Detailed Single Year Tables
Description of Proposed Provision:
C1.3: Starting for those age 62 in 2025, index the normal retirement age (NRA) to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20). We assume the NRA will increase 1 month every 2 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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | -0.00 | 0.00 | 0.00 | ||
| 2026 | 15.19 | 13.07 | -2.12 | 152 | -0.01 | -0.00 | 0.01 | ||
| 2027 | 15.35 | 13.11 | -2.24 | 135 | -0.01 | -0.00 | 0.01 | ||
| 2028 | 15.40 | 13.13 | -2.27 | 118 | -0.02 | -0.00 | 0.02 | ||
| 2029 | 15.45 | 13.16 | -2.29 | 101 | -0.02 | -0.00 | 0.02 | ||
| 2030 | 15.50 | 13.18 | -2.32 | 85 | -0.03 | -0.00 | 0.03 | ||
| 2031 | 15.54 | 13.20 | -2.34 | 69 | -0.03 | -0.00 | 0.03 | ||
| 2032 | 15.57 | 13.22 | -2.35 | 54 | -0.04 | -0.00 | 0.04 | ||
| 2033 | 15.61 | 13.26 | -2.35 | 38 | -0.05 | -0.00 | 0.05 | ||
| 2034 | 15.71 | 13.27 | -2.44 | 24 | -0.06 | -0.00 | 0.06 | ||
| 2035 | 15.81 | 13.28 | -2.53 | 8 | -0.07 | -0.00 | 0.07 | ||
| 2036 | 15.90 | 13.29 | -2.61 | — | -0.09 | -0.00 | 0.09 | ||
| 2037 | 15.98 | 13.30 | -2.68 | — | -0.11 | -0.00 | 0.10 | ||
| 2038 | 16.05 | 13.31 | -2.74 | — | -0.12 | -0.00 | 0.12 | ||
| 2039 | 16.11 | 13.31 | -2.79 | — | -0.14 | -0.01 | 0.14 | ||
| 2040 | 16.16 | 13.32 | -2.84 | — | -0.16 | -0.01 | 0.15 | ||
| 2041 | 16.21 | 13.32 | -2.88 | — | -0.18 | -0.01 | 0.17 | ||
| 2042 | 16.24 | 13.33 | -2.91 | — | -0.19 | -0.01 | 0.19 | ||
| 2043 | 16.26 | 13.33 | -2.94 | — | -0.22 | -0.01 | 0.21 | ||
| 2044 | 16.28 | 13.33 | -2.95 | — | -0.24 | -0.01 | 0.23 | ||
| 2045 | 16.29 | 13.33 | -2.96 | — | -0.26 | -0.01 | 0.25 | ||
| 2046 | 16.30 | 13.34 | -2.96 | — | -0.29 | -0.01 | 0.28 | ||
| 2047 | 16.31 | 13.34 | -2.97 | — | -0.31 | -0.01 | 0.30 | ||
| 2048 | 16.32 | 13.34 | -2.98 | — | -0.34 | -0.02 | 0.33 | ||
| 2049 | 16.34 | 13.34 | -2.99 | — | -0.37 | -0.02 | 0.35 | ||
| 2050 | 16.36 | 13.35 | -3.01 | — | -0.40 | -0.02 | 0.38 | ||
| 2051 | 16.38 | 13.35 | -3.03 | — | -0.43 | -0.02 | 0.41 | ||
| 2052 | 16.41 | 13.35 | -3.06 | — | -0.46 | -0.02 | 0.44 | ||
| 2053 | 16.44 | 13.35 | -3.09 | — | -0.49 | -0.02 | 0.47 | ||
| 2054 | 16.48 | 13.36 | -3.12 | — | -0.52 | -0.03 | 0.50 | ||
| 2055 | 16.52 | 13.36 | -3.16 | — | -0.56 | -0.03 | 0.53 | ||
| 2056 | 16.57 | 13.37 | -3.20 | — | -0.59 | -0.03 | 0.56 | ||
| 2057 | 16.62 | 13.37 | -3.25 | — | -0.62 | -0.03 | 0.59 | ||
| 2058 | 16.68 | 13.38 | -3.30 | — | -0.65 | -0.03 | 0.62 | ||
| 2059 | 16.73 | 13.38 | -3.35 | — | -0.69 | -0.03 | 0.65 | ||
| 2060 | 16.78 | 13.39 | -3.40 | — | -0.72 | -0.04 | 0.68 | ||
