Table 3a--Trust Fund Asset Comparison and PRSA Information for the Representative Nick Smith Proposal
IA proceeds go to estate if worker dies before entitlement Ultimate Real Trust Fund Interest Rate 3.00 Ultimate Real PRSA Rate for Offset 3.70 Assumed PRSA Participation Rate 100%
Year
Present Law Trust Fund Assets, End of Year
Proposal Trust Fund Assets, End of Year
IA/Annuity Assets, End of Year
PRSA Contributions in Year
PRSA Disbursements in Year 1/
(In Billions of Present Value Dollars as of 1/1/2003)
2003
1,453
1,453
2004
1,529
1,528
0
0.0
0.0
2005
1,611
1,495
121
119.7
0.0
2006
1,695
1,471
243
119.4
0.1
2007
1,779
1,469
367
118.7
0.3
2008
1,861
1,485
491
117.9
0.6
2009
1,937
1,519
617
116.9
1.1
2010
2,007
1,570
742
115.8
1.6
2011
2,071
1,641
868
114.5
2.2
2012
2,128
1,735
994
113.1
3.0
2013
2,174
1,821
1,119
111.7
3.9
2014
2,211
1,792
1,244
110.3
4.8
2015
2,237
1,761
1,368
108.9
5.9
2016
2,251
1,725
1,492
107.4
7.1
2017
2,254
1,686
1,614
105.9
8.4
2018
2,245
1,644
1,736
104.4
9.8
2019
2,224
1,598
1,856
102.9
11.3
2020
2,191
1,548
1,974
101.4
12.9
2021
2,147
1,495
2,092
100.0
14.7
2022
2,092
1,439
2,207
98.5
16.5
2023
2,027
1,381
2,320
97.0
18.4
2024
1,954
1,321
2,432
95.6
20.5
2025
1,873
1,261
2,541
94.2
22.6
2026
1,785
1,193
2,656
100.9
24.8
2027
1,690
1,126
2,768
99.4
27.2
2028
1,589
1,060
2,877
98.0
29.6
2029
1,483
997
2,984
96.5
32.2
2030
1,372
935
3,088
95.1
34.8
2031
1,259
877
3,189
93.7
37.5
2032
1,144
824
3,286
92.4
40.4
2033
1,026
775
3,380
91.1
43.3
2034
908
731
3,471
89.7
46.3
2035
789
692
3,558
88.4
49.3
2036
671
659
3,641
87.1
52.5
2037
552
632
3,719
85.8
55.7
2038
435
611
3,794
84.5
58.9
2039
319
589
3,871
89.9
62.3
2040
204
568
3,949
93.8
65.7
2041
91
548
4,027
97.6
69.1
2042
--
530
4,105
101.2
72.7
2043
--
512
4,183
104.7
76.3
2044
--
496
4,261
108.0
79.9
2045
--
481
4,339
111.2
83.7
2046
--
468
4,416
114.2
87.3
2047
--
455
4,492
117.1
90.8
2048
--
443
4,568
119.9
94.2
2049
--
433
4,644
122.5
97.5
2050
--
423
4,719
125.0
100.7
2051
--
413
4,794
127.4
103.7
2052
--
405
4,869
129.7
106.7
2053
--
396
4,943
131.9
109.5
2054
--
388
5,017
133.9
112.2
2055
--
380
5,091
135.9
114.9
2056
--
372
5,164
137.8
117.4
2057
--
364
5,238
139.5
119.8
2058
--
356
5,311
141.2
122.1
2059
--
349
5,384
142.8
124.4
2060
--
341
5,457
144.3
126.5
2061
--
333
5,530
145.7
128.6
2062
--
326
5,603
147.1
130.6
2063
--
318
5,677
148.3
132.5
2064
--
310
5,750
149.4
134.4
2065
--
306
5,825
147.0
136.2
2066
--
304
5,897
144.6
138.0
2067
--
305
5,967
142.2
139.7
2068
--
309
6,033
139.9
141.3
2069
--
315
6,096
137.5
142.9
2070
--
324
6,156
135.3
144.4
2071
--
335
6,213
133.0
145.9
2072
--
347
6,268
130.8
147.3
2073
--
362
6,319
128.6
148.8
2074
--
378
6,368
126.4
150.2
2075
--
396
6,414
124.3
151.5
2076
--
416
6,456
122.2
152.9
2077
--
437
6,496
120.2
154.3
Based on Intermediate Assumptions of the 2003 Trustees Report. 1/ Excludes proceeds of PRSAs that go to the worker's estate if the worker dies before entitlement.
Office of the Chief Actuary Social Security Administration September 9, 2003