Description of Proposed Provision:
A5: Starting December 2020, add 1 percentage point to the annual COLA for beneficiaries who have lived past a "specified age". The "specified age" is the sum of: (1) 65 and (2) the unisex cohort life expectancy at age 65.

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
201913.9112.85-1.06
273
0.000.000.00
202013.9412.87-1.07
260
0.000.000.00
202114.1012.90-1.20
245
0.010.00-0.01
202214.2512.92-1.33
229
0.020.00-0.02
202314.4312.94-1.49
213
0.040.00-0.03
202414.6312.97-1.66
196
0.050.00-0.04
202514.8412.99-1.85
179
0.050.00-0.05
202615.0513.12-1.94
162
0.060.00-0.06
202715.2613.14-2.12
145
0.070.00-0.06
202815.5013.18-2.33
128
0.070.00-0.07
202915.7013.19-2.51
111
0.080.00-0.07
203015.8813.21-2.68
94
0.080.00-0.08
203116.0513.22-2.83
77
0.080.00-0.08
203216.2013.23-2.96
59
0.090.00-0.08
203316.3213.24-3.08
42
0.090.01-0.09
203416.4213.25-3.17
23
0.090.01-0.09
203516.5013.26-3.24
5
0.100.01-0.09
203616.5613.26-3.30
----
0.100.01-0.10
203716.6213.27-3.35
----
0.110.01-0.10
203816.6713.27-3.40
----
0.110.01-0.10
203916.7213.28-3.44
----
0.110.01-0.11
204016.7313.28-3.45
----
0.120.01-0.11
204116.7313.28-3.45
----
0.120.01-0.11
204216.7213.28-3.43
----
0.130.01-0.12
204316.6813.28-3.40
----
0.130.01-0.12
204416.6513.28-3.37
----
0.130.01-0.12
204516.6113.28-3.33
----
0.130.01-0.12
204616.5813.28-3.30
----
0.130.01-0.12
204716.5513.28-3.27
----
0.130.01-0.12
204816.5313.28-3.25
----
0.130.01-0.12
204916.5113.28-3.23
----
0.130.01-0.12
205016.4913.28-3.22
----
0.130.01-0.12
205116.4913.28-3.21
----
0.130.01-0.12
205216.4913.28-3.21
----
0.130.01-0.12
205316.5013.28-3.22
----
0.130.01-0.12
205416.5113.28-3.23
----
0.130.01-0.12
205516.5413.29-3.25
----
0.130.01-0.12
205616.5713.29-3.28
----
0.130.01-0.12
205716.6113.29-3.32
----
0.130.01-0.12
205816.6513.30-3.36
----
0.130.01-0.12
205916.7013.30-3.40
----
0.130.01-0.12
206016.7513.30-3.45
----
0.120.01-0.12
206116.8013.31-3.49
----
0.120.01-0.11
206216.8513.31-3.54
----
0.120.01-0.11
206316.9013.32-3.59
----
0.120.01-0.11
206416.9613.32-3.63
----
0.110.01-0.11
206517.0113.32-3.68
----
0.110.01-0.10
206617.0613.33-3.74
----
0.110.01-0.10
206717.1213.33-3.79
----
0.110.01-0.10
206817.1813.34-3.85
----
0.110.01-0.10
206917.2413.34-3.90
----
0.110.01-0.10
207017.3013.34-3.96
----
0.110.01-0.10
207117.3613.35-4.01
----
0.110.01-0.10
207217.4113.35-4.06
----
0.110.01-0.10
207317.4613.36-4.10
----
0.110.01-0.11
207417.5113.36-4.15
----
0.110.01-0.11
207517.5513.36-4.18
----
0.120.01-0.11
207617.5813.37-4.21
----
0.120.01-0.11
207717.6013.37-4.23
----
0.120.01-0.11
207817.6013.37-4.24
----
0.120.01-0.11
207917.6013.37-4.23
----
0.120.01-0.12
208017.5913.37-4.22
----
0.120.01-0.12
208117.5713.37-4.20
----
0.120.01-0.11
208217.5413.37-4.18
----
0.120.01-0.11
208317.5213.36-4.16
----
0.120.01-0.11
208417.5013.36-4.13
----
0.120.01-0.11
208517.4713.36-4.11
----
0.120.01-0.11
208617.4513.36-4.09
----
0.120.01-0.11
208717.4413.36-4.08
----
0.120.01-0.11
208817.4413.36-4.08
----
0.120.01-0.11
208917.4513.36-4.09
----
0.120.01-0.11
209017.4713.36-4.11
----
0.120.01-0.11
209117.5013.36-4.14
----
0.120.01-0.11
209217.5413.37-4.18
----
0.120.01-0.11
209317.5913.37-4.22
----
0.120.01-0.11
209417.6413.37-4.27
----
0.120.01-0.11


Summarized Estimates

  Proposal   Change from Current Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
2019-2093 16.70% 13.82% -2.88%
2035
0.10% 0.01% -0.10%

1 Under current law, the year of Trust Fund reserve depletion is 2035.
Based on Intermediate Assumptions of the 2019 Trustees Report.