Detailed Single Year Tables
Description of Proposed Provision:
E3.6: Increase the taxable maximum each year by an additional 2 percent beginning in 2024 until taxable earnings equal 90 percent of covered earnings. Do not provide benefit credit for additional earnings taxed.
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 |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.91 | -1.52 | 214 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.98 | -1.65 | 196 | 0.00 | 0.04 | 0.04 | ||
| 2025 | 14.86 | 13.04 | -1.82 | 178 | -0.00 | 0.08 | 0.08 | ||
| 2026 | 15.10 | 13.20 | -1.91 | 160 | -0.00 | 0.12 | 0.12 | ||
| 2027 | 15.36 | 13.26 | -2.10 | 143 | -0.00 | 0.16 | 0.16 | ||
| 2028 | 15.62 | 13.33 | -2.29 | 125 | -0.00 | 0.20 | 0.20 | ||
| 2029 | 15.87 | 13.40 | -2.47 | 107 | -0.00 | 0.23 | 0.23 | ||
| 2030 | 16.11 | 13.46 | -2.65 | 90 | -0.00 | 0.27 | 0.27 | ||
| 2031 | 16.28 | 13.51 | -2.78 | 72 | -0.00 | 0.30 | 0.30 | ||
| 2032 | 16.43 | 13.55 | -2.88 | 55 | -0.00 | 0.34 | 0.34 | ||
| 2033 | 16.55 | 13.60 | -2.96 | 37 | -0.00 | 0.37 | 0.37 | ||
| 2034 | 16.65 | 13.64 | -3.01 | 19 | -0.00 | 0.40 | 0.41 | ||
| 2035 | 16.73 | 13.68 | -3.05 | 2 | -0.01 | 0.43 | 0.44 | ||
| 2036 | 16.79 | 13.72 | -3.08 | ---- | -0.01 | 0.46 | 0.47 | ||
| 2037 | 16.85 | 13.75 | -3.10 | ---- | -0.01 | 0.49 | 0.50 | ||
| 2038 | 16.90 | 13.79 | -3.12 | ---- | -0.01 | 0.53 | 0.54 | ||
| 2039 | 16.94 | 13.82 | -3.12 | ---- | -0.01 | 0.55 | 0.57 | ||
| 2040 | 16.96 | 13.85 | -3.11 | ---- | -0.01 | 0.58 | 0.60 | ||
| 2041 | 17.00 | 13.88 | -3.12 | ---- | -0.02 | 0.61 | 0.63 | ||
| 2042 | 17.02 | 13.91 | -3.11 | ---- | -0.02 | 0.64 | 0.66 | ||
| 2043 | 17.02 | 13.94 | -3.08 | ---- | -0.02 | 0.66 | 0.68 | ||
| 2044 | 17.02 | 13.97 | -3.05 | ---- | -0.02 | 0.69 | 0.71 | ||
| 2045 | 17.02 | 13.99 | -3.03 | ---- | -0.03 | 0.72 | 0.74 | ||
| 2046 | 17.03 | 14.02 | -3.01 | ---- | -0.03 | 0.74 | 0.77 | ||
| 2047 | 17.04 | 14.05 | -3.00 | ---- | -0.03 | 0.76 | 0.80 | ||
| 2048 | 17.06 | 14.07 | -2.99 | ---- | -0.03 | 0.79 | 0.82 | ||
| 2049 | 17.08 | 14.10 | -2.98 | ---- | -0.04 | 0.81 | 0.85 | ||
| 2050 | 17.10 | 14.12 | -2.97 | ---- | -0.04 | 0.83 | 0.87 | ||
| 2051 | 17.12 | 14.15 | -2.97 | ---- | -0.04 | 0.86 | 0.90 | ||
| 2052 | 17.14 | 14.17 | -2.97 | ---- | -0.05 | 0.88 | 0.93 | ||
| 2053 | 17.17 | 14.20 | -2.97 | ---- | -0.05 | 0.90 | 0.95 | ||
| 2054 | 17.20 | 14.22 | -2.98 | ---- | -0.05 | 0.92 | 0.97 | ||
| 2055 | 17.23 | 14.25 | -2.99 | ---- | -0.06 | 0.94 | 1.00 | ||
| 2056 | 17.28 | 14.27 | -3.00 | ---- | -0.06 | 0.96 | 1.02 | ||
| 2057 | 17.32 | 14.30 | -3.02 | ---- | -0.07 | 0.98 | 1.05 | ||
| 2058 | 17.37 | 14.32 | -3.05 | ---- | -0.07 | 1.00 | 1.07 | ||
| 2059 | 17.42 | 14.34 | -3.07 | ---- | -0.07 | 1.02 | 1.09 | ||
