Detailed Single Year Tables
Description of Proposed Provision:
B4.2: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 40, phased in over the years 2025-2033.
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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | -0.00 | -0.00 | 0.00 | ||
| 2026 | 15.20 | 13.07 | -2.13 | 152 | -0.00 | -0.00 | 0.00 | ||
| 2027 | 15.36 | 13.11 | -2.25 | 135 | -0.00 | -0.00 | 0.00 | ||
| 2028 | 15.41 | 13.13 | -2.28 | 117 | -0.01 | -0.00 | 0.01 | ||
| 2029 | 15.45 | 13.16 | -2.29 | 101 | -0.01 | -0.00 | 0.01 | ||
| 2030 | 15.50 | 13.18 | -2.33 | 85 | -0.02 | -0.00 | 0.02 | ||
| 2031 | 15.54 | 13.20 | -2.34 | 69 | -0.04 | -0.00 | 0.03 | ||
| 2032 | 15.55 | 13.22 | -2.34 | 53 | -0.05 | -0.00 | 0.05 | ||
| 2033 | 15.59 | 13.26 | -2.33 | 38 | -0.07 | -0.00 | 0.06 | ||
| 2034 | 15.68 | 13.27 | -2.41 | 24 | -0.09 | -0.01 | 0.08 | ||
| 2035 | 15.77 | 13.28 | -2.49 | 9 | -0.11 | -0.01 | 0.11 | ||
| 2036 | 15.85 | 13.29 | -2.56 | — | -0.14 | -0.01 | 0.13 | ||
| 2037 | 15.93 | 13.29 | -2.63 | — | -0.17 | -0.01 | 0.16 | ||
| 2038 | 15.98 | 13.30 | -2.68 | — | -0.19 | -0.01 | 0.18 | ||
| 2039 | 16.03 | 13.30 | -2.72 | — | -0.22 | -0.01 | 0.21 | ||
| 2040 | 16.07 | 13.31 | -2.76 | — | -0.25 | -0.02 | 0.23 | ||
| 2041 | 16.11 | 13.31 | -2.79 | — | -0.28 | -0.02 | 0.26 | ||
| 2042 | 16.13 | 13.31 | -2.81 | — | -0.31 | -0.02 | 0.29 | ||
| 2043 | 16.15 | 13.32 | -2.83 | — | -0.33 | -0.02 | 0.31 | ||
| 2044 | 16.16 | 13.32 | -2.84 | — | -0.36 | -0.02 | 0.33 | ||
| 2045 | 16.17 | 13.32 | -2.85 | — | -0.38 | -0.02 | 0.36 | ||
| 2046 | 16.18 | 13.32 | -2.86 | — | -0.41 | -0.03 | 0.38 | ||
| 2047 | 16.19 | 13.32 | -2.87 | — | -0.43 | -0.03 | 0.40 | ||
| 2048 | 16.21 | 13.33 | -2.88 | — | -0.45 | -0.03 | 0.43 | ||
| 2049 | 16.23 | 13.33 | -2.90 | — | -0.48 | -0.03 | 0.45 | ||
| 2050 | 16.26 | 13.33 | -2.93 | — | -0.50 | -0.03 | 0.47 | ||
| 2051 | 16.29 | 13.34 | -2.95 | — | -0.52 | -0.03 | 0.49 | ||
| 2052 | 16.33 | 13.34 | -2.99 | — | -0.54 | -0.03 | 0.51 | ||
| 2053 | 16.37 | 13.34 | -3.03 | — | -0.56 | -0.04 | 0.53 | ||
| 2054 | 16.42 | 13.35 | -3.07 | — | -0.58 | -0.04 | 0.54 | ||
| 2055 | 16.48 | 13.35 | -3.13 | — | -0.60 | -0.04 | 0.56 | ||
| 2056 | 16.54 | 13.36 | -3.19 | — | -0.61 | -0.04 | 0.57 | ||
| 2057 | 16.61 | 13.36 | -3.25 | — | -0.63 | -0.04 | 0.59 | ||
| 2058 | 16.69 | 13.37 | -3.32 | — | -0.64 | -0.04 | 0.60 | ||
| 2059 | 16.76 | 13.38 | -3.39 | — | -0.66 | -0.04 | 0.61 | ||
| 2060 | 16.84 | 13.38 | -3.45 | — | -0.67 | -0.04 | 0.62 | ||
| 2061 | 16.91 | 13.39 | -3.52 | — | -0.68 | -0.04 | 0.63 | ||
