Detailed Single Year Tables
Description of Proposed Provision:
F1: Starting in 2022, cover newly hired State and local government employees.
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 | 12.95 | -1.35 | 231 | 0.00 | 0.03 | 0.03 | ||
| 2023 | 14.43 | 12.97 | -1.46 | 214 | -0.00 | 0.06 | 0.06 | ||
| 2024 | 14.64 | 13.03 | -1.60 | 196 | 0.00 | 0.09 | 0.09 | ||
| 2025 | 14.86 | 13.07 | -1.78 | 179 | 0.00 | 0.12 | 0.12 | ||
| 2026 | 15.10 | 13.22 | -1.89 | 161 | 0.00 | 0.14 | 0.14 | ||
| 2027 | 15.36 | 13.26 | -2.10 | 144 | 0.00 | 0.16 | 0.16 | ||
| 2028 | 15.63 | 13.32 | -2.31 | 126 | 0.00 | 0.18 | 0.18 | ||
| 2029 | 15.87 | 13.37 | -2.51 | 108 | 0.00 | 0.20 | 0.19 | ||
| 2030 | 16.11 | 13.41 | -2.71 | 90 | 0.00 | 0.21 | 0.21 | ||
| 2031 | 16.29 | 13.44 | -2.86 | 72 | 0.01 | 0.23 | 0.22 | ||
| 2032 | 16.44 | 13.46 | -2.98 | 54 | 0.01 | 0.24 | 0.24 | ||
| 2033 | 16.57 | 13.49 | -3.08 | 36 | 0.01 | 0.26 | 0.25 | ||
| 2034 | 16.67 | 13.51 | -3.16 | 18 | 0.01 | 0.27 | 0.26 | ||
| 2035 | 16.75 | 13.53 | -3.22 | ---- | 0.01 | 0.28 | 0.27 | ||
| 2036 | 16.82 | 13.55 | -3.27 | ---- | 0.02 | 0.30 | 0.28 | ||
| 2037 | 16.88 | 13.57 | -3.32 | ---- | 0.02 | 0.31 | 0.29 | ||
| 2038 | 16.94 | 13.58 | -3.36 | ---- | 0.02 | 0.32 | 0.30 | ||
| 2039 | 16.98 | 13.60 | -3.38 | ---- | 0.03 | 0.33 | 0.30 | ||
| 2040 | 17.01 | 13.61 | -3.40 | ---- | 0.03 | 0.34 | 0.31 | ||
| 2041 | 17.05 | 13.63 | -3.42 | ---- | 0.03 | 0.35 | 0.32 | ||
| 2042 | 17.08 | 13.64 | -3.44 | ---- | 0.04 | 0.36 | 0.33 | ||
| 2043 | 17.09 | 13.65 | -3.43 | ---- | 0.05 | 0.37 | 0.33 | ||
| 2044 | 17.10 | 13.66 | -3.43 | ---- | 0.05 | 0.38 | 0.33 | ||
| 2045 | 17.10 | 13.67 | -3.43 | ---- | 0.06 | 0.40 | 0.34 | ||
| 2046 | 17.12 | 13.69 | -3.43 | ---- | 0.06 | 0.41 | 0.34 | ||
| 2047 | 17.15 | 13.70 | -3.45 | ---- | 0.07 | 0.42 | 0.35 | ||
| 2048 | 17.18 | 13.71 | -3.47 | ---- | 0.08 | 0.43 | 0.35 | ||
| 2049 | 17.21 | 13.72 | -3.48 | ---- | 0.09 | 0.44 | 0.35 | ||
| 2050 | 17.24 | 13.74 | -3.50 | ---- | 0.10 | 0.45 | 0.35 | ||
| 2051 | 17.27 | 13.75 | -3.52 | ---- | 0.11 | 0.46 | 0.35 | ||
| 2052 | 17.31 | 13.77 | -3.53 | ---- | 0.12 | 0.48 | 0.36 | ||
| 2053 | 17.35 | 13.78 | -3.58 | ---- | 0.13 | 0.48 | 0.34 | ||
| 2054 | 17.40 | 13.78 | -3.62 | ---- | 0.15 | 0.48 | 0.33 | ||
| 2055 | 17.45 | 13.79 | -3.67 | ---- | 0.16 | 0.48 | 0.32 | ||
| 2056 | 17.51 | 13.79 | -3.72 | ---- | 0.17 | 0.48 | 0.31 | ||
| 2057 | 17.58 | 13.80 | -3.78 | ---- | 0.19 | 0.48 | 0.29 | ||
| 2058 | 17.65 | 13.80 | -3.84 | ---- | 0.21 | 0.48 | 0.27 | ||
| 2059 | 17.72 | 13.81 | -3.91 | ---- | 0.23 | 0.49 | 0.26 | ||
