Detailed Single Year Tables
Description of Proposed Provision:
A2: Starting December 2022, reduce the annual COLA by 0.5 percentage point.
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 |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.36 | 12.91 | -1.45 | 215 | -0.07 | -0.00 | 0.07 | ||
| 2024 | 14.50 | 12.94 | -1.56 | 198 | -0.14 | -0.01 | 0.13 | ||
| 2025 | 14.65 | 12.95 | -1.69 | 182 | -0.21 | -0.01 | 0.20 | ||
| 2026 | 14.82 | 13.06 | -1.76 | 165 | -0.28 | -0.01 | 0.27 | ||
| 2027 | 15.01 | 13.08 | -1.93 | 149 | -0.35 | -0.02 | 0.34 | ||
| 2028 | 15.20 | 13.12 | -2.08 | 132 | -0.42 | -0.02 | 0.40 | ||
| 2029 | 15.38 | 13.14 | -2.23 | 116 | -0.49 | -0.02 | 0.47 | ||
| 2030 | 15.55 | 13.16 | -2.39 | 99 | -0.56 | -0.03 | 0.53 | ||
| 2031 | 15.66 | 13.17 | -2.49 | 83 | -0.62 | -0.03 | 0.59 | ||
| 2032 | 15.75 | 13.18 | -2.57 | 67 | -0.68 | -0.04 | 0.65 | ||
| 2033 | 15.82 | 13.19 | -2.63 | 50 | -0.74 | -0.04 | 0.70 | ||
| 2034 | 15.87 | 13.19 | -2.67 | 34 | -0.79 | -0.04 | 0.75 | ||
| 2035 | 15.90 | 13.20 | -2.70 | 17 | -0.84 | -0.04 | 0.80 | ||
| 2036 | 15.92 | 13.20 | -2.71 | 1 | -0.89 | -0.05 | 0.84 | ||
| 2037 | 15.93 | 13.21 | -2.73 | ---- | -0.93 | -0.05 | 0.88 | ||
| 2038 | 15.95 | 13.21 | -2.74 | ---- | -0.97 | -0.05 | 0.91 | ||
| 2039 | 15.95 | 13.21 | -2.74 | ---- | -1.00 | -0.05 | 0.95 | ||
| 2040 | 15.94 | 13.21 | -2.73 | ---- | -1.03 | -0.06 | 0.98 | ||
| 2041 | 15.95 | 13.22 | -2.74 | ---- | -1.07 | -0.06 | 1.01 | ||
| 2042 | 15.95 | 13.22 | -2.73 | ---- | -1.09 | -0.06 | 1.03 | ||
| 2043 | 15.93 | 13.22 | -2.71 | ---- | -1.12 | -0.06 | 1.05 | ||
| 2044 | 15.91 | 13.22 | -2.69 | ---- | -1.14 | -0.06 | 1.07 | ||
| 2045 | 15.90 | 13.22 | -2.68 | ---- | -1.15 | -0.06 | 1.09 | ||
| 2046 | 15.89 | 13.22 | -2.67 | ---- | -1.17 | -0.06 | 1.10 | ||
| 2047 | 15.89 | 13.22 | -2.68 | ---- | -1.18 | -0.07 | 1.12 | ||
| 2048 | 15.90 | 13.22 | -2.68 | ---- | -1.19 | -0.07 | 1.13 | ||
| 2049 | 15.91 | 13.22 | -2.69 | ---- | -1.20 | -0.07 | 1.14 | ||
| 2050 | 15.93 | 13.22 | -2.70 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2051 | 15.94 | 13.23 | -2.72 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2052 | 15.96 | 13.23 | -2.74 | ---- | -1.22 | -0.07 | 1.16 | ||
| 2053 | 15.99 | 13.23 | -2.76 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2054 | 16.02 | 13.23 | -2.79 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2055 | 16.06 | 13.24 | -2.82 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2056 | 16.10 | 13.24 | -2.86 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2057 | 16.14 | 13.24 | -2.90 | ---- | -1.24 | -0.07 | 1.18 | ||
| 2058 | 16.19 | 13.25 | -2.94 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2059 | 16.24 | 13.25 | -2.98 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2060 | 16.29 | 13.26 | -3.03 | ---- | -1.26 | -0.07 | 1.19 | ||
| 2061 | 16.34 | 13.26 | -3.07 | ---- | -1.27 | -0.07 | 1.19 | ||
| 2062 | 16.38 | 13.27 | -3.12 | ---- | -1.27 | -0.07 | 1.20 | ||
| 2063 | 16.42 | 13.27 | -3.16 | ---- | -1.28 | -0.07 | 1.21 | ||
| 2064 | 16.47 | 13.27 | -3.19 | ---- | -1.28 | -0.07 | 1.21 | ||
| 2065 | 16.51 | 13.28 | -3.23 | ---- | -1.29 | -0.07 | 1.22 | ||
| 2066 | 16.55 | 13.28 | -3.27 | ---- | -1.30 | -0.07 | 1.23 | ||
| 2067 | 16.60 | 13.28 | -3.31 | ---- | -1.31 | -0.07 | 1.23 | ||
| 2068 | 16.64 | 13.29 | -3.36 | ---- | -1.31 | -0.07 | 1.24 | ||
| 2069 | 16.69 | 13.29 | -3.40 | ---- | -1.32 | -0.08 | 1.25 | ||
| 2070 | 16.74 | 13.29 | -3.44 | ---- | -1.33 | -0.08 | 1.25 | ||
| 2071 | 16.78 | 13.30 | -3.49 | ---- | -1.34 | -0.08 | 1.26 | ||
| 2072 | 16.83 | 13.30 | -3.53 | ---- | -1.35 | -0.08 | 1.27 | ||
| 2073 | 16.87 | 13.30 | -3.57 | ---- | -1.35 | -0.08 | 1.28 | ||
| 2074 | 16.91 | 13.31 | -3.61 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2075 | 16.95 | 13.31 | -3.64 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2076 | 16.98 | 13.31 | -3.66 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2077 | 16.99 | 13.32 | -3.68 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2078 | 16.99 | 13.32 | -3.68 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2079 | 16.98 | 13.32 | -3.67 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2080 | 16.96 | 13.32 | -3.65 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2081 | 16.93 | 13.31 | -3.62 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2082 | 16.90 | 13.31 | -3.59 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2083 | 16.85 | 13.31 | -3.54 | ---- | -1.40 | -0.08 | 1.31 | ||
| 2084 | 16.80 | 13.31 | -3.49 | ---- | -1.40 | -0.08 | 1.32 | ||
| 2085 | 16.74 | 13.30 | -3.44 | ---- | -1.40 | -0.08 | 1.31 | ||
| 2086 | 16.68 | 13.30 | -3.38 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2087 | 16.62 | 13.30 | -3.32 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2088 | 16.55 | 13.29 | -3.25 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2089 | 16.48 | 13.29 | -3.19 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2090 | 16.43 | 13.28 | -3.14 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2091 | 16.38 | 13.28 | -3.10 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2092 | 16.35 | 13.28 | -3.07 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2093 | 16.34 | 13.28 | -3.06 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2094 | 16.33 | 13.28 | -3.05 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2095 | 16.33 | 13.28 | -3.05 | ---- | -1.37 | -0.08 | 1.30 | ||
| 2096 | 16.33 | 13.28 | -3.05 | ---- | -1.37 | -0.08 | 1.29 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 16.24% | 13.72% | -2.52% | 2036 | -1.08% | -0.06% | 1.02% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.