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Detailed Single Year Tables

Description of Proposed Provision:
B3.13: For retired worker beneficiaries newly eligible in 2023 (excluding disabled workers), add a new bend point at the wage-indexed equivalent of the 50th percentile of the AIME distribution minus $100 (for 2015 eligibility) and change the PIA factors to 95/32/15/5. Also move the current-law first bend point from the wage-indexed equivalent of $826 in 2015 to $1,050 in 2015. Phase this provision in over 10 years (2023-2032). The phase-in would work on a weighted-average basis: 90% of CL formula + 10% of proposal formula for 2023, 80% of CL formula + 20% of proposal formula for 2024, and so on.

 

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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7613.06-1.70
200
0.000.000.00
202415.0213.09-1.93
183
0.000.000.00
202515.2913.11-2.18
165
0.000.000.00
202615.4713.13-2.35
149
0.000.000.00
202715.6613.14-2.51
132
0.010.00-0.01
202815.8213.16-2.67
115
0.010.00-0.01
202915.9813.17-2.81
98
0.010.00-0.01
203016.1213.18-2.94
81
0.010.00-0.01
203116.2413.19-3.05
63
0.020.00-0.01
203216.3413.20-3.14
45
0.020.00-0.01
203316.4213.21-3.22
27
0.020.00-0.01
203416.4813.21-3.26
8
0.010.00-0.01
203516.5113.22-3.29
----
0.010.00-0.01
203616.5613.22-3.34
----
0.010.00-0.01
203716.6013.23-3.37
----
0.000.000.00
203816.6113.23-3.38
----
-0.010.000.01
203916.6013.23-3.37
----
-0.010.000.01
204016.5713.23-3.34
----
-0.020.000.02
204116.5313.23-3.30
----
-0.030.000.03
204216.5013.23-3.27
----
-0.030.000.03
204316.4613.23-3.23
----
-0.040.000.04
204416.4213.23-3.20
----
-0.040.000.04
204516.4013.23-3.17
----
-0.050.000.05
204616.3713.23-3.15
----
-0.050.000.05
204716.3513.23-3.12
----
-0.050.000.05
204816.3313.23-3.10
----
-0.060.000.05
204916.3113.23-3.08
----
-0.060.000.05
205016.3013.23-3.07
----
-0.060.000.06
205116.3013.23-3.07
----
-0.060.000.06
205216.3113.23-3.08
----
-0.060.000.06
205316.3313.23-3.09
----
-0.070.000.06
205416.3613.24-3.12
----
-0.070.000.06
205516.3913.24-3.16
----
-0.070.000.06
205616.4413.24-3.20
----
-0.070.000.07
205716.4913.25-3.24
----
-0.070.000.07
205816.5313.25-3.28
----
-0.070.000.07
205916.5813.25-3.33
----
-0.070.000.07
206016.6313.26-3.37
----
-0.080.000.07
206116.6813.26-3.42
----
-0.080.000.07
206216.7313.26-3.47
----
-0.080.000.07
206316.7813.27-3.51
----
-0.080.000.07
206416.8313.27-3.55
----
-0.080.000.07
206516.8813.27-3.60
----
-0.080.000.08
206616.9313.28-3.65
----
-0.080.000.08
206716.9813.28-3.70
----
-0.080.000.08
206817.0313.29-3.74
----
-0.080.000.08
206917.0813.29-3.79
----
-0.090.000.08
207017.1313.29-3.84
----
-0.090.000.08
207117.1813.30-3.88
----
-0.09-0.010.08
207217.2213.30-3.92
----
-0.09-0.010.08
207317.2513.30-3.95
----
-0.09-0.010.08
207417.2813.30-3.98
----
-0.09-0.010.09
207517.3013.30-4.00
----
-0.09-0.010.09
207617.3113.31-4.01
----
-0.09-0.010.09
207717.3213.31-4.01
----
-0.09-0.010.09
207817.3113.31-4.01
----
-0.10-0.010.09
207917.3113.31-4.00
----
-0.10-0.010.09
208017.3013.31-4.00
----
-0.10-0.010.09
208117.3013.31-4.00
----
-0.10-0.010.09
208217.3113.31-4.00
----
-0.10-0.010.09
208317.3213.31-4.01
----
-0.10-0.010.09
208417.3413.31-4.03
----
-0.10-0.010.10
208517.3713.31-4.06
----
-0.10-0.010.10
208617.4013.31-4.09
----
-0.10-0.010.10
208717.4413.31-4.13
----
-0.10-0.010.10
208817.4813.32-4.16
----
-0.10-0.010.10
208917.5313.32-4.21
----
-0.10-0.010.10
209017.5713.32-4.25
----
-0.10-0.010.10
209117.6213.33-4.29
----
-0.11-0.010.10



 

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 2016 Trustees Report.
2016-2090 16.46% 13.84% -2.62%
2034
-0.04% -0.00% 0.04%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified October 3, 2016