Detailed Single Year Tables
Description of Proposed Provision:
E3.6: Increase the taxable maximum each year by an additional 2 percent beginning in 2022 until taxable earnings equal 90 percent of covered earnings. Do not provide benefit credit for additional earnings taxed.
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 |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.09 | 12.90 | -1.19 | 245 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.23 | 12.96 | -1.27 | 229 | 0.00 | 0.04 | 0.04 | ||
| 2023 | 14.40 | 13.02 | -1.38 | 214 | -0.00 | 0.08 | 0.08 | ||
| 2024 | 14.59 | 13.09 | -1.50 | 198 | -0.00 | 0.12 | 0.12 | ||
| 2025 | 14.78 | 13.14 | -1.64 | 182 | -0.00 | 0.16 | 0.16 | ||
| 2026 | 14.99 | 13.31 | -1.68 | 166 | -0.00 | 0.20 | 0.20 | ||
| 2027 | 15.19 | 13.37 | -1.82 | 151 | -0.00 | 0.23 | 0.24 | ||
| 2028 | 15.43 | 13.45 | -1.99 | 135 | -0.00 | 0.27 | 0.27 | ||
| 2029 | 15.63 | 13.50 | -2.13 | 121 | -0.00 | 0.31 | 0.31 | ||
| 2030 | 15.80 | 13.54 | -2.26 | 106 | -0.00 | 0.34 | 0.34 | ||
| 2031 | 15.97 | 13.59 | -2.37 | 91 | -0.00 | 0.37 | 0.37 | ||
| 2032 | 16.11 | 13.64 | -2.47 | 76 | -0.00 | 0.41 | 0.41 | ||
| 2033 | 16.23 | 13.68 | -2.55 | 61 | -0.00 | 0.44 | 0.44 | ||
| 2034 | 16.32 | 13.72 | -2.61 | 46 | -0.00 | 0.47 | 0.47 | ||
| 2035 | 16.40 | 13.75 | -2.64 | 31 | -0.00 | 0.50 | 0.50 | ||
| 2036 | 16.46 | 13.79 | -2.67 | 15 | -0.00 | 0.53 | 0.53 | ||
| 2037 | 16.52 | 13.82 | -2.69 | ---- | -0.00 | 0.56 | 0.56 | ||
| 2038 | 16.56 | 13.86 | -2.71 | ---- | -0.00 | 0.59 | 0.59 | ||
| 2039 | 16.60 | 13.89 | -2.71 | ---- | -0.00 | 0.62 | 0.62 | ||
| 2040 | 16.61 | 13.92 | -2.69 | ---- | -0.00 | 0.65 | 0.65 | ||
| 2041 | 16.61 | 13.95 | -2.66 | ---- | -0.00 | 0.67 | 0.68 | ||
| 2042 | 16.59 | 13.97 | -2.61 | ---- | -0.00 | 0.70 | 0.70 | ||
| 2043 | 16.55 | 14.00 | -2.56 | ---- | -0.00 | 0.72 | 0.73 | ||
| 2044 | 16.52 | 14.02 | -2.50 | ---- | -0.01 | 0.75 | 0.75 | ||
| 2045 | 16.48 | 14.04 | -2.44 | ---- | -0.01 | 0.77 | 0.78 | ||
| 2046 | 16.45 | 14.07 | -2.38 | ---- | -0.01 | 0.80 | 0.80 | ||
| 2047 | 16.42 | 14.09 | -2.33 | ---- | -0.01 | 0.82 | 0.83 | ||
| 2048 | 16.40 | 14.11 | -2.28 | ---- | -0.01 | 0.84 | 0.85 | ||
| 2049 | 16.38 | 14.14 | -2.24 | ---- | -0.01 | 0.87 | 0.87 | ||
| 2050 | 16.36 | 14.16 | -2.20 | ---- | -0.01 | 0.89 | 0.90 | ||
| 2051 | 16.35 | 14.18 | -2.17 | ---- | -0.01 | 0.91 | 0.92 | ||
| 2052 | 16.35 | 14.20 | -2.15 | ---- | -0.01 | 0.93 | 0.94 | ||
| 2053 | 16.36 | 14.23 | -2.13 | ---- | -0.01 | 0.95 | 0.97 | ||
| 2054 | 16.37 | 14.25 | -2.12 | ---- | -0.01 | 0.98 | 0.99 | ||
| 2055 | 16.40 | 14.27 | -2.12 | ---- | -0.01 | 1.00 | 1.01 | ||
| 2056 | 16.43 | 14.30 | -2.13 | ---- | -0.01 | 1.02 | 1.03 | ||
