Detailed Single Year Tables

Payroll Taxes (including maximum taxable)

Description of Proposed Provision:
E2.13: Apply OASDI payroll tax rate on earnings above $400,000 starting in 2018, 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 2017 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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2016	14.05	12.94	-1.10	303	0.00	0.00	0.00
2017	13.72	12.92	-0.80	293	0.00	0.00	0.00
2018	13.86	13.95	0.10	277	0.00	1.00	1.00
2019	13.98	14.04	0.06	268	0.00	1.07	1.08
2020	14.13	14.08	-0.05	260	0.00	1.10	1.10
2021	14.27	14.13	-0.14	253	0.00	1.13	1.13
2022	14.49	14.18	-0.31	244	0.00	1.15	1.15
2023	14.76	14.22	-0.53	234	0.00	1.16	1.17
2024	15.02	14.28	-0.75	224	0.00	1.18	1.19
2025	15.28	14.31	-0.97	213	0.00	1.20	1.20
2026	15.47	14.36	-1.11	203	0.00	1.24	1.24
2027	15.65	14.41	-1.23	194	0.00	1.27	1.27
2028	15.81	14.47	-1.35	184	0.00	1.31	1.31
2029	15.97	14.52	-1.45	175	0.00	1.35	1.35
2030	16.10	14.57	-1.54	166	0.00	1.39	1.39
2031	16.22	14.62	-1.61	157	0.00	1.43	1.43
2032	16.33	14.67	-1.66	148	0.00	1.47	1.47
2033	16.41	14.72	-1.69	139	0.00	1.51	1.51
2034	16.47	14.77	-1.70	130	0.00	1.56	1.55
2035	16.50	14.82	-1.68	121	0.00	1.60	1.60
2036	16.56	14.87	-1.69	112	0.00	1.65	1.65
2037	16.60	14.93	-1.68	103	0.01	1.70	1.70
2038	16.62	14.98	-1.64	94	0.01	1.75	1.75
2039	16.62	15.04	-1.58	86	0.01	1.81	1.80
2040	16.60	15.09	-1.50	77	0.01	1.86	1.86
2041	16.57	15.15	-1.42	69	0.01	1.92	1.91
2042	16.54	15.22	-1.33	62	0.01	1.98	1.98
2043	16.51	15.28	-1.23	55	0.01	2.05	2.04
2044	16.48	15.35	-1.13	48	0.01	2.12	2.11
2045	16.46	15.42	-1.04	42	0.01	2.19	2.18
2046	16.44	15.50	-0.94	36	0.01	2.26	2.25
2047	16.41	15.56	-0.86	31	0.01	2.32	2.31
2048	16.40	15.56	-0.84	27	0.01	2.33	2.31
2049	16.38	15.56	-0.82	22	0.01	2.33	2.31
2050	16.37	15.56	-0.81	17	0.02	2.33	2.31
2051	16.37	15.56	-0.81	13	0.02	2.33	2.31
2052	16.39	15.57	-0.82	8	0.02	2.33	2.31
2053	16.41	15.57	-0.84	3	0.02	2.33	2.31
2054	16.44	15.57	-0.87	----	0.02	2.33	2.31
2055	16.48	15.58	-0.91	----	0.02	2.33	2.31
2056	16.53	15.58	-0.95	----	0.02	2.33	2.31
2057	16.58	15.59	-0.99	----	0.02	2.34	2.31
2058	16.63	15.59	-1.04	----	0.02	2.34	2.31
2059	16.68	15.60	-1.08	----	0.02	2.34	2.31
2060	16.73	15.60	-1.13	----	0.02	2.34	2.31
2061	16.78	15.61	-1.18	----	0.03	2.34	2.31
2062	16.83	15.61	-1.22	----	0.03	2.34	2.31
2063	16.88	15.61	-1.27	----	0.03	2.34	2.31
2064	16.93	15.62	-1.31	----	0.03	2.34	2.32
2065	16.98	15.62	-1.36	----	0.03	2.34	2.32
2066	17.04	15.63	-1.41	----	0.03	2.34	2.32
2067	17.09	15.63	-1.46	----	0.03	2.35	2.32
2068	17.14	15.64	-1.51	----	0.03	2.35	2.32
2069	17.20	15.64	-1.55	----	0.03	2.35	2.32
2070	17.25	15.65	-1.60	----	0.03	2.35	2.32
2071	17.30	15.65	-1.65	----	0.03	2.35	2.32
2072	17.34	15.66	-1.68	----	0.03	2.35	2.32
2073	17.37	15.66	-1.71	----	0.03	2.35	2.32
2074	17.40	15.66	-1.74	----	0.03	2.35	2.32
2075	17.43	15.67	-1.76	----	0.03	2.36	2.32
2076	17.44	15.67	-1.77	----	0.03	2.36	2.32
2077	17.44	15.67	-1.77	----	0.03	2.36	2.32
2078	17.44	15.67	-1.77	----	0.04	2.36	2.32
2079	17.44	15.67	-1.77	----	0.04	2.36	2.32
2080	17.44	15.67	-1.76	----	0.04	2.36	2.33
2081	17.44	15.67	-1.76	----	0.04	2.36	2.33
2082	17.44	15.68	-1.77	----	0.04	2.36	2.33
2083	17.46	15.68	-1.78	----	0.04	2.37	2.33
2084	17.48	15.68	-1.80	----	0.04	2.37	2.33
2085	17.51	15.68	-1.82	----	0.04	2.37	2.33
2086	17.54	15.69	-1.86	----	0.04	2.37	2.33
2087	17.58	15.69	-1.89	----	0.04	2.37	2.33
2088	17.62	15.69	-1.93	----	0.04	2.37	2.33
2089	17.67	15.70	-1.97	----	0.04	2.37	2.33
2090	17.72	15.70	-2.01	----	0.04	2.37	2.33
2091	17.76	15.71	-2.06	----	0.04	2.38	2.33

				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 2016 Trustees Report.
2016-2090	16.52%	15.74%	-0.78%	2053	0.02%	1.90%	1.88%

¹ Under present law, the year of Trust Fund reserve depletion is 2034.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates