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Detailed Single Year Tables

Description of Proposed Provision:
Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2015-2062, and a 3 percent rate for years 2063 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201213.8312.89-0.93
340
0.000.000.00
201313.9512.83-1.12
329
0.000.000.00
201413.9812.93-1.05
315
0.000.000.00
201513.9713.34-0.63
302
0.000.390.39
201613.9413.39-0.54
292
0.000.410.41
201713.9113.42-0.49
283
0.000.420.42
201813.9613.45-0.51
274
0.000.420.42
201914.1313.46-0.67
264
0.000.410.41
202014.3713.48-0.90
254
0.000.410.41
202114.6513.51-1.15
243
0.000.400.40
202214.9713.53-1.44
231
0.000.400.40
202315.2913.55-1.74
218
0.000.400.40
202415.5913.56-2.03
204
0.000.400.40
202515.8813.58-2.30
190
0.000.400.40
202616.1513.60-2.55
175
0.000.400.40
202716.4113.61-2.80
159
0.000.400.41
202816.6313.63-3.01
142
0.000.400.41
202916.8313.64-3.19
125
0.000.400.41
203017.0013.65-3.35
107
0.000.400.41
203117.1413.66-3.48
89
0.000.400.41
203217.2513.67-3.58
70
0.000.400.41
203317.3213.67-3.65
50
0.000.400.41
203417.3713.68-3.69
30
0.000.400.41
203517.4013.68-3.72
9
-0.010.400.41
203617.4213.68-3.74
----
-0.010.400.41
203717.4313.69-3.74
----
-0.010.400.41
203817.4113.69-3.73
----
-0.010.400.41
203917.3913.69-3.70
----
-0.010.400.41
204017.3513.69-3.66
----
-0.010.400.41
204117.3113.69-3.63
----
-0.010.400.41
204217.2713.68-3.59
----
-0.010.400.41
204317.2413.68-3.55
----
-0.010.400.41
204417.2013.68-3.52
----
-0.010.400.41
204517.1813.68-3.50
----
-0.010.400.41
204617.1513.68-3.47
----
-0.010.400.41
204717.1313.68-3.45
----
-0.010.410.42
204817.1013.68-3.42
----
-0.010.410.42
204917.0813.68-3.40
----
-0.010.410.42
205017.0713.68-3.39
----
-0.010.410.42
205117.0613.68-3.38
----
-0.010.410.42
205217.0613.68-3.38
----
-0.010.410.42
205317.0613.68-3.38
----
-0.010.410.42
205417.0713.68-3.38
----
-0.010.410.42
205517.0813.68-3.39
----
-0.010.410.42
205617.0913.69-3.41
----
-0.010.410.42
205717.1113.69-3.42
----
-0.010.410.42
205817.1213.69-3.43
----
-0.010.410.42
205917.1313.69-3.44
----
-0.010.410.42
206017.1413.69-3.45
----
-0.010.410.42
206117.1513.69-3.45
----
-0.020.410.42
206217.1513.69-3.46
----
-0.020.410.42
206317.1613.88-3.28
----
-0.020.600.61
206417.1713.90-3.27
----
-0.020.610.62
206517.1813.90-3.29
----
-0.020.610.63
206617.2013.90-3.30
----
-0.020.610.63
206717.2213.90-3.32
----
-0.020.610.63
206817.2513.90-3.35
----
-0.020.610.63
206917.2813.91-3.37
----
-0.020.610.63
207017.3113.91-3.40
----
-0.020.610.63
207117.3413.91-3.43
----
-0.020.610.63
207217.3613.91-3.45
----
-0.020.610.63
207317.3913.91-3.47
----
-0.020.610.63
207417.4213.92-3.50
----
-0.020.610.63
207517.4413.92-3.52
----
-0.020.610.63
207617.4713.92-3.55
----
-0.020.610.63
207717.4913.92-3.57
----
-0.020.610.63
207817.5213.92-3.60
----
-0.020.610.63
207917.5513.93-3.63
----
-0.020.610.63
208017.5913.93-3.66
----
-0.020.610.63
208117.6213.93-3.69
----
-0.020.610.63
208217.6613.93-3.72
----
-0.020.610.63
208317.7013.94-3.76
----
-0.020.610.63
208417.7413.94-3.80
----
-0.020.620.63
208517.7713.94-3.83
----
-0.020.620.64
208617.8113.95-3.87
----
-0.020.620.64
208717.8513.95-3.90
----
-0.020.620.64



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2012 Trustees Report.
2012-2086 16.68% 14.45% -2.22%
2035
-0.01% 0.43% 0.44%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified February 20, 2013