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Detailed Single Year Tables

Description of Proposed Provision:
Beginning with those newly eligible for OASI benefits in 2024, multiply the 90 and 32 percent PIA factors each year by 0.9925 and 0.982, respectively. Stop reductions after 2061. Beginning with those newly eligible for OASI benefits in 2019, multiply the 15 factor by 0.982. Stop reduction of the 15 factor after 2056. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status. Child beneficiaries and spouses with a child in care under the OASI program are not affected by this proposal.

 

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
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.09-1.93
183
0.000.000.00
202515.2813.11-2.17
166
-0.010.000.01
202615.4513.13-2.33
149
-0.020.000.01
202715.6213.14-2.48
132
-0.030.000.03
202815.7713.15-2.62
116
-0.040.000.04
202915.9013.17-2.74
99
-0.060.000.06
203016.0113.18-2.83
82
-0.09-0.010.09
203116.0913.18-2.91
66
-0.13-0.010.12
203216.1513.19-2.96
48
-0.17-0.010.16
203316.1813.19-2.99
31
-0.22-0.010.21
203416.1813.20-2.99
13
-0.28-0.020.26
203516.1513.20-2.96
----
-0.34-0.020.32
203616.1513.20-2.95
----
-0.41-0.020.39
203716.1113.20-2.91
----
-0.49-0.030.46
203816.0513.20-2.85
----
-0.56-0.030.53
203915.9613.20-2.77
----
-0.65-0.040.61
204015.8613.19-2.67
----
-0.73-0.040.69
204115.7413.19-2.55
----
-0.82-0.050.78
204215.6113.18-2.43
----
-0.92-0.050.87
204315.4813.17-2.31
----
-1.02-0.060.96
204415.3413.17-2.17
----
-1.13-0.061.06
204515.2113.16-2.05
----
-1.24-0.071.17
204615.0713.15-1.92
----
-1.35-0.081.27
204714.9313.15-1.78
----
-1.47-0.081.39
204814.7913.14-1.65
----
-1.59-0.091.50
204914.6513.13-1.52
----
-1.72-0.101.62
205014.5113.13-1.38
----
-1.85-0.101.74
205114.3813.12-1.26
----
-1.98-0.111.87
205214.2613.11-1.14
----
-2.12-0.122.00
205314.1413.11-1.03
----
-2.25-0.132.13
205414.0313.10-0.92
----
-2.40-0.142.26
205513.9213.10-0.82
----
-2.54-0.142.40
205613.8213.09-0.73
----
-2.69-0.152.53
205713.7213.09-0.63
----
-2.83-0.162.67
205813.6313.08-0.54
----
-2.98-0.172.81
205913.5313.08-0.45
----
-3.13-0.182.95
206013.4413.08-0.36
----
-3.27-0.193.08
206113.3513.07-0.28
----
-3.41-0.203.22
206213.2613.07-0.19
----
-3.55-0.203.35
206313.1713.06-0.11
----
-3.69-0.213.47
206413.0913.06-0.03
----
-3.82-0.223.60
206513.0113.050.05
----
-3.95-0.233.72
206612.9313.050.12
----
-4.08-0.233.84
206712.8613.050.19
----
-4.20-0.243.96
206812.7913.040.25
----
-4.32-0.254.07
206912.7413.040.30
----
-4.43-0.254.18
207012.6813.040.36
----
-4.54-0.264.28
207112.6313.030.41
----
-4.64-0.274.37
207212.5813.030.46
----
-4.73-0.274.46
207312.5213.030.50
----
-4.82-0.284.54
207412.4813.030.55
----
-4.89-0.284.61
207512.4313.020.60
----
-4.97-0.294.68
207612.3813.020.65
----
-5.03-0.294.74
207712.3313.020.69
----
-5.08-0.294.79
207812.2813.020.74
----
-5.13-0.304.83
207912.2313.010.78
----
-5.17-0.304.87
208012.1913.010.82
----
-5.21-0.304.91
208112.1613.010.85
----
-5.24-0.304.94
208212.1313.010.87
----
-5.27-0.304.97
208312.1113.010.89
----
-5.30-0.315.00
208412.1013.010.90
----
-5.34-0.315.03
208512.1013.010.90
----
-5.37-0.315.06
208612.1013.010.90
----
-5.40-0.315.09
208712.1113.010.89
----
-5.43-0.315.12
208812.1313.010.88
----
-5.46-0.325.14
208912.1413.010.87
----
-5.49-0.325.17
209012.1613.010.85
----
-5.52-0.325.20
209112.1813.010.83
----
-5.54-0.325.22



 

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 14.34% 13.72% -0.62%
2034
-2.16% -0.12% 2.04%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016