Detailed Single Year Tables
Description of Proposed Provision:
A5: Starting December 2020, add 1 percentage point to the annual COLA for beneficiaries who have lived past a "specified age". The "specified age" is the sum of: (1) 65 and (2) the unisex cohort life expectancy at age 65.
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 | 14.10 | 12.90 | -1.20 | 245 | 0.01 | 0.00 | -0.01 | ||
| 2022 | 14.25 | 12.92 | -1.33 | 229 | 0.02 | 0.00 | -0.02 | ||
| 2023 | 14.43 | 12.94 | -1.49 | 213 | 0.04 | 0.00 | -0.03 | ||
| 2024 | 14.63 | 12.97 | -1.66 | 196 | 0.05 | 0.00 | -0.04 | ||
| 2025 | 14.84 | 12.99 | -1.85 | 179 | 0.05 | 0.00 | -0.05 | ||
| 2026 | 15.05 | 13.12 | -1.94 | 162 | 0.06 | 0.00 | -0.06 | ||
| 2027 | 15.26 | 13.14 | -2.12 | 145 | 0.07 | 0.00 | -0.06 | ||
| 2028 | 15.50 | 13.18 | -2.33 | 128 | 0.07 | 0.00 | -0.07 | ||
| 2029 | 15.70 | 13.19 | -2.51 | 111 | 0.08 | 0.00 | -0.07 | ||
| 2030 | 15.88 | 13.21 | -2.68 | 94 | 0.08 | 0.00 | -0.08 | ||
| 2031 | 16.05 | 13.22 | -2.83 | 77 | 0.08 | 0.00 | -0.08 | ||
| 2032 | 16.20 | 13.23 | -2.96 | 59 | 0.09 | 0.00 | -0.08 | ||
| 2033 | 16.32 | 13.24 | -3.08 | 42 | 0.09 | 0.01 | -0.09 | ||
| 2034 | 16.42 | 13.25 | -3.17 | 23 | 0.09 | 0.01 | -0.09 | ||
| 2035 | 16.50 | 13.26 | -3.24 | 5 | 0.10 | 0.01 | -0.09 | ||
| 2036 | 16.56 | 13.26 | -3.30 | ---- | 0.10 | 0.01 | -0.10 | ||
| 2037 | 16.62 | 13.27 | -3.35 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2038 | 16.67 | 13.27 | -3.40 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2039 | 16.72 | 13.28 | -3.44 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2040 | 16.73 | 13.28 | -3.45 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2041 | 16.73 | 13.28 | -3.45 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2042 | 16.72 | 13.28 | -3.43 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2043 | 16.68 | 13.28 | -3.40 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2044 | 16.65 | 13.28 | -3.37 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2045 | 16.61 | 13.28 | -3.33 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2046 | 16.58 | 13.28 | -3.30 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2047 | 16.55 | 13.28 | -3.27 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2048 | 16.53 | 13.28 | -3.25 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2049 | 16.51 | 13.28 | -3.23 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2050 | 16.49 | 13.28 | -3.22 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2051 | 16.49 | 13.28 | -3.21 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2052 | 16.49 | 13.28 | -3.21 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2053 | 16.50 | 13.28 | -3.22 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2054 | 16.51 | 13.28 | -3.23 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2055 | 16.54 | 13.29 | -3.25 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2056 | 16.57 | 13.29 | -3.28 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2057 | 16.61 | 13.29 | -3.32 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2058 | 16.65 | 13.30 | -3.36 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2059 | 16.70 | 13.30 | -3.40 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2060 | 16.75 | 13.30 | -3.45 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2061 | 16.80 | 13.31 | -3.49 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2062 | 16.85 | 13.31 | -3.54 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2063 | 16.90 | 13.32 | -3.59 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2064 | 16.96 | 13.32 | -3.63 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2065 | 17.01 | 13.32 | -3.68 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2066 | 17.06 | 13.33 | -3.74 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2067 | 17.12 | 13.33 | -3.79 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2068 | 17.18 | 13.34 | -3.85 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2069 | 17.24 | 13.34 | -3.90 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2070 | 17.30 | 13.34 | -3.96 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2071 | 17.36 | 13.35 | -4.01 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2072 | 17.41 | 13.35 | -4.06 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2073 | 17.46 | 13.36 | -4.10 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2074 | 17.51 | 13.36 | -4.15 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2075 | 17.55 | 13.36 | -4.18 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2076 | 17.58 | 13.37 | -4.21 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2077 | 17.60 | 13.37 | -4.23 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2078 | 17.60 | 13.37 | -4.24 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2079 | 17.60 | 13.37 | -4.23 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2080 | 17.59 | 13.37 | -4.22 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2081 | 17.57 | 13.37 | -4.20 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2082 | 17.54 | 13.37 | -4.18 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2083 | 17.52 | 13.36 | -4.16 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2084 | 17.50 | 13.36 | -4.13 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2085 | 17.47 | 13.36 | -4.11 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2086 | 17.45 | 13.36 | -4.09 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2087 | 17.44 | 13.36 | -4.08 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2088 | 17.44 | 13.36 | -4.08 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2089 | 17.45 | 13.36 | -4.09 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2090 | 17.47 | 13.36 | -4.11 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2091 | 17.50 | 13.36 | -4.14 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2092 | 17.54 | 13.37 | -4.18 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2093 | 17.59 | 13.37 | -4.22 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2094 | 17.64 | 13.37 | -4.27 | ---- | 0.12 | 0.01 | -0.11 | ||
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 | 16.70% | 13.82% | -2.88% | 2035 | 0.10% | 0.01% | -0.10% | ||
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.