Detailed Single Year Tables
Description of Proposed Provision:
A1: Starting December 2023, reduce the annual COLA by 1 percentage point.
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 |
|||
| 2022 | 14.05 | 12.79 | -1.26 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.31 | 13.04 | -1.27 | 211 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.31 | 12.95 | -1.36 | 196 | -0.14 | -0.01 | 0.13 | ||
| 2025 | 14.38 | 12.96 | -1.42 | 181 | -0.28 | -0.01 | 0.27 | ||
| 2026 | 14.46 | 13.06 | -1.41 | 167 | -0.42 | -0.02 | 0.40 | ||
| 2027 | 14.54 | 13.07 | -1.47 | 153 | -0.56 | -0.03 | 0.53 | ||
| 2028 | 14.63 | 13.11 | -1.52 | 140 | -0.70 | -0.04 | 0.66 | ||
| 2029 | 14.70 | 13.13 | -1.56 | 128 | -0.83 | -0.04 | 0.79 | ||
| 2030 | 14.76 | 13.15 | -1.61 | 115 | -0.96 | -0.05 | 0.91 | ||
| 2031 | 14.82 | 13.17 | -1.64 | 103 | -1.09 | -0.06 | 1.03 | ||
| 2032 | 14.86 | 13.18 | -1.68 | 92 | -1.21 | -0.07 | 1.14 | ||
| 2033 | 14.88 | 13.18 | -1.70 | 80 | -1.32 | -0.07 | 1.25 | ||
| 2034 | 14.90 | 13.19 | -1.71 | 69 | -1.43 | -0.08 | 1.35 | ||
| 2035 | 14.90 | 13.19 | -1.71 | 59 | -1.52 | -0.09 | 1.44 | ||
| 2036 | 14.88 | 13.19 | -1.70 | 48 | -1.61 | -0.09 | 1.52 | ||
| 2037 | 14.88 | 13.19 | -1.69 | 37 | -1.70 | -0.10 | 1.60 | ||
| 2038 | 14.86 | 13.19 | -1.67 | 26 | -1.78 | -0.10 | 1.68 | ||
| 2039 | 14.84 | 13.19 | -1.65 | 16 | -1.85 | -0.11 | 1.74 | ||
| 2040 | 14.81 | 13.19 | -1.62 | 5 | -1.91 | -0.11 | 1.80 | ||
| 2041 | 14.77 | 13.19 | -1.58 | ---- | -1.97 | -0.11 | 1.86 | ||
| 2042 | 14.74 | 13.19 | -1.55 | ---- | -2.02 | -0.12 | 1.91 | ||
| 2043 | 14.71 | 13.19 | -1.53 | ---- | -2.07 | -0.12 | 1.95 | ||
| 2044 | 14.69 | 13.19 | -1.51 | ---- | -2.11 | -0.12 | 1.99 | ||
| 2045 | 14.67 | 13.18 | -1.49 | ---- | -2.15 | -0.12 | 2.03 | ||
| 2046 | 14.66 | 13.18 | -1.47 | ---- | -2.18 | -0.13 | 2.06 | ||
| 2047 | 14.65 | 13.18 | -1.47 | ---- | -2.21 | -0.13 | 2.08 | ||
| 2048 | 14.66 | 13.19 | -1.47 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2049 | 14.66 | 13.19 | -1.48 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2050 | 14.68 | 13.19 | -1.49 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2051 | 14.69 | 13.19 | -1.50 | ---- | -2.29 | -0.13 | 2.16 | ||
| 2052 | 14.71 | 13.19 | -1.52 | ---- | -2.30 | -0.13 | 2.17 | ||
| 2053 | 14.74 | 13.19 | -1.55 | ---- | -2.31 | -0.13 | 2.18 | ||
| 2054 | 14.78 | 13.20 | -1.58 | ---- | -2.32 | -0.13 | 2.19 | ||
| 2055 | 14.82 | 13.20 | -1.62 | ---- | -2.33 | -0.14 | 2.20 | ||
| 2056 | 14.86 | 13.20 | -1.66 | ---- | -2.34 | -0.14 | 2.21 | ||
| 2057 | 14.91 | 13.21 | -1.70 | ---- | -2.35 | -0.14 | 2.22 | ||
| 2058 | 14.96 | 13.21 | -1.75 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2059 | 15.01 | 13.22 | -1.80 | ---- | -2.37 | -0.14 | 2.24 | ||