| 2060 | 17.47 | 14.37 | -3.11 | ---- | -0.08 | 1.04 | 1.11 | ||
| 2061 | 17.52 | 14.37 | -3.15 | ---- | -0.08 | 1.04 | 1.12 | ||
| 2062 | 17.57 | 14.38 | -3.19 | ---- | -0.08 | 1.04 | 1.12 | ||
| 2063 | 17.62 | 14.38 | -3.24 | ---- | -0.09 | 1.04 | 1.13 | ||
| 2064 | 17.66 | 14.39 | -3.28 | ---- | -0.09 | 1.04 | 1.13 | ||
| 2065 | 17.71 | 14.39 | -3.32 | ---- | -0.09 | 1.04 | 1.13 | ||
| 2066 | 17.76 | 14.39 | -3.36 | ---- | -0.10 | 1.04 | 1.14 | ||
| 2067 | 17.81 | 14.40 | -3.41 | ---- | -0.10 | 1.04 | 1.14 | ||
| 2068 | 17.85 | 14.40 | -3.45 | ---- | -0.10 | 1.04 | 1.14 | ||
| 2069 | 17.91 | 14.41 | -3.50 | ---- | -0.10 | 1.04 | 1.15 | ||
| 2070 | 17.96 | 14.41 | -3.55 | ---- | -0.11 | 1.04 | 1.15 | ||
| 2071 | 18.01 | 14.42 | -3.60 | ---- | -0.11 | 1.04 | 1.15 | ||
| 2072 | 18.06 | 14.42 | -3.64 | ---- | -0.11 | 1.04 | 1.16 | ||
| 2073 | 18.11 | 14.43 | -3.69 | ---- | -0.11 | 1.04 | 1.16 | ||
| 2074 | 18.16 | 14.43 | -3.73 | ---- | -0.12 | 1.04 | 1.16 | ||
| 2075 | 18.20 | 14.43 | -3.76 | ---- | -0.12 | 1.04 | 1.16 | ||
| 2076 | 18.23 | 14.44 | -3.79 | ---- | -0.12 | 1.05 | 1.17 | ||
| 2077 | 18.25 | 14.44 | -3.81 | ---- | -0.12 | 1.05 | 1.17 | ||
| 2078 | 18.25 | 14.44 | -3.81 | ---- | -0.12 | 1.05 | 1.17 | ||
| 2079 | 18.25 | 14.44 | -3.80 | ---- | -0.12 | 1.05 | 1.17 | ||
| 2080 | 18.23 | 14.44 | -3.79 | ---- | -0.12 | 1.05 | 1.17 | ||
| 2081 | 18.20 | 14.44 | -3.76 | ---- | -0.13 | 1.05 | 1.17 | ||
| 2082 | 18.17 | 14.44 | -3.73 | ---- | -0.13 | 1.05 | 1.17 | ||
| 2083 | 18.12 | 14.44 | -3.68 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2084 | 18.07 | 14.44 | -3.63 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2085 | 18.01 | 14.44 | -3.58 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2086 | 17.95 | 14.43 | -3.52 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2087 | 17.88 | 14.43 | -3.45 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2088 | 17.81 | 14.42 | -3.39 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2089 | 17.74 | 14.42 | -3.32 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2090 | 17.69 | 14.42 | -3.27 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2091 | 17.64 | 14.42 | -3.23 | ---- | -0.13 | 1.05 | 1.18 | ||
| 2092 | 17.61 | 14.41 | -3.19 | ---- | -0.13 | 1.06 | 1.18 | ||
| 2093 | 17.59 | 14.41 | -3.17 | ---- | -0.12 | 1.06 | 1.18 | ||
| 2094 | 17.58 | 14.41 | -3.16 | ---- | -0.12 | 1.06 | 1.18 | ||
| 2095 | 17.58 | 14.41 | -3.16 | ---- | -0.12 | 1.06 | 1.18 | ||
| 2096 | 17.58 | 14.42 | -3.17 | ---- | -0.12 | 1.06 | 1.18 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2021-2095 | 17.25% | 14.53% | -2.73% | 2035 | -0.06% | 0.75% | 0.81% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.