Detailed Single Year Tables
Description of Proposed Provision:
A7: Starting December 2023, 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 |
|||
| 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 | 14.32 | 12.95 | -1.37 | 196 | -0.13 | -0.01 | 0.13 | ||
| 2025 | 14.40 | 12.96 | -1.44 | 181 | -0.26 | -0.01 | 0.25 | ||
| 2026 | 14.49 | 13.06 | -1.43 | 167 | -0.39 | -0.02 | 0.37 | ||
| 2027 | 14.58 | 13.08 | -1.50 | 153 | -0.52 | -0.03 | 0.50 | ||
| 2028 | 14.67 | 13.11 | -1.57 | 139 | -0.65 | -0.03 | 0.62 | ||
| 2029 | 14.75 | 13.13 | -1.61 | 126 | -0.78 | -0.04 | 0.74 | ||
| 2030 | 14.82 | 13.15 | -1.66 | 114 | -0.90 | -0.05 | 0.86 | ||
| 2031 | 14.88 | 13.17 | -1.71 | 101 | -1.02 | -0.06 | 0.97 | ||
| 2032 | 14.93 | 13.18 | -1.75 | 89 | -1.14 | -0.06 | 1.07 | ||
| 2033 | 14.96 | 13.19 | -1.78 | 78 | -1.24 | -0.07 | 1.17 | ||
| 2034 | 14.98 | 13.19 | -1.79 | 66 | -1.34 | -0.07 | 1.26 | ||
| 2035 | 14.99 | 13.19 | -1.80 | 55 | -1.43 | -0.08 | 1.35 | ||
| 2036 | 14.98 | 13.19 | -1.79 | 44 | -1.52 | -0.09 | 1.43 | ||
| 2037 | 14.98 | 13.20 | -1.78 | 32 | -1.60 | -0.09 | 1.51 | ||
| 2038 | 14.97 | 13.20 | -1.77 | 21 | -1.67 | -0.09 | 1.58 | ||
| 2039 | 14.95 | 13.20 | -1.75 | 9 | -1.74 | -0.10 | 1.64 | ||
| 2040 | 14.92 | 13.20 | -1.72 | ---- | -1.80 | -0.10 | 1.70 | ||
| 2041 | 14.88 | 13.20 | -1.69 | ---- | -1.85 | -0.11 | 1.75 | ||
| 2042 | 14.86 | 13.19 | -1.67 | ---- | -1.91 | -0.11 | 1.80 | ||
| 2043 | 14.83 | 13.19 | -1.64 | ---- | -1.95 | -0.11 | 1.84 | ||
| 2044 | 14.81 | 13.19 | -1.62 | ---- | -1.99 | -0.11 | 1.87 | ||
| 2045 | 14.80 | 13.19 | -1.61 | ---- | -2.02 | -0.12 | 1.91 | ||
| 2046 | 14.79 | 13.19 | -1.59 | ---- | -2.05 | -0.12 | 1.94 | ||
| 2047 | 14.78 | 13.19 | -1.59 | ---- | -2.08 | -0.12 | 1.96 | ||
| 2048 | 14.79 | 13.19 | -1.59 | ---- | -2.10 | -0.12 | 1.98 | ||
| 2049 | 14.79 | 13.19 | -1.60 | ---- | -2.12 | -0.12 | 2.00 | ||
| 2050 | 14.81 | 13.20 | -1.61 | ---- | -2.14 | -0.12 | 2.02 | ||
| 2051 | 14.83 | 13.20 | -1.63 | ---- | -2.16 | -0.12 | 2.03 | ||
| 2052 | 14.85 | 13.20 | -1.65 | ---- | -2.17 | -0.13 | 2.04 | ||
| 2053 | 14.88 | 13.20 | -1.67 | ---- | -2.18 | -0.13 | 2.05 | ||
| 2054 | 14.91 | 13.20 | -1.71 | ---- | -2.19 | -0.13 | 2.06 | ||
| 2055 | 14.95 | 13.21 | -1.74 | ---- | -2.20 | -0.13 | 2.07 | ||
| 2056 | 15.00 | 13.21 | -1.78 | ---- | -2.21 | -0.13 | 2.08 | ||
| 2057 | 15.05 | 13.22 | -1.83 | ---- | -2.22 | -0.13 | 2.09 | ||
| 2058 | 15.10 | 13.22 | -1.88 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2059 | 15.15 | 13.22 | -1.93 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2060 | 15.20 | 13.23 | -1.97 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2061 | 15.25 | 13.23 | -2.02 | ---- | -2.26 | -0.13 | 2.13 | ||
