Detailed Single Year Tables

Payroll Taxes (including maximum taxable)

Description of Proposed Provision:
E2.14: Apply OASDI payroll tax rate on earnings above $250,000 starting in 2019, and tax all earnings once the current-law taxable maximum exceeds $250,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2018 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 2 percent on this newly computed "AIME+".

			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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2017	13.41	13.03	-0.38	298	0.00	0.00	0.00
2018	13.49	12.93	-0.56	287	0.00	0.00	0.00
2019	13.70	14.26	0.56	273	0.00	1.31	1.31
2020	13.85	14.40	0.55	268	-0.00	1.44	1.44
2021	14.01	14.48	0.47	264	-0.00	1.49	1.50
2022	14.25	14.57	0.31	259	-0.00	1.54	1.55
2023	14.54	14.63	0.09	253	-0.00	1.59	1.59
2024	14.82	14.72	-0.11	246	-0.00	1.63	1.64
2025	15.10	14.79	-0.31	239	-0.00	1.68	1.69
2026	15.37	14.87	-0.50	231	-0.00	1.74	1.74
2027	15.62	14.94	-0.67	223	-0.00	1.79	1.79
2028	15.85	15.02	-0.83	215	-0.00	1.85	1.85
2029	16.07	15.09	-0.97	208	0.00	1.91	1.91
2030	16.27	15.17	-1.09	200	0.00	1.98	1.98
2031	16.45	15.25	-1.20	193	0.00	2.05	2.04
2032	16.61	15.34	-1.27	187	0.00	2.12	2.11
2033	16.74	15.42	-1.32	180	0.00	2.19	2.19
2034	16.85	15.50	-1.35	173	0.00	2.27	2.27
2035	16.93	15.55	-1.38	166	0.01	2.31	2.31
2036	16.99	15.56	-1.43	160	0.01	2.32	2.31
2037	17.03	15.57	-1.46	153	0.01	2.32	2.31
2038	17.03	15.57	-1.46	146	0.01	2.32	2.31
2039	17.01	15.57	-1.44	139	0.01	2.32	2.31
2040	16.97	15.57	-1.40	133	0.01	2.32	2.31
2041	16.93	15.57	-1.36	126	0.01	2.32	2.31
2042	16.87	15.57	-1.31	120	0.01	2.32	2.31
2043	16.82	15.56	-1.26	114	0.01	2.32	2.31
2044	16.77	15.56	-1.21	108	0.01	2.33	2.31
2045	16.73	15.56	-1.17	102	0.02	2.33	2.31
2046	16.70	15.56	-1.13	97	0.02	2.33	2.31
2047	16.66	15.56	-1.10	91	0.02	2.33	2.31
2048	16.63	15.56	-1.07	86	0.02	2.33	2.31
2049	16.61	15.56	-1.05	81	0.02	2.33	2.31
2050	16.59	15.56	-1.03	76	0.02	2.33	2.31
2051	16.58	15.56	-1.01	70	0.02	2.33	2.31
2052	16.58	15.56	-1.01	65	0.02	2.33	2.31
2053	16.59	15.57	-1.02	60	0.02	2.33	2.31
2054	16.61	15.57	-1.04	54	0.02	2.33	2.31
2055	16.64	15.57	-1.07	49	0.02	2.34	2.31
2056	16.68	15.58	-1.10	43	0.02	2.34	2.31
2057	16.72	15.58	-1.14	37	0.03	2.34	2.31
2058	16.77	15.58	-1.18	31	0.03	2.34	2.31
2059	16.81	15.59	-1.22	24	0.03	2.34	2.31
2060	16.86	15.59	-1.26	17	0.03	2.34	2.31
2061	16.90	15.60	-1.31	10	0.03	2.34	2.31
2062	16.95	15.60	-1.35	3	0.03	2.34	2.31
2063	17.00	15.61	-1.39	----	0.03	2.34	2.31
2064	17.05	15.61	-1.44	----	0.03	2.34	2.31
2065	17.10	15.61	-1.48	----	0.03	2.35	2.32
2066	17.15	15.62	-1.53	----	0.03	2.35	2.32
2067	17.20	15.62	-1.58	----	0.03	2.35	2.32
2068	17.25	15.63	-1.63	----	0.03	2.35	2.32
2069	17.31	15.63	-1.67	----	0.03	2.35	2.32
2070	17.36	15.64	-1.72	----	0.03	2.35	2.32
2071	17.41	15.64	-1.76	----	0.03	2.35	2.32
2072	17.45	15.64	-1.80	----	0.03	2.35	2.32
2073	17.48	15.65	-1.83	----	0.03	2.36	2.32
2074	17.51	15.65	-1.86	----	0.03	2.36	2.32
2075	17.54	15.66	-1.88	----	0.03	2.36	2.32
2076	17.55	15.66	-1.90	----	0.03	2.36	2.32
2077	17.56	15.66	-1.90	----	0.03	2.36	2.33
2078	17.56	15.66	-1.90	----	0.04	2.36	2.33
2079	17.55	15.66	-1.89	----	0.04	2.36	2.33
2080	17.55	15.66	-1.88	----	0.04	2.36	2.33
2081	17.54	15.66	-1.88	----	0.04	2.37	2.33
2082	17.54	15.66	-1.88	----	0.04	2.37	2.33
2083	17.55	15.67	-1.88	----	0.04	2.37	2.33
2084	17.56	15.67	-1.90	----	0.04	2.37	2.33
2085	17.59	15.67	-1.92	----	0.04	2.37	2.33
2086	17.62	15.67	-1.94	----	0.04	2.37	2.34
2087	17.65	15.68	-1.98	----	0.04	2.37	2.34
2088	17.69	15.68	-2.01	----	0.04	2.38	2.34
2089	17.74	15.69	-2.05	----	0.04	2.38	2.34
2090	17.79	15.69	-2.10	----	0.04	2.38	2.34
2091	17.84	15.69	-2.14	----	0.04	2.38	2.34
2092	17.88	15.70	-2.18	----	0.04	2.38	2.34

				Summarized Estimates

	Proposal				Change from Current Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2017 Trustees Report.
2017-2091	16.68%	15.96%	-0.72%	2062	0.02%	2.13%	2.11%

¹ Under current law, the year of Trust Fund reserve depletion is 2034.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates