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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 2016, and tax all earnings once the current-law taxable maximum exceeds $400,000. 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 2015 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 2 percent on this newly computed "AIME+".

 

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
201413.9512.67-1.29
320
0.000.000.00
201513.9712.92-1.05
306
0.000.000.00
201613.9713.83-0.14
292
0.000.940.94
201713.9713.93-0.04
284
0.001.021.03
201814.0113.99-0.02
276
0.001.061.06
201914.1414.03-0.11
268
0.001.091.09
202014.3314.07-0.25
260
0.001.121.12
202114.5014.12-0.38
253
0.001.141.14
202214.7314.17-0.56
244
0.001.161.16
202315.0014.21-0.79
235
0.001.181.19
202415.2814.27-1.01
225
0.001.221.22
202515.5414.32-1.22
216
0.001.251.25
202615.7914.37-1.42
205
0.001.291.29
202716.0314.43-1.60
195
0.001.321.32
202816.2514.48-1.76
185
0.001.361.36
202916.4414.53-1.90
175
0.001.401.40
203016.6114.59-2.02
164
0.001.441.44
203116.7514.64-2.11
153
0.001.481.48
203216.8714.69-2.18
142
0.001.531.52
203316.9614.74-2.21
130
0.001.571.57
203417.0414.80-2.24
119
0.001.621.61
203517.1014.85-2.24
107
0.011.661.66
203617.1314.91-2.23
95
0.011.711.71
203717.1514.96-2.19
84
0.011.771.76
203817.1515.02-2.13
72
0.011.821.81
203917.1315.08-2.05
61
0.011.881.87
204017.1015.14-1.96
50
0.011.941.93
204117.0615.20-1.86
40
0.012.001.99
204217.0215.26-1.76
29
0.012.072.05
204316.9915.33-1.66
20
0.012.132.12
204416.9715.40-1.56
11
0.012.212.19
204516.9515.48-1.47
2
0.012.282.27
204616.9415.53-1.41
----
0.012.332.32
204716.9315.53-1.40
----
0.012.332.32
204816.9215.53-1.39
----
0.012.332.32
204916.9115.54-1.37
----
0.022.332.32
205016.9115.54-1.37
----
0.022.342.32
205116.9115.54-1.37
----
0.022.342.32
205216.9315.54-1.39
----
0.022.342.32
205316.9615.55-1.41
----
0.022.342.32
205416.9915.55-1.44
----
0.022.342.32
205517.0315.56-1.48
----
0.022.342.32
205617.0815.56-1.52
----
0.022.342.32
205717.1315.56-1.57
----
0.022.342.32
205817.1815.57-1.61
----
0.022.352.32
205917.2315.57-1.66
----
0.022.352.32
206017.2815.58-1.70
----
0.032.352.32
206117.3315.58-1.75
----
0.032.352.32
206217.3815.59-1.79
----
0.032.352.32
206317.4315.59-1.84
----
0.032.352.33
206417.4815.60-1.88
----
0.032.352.33
206517.5315.60-1.92
----
0.032.362.33
206617.5815.61-1.97
----
0.032.362.33
206717.6315.61-2.02
----
0.032.362.33
206817.6815.62-2.06
----
0.032.362.33
206917.7215.62-2.10
----
0.032.362.33
207017.7715.62-2.15
----
0.032.362.33
207117.8115.63-2.19
----
0.032.362.33
207217.8515.63-2.22
----
0.032.372.33
207317.8815.63-2.24
----
0.032.372.33
207417.9015.64-2.26
----
0.032.372.33
207517.9215.64-2.28
----
0.032.372.33
207617.9315.64-2.28
----
0.032.372.34
207717.9315.64-2.28
----
0.042.372.34
207817.9315.65-2.28
----
0.042.372.34
207917.9315.65-2.28
----
0.042.372.34
208017.9415.65-2.29
----
0.042.382.34
208117.9515.65-2.30
----
0.042.382.34
208217.9715.65-2.32
----
0.042.382.34
208318.0015.66-2.35
----
0.042.382.34
208418.0415.66-2.38
----
0.042.382.34
208518.0815.66-2.42
----
0.042.382.34
208618.1315.67-2.46
----
0.042.382.35
208718.1815.67-2.51
----
0.042.392.35
208818.2315.68-2.55
----
0.042.392.35
208918.2815.68-2.60
----
0.042.392.35



 

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 2014 Trustees Report.
2014-2088 16.78% 15.74% -1.04%
2045
0.01% 1.85% 1.84%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 18, 2014