Detailed Single Year Tables
Description of Proposed Provision:
A1: Starting December 2020, 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 |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 13.95 | 12.89 | -1.06 | 247 | -0.13 | -0.01 | 0.13 | ||
| 2022 | 13.96 | 12.91 | -1.05 | 235 | -0.27 | -0.01 | 0.26 | ||
| 2023 | 13.99 | 12.92 | -1.07 | 222 | -0.40 | -0.02 | 0.39 | ||
| 2024 | 14.05 | 12.95 | -1.10 | 210 | -0.54 | -0.02 | 0.51 | ||
| 2025 | 14.12 | 12.96 | -1.16 | 197 | -0.67 | -0.03 | 0.64 | ||
| 2026 | 14.19 | 13.07 | -1.12 | 185 | -0.80 | -0.04 | 0.76 | ||
| 2027 | 14.27 | 13.08 | -1.19 | 174 | -0.92 | -0.05 | 0.87 | ||
| 2028 | 14.39 | 13.12 | -1.27 | 163 | -1.04 | -0.06 | 0.99 | ||
| 2029 | 14.47 | 13.13 | -1.34 | 153 | -1.16 | -0.06 | 1.10 | ||
| 2030 | 14.54 | 13.14 | -1.40 | 143 | -1.27 | -0.07 | 1.20 | ||
| 2031 | 14.59 | 13.14 | -1.45 | 133 | -1.37 | -0.07 | 1.30 | ||
| 2032 | 14.64 | 13.15 | -1.49 | 123 | -1.47 | -0.08 | 1.39 | ||
| 2033 | 14.67 | 13.15 | -1.52 | 114 | -1.56 | -0.09 | 1.48 | ||
| 2034 | 14.68 | 13.16 | -1.53 | 105 | -1.64 | -0.09 | 1.55 | ||
| 2035 | 14.68 | 13.16 | -1.52 | 96 | -1.72 | -0.09 | 1.63 | ||
| 2036 | 14.67 | 13.16 | -1.51 | 87 | -1.79 | -0.10 | 1.69 | ||
| 2037 | 14.66 | 13.16 | -1.50 | 77 | -1.86 | -0.10 | 1.76 | ||
| 2038 | 14.65 | 13.16 | -1.49 | 68 | -1.92 | -0.11 | 1.81 | ||
| 2039 | 14.63 | 13.16 | -1.47 | 59 | -1.97 | -0.11 | 1.86 | ||
| 2040 | 14.60 | 13.16 | -1.43 | 50 | -2.02 | -0.11 | 1.91 | ||
| 2041 | 14.55 | 13.16 | -1.39 | 41 | -2.06 | -0.12 | 1.95 | ||
| 2042 | 14.49 | 13.16 | -1.34 | 32 | -2.10 | -0.12 | 1.98 | ||
| 2043 | 14.43 | 13.15 | -1.28 | 24 | -2.12 | -0.12 | 2.00 | ||
| 2044 | 14.38 | 13.15 | -1.22 | 15 | -2.15 | -0.12 | 2.03 | ||
| 2045 | 14.32 | 13.15 | -1.17 | 7 | -2.16 | -0.12 | 2.04 | ||
| 2046 | 14.27 | 13.15 | -1.13 | ---- | -2.18 | -0.12 | 2.06 | ||
| 2047 | 14.24 | 13.15 | -1.09 | ---- | -2.19 | -0.12 | 2.07 | ||
| 2048 | 14.21 | 13.15 | -1.06 | ---- | -2.20 | -0.12 | 2.07 | ||
| 2049 | 14.18 | 13.14 | -1.03 | ---- | -2.20 | -0.12 | 2.08 | ||
| 2050 | 14.16 | 13.14 | -1.01 | ---- | -2.21 | -0.13 | 2.08 | ||
| 2051 | 14.15 | 13.14 | -1.00 | ---- | -2.21 | -0.13 | 2.09 | ||
| 2052 | 14.15 | 13.15 | -1.00 | ---- | -2.22 | -0.13 | 2.09 | ||
| 2053 | 14.15 | 13.15 | -1.01 | ---- | -2.22 | -0.13 | 2.09 | ||
| 2054 | 14.17 | 13.15 | -1.02 | ---- | -2.22 | -0.13 | 2.09 | ||
| 2055 | 14.19 | 13.15 | -1.04 | ---- | -2.22 | -0.13 | 2.10 | ||
| 2056 | 14.22 | 13.15 | -1.06 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2057 | 14.25 | 13.16 | -1.09 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2058 | 14.29 | 13.16 | -1.13 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2059 | 14.33 | 13.16 | -1.17 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2060 | 14.37 | 13.17 | -1.21 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2061 | 14.42 | 13.17 | -1.25 | ---- | -2.26 | -0.13 | 2.13 | ||
