Description of Proposed Provision:
A5: Starting December 2018, add 1 percentage point to the annual COLA for beneficiaries who have lived past a "specified age". The "specified age" is the sum of: (1) 65 and (2) the unisex cohort life expectancy at age 65.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2017 | 13.41 | 13.03 | -0.38 | 298 | 0.00 | 0.00 | 0.00 | ||
| 2018 | 13.49 | 12.93 | -0.56 | 287 | 0.00 | 0.00 | 0.00 | ||
| 2019 | 13.71 | 12.95 | -0.77 | 273 | 0.01 | 0.00 | -0.01 | ||
| 2020 | 13.88 | 12.96 | -0.92 | 258 | 0.02 | 0.00 | -0.02 | ||
| 2021 | 14.05 | 12.99 | -1.06 | 244 | 0.03 | 0.00 | -0.03 | ||
| 2022 | 14.30 | 13.03 | -1.27 | 229 | 0.04 | 0.00 | -0.04 | ||
| 2023 | 14.60 | 13.05 | -1.55 | 213 | 0.05 | 0.00 | -0.05 | ||
| 2024 | 14.89 | 13.09 | -1.80 | 197 | 0.06 | 0.00 | -0.06 | ||
| 2025 | 15.16 | 13.11 | -2.06 | 180 | 0.06 | 0.00 | -0.06 | ||
| 2026 | 15.44 | 13.14 | -2.30 | 163 | 0.07 | 0.00 | -0.06 | ||
| 2027 | 15.69 | 13.16 | -2.53 | 145 | 0.07 | 0.00 | -0.07 | ||
| 2028 | 15.93 | 13.17 | -2.76 | 127 | 0.08 | 0.00 | -0.07 | ||
| 2029 | 16.15 | 13.19 | -2.96 | 109 | 0.08 | 0.00 | -0.07 | ||
| 2030 | 16.35 | 13.20 | -3.15 | 90 | 0.08 | 0.00 | -0.08 | ||
| 2031 | 16.53 | 13.21 | -3.32 | 71 | 0.09 | 0.00 | -0.08 | ||
| 2032 | 16.70 | 13.22 | -3.47 | 52 | 0.09 | 0.00 | -0.08 | ||
| 2033 | 16.83 | 13.23 | -3.60 | 32 | 0.09 | 0.01 | -0.09 | ||
| 2034 | 16.94 | 13.24 | -3.71 | 11 | 0.10 | 0.01 | -0.09 | ||
| 2035 | 17.03 | 13.25 | -3.78 | ---- | 0.10 | 0.01 | -0.09 | ||
| 2036 | 17.09 | 13.25 | -3.84 | ---- | 0.10 | 0.01 | -0.10 | ||
| 2037 | 17.13 | 13.25 | -3.87 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2038 | 17.13 | 13.26 | -3.88 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2039 | 17.11 | 13.25 | -3.85 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2040 | 17.07 | 13.25 | -3.82 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2041 | 17.03 | 13.25 | -3.77 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2042 | 16.97 | 13.25 | -3.72 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2043 | 16.92 | 13.25 | -3.67 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2044 | 16.87 | 13.24 | -3.63 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2045 | 16.84 | 13.24 | -3.59 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2046 | 16.80 | 13.24 | -3.56 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2047 | 16.77 | 13.24 | -3.53 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2048 | 16.74 | 13.24 | -3.50 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2049 | 16.71 | 13.24 | -3.47 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2050 | 16.69 | 13.24 | -3.46 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2051 | 16.68 | 13.24 | -3.45 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2052 | 16.69 | 13.24 | -3.45 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2053 | 16.70 | 13.24 | -3.46 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2054 | 16.72 | 13.24 | -3.48 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2055 | 16.75 | 13.24 | -3.51 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2056 | 16.78 | 13.25 | -3.54 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2057 | 16.82 | 13.25 | -3.57 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2058 | 16.86 | 13.25 | -3.61 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2059 | 16.90 | 13.26 | -3.65 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2060 | 16.95 | 13.26 | -3.69 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2061 | 16.99 | 13.26 | -3.73 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2062 | 17.04 | 13.27 | -3.77 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2063 | 17.08 | 13.27 | -3.81 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2064 | 17.13 | 13.27 | -3.86 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2065 | 17.18 | 13.27 | -3.90 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2066 | 17.23 | 13.28 | -3.95 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2067 | 17.28 | 13.28 | -4.00 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2068 | 17.33 | 13.28 | -4.05 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2069 | 17.38 | 13.29 | -4.10 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2070 | 17.44 | 13.29 | -4.15 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2071 | 17.48 | 13.29 | -4.19 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2072 | 17.53 | 13.30 | -4.23 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2073 | 17.56 | 13.30 | -4.26 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2074 | 17.60 | 13.30 | -4.29 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2075 | 17.62 | 13.30 | -4.31 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2076 | 17.63 | 13.30 | -4.33 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2077 | 17.64 | 13.31 | -4.33 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2078 | 17.64 | 13.31 | -4.33 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2079 | 17.63 | 13.30 | -4.32 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2080 | 17.62 | 13.30 | -4.32 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2081 | 17.62 | 13.30 | -4.31 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2082 | 17.62 | 13.30 | -4.31 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2083 | 17.62 | 13.30 | -4.32 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2084 | 17.64 | 13.30 | -4.34 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2085 | 17.66 | 13.31 | -4.36 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2086 | 17.69 | 13.31 | -4.39 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2087 | 17.73 | 13.31 | -4.42 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2088 | 17.77 | 13.31 | -4.46 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2089 | 17.82 | 13.31 | -4.50 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2090 | 17.86 | 13.32 | -4.55 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2091 | 17.91 | 13.32 | -4.59 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2092 | 17.96 | 13.32 | -4.64 | ---- | 0.12 | 0.01 | -0.11 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2017-2091 | 16.77% | 13.84% | -2.92% | 2034 | 0.10% | 0.01% | -0.09% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2017 Trustees Report.