Detailed Single Year Tables
Description of Proposed Provision:
B7.12: Provide an option to split the 8-percent delayed retirement credit (DRC) to offer a lump sum benefit at initial entitlement equal to 2 percent of the 8 percent DRC earned, and a 6 percent DRC on subsequent monthly benefits, effective for workers newly entitled to retired worker benefits in 2027 and later. Widows are held harmless from the lump-sum decision.
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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.20 | 13.07 | -2.13 | 152 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.43 | 13.11 | -2.32 | 134 | 0.07 | 0.00 | -0.06 | ||
| 2028 | 15.48 | 13.14 | -2.34 | 116 | 0.06 | 0.00 | -0.06 | ||
| 2029 | 15.52 | 13.16 | -2.36 | 100 | 0.05 | 0.00 | -0.05 | ||
| 2030 | 15.57 | 13.18 | -2.39 | 83 | 0.05 | 0.00 | -0.04 | ||
| 2031 | 15.62 | 13.20 | -2.41 | 67 | 0.04 | 0.00 | -0.04 | ||
| 2032 | 15.64 | 13.22 | -2.42 | 51 | 0.04 | 0.00 | -0.03 | ||
| 2033 | 15.69 | 13.27 | -2.43 | 36 | 0.03 | 0.00 | -0.03 | ||
| 2034 | 15.80 | 13.28 | -2.52 | 20 | 0.03 | 0.00 | -0.03 | ||
| 2035 | 15.91 | 13.29 | -2.62 | 5 | 0.02 | 0.00 | -0.02 | ||
| 2036 | 16.01 | 13.30 | -2.71 | — | 0.02 | 0.00 | -0.02 | ||
| 2037 | 16.11 | 13.31 | -2.80 | — | 0.02 | 0.00 | -0.02 | ||
| 2038 | 16.19 | 13.31 | -2.88 | — | 0.02 | 0.00 | -0.01 | ||
| 2039 | 16.27 | 13.32 | -2.95 | — | 0.02 | 0.00 | -0.01 | ||
| 2040 | 16.33 | 13.33 | -3.01 | — | 0.01 | 0.00 | -0.01 | ||
| 2041 | 16.39 | 13.33 | -3.06 | — | 0.01 | 0.00 | -0.01 | ||
| 2042 | 16.44 | 13.33 | -3.10 | — | 0.00 | 0.00 | -0.00 | ||
| 2043 | 16.48 | 13.34 | -3.14 | — | 0.00 | 0.00 | -0.00 | ||
| 2044 | 16.52 | 13.34 | -3.18 | — | 0.00 | 0.00 | -0.00 | ||
| 2045 | 16.55 | 13.34 | -3.21 | — | -0.00 | -0.00 | 0.00 | ||
| 2046 | 16.59 | 13.35 | -3.24 | — | -0.00 | -0.00 | 0.00 | ||
| 2047 | 16.62 | 13.35 | -3.27 | — | -0.00 | -0.00 | 0.00 | ||
| 2048 | 16.66 | 13.36 | -3.31 | — | -0.00 | -0.00 | 0.00 | ||
| 2049 | 16.71 | 13.36 | -3.35 | — | 0.00 | 0.00 | -0.00 | ||
| 2050 | 16.76 | 13.36 | -3.40 | — | 0.00 | 0.00 | -0.00 | ||
| 2051 | 16.81 | 13.37 | -3.44 | — | 0.00 | 0.00 | -0.00 | ||
| 2052 | 16.87 | 13.37 | -3.50 | — | 0.00 | 0.00 | -0.00 | ||
| 2053 | 16.93 | 13.38 | -3.55 | — | -0.00 | -0.00 | 0.00 | ||
| 2054 | 17.00 | 13.38 | -3.62 | — | -0.00 | -0.00 | 0.00 | ||
| 2055 | 17.08 | 13.39 | -3.69 | — | 0.00 | 0.00 | -0.00 | ||
| 2056 | 17.16 | 13.40 | -3.76 | — | -0.00 | -0.00 | 0.00 | ||
| 2057 | 17.24 | 13.40 | -3.84 | — | 0.00 | 0.00 | -0.00 | ||
| 2058 | 17.33 | 13.41 | -3.92 | — | 0.00 | 0.00 | -0.00 | ||
| 2059 | 17.42 | 13.42 | -4.00 | — | 0.00 | 0.00 | -0.00 | ||
