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Detailed Single Year Tables

Description of Proposed Provision:
E3.16: Beginning in 2019, apply 4 percent payroll tax rate on earnings above the wage-indexed equivalent of $400,000 in 2015 (about $457,200 in 2019), with the threshold wage-indexed after 2019. Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings taxed only between 2015 wage-indexed equivalents of $400,000 and $500,000, or about $457,200 and $571,500 in 2019 (with thresholds wage-indexed after 2019); and (2) a formula factor of 2 percent on this newly computed "AIME+".

 

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
201913.7013.23-0.46
273
0.000.290.29
202013.8513.27-0.59
261
-0.000.300.31
202114.0213.30-0.72
249
-0.000.310.31
202214.2513.33-0.93
236
-0.000.310.31
202314.5413.35-1.19
223
-0.000.300.31
202414.8313.39-1.44
209
-0.000.300.31
202515.1013.41-1.69
194
-0.000.300.31
202615.3713.44-1.93
178
-0.000.300.30
202715.6213.46-2.16
163
-0.000.300.31
202815.8513.47-2.38
146
-0.000.300.31
202916.0613.49-2.58
130
-0.000.300.31
203016.2613.50-2.76
114
-0.000.300.31
203116.4513.51-2.93
97
-0.000.300.31
203216.6013.52-3.08
80
-0.000.300.31
203316.7413.53-3.21
62
-0.000.310.31
203416.8513.54-3.31
44
-0.000.310.31
203516.9213.55-3.38
25
-0.000.310.31
203616.9913.55-3.44
5
-0.000.310.31
203717.0213.55-3.46
----
-0.000.310.31
203817.0213.55-3.46
----
-0.000.310.31
203916.9913.55-3.44
----
-0.000.310.31
204016.9613.55-3.40
----
-0.000.310.31
204116.9113.55-3.36
----
-0.000.310.31
204216.8613.55-3.31
----
-0.000.310.31
204316.8013.55-3.26
----
-0.000.310.31
204416.7513.55-3.21
----
-0.000.310.31
204516.7113.54-3.17
----
-0.000.310.31
204616.6713.54-3.13
----
-0.010.310.31
204716.6413.54-3.10
----
-0.010.310.31
204816.6113.54-3.07
----
-0.010.310.31
204916.5813.54-3.04
----
-0.010.310.31
205016.5613.54-3.02
----
-0.010.310.31
205116.5513.54-3.01
----
-0.010.310.31
205216.5513.54-3.01
----
-0.010.310.31
205316.5613.54-3.02
----
-0.010.310.31
205416.5813.54-3.04
----
-0.010.310.32
205516.6113.55-3.07
----
-0.010.310.32
205616.6513.55-3.10
----
-0.010.310.32
205716.6913.55-3.14
----
-0.010.310.32
205816.7313.55-3.18
----
-0.010.310.32
205916.7813.56-3.22
----
-0.010.310.32
206016.8213.56-3.26
----
-0.010.310.32
206116.8713.56-3.30
----
-0.010.310.32
206216.9113.57-3.34
----
-0.010.310.32
206316.9613.57-3.39
----
-0.010.310.32
206417.0113.57-3.43
----
-0.010.310.32
206517.0613.58-3.48
----
-0.010.310.32
206617.1113.58-3.53
----
-0.010.310.32
206717.1613.58-3.57
----
-0.010.310.32
206817.2113.59-3.62
----
-0.010.310.32
206917.2613.59-3.67
----
-0.010.310.32
207017.3213.60-3.72
----
-0.010.310.32
207117.3613.60-3.76
----
-0.010.310.32
207217.4013.60-3.80
----
-0.010.310.32
207317.4413.60-3.83
----
-0.010.310.32
207417.4713.61-3.86
----
-0.010.310.32
207517.4913.61-3.88
----
-0.010.310.32
207617.5113.61-3.90
----
-0.010.310.32
207717.5113.61-3.90
----
-0.010.310.32
207817.5113.61-3.90
----
-0.010.310.32
207917.5113.61-3.89
----
-0.010.310.32
208017.5013.61-3.89
----
-0.010.310.32
208117.4913.61-3.88
----
-0.010.310.32
208217.4913.61-3.88
----
-0.010.310.32
208317.5013.61-3.89
----
-0.010.310.33
208417.5213.61-3.90
----
-0.010.310.33
208517.5413.61-3.93
----
-0.010.310.33
208617.5713.62-3.95
----
-0.010.310.33
208717.6113.62-3.99
----
-0.010.310.33
208817.6513.62-4.02
----
-0.010.310.33
208917.6913.62-4.07
----
-0.010.320.33
209017.7413.63-4.11
----
-0.010.320.33
209117.7813.63-4.15
----
-0.010.320.33
209217.8313.63-4.20
----
-0.010.320.33



 

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% 14.14% -2.52%
2036
-0.01% 0.30% 0.30%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017