Long Range Solvency Provisions

Description of Proposed Provision:
E3.17: Beginning in 2019, increase the taxable maximum by twice the rate of increase in the national Average Wage Index, but never by less than 3 percent. Provide benefit credit for earnings up to the revised taxable maximum levels.

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	Trust fund ratio as of January 1	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	13.70	13.02	-0.68	273	0.00	0.07	0.07
2020	13.85	13.13	-0.73	259	-0.00	0.17	0.17
2021	14.02	13.24	-0.78	246	-0.00	0.25	0.25
2022	14.26	13.34	-0.91	233	-0.00	0.32	0.32
2023	14.54	13.43	-1.11	220	0.00	0.39	0.39
2024	14.83	13.53	-1.30	207	0.00	0.45	0.45
2025	15.10	13.60	-1.50	193	0.00	0.50	0.50
2026	15.37	13.69	-1.68	179	0.00	0.56	0.55
2027	15.62	13.76	-1.86	164	0.01	0.61	0.60
2028	15.86	13.82	-2.04	150	0.01	0.66	0.65
2029	16.08	13.89	-2.19	136	0.01	0.71	0.70
2030	16.28	13.95	-2.33	122	0.01	0.75	0.74
2031	16.47	14.01	-2.46	107	0.02	0.80	0.78
2032	16.63	14.06	-2.57	93	0.02	0.84	0.82
2033	16.77	14.11	-2.66	78	0.03	0.88	0.86
2034	16.88	14.16	-2.72	63	0.03	0.92	0.89
2035	16.96	14.20	-2.76	48	0.04	0.96	0.93
2036	17.03	14.25	-2.78	32	0.04	1.00	0.96
2037	17.07	14.29	-2.78	17	0.05	1.04	0.99
2038	17.08	14.33	-2.75	1	0.05	1.08	1.02
2039	17.06	14.36	-2.70	----	0.06	1.11	1.05
2040	17.03	14.39	-2.64	----	0.07	1.15	1.08
2041	16.99	14.42	-2.57	----	0.08	1.18	1.10
2042	16.94	14.45	-2.49	----	0.08	1.21	1.13
2043	16.90	14.48	-2.42	----	0.09	1.24	1.15
2044	16.86	14.51	-2.35	----	0.10	1.27	1.17
2045	16.83	14.54	-2.29	----	0.11	1.30	1.19
2046	16.80	14.57	-2.23	----	0.12	1.33	1.21
2047	16.78	14.59	-2.18	----	0.13	1.36	1.23
2048	16.76	14.62	-2.14	----	0.14	1.39	1.25
2049	16.74	14.65	-2.09	----	0.15	1.41	1.26
2050	16.73	14.67	-2.06	----	0.16	1.44	1.28
2051	16.73	14.70	-2.03	----	0.18	1.47	1.29
2052	16.74	14.72	-2.02	----	0.19	1.49	1.30
2053	16.77	14.75	-2.02	----	0.20	1.52	1.32
2054	16.80	14.78	-2.03	----	0.21	1.54	1.33
2055	16.85	14.80	-2.05	----	0.23	1.56	1.34
2056	16.90	14.83	-2.07	----	0.24	1.59	1.34
2057	16.95	14.85	-2.10	----	0.26	1.61	1.35
2058	17.01	14.88	-2.13	----	0.27	1.63	1.36
2059	17.07	14.90	-2.17	----	0.29	1.65	1.37
2060	17.13	14.93	-2.20	----	0.30	1.67	1.37
2061	17.19	14.95	-2.24	----	0.32	1.69	1.38
2062	17.25	14.97	-2.28	----	0.33	1.71	1.38
2063	17.31	14.99	-2.32	----	0.34	1.73	1.39
2064	17.38	15.02	-2.36	----	0.36	1.75	1.39
2065	17.44	15.04	-2.40	----	0.37	1.77	1.40
2066	17.51	15.06	-2.45	----	0.39	1.79	1.40
2067	17.57	15.08	-2.49	----	0.40	1.81	1.40
2068	17.64	15.10	-2.54	----	0.42	1.82	1.41
2069	17.71	15.12	-2.58	----	0.43	1.84	1.41
2070	17.77	15.14	-2.63	----	0.45	1.86	1.41
2071	17.83	15.16	-2.67	----	0.46	1.87	1.42
2072	17.89	15.18	-2.70	----	0.47	1.89	1.42
2073	17.93	15.20	-2.74	----	0.49	1.91	1.42
2074	17.98	15.22	-2.76	----	0.50	1.92	1.42
2075	18.01	15.23	-2.78	----	0.51	1.94	1.43
2076	18.04	15.25	-2.79	----	0.52	1.95	1.43
2077	18.06	15.26	-2.79	----	0.53	1.97	1.43
2078	18.07	15.28	-2.79	----	0.54	1.98	1.44
2079	18.07	15.29	-2.78	----	0.55	1.99	1.44
2080	18.07	15.30	-2.77	----	0.56	2.01	1.44
2081	18.08	15.32	-2.76	----	0.57	2.02	1.45
2082	18.09	15.33	-2.76	----	0.58	2.03	1.45
2083	18.10	15.34	-2.76	----	0.59	2.04	1.45
2084	18.13	15.35	-2.77	----	0.60	2.06	1.46
2085	18.16	15.37	-2.79	----	0.61	2.07	1.46
2086	18.20	15.38	-2.82	----	0.62	2.08	1.46
2087	18.24	15.40	-2.85	----	0.63	2.09	1.46
2088	18.29	15.41	-2.89	----	0.64	2.10	1.47
2089	18.35	15.42	-2.93	----	0.65	2.11	1.47
2090	18.40	15.44	-2.97	----	0.66	2.13	1.47
2091	18.46	15.45	-3.01	----	0.67	2.14	1.47
2092	18.52	15.46	-3.05	----	0.67	2.15	1.47

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	16.89%	15.12%	-1.77%	2038	0.23%	1.28%	1.06%
¹ Under current law, the year of Trust Fund reserve depletion is 2034.

Based on Intermediate Assumptions of the 2017 Trustees Report.

Detailed Single Year Tables

Description of Proposed Provision: E3.17: Beginning in 2019, increase the taxable maximum by twice the rate of increase in the national Average Wage Index, but never by less than 3 percent. Provide benefit credit for earnings up to the revised taxable maximum levels.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
E3.17: Beginning in 2019, increase the taxable maximum by twice the rate of increase in the national Average Wage Index, but never by less than 3 percent. Provide benefit credit for earnings up to the revised taxable maximum levels.