Detailed Single Year Tables
Description of Proposed Provision:
B7.11: Beginning in January 2027, eliminate the retirement earnings test for all beneficiaries under normal retirement age, including retired workers, aged spouses, aged widow(er)s, young spouses with a child in care, young surviving spouses with a child in care, and children.
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 | 15.68 | 13.12 | -2.56 | 132 | 0.32 | 0.02 | -0.30 | ||
| 2028 | 15.71 | 13.15 | -2.56 | 113 | 0.29 | 0.02 | -0.28 | ||
| 2029 | 15.73 | 13.18 | -2.56 | 95 | 0.27 | 0.01 | -0.25 | ||
| 2030 | 15.77 | 13.19 | -2.57 | 78 | 0.24 | 0.01 | -0.22 | ||
| 2031 | 15.79 | 13.21 | -2.57 | 61 | 0.21 | 0.01 | -0.20 | ||
| 2032 | 15.79 | 13.23 | -2.56 | 45 | 0.19 | 0.01 | -0.18 | ||
| 2033 | 15.84 | 13.28 | -2.56 | 29 | 0.18 | 0.01 | -0.17 | ||
| 2034 | 15.94 | 13.29 | -2.65 | 13 | 0.17 | 0.01 | -0.16 | ||
| 2035 | 16.03 | 13.30 | -2.74 | — | 0.15 | 0.01 | -0.14 | ||
| 2036 | 16.12 | 13.30 | -2.81 | — | 0.13 | 0.01 | -0.12 | ||
| 2037 | 16.20 | 13.31 | -2.89 | — | 0.11 | 0.01 | -0.10 | ||
| 2038 | 16.26 | 13.32 | -2.94 | — | 0.08 | 0.01 | -0.08 | ||
| 2039 | 16.32 | 13.32 | -3.00 | — | 0.07 | 0.00 | -0.06 | ||
| 2040 | 16.38 | 13.33 | -3.05 | — | 0.06 | 0.00 | -0.05 | ||
| 2041 | 16.43 | 13.33 | -3.10 | — | 0.05 | 0.00 | -0.04 | ||
| 2042 | 16.47 | 13.34 | -3.14 | — | 0.04 | 0.00 | -0.04 | ||
| 2043 | 16.51 | 13.34 | -3.17 | — | 0.03 | 0.00 | -0.03 | ||
| 2044 | 16.54 | 13.34 | -3.20 | — | 0.02 | 0.00 | -0.02 | ||
| 2045 | 16.56 | 13.35 | -3.22 | — | 0.01 | 0.00 | -0.01 | ||
| 2046 | 16.59 | 13.35 | -3.24 | — | 0.00 | 0.00 | -0.00 | ||
| 2047 | 16.62 | 13.35 | -3.27 | — | -0.01 | -0.00 | 0.01 | ||
| 2048 | 16.65 | 13.35 | -3.29 | — | -0.02 | -0.00 | 0.02 | ||
| 2049 | 16.68 | 13.36 | -3.32 | — | -0.03 | -0.00 | 0.03 | ||
| 2050 | 16.72 | 13.36 | -3.36 | — | -0.03 | -0.00 | 0.03 | ||
| 2051 | 16.77 | 13.37 | -3.40 | — | -0.04 | -0.00 | 0.04 | ||
| 2052 | 16.82 | 13.37 | -3.45 | — | -0.05 | -0.00 | 0.04 | ||
| 2053 | 16.88 | 13.38 | -3.51 | — | -0.05 | -0.00 | 0.05 | ||
| 2054 | 16.95 | 13.38 | -3.56 | — | -0.06 | -0.00 | 0.05 | ||
| 2055 | 17.02 | 13.39 | -3.63 | — | -0.06 | -0.00 | 0.06 | ||
| 2056 | 17.09 | 13.39 | -3.70 | — | -0.07 | -0.00 | 0.06 | ||
| 2057 | 17.17 | 13.40 | -3.77 | — | -0.08 | -0.00 | 0.07 | ||
| 2058 | 17.25 | 13.41 | -3.84 | — | -0.09 | -0.01 | 0.08 | ||
| 2059 | 17.32 | 13.41 | -3.91 | — | -0.09 | -0.01 | 0.09 | ||
| 2060 | 17.40 | 13.42 | -3.99 | — | -0.10 | -0.01 | 0.09 | ||
| 2061 | 17.48 | 13.42 | -4.06 | — | -0.10 | -0.01 | 0.10 | ||
