Detailed Single Year Tables
Description of Proposed Provision:
B4.1: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 38, phased in over the years 2021-2025.
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 | -0.01 | -0.00 | 0.01 | ||
| 2024 | 14.63 | 12.98 | -1.66 | 200 | -0.01 | -0.00 | 0.01 | ||
| 2025 | 14.86 | 13.00 | -1.87 | 183 | -0.02 | -0.00 | 0.02 | ||
| 2026 | 15.08 | 13.12 | -1.96 | 166 | -0.03 | -0.00 | 0.03 | ||
| 2027 | 15.30 | 13.15 | -2.16 | 149 | -0.04 | -0.00 | 0.04 | ||
| 2028 | 15.53 | 13.19 | -2.34 | 131 | -0.06 | -0.00 | 0.05 | ||
| 2029 | 15.76 | 13.22 | -2.54 | 113 | -0.07 | -0.00 | 0.07 | ||
| 2030 | 15.93 | 13.24 | -2.69 | 96 | -0.09 | -0.01 | 0.09 | ||
| 2031 | 16.08 | 13.25 | -2.83 | 78 | -0.11 | -0.01 | 0.11 | ||
| 2032 | 16.20 | 13.26 | -2.94 | 60 | -0.13 | -0.01 | 0.12 | ||
| 2033 | 16.30 | 13.27 | -3.03 | 43 | -0.15 | -0.01 | 0.14 | ||
| 2034 | 16.38 | 13.28 | -3.11 | 25 | -0.17 | -0.01 | 0.16 | ||
| 2035 | 16.44 | 13.28 | -3.16 | 6 | -0.18 | -0.01 | 0.17 | ||
| 2036 | 16.49 | 13.29 | -3.20 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2037 | 16.52 | 13.29 | -3.23 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2038 | 16.56 | 13.30 | -3.26 | ---- | -0.23 | -0.01 | 0.22 | ||
| 2039 | 16.57 | 13.30 | -3.28 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2040 | 16.59 | 13.30 | -3.29 | ---- | -0.25 | -0.02 | 0.24 | ||
| 2041 | 16.59 | 13.30 | -3.29 | ---- | -0.27 | -0.02 | 0.25 | ||
| 2042 | 16.58 | 13.30 | -3.28 | ---- | -0.28 | -0.02 | 0.26 | ||
| 2043 | 16.56 | 13.30 | -3.26 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2044 | 16.53 | 13.30 | -3.23 | ---- | -0.30 | -0.02 | 0.28 | ||
| 2045 | 16.51 | 13.30 | -3.21 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2046 | 16.48 | 13.30 | -3.18 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2047 | 16.46 | 13.30 | -3.16 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2048 | 16.45 | 13.30 | -3.15 | ---- | -0.34 | -0.02 | 0.31 | ||
| 2049 | 16.44 | 13.30 | -3.14 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2050 | 16.44 | 13.30 | -3.14 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2051 | 16.44 | 13.30 | -3.13 | ---- | -0.36 | -0.02 | 0.33 | ||
| 2052 | 16.45 | 13.30 | -3.14 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2053 | 16.46 | 13.31 | -3.16 | ---- | -0.37 | -0.02 | 0.34 | ||
| 2054 | 16.49 | 13.31 | -3.18 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2055 | 16.52 | 13.31 | -3.21 | ---- | -0.38 | -0.02 | 0.35 | ||
| 2056 | 16.55 | 13.32 | -3.24 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2057 | 16.59 | 13.32 | -3.28 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2058 | 16.64 | 13.32 | -3.32 | ---- | -0.39 | -0.02 | 0.36 | ||
| 2059 | 16.70 | 13.33 | -3.37 | ---- | -0.39 | -0.02 | 0.36 | ||
| 2060 | 16.75 | 13.33 | -3.42 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2061 | 16.81 | 13.34 | -3.47 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2062 | 16.87 | 13.34 | -3.53 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2063 | 16.93 | 13.35 | -3.59 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2064 | 16.99 | 13.35 | -3.64 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2065 | 17.06 | 13.36 | -3.70 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2066 | 17.12 | 13.36 | -3.76 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2067 | 17.19 | 13.37 | -3.82 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2068 | 17.26 | 13.37 | -3.89 | ---- | -0.40 | -0.03 | 0.38 | ||
| 2069 | 17.33 | 13.38 | -3.95 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2070 | 17.40 | 13.38 | -4.02 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2071 | 17.46 | 13.38 | -4.07 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2072 | 17.52 | 13.39 | -4.13 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2073 | 17.57 | 13.39 | -4.18 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2074 | 17.62 | 13.40 | -4.22 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2075 | 17.66 | 13.40 | -4.26 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2076 | 17.70 | 13.40 | -4.29 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2077 | 17.72 | 13.41 | -4.32 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2078 | 17.73 | 13.41 | -4.33 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2079 | 17.73 | 13.41 | -4.32 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2080 | 17.72 | 13.41 | -4.31 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2081 | 17.70 | 13.41 | -4.30 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2082 | 17.68 | 13.41 | -4.27 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2083 | 17.65 | 13.40 | -4.25 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2084 | 17.62 | 13.40 | -4.22 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2085 | 17.58 | 13.40 | -4.18 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2086 | 17.55 | 13.40 | -4.15 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2087 | 17.51 | 13.40 | -4.12 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2088 | 17.49 | 13.39 | -4.09 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2089 | 17.47 | 13.39 | -4.08 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2090 | 17.46 | 13.39 | -4.07 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2091 | 17.46 | 13.39 | -4.07 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2092 | 17.47 | 13.39 | -4.08 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2093 | 17.50 | 13.39 | -4.10 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2094 | 17.53 | 13.40 | -4.13 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2095 | 17.57 | 13.40 | -4.17 | ---- | -0.41 | -0.03 | 0.38 | ||
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 | 16.77% | 13.83% | -2.94% | 2035 | -0.29% | -0.02% | 0.28% | ||
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.