| 2060 | 15.07 | 13.22 | -1.84 | ---- | -2.39 | -0.14 | 2.25 | ||
| 2061 | 15.11 | 13.22 | -1.89 | ---- | -2.40 | -0.14 | 2.26 | ||
| 2062 | 15.16 | 13.23 | -1.93 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2063 | 15.20 | 13.23 | -1.97 | ---- | -2.43 | -0.14 | 2.28 | ||
| 2064 | 15.24 | 13.24 | -2.00 | ---- | -2.44 | -0.14 | 2.30 | ||
| 2065 | 15.28 | 13.24 | -2.04 | ---- | -2.45 | -0.14 | 2.31 | ||
| 2066 | 15.31 | 13.24 | -2.07 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2067 | 15.35 | 13.24 | -2.11 | ---- | -2.48 | -0.15 | 2.34 | ||
| 2068 | 15.39 | 13.25 | -2.14 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2069 | 15.43 | 13.25 | -2.18 | ---- | -2.51 | -0.15 | 2.37 | ||
| 2070 | 15.47 | 13.25 | -2.22 | ---- | -2.53 | -0.15 | 2.38 | ||
| 2071 | 15.51 | 13.26 | -2.26 | ---- | -2.54 | -0.15 | 2.39 | ||
| 2072 | 15.55 | 13.26 | -2.29 | ---- | -2.56 | -0.15 | 2.41 | ||
| 2073 | 15.59 | 13.26 | -2.33 | ---- | -2.57 | -0.15 | 2.42 | ||
| 2074 | 15.62 | 13.27 | -2.36 | ---- | -2.59 | -0.15 | 2.43 | ||
| 2075 | 15.65 | 13.27 | -2.38 | ---- | -2.60 | -0.15 | 2.45 | ||
| 2076 | 15.67 | 13.27 | -2.40 | ---- | -2.61 | -0.16 | 2.46 | ||
| 2077 | 15.69 | 13.27 | -2.42 | ---- | -2.62 | -0.16 | 2.47 | ||
| 2078 | 15.69 | 13.27 | -2.41 | ---- | -2.63 | -0.16 | 2.48 | ||
| 2079 | 15.68 | 13.27 | -2.40 | ---- | -2.64 | -0.16 | 2.48 | ||
| 2080 | 15.65 | 13.27 | -2.38 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2081 | 15.63 | 13.27 | -2.36 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2082 | 15.59 | 13.27 | -2.32 | ---- | -2.65 | -0.16 | 2.50 | ||
| 2083 | 15.55 | 13.27 | -2.28 | ---- | -2.66 | -0.16 | 2.50 | ||
| 2084 | 15.50 | 13.26 | -2.24 | ---- | -2.66 | -0.16 | 2.50 | ||
| 2085 | 15.45 | 13.26 | -2.19 | ---- | -2.66 | -0.16 | 2.50 | ||
| 2086 | 15.39 | 13.26 | -2.14 | ---- | -2.65 | -0.16 | 2.50 | ||
| 2087 | 15.33 | 13.25 | -2.08 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2088 | 15.27 | 13.25 | -2.02 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2089 | 15.21 | 13.24 | -1.97 | ---- | -2.64 | -0.16 | 2.48 | ||
| 2090 | 15.16 | 13.24 | -1.92 | ---- | -2.64 | -0.16 | 2.48 | ||
| 2091 | 15.11 | 13.24 | -1.87 | ---- | -2.63 | -0.16 | 2.47 | ||
| 2092 | 15.08 | 13.24 | -1.84 | ---- | -2.63 | -0.16 | 2.47 | ||
| 2093 | 15.05 | 13.23 | -1.82 | ---- | -2.62 | -0.16 | 2.46 | ||
| 2094 | 15.04 | 13.23 | -1.80 | ---- | -2.62 | -0.16 | 2.46 | ||
| 2095 | 15.03 | 13.23 | -1.80 | ---- | -2.61 | -0.16 | 2.46 | ||
| 2096 | 15.03 | 13.23 | -1.80 | ---- | -2.61 | -0.16 | 2.45 | ||
| 2097 | 15.04 | 13.23 | -1.81 | ---- | -2.61 | -0.16 | 2.45 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2022-2096 | 15.15% | 13.66% | -1.49% | 2040 | -2.05% | -0.12% | 1.93% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2022 Trustees Report.