| 2062 | 15.30 | 13.24 | -2.06 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2063 | 15.34 | 13.24 | -2.10 | ---- | -2.29 | -0.13 | 2.15 | ||
| 2064 | 15.38 | 13.24 | -2.14 | ---- | -2.30 | -0.13 | 2.16 | ||
| 2065 | 15.42 | 13.25 | -2.17 | ---- | -2.31 | -0.14 | 2.18 | ||
| 2066 | 15.46 | 13.25 | -2.21 | ---- | -2.33 | -0.14 | 2.19 | ||
| 2067 | 15.49 | 13.25 | -2.24 | ---- | -2.34 | -0.14 | 2.20 | ||
| 2068 | 15.53 | 13.26 | -2.28 | ---- | -2.35 | -0.14 | 2.22 | ||
| 2069 | 15.57 | 13.26 | -2.32 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2070 | 15.62 | 13.26 | -2.36 | ---- | -2.38 | -0.14 | 2.24 | ||
| 2071 | 15.66 | 13.27 | -2.39 | ---- | -2.40 | -0.14 | 2.26 | ||
| 2072 | 15.70 | 13.27 | -2.43 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2073 | 15.74 | 13.27 | -2.46 | ---- | -2.43 | -0.14 | 2.28 | ||
| 2074 | 15.77 | 13.27 | -2.50 | ---- | -2.44 | -0.14 | 2.29 | ||
| 2075 | 15.80 | 13.28 | -2.53 | ---- | -2.45 | -0.15 | 2.31 | ||
| 2076 | 15.82 | 13.28 | -2.55 | ---- | -2.46 | -0.15 | 2.32 | ||
| 2077 | 15.84 | 13.28 | -2.56 | ---- | -2.47 | -0.15 | 2.33 | ||
| 2078 | 15.84 | 13.28 | -2.56 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2079 | 15.83 | 13.28 | -2.55 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2080 | 15.81 | 13.28 | -2.53 | ---- | -2.49 | -0.15 | 2.35 | ||
| 2081 | 15.78 | 13.28 | -2.50 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2082 | 15.74 | 13.28 | -2.47 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2083 | 15.70 | 13.27 | -2.43 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2084 | 15.66 | 13.27 | -2.38 | ---- | -2.50 | -0.15 | 2.36 | ||
| 2085 | 15.60 | 13.27 | -2.33 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2086 | 15.54 | 13.27 | -2.28 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2087 | 15.48 | 13.26 | -2.22 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2088 | 15.42 | 13.26 | -2.16 | ---- | -2.50 | -0.15 | 2.35 | ||
| 2089 | 15.36 | 13.25 | -2.11 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2090 | 15.31 | 13.25 | -2.06 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2091 | 15.26 | 13.25 | -2.02 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2092 | 15.23 | 13.24 | -1.98 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2093 | 15.20 | 13.24 | -1.96 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2094 | 15.19 | 13.24 | -1.94 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2095 | 15.18 | 13.24 | -1.94 | ---- | -2.46 | -0.15 | 2.32 | ||
| 2096 | 15.18 | 13.24 | -1.94 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2097 | 15.19 | 13.24 | -1.95 | ---- | -2.46 | -0.15 | 2.31 | ||
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 | 15.27% | 13.67% | -1.60% | 2039 | -1.93% | -0.11% | 1.82% | ||
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.