Detailed Single Year Tables
Description of Proposed Provision:
B7.2: Reduce benefits by 5 percent for those newly eligible for benefits in 2023 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 |
|||
| 2022 | 14.05 | 12.79 | -1.26 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.30 | 13.04 | -1.27 | 211 | -0.00 | -0.00 | 0.00 | ||
| 2024 | 14.43 | 12.95 | -1.48 | 195 | -0.02 | -0.00 | 0.02 | ||
| 2025 | 14.62 | 12.97 | -1.66 | 178 | -0.03 | -0.00 | 0.03 | ||
| 2026 | 14.83 | 13.08 | -1.75 | 161 | -0.05 | -0.00 | 0.05 | ||
| 2027 | 15.03 | 13.10 | -1.93 | 144 | -0.08 | -0.00 | 0.07 | ||
| 2028 | 15.22 | 13.14 | -2.08 | 128 | -0.11 | -0.00 | 0.10 | ||
| 2029 | 15.39 | 13.17 | -2.22 | 111 | -0.14 | -0.01 | 0.14 | ||
| 2030 | 15.54 | 13.19 | -2.35 | 95 | -0.18 | -0.01 | 0.17 | ||
| 2031 | 15.69 | 13.22 | -2.47 | 79 | -0.22 | -0.01 | 0.21 | ||
| 2032 | 15.81 | 13.23 | -2.58 | 63 | -0.26 | -0.01 | 0.25 | ||
| 2033 | 15.91 | 13.24 | -2.67 | 46 | -0.30 | -0.01 | 0.28 | ||
| 2034 | 15.99 | 13.25 | -2.74 | 30 | -0.34 | -0.02 | 0.32 | ||
| 2035 | 16.05 | 13.25 | -2.79 | 13 | -0.37 | -0.02 | 0.35 | ||
| 2036 | 16.09 | 13.26 | -2.83 | ---- | -0.41 | -0.02 | 0.39 | ||
| 2037 | 16.14 | 13.26 | -2.87 | ---- | -0.44 | -0.02 | 0.42 | ||
| 2038 | 16.17 | 13.27 | -2.90 | ---- | -0.47 | -0.03 | 0.45 | ||
| 2039 | 16.18 | 13.27 | -2.91 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2040 | 16.18 | 13.27 | -2.91 | ---- | -0.53 | -0.03 | 0.51 | ||
| 2041 | 16.18 | 13.27 | -2.91 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2042 | 16.18 | 13.27 | -2.91 | ---- | -0.59 | -0.03 | 0.56 | ||
| 2043 | 16.17 | 13.27 | -2.90 | ---- | -0.61 | -0.03 | 0.58 | ||
| 2044 | 16.17 | 13.27 | -2.89 | ---- | -0.64 | -0.03 | 0.60 | ||
| 2045 | 16.16 | 13.27 | -2.89 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2046 | 16.16 | 13.27 | -2.88 | ---- | -0.68 | -0.04 | 0.65 | ||
| 2047 | 16.16 | 13.27 | -2.89 | ---- | -0.70 | -0.04 | 0.67 | ||
| 2048 | 16.16 | 13.27 | -2.89 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2049 | 16.17 | 13.28 | -2.90 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2050 | 16.19 | 13.28 | -2.91 | ---- | -0.76 | -0.04 | 0.72 | ||
| 2051 | 16.21 | 13.28 | -2.93 | ---- | -0.78 | -0.04 | 0.73 | ||
| 2052 | 16.22 | 13.28 | -2.94 | ---- | -0.79 | -0.04 | 0.75 | ||
| 2053 | 16.25 | 13.28 | -2.97 | ---- | -0.80 | -0.04 | 0.76 | ||
| 2054 | 16.29 | 13.29 | -3.00 | ---- | -0.81 | -0.05 | 0.77 | ||
| 2055 | 16.33 | 13.29 | -3.04 | ---- | -0.82 | -0.05 | 0.78 | ||
| 2056 | 16.37 | 13.29 | -3.08 | ---- | -0.83 | -0.05 | 0.79 | ||
| 2057 | 16.42 | 13.30 | -3.12 | ---- | -0.84 | -0.05 | 0.79 | ||
| 2058 | 16.48 | 13.30 | -3.17 | ---- | -0.85 | -0.05 | 0.80 | ||
| 2059 | 16.53 | 13.31 | -3.23 | ---- | -0.85 | -0.05 | 0.81 | ||
| 2060 | 16.59 | 13.31 | -3.28 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2061 | 16.65 | 13.32 | -3.33 | ---- | -0.86 | -0.05 | 0.82 | ||
| 2062 | 16.70 | 13.32 | -3.38 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2063 | 16.75 | 13.32 | -3.43 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2064 | 16.80 | 13.33 | -3.47 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2065 | 16.85 | 13.33 | -3.52 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2066 | 16.90 | 13.34 | -3.56 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2067 | 16.95 | 13.34 | -3.61 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2068 | 17.00 | 13.34 | -3.65 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2069 | 17.05 | 13.35 | -3.70 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2070 | 17.11 | 13.35 | -3.75 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2071 | 17.16 | 13.36 | -3.80 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2072 | 17.21 | 13.36 | -3.85 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2073 | 17.26 | 13.36 | -3.89 | ---- | -0.91 | -0.05 | 0.85 | ||
| 2074 | 17.30 | 13.37 | -3.94 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2075 | 17.34 | 13.37 | -3.97 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2076 | 17.37 | 13.37 | -4.00 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2077 | 17.40 | 13.37 | -4.02 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2078 | 17.41 | 13.38 | -4.03 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2079 | 17.40 | 13.38 | -4.03 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2080 | 17.39 | 13.38 | -4.01 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2081 | 17.36 | 13.37 | -3.99 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2082 | 17.33 | 13.37 | -3.96 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2083 | 17.30 | 13.37 | -3.92 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2084 | 17.25 | 13.37 | -3.88 | ---- | -0.91 | -0.05 | 0.85 | ||
| 2085 | 17.20 | 13.37 | -3.84 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2086 | 17.15 | 13.36 | -3.78 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2087 | 17.08 | 13.36 | -3.72 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2088 | 17.02 | 13.35 | -3.67 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2089 | 16.96 | 13.35 | -3.61 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2090 | 16.90 | 13.35 | -3.56 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2091 | 16.86 | 13.34 | -3.51 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2092 | 16.82 | 13.34 | -3.48 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2093 | 16.79 | 13.34 | -3.45 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2094 | 16.77 | 13.34 | -3.43 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2095 | 16.76 | 13.34 | -3.42 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2096 | 16.76 | 13.34 | -3.42 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2097 | 16.77 | 13.34 | -3.43 | ---- | -0.88 | -0.05 | 0.83 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2022-2096 | 16.53% | 13.74% | -2.79% | 2035 | -0.66% | -0.04% | 0.63% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2022 Trustees Report.