| 2062 | 17.55 | 13.43 | -4.12 | — | -0.10 | -0.01 | 0.10 | ||
| 2063 | 17.62 | 13.44 | -4.18 | — | -0.11 | -0.01 | 0.10 | ||
| 2064 | 17.68 | 13.44 | -4.24 | — | -0.11 | -0.01 | 0.10 | ||
| 2065 | 17.74 | 13.45 | -4.30 | — | -0.11 | -0.01 | 0.10 | ||
| 2066 | 17.81 | 13.45 | -4.35 | — | -0.11 | -0.01 | 0.10 | ||
| 2067 | 17.87 | 13.46 | -4.41 | — | -0.11 | -0.01 | 0.11 | ||
| 2068 | 17.93 | 13.46 | -4.47 | — | -0.11 | -0.01 | 0.11 | ||
| 2069 | 18.00 | 13.47 | -4.53 | — | -0.12 | -0.01 | 0.11 | ||
| 2070 | 18.07 | 13.47 | -4.60 | — | -0.12 | -0.01 | 0.11 | ||
| 2071 | 18.13 | 13.48 | -4.66 | — | -0.12 | -0.01 | 0.11 | ||
| 2072 | 18.20 | 13.48 | -4.71 | — | -0.12 | -0.01 | 0.11 | ||
| 2073 | 18.25 | 13.49 | -4.77 | — | -0.12 | -0.01 | 0.11 | ||
| 2074 | 18.31 | 13.49 | -4.81 | — | -0.13 | -0.01 | 0.12 | ||
| 2075 | 18.35 | 13.50 | -4.86 | — | -0.13 | -0.01 | 0.12 | ||
| 2076 | 18.39 | 13.50 | -4.89 | — | -0.14 | -0.01 | 0.13 | ||
| 2077 | 18.42 | 13.50 | -4.92 | — | -0.14 | -0.01 | 0.13 | ||
| 2078 | 18.45 | 13.50 | -4.94 | — | -0.14 | -0.01 | 0.13 | ||
| 2079 | 18.45 | 13.50 | -4.95 | — | -0.14 | -0.01 | 0.13 | ||
| 2080 | 18.45 | 13.51 | -4.95 | — | -0.14 | -0.01 | 0.13 | ||
| 2081 | 18.44 | 13.51 | -4.94 | — | -0.15 | -0.01 | 0.14 | ||
| 2082 | 18.42 | 13.50 | -4.92 | — | -0.15 | -0.01 | 0.14 | ||
| 2083 | 18.39 | 13.50 | -4.89 | — | -0.16 | -0.01 | 0.15 | ||
| 2084 | 18.35 | 13.50 | -4.85 | — | -0.16 | -0.01 | 0.15 | ||
| 2085 | 18.31 | 13.50 | -4.81 | — | -0.16 | -0.01 | 0.15 | ||
| 2086 | 18.26 | 13.50 | -4.76 | — | -0.16 | -0.01 | 0.15 | ||
| 2087 | 18.20 | 13.49 | -4.71 | — | -0.16 | -0.01 | 0.15 | ||
| 2088 | 18.15 | 13.49 | -4.66 | — | -0.16 | -0.01 | 0.15 | ||
| 2089 | 18.09 | 13.49 | -4.61 | — | -0.15 | -0.01 | 0.14 | ||
| 2090 | 18.04 | 13.48 | -4.56 | — | -0.15 | -0.01 | 0.14 | ||
| 2091 | 18.00 | 13.48 | -4.52 | — | -0.14 | -0.01 | 0.14 | ||
| 2092 | 17.96 | 13.48 | -4.49 | — | -0.14 | -0.01 | 0.13 | ||
| 2093 | 17.94 | 13.48 | -4.47 | — | -0.14 | -0.01 | 0.13 | ||
| 2094 | 17.93 | 13.47 | -4.46 | — | -0.14 | -0.01 | 0.13 | ||
| 2095 | 17.93 | 13.47 | -4.46 | — | -0.13 | -0.01 | 0.13 | ||
| 2096 | 17.94 | 13.48 | -4.47 | — | -0.13 | -0.01 | 0.12 | ||
| 2097 | 17.96 | 13.48 | -4.48 | — | -0.13 | -0.01 | 0.12 | ||
| 2098 | 17.99 | 13.48 | -4.51 | — | -0.13 | -0.01 | 0.12 | ||
| 2099 | 18.02 | 13.48 | -4.54 | — | -0.13 | -0.01 | 0.13 | ||
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 | 17.27% | 13.80% | -3.47% | 2034 | -0.03% | -0.00% | 0.03% | ||
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.