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Detailed Single Year Tables

Description of Proposed Provision:
E1.9: Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2021-2044, until the rate reaches 14.8 percent in 2044. Then increase the payroll tax rate an additional 0.1 percentage point in each year from 2083-2087, until the rate reaches 15.3 percent for 2087 and later.

 

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
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8512.96-0.89
259
0.000.000.00
202114.0213.08-0.93
245
0.000.090.09
202214.2613.21-1.05
231
0.000.190.19
202314.5413.33-1.21
217
0.000.280.28
202414.8313.46-1.36
203
0.000.380.38
202515.1013.58-1.52
188
0.000.470.47
202615.3713.70-1.67
174
0.000.570.57
202715.6213.81-1.80
160
0.000.660.66
202815.8513.92-1.93
146
0.000.760.76
202916.0614.03-2.03
133
0.000.850.85
203016.2614.14-2.12
120
0.000.950.95
203116.4414.25-2.20
107
0.001.041.04
203216.6014.35-2.25
94
0.001.141.14
203316.7414.46-2.28
81
0.001.231.24
203416.8414.56-2.28
68
0.001.331.33
203516.9214.66-2.26
55
-0.011.421.43
203616.9814.76-2.22
43
-0.011.511.52
203717.0114.86-2.16
30
-0.011.611.62
203817.0114.95-2.06
18
-0.011.701.71
203916.9915.05-1.94
7
-0.011.801.81
204016.9515.14-1.81
----
-0.011.891.90
204116.9015.23-1.67
----
-0.011.982.00
204216.8515.32-1.53
----
-0.012.082.09
204316.7915.41-1.38
----
-0.012.172.19
204416.7415.50-1.24
----
-0.012.272.28
204516.7015.51-1.20
----
-0.022.272.29
204616.6615.51-1.16
----
-0.022.272.29
204716.6315.51-1.12
----
-0.022.272.29
204816.6015.51-1.09
----
-0.022.272.29
204916.5715.50-1.06
----
-0.022.272.29
205016.5515.50-1.04
----
-0.022.272.29
205116.5315.50-1.03
----
-0.022.272.30
205216.5315.51-1.03
----
-0.032.272.30
205316.5415.51-1.03
----
-0.032.272.30
205416.5615.51-1.05
----
-0.032.272.30
205516.5915.51-1.08
----
-0.032.272.31
205616.6215.51-1.11
----
-0.032.272.31
205716.6615.52-1.14
----
-0.032.282.31
205816.7015.52-1.18
----
-0.042.282.31
205916.7515.53-1.22
----
-0.042.282.32
206016.7915.53-1.26
----
-0.042.282.32
206116.8315.53-1.30
----
-0.042.282.32
206216.8815.54-1.34
----
-0.052.282.32
206316.9215.54-1.38
----
-0.052.282.32
206416.9715.54-1.42
----
-0.052.282.33
206517.0115.55-1.47
----
-0.052.282.33
206617.0615.55-1.51
----
-0.052.282.33
206717.1115.55-1.56
----
-0.062.282.33
206817.1615.56-1.61
----
-0.062.282.34
206917.2215.56-1.65
----
-0.062.282.34
207017.2615.57-1.70
----
-0.062.282.34
207117.3115.57-1.74
----
-0.062.282.34
207217.3515.57-1.78
----
-0.072.282.35
207317.3815.58-1.81
----
-0.072.282.35
207417.4115.58-1.83
----
-0.072.282.35
207517.4315.58-1.85
----
-0.072.282.35
207617.4515.58-1.87
----
-0.072.282.36
207717.4515.58-1.87
----
-0.072.282.36
207817.4515.58-1.87
----
-0.072.292.36
207917.4415.58-1.86
----
-0.082.292.36
208017.4315.58-1.85
----
-0.082.292.36
208117.4315.58-1.84
----
-0.082.292.36
208217.4315.58-1.84
----
-0.082.292.37
208317.4315.68-1.76
----
-0.082.382.46
208417.4515.77-1.68
----
-0.082.472.55
208517.4715.87-1.60
----
-0.082.572.65
208617.5015.96-1.54
----
-0.082.662.74
208717.5316.06-1.47
----
-0.082.762.84
208817.5716.07-1.50
----
-0.082.762.85
208917.6216.07-1.54
----
-0.082.762.85
209017.6616.08-1.59
----
-0.082.772.85
209117.7116.08-1.63
----
-0.092.772.85
209217.7616.08-1.67
----
-0.092.772.85



 

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
 
Based on Intermediate Assumptions of the 2017 Trustees Report.
2017-2091 16.63% 15.57% -1.06%
2039
-0.03% 1.73% 1.76%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017