Description of Proposed Provision:
B7.5: Increase benefits by 5 percent for all beneficiaries as of the beginning of 2018 and for those newly eligible for benefits after the beginning of 2018.
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 | 14.16 | 12.96 | -1.20 | 274 | 0.67 | 0.03 | -0.64 | ||
| 2019 | 14.38 | 12.97 | -1.40 | 256 | 0.68 | 0.03 | -0.65 | ||
| 2020 | 14.54 | 12.99 | -1.55 | 238 | 0.69 | 0.03 | -0.66 | ||
| 2021 | 14.71 | 13.02 | -1.69 | 221 | 0.69 | 0.03 | -0.66 | ||
| 2022 | 14.96 | 13.06 | -1.91 | 203 | 0.71 | 0.03 | -0.67 | ||
| 2023 | 15.26 | 13.08 | -2.18 | 184 | 0.72 | 0.03 | -0.69 | ||
| 2024 | 15.56 | 13.12 | -2.44 | 166 | 0.73 | 0.04 | -0.70 | ||
| 2025 | 15.85 | 13.14 | -2.71 | 146 | 0.75 | 0.04 | -0.71 | ||
| 2026 | 16.13 | 13.17 | -2.96 | 126 | 0.76 | 0.04 | -0.72 | ||
| 2027 | 16.39 | 13.19 | -3.20 | 106 | 0.77 | 0.04 | -0.74 | ||
| 2028 | 16.64 | 13.21 | -3.43 | 85 | 0.79 | 0.04 | -0.75 | ||
| 2029 | 16.86 | 13.22 | -3.64 | 64 | 0.80 | 0.04 | -0.76 | ||
| 2030 | 17.07 | 13.24 | -3.84 | 43 | 0.81 | 0.04 | -0.77 | ||
| 2031 | 17.26 | 13.25 | -4.01 | 21 | 0.82 | 0.04 | -0.77 | ||
| 2032 | 17.43 | 13.26 | -4.17 | ---- | 0.82 | 0.04 | -0.78 | ||
| 2033 | 17.57 | 13.27 | -4.30 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2034 | 17.68 | 13.28 | -4.41 | ---- | 0.84 | 0.04 | -0.79 | ||
| 2035 | 17.77 | 13.28 | -4.48 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2036 | 17.83 | 13.29 | -4.54 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2037 | 17.87 | 13.29 | -4.57 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2038 | 17.87 | 13.29 | -4.57 | ---- | 0.85 | 0.04 | -0.80 | ||
| 2039 | 17.84 | 13.29 | -4.55 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2040 | 17.80 | 13.29 | -4.51 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2041 | 17.75 | 13.29 | -4.47 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2042 | 17.70 | 13.29 | -4.41 | ---- | 0.84 | 0.04 | -0.79 | ||
| 2043 | 17.64 | 13.28 | -4.36 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2044 | 17.59 | 13.28 | -4.31 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2045 | 17.55 | 13.28 | -4.27 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2046 | 17.51 | 13.28 | -4.23 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2047 | 17.47 | 13.28 | -4.20 | ---- | 0.83 | 0.04 | -0.78 | ||
| 2048 | 17.44 | 13.28 | -4.17 | ---- | 0.83 | 0.04 | -0.78 | ||
| 2049 | 17.41 | 13.28 | -4.14 | ---- | 0.82 | 0.04 | -0.78 | ||
| 2050 | 17.39 | 13.27 | -4.12 | ---- | 0.82 | 0.04 | -0.78 | ||
| 2051 | 17.38 | 13.27 | -4.10 | ---- | 0.82 | 0.04 | -0.78 | ||
| 2052 | 17.38 | 13.28 | -4.10 | ---- | 0.82 | 0.04 | -0.78 | ||
| 2053 | 17.39 | 13.28 | -4.12 | ---- | 0.82 | 0.04 | -0.78 | ||
| 2054 | 17.41 | 13.28 | -4.14 | ---- | 0.82 | 0.04 | -0.78 | ||
| 2055 | 17.45 | 13.28 | -4.16 | ---- | 0.83 | 0.04 | -0.78 | ||
