
201613.9712.93-1.04
292
0.000.040.04
201713.9712.99-0.98
277
0.000.080.08
201814.0213.05-0.96
263
0.000.120.12
201914.1513.10-1.05
249
0.000.160.16
202014.3313.15-1.18
236
0.000.190.19
202114.5013.21-1.29
222
0.000.230.23
202214.7413.27-1.47
209
0.000.260.26
202315.0013.33-1.68
194
0.000.300.29
202415.2813.38-1.90
180
0.000.330.33
202515.5513.43-2.11
165
0.000.360.36
202615.8013.48-2.32
150
0.010.390.39
202716.0313.53-2.51
134
0.010.420.42
202816.2513.57-2.68
119
0.010.450.44
202916.4513.62-2.83
103
0.010.480.47
203016.6213.66-2.96
87
0.010.510.50
203116.7613.70-3.06
70
0.020.540.53
203216.8813.74-3.15
52
0.020.570.55
203316.9813.77-3.21
34
0.020.600.57
203417.0613.80-3.26
16
0.030.620.60
203517.1213.84-3.28
----
0.030.650.62
203617.1613.87-3.29
----
0.030.670.64
203717.1813.89-3.29
----
0.040.700.66
203817.1813.92-3.26
----
0.040.720.68
203917.1613.95-3.22
----
0.050.750.70
204017.1413.97-3.17
----
0.050.770.72
204117.1113.99-3.11
----
0.060.790.74
204217.0714.01-3.06
----
0.060.820.76
204317.0514.04-3.01
----
0.070.840.77
204417.0314.06-2.97
----
0.070.860.79
204517.0214.08-2.94
----
0.080.880.80
204617.0114.10-2.91
----
0.090.900.82
204717.0114.13-2.88
----
0.090.930.83
204817.0014.15-2.85
----
0.100.950.85
204917.0014.17-2.83
----
0.110.970.86
205017.0014.19-2.81
----
0.110.990.88
205117.0214.21-2.80
----
0.121.010.89
205217.0414.23-2.80
----
0.131.030.90
205317.0714.26-2.82
----
0.131.050.91
205417.1114.26-2.85
----
0.141.050.91
205517.1614.27-2.90
----
0.151.050.90
205617.2214.27-2.95
----
0.161.060.90
205717.2814.28-3.00
----
0.171.060.89
205817.3414.28-3.05
----
0.181.060.88
205917.3914.29-3.11
----
0.181.060.88
206017.4514.29-3.16
----
0.191.060.87
206117.5114.30-3.21
----
0.201.060.86
206217.5614.30-3.26
----
0.211.060.86
206317.6114.31-3.31
----
0.211.070.85
206417.6714.31-3.36
----
0.221.070.85
206517.7314.32-3.41
----
0.231.070.84
206617.7814.32-3.46
----
0.241.070.84
206717.8414.33-3.51
----
0.241.070.83
206817.8914.33-3.56
----
0.251.070.82
206917.9514.33-3.61
----
0.261.080.82
207018.0014.34-3.66
----
0.261.080.82
207118.0514.34-3.71
----
0.271.080.81
207218.0914.35-3.74
----
0.271.080.81
207318.1214.35-3.77
----
0.281.080.80
207418.1514.35-3.80
----
0.281.080.80
207518.1714.36-3.81
----
0.291.080.80
207618.1814.36-3.83
----
0.291.090.79
207718.1914.36-3.83
----
0.301.090.79
207818.1914.36-3.83
----
0.301.090.79
207918.2014.36-3.84
----
0.301.090.79
208018.2114.36-3.85
----
0.311.090.78
208118.2314.36-3.86
----
0.311.090.78
208218.2514.37-3.88
----
0.311.090.78
208318.2814.37-3.91
----
0.321.090.78
208418.3214.37-3.95
----
0.321.090.77
208518.3714.38-3.99
----
0.321.100.77
208618.4214.38-4.04
----
0.331.100.77
208718.4714.38-4.08
----
0.331.100.77
208818.5214.39-4.14
----
0.331.100.77
208918.5814.39-4.19
----
0.341.100.76



 

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 2014 Trustees Report.
2014-2088 16.89% 14.63% -2.26%
2034
0.12% 0.74% 0.62%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 18, 2014