Description of Proposed Provision:
A1: Starting December 2019, reduce the annual COLA by 1 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 |
|||
| 2018 | 13.81 | 12.64 | -1.17 | 288 | 0.00 | 0.00 | 0.00 | ||
| 2019 | 13.95 | 12.87 | -1.08 | 272 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.99 | 12.89 | -1.10 | 258 | -0.14 | -0.01 | 0.13 | ||
| 2021 | 14.00 | 12.91 | -1.09 | 245 | -0.27 | -0.01 | 0.26 | ||
| 2022 | 14.03 | 12.93 | -1.10 | 232 | -0.40 | -0.02 | 0.39 | ||
| 2023 | 14.08 | 12.94 | -1.14 | 219 | -0.54 | -0.02 | 0.51 | ||
| 2024 | 14.14 | 12.97 | -1.17 | 206 | -0.67 | -0.03 | 0.64 | ||
| 2025 | 14.19 | 12.97 | -1.22 | 193 | -0.79 | -0.03 | 0.76 | ||
| 2026 | 14.25 | 13.09 | -1.16 | 181 | -0.91 | -0.05 | 0.87 | ||
| 2027 | 14.33 | 13.10 | -1.23 | 170 | -1.03 | -0.05 | 0.98 | ||
| 2028 | 14.44 | 13.11 | -1.32 | 160 | -1.15 | -0.06 | 1.09 | ||
| 2029 | 14.53 | 13.12 | -1.41 | 149 | -1.26 | -0.07 | 1.19 | ||
| 2030 | 14.62 | 13.13 | -1.49 | 139 | -1.36 | -0.07 | 1.29 | ||
| 2031 | 14.70 | 13.14 | -1.56 | 129 | -1.46 | -0.08 | 1.38 | ||
| 2032 | 14.76 | 13.14 | -1.62 | 119 | -1.55 | -0.08 | 1.47 | ||
| 2033 | 14.81 | 13.15 | -1.66 | 109 | -1.64 | -0.09 | 1.55 | ||
| 2034 | 14.84 | 13.15 | -1.69 | 99 | -1.72 | -0.09 | 1.63 | ||
| 2035 | 14.85 | 13.16 | -1.70 | 89 | -1.80 | -0.10 | 1.70 | ||
| 2036 | 14.86 | 13.16 | -1.70 | 79 | -1.86 | -0.10 | 1.76 | ||
| 2037 | 14.86 | 13.16 | -1.70 | 69 | -1.93 | -0.11 | 1.82 | ||
| 2038 | 14.84 | 13.16 | -1.68 | 58 | -1.98 | -0.11 | 1.87 | ||
| 2039 | 14.80 | 13.16 | -1.64 | 48 | -2.03 | -0.11 | 1.92 | ||
| 2040 | 14.75 | 13.16 | -1.60 | 38 | -2.07 | -0.12 | 1.96 | ||
| 2041 | 14.70 | 13.16 | -1.54 | 28 | -2.11 | -0.12 | 1.99 | ||
| 2042 | 14.63 | 13.15 | -1.48 | 18 | -2.14 | -0.12 | 2.02 | ||
| 2043 | 14.57 | 13.15 | -1.42 | 8 | -2.16 | -0.12 | 2.04 | ||
| 2044 | 14.51 | 13.15 | -1.36 | ---- | -2.18 | -0.12 | 2.06 | ||
| 2045 | 14.46 | 13.15 | -1.32 | ---- | -2.20 | -0.12 | 2.08 | ||
| 2046 | 14.42 | 13.14 | -1.27 | ---- | -2.21 | -0.12 | 2.09 | ||
| 2047 | 14.38 | 13.14 | -1.24 | ---- | -2.22 | -0.13 | 2.09 | ||
| 2048 | 14.35 | 13.14 | -1.21 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2049 | 14.32 | 13.14 | -1.18 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2050 | 14.31 | 13.14 | -1.17 | ---- | -2.23 | -0.13 | 2.11 | ||
| 2051 | 14.30 | 13.14 | -1.16 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2052 | 14.30 | 13.14 | -1.15 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2053 | 14.31 | 13.14 | -1.16 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2054 | 14.32 | 13.15 | -1.18 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2055 | 14.35 | 13.15 | -1.20 | ---- | -2.24 | -0.13 | 2.12 | ||
