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Detailed Single Year Tables

Description of Proposed Provision:
E3.19: Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2019-2024). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 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
201913.7013.17-0.53
273
0.000.220.22
202013.8513.39-0.46
260
0.000.430.43
202114.0213.60-0.41
249
0.000.610.61
202214.2513.78-0.47
239
0.000.760.76
202314.5413.94-0.60
228
0.000.890.90
202414.8214.10-0.72
218
0.001.021.02
202515.1014.13-0.97
207
0.001.021.03
202615.3714.16-1.21
196
0.001.021.02
202715.6114.17-1.44
184
0.001.021.02
202815.8514.19-1.66
172
0.001.021.02
202916.0614.20-1.86
160
0.001.021.02
203016.2614.22-2.04
148
0.001.021.03
203116.4514.23-2.21
135
0.001.021.03
203216.6014.24-2.36
123
0.001.021.03
203316.7414.25-2.49
109
0.001.021.03
203416.8514.26-2.59
95
0.001.021.03
203516.9314.27-2.66
81
0.001.031.03
203616.9914.27-2.71
66
0.001.031.03
203717.0214.28-2.74
51
0.001.031.03
203817.0214.28-2.74
36
0.001.031.03
203917.0014.28-2.72
20
0.001.031.03
204016.9614.28-2.68
5
0.001.031.03
204116.9114.28-2.64
----
0.001.031.03
204216.8614.27-2.59
----
0.001.031.03
204316.8014.27-2.53
----
0.001.031.03
204416.7614.27-2.49
----
0.001.031.03
204516.7214.27-2.45
----
0.001.031.03
204616.6814.27-2.41
----
0.001.031.03
204716.6414.27-2.38
----
0.001.031.03
204816.6114.27-2.35
----
0.001.031.03
204916.5914.26-2.32
----
0.001.031.03
205016.5614.26-2.30
----
0.001.031.04
205116.5514.26-2.29
----
0.001.031.04
205216.5514.27-2.29
----
0.001.031.04
205316.5714.27-2.30
----
0.001.031.04
205416.5914.27-2.32
----
0.001.031.04
205516.6214.27-2.34
----
0.001.031.04
205616.6514.28-2.38
----
0.001.041.04
205716.6914.28-2.41
----
0.001.041.04
205816.7414.28-2.45
----
0.001.041.04
205916.7814.29-2.49
----
0.001.041.04
206016.8214.29-2.53
----
0.001.041.04
206116.8714.29-2.58
----
0.001.041.04
206216.9214.30-2.62
----
0.001.041.04
206316.9714.30-2.66
----
0.001.041.04
206417.0114.31-2.71
----
0.001.041.05
206517.0614.31-2.75
----
-0.011.041.05
206617.1114.31-2.80
----
-0.011.041.05
206717.1614.32-2.85
----
-0.011.041.05
206817.2214.32-2.89
----
-0.011.041.05
206917.2714.33-2.94
----
-0.011.041.05
207017.3214.33-2.99
----
-0.011.041.05
207117.3714.33-3.03
----
-0.011.051.05
207217.4114.34-3.07
----
-0.011.051.05
207317.4414.34-3.10
----
-0.011.051.05
207417.4714.34-3.13
----
-0.011.051.05
207517.5014.35-3.15
----
-0.011.051.05
207617.5114.35-3.17
----
-0.011.051.05
207717.5214.35-3.17
----
-0.011.051.06
207817.5214.35-3.17
----
-0.011.051.06
207917.5114.35-3.16
----
-0.011.051.06
208017.5114.35-3.16
----
-0.011.051.06
208117.5014.35-3.15
----
-0.011.051.06
208217.5014.35-3.15
----
-0.011.051.06
208317.5114.35-3.16
----
-0.011.051.06
208417.5214.35-3.17
----
-0.011.061.06
208517.5514.36-3.19
----
0.001.061.06
208617.5814.36-3.22
----
0.001.061.06
208717.6114.36-3.25
----
0.001.061.06
208817.6514.36-3.29
----
0.001.061.06
208917.7014.37-3.33
----
0.001.061.06
209017.7414.37-3.37
----
0.001.061.06
209117.7914.37-3.42
----
0.001.061.06
209217.8414.38-3.46
----
0.001.061.06



 

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% 14.81% -1.85%
2040
-0.00% 0.97% 0.97%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017