Detailed Single Year Tables
Description of Proposed Provision:
B3.14: Beginning with those newly eligible for OASDI benefits in 2022, reduce the 15 percent PIA factor by 2 percentage points per year so that it reaches 5 percent for those newly eligible in 2026 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 | 14.25 | 12.93 | -1.32 | 233 | -0.00 | -0.00 | 0.00 | ||
| 2023 | 14.43 | 12.94 | -1.49 | 217 | -0.00 | -0.00 | 0.00 | ||
| 2024 | 14.64 | 12.98 | -1.66 | 200 | -0.00 | -0.00 | 0.00 | ||
| 2025 | 14.87 | 13.00 | -1.88 | 183 | -0.01 | -0.00 | 0.01 | ||
| 2026 | 15.10 | 13.12 | -1.98 | 165 | -0.01 | -0.00 | 0.01 | ||
| 2027 | 15.33 | 13.15 | -2.18 | 148 | -0.02 | -0.00 | 0.02 | ||
| 2028 | 15.55 | 13.19 | -2.37 | 130 | -0.03 | -0.00 | 0.03 | ||
| 2029 | 15.79 | 13.22 | -2.56 | 113 | -0.04 | -0.00 | 0.04 | ||
| 2030 | 15.96 | 13.24 | -2.72 | 95 | -0.06 | -0.00 | 0.06 | ||
| 2031 | 16.10 | 13.25 | -2.85 | 77 | -0.08 | -0.00 | 0.08 | ||
| 2032 | 16.23 | 13.26 | -2.96 | 59 | -0.11 | -0.01 | 0.10 | ||
| 2033 | 16.32 | 13.27 | -3.05 | 41 | -0.13 | -0.01 | 0.13 | ||
| 2034 | 16.39 | 13.28 | -3.11 | 23 | -0.16 | -0.01 | 0.15 | ||
| 2035 | 16.44 | 13.28 | -3.16 | 5 | -0.19 | -0.01 | 0.18 | ||
| 2036 | 16.47 | 13.29 | -3.19 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2037 | 16.50 | 13.29 | -3.21 | ---- | -0.24 | -0.01 | 0.22 | ||
| 2038 | 16.52 | 13.29 | -3.23 | ---- | -0.26 | -0.01 | 0.25 | ||
| 2039 | 16.53 | 13.30 | -3.23 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2040 | 16.54 | 13.30 | -3.24 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2041 | 16.53 | 13.30 | -3.23 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2042 | 16.51 | 13.30 | -3.21 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2043 | 16.48 | 13.30 | -3.19 | ---- | -0.37 | -0.02 | 0.34 | ||
| 2044 | 16.45 | 13.30 | -3.15 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2045 | 16.42 | 13.30 | -3.12 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2046 | 16.39 | 13.29 | -3.09 | ---- | -0.41 | -0.02 | 0.39 | ||
| 2047 | 16.36 | 13.29 | -3.07 | ---- | -0.43 | -0.03 | 0.40 | ||
| 2048 | 16.35 | 13.29 | -3.05 | ---- | -0.44 | -0.03 | 0.41 | ||
| 2049 | 16.33 | 13.29 | -3.04 | ---- | -0.45 | -0.03 | 0.42 | ||
| 2050 | 16.33 | 13.30 | -3.03 | ---- | -0.46 | -0.03 | 0.43 | ||
| 2051 | 16.32 | 13.30 | -3.02 | ---- | -0.47 | -0.03 | 0.44 | ||
| 2052 | 16.33 | 13.30 | -3.03 | ---- | -0.48 | -0.03 | 0.45 | ||
| 2053 | 16.34 | 13.30 | -3.04 | ---- | -0.49 | -0.03 | 0.46 | ||
| 2054 | 16.36 | 13.30 | -3.06 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2055 | 16.39 | 13.30 | -3.08 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2056 | 16.42 | 13.31 | -3.11 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2057 | 16.46 | 13.31 | -3.15 | ---- | -0.52 | -0.03 | 0.48 | ||
| 2058 | 16.51 | 13.32 | -3.19 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2059 | 16.56 | 13.32 | -3.24 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2060 | 16.62 | 13.32 | -3.29 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2061 | 16.67 | 13.33 | -3.34 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2062 | 16.73 | 13.33 | -3.40 | ---- | -0.54 | -0.03 | 0.50 | ||
| 2063 | 16.79 | 13.34 | -3.45 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2064 | 16.85 | 13.34 | -3.51 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2065 | 16.91 | 13.35 | -3.57 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2066 | 16.98 | 13.35 | -3.63 | ---- | -0.55 | -0.03 | 0.51 | ||
| 2067 | 17.04 | 13.36 | -3.69 | ---- | -0.55 | -0.03 | 0.52 | ||
| 2068 | 17.11 | 13.36 | -3.75 | ---- | -0.55 | -0.03 | 0.52 | ||
| 2069 | 17.18 | 13.37 | -3.81 | ---- | -0.56 | -0.03 | 0.52 | ||
| 2070 | 17.25 | 13.37 | -3.87 | ---- | -0.56 | -0.03 | 0.52 | ||
| 2071 | 17.31 | 13.38 | -3.93 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2072 | 17.37 | 13.38 | -3.99 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2073 | 17.42 | 13.38 | -4.04 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2074 | 17.47 | 13.39 | -4.08 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2075 | 17.51 | 13.39 | -4.12 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2076 | 17.55 | 13.40 | -4.15 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2077 | 17.57 | 13.40 | -4.17 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2078 | 17.58 | 13.40 | -4.18 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2079 | 17.58 | 13.40 | -4.18 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2080 | 17.57 | 13.40 | -4.17 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2081 | 17.55 | 13.40 | -4.15 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2082 | 17.52 | 13.40 | -4.13 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2083 | 17.50 | 13.40 | -4.10 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2084 | 17.46 | 13.39 | -4.07 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2085 | 17.43 | 13.39 | -4.04 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2086 | 17.39 | 13.39 | -4.00 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2087 | 17.36 | 13.39 | -3.97 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2088 | 17.33 | 13.38 | -3.95 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2089 | 17.31 | 13.38 | -3.93 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2090 | 17.30 | 13.38 | -3.92 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2091 | 17.30 | 13.38 | -3.92 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2092 | 17.32 | 13.38 | -3.93 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2093 | 17.34 | 13.39 | -3.95 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2094 | 17.37 | 13.39 | -3.98 | ---- | -0.57 | -0.03 | 0.53 | ||
| 2095 | 17.41 | 13.39 | -4.02 | ---- | -0.57 | -0.03 | 0.53 | ||
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 | 16.68% | 13.83% | -2.85% | 2035 | -0.38% | -0.02% | 0.36% | ||
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.