| 2056 | 14.38 | 13.15 | -1.23 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2057 | 14.41 | 13.15 | -1.26 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2058 | 14.46 | 13.16 | -1.30 | ---- | -2.26 | -0.13 | 2.13 | ||
| 2059 | 14.50 | 13.16 | -1.33 | ---- | -2.26 | -0.13 | 2.13 | ||
| 2060 | 14.54 | 13.16 | -1.37 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2061 | 14.58 | 13.17 | -1.41 | ---- | -2.28 | -0.13 | 2.15 | ||
| 2062 | 14.62 | 13.17 | -1.45 | ---- | -2.29 | -0.13 | 2.16 | ||
| 2063 | 14.66 | 13.17 | -1.48 | ---- | -2.30 | -0.13 | 2.17 | ||
| 2064 | 14.70 | 13.18 | -1.52 | ---- | -2.32 | -0.13 | 2.18 | ||
| 2065 | 14.74 | 13.18 | -1.56 | ---- | -2.33 | -0.13 | 2.19 | ||
| 2066 | 14.78 | 13.18 | -1.60 | ---- | -2.34 | -0.13 | 2.21 | ||
| 2067 | 14.83 | 13.19 | -1.64 | ---- | -2.35 | -0.14 | 2.22 | ||
| 2068 | 14.88 | 13.19 | -1.69 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2069 | 14.92 | 13.19 | -1.73 | ---- | -2.38 | -0.14 | 2.24 | ||
| 2070 | 14.97 | 13.20 | -1.77 | ---- | -2.39 | -0.14 | 2.26 | ||
| 2071 | 15.01 | 13.20 | -1.81 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2072 | 15.05 | 13.20 | -1.85 | ---- | -2.42 | -0.14 | 2.28 | ||
| 2073 | 15.08 | 13.21 | -1.88 | ---- | -2.43 | -0.14 | 2.29 | ||
| 2074 | 15.11 | 13.21 | -1.90 | ---- | -2.44 | -0.14 | 2.30 | ||
| 2075 | 15.13 | 13.21 | -1.92 | ---- | -2.46 | -0.14 | 2.31 | ||
| 2076 | 15.14 | 13.21 | -1.93 | ---- | -2.47 | -0.14 | 2.32 | ||
| 2077 | 15.15 | 13.21 | -1.94 | ---- | -2.48 | -0.14 | 2.33 | ||
| 2078 | 15.14 | 13.21 | -1.93 | ---- | -2.48 | -0.14 | 2.34 | ||
| 2079 | 15.13 | 13.21 | -1.92 | ---- | -2.49 | -0.14 | 2.35 | ||
| 2080 | 15.11 | 13.21 | -1.90 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2081 | 15.09 | 13.21 | -1.88 | ---- | -2.50 | -0.15 | 2.36 | ||
| 2082 | 15.07 | 13.21 | -1.86 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2083 | 15.05 | 13.21 | -1.84 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2084 | 15.03 | 13.21 | -1.82 | ---- | -2.51 | -0.15 | 2.37 | ||
| 2085 | 15.02 | 13.20 | -1.81 | ---- | -2.51 | -0.15 | 2.37 | ||
| 2086 | 15.01 | 13.20 | -1.81 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2087 | 15.01 | 13.20 | -1.81 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2088 | 15.02 | 13.20 | -1.82 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2089 | 15.04 | 13.21 | -1.84 | ---- | -2.52 | -0.15 | 2.38 | ||
| 2090 | 15.07 | 13.21 | -1.86 | ---- | -2.53 | -0.15 | 2.38 | ||
| 2091 | 15.10 | 13.21 | -1.89 | ---- | -2.53 | -0.15 | 2.38 | ||
| 2092 | 15.14 | 13.21 | -1.93 | ---- | -2.54 | -0.15 | 2.39 | ||
| 2093 | 15.18 | 13.22 | -1.97 | ---- | -2.54 | -0.15 | 2.39 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2018-2092 | 14.76% | 13.74% | -1.03% | 2043 | -1.92% | -0.11% | 1.81% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2018 Trustees Report.