| 2062 | 14.46 | 13.17 | -1.29 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2063 | 14.50 | 13.18 | -1.32 | ---- | -2.29 | -0.13 | 2.15 | ||
| 2064 | 14.54 | 13.18 | -1.36 | ---- | -2.30 | -0.13 | 2.17 | ||
| 2065 | 14.59 | 13.18 | -1.40 | ---- | -2.31 | -0.13 | 2.18 | ||
| 2066 | 14.63 | 13.19 | -1.44 | ---- | -2.32 | -0.13 | 2.19 | ||
| 2067 | 14.68 | 13.19 | -1.49 | ---- | -2.34 | -0.14 | 2.20 | ||
| 2068 | 14.72 | 13.19 | -1.53 | ---- | -2.35 | -0.14 | 2.21 | ||
| 2069 | 14.77 | 13.20 | -1.57 | ---- | -2.36 | -0.14 | 2.23 | ||
| 2070 | 14.82 | 13.20 | -1.62 | ---- | -2.38 | -0.14 | 2.24 | ||
| 2071 | 14.86 | 13.20 | -1.66 | ---- | -2.39 | -0.14 | 2.25 | ||
| 2072 | 14.90 | 13.21 | -1.69 | ---- | -2.40 | -0.14 | 2.26 | ||
| 2073 | 14.93 | 13.21 | -1.72 | ---- | -2.42 | -0.14 | 2.28 | ||
| 2074 | 14.96 | 13.21 | -1.75 | ---- | -2.43 | -0.14 | 2.29 | ||
| 2075 | 14.99 | 13.21 | -1.78 | ---- | -2.44 | -0.14 | 2.30 | ||
| 2076 | 15.01 | 13.22 | -1.79 | ---- | -2.45 | -0.14 | 2.31 | ||
| 2077 | 15.02 | 13.22 | -1.80 | ---- | -2.46 | -0.14 | 2.32 | ||
| 2078 | 15.01 | 13.22 | -1.80 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2079 | 15.00 | 13.22 | -1.78 | ---- | -2.48 | -0.14 | 2.33 | ||
| 2080 | 14.98 | 13.22 | -1.76 | ---- | -2.48 | -0.14 | 2.34 | ||
| 2081 | 14.96 | 13.21 | -1.74 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2082 | 14.93 | 13.21 | -1.72 | ---- | -2.49 | -0.15 | 2.35 | ||
| 2083 | 14.91 | 13.21 | -1.70 | ---- | -2.49 | -0.15 | 2.35 | ||
| 2084 | 14.88 | 13.21 | -1.67 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2085 | 14.86 | 13.21 | -1.65 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2086 | 14.84 | 13.21 | -1.63 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2087 | 14.83 | 13.21 | -1.62 | ---- | -2.50 | -0.15 | 2.36 | ||
| 2088 | 14.82 | 13.21 | -1.62 | ---- | -2.50 | -0.15 | 2.36 | ||
| 2089 | 14.83 | 13.21 | -1.63 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2090 | 14.85 | 13.21 | -1.64 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2091 | 14.88 | 13.21 | -1.67 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2092 | 14.91 | 13.21 | -1.70 | ---- | -2.51 | -0.15 | 2.37 | ||
| 2093 | 14.95 | 13.21 | -1.74 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2094 | 15.00 | 13.22 | -1.78 | ---- | -2.52 | -0.15 | 2.38 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 14.66% | 13.70% | -0.96% | 2045 | -1.93% | -0.11% | 1.82% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.