Description of Proposed Provision:
F1: Starting in 2019, cover newly hired State and local government employees.
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 |
|||
| 2018 | 13.81 | 12.64 | -1.17 | 288 | 0.00 | 0.00 | 0.00 | ||
| 2019 | 13.95 | 12.90 | -1.06 | 272 | 0.00 | 0.03 | 0.03 | ||
| 2020 | 14.12 | 12.95 | -1.17 | 256 | -0.00 | 0.06 | 0.06 | ||
| 2021 | 14.27 | 13.01 | -1.26 | 240 | 0.00 | 0.09 | 0.09 | ||
| 2022 | 14.44 | 13.07 | -1.37 | 224 | 0.00 | 0.12 | 0.12 | ||
| 2023 | 14.62 | 13.11 | -1.51 | 207 | 0.00 | 0.15 | 0.15 | ||
| 2024 | 14.80 | 13.16 | -1.64 | 191 | 0.00 | 0.17 | 0.17 | ||
| 2025 | 14.98 | 13.20 | -1.79 | 175 | 0.00 | 0.19 | 0.19 | ||
| 2026 | 15.16 | 13.34 | -1.82 | 159 | 0.00 | 0.21 | 0.21 | ||
| 2027 | 15.37 | 13.38 | -1.99 | 143 | 0.00 | 0.23 | 0.22 | ||
| 2028 | 15.59 | 13.41 | -2.17 | 128 | 0.01 | 0.24 | 0.24 | ||
| 2029 | 15.80 | 13.45 | -2.35 | 112 | 0.01 | 0.26 | 0.25 | ||
| 2030 | 15.99 | 13.48 | -2.52 | 97 | 0.01 | 0.27 | 0.26 | ||
| 2031 | 16.17 | 13.50 | -2.67 | 81 | 0.01 | 0.29 | 0.27 | ||
| 2032 | 16.33 | 13.53 | -2.80 | 64 | 0.02 | 0.30 | 0.29 | ||
| 2033 | 16.47 | 13.55 | -2.92 | 48 | 0.02 | 0.31 | 0.30 | ||
| 2034 | 16.59 | 13.57 | -3.01 | 31 | 0.02 | 0.33 | 0.31 | ||
| 2035 | 16.68 | 13.59 | -3.08 | 13 | 0.02 | 0.34 | 0.31 | ||
| 2036 | 16.75 | 13.61 | -3.14 | ---- | 0.03 | 0.35 | 0.32 | ||
| 2037 | 16.82 | 13.63 | -3.19 | ---- | 0.03 | 0.36 | 0.33 | ||
| 2038 | 16.86 | 13.64 | -3.21 | ---- | 0.04 | 0.37 | 0.34 | ||
| 2039 | 16.87 | 13.66 | -3.22 | ---- | 0.04 | 0.38 | 0.34 | ||
| 2040 | 16.88 | 13.67 | -3.21 | ---- | 0.05 | 0.40 | 0.35 | ||
| 2041 | 16.86 | 13.68 | -3.18 | ---- | 0.05 | 0.41 | 0.35 | ||
| 2042 | 16.83 | 13.69 | -3.14 | ---- | 0.06 | 0.42 | 0.36 | ||
| 2043 | 16.80 | 13.70 | -3.10 | ---- | 0.06 | 0.43 | 0.36 | ||
| 2044 | 16.77 | 13.71 | -3.06 | ---- | 0.07 | 0.44 | 0.37 | ||
| 2045 | 16.74 | 13.72 | -3.02 | ---- | 0.08 | 0.45 | 0.37 | ||
| 2046 | 16.72 | 13.73 | -2.99 | ---- | 0.09 | 0.46 | 0.37 | ||
| 2047 | 16.70 | 13.74 | -2.96 | ---- | 0.10 | 0.47 | 0.37 | ||
| 2048 | 16.69 | 13.75 | -2.94 | ---- | 0.11 | 0.48 | 0.37 | ||
| 2049 | 16.68 | 13.77 | -2.91 | ---- | 0.12 | 0.50 | 0.38 | ||
| 2050 | 16.68 | 13.77 | -2.91 | ---- | 0.14 | 0.50 | 0.37 | ||
| 2051 | 16.69 | 13.77 | -2.91 | ---- | 0.15 | 0.51 | 0.35 | ||
| 2052 | 16.70 | 13.78 | -2.92 | ---- | 0.16 | 0.51 | 0.34 | ||
| 2053 | 16.72 | 13.78 | -2.94 | ---- | 0.18 | 0.51 | 0.33 | ||
| 2054 | 16.76 | 13.78 | -2.97 | ---- | 0.19 | 0.51 | 0.31 | ||
| 2055 | 16.80 | 13.79 | -3.02 | ---- | 0.21 | 0.51 | 0.30 | ||