| 2057 | 16.47 | 14.32 | -2.15 | ---- | -0.01 | 1.04 | 1.05 | ||
| 2058 | 16.51 | 14.33 | -2.19 | ---- | -0.02 | 1.04 | 1.05 | ||
| 2059 | 16.56 | 14.33 | -2.23 | ---- | -0.02 | 1.04 | 1.05 | ||
| 2060 | 16.61 | 14.33 | -2.28 | ---- | -0.02 | 1.04 | 1.05 | ||
| 2061 | 16.66 | 14.34 | -2.32 | ---- | -0.02 | 1.04 | 1.06 | ||
| 2062 | 16.71 | 14.34 | -2.37 | ---- | -0.02 | 1.04 | 1.06 | ||
| 2063 | 16.77 | 14.35 | -2.42 | ---- | -0.02 | 1.04 | 1.06 | ||
| 2064 | 16.82 | 14.35 | -2.47 | ---- | -0.02 | 1.04 | 1.06 | ||
| 2065 | 16.87 | 14.36 | -2.52 | ---- | -0.02 | 1.04 | 1.06 | ||
| 2066 | 16.93 | 14.36 | -2.57 | ---- | -0.02 | 1.04 | 1.06 | ||
| 2067 | 16.99 | 14.37 | -2.62 | ---- | -0.02 | 1.04 | 1.07 | ||
| 2068 | 17.05 | 14.37 | -2.68 | ---- | -0.03 | 1.04 | 1.07 | ||
| 2069 | 17.11 | 14.38 | -2.73 | ---- | -0.03 | 1.04 | 1.07 | ||
| 2070 | 17.17 | 14.38 | -2.79 | ---- | -0.03 | 1.04 | 1.07 | ||
| 2071 | 17.22 | 14.38 | -2.84 | ---- | -0.03 | 1.04 | 1.07 | ||
| 2072 | 17.27 | 14.39 | -2.88 | ---- | -0.03 | 1.04 | 1.07 | ||
| 2073 | 17.32 | 14.39 | -2.92 | ---- | -0.03 | 1.04 | 1.07 | ||
| 2074 | 17.36 | 14.40 | -2.96 | ---- | -0.03 | 1.04 | 1.08 | ||
| 2075 | 17.40 | 14.40 | -3.00 | ---- | -0.03 | 1.04 | 1.08 | ||
| 2076 | 17.43 | 14.40 | -3.02 | ---- | -0.03 | 1.05 | 1.08 | ||
| 2077 | 17.44 | 14.41 | -3.04 | ---- | -0.03 | 1.05 | 1.08 | ||
| 2078 | 17.45 | 14.41 | -3.04 | ---- | -0.04 | 1.05 | 1.08 | ||
| 2079 | 17.44 | 14.41 | -3.03 | ---- | -0.04 | 1.05 | 1.08 | ||
| 2080 | 17.43 | 14.41 | -3.02 | ---- | -0.04 | 1.05 | 1.08 | ||
| 2081 | 17.41 | 14.41 | -3.00 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2082 | 17.39 | 14.41 | -2.98 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2083 | 17.36 | 14.41 | -2.96 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2084 | 17.34 | 14.41 | -2.93 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2085 | 17.32 | 14.41 | -2.91 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2086 | 17.30 | 14.40 | -2.89 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2087 | 17.29 | 14.40 | -2.88 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2088 | 17.29 | 14.40 | -2.88 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2089 | 17.29 | 14.41 | -2.89 | ---- | -0.04 | 1.05 | 1.09 | ||
| 2090 | 17.31 | 14.41 | -2.91 | ---- | -0.04 | 1.05 | 1.10 | ||
| 2091 | 17.35 | 14.41 | -2.94 | ---- | -0.04 | 1.05 | 1.10 | ||
| 2092 | 17.38 | 14.41 | -2.97 | ---- | -0.04 | 1.05 | 1.10 | ||
| 2093 | 17.43 | 14.42 | -3.01 | ---- | -0.04 | 1.05 | 1.10 | ||
| 2094 | 17.48 | 14.42 | -3.06 | ---- | -0.04 | 1.06 | 1.10 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 16.58% | 14.56% | -2.02% | 2036 | -0.02% | 0.75% | 0.76% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.