Description of Proposed Provision:
A2: Starting December 2018, reduce the annual COLA by 0.5 percentage point.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2017 | 13.41 | 13.03 | -0.38 | 298 | 0.00 | 0.00 | 0.00 | ||
| 2018 | 13.49 | 12.93 | -0.56 | 287 | 0.00 | 0.00 | 0.00 | ||
| 2019 | 13.63 | 12.94 | -0.69 | 274 | -0.07 | -0.00 | 0.06 | ||
| 2020 | 13.72 | 12.96 | -0.77 | 261 | -0.13 | -0.01 | 0.12 | ||
| 2021 | 13.82 | 12.98 | -0.84 | 250 | -0.20 | -0.01 | 0.19 | ||
| 2022 | 13.99 | 13.01 | -0.98 | 237 | -0.26 | -0.01 | 0.25 | ||
| 2023 | 14.22 | 13.03 | -1.18 | 224 | -0.33 | -0.02 | 0.31 | ||
| 2024 | 14.43 | 13.06 | -1.37 | 210 | -0.39 | -0.02 | 0.37 | ||
| 2025 | 14.64 | 13.08 | -1.56 | 197 | -0.46 | -0.02 | 0.43 | ||
| 2026 | 14.85 | 13.11 | -1.74 | 182 | -0.52 | -0.03 | 0.49 | ||
| 2027 | 15.04 | 13.12 | -1.92 | 168 | -0.58 | -0.03 | 0.55 | ||
| 2028 | 15.22 | 13.13 | -2.08 | 153 | -0.64 | -0.03 | 0.60 | ||
| 2029 | 15.38 | 13.15 | -2.23 | 138 | -0.69 | -0.04 | 0.66 | ||
| 2030 | 15.52 | 13.16 | -2.37 | 124 | -0.74 | -0.04 | 0.70 | ||
| 2031 | 15.65 | 13.17 | -2.49 | 109 | -0.79 | -0.04 | 0.75 | ||
| 2032 | 15.77 | 13.17 | -2.59 | 94 | -0.84 | -0.04 | 0.80 | ||
| 2033 | 15.86 | 13.18 | -2.68 | 78 | -0.88 | -0.05 | 0.84 | ||
| 2034 | 15.92 | 13.19 | -2.74 | 63 | -0.92 | -0.05 | 0.88 | ||
| 2035 | 15.97 | 13.19 | -2.78 | 46 | -0.96 | -0.05 | 0.91 | ||
| 2036 | 15.99 | 13.19 | -2.80 | 30 | -1.00 | -0.05 | 0.94 | ||
| 2037 | 15.99 | 13.19 | -2.80 | 13 | -1.03 | -0.05 | 0.97 | ||
| 2038 | 15.97 | 13.19 | -2.78 | ---- | -1.05 | -0.06 | 1.00 | ||
| 2039 | 15.92 | 13.19 | -2.73 | ---- | -1.08 | -0.06 | 1.02 | ||
| 2040 | 15.87 | 13.19 | -2.68 | ---- | -1.10 | -0.06 | 1.04 | ||
| 2041 | 15.80 | 13.19 | -2.62 | ---- | -1.11 | -0.06 | 1.05 | ||
| 2042 | 15.73 | 13.18 | -2.55 | ---- | -1.13 | -0.06 | 1.07 | ||
| 2043 | 15.67 | 13.18 | -2.49 | ---- | -1.14 | -0.06 | 1.08 | ||
| 2044 | 15.61 | 13.18 | -2.44 | ---- | -1.15 | -0.06 | 1.08 | ||
| 2045 | 15.57 | 13.18 | -2.39 | ---- | -1.15 | -0.06 | 1.09 | ||
| 2046 | 15.52 | 13.17 | -2.35 | ---- | -1.16 | -0.06 | 1.10 | ||
| 2047 | 15.48 | 13.17 | -2.31 | ---- | -1.16 | -0.06 | 1.10 | ||
| 2048 | 15.45 | 13.17 | -2.28 | ---- | -1.16 | -0.06 | 1.10 | ||
| 2049 | 15.42 | 13.17 | -2.25 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2050 | 15.40 | 13.17 | -2.23 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2051 | 15.39 | 13.17 | -2.22 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2052 | 15.39 | 13.17 | -2.22 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2053 | 15.40 | 13.17 | -2.23 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2054 | 15.42 | 13.17 | -2.25 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2055 | 15.45 | 13.17 | -2.28 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2056 | 15.49 | 13.18 | -2.31 | ---- | -1.17 | -0.06 | 1.11 | ||
