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Detailed Single Year Tables

Description of Proposed Provision:
Eliminate the taxable maximum in years 2016 and later, and apply full 12.4 percent payroll tax rate to all earnings. Do not provide benefit credit for earnings above the current-law 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
201514.1312.82-1.31
308
0.000.000.00
201613.8815.271.39
298
0.002.392.39
201713.8915.361.47
297
0.002.452.45
201813.9615.371.41
297
-0.012.432.44
201914.0815.371.29
297
-0.012.422.42
202014.2215.361.14
297
-0.012.402.40
202114.3415.361.03
297
-0.012.382.39
202214.5115.380.87
296
-0.012.372.37
202314.7215.370.65
294
-0.012.342.35
202414.9515.380.43
292
-0.012.312.32
202515.1515.390.24
290
-0.012.312.32
202615.3515.410.06
287
-0.012.312.33
202715.5415.43-0.12
285
-0.012.312.33
202815.7315.44-0.29
283
-0.012.322.33
202915.9115.46-0.46
281
-0.022.322.33
203016.0815.47-0.61
279
-0.022.322.33
203116.2215.48-0.74
277
-0.022.322.34
203216.3515.49-0.86
274
-0.022.322.34
203316.4515.50-0.95
271
-0.022.322.34
203416.5315.51-1.02
267
-0.022.322.34
203516.5915.52-1.08
264
-0.032.322.35
203616.6515.52-1.13
260
-0.032.322.35
203716.6915.53-1.16
256
-0.032.322.35
203816.7015.53-1.16
252
-0.032.322.35
203916.6915.54-1.16
248
-0.032.322.36
204016.6815.54-1.14
245
-0.042.322.36
204116.6515.54-1.11
241
-0.042.322.36
204216.6215.54-1.09
238
-0.042.322.36
204316.6015.54-1.06
235
-0.042.322.37
204416.5715.54-1.03
232
-0.052.322.37
204516.5515.54-1.01
229
-0.052.322.37
204616.5215.54-0.98
226
-0.052.332.38
204716.5115.54-0.96
223
-0.052.332.38
204816.4915.54-0.95
220
-0.052.332.38
204916.4815.55-0.94
218
-0.062.332.38
205016.4815.55-0.93
215
-0.062.332.39
205116.4915.55-0.94
212
-0.062.332.39
205216.5115.55-0.96
209
-0.062.332.39
205316.5415.56-0.98
206
-0.072.332.40
205416.5715.56-1.01
202
-0.072.332.40
205516.6215.56-1.05
198
-0.072.332.40
205616.6715.57-1.10
194
-0.072.332.40
205716.7215.57-1.14
190
-0.082.332.41
205816.7715.58-1.19
185
-0.082.332.41
205916.8215.58-1.24
180
-0.082.332.41
206016.8715.59-1.28
175
-0.082.332.42
206116.9215.59-1.33
169
-0.082.342.42
206216.9715.60-1.38
164
-0.092.342.42
206317.0215.60-1.42
157
-0.092.342.42
206417.0715.60-1.47
151
-0.092.342.43
206517.1315.61-1.52
144
-0.092.342.43
206617.1815.61-1.57
137
-0.092.342.43
206717.2415.62-1.62
130
-0.092.342.43
206817.3015.62-1.67
122
-0.092.342.44
206917.3515.63-1.72
114
-0.092.342.44
207017.4115.63-1.77
105
-0.092.352.44
207117.4615.64-1.82
96
-0.102.352.44
207217.5015.64-1.86
87
-0.102.352.44
207317.5415.65-1.89
78
-0.102.352.45
207417.5715.65-1.92
68
-0.102.352.45
207517.5915.65-1.93
58
-0.102.352.45
207617.6015.65-1.94
48
-0.102.352.45
207717.6115.66-1.95
38
-0.102.352.45
207817.6115.66-1.95
28
-0.102.352.45
207917.6115.66-1.95
17
-0.102.362.45
208017.6115.66-1.95
7
-0.102.362.46
208117.6215.66-1.96
----
-0.102.362.46
208217.6315.66-1.97
----
-0.102.362.46
208317.6515.67-1.98
----
-0.102.362.46
208417.6815.67-2.01
----
-0.102.362.46
208517.7115.67-2.04
----
-0.102.362.46
208617.7515.68-2.07
----
-0.102.362.46
208717.7915.68-2.11
----
-0.102.372.46
208817.8315.68-2.15
----
-0.102.372.46
208917.8715.69-2.19
----
-0.102.372.47
209017.9215.69-2.23
----
-0.102.372.47



 

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 2015 Trustees Report.
2015-2089 16.49% 16.17% -0.32%
2080
-0.05% 2.31% 2.36%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015