| 2061 | 16.83 | 13.39 | -3.44 | — | -0.75 | -0.04 | 0.71 | ||
| 2062 | 16.87 | 13.40 | -3.47 | — | -0.78 | -0.04 | 0.74 | ||
| 2063 | 16.91 | 13.40 | -3.51 | — | -0.82 | -0.04 | 0.77 | ||
| 2064 | 16.94 | 13.40 | -3.54 | — | -0.85 | -0.04 | 0.80 | ||
| 2065 | 16.98 | 13.41 | -3.57 | — | -0.88 | -0.05 | 0.83 | ||
| 2066 | 17.01 | 13.41 | -3.60 | — | -0.91 | -0.05 | 0.86 | ||
| 2067 | 17.04 | 13.41 | -3.63 | — | -0.94 | -0.05 | 0.89 | ||
| 2068 | 17.08 | 13.42 | -3.66 | — | -0.97 | -0.05 | 0.92 | ||
| 2069 | 17.11 | 13.42 | -3.69 | — | -1.00 | -0.05 | 0.95 | ||
| 2070 | 17.15 | 13.42 | -3.72 | — | -1.03 | -0.05 | 0.98 | ||
| 2071 | 17.18 | 13.43 | -3.75 | — | -1.07 | -0.06 | 1.01 | ||
| 2072 | 17.21 | 13.43 | -3.78 | — | -1.11 | -0.06 | 1.05 | ||
| 2073 | 17.24 | 13.43 | -3.80 | — | -1.14 | -0.06 | 1.08 | ||
| 2074 | 17.26 | 13.44 | -3.82 | — | -1.17 | -0.06 | 1.11 | ||
| 2075 | 17.28 | 13.44 | -3.84 | — | -1.20 | -0.06 | 1.14 | ||
| 2076 | 17.29 | 13.44 | -3.85 | — | -1.24 | -0.07 | 1.17 | ||
| 2077 | 17.29 | 13.44 | -3.85 | — | -1.27 | -0.07 | 1.20 | ||
| 2078 | 17.29 | 13.44 | -3.84 | — | -1.30 | -0.07 | 1.23 | ||
| 2079 | 17.27 | 13.44 | -3.83 | — | -1.32 | -0.07 | 1.25 | ||
| 2080 | 17.25 | 13.44 | -3.80 | — | -1.35 | -0.07 | 1.28 | ||
| 2081 | 17.21 | 13.44 | -3.77 | — | -1.38 | -0.07 | 1.30 | ||
| 2082 | 17.17 | 13.44 | -3.73 | — | -1.40 | -0.08 | 1.32 | ||
| 2083 | 17.12 | 13.44 | -3.69 | — | -1.42 | -0.08 | 1.34 | ||
| 2084 | 17.07 | 13.43 | -3.64 | — | -1.44 | -0.08 | 1.36 | ||
| 2085 | 17.01 | 13.43 | -3.58 | — | -1.46 | -0.08 | 1.38 | ||
| 2086 | 16.95 | 13.43 | -3.52 | — | -1.47 | -0.08 | 1.39 | ||
| 2087 | 16.87 | 13.42 | -3.45 | — | -1.49 | -0.08 | 1.41 | ||
| 2088 | 16.79 | 13.42 | -3.38 | — | -1.51 | -0.08 | 1.43 | ||
| 2089 | 16.71 | 13.41 | -3.30 | — | -1.54 | -0.08 | 1.45 | ||
| 2090 | 16.62 | 13.41 | -3.22 | — | -1.57 | -0.09 | 1.48 | ||
| 2091 | 16.55 | 13.40 | -3.15 | — | -1.59 | -0.09 | 1.50 | ||
| 2092 | 16.49 | 13.40 | -3.09 | — | -1.62 | -0.09 | 1.53 | ||
| 2093 | 16.42 | 13.39 | -3.03 | — | -1.66 | -0.09 | 1.57 | ||
| 2094 | 16.37 | 13.39 | -2.98 | — | -1.70 | -0.09 | 1.61 | ||
| 2095 | 16.32 | 13.39 | -2.93 | — | -1.74 | -0.09 | 1.65 | ||
| 2096 | 16.27 | 13.39 | -2.88 | — | -1.81 | -0.10 | 1.71 | ||
| 2097 | 16.23 | 13.39 | -2.85 | — | -1.86 | -0.10 | 1.76 | ||
| 2098 | 16.22 | 13.39 | -2.84 | — | -1.90 | -0.10 | 1.80 | ||
| 2099 | 16.23 | 13.39 | -2.85 | — | -1.93 | -0.10 | 1.82 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 16.58% | 13.76% | -2.82% | 2035 | -0.71% | -0.04% | 0.68% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.