| 2056 | 17.48 | 13.28 | -4.20 | ---- | 0.83 | 0.04 | -0.78 | ||
| 2057 | 17.53 | 13.29 | -4.24 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2058 | 17.57 | 13.29 | -4.28 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2059 | 17.62 | 13.29 | -4.33 | ---- | 0.83 | 0.04 | -0.79 | ||
| 2060 | 17.67 | 13.30 | -4.37 | ---- | 0.84 | 0.04 | -0.79 | ||
| 2061 | 17.71 | 13.30 | -4.41 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2062 | 17.76 | 13.30 | -4.46 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2063 | 17.81 | 13.31 | -4.51 | ---- | 0.84 | 0.04 | -0.80 | ||
| 2064 | 17.86 | 13.31 | -4.55 | ---- | 0.85 | 0.04 | -0.80 | ||
| 2065 | 17.92 | 13.31 | -4.60 | ---- | 0.85 | 0.04 | -0.80 | ||
| 2066 | 17.97 | 13.32 | -4.65 | ---- | 0.85 | 0.04 | -0.81 | ||
| 2067 | 18.02 | 13.32 | -4.70 | ---- | 0.85 | 0.04 | -0.81 | ||
| 2068 | 18.08 | 13.32 | -4.76 | ---- | 0.86 | 0.05 | -0.81 | ||
| 2069 | 18.13 | 13.33 | -4.81 | ---- | 0.86 | 0.05 | -0.81 | ||
| 2070 | 18.19 | 13.33 | -4.86 | ---- | 0.86 | 0.05 | -0.82 | ||
| 2071 | 18.24 | 13.33 | -4.90 | ---- | 0.86 | 0.05 | -0.82 | ||
| 2072 | 18.28 | 13.34 | -4.94 | ---- | 0.87 | 0.05 | -0.82 | ||
| 2073 | 18.32 | 13.34 | -4.98 | ---- | 0.87 | 0.05 | -0.82 | ||
| 2074 | 18.35 | 13.34 | -5.01 | ---- | 0.87 | 0.05 | -0.82 | ||
| 2075 | 18.38 | 13.34 | -5.03 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2076 | 18.39 | 13.34 | -5.05 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2077 | 18.40 | 13.34 | -5.05 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2078 | 18.40 | 13.35 | -5.05 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2079 | 18.39 | 13.34 | -5.05 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2080 | 18.38 | 13.34 | -5.04 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2081 | 18.38 | 13.34 | -5.03 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2082 | 18.38 | 13.34 | -5.03 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2083 | 18.38 | 13.34 | -5.04 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2084 | 18.40 | 13.34 | -5.06 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2085 | 18.42 | 13.35 | -5.08 | ---- | 0.87 | 0.05 | -0.83 | ||
| 2086 | 18.46 | 13.35 | -5.11 | ---- | 0.88 | 0.05 | -0.83 | ||
| 2087 | 18.49 | 13.35 | -5.14 | ---- | 0.88 | 0.05 | -0.83 | ||
| 2088 | 18.54 | 13.35 | -5.18 | ---- | 0.88 | 0.05 | -0.83 | ||
| 2089 | 18.58 | 13.35 | -5.23 | ---- | 0.88 | 0.05 | -0.84 | ||
| 2090 | 18.63 | 13.36 | -5.27 | ---- | 0.88 | 0.05 | -0.84 | ||
| 2091 | 18.68 | 13.36 | -5.32 | ---- | 0.89 | 0.05 | -0.84 | ||
| 2092 | 18.73 | 13.36 | -5.37 | ---- | 0.89 | 0.05 | -0.84 | ||
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 | 17.48% | 13.88% | -3.60% | 2031 | 0.82% | 0.04% | -0.78% | ||
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.