Detailed Single Year Tables
Description of Proposed Provision:
B7.2: Reduce benefits by 5 percent for those newly eligible for benefits in 2024 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 |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.86 | 12.89 | -1.98 | 187 | -0.00 | -0.00 | 0.00 | ||
| 2025 | 15.03 | 12.97 | -2.05 | 168 | -0.02 | -0.00 | 0.02 | ||
| 2026 | 15.20 | 13.08 | -2.12 | 150 | -0.04 | -0.00 | 0.03 | ||
| 2027 | 15.33 | 13.09 | -2.23 | 132 | -0.05 | -0.00 | 0.05 | ||
| 2028 | 15.48 | 13.13 | -2.35 | 115 | -0.08 | -0.00 | 0.07 | ||
| 2029 | 15.61 | 13.16 | -2.46 | 98 | -0.11 | -0.00 | 0.10 | ||
| 2030 | 15.73 | 13.18 | -2.55 | 81 | -0.14 | -0.01 | 0.13 | ||
| 2031 | 15.83 | 13.20 | -2.63 | 64 | -0.17 | -0.01 | 0.17 | ||
| 2032 | 15.93 | 13.23 | -2.71 | 47 | -0.21 | -0.01 | 0.20 | ||
| 2033 | 16.02 | 13.24 | -2.78 | 30 | -0.25 | -0.01 | 0.24 | ||
| 2034 | 16.09 | 13.24 | -2.85 | 13 | -0.29 | -0.01 | 0.28 | ||
| 2035 | 16.15 | 13.25 | -2.90 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2036 | 16.19 | 13.26 | -2.94 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2037 | 16.24 | 13.26 | -2.98 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2038 | 16.26 | 13.27 | -3.00 | ---- | -0.43 | -0.02 | 0.41 | ||
| 2039 | 16.28 | 13.27 | -3.01 | ---- | -0.46 | -0.02 | 0.44 | ||
| 2040 | 16.29 | 13.27 | -3.02 | ---- | -0.50 | -0.03 | 0.47 | ||
| 2041 | 16.28 | 13.27 | -3.01 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2042 | 16.26 | 13.27 | -2.99 | ---- | -0.55 | -0.03 | 0.52 | ||
| 2043 | 16.25 | 13.27 | -2.98 | ---- | -0.58 | -0.03 | 0.55 | ||
| 2044 | 16.24 | 13.27 | -2.97 | ---- | -0.61 | -0.03 | 0.57 | ||
| 2045 | 16.23 | 13.27 | -2.96 | ---- | -0.63 | -0.03 | 0.60 | ||
| 2046 | 16.23 | 13.27 | -2.95 | ---- | -0.65 | -0.04 | 0.62 | ||
| 2047 | 16.23 | 13.28 | -2.95 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2048 | 16.23 | 13.28 | -2.95 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2049 | 16.23 | 13.28 | -2.96 | ---- | -0.72 | -0.04 | 0.68 | ||
| 2050 | 16.25 | 13.28 | -2.97 | ---- | -0.74 | -0.04 | 0.70 | ||
| 2051 | 16.26 | 13.28 | -2.98 | ---- | -0.76 | -0.04 | 0.72 | ||
| 2052 | 16.28 | 13.28 | -3.00 | ---- | -0.78 | -0.04 | 0.73 | ||
| 2053 | 16.32 | 13.29 | -3.03 | ---- | -0.79 | -0.04 | 0.75 | ||
| 2054 | 16.36 | 13.29 | -3.07 | ---- | -0.80 | -0.05 | 0.76 | ||
| 2055 | 16.41 | 13.30 | -3.12 | ---- | -0.82 | -0.05 | 0.77 | ||
| 2056 | 16.47 | 13.30 | -3.17 | ---- | -0.83 | -0.05 | 0.78 | ||
| 2057 | 16.54 | 13.31 | -3.23 | ---- | -0.84 | -0.05 | 0.79 | ||
| 2058 | 16.61 | 13.31 | -3.30 | ---- | -0.85 | -0.05 | 0.80 | ||
| 2059 | 16.68 | 13.32 | -3.36 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2060 | 16.75 | 13.32 | -3.43 | ---- | -0.86 | -0.05 | 0.82 | ||
| 2061 | 16.82 | 13.33 | -3.49 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2062 | 16.88 | 13.33 | -3.55 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2063 | 16.94 | 13.34 | -3.60 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2064 | 17.00 | 13.34 | -3.65 | ---- | -0.89 | -0.05 | 0.83 | ||
| 2065 | 17.06 | 13.35 | -3.71 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2066 | 17.11 | 13.35 | -3.76 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2067 | 17.16 | 13.36 | -3.80 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2068 | 17.21 | 13.36 | -3.85 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2069 | 17.27 | 13.37 | -3.90 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2070 | 17.32 | 13.37 | -3.95 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2071 | 17.37 | 13.37 | -4.00 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2072 | 17.42 | 13.38 | -4.04 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2073 | 17.47 | 13.38 | -4.08 | ---- | -0.92 | -0.05 | 0.86 | ||
| 2074 | 17.51 | 13.39 | -4.12 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2075 | 17.54 | 13.39 | -4.15 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2076 | 17.57 | 13.39 | -4.18 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2077 | 17.58 | 13.39 | -4.19 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2078 | 17.58 | 13.39 | -4.19 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2079 | 17.57 | 13.39 | -4.17 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2080 | 17.54 | 13.39 | -4.15 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2081 | 17.51 | 13.39 | -4.12 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2082 | 17.48 | 13.39 | -4.09 | ---- | -0.92 | -0.05 | 0.86 | ||
| 2083 | 17.43 | 13.39 | -4.04 | ---- | -0.92 | -0.05 | 0.86 | ||
| 2084 | 17.38 | 13.38 | -3.99 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2085 | 17.32 | 13.38 | -3.94 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2086 | 17.25 | 13.38 | -3.88 | ---- | -0.91 | -0.05 | 0.85 | ||
| 2087 | 17.19 | 13.37 | -3.81 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2088 | 17.12 | 13.37 | -3.75 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2089 | 17.06 | 13.36 | -3.69 | ---- | -0.90 | -0.05 | 0.84 | ||
| 2090 | 17.00 | 13.36 | -3.64 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2091 | 16.95 | 13.36 | -3.59 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2092 | 16.91 | 13.36 | -3.56 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2093 | 16.88 | 13.35 | -3.53 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2094 | 16.87 | 13.35 | -3.51 | ---- | -0.89 | -0.05 | 0.83 | ||
| 2095 | 16.86 | 13.35 | -3.51 | ---- | -0.89 | -0.05 | 0.83 | ||
| 2096 | 16.86 | 13.35 | -3.51 | ---- | -0.89 | -0.05 | 0.83 | ||
| 2097 | 16.87 | 13.35 | -3.51 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2098 | 16.88 | 13.35 | -3.53 | ---- | -0.89 | -0.05 | 0.84 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2023-2097 | 16.72% | 13.74% | -2.98% | 2034 | -0.66% | -0.04% | 0.63% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2023 Trustees Report.