Detailed Single Year Tables
Description of Proposed Provision:
A6: Starting December 2022, compute the COLA using the Consumer Price Index for the Elderly (CPI-E). We estimate this new computation will increase the annual COLA by about 0.2 percentage point, on average.
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 |
|||
| 2020 | 13.92 | 13.00 | -0.92 | 261 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.05 | 12.90 | -1.15 | 248 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.25 | 12.93 | -1.32 | 233 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.46 | 12.95 | -1.52 | 216 | 0.03 | 0.00 | -0.03 | ||
| 2024 | 14.70 | 12.98 | -1.72 | 199 | 0.06 | 0.00 | -0.05 | ||
| 2025 | 14.96 | 13.00 | -1.96 | 181 | 0.08 | 0.00 | -0.08 | ||
| 2026 | 15.23 | 13.13 | -2.10 | 163 | 0.11 | 0.01 | -0.11 | ||
| 2027 | 15.49 | 13.16 | -2.33 | 145 | 0.14 | 0.01 | -0.14 | ||
| 2028 | 15.76 | 13.20 | -2.56 | 126 | 0.17 | 0.01 | -0.16 | ||
| 2029 | 16.03 | 13.24 | -2.80 | 107 | 0.20 | 0.01 | -0.19 | ||
| 2030 | 16.25 | 13.25 | -3.00 | 88 | 0.23 | 0.01 | -0.22 | ||
| 2031 | 16.44 | 13.27 | -3.17 | 69 | 0.25 | 0.01 | -0.24 | ||
| 2032 | 16.61 | 13.28 | -3.33 | 50 | 0.28 | 0.02 | -0.26 | ||
| 2033 | 16.75 | 13.29 | -3.46 | 30 | 0.30 | 0.02 | -0.29 | ||
| 2034 | 16.88 | 13.30 | -3.57 | 10 | 0.33 | 0.02 | -0.31 | ||
| 2035 | 16.97 | 13.31 | -3.66 | ---- | 0.35 | 0.02 | -0.33 | ||
| 2036 | 17.05 | 13.32 | -3.73 | ---- | 0.37 | 0.02 | -0.34 | ||
| 2037 | 17.12 | 13.33 | -3.80 | ---- | 0.38 | 0.02 | -0.36 | ||
| 2038 | 17.19 | 13.33 | -3.85 | ---- | 0.40 | 0.02 | -0.38 | ||
| 2039 | 17.23 | 13.34 | -3.90 | ---- | 0.42 | 0.02 | -0.39 | ||
| 2040 | 17.28 | 13.34 | -3.94 | ---- | 0.43 | 0.02 | -0.41 | ||
| 2041 | 17.30 | 13.34 | -3.96 | ---- | 0.44 | 0.03 | -0.42 | ||
| 2042 | 17.31 | 13.34 | -3.97 | ---- | 0.46 | 0.03 | -0.43 | ||
| 2043 | 17.31 | 13.35 | -3.97 | ---- | 0.47 | 0.03 | -0.44 | ||
| 2044 | 17.31 | 13.35 | -3.96 | ---- | 0.47 | 0.03 | -0.45 | ||
| 2045 | 17.30 | 13.35 | -3.95 | ---- | 0.48 | 0.03 | -0.45 | ||
| 2046 | 17.29 | 13.35 | -3.94 | ---- | 0.49 | 0.03 | -0.46 | ||
| 2047 | 17.28 | 13.35 | -3.94 | ---- | 0.49 | 0.03 | -0.46 | ||
| 2048 | 17.29 | 13.35 | -3.94 | ---- | 0.50 | 0.03 | -0.47 | ||
| 2049 | 17.29 | 13.35 | -3.94 | ---- | 0.50 | 0.03 | -0.47 | ||
| 2050 | 17.29 | 13.35 | -3.94 | ---- | 0.50 | 0.03 | -0.47 | ||
| 2051 | 17.30 | 13.35 | -3.95 | ---- | 0.51 | 0.03 | -0.48 | ||
| 2052 | 17.32 | 13.36 | -3.96 | ---- | 0.51 | 0.03 | -0.48 | ||
| 2053 | 17.34 | 13.36 | -3.98 | ---- | 0.51 | 0.03 | -0.48 | ||
| 2054 | 17.37 | 13.36 | -4.01 | ---- | 0.51 | 0.03 | -0.48 | ||
| 2055 | 17.41 | 13.36 | -4.04 | ---- | 0.51 | 0.03 | -0.48 | ||
| 2056 | 17.45 | 13.37 | -4.08 | ---- | 0.52 | 0.03 | -0.49 | ||
| 2057 | 17.49 | 13.37 | -4.12 | ---- | 0.52 | 0.03 | -0.49 | ||
