Detailed Single Year Tables

Description of Proposed Provision:
E2.14: Apply OASDI 12.4 percent payroll tax rate on earnings above $250,000 starting in 2026, and tax all earnings once the current-law taxable maximum exceeds $250,000. Provide benefit credit for earnings above the current-law taxable maximum that are subject to the payroll tax, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from annual earnings from each year after 2025 that were in excess of that year's current-law taxable maximum; and (2) a formula factor of 2 percent on this newly computed "AIME+".

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
202414.7113.03-1.68
188
0.000.000.00
202515.0012.89-2.11
171
0.000.000.00
202615.2014.92-0.28
152
0.001.851.85
202715.3615.09-0.27
146
-0.001.981.98
202815.4115.19-0.22
141
-0.002.062.06
202915.4715.29-0.17
137
-0.002.132.13
203015.5215.38-0.14
133
-0.002.202.21
203115.5715.48-0.09
130
-0.012.282.28
203215.6015.58-0.02
128
-0.012.362.37
203315.6515.700.05
126
-0.012.442.45
203415.7615.780.02
125
-0.012.502.51
203515.8715.79-0.08
125
-0.012.502.52
203615.9715.80-0.17
125
-0.022.512.52
203716.0715.81-0.26
124
-0.022.512.52
203816.1615.82-0.34
122
-0.022.512.53
203916.2315.83-0.40
121
-0.022.512.53
204016.3015.83-0.46
119
-0.022.512.53
204116.3615.84-0.52
116
-0.032.512.53
204216.4115.84-0.57
114
-0.032.512.54
204316.4515.85-0.61
111
-0.032.512.54
204416.4915.85-0.64
108
-0.032.512.54
204516.5215.86-0.67
105
-0.032.512.54
204616.5615.86-0.70
102
-0.032.512.54
204716.6015.86-0.73
99
-0.032.512.54
204816.6415.87-0.77
95
-0.032.512.54
204916.6815.87-0.81
91
-0.022.512.54
205016.7415.88-0.86
87
-0.022.522.54
205116.7915.88-0.91
82
-0.022.522.54
205216.8515.89-0.96
77
-0.022.522.53
205316.9215.90-1.02
72
-0.012.522.53
205416.9915.90-1.09
67
-0.012.522.53
205517.0715.91-1.16
61
-0.012.522.53
205617.1515.92-1.24
55
-0.002.522.53
205717.2415.93-1.32
48
-0.002.522.52
205817.3415.94-1.40
41
0.002.522.52
205917.4315.94-1.48
33
0.012.532.52
206017.5215.95-1.56
25
0.012.532.51
206117.6015.96-1.64
16
0.022.532.51
206217.6815.97-1.71
7
0.022.532.51
206317.7515.97-1.78
—
0.032.532.50
206417.8215.98-1.84
—
0.032.532.50
206517.8915.99-1.91
—
0.042.532.49
206617.9615.99-1.97
—
0.042.532.49
206718.0316.00-2.03
—
0.052.532.49
206818.1016.00-2.10
—
0.052.542.48
206918.1716.01-2.16
—
0.062.542.48
207018.2516.02-2.23
—
0.062.542.47
207118.3216.02-2.30
—
0.072.542.47
207218.3916.03-2.36
—
0.072.542.47
207318.4516.04-2.42
—
0.082.542.46
207418.5116.04-2.47
—
0.082.542.46
207518.5716.05-2.52
—
0.092.542.46
207618.6216.05-2.56
—
0.092.542.46
207718.6516.06-2.60
—
0.092.542.45
207818.6816.06-2.62
—
0.102.552.45
207918.6916.06-2.63
—
0.102.552.45
208018.7016.06-2.63
—
0.102.552.45
208118.6916.06-2.63
—
0.102.552.45
208218.6816.06-2.61
—
0.102.552.44
208318.6516.06-2.59
—
0.112.552.44
208418.6216.06-2.56
—
0.112.552.44
208518.5816.06-2.52
—
0.112.552.44
208618.5316.06-2.47
—
0.112.552.44
208718.4716.05-2.42
—
0.112.552.44
208818.4116.05-2.36
—
0.112.552.44
208918.3616.05-2.31
—
0.112.552.44
209018.3016.04-2.26
—
0.112.552.44
209118.2516.04-2.21
—
0.112.552.44
209218.2216.04-2.18
—
0.112.552.44
209318.1916.04-2.15
—
0.112.552.44
209418.1816.04-2.14
—
0.112.562.44
209518.1816.04-2.14
—
0.112.562.44
209618.1916.04-2.15
—
0.112.562.44
209718.2116.04-2.17
—
0.112.562.44
209818.2416.05-2.19
—
0.112.562.44
209918.2716.05-2.22
—
0.112.562.44

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 17.33% 16.21% -1.12% 2062 0.03% 2.41% 2.38%

1 Under current law, the year of Trust Fund reserve depletion is 2035.
Based on Intermediate Assumptions of the 2024 Trustees Report.