Detailed Single Year Tables
Description of Proposed Provision:
B7.14: Eliminate completely the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), effective 2025.
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 | 15.16 | 12.90 | -2.26 | 169 | 0.15 | 0.01 | -0.15 | ||
| 2026 | 15.35 | 13.08 | -2.28 | 150 | 0.15 | 0.01 | -0.14 | ||
| 2027 | 15.51 | 13.11 | -2.39 | 131 | 0.15 | 0.01 | -0.14 | ||
| 2028 | 15.56 | 13.14 | -2.42 | 114 | 0.14 | 0.01 | -0.14 | ||
| 2029 | 15.61 | 13.17 | -2.44 | 96 | 0.14 | 0.01 | -0.13 | ||
| 2030 | 15.67 | 13.19 | -2.48 | 79 | 0.14 | 0.01 | -0.13 | ||
| 2031 | 15.71 | 13.21 | -2.50 | 63 | 0.14 | 0.01 | -0.13 | ||
| 2032 | 15.74 | 13.23 | -2.51 | 47 | 0.13 | 0.01 | -0.13 | ||
| 2033 | 15.79 | 13.27 | -2.52 | 31 | 0.13 | 0.01 | -0.12 | ||
| 2034 | 15.90 | 13.28 | -2.62 | 15 | 0.13 | 0.01 | -0.12 | ||
| 2035 | 16.01 | 13.29 | -2.72 | — | 0.13 | 0.01 | -0.12 | ||
| 2036 | 16.12 | 13.30 | -2.81 | — | 0.13 | 0.01 | -0.12 | ||
| 2037 | 16.22 | 13.31 | -2.91 | — | 0.13 | 0.01 | -0.12 | ||
| 2038 | 16.30 | 13.32 | -2.98 | — | 0.13 | 0.01 | -0.12 | ||
| 2039 | 16.38 | 13.33 | -3.05 | — | 0.13 | 0.01 | -0.12 | ||
| 2040 | 16.45 | 13.33 | -3.12 | — | 0.13 | 0.01 | -0.12 | ||
| 2041 | 16.51 | 13.34 | -3.17 | — | 0.13 | 0.01 | -0.12 | ||
| 2042 | 16.56 | 13.34 | -3.22 | — | 0.13 | 0.01 | -0.12 | ||
| 2043 | 16.61 | 13.35 | -3.26 | — | 0.13 | 0.01 | -0.12 | ||
| 2044 | 16.64 | 13.35 | -3.29 | — | 0.13 | 0.01 | -0.12 | ||
| 2045 | 16.68 | 13.35 | -3.32 | — | 0.12 | 0.01 | -0.12 | ||
| 2046 | 16.71 | 13.36 | -3.36 | — | 0.12 | 0.01 | -0.12 | ||
| 2047 | 16.75 | 13.36 | -3.39 | — | 0.12 | 0.01 | -0.12 | ||
| 2048 | 16.79 | 13.36 | -3.43 | — | 0.12 | 0.01 | -0.12 | ||
| 2049 | 16.83 | 13.37 | -3.47 | — | 0.12 | 0.01 | -0.12 | ||
| 2050 | 16.88 | 13.37 | -3.51 | — | 0.12 | 0.01 | -0.12 | ||
| 2051 | 16.93 | 13.38 | -3.56 | — | 0.12 | 0.01 | -0.12 | ||
| 2052 | 16.99 | 13.38 | -3.61 | — | 0.12 | 0.01 | -0.12 | ||
| 2053 | 17.06 | 13.39 | -3.67 | — | 0.12 | 0.01 | -0.12 | ||
| 2054 | 17.13 | 13.39 | -3.73 | — | 0.12 | 0.01 | -0.12 | ||
| 2055 | 17.20 | 13.40 | -3.80 | — | 0.12 | 0.01 | -0.12 | ||
| 2056 | 17.28 | 13.40 | -3.88 | — | 0.12 | 0.01 | -0.12 | ||
| 2057 | 17.37 | 13.41 | -3.96 | — | 0.13 | 0.01 | -0.12 | ||
| 2058 | 17.46 | 13.42 | -4.04 | — | 0.13 | 0.01 | -0.12 | ||
| 2059 | 17.54 | 13.43 | -4.12 | — | 0.13 | 0.01 | -0.12 | ||
| 2060 | 17.63 | 13.43 | -4.20 | — | 0.13 | 0.01 | -0.12 | ||
| 2061 | 17.71 | 13.44 | -4.27 | — | 0.13 | 0.01 | -0.12 | ||
| 2062 | 17.78 | 13.44 | -4.34 | — | 0.13 | 0.01 | -0.12 | ||
| 2063 | 17.85 | 13.45 | -4.40 | — | 0.13 | 0.01 | -0.12 | ||
| 2064 | 17.92 | 13.46 | -4.46 | — | 0.13 | 0.01 | -0.12 | ||
| 2065 | 17.98 | 13.46 | -4.52 | — | 0.13 | 0.01 | -0.12 | ||
| 2066 | 18.05 | 13.47 | -4.58 | — | 0.13 | 0.01 | -0.12 | ||
| 2067 | 18.11 | 13.47 | -4.64 | — | 0.13 | 0.01 | -0.12 | ||
| 2068 | 18.18 | 13.48 | -4.70 | — | 0.13 | 0.01 | -0.12 | ||
| 2069 | 18.25 | 13.48 | -4.76 | — | 0.13 | 0.01 | -0.12 | ||
| 2070 | 18.32 | 13.49 | -4.83 | — | 0.13 | 0.01 | -0.12 | ||
| 2071 | 18.38 | 13.49 | -4.89 | — | 0.13 | 0.01 | -0.12 | ||
| 2072 | 18.45 | 13.50 | -4.95 | — | 0.13 | 0.01 | -0.12 | ||
| 2073 | 18.51 | 13.50 | -5.01 | — | 0.13 | 0.01 | -0.13 | ||
| 2074 | 18.57 | 13.51 | -5.06 | — | 0.13 | 0.01 | -0.13 | ||
| 2075 | 18.62 | 13.51 | -5.11 | — | 0.13 | 0.01 | -0.13 | ||
| 2076 | 18.66 | 13.52 | -5.14 | — | 0.13 | 0.01 | -0.13 | ||
| 2077 | 18.69 | 13.52 | -5.18 | — | 0.13 | 0.01 | -0.13 | ||
| 2078 | 18.72 | 13.52 | -5.20 | — | 0.13 | 0.01 | -0.13 | ||
| 2079 | 18.73 | 13.52 | -5.21 | — | 0.13 | 0.01 | -0.13 | ||
| 2080 | 18.73 | 13.52 | -5.21 | — | 0.13 | 0.01 | -0.13 | ||
| 2081 | 18.72 | 13.52 | -5.20 | — | 0.13 | 0.01 | -0.13 | ||
| 2082 | 18.71 | 13.52 | -5.18 | — | 0.13 | 0.01 | -0.13 | ||
| 2083 | 18.68 | 13.52 | -5.16 | — | 0.13 | 0.01 | -0.13 | ||
| 2084 | 18.65 | 13.52 | -5.13 | — | 0.13 | 0.01 | -0.13 | ||
| 2085 | 18.60 | 13.52 | -5.09 | — | 0.13 | 0.01 | -0.13 | ||
| 2086 | 18.55 | 13.51 | -5.04 | — | 0.13 | 0.01 | -0.13 | ||
| 2087 | 18.50 | 13.51 | -4.99 | — | 0.13 | 0.01 | -0.13 | ||
| 2088 | 18.44 | 13.51 | -4.93 | — | 0.13 | 0.01 | -0.12 | ||
| 2089 | 18.38 | 13.50 | -4.87 | — | 0.13 | 0.01 | -0.12 | ||
| 2090 | 18.32 | 13.50 | -4.82 | — | 0.13 | 0.01 | -0.12 | ||
| 2091 | 18.27 | 13.50 | -4.78 | — | 0.13 | 0.01 | -0.12 | ||
| 2092 | 18.24 | 13.49 | -4.74 | — | 0.13 | 0.01 | -0.12 | ||
| 2093 | 18.21 | 13.49 | -4.72 | — | 0.13 | 0.01 | -0.12 | ||
| 2094 | 18.20 | 13.49 | -4.71 | — | 0.13 | 0.01 | -0.12 | ||
| 2095 | 18.20 | 13.49 | -4.71 | — | 0.13 | 0.01 | -0.12 | ||
| 2096 | 18.21 | 13.49 | -4.71 | — | 0.13 | 0.01 | -0.12 | ||
| 2097 | 18.23 | 13.49 | -4.73 | — | 0.13 | 0.01 | -0.12 | ||
| 2098 | 18.25 | 13.50 | -4.76 | — | 0.13 | 0.01 | -0.12 | ||
| 2099 | 18.29 | 13.50 | -4.79 | — | 0.13 | 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 |
||
| 2024-2098 | 17.43% | 13.81% | -3.62% | 2034 | 0.13% | 0.01% | -0.12% | ||
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.