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Detailed Single Year Tables

Description of Proposed Provision:
Apply OASDI payroll tax rate on earnings above $400,000 starting in 2017, 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 2016 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
201514.1312.82-1.31
308
0.000.000.00
201613.8812.88-1.00
298
0.000.000.00
201713.8913.900.00
280
0.000.990.99
201813.9713.990.03
271
0.001.061.06
201914.0914.04-0.05
262
0.001.091.09
202014.2214.08-0.15
254
0.001.111.11
202114.3414.12-0.22
246
0.001.141.14
202214.5214.18-0.34
239
0.001.161.16
202314.7214.21-0.51
230
0.001.181.18
202414.9514.26-0.69
221
0.001.201.20
202515.1614.32-0.85
213
0.001.241.24
202615.3614.37-0.99
205
0.001.271.27
202715.5614.42-1.14
196
0.001.311.31
202815.7514.47-1.28
188
0.001.351.35
202915.9314.53-1.40
180
0.001.391.38
203016.1014.58-1.52
172
0.001.431.43
203116.2514.64-1.61
164
0.001.471.47
203216.3814.69-1.69
155
0.001.511.51
203316.4814.74-1.74
146
0.001.561.55
203416.5614.79-1.76
137
0.001.601.60
203516.6214.85-1.77
128
0.001.651.65
203616.6814.91-1.78
119
0.011.701.70
203716.7214.96-1.76
110
0.011.761.75
203816.7415.02-1.72
101
0.011.811.80
203916.7415.08-1.65
92
0.011.871.86
204016.7215.14-1.58
83
0.011.931.92
204116.7015.21-1.49
75
0.011.991.98
204216.6715.27-1.40
68
0.012.062.05
204316.6515.34-1.31
60
0.012.132.12
204416.6315.42-1.21
53
0.012.202.19
204516.6115.49-1.11
47
0.012.282.27
204616.5915.54-1.04
41
0.012.332.32
204716.5715.55-1.02
36
0.012.332.32
204816.5615.55-1.01
30
0.012.332.32
204916.5515.55-1.00
25
0.012.332.32
205016.5615.55-1.00
19
0.022.332.32
205116.5715.56-1.01
13
0.022.332.32
205216.5915.56-1.03
8
0.022.332.32
205316.6215.56-1.06
2
0.022.342.32
205416.6615.57-1.10
----
0.022.342.32
205516.7115.57-1.14
----
0.022.342.32
205616.7615.58-1.19
----
0.022.342.32
205716.8115.58-1.23
----
0.022.342.32
205816.8715.59-1.28
----
0.022.342.32
205916.9215.59-1.33
----
0.022.342.32
206016.9815.60-1.38
----
0.022.342.32
206117.0315.60-1.43
----
0.032.342.32
206217.0815.60-1.48
----
0.032.342.32
206317.1415.61-1.53
----
0.032.352.32
206417.1915.61-1.58
----
0.032.352.32
206517.2415.62-1.63
----
0.032.352.32
206617.3015.62-1.68
----
0.032.352.32
206717.3615.63-1.73
----
0.032.352.32
206817.4215.63-1.79
----
0.032.352.32
206917.4815.64-1.84
----
0.032.352.32
207017.5315.64-1.89
----
0.032.352.32
207117.5815.65-1.94
----
0.032.362.32
207217.6315.65-1.98
----
0.032.362.32
207317.6715.66-2.01
----
0.032.362.33
207417.7015.66-2.04
----
0.032.362.33
207517.7215.66-2.06
----
0.032.362.33
207617.7315.66-2.07
----
0.032.362.33
207717.7415.67-2.07
----
0.032.362.33
207817.7415.67-2.07
----
0.042.372.33
207917.7415.67-2.07
----
0.042.372.33
208017.7415.67-2.07
----
0.042.372.33
208117.7515.67-2.08
----
0.042.372.33
208217.7615.67-2.09
----
0.042.372.33
208317.7815.68-2.11
----
0.042.372.33
208417.8115.68-2.13
----
0.042.372.34
208517.8515.68-2.16
----
0.042.372.34
208617.8815.69-2.20
----
0.042.382.34
208717.9215.69-2.23
----
0.042.382.34
208817.9715.69-2.27
----
0.042.382.34
208918.0115.70-2.31
----
0.042.382.34
209018.0615.70-2.35
----
0.042.382.34



 

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 2015 Trustees Report.
2015-2089 16.56% 15.74% -0.82%
2053
0.01% 1.88% 1.86%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015