Detailed Single Year Tables
Description of Proposed Provision:
E3.11: Beginning in 2032, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $300,000 in 2017 (about $549,000 in 2032), with the threshold wage-indexed after 2032. Do not provide benefit credit for additional earnings taxed.
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 | 134 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.42 | 13.13 | -2.28 | 117 | 0.00 | 0.00 | 0.00 | ||
| 2029 | 15.47 | 13.16 | -2.31 | 101 | 0.00 | 0.00 | 0.00 | ||
| 2030 | 15.53 | 13.18 | -2.35 | 84 | 0.00 | 0.00 | 0.00 | ||
| 2031 | 15.58 | 13.20 | -2.37 | 68 | 0.00 | 0.00 | 0.00 | ||
| 2032 | 15.60 | 13.43 | -2.18 | 53 | 0.00 | 0.21 | 0.21 | ||
| 2033 | 15.66 | 13.48 | -2.18 | 39 | -0.00 | 0.21 | 0.21 | ||
| 2034 | 15.77 | 13.49 | -2.28 | 25 | -0.00 | 0.21 | 0.21 | ||
| 2035 | 15.88 | 13.50 | -2.38 | 11 | -0.00 | 0.21 | 0.21 | ||
| 2036 | 15.99 | 13.51 | -2.48 | — | -0.00 | 0.21 | 0.21 | ||
| 2037 | 16.09 | 13.52 | -2.57 | — | -0.00 | 0.21 | 0.21 | ||
| 2038 | 16.18 | 13.52 | -2.65 | — | -0.00 | 0.21 | 0.21 | ||
| 2039 | 16.25 | 13.53 | -2.72 | — | -0.00 | 0.21 | 0.22 | ||
| 2040 | 16.32 | 13.54 | -2.78 | — | -0.00 | 0.21 | 0.22 | ||
| 2041 | 16.38 | 13.54 | -2.84 | — | -0.00 | 0.21 | 0.22 | ||
| 2042 | 16.43 | 13.55 | -2.88 | — | -0.00 | 0.21 | 0.22 | ||
| 2043 | 16.48 | 13.55 | -2.93 | — | -0.00 | 0.21 | 0.22 | ||
| 2044 | 16.51 | 13.55 | -2.96 | — | -0.00 | 0.21 | 0.22 | ||
| 2045 | 16.55 | 13.56 | -2.99 | — | -0.00 | 0.21 | 0.22 | ||
| 2046 | 16.58 | 13.56 | -3.02 | — | -0.00 | 0.21 | 0.22 | ||
| 2047 | 16.62 | 13.56 | -3.05 | — | -0.01 | 0.21 | 0.22 | ||
| 2048 | 16.66 | 13.57 | -3.09 | — | -0.01 | 0.21 | 0.22 | ||
| 2049 | 16.70 | 13.57 | -3.13 | — | -0.01 | 0.21 | 0.22 | ||
| 2050 | 16.75 | 13.58 | -3.18 | — | -0.01 | 0.21 | 0.22 | ||
| 2051 | 16.80 | 13.58 | -3.22 | — | -0.01 | 0.21 | 0.22 | ||
| 2052 | 16.86 | 13.59 | -3.28 | — | -0.01 | 0.21 | 0.22 | ||
| 2053 | 16.93 | 13.59 | -3.33 | — | -0.01 | 0.21 | 0.22 | ||
| 2054 | 16.99 | 13.60 | -3.40 | — | -0.01 | 0.21 | 0.22 | ||
| 2055 | 17.07 | 13.60 | -3.47 | — | -0.01 | 0.21 | 0.22 | ||
| 2056 | 17.15 | 13.61 | -3.54 | — | -0.01 | 0.21 | 0.22 | ||
| 2057 | 17.24 | 13.62 | -3.62 | — | -0.01 | 0.21 | 0.22 | ||
| 2058 | 17.32 | 13.62 | -3.70 | — | -0.01 | 0.21 | 0.22 | ||
| 2059 | 17.41 | 13.63 | -3.78 | — | -0.01 | 0.21 | 0.22 | ||
| 2060 | 17.49 | 13.64 | -3.86 | — | -0.01 | 0.21 | 0.22 | ||
| 2061 | 17.57 | 13.64 | -3.93 | — | -0.01 | 0.21 | 0.22 | ||
