Detailed Single Year Tables
Description of Proposed Provision:
B7.3: Give credit to parents with a child under 6 for earnings for up to five years. The earnings credited for a childcare year equal one half of the SSA average wage index (about $34,396 in 2024). The credits are available for all past years to newly eligible retired-worker and disabled-worker beneficiaries starting in 2025. The 5 years are chosen to yield the largest increase in 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 |
Cost rate |
Income rate |
Annual balance |
|||
2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
2025 | 15.01 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | -0.00 | ||
2026 | 15.21 | 13.07 | -2.14 | 152 | 0.01 | 0.00 | -0.01 | ||
2027 | 15.38 | 13.11 | -2.27 | 134 | 0.02 | 0.00 | -0.02 | ||
2028 | 15.45 | 13.13 | -2.31 | 117 | 0.03 | 0.00 | -0.03 | ||
2029 | 15.51 | 13.16 | -2.35 | 100 | 0.04 | 0.00 | -0.04 | ||
2030 | 15.58 | 13.18 | -2.40 | 83 | 0.05 | 0.00 | -0.05 | ||
2031 | 15.64 | 13.20 | -2.44 | 67 | 0.06 | 0.00 | -0.06 | ||
2032 | 15.68 | 13.22 | -2.45 | 51 | 0.07 | 0.00 | -0.07 | ||
2033 | 15.75 | 13.27 | -2.48 | 35 | 0.09 | 0.00 | -0.08 | ||
2034 | 15.87 | 13.28 | -2.59 | 20 | 0.10 | 0.00 | -0.10 | ||
2035 | 16.00 | 13.29 | -2.71 | 4 | 0.11 | 0.00 | -0.11 | ||
2036 | 16.11 | 13.30 | -2.81 | — | 0.12 | 0.01 | -0.12 | ||
2037 | 16.23 | 13.31 | -2.92 | — | 0.14 | 0.01 | -0.13 | ||
2038 | 16.32 | 13.32 | -3.01 | — | 0.15 | 0.01 | -0.14 | ||
2039 | 16.41 | 13.33 | -3.08 | — | 0.16 | 0.01 | -0.15 | ||
2040 | 16.49 | 13.33 | -3.16 | — | 0.17 | 0.01 | -0.16 | ||
2041 | 16.56 | 13.34 | -3.22 | — | 0.18 | 0.01 | -0.17 | ||
2042 | 16.62 | 13.34 | -3.28 | — | 0.19 | 0.01 | -0.18 | ||
2043 | 16.68 | 13.35 | -3.33 | — | 0.20 | 0.01 | -0.19 | ||
2044 | 16.73 | 13.35 | -3.37 | — | 0.21 | 0.01 | -0.20 | ||
2045 | 16.77 | 13.35 | -3.41 | — | 0.22 | 0.01 | -0.21 | ||
2046 | 16.81 | 13.36 | -3.45 | — | 0.22 | 0.01 | -0.21 | ||
2047 | 16.86 | 13.36 | -3.49 | — | 0.23 | 0.01 | -0.22 | ||
2048 | 16.91 | 13.37 | -3.54 | — | 0.24 | 0.01 | -0.23 | ||
2049 | 16.96 | 13.37 | -3.59 | — | 0.25 | 0.01 | -0.24 | ||
2050 | 17.02 | 13.38 | -3.64 | — | 0.26 | 0.01 | -0.24 | ||
2051 | 17.07 | 13.38 | -3.69 | — | 0.26 | 0.01 | -0.25 | ||
2052 | 17.14 | 13.39 | -3.75 | — | 0.27 | 0.01 | -0.26 | ||
2053 | 17.21 | 13.39 | -3.82 | — | 0.28 | 0.01 | -0.26 | ||
2054 | 17.28 | 13.40 | -3.89 | — | 0.28 | 0.01 | -0.27 | ||
2055 | 17.37 | 13.40 | -3.96 | — | 0.29 | 0.01 | -0.27 | ||
2056 | 17.45 | 13.41 | -4.04 | — | 0.29 | 0.02 | -0.28 | ||
2057 | 17.54 | 13.42 | -4.12 | — | 0.30 | 0.02 | -0.28 | ||
2058 | 17.63 | 13.43 | -4.21 | — | 0.30 | 0.02 | -0.29 | ||