| 2056 | 16.86 | 13.79 | -3.07 | ---- | 0.23 | 0.51 | 0.28 | ||
| 2057 | 16.91 | 13.79 | -3.12 | ---- | 0.25 | 0.51 | 0.26 | ||
| 2058 | 16.98 | 13.80 | -3.18 | ---- | 0.26 | 0.51 | 0.25 | ||
| 2059 | 17.04 | 13.80 | -3.24 | ---- | 0.28 | 0.51 | 0.23 | ||
| 2060 | 17.11 | 13.81 | -3.31 | ---- | 0.31 | 0.51 | 0.21 | ||
| 2061 | 17.19 | 13.82 | -3.37 | ---- | 0.33 | 0.52 | 0.19 | ||
| 2062 | 17.26 | 13.82 | -3.44 | ---- | 0.35 | 0.52 | 0.17 | ||
| 2063 | 17.33 | 13.83 | -3.50 | ---- | 0.36 | 0.52 | 0.15 | ||
| 2064 | 17.40 | 13.83 | -3.57 | ---- | 0.39 | 0.52 | 0.13 | ||
| 2065 | 17.47 | 13.84 | -3.64 | ---- | 0.41 | 0.52 | 0.11 | ||
| 2066 | 17.55 | 13.84 | -3.71 | ---- | 0.43 | 0.52 | 0.10 | ||
| 2067 | 17.63 | 13.85 | -3.78 | ---- | 0.44 | 0.52 | 0.08 | ||
| 2068 | 17.70 | 13.85 | -3.85 | ---- | 0.46 | 0.52 | 0.06 | ||
| 2069 | 17.79 | 13.86 | -3.93 | ---- | 0.48 | 0.53 | 0.04 | ||
| 2070 | 17.86 | 13.86 | -4.00 | ---- | 0.50 | 0.53 | 0.03 | ||
| 2071 | 17.94 | 13.87 | -4.07 | ---- | 0.52 | 0.53 | 0.01 | ||
| 2072 | 18.00 | 13.87 | -4.13 | ---- | 0.53 | 0.53 | -0.00 | ||
| 2073 | 18.06 | 13.87 | -4.19 | ---- | 0.55 | 0.53 | -0.02 | ||
| 2074 | 18.12 | 13.88 | -4.24 | ---- | 0.56 | 0.53 | -0.03 | ||
| 2075 | 18.16 | 13.88 | -4.28 | ---- | 0.58 | 0.53 | -0.05 | ||
| 2076 | 18.20 | 13.89 | -4.31 | ---- | 0.59 | 0.53 | -0.06 | ||
| 2077 | 18.22 | 13.89 | -4.34 | ---- | 0.60 | 0.53 | -0.07 | ||
| 2078 | 18.24 | 13.89 | -4.35 | ---- | 0.61 | 0.53 | -0.08 | ||
| 2079 | 18.24 | 13.89 | -4.35 | ---- | 0.62 | 0.53 | -0.09 | ||
| 2080 | 18.24 | 13.89 | -4.35 | ---- | 0.63 | 0.53 | -0.10 | ||
| 2081 | 18.23 | 13.89 | -4.34 | ---- | 0.64 | 0.53 | -0.11 | ||
| 2082 | 18.22 | 13.89 | -4.33 | ---- | 0.65 | 0.53 | -0.11 | ||
| 2083 | 18.21 | 13.89 | -4.32 | ---- | 0.65 | 0.53 | -0.12 | ||
| 2084 | 18.20 | 13.89 | -4.32 | ---- | 0.66 | 0.53 | -0.13 | ||
| 2085 | 18.20 | 13.89 | -4.31 | ---- | 0.67 | 0.53 | -0.13 | ||
| 2086 | 18.20 | 13.89 | -4.31 | ---- | 0.67 | 0.53 | -0.14 | ||
| 2087 | 18.21 | 13.89 | -4.32 | ---- | 0.68 | 0.54 | -0.14 | ||
| 2088 | 18.23 | 13.89 | -4.34 | ---- | 0.68 | 0.54 | -0.15 | ||
| 2089 | 18.26 | 13.89 | -4.37 | ---- | 0.69 | 0.54 | -0.15 | ||
| 2090 | 18.29 | 13.89 | -4.40 | ---- | 0.69 | 0.54 | -0.16 | ||
| 2091 | 18.33 | 13.89 | -4.44 | ---- | 0.70 | 0.54 | -0.16 | ||
| 2092 | 18.38 | 13.90 | -4.48 | ---- | 0.70 | 0.54 | -0.16 | ||
| 2093 | 18.43 | 13.90 | -4.53 | ---- | 0.70 | 0.54 | -0.17 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2018-2092 | 16.93% | 14.25% | -2.68% | 2035 | 0.24% | 0.41% | 0.16% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2018 Trustees Report.