Description of Proposed Provision:
B7.1: Reduce benefits by 3 percent for those newly eligible for benefits in 2018 and later.
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 | 13.48 | 12.93 | -0.55 | 287 | -0.00 | -0.00 | 0.00 | ||
| 2019 | 13.68 | 12.94 | -0.74 | 273 | -0.01 | -0.00 | 0.01 | ||
| 2020 | 13.83 | 12.96 | -0.87 | 259 | -0.03 | -0.00 | 0.03 | ||
| 2021 | 13.98 | 12.99 | -0.99 | 246 | -0.04 | -0.00 | 0.04 | ||
| 2022 | 14.20 | 13.02 | -1.18 | 232 | -0.06 | -0.00 | 0.06 | ||
| 2023 | 14.46 | 13.05 | -1.42 | 217 | -0.08 | -0.00 | 0.08 | ||
| 2024 | 14.72 | 13.08 | -1.64 | 202 | -0.10 | -0.00 | 0.10 | ||
| 2025 | 14.97 | 13.10 | -1.87 | 186 | -0.13 | -0.01 | 0.12 | ||
| 2026 | 15.22 | 13.13 | -2.09 | 170 | -0.15 | -0.01 | 0.14 | ||
| 2027 | 15.44 | 13.14 | -2.30 | 153 | -0.18 | -0.01 | 0.17 | ||
| 2028 | 15.65 | 13.16 | -2.49 | 136 | -0.20 | -0.01 | 0.19 | ||
| 2029 | 15.84 | 13.17 | -2.67 | 120 | -0.22 | -0.01 | 0.21 | ||
| 2030 | 16.02 | 13.18 | -2.84 | 102 | -0.25 | -0.01 | 0.23 | ||
| 2031 | 16.18 | 13.19 | -2.99 | 85 | -0.27 | -0.01 | 0.26 | ||
| 2032 | 16.32 | 13.20 | -3.11 | 67 | -0.29 | -0.01 | 0.27 | ||
| 2033 | 16.43 | 13.21 | -3.22 | 49 | -0.31 | -0.02 | 0.29 | ||
| 2034 | 16.52 | 13.22 | -3.30 | 30 | -0.33 | -0.02 | 0.31 | ||
| 2035 | 16.58 | 13.22 | -3.36 | 11 | -0.34 | -0.02 | 0.33 | ||
| 2036 | 16.63 | 13.23 | -3.40 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2037 | 16.65 | 13.23 | -3.42 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2038 | 16.63 | 13.23 | -3.40 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2039 | 16.60 | 13.23 | -3.37 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2040 | 16.55 | 13.23 | -3.32 | ---- | -0.41 | -0.02 | 0.39 | ||
| 2041 | 16.49 | 13.22 | -3.27 | ---- | -0.42 | -0.02 | 0.40 | ||
| 2042 | 16.43 | 13.22 | -3.21 | ---- | -0.43 | -0.02 | 0.41 | ||
| 2043 | 16.37 | 13.22 | -3.15 | ---- | -0.44 | -0.02 | 0.42 | ||
| 2044 | 16.31 | 13.22 | -3.10 | ---- | -0.45 | -0.02 | 0.42 | ||
| 2045 | 16.26 | 13.21 | -3.05 | ---- | -0.45 | -0.02 | 0.43 | ||
| 2046 | 16.22 | 13.21 | -3.01 | ---- | -0.46 | -0.02 | 0.44 | ||
| 2047 | 16.18 | 13.21 | -2.97 | ---- | -0.47 | -0.02 | 0.44 | ||
| 2048 | 16.15 | 13.21 | -2.94 | ---- | -0.47 | -0.02 | 0.45 | ||
| 2049 | 16.11 | 13.21 | -2.91 | ---- | -0.47 | -0.02 | 0.45 | ||
| 2050 | 16.09 | 13.21 | -2.88 | ---- | -0.48 | -0.02 | 0.45 | ||
| 2051 | 16.07 | 13.21 | -2.87 | ---- | -0.48 | -0.02 | 0.46 | ||
| 2052 | 16.07 | 13.21 | -2.87 | ---- | -0.48 | -0.03 | 0.46 | ||
| 2053 | 16.08 | 13.21 | -2.87 | ---- | -0.49 | -0.03 | 0.46 | ||
| 2054 | 16.10 | 13.21 | -2.89 | ---- | -0.49 | -0.03 | 0.46 | ||
| 2055 | 16.13 | 13.21 | -2.92 | ---- | -0.49 | -0.03 | 0.47 | ||
| 2056 | 16.16 | 13.21 | -2.95 | ---- | -0.49 | -0.03 | 0.47 | ||
| 2057 | 16.20 | 13.22 | -2.98 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2058 | 16.24 | 13.22 | -3.02 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2059 | 16.28 | 13.22 | -3.06 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2060 | 16.33 | 13.23 | -3.10 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2061 | 16.37 | 13.23 | -3.14 | ---- | -0.50 | -0.03 | 0.48 | ||
| 2062 | 16.42 | 13.23 | -3.18 | ---- | -0.50 | -0.03 | 0.48 | ||
| 2063 | 16.46 | 13.24 | -3.23 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2064 | 16.51 | 13.24 | -3.27 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2065 | 16.56 | 13.24 | -3.31 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2066 | 16.61 | 13.24 | -3.36 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2067 | 16.66 | 13.25 | -3.41 | ---- | -0.51 | -0.03 | 0.49 | ||
| 2068 | 16.71 | 13.25 | -3.46 | ---- | -0.51 | -0.03 | 0.49 | ||
| 2069 | 16.76 | 13.25 | -3.50 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2070 | 16.81 | 13.26 | -3.55 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2071 | 16.85 | 13.26 | -3.59 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2072 | 16.89 | 13.26 | -3.63 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2073 | 16.93 | 13.27 | -3.66 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2074 | 16.96 | 13.27 | -3.69 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2075 | 16.98 | 13.27 | -3.71 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2076 | 16.99 | 13.27 | -3.72 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2077 | 17.00 | 13.27 | -3.73 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2078 | 17.00 | 13.27 | -3.73 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2079 | 16.99 | 13.27 | -3.72 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2080 | 16.99 | 13.27 | -3.72 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2081 | 16.98 | 13.27 | -3.71 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2082 | 16.98 | 13.27 | -3.71 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2083 | 16.99 | 13.27 | -3.72 | ---- | -0.52 | -0.03 | 0.50 | ||
| 2084 | 17.00 | 13.27 | -3.73 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2085 | 17.02 | 13.27 | -3.75 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2086 | 17.05 | 13.27 | -3.78 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2087 | 17.09 | 13.28 | -3.81 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2088 | 17.13 | 13.28 | -3.85 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2089 | 17.17 | 13.28 | -3.89 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2090 | 17.22 | 13.28 | -3.93 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2091 | 17.26 | 13.29 | -3.98 | ---- | -0.53 | -0.03 | 0.51 | ||
| 2092 | 17.31 | 13.29 | -4.02 | ---- | -0.53 | -0.03 | 0.51 | ||
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 | 16.28% | 13.82% | -2.46% | 2035 | -0.39% | -0.02% | 0.37% | ||
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.