Detailed Single Year Tables
Description of Proposed Provision:
D2: The current spouse benefit is based on 50 percent of the PIA of the other spouse. Reduce this percent each year by 1 percentage point beginning with newly eligible spouses in 2021, until the percent reaches 33 in 2037.
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 | 14.43 | 12.94 | -1.49 | 217 | -0.00 | -0.00 | 0.00 | ||
| 2024 | 14.64 | 12.98 | -1.67 | 200 | -0.00 | -0.00 | 0.00 | ||
| 2025 | 14.88 | 13.00 | -1.88 | 183 | -0.00 | -0.00 | 0.00 | ||
| 2026 | 15.11 | 13.12 | -1.98 | 165 | -0.00 | -0.00 | 0.00 | ||
| 2027 | 15.34 | 13.15 | -2.19 | 148 | -0.01 | -0.00 | 0.01 | ||
| 2028 | 15.57 | 13.19 | -2.39 | 130 | -0.01 | -0.00 | 0.01 | ||
| 2029 | 15.82 | 13.23 | -2.59 | 112 | -0.01 | -0.00 | 0.01 | ||
| 2030 | 16.01 | 13.24 | -2.76 | 94 | -0.02 | -0.00 | 0.02 | ||
| 2031 | 16.17 | 13.25 | -2.91 | 76 | -0.02 | -0.00 | 0.02 | ||
| 2032 | 16.30 | 13.27 | -3.04 | 58 | -0.03 | -0.00 | 0.03 | ||
| 2033 | 16.42 | 13.28 | -3.14 | 40 | -0.04 | -0.00 | 0.03 | ||
| 2034 | 16.51 | 13.28 | -3.22 | 21 | -0.04 | -0.00 | 0.04 | ||
| 2035 | 16.58 | 13.29 | -3.29 | 2 | -0.05 | -0.00 | 0.05 | ||
| 2036 | 16.63 | 13.30 | -3.33 | ---- | -0.06 | -0.00 | 0.05 | ||
| 2037 | 16.67 | 13.30 | -3.37 | ---- | -0.07 | -0.00 | 0.06 | ||
| 2038 | 16.71 | 13.30 | -3.40 | ---- | -0.08 | -0.00 | 0.07 | ||
| 2039 | 16.73 | 13.31 | -3.42 | ---- | -0.08 | -0.00 | 0.08 | ||
| 2040 | 16.76 | 13.31 | -3.44 | ---- | -0.09 | -0.01 | 0.09 | ||
| 2041 | 16.76 | 13.31 | -3.45 | ---- | -0.10 | -0.01 | 0.09 | ||
| 2042 | 16.75 | 13.31 | -3.44 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2043 | 16.74 | 13.31 | -3.43 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2044 | 16.72 | 13.31 | -3.40 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2045 | 16.70 | 13.31 | -3.38 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2046 | 16.68 | 13.31 | -3.36 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2047 | 16.66 | 13.31 | -3.35 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2048 | 16.66 | 13.31 | -3.34 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2049 | 16.65 | 13.31 | -3.34 | ---- | -0.13 | -0.01 | 0.13 | ||
| 2050 | 16.65 | 13.31 | -3.34 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2051 | 16.65 | 13.32 | -3.34 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2052 | 16.67 | 13.32 | -3.35 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2053 | 16.69 | 13.32 | -3.37 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2054 | 16.72 | 13.32 | -3.39 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2055 | 16.75 | 13.33 | -3.42 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2056 | 16.79 | 13.33 | -3.46 | ---- | -0.14 | -0.01 | 0.14 | ||
| 2057 | 16.83 | 13.33 | -3.50 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2058 | 16.88 | 13.34 | -3.54 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2059 | 16.94 | 13.34 | -3.59 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2060 | 17.00 | 13.35 | -3.65 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2061 | 17.06 | 13.35 | -3.70 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2062 | 17.12 | 13.36 | -3.76 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2063 | 17.18 | 13.36 | -3.82 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2064 | 17.24 | 13.37 | -3.88 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2065 | 17.31 | 13.37 | -3.94 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2066 | 17.37 | 13.38 | -4.00 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2067 | 17.44 | 13.38 | -4.06 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2068 | 17.51 | 13.39 | -4.12 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2069 | 17.58 | 13.39 | -4.19 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2070 | 17.65 | 13.40 | -4.25 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2071 | 17.72 | 13.40 | -4.32 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2072 | 17.77 | 13.41 | -4.37 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2073 | 17.83 | 13.41 | -4.42 | ---- | -0.15 | -0.01 | 0.15 | ||
| 2074 | 17.88 | 13.41 | -4.47 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2075 | 17.92 | 13.42 | -4.51 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2076 | 17.96 | 13.42 | -4.54 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2077 | 17.98 | 13.42 | -4.56 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2078 | 18.00 | 13.42 | -4.57 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2079 | 17.99 | 13.42 | -4.57 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2080 | 17.98 | 13.42 | -4.56 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2081 | 17.96 | 13.42 | -4.54 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2082 | 17.94 | 13.42 | -4.52 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2083 | 17.91 | 13.42 | -4.49 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2084 | 17.88 | 13.42 | -4.46 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2085 | 17.84 | 13.42 | -4.42 | ---- | -0.15 | -0.01 | 0.15 | ||
| 2086 | 17.80 | 13.41 | -4.39 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2087 | 17.77 | 13.41 | -4.36 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2088 | 17.74 | 13.41 | -4.33 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2089 | 17.72 | 13.41 | -4.31 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2090 | 17.71 | 13.41 | -4.30 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2091 | 17.71 | 13.41 | -4.31 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2092 | 17.73 | 13.41 | -4.32 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2093 | 17.75 | 13.41 | -4.34 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2094 | 17.78 | 13.41 | -4.37 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2095 | 17.82 | 13.42 | -4.40 | ---- | -0.15 | -0.01 | 0.15 | ||
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 | 16.95% | 13.84% | -3.11% | 2035 | -0.11% | -0.01% | 0.10% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2020 Trustees Report.