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Detailed Single Year Tables

Description of Proposed Provision:
E2.15: Apply OASDI payroll tax rate on earnings above $300,000 starting in 2019, and tax all earnings once the current-law taxable maximum exceeds $300,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2018 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 3 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
201913.7014.090.39
273
0.001.141.14
202013.8514.210.36
267
-0.001.251.25
202114.0114.290.27
261
-0.001.301.30
202214.2514.360.11
255
-0.001.341.34
202314.5414.42-0.12
248
-0.001.371.38
202414.8214.50-0.33
240
-0.001.421.42
202515.1014.56-0.54
231
-0.001.461.46
202615.3714.63-0.74
222
0.001.501.50
202715.6214.69-0.92
213
0.001.541.54
202815.8614.76-1.10
204
0.001.591.59
202916.0714.82-1.25
195
0.001.641.64
203016.2714.89-1.38
186
0.011.701.69
203116.4514.96-1.50
177
0.011.751.74
203216.6215.03-1.59
169
0.011.811.80
203316.7515.10-1.65
160
0.011.871.86
203416.8615.17-1.69
151
0.011.931.92
203516.9415.24-1.70
142
0.012.001.98
203617.0015.31-1.69
133
0.022.072.05
203717.0415.39-1.65
125
0.022.142.12
203817.0415.46-1.58
117
0.022.212.19
203917.0215.54-1.48
109
0.022.292.27
204016.9915.57-1.42
102
0.022.322.30
204116.9415.57-1.37
95
0.032.322.30
204216.8915.57-1.32
88
0.032.322.30
204316.8415.57-1.27
82
0.032.332.30
204416.7915.57-1.23
75
0.032.332.29
204516.7515.57-1.19
69
0.042.332.29
204616.7215.56-1.15
63
0.042.332.29
204716.6915.56-1.12
57
0.042.332.29
204816.6615.56-1.09
51
0.042.332.29
204916.6315.56-1.07
45
0.052.332.29
205016.6115.57-1.05
40
0.052.332.29
205116.6115.57-1.04
34
0.052.332.28
205216.6115.57-1.04
28
0.052.342.28
205316.6215.57-1.05
22
0.052.342.28
205416.6515.57-1.07
17
0.062.342.28
205516.6815.58-1.10
10
0.062.342.28
205616.7215.58-1.14
4
0.062.342.28
205716.7615.58-1.18
----
0.062.342.28
205816.8115.59-1.22
----
0.072.342.28
205916.8515.59-1.26
----
0.072.342.27
206016.9015.60-1.30
----
0.072.352.27
206116.9515.60-1.35
----
0.072.352.27
206217.0015.61-1.39
----
0.082.352.27
206317.0515.61-1.44
----
0.082.352.27
206417.1015.62-1.48
----
0.082.352.27
206517.1515.62-1.53
----
0.082.352.27
206617.2015.62-1.58
----
0.082.352.27
206717.2515.63-1.62
----
0.092.352.27
206817.3115.63-1.67
----
0.092.362.27
206917.3615.64-1.72
----
0.092.362.27
207017.4215.64-1.77
----
0.092.362.27
207117.4615.65-1.82
----
0.092.362.27
207217.5115.65-1.85
----
0.092.362.27
207317.5415.66-1.89
----
0.092.362.27
207417.5715.66-1.92
----
0.102.362.27
207517.6015.66-1.94
----
0.102.372.27
207617.6215.66-1.95
----
0.102.372.27
207717.6215.67-1.96
----
0.102.372.27
207817.6215.67-1.95
----
0.102.372.27
207917.6215.67-1.95
----
0.102.372.27
208017.6115.67-1.94
----
0.102.372.27
208117.6115.67-1.94
----
0.102.372.27
208217.6115.67-1.93
----
0.102.382.27
208317.6115.67-1.94
----
0.102.382.27
208417.6315.68-1.95
----
0.102.382.28
208517.6515.68-1.98
----
0.102.382.28
208617.6815.68-2.00
----
0.102.382.28
208717.7215.69-2.04
----
0.102.382.28
208817.7615.69-2.07
----
0.112.382.28
208917.8115.69-2.11
----
0.112.382.28
209017.8615.70-2.16
----
0.112.392.28
209117.9015.70-2.20
----
0.112.392.28
209217.9515.71-2.25
----
0.112.392.28



 

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 16.71% 15.89% -0.83%
2056
0.05% 2.05% 2.00%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017