Detailed Single Year Tables
Description of Proposed Provision:
A1: Starting December 2022, 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 |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.29 | 12.91 | -1.38 | 216 | -0.14 | -0.01 | 0.13 | ||
| 2024 | 14.36 | 12.93 | -1.43 | 201 | -0.28 | -0.01 | 0.27 | ||
| 2025 | 14.44 | 12.94 | -1.49 | 186 | -0.42 | -0.02 | 0.40 | ||
| 2026 | 14.55 | 13.05 | -1.49 | 171 | -0.56 | -0.03 | 0.53 | ||
| 2027 | 14.66 | 13.07 | -1.60 | 156 | -0.70 | -0.03 | 0.67 | ||
| 2028 | 14.79 | 13.10 | -1.69 | 142 | -0.84 | -0.04 | 0.80 | ||
| 2029 | 14.90 | 13.12 | -1.78 | 128 | -0.97 | -0.05 | 0.92 | ||
| 2030 | 15.01 | 13.13 | -1.87 | 114 | -1.10 | -0.06 | 1.05 | ||
| 2031 | 15.06 | 13.14 | -1.92 | 101 | -1.23 | -0.06 | 1.16 | ||
| 2032 | 15.10 | 13.15 | -1.95 | 88 | -1.34 | -0.07 | 1.27 | ||
| 2033 | 15.11 | 13.15 | -1.96 | 75 | -1.45 | -0.08 | 1.37 | ||
| 2034 | 15.11 | 13.15 | -1.96 | 62 | -1.54 | -0.08 | 1.46 | ||
| 2035 | 15.10 | 13.16 | -1.94 | 50 | -1.64 | -0.09 | 1.55 | ||
| 2036 | 15.08 | 13.16 | -1.92 | 38 | -1.72 | -0.09 | 1.63 | ||
| 2037 | 15.06 | 13.16 | -1.90 | 25 | -1.80 | -0.10 | 1.70 | ||
| 2038 | 15.04 | 13.16 | -1.88 | 13 | -1.87 | -0.10 | 1.77 | ||
| 2039 | 15.01 | 13.16 | -1.85 | 1 | -1.94 | -0.11 | 1.84 | ||
| 2040 | 14.98 | 13.16 | -1.82 | ---- | -2.00 | -0.11 | 1.89 | ||
| 2041 | 14.96 | 13.16 | -1.80 | ---- | -2.06 | -0.11 | 1.95 | ||
| 2042 | 14.93 | 13.16 | -1.77 | ---- | -2.11 | -0.11 | 1.99 | ||
| 2043 | 14.89 | 13.16 | -1.73 | ---- | -2.15 | -0.12 | 2.03 | ||
| 2044 | 14.86 | 13.16 | -1.70 | ---- | -2.19 | -0.12 | 2.07 | ||
| 2045 | 14.83 | 13.16 | -1.67 | ---- | -2.22 | -0.12 | 2.10 | ||
| 2046 | 14.81 | 13.16 | -1.65 | ---- | -2.25 | -0.12 | 2.12 | ||
| 2047 | 14.81 | 13.16 | -1.65 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2048 | 14.81 | 13.16 | -1.65 | ---- | -2.29 | -0.13 | 2.16 | ||
| 2049 | 14.81 | 13.16 | -1.65 | ---- | -2.31 | -0.13 | 2.18 | ||
| 2050 | 14.82 | 13.16 | -1.65 | ---- | -2.32 | -0.13 | 2.19 | ||
| 2051 | 14.83 | 13.16 | -1.66 | ---- | -2.33 | -0.13 | 2.20 | ||
| 2052 | 14.85 | 13.17 | -1.68 | ---- | -2.34 | -0.13 | 2.21 | ||
| 2053 | 14.87 | 13.17 | -1.70 | ---- | -2.35 | -0.13 | 2.22 | ||
| 2054 | 14.89 | 13.17 | -1.72 | ---- | -2.36 | -0.13 | 2.23 | ||
| 2055 | 14.93 | 13.17 | -1.75 | ---- | -2.37 | -0.13 | 2.23 | ||
| 2056 | 14.96 | 13.18 | -1.79 | ---- | -2.37 | -0.13 | 2.24 | ||
| 2057 | 15.00 | 13.18 | -1.82 | ---- | -2.38 | -0.13 | 2.25 | ||
| 2058 | 15.05 | 13.18 | -1.86 | ---- | -2.39 | -0.13 | 2.25 | ||
| 2059 | 15.09 | 13.19 | -1.90 | ---- | -2.40 | -0.13 | 2.26 | ||
