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Detailed Single Year Tables

Description of Proposed Provision:
Eliminate the taxable maximum in years 2027 and later. Phase in elimination by taxing all earnings above the current-law taxable maximum at: 1.24 percent in 2018, 2.48 percent in 2019, and so on, up to 11.16 percent in 2026. Provide benefit credit for earnings above the current-law taxable maximum. Create a new bend point at the current-law taxable maximum with a 3 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
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
201813.9713.19-0.78
264
0.000.250.25
201914.0913.46-0.63
250
0.000.510.51
202014.2313.72-0.51
238
0.000.750.75
202114.3513.98-0.37
229
0.000.990.99
202214.5214.24-0.28
220
0.001.221.22
202314.7314.47-0.25
213
0.001.441.44
202414.9614.72-0.25
206
0.011.651.65
202515.1714.96-0.22
200
0.011.881.87
202615.3815.19-0.19
196
0.012.092.08
202715.5815.42-0.16
193
0.022.312.29
202815.7815.45-0.33
191
0.032.322.29
202915.9715.46-0.50
189
0.042.322.28
203016.1415.48-0.66
186
0.052.322.28
203116.3015.49-0.81
183
0.062.322.27
203216.4415.50-0.94
179
0.072.332.26
203316.5515.51-1.04
175
0.082.332.25
203416.6415.52-1.12
170
0.092.332.24
203516.7215.53-1.19
165
0.102.332.24
203616.7915.54-1.25
160
0.112.332.23
203716.8315.54-1.29
154
0.122.342.22
203816.8615.55-1.31
148
0.132.342.21
203916.8615.55-1.31
142
0.142.342.20
204016.8615.56-1.30
136
0.142.342.20
204116.8415.56-1.28
131
0.152.342.19
204216.8315.56-1.27
125
0.162.342.18
204316.8115.56-1.25
119
0.172.352.18
204416.7915.56-1.23
113
0.182.352.17
204516.7815.57-1.22
108
0.182.352.16
204616.7715.57-1.20
102
0.192.352.16
204716.7615.57-1.19
96
0.202.352.15
204816.7515.57-1.18
91
0.202.352.15
204916.7515.57-1.18
85
0.212.352.14
205016.7615.58-1.18
79
0.222.362.14
205116.7815.58-1.20
73
0.222.362.14
205216.8015.58-1.22
67
0.232.362.13
205316.8415.59-1.25
61
0.232.362.13
205416.8815.59-1.29
54
0.242.362.12
205516.9315.60-1.33
48
0.242.362.12
205616.9915.60-1.38
40
0.252.362.12
205717.0415.61-1.44
33
0.252.372.12
205817.1015.61-1.49
25
0.252.372.11
205917.1615.62-1.54
17
0.262.372.11
206017.2115.62-1.59
8
0.262.372.11
206117.2715.63-1.64
----
0.262.372.11
206217.3215.63-1.69
----
0.262.372.11
206317.3715.64-1.74
----
0.272.372.11
206417.4315.64-1.79
----
0.272.372.11
206517.4815.65-1.84
----
0.272.382.11
206617.5415.65-1.89
----
0.272.382.11
206717.6015.66-1.94
----
0.272.382.11
206817.6615.66-1.99
----
0.272.382.11
206917.7115.67-2.05
----
0.272.382.11
207017.7715.67-2.10
----
0.272.382.12
207117.8215.67-2.14
----
0.262.382.12
207217.8615.68-2.18
----
0.262.382.12
207317.9015.68-2.22
----
0.262.392.12
207417.9315.69-2.24
----
0.262.392.12
207517.9515.69-2.26
----
0.262.392.12
207617.9615.69-2.27
----
0.262.392.13
207717.9615.69-2.27
----
0.262.392.13
207817.9715.69-2.27
----
0.262.392.13
207917.9715.69-2.27
----
0.262.392.13
208017.9715.70-2.27
----
0.262.392.14
208117.9715.70-2.27
----
0.262.392.14
208217.9815.70-2.28
----
0.262.402.14
208318.0015.70-2.30
----
0.262.402.14
208418.0315.70-2.33
----
0.252.402.14
208518.0615.71-2.36
----
0.252.402.14
208618.1015.71-2.39
----
0.252.402.15
208718.1415.71-2.43
----
0.262.402.15
208818.1815.72-2.47
----
0.262.402.15
208918.2315.72-2.50
----
0.262.402.15
209018.2715.73-2.54
----
0.262.412.15



 

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 16.70% 15.94% -0.76%
2060
0.15% 2.07% 1.92%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015