| 2060 | 17.51 | 13.43 | -4.08 | — | 0.00 | 0.00 | -0.00 | ||
| 2061 | 17.58 | 13.43 | -4.15 | — | 0.00 | 0.00 | -0.00 | ||
| 2062 | 17.66 | 13.44 | -4.22 | — | 0.00 | 0.00 | -0.00 | ||
| 2063 | 17.72 | 13.44 | -4.28 | — | -0.00 | -0.00 | 0.00 | ||
| 2064 | 17.79 | 13.45 | -4.34 | — | -0.00 | -0.00 | 0.00 | ||
| 2065 | 17.85 | 13.45 | -4.40 | — | -0.00 | -0.00 | 0.00 | ||
| 2066 | 17.91 | 13.46 | -4.45 | — | -0.00 | -0.00 | 0.00 | ||
| 2067 | 17.98 | 13.46 | -4.51 | — | -0.01 | -0.00 | 0.01 | ||
| 2068 | 18.04 | 13.47 | -4.57 | — | -0.00 | -0.00 | 0.00 | ||
| 2069 | 18.11 | 13.47 | -4.64 | — | -0.01 | -0.00 | 0.00 | ||
| 2070 | 18.18 | 13.48 | -4.70 | — | -0.00 | -0.00 | 0.00 | ||
| 2071 | 18.25 | 13.48 | -4.76 | — | -0.01 | -0.00 | 0.01 | ||
| 2072 | 18.31 | 13.49 | -4.82 | — | -0.01 | -0.00 | 0.01 | ||
| 2073 | 18.37 | 13.49 | -4.88 | — | -0.01 | -0.00 | 0.00 | ||
| 2074 | 18.43 | 13.50 | -4.93 | — | -0.00 | -0.00 | 0.00 | ||
| 2075 | 18.48 | 13.50 | -4.98 | — | -0.00 | -0.00 | 0.00 | ||
| 2076 | 18.52 | 13.51 | -5.02 | — | -0.00 | -0.00 | 0.00 | ||
| 2077 | 18.56 | 13.51 | -5.05 | — | -0.00 | -0.00 | 0.00 | ||
| 2078 | 18.58 | 13.51 | -5.07 | — | -0.00 | -0.00 | 0.00 | ||
| 2079 | 18.59 | 13.51 | -5.07 | — | -0.01 | -0.00 | 0.01 | ||
| 2080 | 18.59 | 13.51 | -5.07 | — | -0.01 | -0.00 | 0.01 | ||
| 2081 | 18.58 | 13.51 | -5.07 | — | -0.01 | -0.00 | 0.01 | ||
| 2082 | 18.56 | 13.51 | -5.05 | — | -0.01 | -0.00 | 0.01 | ||
| 2083 | 18.54 | 13.51 | -5.03 | — | -0.01 | -0.00 | 0.01 | ||
| 2084 | 18.51 | 13.51 | -4.99 | — | -0.01 | -0.00 | 0.01 | ||
| 2085 | 18.46 | 13.51 | -4.95 | — | -0.01 | -0.00 | 0.01 | ||
| 2086 | 18.41 | 13.51 | -4.91 | — | -0.01 | -0.00 | 0.01 | ||
| 2087 | 18.35 | 13.50 | -4.85 | — | -0.01 | -0.00 | 0.01 | ||
| 2088 | 18.29 | 13.50 | -4.79 | — | -0.01 | -0.00 | 0.01 | ||
| 2089 | 18.23 | 13.49 | -4.74 | — | -0.01 | -0.00 | 0.01 | ||
| 2090 | 18.18 | 13.49 | -4.69 | — | -0.01 | -0.00 | 0.01 | ||
| 2091 | 18.13 | 13.49 | -4.64 | — | -0.01 | -0.00 | 0.01 | ||
| 2092 | 18.09 | 13.49 | -4.61 | — | -0.01 | -0.00 | 0.01 | ||
| 2093 | 18.07 | 13.48 | -4.59 | — | -0.01 | -0.00 | 0.01 | ||
| 2094 | 18.06 | 13.48 | -4.58 | — | -0.01 | -0.00 | 0.01 | ||
| 2095 | 18.06 | 13.48 | -4.58 | — | -0.01 | -0.00 | 0.01 | ||
| 2096 | 18.07 | 13.48 | -4.59 | — | -0.01 | -0.00 | 0.01 | ||
| 2097 | 18.09 | 13.49 | -4.60 | — | -0.01 | -0.00 | 0.01 | ||
| 2098 | 18.12 | 13.49 | -4.63 | — | -0.00 | -0.00 | 0.00 | ||
| 2099 | 18.16 | 13.49 | -4.67 | — | -0.00 | -0.00 | 0.00 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 17.30% | 13.80% | -3.50% | 2035 | 0.01% | 0.00% | -0.00% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.