Detailed Single Year Tables
Description of Proposed Provision:
A2: Starting December 2020, reduce the annual COLA by 0.5 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 | 14.02 | 12.89 | -1.13 | 246 | -0.07 | -0.00 | 0.06 | ||
| 2022 | 14.09 | 12.91 | -1.18 | 232 | -0.14 | -0.01 | 0.13 | ||
| 2023 | 14.19 | 12.93 | -1.26 | 218 | -0.20 | -0.01 | 0.19 | ||
| 2024 | 14.32 | 12.96 | -1.36 | 203 | -0.27 | -0.01 | 0.26 | ||
| 2025 | 14.45 | 12.97 | -1.48 | 189 | -0.34 | -0.01 | 0.32 | ||
| 2026 | 14.59 | 13.09 | -1.49 | 174 | -0.40 | -0.02 | 0.38 | ||
| 2027 | 14.72 | 13.11 | -1.62 | 160 | -0.47 | -0.02 | 0.44 | ||
| 2028 | 14.90 | 13.15 | -1.76 | 146 | -0.53 | -0.03 | 0.50 | ||
| 2029 | 15.04 | 13.16 | -1.88 | 133 | -0.59 | -0.03 | 0.56 | ||
| 2030 | 15.16 | 13.17 | -1.99 | 119 | -0.65 | -0.03 | 0.61 | ||
| 2031 | 15.26 | 13.18 | -2.09 | 106 | -0.70 | -0.04 | 0.66 | ||
| 2032 | 15.36 | 13.19 | -2.17 | 92 | -0.75 | -0.04 | 0.71 | ||
| 2033 | 15.43 | 13.19 | -2.24 | 79 | -0.80 | -0.04 | 0.76 | ||
| 2034 | 15.48 | 13.20 | -2.28 | 65 | -0.84 | -0.05 | 0.80 | ||
| 2035 | 15.51 | 13.20 | -2.31 | 51 | -0.89 | -0.05 | 0.84 | ||
| 2036 | 15.54 | 13.21 | -2.33 | 37 | -0.92 | -0.05 | 0.87 | ||
| 2037 | 15.56 | 13.21 | -2.35 | 23 | -0.96 | -0.05 | 0.91 | ||
| 2038 | 15.57 | 13.21 | -2.36 | 8 | -0.99 | -0.06 | 0.94 | ||
| 2039 | 15.58 | 13.21 | -2.37 | ---- | -1.02 | -0.06 | 0.96 | ||
| 2040 | 15.57 | 13.21 | -2.35 | ---- | -1.05 | -0.06 | 0.99 | ||
| 2041 | 15.54 | 13.21 | -2.33 | ---- | -1.07 | -0.06 | 1.01 | ||
| 2042 | 15.50 | 13.21 | -2.29 | ---- | -1.09 | -0.06 | 1.03 | ||
| 2043 | 15.45 | 13.21 | -2.24 | ---- | -1.10 | -0.06 | 1.04 | ||
| 2044 | 15.40 | 13.21 | -2.20 | ---- | -1.12 | -0.06 | 1.05 | ||
| 2045 | 15.36 | 13.21 | -2.15 | ---- | -1.13 | -0.06 | 1.06 | ||
| 2046 | 15.32 | 13.21 | -2.11 | ---- | -1.14 | -0.06 | 1.07 | ||
| 2047 | 15.28 | 13.20 | -2.08 | ---- | -1.14 | -0.06 | 1.08 | ||
| 2048 | 15.26 | 13.20 | -2.05 | ---- | -1.15 | -0.06 | 1.08 | ||
| 2049 | 15.23 | 13.20 | -2.03 | ---- | -1.15 | -0.07 | 1.09 | ||
| 2050 | 15.21 | 13.20 | -2.01 | ---- | -1.15 | -0.07 | 1.09 | ||
| 2051 | 15.21 | 13.20 | -2.00 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2052 | 15.21 | 13.21 | -2.00 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2053 | 15.21 | 13.21 | -2.01 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2054 | 15.22 | 13.21 | -2.02 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2055 | 15.25 | 13.21 | -2.04 | ---- | -1.16 | -0.07 | 1.10 | ||
| 2056 | 15.28 | 13.21 | -2.06 | ---- | -1.16 | -0.07 | 1.10 | ||
| 2057 | 15.31 | 13.22 | -2.10 | ---- | -1.17 | -0.07 | 1.10 | ||
| 2058 | 15.36 | 13.22 | -2.13 | ---- | -1.17 | -0.07 | 1.10 | ||
