Detailed Single Year Tables
Description of Proposed Provision:
A7: Starting December 2020, reduce the annual COLA by 1 percentage point, but not to less than zero. In cases where the unreduced COLA is less than 1 percentage point, do not carry over the unused reduction into future years.
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 |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 13.96 | 12.89 | -1.07 | 247 | -0.13 | -0.00 | 0.12 | ||
| 2022 | 13.98 | 12.91 | -1.07 | 234 | -0.25 | -0.01 | 0.24 | ||
| 2023 | 14.02 | 12.92 | -1.10 | 222 | -0.38 | -0.02 | 0.36 | ||
| 2024 | 14.08 | 12.95 | -1.14 | 209 | -0.50 | -0.02 | 0.48 | ||
| 2025 | 14.16 | 12.96 | -1.20 | 196 | -0.63 | -0.03 | 0.60 | ||
| 2026 | 14.24 | 13.07 | -1.17 | 184 | -0.75 | -0.04 | 0.71 | ||
| 2027 | 14.33 | 13.09 | -1.24 | 172 | -0.86 | -0.04 | 0.82 | ||
| 2028 | 14.45 | 13.12 | -1.33 | 161 | -0.98 | -0.05 | 0.93 | ||
| 2029 | 14.54 | 13.13 | -1.40 | 150 | -1.09 | -0.06 | 1.03 | ||
| 2030 | 14.61 | 13.14 | -1.47 | 140 | -1.19 | -0.06 | 1.13 | ||
| 2031 | 14.68 | 13.15 | -1.53 | 129 | -1.29 | -0.07 | 1.22 | ||
| 2032 | 14.73 | 13.15 | -1.57 | 119 | -1.38 | -0.07 | 1.31 | ||
| 2033 | 14.76 | 13.16 | -1.61 | 109 | -1.47 | -0.08 | 1.39 | ||
| 2034 | 14.78 | 13.16 | -1.62 | 100 | -1.55 | -0.08 | 1.46 | ||
| 2035 | 14.78 | 13.16 | -1.62 | 90 | -1.62 | -0.09 | 1.53 | ||
| 2036 | 14.77 | 13.16 | -1.61 | 80 | -1.69 | -0.09 | 1.59 | ||
| 2037 | 14.77 | 13.17 | -1.60 | 70 | -1.75 | -0.10 | 1.65 | ||
| 2038 | 14.76 | 13.17 | -1.59 | 60 | -1.80 | -0.10 | 1.70 | ||
| 2039 | 14.75 | 13.17 | -1.58 | 51 | -1.86 | -0.10 | 1.75 | ||
| 2040 | 14.71 | 13.17 | -1.55 | 41 | -1.90 | -0.11 | 1.80 | ||
| 2041 | 14.67 | 13.17 | -1.50 | 31 | -1.94 | -0.11 | 1.83 | ||
| 2042 | 14.62 | 13.16 | -1.45 | 21 | -1.97 | -0.11 | 1.86 | ||
| 2043 | 14.56 | 13.16 | -1.40 | 12 | -2.00 | -0.11 | 1.89 | ||
| 2044 | 14.50 | 13.16 | -1.34 | 3 | -2.02 | -0.11 | 1.91 | ||
| 2045 | 14.45 | 13.16 | -1.29 | ---- | -2.04 | -0.11 | 1.92 | ||
| 2046 | 14.40 | 13.15 | -1.25 | ---- | -2.05 | -0.12 | 1.94 | ||
| 2047 | 14.36 | 13.15 | -1.21 | ---- | -2.06 | -0.12 | 1.95 | ||
| 2048 | 14.33 | 13.15 | -1.18 | ---- | -2.07 | -0.12 | 1.95 | ||
| 2049 | 14.31 | 13.15 | -1.16 | ---- | -2.08 | -0.12 | 1.96 | ||
| 2050 | 14.29 | 13.15 | -1.13 | ---- | -2.08 | -0.12 | 1.96 | ||
| 2051 | 14.28 | 13.15 | -1.12 | ---- | -2.08 | -0.12 | 1.97 | ||
| 2052 | 14.28 | 13.15 | -1.12 | ---- | -2.09 | -0.12 | 1.97 | ||
| 2053 | 14.28 | 13.15 | -1.13 | ---- | -2.09 | -0.12 | 1.97 | ||
| 2054 | 14.29 | 13.16 | -1.14 | ---- | -2.09 | -0.12 | 1.97 | ||
| 2055 | 14.32 | 13.16 | -1.16 | ---- | -2.09 | -0.12 | 1.97 | ||
| 2056 | 14.34 | 13.16 | -1.18 | ---- | -2.10 | -0.12 | 1.98 | ||
| 2057 | 14.38 | 13.16 | -1.21 | ---- | -2.10 | -0.12 | 1.98 | ||