2059 | 17.72 | 13.43 | -4.29 | — | 0.31 | 0.02 | -0.29 | ||
2060 | 17.81 | 13.44 | -4.37 | — | 0.31 | 0.02 | -0.29 | ||
2061 | 17.90 | 13.45 | -4.45 | — | 0.31 | 0.02 | -0.30 | ||
2062 | 17.97 | 13.45 | -4.52 | — | 0.32 | 0.02 | -0.30 | ||
2063 | 18.04 | 13.46 | -4.58 | — | 0.32 | 0.02 | -0.30 | ||
2064 | 18.11 | 13.47 | -4.65 | — | 0.32 | 0.02 | -0.30 | ||
2065 | 18.18 | 13.47 | -4.71 | — | 0.32 | 0.02 | -0.31 | ||
2066 | 18.24 | 13.48 | -4.77 | — | 0.33 | 0.02 | -0.31 | ||
2067 | 18.31 | 13.48 | -4.83 | — | 0.33 | 0.02 | -0.31 | ||
2068 | 18.38 | 13.49 | -4.89 | — | 0.33 | 0.02 | -0.31 | ||
2069 | 18.45 | 13.49 | -4.95 | — | 0.33 | 0.02 | -0.31 | ||
2070 | 18.52 | 13.50 | -5.02 | — | 0.33 | 0.02 | -0.32 | ||
2071 | 18.59 | 13.50 | -5.08 | — | 0.34 | 0.02 | -0.32 | ||
2072 | 18.65 | 13.51 | -5.14 | — | 0.34 | 0.02 | -0.32 | ||
2073 | 18.71 | 13.51 | -5.20 | — | 0.34 | 0.02 | -0.32 | ||
2074 | 18.77 | 13.52 | -5.25 | — | 0.34 | 0.02 | -0.32 | ||
2075 | 18.83 | 13.52 | -5.30 | — | 0.34 | 0.02 | -0.32 | ||
2076 | 18.87 | 13.53 | -5.34 | — | 0.34 | 0.02 | -0.32 | ||
2077 | 18.90 | 13.53 | -5.37 | — | 0.34 | 0.02 | -0.32 | ||
2078 | 18.93 | 13.53 | -5.40 | — | 0.34 | 0.02 | -0.33 | ||
2079 | 18.94 | 13.53 | -5.41 | — | 0.34 | 0.02 | -0.33 | ||
2080 | 18.94 | 13.53 | -5.41 | — | 0.34 | 0.02 | -0.33 | ||
2081 | 18.93 | 13.53 | -5.40 | — | 0.34 | 0.02 | -0.33 | ||
2082 | 18.92 | 13.53 | -5.38 | — | 0.34 | 0.02 | -0.33 | ||
2083 | 18.89 | 13.53 | -5.36 | — | 0.34 | 0.02 | -0.33 | ||
2084 | 18.86 | 13.53 | -5.33 | — | 0.34 | 0.02 | -0.33 | ||
2085 | 18.81 | 13.53 | -5.29 | — | 0.34 | 0.02 | -0.32 | ||
2086 | 18.76 | 13.53 | -5.24 | — | 0.34 | 0.02 | -0.32 | ||
2087 | 18.71 | 13.52 | -5.18 | — | 0.34 | 0.02 | -0.32 | ||
2088 | 18.64 | 13.52 | -5.13 | — | 0.34 | 0.02 | -0.32 | ||
2089 | 18.59 | 13.51 | -5.07 | — | 0.34 | 0.02 | -0.32 | ||
2090 | 18.53 | 13.51 | -5.02 | — | 0.34 | 0.02 | -0.32 | ||
2091 | 18.48 | 13.51 | -4.97 | — | 0.34 | 0.02 | -0.32 | ||
2092 | 18.44 | 13.50 | -4.94 | — | 0.34 | 0.02 | -0.32 | ||
2093 | 18.42 | 13.50 | -4.92 | — | 0.34 | 0.02 | -0.32 | ||
2094 | 18.41 | 13.50 | -4.90 | — | 0.34 | 0.02 | -0.32 | ||
2095 | 18.41 | 13.50 | -4.90 | — | 0.34 | 0.02 | -0.32 | ||
2096 | 18.41 | 13.50 | -4.91 | — | 0.34 | 0.02 | -0.32 | ||
2097 | 18.43 | 13.50 | -4.93 | — | 0.34 | 0.02 | -0.32 | ||
2098 | 18.46 | 13.51 | -4.96 | — | 0.34 | 0.02 | -0.32 | ||
2099 | 18.50 | 13.51 | -4.99 | — | 0.34 | 0.02 | -0.32 |
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 | 17.54% | 13.81% | -3.73% | 2035 | 0.25% | 0.01% | -0.23% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
Based on Intermediate Assumptions of the 2024 Trustees Report.