| 2059 | 15.40 | 13.23 | -2.18 | ---- | -1.17 | -0.07 | 1.11 | ||
| 2060 | 15.45 | 13.23 | -2.22 | ---- | -1.18 | -0.07 | 1.11 | ||
| 2061 | 15.50 | 13.23 | -2.26 | ---- | -1.18 | -0.07 | 1.12 | ||
| 2062 | 15.54 | 13.24 | -2.31 | ---- | -1.19 | -0.07 | 1.12 | ||
| 2063 | 15.59 | 13.24 | -2.35 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2064 | 15.64 | 13.24 | -2.40 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2065 | 15.69 | 13.25 | -2.44 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2066 | 15.74 | 13.25 | -2.49 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2067 | 15.79 | 13.25 | -2.54 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2068 | 15.84 | 13.26 | -2.58 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2069 | 15.90 | 13.26 | -2.63 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2070 | 15.95 | 13.27 | -2.68 | ---- | -1.25 | -0.07 | 1.17 | ||
| 2071 | 16.00 | 13.27 | -2.73 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2072 | 16.04 | 13.27 | -2.77 | ---- | -1.26 | -0.07 | 1.19 | ||
| 2073 | 16.08 | 13.28 | -2.81 | ---- | -1.27 | -0.07 | 1.19 | ||
| 2074 | 16.12 | 13.28 | -2.84 | ---- | -1.27 | -0.07 | 1.20 | ||
| 2075 | 16.15 | 13.28 | -2.87 | ---- | -1.28 | -0.07 | 1.20 | ||
| 2076 | 16.17 | 13.28 | -2.89 | ---- | -1.28 | -0.07 | 1.21 | ||
| 2077 | 16.19 | 13.29 | -2.90 | ---- | -1.29 | -0.08 | 1.21 | ||
| 2078 | 16.19 | 13.29 | -2.90 | ---- | -1.29 | -0.08 | 1.22 | ||
| 2079 | 16.18 | 13.29 | -2.89 | ---- | -1.30 | -0.08 | 1.22 | ||
| 2080 | 16.16 | 13.28 | -2.88 | ---- | -1.30 | -0.08 | 1.23 | ||
| 2081 | 16.14 | 13.28 | -2.86 | ---- | -1.30 | -0.08 | 1.23 | ||
| 2082 | 16.12 | 13.28 | -2.83 | ---- | -1.31 | -0.08 | 1.23 | ||
| 2083 | 16.09 | 13.28 | -2.81 | ---- | -1.31 | -0.08 | 1.23 | ||
| 2084 | 16.07 | 13.28 | -2.79 | ---- | -1.31 | -0.08 | 1.23 | ||
| 2085 | 16.04 | 13.28 | -2.77 | ---- | -1.31 | -0.08 | 1.23 | ||
| 2086 | 16.03 | 13.28 | -2.75 | ---- | -1.31 | -0.08 | 1.24 | ||
| 2087 | 16.01 | 13.28 | -2.74 | ---- | -1.31 | -0.08 | 1.24 | ||
| 2088 | 16.01 | 13.28 | -2.74 | ---- | -1.31 | -0.08 | 1.24 | ||
| 2089 | 16.02 | 13.28 | -2.75 | ---- | -1.31 | -0.08 | 1.24 | ||
| 2090 | 16.04 | 13.28 | -2.76 | ---- | -1.32 | -0.08 | 1.24 | ||
| 2091 | 16.07 | 13.28 | -2.79 | ---- | -1.32 | -0.08 | 1.24 | ||
| 2092 | 16.11 | 13.28 | -2.83 | ---- | -1.32 | -0.08 | 1.24 | ||
| 2093 | 16.15 | 13.28 | -2.87 | ---- | -1.32 | -0.08 | 1.25 | ||
| 2094 | 16.20 | 13.29 | -2.91 | ---- | -1.33 | -0.08 | 1.25 | ||
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 | 15.59% | 13.75% | -1.83% | 2038 | -1.01% | -0.06% | 0.95% | ||
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.