| 2057 | 15.52 | 13.18 | -2.35 | ---- | -1.17 | -0.06 | 1.11 | ||
| 2058 | 15.57 | 13.18 | -2.38 | ---- | -1.17 | -0.06 | 1.11 | ||
| 2059 | 15.61 | 13.19 | -2.42 | ---- | -1.18 | -0.06 | 1.11 | ||
| 2060 | 15.65 | 13.19 | -2.46 | ---- | -1.18 | -0.06 | 1.12 | ||
| 2061 | 15.69 | 13.19 | -2.50 | ---- | -1.19 | -0.06 | 1.12 | ||
| 2062 | 15.73 | 13.19 | -2.54 | ---- | -1.19 | -0.06 | 1.13 | ||
| 2063 | 15.77 | 13.20 | -2.58 | ---- | -1.20 | -0.06 | 1.13 | ||
| 2064 | 15.82 | 13.20 | -2.62 | ---- | -1.20 | -0.07 | 1.14 | ||
| 2065 | 15.86 | 13.20 | -2.66 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2066 | 15.90 | 13.21 | -2.70 | ---- | -1.21 | -0.07 | 1.15 | ||
| 2067 | 15.95 | 13.21 | -2.74 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2068 | 15.99 | 13.21 | -2.78 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2069 | 16.04 | 13.21 | -2.83 | ---- | -1.23 | -0.07 | 1.17 | ||
| 2070 | 16.08 | 13.22 | -2.87 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2071 | 16.12 | 13.22 | -2.90 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2072 | 16.16 | 13.22 | -2.94 | ---- | -1.25 | -0.07 | 1.19 | ||
| 2073 | 16.19 | 13.22 | -2.96 | ---- | -1.26 | -0.07 | 1.19 | ||
| 2074 | 16.21 | 13.23 | -2.99 | ---- | -1.27 | -0.07 | 1.20 | ||
| 2075 | 16.23 | 13.23 | -3.00 | ---- | -1.27 | -0.07 | 1.20 | ||
| 2076 | 16.24 | 13.23 | -3.01 | ---- | -1.28 | -0.07 | 1.21 | ||
| 2077 | 16.24 | 13.23 | -3.01 | ---- | -1.28 | -0.07 | 1.21 | ||
| 2078 | 16.24 | 13.23 | -3.01 | ---- | -1.29 | -0.07 | 1.22 | ||
| 2079 | 16.23 | 13.23 | -3.00 | ---- | -1.29 | -0.07 | 1.22 | ||
| 2080 | 16.22 | 13.23 | -2.99 | ---- | -1.29 | -0.07 | 1.22 | ||
| 2081 | 16.21 | 13.23 | -2.98 | ---- | -1.30 | -0.07 | 1.22 | ||
| 2082 | 16.21 | 13.23 | -2.98 | ---- | -1.30 | -0.07 | 1.23 | ||
| 2083 | 16.21 | 13.23 | -2.99 | ---- | -1.30 | -0.07 | 1.23 | ||
| 2084 | 16.22 | 13.23 | -3.00 | ---- | -1.30 | -0.07 | 1.23 | ||
| 2085 | 16.25 | 13.23 | -3.02 | ---- | -1.31 | -0.07 | 1.23 | ||
| 2086 | 16.27 | 13.23 | -3.04 | ---- | -1.31 | -0.07 | 1.24 | ||
| 2087 | 16.31 | 13.23 | -3.07 | ---- | -1.31 | -0.07 | 1.24 | ||
| 2088 | 16.34 | 13.23 | -3.11 | ---- | -1.31 | -0.07 | 1.24 | ||
| 2089 | 16.38 | 13.24 | -3.15 | ---- | -1.32 | -0.07 | 1.24 | ||
| 2090 | 16.43 | 13.24 | -3.19 | ---- | -1.32 | -0.07 | 1.25 | ||
| 2091 | 16.47 | 13.24 | -3.23 | ---- | -1.32 | -0.07 | 1.25 | ||
| 2092 | 16.52 | 13.24 | -3.27 | ---- | -1.33 | -0.07 | 1.25 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2017-2091 | 15.67% | 13.79% | -1.89% | 2037 | -0.99% | -0.05% | 0.94% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2017 Trustees Report.