Description of Proposed Provision:
B7.9: Beginning for newly eligible retired workers and spouses in 2025, all claimants who are married would receive a specified joint-and-survivor annuity benefit (i.e., surviving spouses would receive 75 percent of the decedents' benefits, in addition to their own) that would be payable if both were still alive. Initial benefits would be actuarially adjusted to keep the expected value of benefits equivalent to what would otherwise be current law.

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
201813.8112.64-1.17
288
0.000.000.00
201913.9512.87-1.08
272
0.000.000.00
202014.1212.89-1.23
256
0.000.000.00
202114.2712.92-1.35
239
0.000.000.00
202214.4412.95-1.49
223
0.000.000.00
202314.6212.97-1.66
206
0.000.000.00
202414.8012.99-1.81
188
0.000.000.00
202514.9713.01-1.97
171
-0.01-0.000.01
202615.1213.13-1.99
154
-0.03-0.000.03
202715.2613.15-2.12
138
-0.10-0.010.09
202815.4213.16-2.26
123
-0.16-0.010.15
202915.5713.18-2.39
107
-0.22-0.010.21
203015.7013.19-2.52
91
-0.28-0.020.26
203115.8313.20-2.63
75
-0.33-0.020.31
203215.9513.21-2.74
59
-0.37-0.020.35
203316.0613.22-2.84
43
-0.39-0.020.37
203416.1513.22-2.93
26
-0.41-0.020.39
203516.2213.23-2.99
8
-0.43-0.020.40
203616.2913.23-3.05
----
-0.43-0.030.41
203716.3513.24-3.11
----
-0.43-0.030.41
203816.4013.25-3.15
----
-0.42-0.020.40
203916.4313.25-3.18
----
-0.40-0.020.38
204016.4513.25-3.20
----
-0.38-0.020.35
204116.4713.25-3.21
----
-0.34-0.020.32
204216.4713.25-3.22
----
-0.30-0.020.29
204316.4713.26-3.22
----
-0.26-0.020.25
204416.4713.26-3.22
----
-0.22-0.010.21
204516.4913.26-3.23
----
-0.17-0.010.16
204616.5013.26-3.24
----
-0.13-0.010.12
204716.5213.26-3.25
----
-0.09-0.010.08
204816.5413.27-3.27
----
-0.04-0.000.04
204916.5613.27-3.29
----
0.000.00-0.00
205016.5813.27-3.31
----
0.040.00-0.04
205116.6113.27-3.34
----
0.080.00-0.07
205216.6413.28-3.36
----
0.110.01-0.10
205316.6713.28-3.40
----
0.130.01-0.12
205416.7113.28-3.43
----
0.150.01-0.14
205516.7513.29-3.46
----
0.160.01-0.15
205616.7913.29-3.50
----
0.160.01-0.15
205716.8313.29-3.54
----
0.160.01-0.15
205816.8813.30-3.58
----
0.170.01-0.16
205916.9313.30-3.63
----
0.170.01-0.16
206016.9813.31-3.67
----
0.170.01-0.16
206117.0313.31-3.72
----
0.170.01-0.16
206217.0813.31-3.77
----
0.170.01-0.16
206317.1413.32-3.82
----
0.180.01-0.17
206417.2013.32-3.87
----
0.180.01-0.17
206517.2513.33-3.93
----
0.180.01-0.17
206617.3113.33-3.98
----
0.190.01-0.18
206717.3813.33-4.04
----
0.190.01-0.18
206817.4413.34-4.10
----
0.200.01-0.19
206917.5113.34-4.16
----
0.200.01-0.19
207017.5713.35-4.22
----
0.210.01-0.20
207117.6313.35-4.28
----
0.210.01-0.20
207217.6913.36-4.33
----
0.220.01-0.20
207317.7313.36-4.37
----
0.220.01-0.21
207417.7813.36-4.41
----
0.220.01-0.21
207517.8113.37-4.45
----
0.230.01-0.21
207617.8413.37-4.47
----
0.230.01-0.22
207717.8613.37-4.49
----
0.240.01-0.22
207817.8713.37-4.50
----
0.240.01-0.23
207917.8713.37-4.50
----
0.250.02-0.23
208017.8613.37-4.49
----
0.250.02-0.24
208117.8513.37-4.48
----
0.260.02-0.24
208217.8413.37-4.47
----
0.260.02-0.25
208317.8213.37-4.45
----
0.270.02-0.25
208417.8113.37-4.44
----
0.270.02-0.25
208517.8013.37-4.44
----
0.270.02-0.26
208617.8013.37-4.44
----
0.280.02-0.26
208717.8113.37-4.44
----
0.280.02-0.26
208817.8213.37-4.45
----
0.270.02-0.26
208917.8413.37-4.47
----
0.270.02-0.25
209017.8713.37-4.49
----
0.270.02-0.25
209117.9013.37-4.53
----
0.260.02-0.25
209217.9413.38-4.56
----
0.260.02-0.24
209317.9813.38-4.60
----
0.250.02-0.24


Summarized Estimates

  Proposal   Change from Current Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
2018-2092 16.68% 13.84% -2.84%
2035
-0.00% -0.00% 0.00%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2018 Trustees Report.