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Detailed Single Year Tables

Description of Proposed Provision:
E2.8: Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2020-2067, and a 3 percent rate for years 2068 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.

 

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
202013.8513.35-0.51
259
0.000.380.38
202114.0213.40-0.62
247
0.000.400.40
202214.2513.43-0.83
235
0.000.400.40
202314.5413.45-1.09
223
0.000.400.40
202414.8313.48-1.34
209
0.000.400.40
202515.1013.50-1.59
195
0.000.400.40
202615.3713.54-1.83
180
0.000.400.40
202715.6213.55-2.06
165
0.000.400.40
202815.8513.57-2.28
149
0.000.400.40
202916.0613.58-2.48
134
0.000.400.40
203016.2613.60-2.67
118
0.000.400.40
203116.4513.61-2.84
102
0.000.400.40
203216.6013.62-2.98
85
0.000.400.40
203316.7413.63-3.11
68
0.000.400.40
203416.8513.64-3.21
50
0.000.400.40
203516.9213.64-3.28
32
0.000.400.40
203616.9813.65-3.34
13
0.000.400.40
203717.0213.65-3.37
----
0.000.400.41
203817.0213.65-3.37
----
0.000.400.41
203916.9913.65-3.34
----
0.000.400.41
204016.9613.65-3.31
----
-0.010.400.41
204116.9113.65-3.26
----
-0.010.400.41
204216.8513.64-3.21
----
-0.010.400.41
204316.8013.64-3.16
----
-0.010.400.41
204416.7513.64-3.11
----
-0.010.400.41
204516.7113.64-3.07
----
-0.010.400.41
204616.6713.64-3.03
----
-0.010.400.41
204716.6413.64-3.00
----
-0.010.400.41
204816.6113.64-2.97
----
-0.010.400.41
204916.5813.63-2.95
----
-0.010.400.41
205016.5613.63-2.92
----
-0.010.400.41
205116.5513.63-2.91
----
-0.010.400.41
205216.5513.63-2.91
----
-0.010.400.41
205316.5613.64-2.92
----
-0.010.400.41
205416.5813.64-2.94
----
-0.010.400.41
205516.6113.64-2.97
----
-0.010.400.41
205616.6413.64-3.00
----
-0.010.400.41
205716.6813.65-3.04
----
-0.010.400.41
205816.7313.65-3.08
----
-0.010.400.42
205916.7713.65-3.12
----
-0.010.400.42
206016.8213.66-3.16
----
-0.010.400.42
206116.8613.66-3.20
----
-0.010.400.42
206216.9113.66-3.25
----
-0.010.400.42
206316.9613.67-3.29
----
-0.010.400.42
206417.0013.67-3.33
----
-0.010.400.42
206517.0513.67-3.38
----
-0.020.400.42
206617.1013.68-3.43
----
-0.020.400.42
206717.1513.68-3.47
----
-0.020.400.42
206817.2113.87-3.33
----
-0.020.590.61
206917.2613.88-3.37
----
-0.020.600.62
207017.3113.89-3.42
----
-0.020.600.62
207117.3613.89-3.46
----
-0.020.600.62
207217.4013.89-3.50
----
-0.020.600.62
207317.4313.90-3.53
----
-0.020.600.62
207417.4613.90-3.56
----
-0.020.600.62
207517.4913.90-3.58
----
-0.020.600.62
207617.5013.90-3.60
----
-0.020.600.62
207717.5113.90-3.60
----
-0.020.610.62
207817.5113.90-3.60
----
-0.020.610.62
207917.5013.90-3.60
----
-0.020.610.62
208017.4913.90-3.59
----
-0.020.610.62
208117.4913.90-3.58
----
-0.020.610.62
208217.4913.90-3.58
----
-0.020.610.63
208317.4913.90-3.59
----
-0.020.610.63
208417.5113.91-3.60
----
-0.020.610.63
208517.5313.91-3.62
----
-0.020.610.63
208617.5613.91-3.65
----
-0.020.610.63
208717.6013.91-3.69
----
-0.020.610.63
208817.6413.91-3.72
----
-0.020.610.63
208917.6813.92-3.76
----
-0.020.610.63
209017.7313.92-3.81
----
-0.020.610.63
209117.7813.92-3.85
----
-0.020.610.63
209217.8213.93-3.90
----
-0.020.610.63



 

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 16.66% 14.27% -2.38%
2036
-0.01% 0.43% 0.44%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017