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Detailed Single Year Tables

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2018-2023, until the rate reaches 13.0 percent for 2023 and later.

 

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
201613.8812.88-1.00
298
0.000.000.00
201713.8912.91-0.98
280
0.000.000.00
201813.9713.03-0.94
264
0.000.090.09
201914.0913.14-0.95
249
0.000.190.19
202014.2313.25-0.98
235
0.000.280.28
202114.3413.36-0.98
222
0.000.380.38
202214.5213.49-1.03
210
0.000.470.47
202314.7213.60-1.12
198
0.000.570.57
202414.9513.63-1.32
186
0.000.570.57
202515.1613.65-1.51
174
0.000.570.57
202615.3613.67-1.69
162
0.000.570.57
202715.5613.68-1.87
149
0.000.570.57
202815.7513.70-2.05
137
0.000.570.58
202915.9313.71-2.21
124
0.000.570.58
203016.0913.73-2.37
111
0.000.570.58
203116.2413.74-2.50
97
0.000.570.58
203216.3713.75-2.62
83
0.000.570.58
203316.4713.76-2.72
68
0.000.570.58
203416.5513.76-2.78
52
0.000.570.58
203516.6213.77-2.84
36
0.000.570.58
203616.6713.78-2.90
20
0.000.570.58
203716.7113.78-2.93
3
-0.010.570.58
203816.7213.78-2.94
----
-0.010.570.58
203916.7213.79-2.93
----
-0.010.570.58
204016.7113.79-2.92
----
-0.010.570.58
204116.6813.79-2.89
----
-0.010.570.58
204216.6613.79-2.87
----
-0.010.570.58
204316.6313.79-2.84
----
-0.010.570.58
204416.6113.79-2.82
----
-0.010.570.58
204516.5913.79-2.80
----
-0.010.570.58
204616.5613.79-2.77
----
-0.010.570.58
204716.5513.79-2.76
----
-0.010.570.58
204816.5413.79-2.75
----
-0.010.570.58
204916.5313.79-2.74
----
-0.010.570.59
205016.5313.79-2.74
----
-0.010.570.59
205116.5413.80-2.74
----
-0.010.570.59
205216.5613.80-2.76
----
-0.010.570.59
205316.5913.80-2.79
----
-0.010.570.59
205416.6313.80-2.82
----
-0.010.570.59
205516.6713.81-2.87
----
-0.020.570.59
205616.7213.81-2.91
----
-0.020.570.59
205716.7813.82-2.96
----
-0.020.570.59
205816.8313.82-3.01
----
-0.020.570.59
205916.8813.82-3.06
----
-0.020.570.59
206016.9313.83-3.11
----
-0.020.570.59
206116.9913.83-3.15
----
-0.020.570.59
206217.0413.83-3.20
----
-0.020.570.59
206317.0913.84-3.25
----
-0.020.570.60
206417.1413.84-3.30
----
-0.020.570.60
206517.2013.84-3.35
----
-0.020.570.60
206617.2513.85-3.40
----
-0.020.580.60
206717.3113.85-3.46
----
-0.020.580.60
206817.3713.86-3.51
----
-0.020.580.60
206917.4213.86-3.56
----
-0.020.580.60
207017.4813.86-3.61
----
-0.020.580.60
207117.5313.87-3.66
----
-0.020.580.60
207217.5713.87-3.70
----
-0.020.580.60
207317.6113.87-3.74
----
-0.020.580.60
207417.6413.88-3.76
----
-0.020.580.60
207517.6613.88-3.78
----
-0.020.580.60
207617.6713.88-3.79
----
-0.020.580.60
207717.6813.88-3.80
----
-0.020.580.60
207817.6813.88-3.80
----
-0.020.580.60
207917.6813.88-3.80
----
-0.020.580.60
208017.6813.88-3.80
----
-0.020.580.60
208117.6913.88-3.81
----
-0.020.580.60
208217.7013.88-3.82
----
-0.020.580.60
208317.7213.88-3.84
----
-0.020.580.60
208417.7513.88-3.87
----
-0.020.580.60
208517.7813.89-3.90
----
-0.020.580.60
208617.8213.89-3.93
----
-0.020.580.60
208717.8613.89-3.97
----
-0.020.580.60
208817.9013.89-4.01
----
-0.020.580.60
208917.9513.90-4.05
----
-0.020.580.60
209017.9913.90-4.09
----
-0.020.580.60



 

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 16.53% 14.39% -2.15%
2037
-0.01% 0.52% 0.54%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015