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Detailed Single Year Tables

Description of Proposed Provision:
Eliminate the taxable maximum in years 2017 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7215.191.48
293
0.002.282.28
201813.8515.391.54
293
0.002.442.44
201913.9815.401.41
294
0.002.432.43
202014.1415.391.25
294
0.002.412.41
202114.2815.401.12
294
0.012.402.39
202214.5115.420.91
292
0.022.382.36
202314.7915.420.63
289
0.032.362.33
202415.0615.430.37
285
0.042.342.30
202515.3415.430.09
279
0.052.322.27
202615.5415.45-0.09
275
0.072.322.25
202715.7315.47-0.27
270
0.082.322.24
202815.9115.48-0.43
266
0.102.332.23
202916.0815.50-0.59
262
0.122.332.21
203016.2415.51-0.73
258
0.142.332.20
203116.3815.52-0.85
254
0.152.332.18
203216.5015.54-0.96
250
0.172.342.16
203316.6015.55-1.05
245
0.192.342.15
203416.6815.55-1.12
241
0.212.342.13
203516.7315.56-1.17
236
0.232.352.11
203616.8115.57-1.24
231
0.252.352.10
203716.8715.58-1.29
225
0.272.352.08
203816.9115.58-1.32
219
0.292.362.06
203916.9215.59-1.33
214
0.312.362.05
204016.9215.59-1.33
208
0.332.362.03
204116.9115.60-1.32
203
0.352.362.01
204216.9015.60-1.30
197
0.372.372.00
204316.8915.60-1.29
191
0.392.371.98
204416.8715.60-1.27
186
0.412.371.97
204516.8815.61-1.27
180
0.432.381.95
204616.8715.61-1.26
175
0.452.381.93
204716.8715.61-1.25
169
0.462.381.92
204816.8715.62-1.25
164
0.482.381.90
204916.8715.62-1.25
158
0.502.391.89
205016.8815.62-1.26
152
0.522.391.87
205116.9015.63-1.27
146
0.542.391.86
205216.9315.63-1.30
140
0.552.401.84
205316.9715.64-1.33
134
0.572.401.83
205417.0215.64-1.37
127
0.592.401.81
205517.0715.65-1.43
121
0.612.401.79
205617.1415.65-1.48
113
0.632.411.78
205717.2015.66-1.54
106
0.652.411.76
205817.2715.67-1.60
98
0.662.411.75
205917.3415.67-1.66
89
0.682.421.74
206017.4015.68-1.72
81
0.692.421.72
206117.4615.69-1.78
72
0.712.421.71
206217.5315.69-1.84
62
0.722.421.70
206317.5915.70-1.89
53
0.732.431.69
206417.6515.70-1.95
43
0.742.431.68
206517.7115.71-2.00
32
0.752.431.68
206617.7715.72-2.06
21
0.772.431.67
206717.8415.72-2.11
10
0.772.431.66
206817.9015.73-2.17
----
0.782.441.65
206917.9615.73-2.23
----
0.792.441.65
207018.0215.74-2.28
----
0.802.441.64
207118.0715.74-2.33
----
0.812.441.63
207218.1215.75-2.37
----
0.812.441.63
207318.1615.75-2.41
----
0.822.451.63
207418.2015.76-2.44
----
0.832.451.62
207518.2215.76-2.46
----
0.832.451.62
207618.2415.76-2.48
----
0.832.451.62
207718.2515.76-2.48
----
0.842.451.62
207818.2515.77-2.48
----
0.842.451.62
207918.2415.77-2.48
----
0.842.461.62
208018.2415.77-2.47
----
0.842.461.62
208118.2415.77-2.47
----
0.842.461.62
208218.2515.77-2.48
----
0.842.461.62
208318.2615.77-2.49
----
0.842.461.62
208418.2815.78-2.51
----
0.842.461.62
208518.3115.78-2.54
----
0.852.461.62
208618.3515.78-2.57
----
0.852.461.62
208718.3915.79-2.61
----
0.852.471.62
208818.4415.79-2.65
----
0.852.471.61
208918.4915.79-2.69
----
0.862.471.61
209018.5415.80-2.74
----
0.862.471.61
209118.5815.80-2.78
----
0.862.471.61



 

Summarized Estimates

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

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 16.96% 16.21% -0.76%
2067
0.46% 2.36% 1.90%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016