| 2062 | 17.65 | 13.65 | -4.00 | — | -0.01 | 0.21 | 0.22 | ||
| 2063 | 17.71 | 13.66 | -4.06 | — | -0.01 | 0.21 | 0.22 | ||
| 2064 | 17.78 | 13.66 | -4.12 | — | -0.01 | 0.21 | 0.22 | ||
| 2065 | 17.84 | 13.67 | -4.18 | — | -0.01 | 0.21 | 0.22 | ||
| 2066 | 17.91 | 13.67 | -4.24 | — | -0.01 | 0.21 | 0.22 | ||
| 2067 | 17.97 | 13.68 | -4.29 | — | -0.01 | 0.21 | 0.22 | ||
| 2068 | 18.04 | 13.68 | -4.36 | — | -0.01 | 0.21 | 0.22 | ||
| 2069 | 18.11 | 13.69 | -4.42 | — | -0.01 | 0.21 | 0.22 | ||
| 2070 | 18.17 | 13.69 | -4.48 | — | -0.01 | 0.21 | 0.22 | ||
| 2071 | 18.24 | 13.70 | -4.54 | — | -0.01 | 0.21 | 0.22 | ||
| 2072 | 18.31 | 13.70 | -4.60 | — | -0.01 | 0.21 | 0.22 | ||
| 2073 | 18.37 | 13.71 | -4.66 | — | -0.01 | 0.21 | 0.22 | ||
| 2074 | 18.42 | 13.71 | -4.71 | — | -0.01 | 0.21 | 0.22 | ||
| 2075 | 18.48 | 13.72 | -4.76 | — | -0.01 | 0.21 | 0.22 | ||
| 2076 | 18.52 | 13.72 | -4.80 | — | -0.01 | 0.21 | 0.22 | ||
| 2077 | 18.55 | 13.72 | -4.83 | — | -0.01 | 0.21 | 0.22 | ||
| 2078 | 18.58 | 13.73 | -4.85 | — | -0.01 | 0.21 | 0.22 | ||
| 2079 | 18.59 | 13.73 | -4.86 | — | -0.01 | 0.21 | 0.22 | ||
| 2080 | 18.59 | 13.73 | -4.86 | — | -0.01 | 0.21 | 0.22 | ||
| 2081 | 18.58 | 13.73 | -4.85 | — | -0.01 | 0.21 | 0.22 | ||
| 2082 | 18.56 | 13.73 | -4.84 | — | -0.01 | 0.21 | 0.22 | ||
| 2083 | 18.54 | 13.73 | -4.81 | — | -0.01 | 0.21 | 0.22 | ||
| 2084 | 18.51 | 13.73 | -4.78 | — | -0.01 | 0.21 | 0.22 | ||
| 2085 | 18.46 | 13.72 | -4.74 | — | -0.01 | 0.21 | 0.22 | ||
| 2086 | 18.41 | 13.72 | -4.69 | — | -0.01 | 0.21 | 0.22 | ||
| 2087 | 18.36 | 13.72 | -4.64 | — | -0.01 | 0.21 | 0.22 | ||
| 2088 | 18.30 | 13.71 | -4.58 | — | -0.01 | 0.21 | 0.22 | ||
| 2089 | 18.24 | 13.71 | -4.53 | — | -0.01 | 0.21 | 0.22 | ||
| 2090 | 18.18 | 13.70 | -4.48 | — | -0.01 | 0.21 | 0.22 | ||
| 2091 | 18.14 | 13.70 | -4.43 | — | -0.01 | 0.21 | 0.22 | ||
| 2092 | 18.10 | 13.70 | -4.40 | — | -0.01 | 0.21 | 0.22 | ||
| 2093 | 18.07 | 13.70 | -4.38 | — | -0.01 | 0.21 | 0.22 | ||
| 2094 | 18.06 | 13.70 | -4.36 | — | -0.01 | 0.21 | 0.22 | ||
| 2095 | 18.06 | 13.70 | -4.36 | — | -0.01 | 0.21 | 0.22 | ||
| 2096 | 18.07 | 13.70 | -4.37 | — | -0.01 | 0.21 | 0.22 | ||
| 2097 | 18.09 | 13.70 | -4.39 | — | -0.01 | 0.21 | 0.22 | ||
| 2098 | 18.12 | 13.70 | -4.42 | — | -0.01 | 0.21 | 0.22 | ||
| 2099 | 18.15 | 13.70 | -4.45 | — | -0.01 | 0.21 | 0.22 | ||
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 | 17.29% | 13.99% | -3.31% | 2035 | -0.01% | 0.19% | 0.19% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2024 Trustees Report.