Description of Proposed Provision:
D7: Beginning in January 2021, require full time school enrollment as a condition of eligibility for child benefits at age 15 up to 18.
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 |
|||
| 2018 | 13.81 | 12.64 | -1.17 | 288 | 0.00 | 0.00 | 0.00 | ||
| 2019 | 13.95 | 12.87 | -1.08 | 272 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 14.12 | 12.89 | -1.23 | 256 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.27 | 12.92 | -1.35 | 239 | -0.00 | -0.00 | 0.00 | ||
| 2022 | 14.44 | 12.95 | -1.49 | 223 | -0.00 | -0.00 | 0.00 | ||
| 2023 | 14.62 | 12.97 | -1.65 | 206 | -0.00 | -0.00 | 0.00 | ||
| 2024 | 14.80 | 12.99 | -1.81 | 188 | -0.00 | -0.00 | 0.00 | ||
| 2025 | 14.98 | 13.01 | -1.97 | 171 | -0.00 | -0.00 | 0.00 | ||
| 2026 | 15.16 | 13.13 | -2.02 | 154 | -0.00 | -0.00 | 0.00 | ||
| 2027 | 15.36 | 13.15 | -2.21 | 137 | -0.00 | -0.00 | 0.00 | ||
| 2028 | 15.58 | 13.17 | -2.41 | 121 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.79 | 13.19 | -2.60 | 104 | -0.00 | -0.00 | 0.00 | ||
| 2030 | 15.98 | 13.20 | -2.78 | 87 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 16.16 | 13.22 | -2.94 | 69 | -0.00 | -0.00 | 0.00 | ||
| 2032 | 16.31 | 13.23 | -3.09 | 51 | -0.00 | -0.00 | 0.00 | ||
| 2033 | 16.45 | 13.24 | -3.21 | 33 | -0.00 | -0.00 | 0.00 | ||
| 2034 | 16.56 | 13.25 | -3.31 | 14 | -0.00 | -0.00 | 0.00 | ||
| 2035 | 16.65 | 13.25 | -3.39 | ---- | -0.00 | -0.00 | 0.00 | ||
| 2036 | 16.72 | 13.26 | -3.46 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2037 | 16.78 | 13.27 | -3.51 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2038 | 16.82 | 13.27 | -3.55 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2039 | 16.83 | 13.27 | -3.55 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2040 | 16.82 | 13.27 | -3.55 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2041 | 16.80 | 13.27 | -3.53 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2042 | 16.77 | 13.27 | -3.50 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2043 | 16.73 | 13.27 | -3.46 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2044 | 16.69 | 13.27 | -3.42 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2045 | 16.65 | 13.27 | -3.39 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2046 | 16.62 | 13.27 | -3.35 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2047 | 16.60 | 13.27 | -3.33 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2048 | 16.57 | 13.27 | -3.30 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2049 | 16.55 | 13.27 | -3.28 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2050 | 16.54 | 13.27 | -3.27 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2051 | 16.53 | 13.27 | -3.26 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2052 | 16.53 | 13.27 | -3.26 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2053 | 16.54 | 13.27 | -3.27 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2054 | 16.56 | 13.27 | -3.28 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2055 | 16.58 | 13.28 | -3.31 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2056 | 16.62 | 13.28 | -3.34 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2057 | 16.66 | 13.28 | -3.38 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2058 | 16.71 | 13.29 | -3.42 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2059 | 16.75 | 13.29 | -3.46 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2060 | 16.80 | 13.29 | -3.51 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2061 | 16.85 | 13.30 | -3.55 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2062 | 16.90 | 13.30 | -3.60 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2063 | 16.96 | 13.31 | -3.65 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2064 | 17.01 | 13.31 | -3.70 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2065 | 17.06 | 13.31 | -3.75 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2066 | 17.12 | 13.32 | -3.80 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2067 | 17.18 | 13.32 | -3.86 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2068 | 17.24 | 13.33 | -3.91 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2069 | 17.30 | 13.33 | -3.97 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2070 | 17.36 | 13.34 | -4.02 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2071 | 17.41 | 13.34 | -4.08 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2072 | 17.46 | 13.34 | -4.12 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2073 | 17.51 | 13.35 | -4.16 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2074 | 17.55 | 13.35 | -4.20 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2075 | 17.58 | 13.35 | -4.23 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2076 | 17.61 | 13.35 | -4.25 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2077 | 17.62 | 13.36 | -4.26 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2078 | 17.62 | 13.36 | -4.26 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2079 | 17.61 | 13.36 | -4.26 | ---- | -0.01 | -0.00 | 0.01 | ||
| 2080 | 17.60 | 13.36 | -4.25 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2081 | 17.58 | 13.35 | -4.23 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2082 | 17.57 | 13.35 | -4.21 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2083 | 17.55 | 13.35 | -4.20 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2084 | 17.53 | 13.35 | -4.18 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2085 | 17.53 | 13.35 | -4.17 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2086 | 17.52 | 13.35 | -4.17 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2087 | 17.53 | 13.35 | -4.18 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2088 | 17.54 | 13.35 | -4.19 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2089 | 17.56 | 13.35 | -4.21 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2090 | 17.59 | 13.35 | -4.24 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2091 | 17.63 | 13.36 | -4.27 | ---- | -0.01 | -0.00 | 0.00 | ||
| 2092 | 17.67 | 13.36 | -4.31 | ---- | -0.00 | -0.00 | 0.00 | ||
| 2093 | 17.72 | 13.36 | -4.36 | ---- | -0.00 | -0.00 | 0.00 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2018-2092 | 16.68% | 13.84% | -2.84% | 2034 | -0.00% | -0.00% | 0.00% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2018 Trustees Report.