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Detailed Single Year Tables
Payroll Taxes (including maximum taxable)

Description of Proposed Provision:
Eliminate the taxable maximum in years 2019 and later. Phase in elimination by taxing all earnings above the current law taxable maximum at: 2.48 percent in 2015, 4.96 percent in 2016, and so on, up to 12.40 percent in 2019. Credit the additional earnings for benefit purposes by: (a) calculating a second average indexed monthly earnings (AIME+) reflecting only earnings taxed above the current law taxable maximum, (b) applying a 5 percent factor on this newly computed AIME+ to develop a second component of the PIA, and (c) adding this second component to the current-law PIA.

 

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
201513.9713.34-0.63
301
0.000.470.47
201613.9113.86-0.05
289
0.000.980.98
201713.8814.360.48
281
0.001.461.46
201813.9114.850.93
277
0.001.921.92
201914.0615.291.23
277
0.002.342.34
202014.2615.301.04
279
0.002.342.33
202114.4515.320.87
280
0.012.322.32
202214.7115.340.63
280
0.012.312.30
202314.9815.360.38
279
0.012.312.30
202415.2415.370.13
278
0.012.312.30
202515.4915.39-0.10
275
0.022.322.30
202615.7315.40-0.33
273
0.022.322.30
202715.9515.42-0.53
270
0.022.322.30
202816.1615.43-0.73
267
0.032.322.29
202916.3615.44-0.91
263
0.032.322.29
203016.5315.46-1.08
259
0.042.322.29
203116.6815.47-1.21
253
0.042.332.28
203216.8015.48-1.33
248
0.052.332.28
203316.9115.48-1.43
242
0.052.332.27
203416.9915.49-1.50
236
0.062.332.27
203517.0515.50-1.55
229
0.072.332.26
203617.0815.50-1.58
223
0.072.332.26
203717.1015.50-1.60
216
0.082.332.26
203817.1015.51-1.59
210
0.082.342.25
203917.0815.51-1.57
203
0.092.342.25
204017.0615.51-1.55
197
0.092.342.24
204117.0315.51-1.52
191
0.102.342.24
204217.0015.51-1.49
185
0.102.342.24
204316.9715.51-1.46
179
0.112.342.23
204416.9615.51-1.44
173
0.122.342.23
204516.9515.52-1.43
167
0.122.352.23
204616.9515.52-1.43
160
0.132.352.22
204716.9415.52-1.42
154
0.132.352.22
204816.9315.52-1.41
148
0.142.352.21
204916.9315.52-1.40
142
0.142.352.21
205016.9315.53-1.41
136
0.152.362.21
205116.9415.53-1.42
130
0.152.362.20
205216.9715.53-1.44
123
0.162.362.20
205317.0015.54-1.46
116
0.162.362.20
205417.0415.54-1.50
109
0.172.362.19
205517.0815.54-1.54
102
0.172.362.19
205617.1315.55-1.59
94
0.182.372.19
205717.1915.55-1.63
86
0.182.372.18
205817.2415.56-1.68
78
0.192.372.18
205917.2915.56-1.72
69
0.192.372.18
206017.3415.57-1.77
60
0.202.372.18
206117.3815.57-1.81
51
0.202.372.17
206217.4315.58-1.85
41
0.202.382.17
206317.4815.58-1.90
32
0.212.382.17
206417.5215.59-1.94
21
0.212.382.17
206517.5715.59-1.98
11
0.212.382.17
206617.6215.59-2.02
0
0.222.382.17
206717.6715.60-2.07
----
0.222.382.17
206817.7215.60-2.11
----
0.222.392.17
206917.7615.61-2.16
----
0.222.392.16
207017.8115.61-2.20
----
0.232.392.16
207117.8515.62-2.24
----
0.232.392.16
207217.8915.62-2.27
----
0.232.392.16
207317.9115.62-2.29
----
0.232.392.16
207417.9415.62-2.31
----
0.232.402.16
207517.9515.63-2.33
----
0.232.402.16
207617.9715.63-2.34
----
0.232.402.16
207717.9715.63-2.34
----
0.242.402.16
207817.9815.63-2.34
----
0.242.402.17
207917.9915.64-2.35
----
0.242.402.17
208018.0015.64-2.36
----
0.242.402.17
208118.0215.64-2.38
----
0.242.412.17
208218.0415.64-2.40
----
0.242.412.17
208318.0715.65-2.43
----
0.242.412.17
208418.1115.65-2.46
----
0.242.412.17
208518.1615.65-2.51
----
0.242.412.17
208618.2115.66-2.55
----
0.242.412.17
208718.2615.66-2.60
----
0.252.412.17
208818.3115.67-2.65
----
0.252.422.17



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2013 Trustees Report.
2013-2087 16.71% 16.08% -0.63%
2066
0.11% 2.21% 2.09%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 11, 2013