Description of Proposed Provision:
D3: Allow divorced aged spouses and divorced surviving spouses married 5 to 9 years to get benefits based on the former spouse's account. Divorced aged and surviving spouses would receive 50% of the applicable current-law PIA percentage if married 5 years, 60% of the applicable PIA percentage if married 6 years, ..., 90% of the applicable PIA percentage if married 9 years. This benefit would be available to divorced spouses on the rolls at the beginning of 2020 and those becoming eligible after 2020.
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 | 14.15 | 12.89 | -1.26 | 255 | 0.03 | 0.00 | -0.02 | ||
| 2021 | 14.30 | 12.92 | -1.38 | 239 | 0.03 | 0.00 | -0.02 | ||
| 2022 | 14.46 | 12.95 | -1.52 | 222 | 0.02 | 0.00 | -0.02 | ||
| 2023 | 14.65 | 12.97 | -1.68 | 205 | 0.02 | 0.00 | -0.02 | ||
| 2024 | 14.83 | 12.99 | -1.83 | 187 | 0.02 | 0.00 | -0.02 | ||
| 2025 | 15.01 | 13.01 | -2.00 | 170 | 0.02 | 0.00 | -0.02 | ||
| 2026 | 15.18 | 13.13 | -2.05 | 153 | 0.02 | 0.00 | -0.02 | ||
| 2027 | 15.39 | 13.15 | -2.23 | 136 | 0.02 | 0.00 | -0.02 | ||
| 2028 | 15.61 | 13.17 | -2.43 | 119 | 0.02 | 0.00 | -0.02 | ||
| 2029 | 15.82 | 13.19 | -2.63 | 102 | 0.02 | 0.00 | -0.02 | ||
| 2030 | 16.01 | 13.20 | -2.80 | 85 | 0.02 | 0.00 | -0.02 | ||
| 2031 | 16.18 | 13.22 | -2.97 | 67 | 0.02 | 0.00 | -0.02 | ||
| 2032 | 16.34 | 13.23 | -3.11 | 50 | 0.02 | 0.00 | -0.02 | ||
| 2033 | 16.48 | 13.24 | -3.24 | 31 | 0.02 | 0.00 | -0.02 | ||
| 2034 | 16.59 | 13.25 | -3.34 | 12 | 0.02 | 0.00 | -0.02 | ||
| 2035 | 16.67 | 13.26 | -3.42 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2036 | 16.75 | 13.26 | -3.48 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2037 | 16.81 | 13.27 | -3.54 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2038 | 16.84 | 13.27 | -3.57 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2039 | 16.85 | 13.27 | -3.58 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2040 | 16.85 | 13.27 | -3.58 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2041 | 16.83 | 13.27 | -3.56 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2042 | 16.80 | 13.27 | -3.52 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2043 | 16.76 | 13.27 | -3.48 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2044 | 16.72 | 13.27 | -3.44 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2045 | 16.68 | 13.27 | -3.41 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2046 | 16.65 | 13.27 | -3.38 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2047 | 16.62 | 13.27 | -3.35 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2048 | 16.60 | 13.27 | -3.33 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2049 | 16.57 | 13.27 | -3.31 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2050 | 16.56 | 13.27 | -3.29 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2051 | 16.55 | 13.27 | -3.28 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2052 | 16.55 | 13.27 | -3.28 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2053 | 16.56 | 13.27 | -3.29 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2054 | 16.58 | 13.27 | -3.30 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2055 | 16.61 | 13.28 | -3.33 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2056 | 16.64 | 13.28 | -3.36 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2057 | 16.68 | 13.28 | -3.40 | ---- | 0.02 | 0.00 | -0.01 | ||
| 2058 | 16.73 | 13.29 | -3.44 | ---- | 0.02 | 0.00 | -0.01 | ||
| 2059 | 16.78 | 13.29 | -3.48 | ---- | 0.02 | 0.00 | -0.01 | ||
| 2060 | 16.82 | 13.30 | -3.53 | ---- | 0.02 | 0.00 | -0.01 | ||
| 2061 | 16.87 | 13.30 | -3.57 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2062 | 16.92 | 13.30 | -3.62 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2063 | 16.98 | 13.31 | -3.67 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2064 | 17.03 | 13.31 | -3.72 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2065 | 17.08 | 13.32 | -3.77 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2066 | 17.14 | 13.32 | -3.82 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2067 | 17.20 | 13.32 | -3.87 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2068 | 17.26 | 13.33 | -3.93 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2069 | 17.32 | 13.33 | -3.99 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2070 | 17.38 | 13.34 | -4.04 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2071 | 17.43 | 13.34 | -4.09 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2072 | 17.48 | 13.34 | -4.14 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2073 | 17.53 | 13.35 | -4.18 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2074 | 17.57 | 13.35 | -4.22 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2075 | 17.60 | 13.35 | -4.25 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2076 | 17.62 | 13.36 | -4.27 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2077 | 17.64 | 13.36 | -4.28 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2078 | 17.64 | 13.36 | -4.28 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2079 | 17.63 | 13.36 | -4.28 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2080 | 17.62 | 13.36 | -4.26 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2081 | 17.60 | 13.36 | -4.25 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2082 | 17.59 | 13.35 | -4.23 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2083 | 17.57 | 13.35 | -4.21 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2084 | 17.55 | 13.35 | -4.20 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2085 | 17.54 | 13.35 | -4.19 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2086 | 17.54 | 13.35 | -4.19 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2087 | 17.55 | 13.35 | -4.19 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2088 | 17.56 | 13.35 | -4.21 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2089 | 17.58 | 13.35 | -4.23 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2090 | 17.61 | 13.36 | -4.26 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2091 | 17.65 | 13.36 | -4.29 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2092 | 17.69 | 13.36 | -4.33 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2093 | 17.74 | 13.36 | -4.37 | ---- | 0.01 | 0.00 | -0.01 | ||
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 | 16.70% | 13.84% | -2.86% | 2034 | 0.02% | 0.00% | -0.02% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
|||||||||
Based on Intermediate Assumptions of the 2018 Trustees Report.