| 2058 | 14.42 | 13.17 | -1.25 | ---- | -2.11 | -0.12 | 1.99 | ||
| 2059 | 14.46 | 13.17 | -1.29 | ---- | -2.12 | -0.12 | 1.99 | ||
| 2060 | 14.50 | 13.18 | -1.33 | ---- | -2.12 | -0.12 | 2.00 | ||
| 2061 | 14.55 | 13.18 | -1.37 | ---- | -2.13 | -0.12 | 2.01 | ||
| 2062 | 14.59 | 13.18 | -1.41 | ---- | -2.14 | -0.12 | 2.02 | ||
| 2063 | 14.63 | 13.19 | -1.45 | ---- | -2.15 | -0.12 | 2.03 | ||
| 2064 | 14.68 | 13.19 | -1.49 | ---- | -2.17 | -0.12 | 2.04 | ||
| 2065 | 14.72 | 13.19 | -1.53 | ---- | -2.18 | -0.13 | 2.05 | ||
| 2066 | 14.76 | 13.19 | -1.57 | ---- | -2.19 | -0.13 | 2.06 | ||
| 2067 | 14.81 | 13.20 | -1.61 | ---- | -2.20 | -0.13 | 2.08 | ||
| 2068 | 14.86 | 13.20 | -1.66 | ---- | -2.22 | -0.13 | 2.09 | ||
| 2069 | 14.91 | 13.21 | -1.70 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2070 | 14.95 | 13.21 | -1.75 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2071 | 15.00 | 13.21 | -1.79 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2072 | 15.04 | 13.21 | -1.82 | ---- | -2.27 | -0.13 | 2.13 | ||
| 2073 | 15.07 | 13.22 | -1.85 | ---- | -2.28 | -0.13 | 2.15 | ||
| 2074 | 15.10 | 13.22 | -1.88 | ---- | -2.29 | -0.13 | 2.16 | ||
| 2075 | 15.13 | 13.22 | -1.91 | ---- | -2.30 | -0.13 | 2.17 | ||
| 2076 | 15.15 | 13.22 | -1.92 | ---- | -2.31 | -0.13 | 2.18 | ||
| 2077 | 15.16 | 13.23 | -1.93 | ---- | -2.32 | -0.14 | 2.18 | ||
| 2078 | 15.16 | 13.23 | -1.93 | ---- | -2.33 | -0.14 | 2.19 | ||
| 2079 | 15.14 | 13.22 | -1.92 | ---- | -2.33 | -0.14 | 2.20 | ||
| 2080 | 15.12 | 13.22 | -1.90 | ---- | -2.34 | -0.14 | 2.20 | ||
| 2081 | 15.10 | 13.22 | -1.88 | ---- | -2.34 | -0.14 | 2.21 | ||
| 2082 | 15.08 | 13.22 | -1.85 | ---- | -2.35 | -0.14 | 2.21 | ||
| 2083 | 15.05 | 13.22 | -1.83 | ---- | -2.35 | -0.14 | 2.21 | ||
| 2084 | 15.02 | 13.22 | -1.81 | ---- | -2.35 | -0.14 | 2.22 | ||
| 2085 | 15.00 | 13.22 | -1.78 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2086 | 14.98 | 13.22 | -1.77 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2087 | 14.97 | 13.21 | -1.75 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2088 | 14.97 | 13.21 | -1.75 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2089 | 14.97 | 13.21 | -1.76 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2090 | 14.99 | 13.22 | -1.78 | ---- | -2.36 | -0.14 | 2.23 | ||
| 2091 | 15.02 | 13.22 | -1.80 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2092 | 15.06 | 13.22 | -1.84 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2093 | 15.10 | 13.22 | -1.88 | ---- | -2.38 | -0.14 | 2.24 | ||
| 2094 | 15.14 | 13.23 | -1.92 | ---- | -2.38 | -0.14 | 2.24 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 14.78% | 13.71% | -1.07% | 2044 | -1.82% | -0.10% | 1.72% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.