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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2021, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $400,000 in 2017, with the threshold wage-indexed after 2021. Provide proportional benefit credit for additional earnings taxed.

 

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
201613.9112.88-1.03
286
0.000.000.00
201713.8812.90-0.98
271
0.000.000.00
201813.9112.93-0.98
257
0.000.000.00
201914.0612.95-1.11
244
0.000.000.00
202014.2612.97-1.29
231
0.000.000.00
202114.4413.16-1.28
218
0.000.170.17
202214.7013.20-1.51
205
0.000.170.17
202314.9713.22-1.75
191
0.000.170.17
202415.2313.23-2.00
177
0.000.170.17
202515.4813.25-2.23
162
0.000.170.17
202615.7113.26-2.45
147
0.000.170.17
202715.9313.27-2.66
131
0.000.170.17
202816.1413.29-2.85
115
0.000.180.17
202916.3313.30-3.03
98
0.000.180.17
203016.5013.31-3.19
81
0.010.180.17
203116.6413.32-3.32
62
0.010.180.17
203216.7613.32-3.43
43
0.010.180.17
203316.8713.33-3.53
24
0.010.180.17
203416.9413.34-3.61
3
0.010.180.17
203516.9913.34-3.65
----
0.010.180.17
203617.0213.34-3.68
----
0.010.180.16
203717.0413.35-3.69
----
0.010.180.16
203817.0313.35-3.69
----
0.020.180.16
203917.0113.35-3.66
----
0.020.180.16
204016.9813.35-3.63
----
0.020.180.16
204116.9513.35-3.60
----
0.020.180.16
204216.9213.35-3.57
----
0.020.180.16
204316.8913.35-3.54
----
0.020.180.15
204416.8713.35-3.52
----
0.030.180.15
204516.8613.35-3.51
----
0.030.180.15
204616.8513.35-3.50
----
0.030.180.15
204716.8413.35-3.49
----
0.030.180.15
204816.8313.35-3.48
----
0.030.180.15
204916.8213.35-3.47
----
0.040.180.14
205016.8213.35-3.47
----
0.040.180.14
205116.8313.35-3.48
----
0.040.180.14
205216.8513.36-3.50
----
0.040.180.14
205316.8813.36-3.52
----
0.050.180.14
205416.9213.36-3.56
----
0.050.180.14
205516.9613.36-3.60
----
0.050.180.13
205617.0113.37-3.64
----
0.050.180.13
205717.0613.37-3.69
----
0.060.180.13
205817.1113.37-3.73
----
0.060.180.13
205917.1513.38-3.78
----
0.060.190.13
206017.2013.38-3.82
----
0.060.190.12
206117.2513.38-3.87
----
0.060.190.12
206217.2913.39-3.91
----
0.070.190.12
206317.3413.39-3.95
----
0.070.190.12
206417.3813.39-3.99
----
0.070.190.12
206517.4313.40-4.03
----
0.070.190.11
206617.4813.40-4.08
----
0.070.190.11
206717.5313.40-4.12
----
0.080.190.11
206817.5713.41-4.17
----
0.080.190.11
206917.6213.41-4.21
----
0.080.190.11
207017.6713.41-4.25
----
0.080.190.11
207117.7113.41-4.29
----
0.080.190.11
207217.7413.42-4.32
----
0.080.190.11
207317.7713.42-4.35
----
0.090.190.11
207417.7913.42-4.37
----
0.090.190.10
207517.8113.42-4.39
----
0.090.190.10
207617.8213.42-4.40
----
0.090.190.10
207717.8213.42-4.40
----
0.090.190.10
207817.8313.42-4.41
----
0.090.190.10
207917.8413.42-4.41
----
0.090.190.10
208017.8513.42-4.43
----
0.090.190.10
208117.8713.43-4.44
----
0.090.190.10
208217.8913.43-4.47
----
0.090.190.10
208317.9313.43-4.50
----
0.090.190.10
208417.9613.43-4.53
----
0.090.190.10
208518.0113.43-4.57
----
0.090.190.10
208618.0613.44-4.62
----
0.090.190.10
208718.1113.44-4.67
----
0.090.190.10
208818.1613.44-4.72
----
0.090.190.10



 

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 16.63% 14.04% -2.60%
2034
0.04% 0.16% 0.12%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 11, 2013