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Detailed Single Year Tables

Description of Proposed Provision:
Increase the payroll tax rate (currently 12.4 percent) by 0.1 percentage point each year from 2021-2040, until the rate reaches 14.4 percent in 2040 and later.

 

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
201514.1312.82-1.31
308
0.000.000.00
201613.8812.88-1.00
298
0.000.000.00
201713.8912.91-0.98
280
0.000.000.00
201813.9712.94-1.03
264
0.000.000.00
201914.0912.95-1.14
248
0.000.000.00
202014.2312.96-1.26
233
0.000.000.00
202114.3513.08-1.27
219
0.000.090.09
202214.5213.20-1.32
204
0.000.190.19
202314.7213.31-1.41
190
0.000.280.28
202414.9613.44-1.51
177
0.000.380.38
202515.1613.55-1.61
164
0.000.470.47
202615.3613.67-1.70
151
0.000.570.57
202715.5613.78-1.78
139
0.000.660.67
202815.7513.89-1.86
127
0.000.760.76
202915.9314.00-1.93
115
0.000.850.86
203016.0914.10-1.99
104
0.000.950.95
203116.2414.21-2.03
92
0.001.041.05
203216.3714.32-2.05
81
0.001.141.14
203316.4714.42-2.06
69
0.001.231.24
203416.5514.52-2.03
57
0.001.331.33
203516.6114.62-1.99
46
-0.011.421.43
203616.6714.72-1.95
35
-0.011.521.52
203716.7114.82-1.89
24
-0.011.611.62
203816.7214.92-1.81
13
-0.011.711.71
203916.7215.01-1.71
3
-0.011.801.81
204016.7015.11-1.59
----
-0.011.891.90
204116.6815.11-1.56
----
-0.011.901.91
204216.6515.11-1.54
----
-0.011.901.91
204316.6315.11-1.51
----
-0.011.901.91
204416.6015.11-1.49
----
-0.011.901.91
204516.5815.12-1.47
----
-0.011.901.91
204616.5615.12-1.44
----
-0.021.901.91
204716.5415.12-1.43
----
-0.021.901.92
204816.5315.12-1.41
----
-0.021.901.92
204916.5215.12-1.40
----
-0.021.901.92
205016.5215.12-1.40
----
-0.021.901.92
205116.5315.12-1.41
----
-0.021.901.92
205216.5515.12-1.42
----
-0.021.901.92
205316.5815.13-1.45
----
-0.031.901.93
205416.6115.13-1.48
----
-0.031.901.93
205516.6615.13-1.52
----
-0.031.901.93
205616.7115.14-1.57
----
-0.031.901.93
205716.7615.14-1.62
----
-0.031.901.93
205816.8115.15-1.67
----
-0.031.901.94
205916.8615.15-1.71
----
-0.041.901.94
206016.9115.16-1.76
----
-0.041.901.94
206116.9715.16-1.81
----
-0.041.901.94
206217.0215.16-1.85
----
-0.041.901.95
206317.0715.17-1.90
----
-0.041.901.95
206417.1215.17-1.95
----
-0.041.901.95
206517.1715.17-2.00
----
-0.051.901.95
206617.2215.18-2.05
----
-0.051.911.95
206717.2815.18-2.10
----
-0.051.911.96
206817.3415.19-2.15
----
-0.051.911.96
206917.3915.19-2.20
----
-0.051.911.96
207017.4515.20-2.25
----
-0.051.911.96
207117.5015.20-2.30
----
-0.061.911.96
207217.5415.20-2.34
----
-0.061.911.97
207317.5715.20-2.37
----
-0.061.911.97
207417.6015.21-2.40
----
-0.061.911.97
207517.6215.21-2.41
----
-0.061.911.97
207617.6315.21-2.42
----
-0.061.911.97
207717.6415.21-2.43
----
-0.061.911.97
207817.6415.21-2.43
----
-0.061.911.97
207917.6415.21-2.43
----
-0.071.911.98
208017.6415.21-2.43
----
-0.071.911.98
208117.6515.21-2.43
----
-0.071.911.98
208217.6615.22-2.44
----
-0.071.911.98
208317.6815.22-2.46
----
-0.071.911.98
208417.7115.22-2.49
----
-0.071.911.98
208517.7415.22-2.52
----
-0.071.911.98
208617.7815.22-2.55
----
-0.071.911.98
208717.8215.23-2.59
----
-0.071.911.98
208817.8615.23-2.63
----
-0.071.921.99
208917.9015.23-2.67
----
-0.071.921.99
209017.9415.24-2.71
----
-0.071.921.99



 

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 2015 Trustees Report.
2015-2089 16.52% 15.27% -1.25%
2039
-0.02% 1.40% 1.43%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015