Description of Proposed Provision:
B4.1: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 38, phased in over the years 2018-2022.

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
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
-0.00-0.000.00
201913.7012.95-0.75
273
-0.00-0.000.00
202013.8512.96-0.89
259
-0.01-0.000.01
202114.0012.99-1.01
245
-0.01-0.000.01
202214.2313.02-1.21
231
-0.02-0.000.02
202314.5113.05-1.46
216
-0.03-0.000.03
202414.7813.08-1.70
200
-0.05-0.000.05
202515.0313.10-1.93
184
-0.06-0.000.06
202615.2913.13-2.16
167
-0.08-0.000.08
202715.5113.15-2.37
150
-0.10-0.010.10
202815.7313.16-2.57
133
-0.12-0.010.12
202915.9313.17-2.75
116
-0.14-0.010.13
203016.1113.19-2.92
99
-0.16-0.010.15
203116.2713.20-3.07
81
-0.18-0.010.17
203216.4113.21-3.21
63
-0.19-0.010.18
203316.5313.22-3.32
44
-0.21-0.010.20
203416.6213.22-3.40
25
-0.22-0.010.21
203516.6913.23-3.46
5
-0.24-0.010.23
203616.7313.23-3.50
----
-0.25-0.010.24
203716.7613.23-3.52
----
-0.27-0.010.25
203816.7513.23-3.51
----
-0.28-0.020.26
203916.7113.23-3.48
----
-0.29-0.020.27
204016.6713.23-3.43
----
-0.30-0.020.28
204116.6113.23-3.38
----
-0.30-0.020.29
204216.5513.23-3.32
----
-0.31-0.020.29
204316.4913.22-3.26
----
-0.32-0.020.30
204416.4313.22-3.21
----
-0.33-0.020.31
204516.3813.22-3.17
----
-0.33-0.020.31
204616.3413.22-3.12
----
-0.34-0.020.32
204716.3013.21-3.09
----
-0.35-0.020.33
204816.2713.21-3.05
----
-0.35-0.020.33
204916.2313.21-3.02
----
-0.35-0.020.33
205016.2113.21-3.00
----
-0.36-0.020.34
205116.1913.21-2.98
----
-0.36-0.020.34
205216.1913.21-2.98
----
-0.37-0.020.35
205316.2013.21-2.99
----
-0.37-0.020.35
205416.2213.21-3.00
----
-0.37-0.020.35
205516.2413.22-3.03
----
-0.37-0.020.35
205616.2813.22-3.06
----
-0.38-0.020.36
205716.3213.22-3.10
----
-0.38-0.020.36
205816.3613.22-3.13
----
-0.38-0.020.36
205916.4013.23-3.17
----
-0.38-0.020.36
206016.4413.23-3.21
----
-0.38-0.020.36
206116.4913.23-3.25
----
-0.39-0.020.36
206216.5313.24-3.30
----
-0.39-0.020.37
206316.5813.24-3.34
----
-0.39-0.020.37
206416.6313.24-3.38
----
-0.39-0.020.37
206516.6713.25-3.43
----
-0.39-0.020.37
206616.7213.25-3.48
----
-0.39-0.020.37
206716.7713.25-3.52
----
-0.39-0.020.37
206816.8313.26-3.57
----
-0.40-0.020.37
206916.8813.26-3.62
----
-0.40-0.020.37
207016.9313.26-3.67
----
-0.40-0.020.38
207116.9713.26-3.71
----
-0.40-0.020.38
207217.0113.27-3.74
----
-0.40-0.020.38
207317.0513.27-3.78
----
-0.40-0.020.38
207417.0813.27-3.81
----
-0.40-0.020.38
207517.1013.27-3.83
----
-0.40-0.020.38
207617.1213.28-3.84
----
-0.40-0.020.38
207717.1213.28-3.85
----
-0.40-0.020.38
207817.1213.28-3.85
----
-0.40-0.020.38
207917.1213.28-3.84
----
-0.40-0.020.38
208017.1113.27-3.84
----
-0.40-0.020.38
208117.1113.27-3.83
----
-0.40-0.020.38
208217.1113.27-3.83
----
-0.40-0.020.38
208317.1113.27-3.84
----
-0.40-0.020.38
208417.1313.28-3.85
----
-0.40-0.020.38
208517.1513.28-3.88
----
-0.40-0.020.38
208617.1813.28-3.90
----
-0.40-0.020.38
208717.2213.28-3.94
----
-0.40-0.020.38
208817.2613.28-3.97
----
-0.40-0.020.38
208917.3013.29-4.01
----
-0.40-0.020.38
209017.3513.29-4.06
----
-0.40-0.020.38
209117.3913.29-4.10
----
-0.40-0.020.38
209217.4413.29-4.14
----
-0.40-0.020.38


Summarized Estimates

  Proposal   Change from Current Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
2017-2091 16.38% 13.82% -2.56%
2035
-0.29% -0.02% 0.27%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2017 Trustees Report.