| 2060 | 17.79 | 13.81 | -3.98 | ---- | 0.24 | 0.49 | 0.24 | ||
| 2061 | 17.86 | 13.82 | -4.04 | ---- | 0.26 | 0.49 | 0.23 | ||
| 2062 | 17.93 | 13.83 | -4.11 | ---- | 0.28 | 0.49 | 0.21 | ||
| 2063 | 18.01 | 13.83 | -4.17 | ---- | 0.30 | 0.49 | 0.19 | ||
| 2064 | 18.07 | 13.84 | -4.24 | ---- | 0.32 | 0.49 | 0.17 | ||
| 2065 | 18.14 | 13.84 | -4.30 | ---- | 0.34 | 0.49 | 0.15 | ||
| 2066 | 18.21 | 13.85 | -4.37 | ---- | 0.36 | 0.49 | 0.13 | ||
| 2067 | 18.29 | 13.85 | -4.43 | ---- | 0.38 | 0.49 | 0.11 | ||
| 2068 | 18.36 | 13.86 | -4.50 | ---- | 0.40 | 0.50 | 0.09 | ||
| 2069 | 18.43 | 13.86 | -4.57 | ---- | 0.42 | 0.50 | 0.08 | ||
| 2070 | 18.51 | 13.87 | -4.64 | ---- | 0.44 | 0.50 | 0.06 | ||
| 2071 | 18.58 | 13.87 | -4.71 | ---- | 0.46 | 0.50 | 0.04 | ||
| 2072 | 18.65 | 13.88 | -4.77 | ---- | 0.48 | 0.50 | 0.02 | ||
| 2073 | 18.72 | 13.88 | -4.84 | ---- | 0.49 | 0.50 | 0.01 | ||
| 2074 | 18.78 | 13.89 | -4.90 | ---- | 0.51 | 0.50 | -0.01 | ||
| 2075 | 18.84 | 13.89 | -4.95 | ---- | 0.53 | 0.50 | -0.02 | ||
| 2076 | 18.89 | 13.90 | -4.99 | ---- | 0.54 | 0.50 | -0.04 | ||
| 2077 | 18.93 | 13.90 | -5.03 | ---- | 0.56 | 0.50 | -0.05 | ||
| 2078 | 18.95 | 13.90 | -5.04 | ---- | 0.57 | 0.51 | -0.06 | ||
| 2079 | 18.95 | 13.90 | -5.05 | ---- | 0.58 | 0.51 | -0.07 | ||
| 2080 | 18.94 | 13.90 | -5.04 | ---- | 0.59 | 0.51 | -0.08 | ||
| 2081 | 18.93 | 13.90 | -5.03 | ---- | 0.60 | 0.51 | -0.09 | ||
| 2082 | 18.91 | 13.90 | -5.01 | ---- | 0.61 | 0.51 | -0.11 | ||
| 2083 | 18.87 | 13.90 | -4.97 | ---- | 0.62 | 0.51 | -0.11 | ||
| 2084 | 18.82 | 13.90 | -4.93 | ---- | 0.63 | 0.51 | -0.12 | ||
| 2085 | 18.77 | 13.89 | -4.88 | ---- | 0.63 | 0.51 | -0.12 | ||
| 2086 | 18.71 | 13.89 | -4.82 | ---- | 0.64 | 0.51 | -0.13 | ||
| 2087 | 18.65 | 13.89 | -4.77 | ---- | 0.64 | 0.51 | -0.14 | ||
| 2088 | 18.58 | 13.88 | -4.70 | ---- | 0.65 | 0.51 | -0.14 | ||
| 2089 | 18.52 | 13.88 | -4.64 | ---- | 0.65 | 0.51 | -0.14 | ||
| 2090 | 18.47 | 13.87 | -4.59 | ---- | 0.65 | 0.51 | -0.14 | ||
| 2091 | 18.42 | 13.87 | -4.55 | ---- | 0.65 | 0.51 | -0.15 | ||
| 2092 | 18.39 | 13.87 | -4.52 | ---- | 0.66 | 0.51 | -0.15 | ||
| 2093 | 18.38 | 13.87 | -4.51 | ---- | 0.66 | 0.51 | -0.15 | ||
| 2094 | 18.37 | 13.87 | -4.50 | ---- | 0.66 | 0.51 | -0.15 | ||
| 2095 | 18.37 | 13.87 | -4.50 | ---- | 0.67 | 0.51 | -0.16 | ||
| 2096 | 18.37 | 13.87 | -4.50 | ---- | 0.67 | 0.51 | -0.16 | ||
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 | 17.56% | 14.17% | -3.40% | 2034 | 0.25% | 0.39% | 0.14% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.