| 2060 | 15.14 | 13.19 | -1.95 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2061 | 15.18 | 13.20 | -1.99 | ---- | -2.42 | -0.14 | 2.28 | ||
| 2062 | 15.22 | 13.20 | -2.02 | ---- | -2.43 | -0.14 | 2.29 | ||
| 2063 | 15.26 | 13.20 | -2.06 | ---- | -2.44 | -0.14 | 2.30 | ||
| 2064 | 15.30 | 13.21 | -2.09 | ---- | -2.45 | -0.14 | 2.32 | ||
| 2065 | 15.33 | 13.21 | -2.12 | ---- | -2.47 | -0.14 | 2.33 | ||
| 2066 | 15.37 | 13.21 | -2.16 | ---- | -2.48 | -0.14 | 2.34 | ||
| 2067 | 15.41 | 13.22 | -2.19 | ---- | -2.50 | -0.14 | 2.35 | ||
| 2068 | 15.45 | 13.22 | -2.23 | ---- | -2.51 | -0.14 | 2.37 | ||
| 2069 | 15.49 | 13.22 | -2.26 | ---- | -2.53 | -0.14 | 2.38 | ||
| 2070 | 15.53 | 13.23 | -2.30 | ---- | -2.54 | -0.14 | 2.40 | ||
| 2071 | 15.57 | 13.23 | -2.34 | ---- | -2.55 | -0.15 | 2.41 | ||
| 2072 | 15.61 | 13.23 | -2.37 | ---- | -2.57 | -0.15 | 2.42 | ||
| 2073 | 15.64 | 13.23 | -2.41 | ---- | -2.58 | -0.15 | 2.43 | ||
| 2074 | 15.68 | 13.24 | -2.44 | ---- | -2.59 | -0.15 | 2.45 | ||
| 2075 | 15.71 | 13.24 | -2.47 | ---- | -2.61 | -0.15 | 2.46 | ||
| 2076 | 15.73 | 13.24 | -2.49 | ---- | -2.62 | -0.15 | 2.47 | ||
| 2077 | 15.74 | 13.24 | -2.50 | ---- | -2.63 | -0.15 | 2.48 | ||
| 2078 | 15.74 | 13.24 | -2.49 | ---- | -2.64 | -0.15 | 2.49 | ||
| 2079 | 15.72 | 13.24 | -2.48 | ---- | -2.65 | -0.15 | 2.49 | ||
| 2080 | 15.70 | 13.24 | -2.46 | ---- | -2.65 | -0.15 | 2.50 | ||
| 2081 | 15.67 | 13.24 | -2.43 | ---- | -2.65 | -0.15 | 2.50 | ||
| 2082 | 15.64 | 13.24 | -2.40 | ---- | -2.66 | -0.15 | 2.50 | ||
| 2083 | 15.59 | 13.24 | -2.35 | ---- | -2.66 | -0.15 | 2.51 | ||
| 2084 | 15.54 | 13.23 | -2.30 | ---- | -2.66 | -0.15 | 2.51 | ||
| 2085 | 15.48 | 13.23 | -2.25 | ---- | -2.66 | -0.15 | 2.51 | ||
| 2086 | 15.42 | 13.23 | -2.19 | ---- | -2.66 | -0.15 | 2.50 | ||
| 2087 | 15.36 | 13.22 | -2.13 | ---- | -2.65 | -0.15 | 2.50 | ||
| 2088 | 15.29 | 13.22 | -2.07 | ---- | -2.65 | -0.15 | 2.50 | ||
| 2089 | 15.23 | 13.22 | -2.01 | ---- | -2.64 | -0.15 | 2.49 | ||
| 2090 | 15.18 | 13.21 | -1.96 | ---- | -2.64 | -0.15 | 2.49 | ||
| 2091 | 15.14 | 13.21 | -1.93 | ---- | -2.63 | -0.15 | 2.48 | ||
| 2092 | 15.11 | 13.21 | -1.90 | ---- | -2.63 | -0.15 | 2.47 | ||
| 2093 | 15.09 | 13.21 | -1.88 | ---- | -2.62 | -0.15 | 2.47 | ||
| 2094 | 15.09 | 13.21 | -1.88 | ---- | -2.62 | -0.15 | 2.47 | ||
| 2095 | 15.09 | 13.21 | -1.88 | ---- | -2.62 | -0.15 | 2.47 | ||
| 2096 | 15.09 | 13.21 | -1.88 | ---- | -2.61 | -0.15 | 2.46 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 15.25% | 13.66% | -1.59% | 2039 | -2.06% | -0.11% | 1.95% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
|||||||||
Based on Intermediate Assumptions of the 2021 Trustees Report.