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Detailed Single Year Tables
Level of Monthly Benefits

Description of Proposed Provision:
Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2020 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2020, based on changes in the SSA average wage index.

 

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
202014.2212.96-1.26
233
-0.010.000.01
202114.3412.98-1.35
219
-0.010.000.01
202214.5013.01-1.49
204
-0.020.000.02
202314.6913.03-1.66
189
-0.040.000.03
202414.9013.06-1.84
174
-0.060.000.06
202515.0713.08-1.99
159
-0.090.000.09
202615.2413.09-2.15
144
-0.12-0.010.12
202715.4113.11-2.31
129
-0.15-0.010.14
202815.5813.12-2.46
114
-0.17-0.010.16
202915.7313.13-2.60
99
-0.20-0.010.19
203015.8613.14-2.72
84
-0.23-0.010.22
203115.9913.15-2.84
67
-0.25-0.010.24
203216.1113.16-2.94
50
-0.27-0.010.25
203316.2013.17-3.02
33
-0.28-0.010.27
203416.2613.18-3.08
15
-0.29-0.010.28
203516.3213.18-3.13
----
-0.30-0.020.29
203616.3713.19-3.18
----
-0.31-0.020.30
203716.4013.19-3.20
----
-0.32-0.020.31
203816.4013.19-3.21
----
-0.33-0.020.31
203916.4013.20-3.20
----
-0.33-0.020.32
204016.3813.20-3.18
----
-0.34-0.020.32
204116.3513.20-3.15
----
-0.34-0.020.32
204216.3213.20-3.12
----
-0.35-0.020.33
204316.2913.20-3.10
----
-0.35-0.020.33
204416.2713.20-3.07
----
-0.35-0.020.33
204516.2513.20-3.05
----
-0.35-0.020.33
204616.2213.20-3.03
----
-0.35-0.020.33
204716.2113.20-3.01
----
-0.35-0.020.33
204816.2013.20-3.00
----
-0.35-0.020.33
204916.1813.20-2.98
----
-0.35-0.020.34
205016.1813.20-2.98
----
-0.36-0.020.34
205116.1913.20-2.99
----
-0.36-0.020.34
205216.2113.20-3.01
----
-0.36-0.020.34
205316.2413.21-3.03
----
-0.36-0.020.34
205416.2813.21-3.07
----
-0.37-0.020.35
205516.3213.21-3.11
----
-0.37-0.020.35
205616.3713.22-3.15
----
-0.37-0.020.35
205716.4213.22-3.20
----
-0.37-0.020.35
205816.4713.22-3.25
----
-0.38-0.020.36
205916.5213.23-3.29
----
-0.38-0.020.36
206016.5713.23-3.34
----
-0.38-0.020.36
206116.6213.24-3.39
----
-0.38-0.020.36
206216.6813.24-3.44
----
-0.38-0.020.36
206316.7313.24-3.48
----
-0.38-0.020.36
206416.7813.25-3.53
----
-0.38-0.020.36
206516.8313.25-3.58
----
-0.38-0.020.36
206616.8913.25-3.63
----
-0.39-0.020.37
206716.9413.26-3.69
----
-0.39-0.020.37
206817.0013.26-3.74
----
-0.39-0.020.37
206917.0613.26-3.79
----
-0.39-0.020.37
207017.1113.27-3.84
----
-0.39-0.020.37
207117.1613.27-3.89
----
-0.39-0.020.37
207217.2013.27-3.93
----
-0.39-0.020.37
207317.2413.28-3.96
----
-0.39-0.020.37
207417.2713.28-3.99
----
-0.40-0.020.37
207517.2913.28-4.01
----
-0.40-0.020.37
207617.3013.28-4.02
----
-0.40-0.020.38
207717.3113.28-4.03
----
-0.40-0.020.38
207817.3113.28-4.03
----
-0.40-0.020.38
207917.3113.28-4.03
----
-0.40-0.020.38
208017.3113.28-4.03
----
-0.40-0.020.38
208117.3213.28-4.04
----
-0.40-0.020.38
208217.3313.28-4.05
----
-0.40-0.020.38
208317.3513.28-4.07
----
-0.40-0.020.38
208417.3813.29-4.09
----
-0.40-0.020.38
208517.4113.29-4.12
----
-0.40-0.020.38
208617.4513.29-4.16
----
-0.40-0.020.38
208717.4913.29-4.19
----
-0.40-0.020.38
208817.5313.29-4.23
----
-0.40-0.020.38
208917.5713.30-4.27
----
-0.40-0.020.38
209017.6113.30-4.31
----
-0.40-0.020.38



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2015 Trustees Report.
2015-2089 16.26% 13.85% -2.41%
2034
-0.28% -0.01% 0.27%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 1, 2015