Detailed Single Year Tables
Description of Proposed Provision:
B7.2: Reduce benefits by 5 percent for those newly eligible for benefits in 2021 and later.
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 |
|||
| 2020 | 13.92 | 13.00 | -0.92 | 261 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.05 | 12.90 | -1.15 | 248 | -0.00 | -0.00 | 0.00 | ||
| 2022 | 14.23 | 12.93 | -1.30 | 233 | -0.02 | -0.00 | 0.02 | ||
| 2023 | 14.40 | 12.94 | -1.46 | 217 | -0.03 | -0.00 | 0.03 | ||
| 2024 | 14.59 | 12.98 | -1.62 | 201 | -0.05 | -0.00 | 0.05 | ||
| 2025 | 14.80 | 12.99 | -1.81 | 185 | -0.08 | -0.00 | 0.08 | ||
| 2026 | 15.00 | 13.12 | -1.88 | 168 | -0.11 | -0.00 | 0.10 | ||
| 2027 | 15.20 | 13.14 | -2.06 | 151 | -0.14 | -0.01 | 0.14 | ||
| 2028 | 15.40 | 13.18 | -2.22 | 134 | -0.18 | -0.01 | 0.17 | ||
| 2029 | 15.61 | 13.22 | -2.39 | 117 | -0.22 | -0.01 | 0.21 | ||
| 2030 | 15.76 | 13.23 | -2.53 | 100 | -0.26 | -0.01 | 0.25 | ||
| 2031 | 15.88 | 13.24 | -2.64 | 84 | -0.31 | -0.02 | 0.29 | ||
| 2032 | 15.99 | 13.25 | -2.74 | 67 | -0.34 | -0.02 | 0.33 | ||
| 2033 | 16.07 | 13.26 | -2.81 | 50 | -0.38 | -0.02 | 0.36 | ||
| 2034 | 16.13 | 13.26 | -2.87 | 33 | -0.42 | -0.02 | 0.40 | ||
| 2035 | 16.18 | 13.27 | -2.91 | 16 | -0.45 | -0.02 | 0.43 | ||
| 2036 | 16.20 | 13.27 | -2.93 | ---- | -0.48 | -0.03 | 0.46 | ||
| 2037 | 16.22 | 13.28 | -2.95 | ---- | -0.51 | -0.03 | 0.49 | ||
| 2038 | 16.24 | 13.28 | -2.96 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2039 | 16.24 | 13.28 | -2.96 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2040 | 16.25 | 13.28 | -2.96 | ---- | -0.60 | -0.03 | 0.57 | ||
| 2041 | 16.24 | 13.28 | -2.95 | ---- | -0.62 | -0.03 | 0.59 | ||
| 2042 | 16.21 | 13.28 | -2.93 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2043 | 16.18 | 13.28 | -2.90 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2044 | 16.15 | 13.28 | -2.86 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2045 | 16.11 | 13.28 | -2.83 | ---- | -0.71 | -0.04 | 0.67 | ||
| 2046 | 16.08 | 13.28 | -2.80 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2047 | 16.05 | 13.28 | -2.77 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2048 | 16.03 | 13.28 | -2.75 | ---- | -0.76 | -0.04 | 0.71 | ||
| 2049 | 16.02 | 13.28 | -2.74 | ---- | -0.77 | -0.04 | 0.73 | ||
| 2050 | 16.01 | 13.28 | -2.73 | ---- | -0.78 | -0.04 | 0.74 | ||
| 2051 | 16.00 | 13.28 | -2.72 | ---- | -0.79 | -0.04 | 0.75 | ||
| 2052 | 16.01 | 13.28 | -2.73 | ---- | -0.80 | -0.04 | 0.76 | ||
| 2053 | 16.02 | 13.28 | -2.74 | ---- | -0.81 | -0.05 | 0.76 | ||
| 2054 | 16.04 | 13.29 | -2.76 | ---- | -0.82 | -0.05 | 0.77 | ||
| 2055 | 16.07 | 13.29 | -2.78 | ---- | -0.82 | -0.05 | 0.78 | ||
| 2056 | 16.10 | 13.29 | -2.81 | ---- | -0.83 | -0.05 | 0.78 | ||
| 2057 | 16.14 | 13.30 | -2.85 | ---- | -0.83 | -0.05 | 0.79 | ||
| 2058 | 16.19 | 13.30 | -2.89 | ---- | -0.84 | -0.05 | 0.79 | ||
| 2059 | 16.24 | 13.30 | -2.94 | ---- | -0.84 | -0.05 | 0.80 | ||
| 2060 | 16.30 | 13.31 | -2.99 | ---- | -0.85 | -0.05 | 0.80 | ||
| 2061 | 16.35 | 13.31 | -3.04 | ---- | -0.85 | -0.05 | 0.80 | ||
| 2062 | 16.41 | 13.32 | -3.09 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2063 | 16.47 | 13.32 | -3.15 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2064 | 16.53 | 13.33 | -3.20 | ---- | -0.86 | -0.05 | 0.82 | ||
| 2065 | 16.59 | 13.33 | -3.26 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2066 | 16.65 | 13.34 | -3.32 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2067 | 16.72 | 13.34 | -3.38 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2068 | 16.78 | 13.35 | -3.44 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2069 | 16.85 | 13.35 | -3.50 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2070 | 16.92 | 13.35 | -3.56 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2071 | 16.98 | 13.36 | -3.62 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2072 | 17.03 | 13.36 | -3.67 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2073 | 17.09 | 13.37 | -3.72 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2074 | 17.14 | 13.37 | -3.76 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2075 | 17.18 | 13.37 | -3.80 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2076 | 17.21 | 13.38 | -3.83 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2077 | 17.23 | 13.38 | -3.85 | ---- | -0.91 | -0.05 | 0.85 | ||
| 2078 | 17.25 | 13.38 | -3.86 | ---- | -0.91 | -0.05 | 0.85 | ||
| 2079 | 17.24 | 13.38 | -3.86 | ---- | -0.91 | -0.05 | 0.85 | ||
| 2080 | 17.23 | 13.38 | -3.85 | ---- | -0.91 | -0.05 | 0.85 | ||
| 2081 | 17.21 | 13.38 | -3.83 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2082 | 17.19 | 13.38 | -3.81 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2083 | 17.16 | 13.38 | -3.79 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2084 | 17.13 | 13.38 | -3.76 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2085 | 17.10 | 13.37 | -3.72 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2086 | 17.06 | 13.37 | -3.69 | ---- | -0.90 | -0.05 | 0.84 | ||
| 2087 | 17.03 | 13.37 | -3.66 | ---- | -0.90 | -0.05 | 0.84 | ||
| 2088 | 17.00 | 13.37 | -3.63 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2089 | 16.98 | 13.37 | -3.62 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2090 | 16.97 | 13.37 | -3.61 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2091 | 16.98 | 13.37 | -3.61 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2092 | 16.99 | 13.37 | -3.62 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2093 | 17.01 | 13.37 | -3.64 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2094 | 17.04 | 13.37 | -3.67 | ---- | -0.90 | -0.05 | 0.84 | ||
| 2095 | 17.08 | 13.37 | -3.70 | ---- | -0.90 | -0.05 | 0.85 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2020-2094 | 16.40% | 13.81% | -2.59% | 2035 | -0.66% | -0.04% | 0.62% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2020 Trustees Report.