Detailed Single Year Tables

Payroll Taxes (including maximum taxable)

Description of Proposed Provision:
Apply OASDI payroll tax rate on earnings above $400,000 starting in 2015, and tax all earnings once the current-law taxable maximum exceeds $400,000. 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 2 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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2013	13.95	12.69	-1.26	330	0.00	0.00	0.00
2014	14.04	12.83	-1.20	315	0.00	0.00	0.00
2015	13.97	13.73	-0.24	301	0.00	0.86	0.86
2016	13.91	13.84	-0.07	292	0.00	0.96	0.96
2017	13.88	13.91	0.03	283	0.00	1.01	1.01
2018	13.91	13.98	0.07	276	0.00	1.05	1.05
2019	14.06	14.03	-0.03	270	0.00	1.08	1.08
2020	14.26	14.08	-0.18	264	0.00	1.11	1.11
2021	14.44	14.13	-0.32	257	0.00	1.14	1.13
2022	14.71	14.19	-0.52	250	0.00	1.16	1.16
2023	14.97	14.24	-0.73	242	0.00	1.20	1.20
2024	15.23	14.29	-0.94	234	0.00	1.23	1.23
2025	15.48	14.34	-1.14	225	0.00	1.27	1.27
2026	15.71	14.39	-1.32	217	0.00	1.30	1.30
2027	15.93	14.44	-1.49	208	0.00	1.34	1.34
2028	16.14	14.49	-1.65	199	0.00	1.38	1.38
2029	16.33	14.54	-1.79	189	0.00	1.42	1.42
2030	16.50	14.59	-1.90	179	0.00	1.46	1.46
2031	16.64	14.65	-1.99	169	0.00	1.50	1.50
2032	16.76	14.70	-2.06	159	0.00	1.55	1.55
2033	16.86	14.75	-2.11	148	0.00	1.60	1.59
2034	16.94	14.81	-2.13	137	0.01	1.65	1.64
2035	16.99	14.86	-2.13	126	0.01	1.70	1.69
2036	17.02	14.92	-2.10	115	0.01	1.75	1.74
2037	17.03	14.97	-2.06	104	0.01	1.80	1.80
2038	17.03	15.03	-1.99	94	0.01	1.86	1.85
2039	17.00	15.09	-1.91	83	0.01	1.92	1.91
2040	16.97	15.16	-1.82	74	0.01	1.99	1.98
2041	16.94	15.22	-1.72	64	0.01	2.05	2.04
2042	16.91	15.29	-1.61	55	0.01	2.12	2.11
2043	16.88	15.36	-1.51	47	0.01	2.19	2.18
2044	16.86	15.44	-1.41	39	0.01	2.27	2.26
2045	16.84	15.50	-1.34	31	0.01	2.33	2.32
2046	16.83	15.50	-1.33	24	0.01	2.33	2.32
2047	16.82	15.51	-1.32	16	0.01	2.34	2.32
2048	16.81	15.51	-1.30	9	0.02	2.34	2.32
2049	16.80	15.51	-1.29	1	0.02	2.34	2.32
2050	16.80	15.51	-1.29	----	0.02	2.34	2.32
2051	16.81	15.51	-1.30	----	0.02	2.34	2.32
2052	16.83	15.52	-1.31	----	0.02	2.34	2.32
2053	16.86	15.52	-1.34	----	0.02	2.34	2.32
2054	16.89	15.52	-1.37	----	0.02	2.34	2.32
2055	16.93	15.53	-1.41	----	0.02	2.35	2.32
2056	16.98	15.53	-1.45	----	0.02	2.35	2.32
2057	17.03	15.54	-1.49	----	0.02	2.35	2.33
2058	17.07	15.54	-1.53	----	0.02	2.35	2.33
2059	17.12	15.54	-1.58	----	0.03	2.35	2.33
2060	17.17	15.55	-1.62	----	0.03	2.35	2.33
2061	17.21	15.55	-1.66	----	0.03	2.35	2.33
2062	17.25	15.56	-1.70	----	0.03	2.36	2.33
2063	17.30	15.56	-1.74	----	0.03	2.36	2.33
2064	17.34	15.56	-1.78	----	0.03	2.36	2.33
2065	17.39	15.57	-1.82	----	0.03	2.36	2.33
2066	17.43	15.57	-1.86	----	0.03	2.36	2.33
2067	17.48	15.58	-1.90	----	0.03	2.36	2.33
2068	17.53	15.58	-1.95	----	0.03	2.36	2.33
2069	17.57	15.58	-1.99	----	0.03	2.37	2.33
2070	17.62	15.59	-2.03	----	0.03	2.37	2.33
2071	17.66	15.59	-2.07	----	0.03	2.37	2.33
2072	17.69	15.60	-2.09	----	0.03	2.37	2.34
2073	17.72	15.60	-2.12	----	0.03	2.37	2.34
2074	17.74	15.60	-2.14	----	0.04	2.37	2.34
2075	17.76	15.60	-2.15	----	0.04	2.37	2.34
2076	17.77	15.61	-2.16	----	0.04	2.38	2.34
2077	17.77	15.61	-2.16	----	0.04	2.38	2.34
2078	17.78	15.61	-2.17	----	0.04	2.38	2.34
2079	17.79	15.61	-2.17	----	0.04	2.38	2.34
2080	17.80	15.61	-2.18	----	0.04	2.38	2.34
2081	17.81	15.62	-2.20	----	0.04	2.38	2.34
2082	17.84	15.62	-2.22	----	0.04	2.38	2.35
2083	17.87	15.62	-2.25	----	0.04	2.39	2.35
2084	17.91	15.63	-2.29	----	0.04	2.39	2.35
2085	17.95	15.63	-2.33	----	0.04	2.39	2.35
2086	18.00	15.63	-2.37	----	0.04	2.39	2.35
2087	18.06	15.64	-2.42	----	0.04	2.39	2.35
2088	18.11	15.64	-2.47	----	0.04	2.39	2.35

				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	16.61%	15.72%	-0.89%	2049	0.02%	1.84%	1.83%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates