Description of Proposed Provision:
F1: Starting in 2018, cover newly hired State and local government employees.
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 |
|||
| 2017 | 13.41 | 13.03 | -0.38 | 298 | 0.00 | 0.00 | 0.00 | ||
| 2018 | 13.49 | 12.96 | -0.53 | 287 | 0.00 | 0.03 | 0.03 | ||
| 2019 | 13.70 | 13.01 | -0.69 | 273 | -0.00 | 0.06 | 0.06 | ||
| 2020 | 13.85 | 13.06 | -0.80 | 259 | 0.00 | 0.10 | 0.10 | ||
| 2021 | 14.02 | 13.12 | -0.90 | 246 | 0.00 | 0.13 | 0.12 | ||
| 2022 | 14.26 | 13.17 | -1.08 | 232 | 0.00 | 0.15 | 0.15 | ||
| 2023 | 14.55 | 13.22 | -1.32 | 218 | 0.00 | 0.17 | 0.17 | ||
| 2024 | 14.83 | 13.28 | -1.55 | 203 | 0.00 | 0.20 | 0.19 | ||
| 2025 | 15.10 | 13.32 | -1.78 | 188 | 0.00 | 0.22 | 0.21 | ||
| 2026 | 15.38 | 13.37 | -2.01 | 172 | 0.01 | 0.23 | 0.23 | ||
| 2027 | 15.62 | 13.40 | -2.22 | 155 | 0.01 | 0.25 | 0.24 | ||
| 2028 | 15.86 | 13.43 | -2.43 | 139 | 0.01 | 0.27 | 0.26 | ||
| 2029 | 16.08 | 13.46 | -2.61 | 123 | 0.01 | 0.28 | 0.27 | ||
| 2030 | 16.28 | 13.49 | -2.79 | 106 | 0.01 | 0.30 | 0.28 | ||
| 2031 | 16.46 | 13.52 | -2.95 | 89 | 0.02 | 0.31 | 0.29 | ||
| 2032 | 16.62 | 13.54 | -3.08 | 72 | 0.02 | 0.32 | 0.31 | ||
| 2033 | 16.76 | 13.56 | -3.20 | 54 | 0.02 | 0.34 | 0.31 | ||
| 2034 | 16.87 | 13.58 | -3.29 | 36 | 0.03 | 0.35 | 0.32 | ||
| 2035 | 16.96 | 13.60 | -3.36 | 17 | 0.03 | 0.36 | 0.33 | ||
| 2036 | 17.02 | 13.62 | -3.40 | ---- | 0.03 | 0.37 | 0.34 | ||
| 2037 | 17.06 | 13.63 | -3.43 | ---- | 0.04 | 0.38 | 0.35 | ||
| 2038 | 17.06 | 13.65 | -3.42 | ---- | 0.04 | 0.40 | 0.35 | ||
| 2039 | 17.05 | 13.66 | -3.39 | ---- | 0.05 | 0.41 | 0.36 | ||
| 2040 | 17.02 | 13.67 | -3.35 | ---- | 0.06 | 0.42 | 0.36 | ||
| 2041 | 16.98 | 13.68 | -3.30 | ---- | 0.06 | 0.43 | 0.37 | ||
| 2042 | 16.93 | 13.68 | -3.24 | ---- | 0.07 | 0.44 | 0.38 | ||
| 2043 | 16.88 | 13.69 | -3.19 | ---- | 0.08 | 0.45 | 0.38 | ||
| 2044 | 16.85 | 13.70 | -3.14 | ---- | 0.09 | 0.46 | 0.38 | ||
| 2045 | 16.81 | 13.71 | -3.10 | ---- | 0.10 | 0.47 | 0.38 | ||
| 2046 | 16.78 | 13.72 | -3.06 | ---- | 0.10 | 0.49 | 0.38 | ||
| 2047 | 16.76 | 13.73 | -3.03 | ---- | 0.11 | 0.50 | 0.38 | ||
| 2048 | 16.74 | 13.75 | -2.99 | ---- | 0.13 | 0.52 | 0.39 | ||
| 2049 | 16.73 | 13.75 | -2.98 | ---- | 0.14 | 0.52 | 0.38 | ||
| 2050 | 16.72 | 13.75 | -2.97 | ---- | 0.16 | 0.52 | 0.36 | ||
| 2051 | 16.73 | 13.75 | -2.97 | ---- | 0.17 | 0.52 | 0.35 | ||
| 2052 | 16.74 | 13.75 | -2.98 | ---- | 0.18 | 0.52 | 0.34 | ||
| 2053 | 16.77 | 13.76 | -3.01 | ---- | 0.20 | 0.52 | 0.32 | ||
| 2054 | 16.81 | 13.76 | -3.05 | ---- | 0.22 | 0.52 | 0.30 | ||
| 2055 | 16.86 | 13.76 | -3.10 | ---- | 0.24 | 0.52 | 0.29 | ||
| 2056 | 16.91 | 13.77 | -3.15 | ---- | 0.26 | 0.53 | 0.27 | ||
| 2057 | 16.97 | 13.77 | -3.20 | ---- | 0.27 | 0.53 | 0.26 | ||
| 2058 | 17.03 | 13.77 | -3.26 | ---- | 0.29 | 0.53 | 0.24 | ||
| 2059 | 17.10 | 13.78 | -3.32 | ---- | 0.32 | 0.53 | 0.21 | ||
| 2060 | 17.17 | 13.78 | -3.38 | ---- | 0.34 | 0.53 | 0.19 | ||
| 2061 | 17.23 | 13.79 | -3.44 | ---- | 0.36 | 0.53 | 0.18 | ||
| 2062 | 17.30 | 13.79 | -3.51 | ---- | 0.37 | 0.53 | 0.16 | ||
| 2063 | 17.37 | 13.80 | -3.57 | ---- | 0.40 | 0.53 | 0.14 | ||
| 2064 | 17.43 | 13.80 | -3.63 | ---- | 0.42 | 0.54 | 0.12 | ||
| 2065 | 17.50 | 13.80 | -3.70 | ---- | 0.44 | 0.54 | 0.10 | ||
| 2066 | 17.57 | 13.81 | -3.76 | ---- | 0.46 | 0.54 | 0.08 | ||
| 2067 | 17.64 | 13.81 | -3.83 | ---- | 0.47 | 0.54 | 0.07 | ||
| 2068 | 17.71 | 13.82 | -3.90 | ---- | 0.49 | 0.54 | 0.05 | ||
| 2069 | 17.79 | 13.82 | -3.96 | ---- | 0.51 | 0.54 | 0.03 | ||
| 2070 | 17.85 | 13.83 | -4.03 | ---- | 0.53 | 0.54 | 0.01 | ||
| 2071 | 17.92 | 13.83 | -4.09 | ---- | 0.54 | 0.54 | -0.00 | ||
| 2072 | 17.97 | 13.83 | -4.14 | ---- | 0.56 | 0.54 | -0.02 | ||
| 2073 | 18.03 | 13.84 | -4.19 | ---- | 0.58 | 0.54 | -0.03 | ||
| 2074 | 18.07 | 13.84 | -4.23 | ---- | 0.59 | 0.54 | -0.05 | ||
| 2075 | 18.11 | 13.84 | -4.26 | ---- | 0.60 | 0.54 | -0.06 | ||
| 2076 | 18.13 | 13.84 | -4.29 | ---- | 0.61 | 0.55 | -0.07 | ||
| 2077 | 18.15 | 13.84 | -4.31 | ---- | 0.63 | 0.55 | -0.08 | ||
| 2078 | 18.16 | 13.85 | -4.32 | ---- | 0.64 | 0.55 | -0.09 | ||
| 2079 | 18.16 | 13.85 | -4.32 | ---- | 0.65 | 0.55 | -0.10 | ||
| 2080 | 18.17 | 13.85 | -4.32 | ---- | 0.66 | 0.55 | -0.11 | ||
| 2081 | 18.17 | 13.85 | -4.32 | ---- | 0.66 | 0.55 | -0.12 | ||
| 2082 | 18.18 | 13.85 | -4.33 | ---- | 0.67 | 0.55 | -0.12 | ||
| 2083 | 18.19 | 13.85 | -4.35 | ---- | 0.68 | 0.55 | -0.13 | ||
| 2084 | 18.21 | 13.85 | -4.37 | ---- | 0.69 | 0.55 | -0.14 | ||
| 2085 | 18.24 | 13.85 | -4.39 | ---- | 0.69 | 0.55 | -0.14 | ||
| 2086 | 18.28 | 13.85 | -4.43 | ---- | 0.70 | 0.55 | -0.15 | ||
| 2087 | 18.32 | 13.85 | -4.47 | ---- | 0.70 | 0.55 | -0.16 | ||
| 2088 | 18.37 | 13.86 | -4.52 | ---- | 0.71 | 0.55 | -0.16 | ||
| 2089 | 18.42 | 13.86 | -4.56 | ---- | 0.72 | 0.55 | -0.17 | ||
| 2090 | 18.47 | 13.86 | -4.61 | ---- | 0.72 | 0.55 | -0.17 | ||
| 2091 | 18.52 | 13.86 | -4.66 | ---- | 0.73 | 0.55 | -0.18 | ||
| 2092 | 18.57 | 13.87 | -4.70 | ---- | 0.73 | 0.55 | -0.18 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2017-2091 | 16.92% | 14.26% | -2.66% | 2035 | 0.25% | 0.42% | 0.17% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2017 Trustees Report.