| 2058 | 17.55 | 13.38 | -4.17 | ---- | 0.52 | 0.03 | -0.49 | ||
| 2059 | 17.61 | 13.38 | -4.22 | ---- | 0.52 | 0.03 | -0.49 | ||
| 2060 | 17.67 | 13.39 | -4.28 | ---- | 0.52 | 0.03 | -0.49 | ||
| 2061 | 17.73 | 13.39 | -4.34 | ---- | 0.53 | 0.03 | -0.50 | ||
| 2062 | 17.80 | 13.40 | -4.40 | ---- | 0.53 | 0.03 | -0.50 | ||
| 2063 | 17.86 | 13.40 | -4.46 | ---- | 0.53 | 0.03 | -0.50 | ||
| 2064 | 17.93 | 13.41 | -4.52 | ---- | 0.54 | 0.03 | -0.50 | ||
| 2065 | 18.00 | 13.41 | -4.58 | ---- | 0.54 | 0.03 | -0.51 | ||
| 2066 | 18.07 | 13.42 | -4.65 | ---- | 0.54 | 0.03 | -0.51 | ||
| 2067 | 18.14 | 13.42 | -4.72 | ---- | 0.55 | 0.03 | -0.51 | ||
| 2068 | 18.21 | 13.43 | -4.79 | ---- | 0.55 | 0.03 | -0.52 | ||
| 2069 | 18.29 | 13.43 | -4.85 | ---- | 0.55 | 0.03 | -0.52 | ||
| 2070 | 18.36 | 13.44 | -4.92 | ---- | 0.56 | 0.03 | -0.52 | ||
| 2071 | 18.43 | 13.44 | -4.99 | ---- | 0.56 | 0.03 | -0.53 | ||
| 2072 | 18.49 | 13.45 | -5.05 | ---- | 0.56 | 0.03 | -0.53 | ||
| 2073 | 18.55 | 13.45 | -5.10 | ---- | 0.57 | 0.03 | -0.53 | ||
| 2074 | 18.61 | 13.46 | -5.15 | ---- | 0.57 | 0.03 | -0.54 | ||
| 2075 | 18.65 | 13.46 | -5.19 | ---- | 0.57 | 0.03 | -0.54 | ||
| 2076 | 18.69 | 13.46 | -5.23 | ---- | 0.58 | 0.03 | -0.54 | ||
| 2077 | 18.72 | 13.47 | -5.25 | ---- | 0.58 | 0.03 | -0.55 | ||
| 2078 | 18.73 | 13.47 | -5.27 | ---- | 0.58 | 0.03 | -0.55 | ||
| 2079 | 18.73 | 13.47 | -5.27 | ---- | 0.58 | 0.04 | -0.55 | ||
| 2080 | 18.72 | 13.47 | -5.26 | ---- | 0.59 | 0.04 | -0.55 | ||
| 2081 | 18.71 | 13.47 | -5.24 | ---- | 0.59 | 0.04 | -0.55 | ||
| 2082 | 18.68 | 13.47 | -5.22 | ---- | 0.59 | 0.04 | -0.55 | ||
| 2083 | 18.66 | 13.47 | -5.19 | ---- | 0.59 | 0.04 | -0.55 | ||
| 2084 | 18.62 | 13.46 | -5.16 | ---- | 0.59 | 0.04 | -0.55 | ||
| 2085 | 18.59 | 13.46 | -5.13 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2086 | 18.55 | 13.46 | -5.09 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2087 | 18.51 | 13.46 | -5.06 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2088 | 18.49 | 13.46 | -5.03 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2089 | 18.47 | 13.45 | -5.01 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2090 | 18.46 | 13.45 | -5.00 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2091 | 18.46 | 13.45 | -5.01 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2092 | 18.47 | 13.45 | -5.02 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2093 | 18.50 | 13.46 | -5.04 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2094 | 18.53 | 13.46 | -5.07 | ---- | 0.59 | 0.04 | -0.56 | ||
| 2095 | 18.57 | 13.46 | -5.11 | ---- | 0.59 | 0.04 | -0.56 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2020-2094 | 17.50% | 13.87% | -3.63% | 2034 | 0.44% | 0.03% | -0.41% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2020 Trustees Report.