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Detailed Single Year Tables

Description of Proposed Provision:
E2.10: 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 12.40 percent in 2027. Provide benefit credit for earnings above the current-law taxable maximum, adding a bend point at the current-law taxable maximum and applying a formula factor of 5 percent for AIME above this 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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8613.21-0.65
277
0.000.250.25
201913.9913.47-0.51
263
0.000.510.51
202014.1313.73-0.40
251
0.000.750.75
202114.2714.00-0.27
242
0.000.991.00
202214.4914.26-0.23
232
0.001.231.23
202314.7614.51-0.25
224
0.001.451.45
202415.0314.76-0.27
215
0.011.671.66
202515.3014.98-0.31
208
0.011.871.86
202615.4915.22-0.27
202
0.022.092.07
202715.6715.45-0.22
197
0.022.312.28
202815.8415.47-0.37
194
0.032.322.29
202916.0115.49-0.52
191
0.042.322.28
203016.1515.50-0.65
187
0.052.322.27
203116.2815.51-0.77
184
0.062.322.26
203216.4015.52-0.87
180
0.072.322.26
203316.4915.53-0.96
176
0.082.332.25
203416.5615.54-1.02
172
0.092.332.24
203516.6015.55-1.05
167
0.102.332.23
203616.6715.55-1.12
162
0.112.332.22
203716.7215.56-1.16
157
0.132.332.21
203816.7515.57-1.18
151
0.142.342.20
203916.7615.57-1.19
146
0.152.342.19
204016.7515.57-1.18
140
0.162.342.18
204116.7315.57-1.16
135
0.172.342.17
204216.7115.58-1.14
130
0.182.342.17
204316.6915.58-1.11
125
0.192.352.16
204416.6715.58-1.09
119
0.202.352.15
204516.6615.58-1.08
114
0.212.352.14
204616.6415.58-1.06
109
0.222.352.13
204716.6315.58-1.04
104
0.232.352.13
204816.6215.59-1.03
99
0.242.352.12
204916.6115.59-1.02
94
0.242.362.11
205016.6115.59-1.02
89
0.252.362.11
205116.6215.59-1.03
84
0.262.362.10
205216.6415.60-1.04
79
0.272.362.09
205316.6715.60-1.07
73
0.272.362.09
205416.7115.60-1.10
68
0.282.362.08
205516.7515.61-1.14
62
0.292.372.08
205616.8015.61-1.19
56
0.302.372.07
205716.8615.62-1.24
49
0.302.372.07
205816.9215.63-1.29
43
0.312.372.06
205916.9715.63-1.34
36
0.322.372.06
206017.0315.64-1.39
28
0.322.372.05
206117.0815.64-1.44
20
0.332.382.05
206217.1415.65-1.49
12
0.332.382.05
206317.1915.65-1.54
4
0.342.382.04
206417.2415.66-1.59
----
0.342.382.04
206517.3015.66-1.64
----
0.342.382.04
206617.3515.67-1.69
----
0.342.382.04
206717.4115.67-1.74
----
0.352.382.04
206817.4615.68-1.79
----
0.352.392.04
206917.5215.68-1.84
----
0.352.392.04
207017.5715.68-1.89
----
0.352.392.03
207117.6215.69-1.93
----
0.352.392.03
207217.6615.69-1.97
----
0.362.392.03
207317.7015.70-2.00
----
0.362.392.03
207417.7315.70-2.03
----
0.362.392.03
207517.7515.70-2.05
----
0.362.392.04
207617.7615.71-2.06
----
0.362.402.04
207717.7715.71-2.06
----
0.362.402.04
207817.7715.71-2.06
----
0.362.402.04
207917.7615.71-2.05
----
0.362.402.04
208017.7615.71-2.05
----
0.362.402.04
208117.7615.71-2.05
----
0.362.402.04
208217.7615.71-2.05
----
0.362.402.04
208317.7815.72-2.06
----
0.362.402.05
208417.8015.72-2.08
----
0.362.402.05
208517.8315.72-2.11
----
0.362.412.05
208617.8615.72-2.14
----
0.362.412.05
208717.9015.73-2.17
----
0.362.412.05
208817.9515.73-2.21
----
0.362.412.05
208917.9915.74-2.26
----
0.362.412.05
209018.0415.74-2.30
----
0.362.412.05
209118.0915.74-2.34
----
0.362.412.05



 

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 2016 Trustees Report.
2016-2090 16.71% 15.97% -0.73%
2063
0.21% 2.13% 1.92%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016