Detailed Single Year Tables
Description of Proposed Provision:
E3.6: Increase the taxable maximum each year by an additional 2 percent beginning in 2025 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 |
|||
| 2022 | 14.05 | 12.79 | -1.26 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.31 | 13.04 | -1.27 | 211 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.45 | 12.95 | -1.49 | 194 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.66 | 13.01 | -1.64 | 177 | 0.00 | 0.04 | 0.04 | ||
| 2026 | 14.88 | 13.17 | -1.72 | 160 | -0.00 | 0.09 | 0.09 | ||
| 2027 | 15.10 | 13.23 | -1.87 | 144 | -0.00 | 0.13 | 0.13 | ||
| 2028 | 15.33 | 13.31 | -2.01 | 127 | -0.00 | 0.17 | 0.17 | ||
| 2029 | 15.53 | 13.38 | -2.14 | 111 | -0.00 | 0.21 | 0.21 | ||
| 2030 | 15.72 | 13.45 | -2.27 | 95 | -0.00 | 0.25 | 0.25 | ||
| 2031 | 15.90 | 13.52 | -2.39 | 80 | -0.00 | 0.29 | 0.29 | ||
| 2032 | 16.07 | 13.57 | -2.49 | 64 | -0.00 | 0.33 | 0.33 | ||
| 2033 | 16.20 | 13.62 | -2.59 | 48 | -0.00 | 0.36 | 0.36 | ||
| 2034 | 16.32 | 13.66 | -2.66 | 32 | -0.00 | 0.39 | 0.40 | ||
| 2035 | 16.42 | 13.71 | -2.71 | 17 | -0.00 | 0.43 | 0.44 | ||
| 2036 | 16.50 | 13.75 | -2.75 | 0 | -0.00 | 0.47 | 0.47 | ||
| 2037 | 16.57 | 13.79 | -2.78 | ---- | -0.00 | 0.50 | 0.51 | ||
| 2038 | 16.63 | 13.83 | -2.81 | ---- | -0.00 | 0.54 | 0.54 | ||
| 2039 | 16.68 | 13.86 | -2.82 | ---- | -0.01 | 0.57 | 0.57 | ||
| 2040 | 16.71 | 13.90 | -2.81 | ---- | -0.01 | 0.60 | 0.61 | ||
| 2041 | 16.73 | 13.93 | -2.80 | ---- | -0.01 | 0.63 | 0.64 | ||
| 2042 | 16.76 | 13.96 | -2.79 | ---- | -0.01 | 0.66 | 0.67 | ||
| 2043 | 16.77 | 14.00 | -2.78 | ---- | -0.01 | 0.69 | 0.70 | ||
| 2044 | 16.79 | 14.03 | -2.77 | ---- | -0.01 | 0.72 | 0.73 | ||
| 2045 | 16.81 | 14.06 | -2.75 | ---- | -0.01 | 0.75 | 0.76 | ||
| 2046 | 16.83 | 14.08 | -2.74 | ---- | -0.01 | 0.77 | 0.79 | ||
| 2047 | 16.85 | 14.11 | -2.74 | ---- | -0.01 | 0.80 | 0.82 | ||
| 2048 | 16.87 | 14.14 | -2.73 | ---- | -0.01 | 0.83 | 0.84 | ||
| 2049 | 16.90 | 14.17 | -2.73 | ---- | -0.02 | 0.86 | 0.87 | ||
| 2050 | 16.93 | 14.20 | -2.73 | ---- | -0.02 | 0.88 | 0.90 | ||
| 2051 | 16.96 | 14.22 | -2.74 | ---- | -0.02 | 0.90 | 0.92 | ||
| 2052 | 16.99 | 14.25 | -2.74 | ---- | -0.02 | 0.93 | 0.95 | ||
| 2053 | 17.03 | 14.28 | -2.75 | ---- | -0.02 | 0.95 | 0.97 | ||
| 2054 | 17.08 | 14.31 | -2.77 | ---- | -0.02 | 0.98 | 1.00 | ||
| 2055 | 17.13 | 14.33 | -2.79 | ---- | -0.02 | 1.00 | 1.02 | ||
| 2056 | 17.18 | 14.36 | -2.82 | ---- | -0.02 | 1.02 | 1.04 | ||
| 2057 | 17.24 | 14.39 | -2.85 | ---- | -0.02 | 1.05 | 1.07 | ||
| 2058 | 17.30 | 14.42 | -2.88 | ---- | -0.02 | 1.07 | 1.09 | ||
| 2059 | 17.36 | 14.44 | -2.92 | ---- | -0.03 | 1.09 | 1.11 | ||
| 2060 | 17.43 | 14.47 | -2.96 | ---- | -0.03 | 1.11 | 1.14 | ||
| 2061 | 17.49 | 14.49 | -2.99 | ---- | -0.03 | 1.13 | 1.15 | ||
| 2062 | 17.54 | 14.50 | -3.04 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2063 | 17.60 | 14.50 | -3.09 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2064 | 17.65 | 14.51 | -3.14 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2065 | 17.70 | 14.51 | -3.19 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2066 | 17.75 | 14.52 | -3.23 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2067 | 17.80 | 14.52 | -3.28 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2068 | 17.86 | 14.53 | -3.33 | ---- | -0.03 | 1.13 | 1.16 | ||
| 2069 | 17.91 | 14.53 | -3.38 | ---- | -0.03 | 1.13 | 1.17 | ||
| 2070 | 17.97 | 14.54 | -3.43 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2071 | 18.03 | 14.54 | -3.48 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2072 | 18.08 | 14.55 | -3.53 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2073 | 18.13 | 14.55 | -3.58 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2074 | 18.18 | 14.56 | -3.62 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2075 | 18.22 | 14.56 | -3.66 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2076 | 18.26 | 14.57 | -3.69 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2077 | 18.28 | 14.57 | -3.71 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2078 | 18.29 | 14.57 | -3.72 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2079 | 18.28 | 14.57 | -3.71 | ---- | -0.03 | 1.14 | 1.17 | ||
| 2080 | 18.27 | 14.57 | -3.70 | ---- | -0.03 | 1.14 | 1.18 | ||
| 2081 | 18.24 | 14.57 | -3.67 | ---- | -0.03 | 1.14 | 1.18 | ||
| 2082 | 18.21 | 14.57 | -3.64 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2083 | 18.17 | 14.57 | -3.60 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2084 | 18.13 | 14.57 | -3.56 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2085 | 18.07 | 14.56 | -3.51 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2086 | 18.02 | 14.56 | -3.45 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2087 | 17.95 | 14.56 | -3.39 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2088 | 17.88 | 14.55 | -3.33 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2089 | 17.82 | 14.55 | -3.27 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2090 | 17.76 | 14.55 | -3.21 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2091 | 17.71 | 14.55 | -3.17 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2092 | 17.67 | 14.54 | -3.13 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2093 | 17.64 | 14.54 | -3.10 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2094 | 17.62 | 14.54 | -3.08 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2095 | 17.61 | 14.54 | -3.07 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2096 | 17.61 | 14.54 | -3.07 | ---- | -0.03 | 1.15 | 1.18 | ||
| 2097 | 17.62 | 14.54 | -3.07 | ---- | -0.03 | 1.15 | 1.18 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2022-2096 | 17.18% | 14.59% | -2.59% | 2036 | -0.02% | 0.81% | 0.83% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2022 Trustees Report.