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Detailed Single Year Tables

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2016-2021, until the rate reaches 13.0 percent for 2021 and later.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201313.9512.69-1.26
330
0.000.000.00
201414.0412.83-1.20
315
0.000.000.00
201513.9712.86-1.10
301
0.000.000.00
201613.9112.97-0.94
286
0.000.090.09
201713.8813.09-0.79
272
0.000.190.19
201813.9113.21-0.70
259
0.000.280.28
201914.0613.33-0.73
248
0.000.380.38
202014.2613.44-0.82
237
0.000.470.47
202114.4413.56-0.88
227
0.000.570.57
202214.7013.60-1.11
216
0.000.570.57
202314.9713.61-1.35
205
0.000.570.57
202415.2313.63-1.60
193
0.000.570.57
202515.4713.64-1.83
181
0.000.570.57
202615.7113.66-2.05
168
0.000.570.57
202715.9313.67-2.26
155
0.000.570.58
202816.1313.68-2.45
142
0.000.570.58
202916.3213.69-2.63
127
0.000.570.58
203016.4913.70-2.79
112
0.000.570.58
203116.6313.71-2.92
96
0.000.570.58
203216.7513.72-3.03
80
0.000.570.58
203316.8513.73-3.12
63
0.000.570.58
203416.9313.73-3.20
45
-0.010.570.58
203516.9813.74-3.24
27
-0.010.570.58
203617.0013.74-3.26
9
-0.010.570.58
203717.0213.74-3.27
----
-0.010.570.58
203817.0113.74-3.27
----
-0.010.570.58
203916.9913.74-3.24
----
-0.010.570.58
204016.9613.74-3.21
----
-0.010.570.58
204116.9213.74-3.18
----
-0.010.570.58
204216.8913.74-3.14
----
-0.010.570.58
204316.8513.74-3.11
----
-0.010.570.58
204416.8313.74-3.09
----
-0.010.570.58
204516.8213.74-3.07
----
-0.010.570.58
204616.8113.74-3.06
----
-0.010.570.58
204716.7913.74-3.05
----
-0.010.570.59
204816.7813.74-3.04
----
-0.010.570.59
204916.7713.74-3.03
----
-0.010.570.59
205016.7713.74-3.03
----
-0.010.570.59
205116.7813.75-3.03
----
-0.010.570.59
205216.7913.75-3.05
----
-0.010.570.59
205316.8213.75-3.07
----
-0.020.570.59
205416.8513.75-3.10
----
-0.020.570.59
205516.8913.75-3.14
----
-0.020.570.59
205616.9413.76-3.18
----
-0.020.570.59
205716.9913.76-3.22
----
-0.020.570.59
205817.0313.76-3.27
----
-0.020.570.59
205917.0813.77-3.31
----
-0.020.570.59
206017.1213.77-3.35
----
-0.020.570.59
206117.1613.77-3.39
----
-0.020.570.60
206217.2113.78-3.43
----
-0.020.570.60
206317.2513.78-3.47
----
-0.020.580.60
206417.2913.78-3.51
----
-0.020.580.60
206517.3313.78-3.55
----
-0.020.580.60
206617.3813.79-3.59
----
-0.020.580.60
206717.4313.79-3.64
----
-0.020.580.60
206817.4713.79-3.68
----
-0.020.580.60
206917.5213.79-3.72
----
-0.020.580.60
207017.5613.80-3.76
----
-0.020.580.60
207117.6013.80-3.80
----
-0.020.580.60
207217.6313.80-3.83
----
-0.020.580.60
207317.6613.80-3.85
----
-0.020.580.60
207417.6813.81-3.87
----
-0.020.580.60
207517.7013.81-3.89
----
-0.020.580.60
207617.7113.81-3.90
----
-0.020.580.60
207717.7113.81-3.90
----
-0.020.580.60
207817.7213.81-3.91
----
-0.020.580.60
207917.7213.81-3.91
----
-0.020.580.60
208017.7313.81-3.92
----
-0.020.580.60
208117.7513.81-3.94
----
-0.020.580.60
208217.7813.81-3.96
----
-0.020.580.60
208317.8113.81-3.99
----
-0.020.580.60
208417.8513.82-4.03
----
-0.020.580.60
208517.8913.82-4.07
----
-0.020.580.60
208617.9413.82-4.12
----
-0.020.580.60
208717.9913.82-4.16
----
-0.020.580.60
208818.0413.83-4.21
----
-0.020.580.60



 

Summarized Estimates

 
  Proposal
  Change from Present 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 2013 Trustees Report.
2013-2087 16.59% 14.40% -2.19%
2036
-0.01% 0.52% 0.53%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 30, 2013