| 2062 | 16.97 | 13.39 | -3.58 | — | -0.68 | -0.04 | 0.64 | ||
| 2063 | 17.03 | 13.40 | -3.64 | — | -0.69 | -0.04 | 0.65 | ||
| 2064 | 17.09 | 13.40 | -3.69 | — | -0.70 | -0.04 | 0.65 | ||
| 2065 | 17.15 | 13.41 | -3.75 | — | -0.70 | -0.05 | 0.65 | ||
| 2066 | 17.21 | 13.41 | -3.80 | — | -0.70 | -0.05 | 0.66 | ||
| 2067 | 17.27 | 13.42 | -3.85 | — | -0.71 | -0.05 | 0.66 | ||
| 2068 | 17.34 | 13.42 | -3.91 | — | -0.71 | -0.05 | 0.67 | ||
| 2069 | 17.40 | 13.43 | -3.97 | — | -0.72 | -0.05 | 0.67 | ||
| 2070 | 17.47 | 13.43 | -4.03 | — | -0.72 | -0.05 | 0.67 | ||
| 2071 | 17.53 | 13.44 | -4.09 | — | -0.72 | -0.05 | 0.68 | ||
| 2072 | 17.59 | 13.44 | -4.15 | — | -0.73 | -0.05 | 0.68 | ||
| 2073 | 17.65 | 13.45 | -4.20 | — | -0.73 | -0.05 | 0.68 | ||
| 2074 | 17.70 | 13.45 | -4.25 | — | -0.73 | -0.05 | 0.68 | ||
| 2075 | 17.75 | 13.46 | -4.29 | — | -0.73 | -0.05 | 0.69 | ||
| 2076 | 17.79 | 13.46 | -4.33 | — | -0.73 | -0.05 | 0.69 | ||
| 2077 | 17.82 | 13.46 | -4.36 | — | -0.74 | -0.05 | 0.69 | ||
| 2078 | 17.85 | 13.46 | -4.38 | — | -0.74 | -0.05 | 0.69 | ||
| 2079 | 17.86 | 13.47 | -4.39 | — | -0.74 | -0.05 | 0.69 | ||
| 2080 | 17.86 | 13.47 | -4.39 | — | -0.74 | -0.05 | 0.69 | ||
| 2081 | 17.85 | 13.47 | -4.38 | — | -0.74 | -0.05 | 0.69 | ||
| 2082 | 17.84 | 13.47 | -4.37 | — | -0.74 | -0.05 | 0.69 | ||
| 2083 | 17.81 | 13.47 | -4.35 | — | -0.74 | -0.05 | 0.69 | ||
| 2084 | 17.78 | 13.46 | -4.32 | — | -0.73 | -0.05 | 0.69 | ||
| 2085 | 17.74 | 13.46 | -4.28 | — | -0.73 | -0.05 | 0.68 | ||
| 2086 | 17.69 | 13.46 | -4.23 | — | -0.73 | -0.05 | 0.68 | ||
| 2087 | 17.64 | 13.46 | -4.18 | — | -0.73 | -0.05 | 0.68 | ||
| 2088 | 17.58 | 13.45 | -4.13 | — | -0.72 | -0.05 | 0.67 | ||
| 2089 | 17.53 | 13.45 | -4.08 | — | -0.72 | -0.05 | 0.67 | ||
| 2090 | 17.47 | 13.44 | -4.03 | — | -0.72 | -0.05 | 0.67 | ||
| 2091 | 17.43 | 13.44 | -3.99 | — | -0.71 | -0.05 | 0.67 | ||
| 2092 | 17.39 | 13.44 | -3.95 | — | -0.71 | -0.05 | 0.66 | ||
| 2093 | 17.37 | 13.44 | -3.93 | — | -0.71 | -0.05 | 0.66 | ||
| 2094 | 17.36 | 13.44 | -3.92 | — | -0.71 | -0.05 | 0.66 | ||
| 2095 | 17.36 | 13.44 | -3.92 | — | -0.71 | -0.05 | 0.66 | ||
| 2096 | 17.37 | 13.44 | -3.93 | — | -0.71 | -0.05 | 0.66 | ||
| 2097 | 17.39 | 13.44 | -3.95 | — | -0.71 | -0.05 | 0.66 | ||
| 2098 | 17.41 | 13.44 | -3.97 | — | -0.71 | -0.05 | 0.66 | ||
| 2099 | 17.45 | 13.44 | -4.00 | — | -0.71 | -0.05 | 0.66 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 16.81% | 13.77% | -3.04% | 2035 | -0.49% | -0.03% | 0.45% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2024 Trustees Report.