Table VI.F1 shows that the OASDI open-group unfunded obligation over the infinite horizon is $53.0 trillion in present value, which is $36.2 trillion larger than for the 75‑year period. The $36.2 trillion increment reflects a significant financing gap projected for OASDI for years after 2094 into perpetuity. Of course, the degree of uncertainty associated with estimates increases substantially for years further in the future.To illustrate the magnitude of the projected infinite horizon shortfall, consider that it could be eliminated with additional revenue equivalent to an immediate increase in the combined payroll tax rate from 12.4 percent to about 17.1 percent,^{1}or with cost reductions equivalent to an immediate and permanent reduction in benefits for all current and future beneficiaries by about 27 percent.

The infinite horizon unfunded obligation expressed as a share of taxable payroll is higher than in last year’s report by 0.5 percentage point, but it is higher than in last year’s report by less than 0.05 percentage point when expressed as a share of GDP. The increase as a share of taxable payroll is much larger primarily because the repeal of the ACA excise tax is projected to reduce wages and taxable payroll significantly but to have no effect on total employee compensation or on GDP. See section IV.B.6 for details regarding changes in law, data, methods, and assumptions.Table VI.F2 separates the components of the infinite horizon unfunded obligation (with the exception of General Fund reimbursements) among past, current, and future participants. The table does not separate past General Fund reimbursements among participants because there is no clear basis for attributing the reimbursements across generations.The excess of the present value of cost for past and current participants over the present value of dedicated tax income for past and current participants produces an unfunded obligation for past and current participants of $39.6 trillion. Table VI.F2 also shows an unfunded obligation of $38.9 trillion for past and current participants, including past and future General Fund reimbursements. Future participants are scheduled to pay dedicated taxes of $14.1 trillion less into the system than the cost of their scheduled benefits ($119.0 trillion of dedicated tax income as compared to $133.1 trillion of cost). The unfunded obligation for all participants through the infinite horizon thus equals $53.0 trillion.

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