Detailed Single Year Tables
Description of Proposed Provision:
B7.11: Beginning in January 2026, 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 |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.87 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.04 | 12.97 | -2.07 | 168 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.56 | 13.10 | -2.46 | 146 | 0.32 | 0.02 | -0.30 | ||
| 2027 | 15.68 | 13.11 | -2.57 | 127 | 0.30 | 0.02 | -0.28 | ||
| 2028 | 15.83 | 13.15 | -2.68 | 108 | 0.27 | 0.02 | -0.26 | ||
| 2029 | 15.97 | 13.18 | -2.79 | 89 | 0.25 | 0.01 | -0.23 | ||
| 2030 | 16.09 | 13.20 | -2.89 | 71 | 0.22 | 0.01 | -0.21 | ||
| 2031 | 16.20 | 13.23 | -2.98 | 52 | 0.20 | 0.01 | -0.18 | ||
| 2032 | 16.33 | 13.25 | -3.08 | 34 | 0.18 | 0.01 | -0.17 | ||
| 2033 | 16.44 | 13.26 | -3.18 | 15 | 0.17 | 0.01 | -0.16 | ||
| 2034 | 16.53 | 13.27 | -3.26 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2035 | 16.61 | 13.28 | -3.33 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2036 | 16.67 | 13.28 | -3.39 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2037 | 16.73 | 13.29 | -3.44 | ---- | 0.09 | 0.01 | -0.08 | ||
| 2038 | 16.77 | 13.29 | -3.47 | ---- | 0.07 | 0.01 | -0.07 | ||
| 2039 | 16.80 | 13.30 | -3.50 | ---- | 0.06 | 0.00 | -0.05 | ||
| 2040 | 16.83 | 13.30 | -3.52 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2041 | 16.84 | 13.30 | -3.54 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2042 | 16.84 | 13.30 | -3.54 | ---- | 0.03 | 0.00 | -0.02 | ||
| 2043 | 16.85 | 13.31 | -3.54 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2044 | 16.86 | 13.31 | -3.55 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2045 | 16.87 | 13.31 | -3.56 | ---- | 0.00 | 0.00 | -0.00 | ||
| 2046 | 16.88 | 13.31 | -3.56 | ---- | -0.01 | 0.00 | 0.01 | ||
| 2047 | 16.89 | 13.31 | -3.57 | ---- | -0.02 | 0.00 | 0.02 | ||
| 2048 | 16.90 | 13.32 | -3.59 | ---- | -0.02 | -0.00 | 0.02 | ||
| 2049 | 16.92 | 13.32 | -3.61 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2050 | 16.95 | 13.32 | -3.63 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2051 | 16.97 | 13.32 | -3.65 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2052 | 17.01 | 13.33 | -3.69 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2053 | 17.06 | 13.33 | -3.73 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2054 | 17.11 | 13.33 | -3.78 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2055 | 17.17 | 13.34 | -3.83 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2056 | 17.24 | 13.35 | -3.89 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2057 | 17.31 | 13.35 | -3.96 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2058 | 17.38 | 13.36 | -4.02 | ---- | -0.08 | -0.00 | 0.08 | ||
| 2059 | 17.45 | 13.36 | -4.09 | ---- | -0.08 | -0.00 | 0.08 | ||
| 2060 | 17.53 | 13.37 | -4.16 | ---- | -0.09 | -0.00 | 0.09 | ||
| 2061 | 17.60 | 13.38 | -4.22 | ---- | -0.09 | -0.00 | 0.09 | ||
| 2062 | 17.66 | 13.38 | -4.28 | ---- | -0.10 | -0.00 | 0.09 | ||
| 2063 | 17.73 | 13.39 | -4.34 | ---- | -0.10 | -0.00 | 0.09 | ||
| 2064 | 17.78 | 13.39 | -4.39 | ---- | -0.10 | -0.00 | 0.10 | ||
| 2065 | 17.84 | 13.40 | -4.45 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2066 | 17.90 | 13.40 | -4.50 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2067 | 17.95 | 13.40 | -4.55 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2068 | 18.01 | 13.41 | -4.60 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2069 | 18.07 | 13.41 | -4.65 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2070 | 18.12 | 13.42 | -4.71 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2071 | 18.18 | 13.42 | -4.75 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2072 | 18.22 | 13.43 | -4.80 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2073 | 18.27 | 13.43 | -4.84 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2074 | 18.31 | 13.43 | -4.87 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2075 | 18.34 | 13.44 | -4.90 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2076 | 18.36 | 13.44 | -4.92 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2077 | 18.37 | 13.44 | -4.93 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2078 | 18.37 | 13.44 | -4.93 | ---- | -0.13 | -0.01 | 0.13 | ||
| 2079 | 18.36 | 13.44 | -4.92 | ---- | -0.13 | -0.01 | 0.13 | ||
| 2080 | 18.33 | 13.44 | -4.89 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2081 | 18.29 | 13.44 | -4.86 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2082 | 18.25 | 13.44 | -4.82 | ---- | -0.14 | -0.01 | 0.14 | ||
| 2083 | 18.20 | 13.43 | -4.77 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2084 | 18.14 | 13.43 | -4.71 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2085 | 18.08 | 13.43 | -4.65 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2086 | 18.01 | 13.42 | -4.59 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2087 | 17.95 | 13.42 | -4.53 | ---- | -0.14 | -0.01 | 0.14 | ||
| 2088 | 17.88 | 13.41 | -4.46 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2089 | 17.82 | 13.41 | -4.41 | ---- | -0.14 | -0.01 | 0.13 | ||
| 2090 | 17.76 | 13.41 | -4.35 | ---- | -0.13 | -0.01 | 0.13 | ||
| 2091 | 17.71 | 13.40 | -4.31 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2092 | 17.67 | 13.40 | -4.27 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2093 | 17.65 | 13.40 | -4.25 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2094 | 17.63 | 13.40 | -4.23 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2095 | 17.62 | 13.40 | -4.22 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2096 | 17.62 | 13.40 | -4.22 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2097 | 17.63 | 13.40 | -4.23 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2098 | 17.65 | 13.40 | -4.25 | ---- | -0.12 | -0.01 | 0.12 | ||
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 | 17.36% | 13.78% | -3.59% | 2033 | -0.02% | -0.00% | 0.02% | ||
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.