Detailed Single Year Tables
Description of Proposed Provision:
E3.19: Increase the taxable maximum such that 90 percent of earnings would be subject to the payroll tax (phased in linearly from 2026-2031). Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an "AIME+" derived from additional annual earnings taxed over the current-law taxable maximum; and (2) a formula factor of 2.5 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 |
|||
| 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 | 15.20 | 13.31 | -1.89 | 152 | 0.00 | 0.24 | 0.24 | ||
| 2027 | 15.36 | 13.57 | -1.79 | 136 | -0.00 | 0.47 | 0.47 | ||
| 2028 | 15.42 | 13.80 | -1.62 | 122 | -0.00 | 0.66 | 0.66 | ||
| 2029 | 15.47 | 13.99 | -1.47 | 109 | -0.00 | 0.83 | 0.83 | ||
| 2030 | 15.53 | 14.15 | -1.37 | 98 | -0.00 | 0.98 | 0.98 | ||
| 2031 | 15.57 | 14.31 | -1.26 | 88 | -0.00 | 1.11 | 1.11 | ||
| 2032 | 15.60 | 14.33 | -1.27 | 79 | -0.00 | 1.11 | 1.11 | ||
| 2033 | 15.66 | 14.36 | -1.29 | 70 | -0.00 | 1.10 | 1.10 | ||
| 2034 | 15.77 | 14.38 | -1.39 | 61 | -0.00 | 1.11 | 1.11 | ||
| 2035 | 15.88 | 14.40 | -1.48 | 53 | -0.01 | 1.11 | 1.12 | ||
| 2036 | 15.98 | 14.41 | -1.58 | 44 | -0.01 | 1.11 | 1.12 | ||
| 2037 | 16.08 | 14.42 | -1.67 | 34 | -0.01 | 1.11 | 1.12 | ||
| 2038 | 16.17 | 14.42 | -1.74 | 24 | -0.01 | 1.11 | 1.12 | ||
| 2039 | 16.24 | 14.43 | -1.81 | 13 | -0.01 | 1.11 | 1.12 | ||
| 2040 | 16.31 | 14.44 | -1.87 | 2 | -0.01 | 1.11 | 1.13 | ||
| 2041 | 16.37 | 14.45 | -1.93 | — | -0.01 | 1.12 | 1.13 | ||
| 2042 | 16.42 | 14.45 | -1.97 | — | -0.01 | 1.12 | 1.13 | ||
| 2043 | 16.47 | 14.46 | -2.01 | — | -0.01 | 1.12 | 1.13 | ||
| 2044 | 16.50 | 14.46 | -2.04 | — | -0.01 | 1.12 | 1.13 | ||
| 2045 | 16.54 | 14.47 | -2.07 | — | -0.01 | 1.12 | 1.13 | ||
| 2046 | 16.57 | 14.47 | -2.10 | — | -0.01 | 1.12 | 1.14 | ||
| 2047 | 16.61 | 14.48 | -2.13 | — | -0.01 | 1.13 | 1.14 | ||
| 2048 | 16.65 | 14.48 | -2.17 | — | -0.01 | 1.13 | 1.14 | ||
| 2049 | 16.70 | 14.49 | -2.21 | — | -0.01 | 1.13 | 1.14 | ||
| 2050 | 16.75 | 14.49 | -2.25 | — | -0.01 | 1.13 | 1.14 | ||
| 2051 | 16.80 | 14.50 | -2.30 | — | -0.01 | 1.13 | 1.14 | ||
| 2052 | 16.86 | 14.50 | -2.36 | — | -0.01 | 1.13 | 1.14 | ||
| 2053 | 16.92 | 14.51 | -2.41 | — | -0.01 | 1.13 | 1.14 | ||
| 2054 | 16.99 | 14.52 | -2.48 | — | -0.01 | 1.13 | 1.14 | ||
| 2055 | 17.07 | 14.52 | -2.55 | — | -0.01 | 1.13 | 1.14 | ||
| 2056 | 17.15 | 14.53 | -2.62 | — | -0.00 | 1.14 | 1.14 | ||
| 2057 | 17.24 | 14.54 | -2.70 | — | -0.00 | 1.14 | 1.14 | ||
| 2058 | 17.33 | 14.55 | -2.78 | — | -0.00 | 1.14 | 1.14 | ||
| 2059 | 17.42 | 14.56 | -2.86 | — | 0.00 | 1.14 | 1.14 | ||
| 2060 | 17.51 | 14.56 | -2.94 | — | 0.00 | 1.14 | 1.14 | ||
| 2061 | 17.59 | 14.57 | -3.02 | — | 0.01 | 1.14 | 1.13 | ||
| 2062 | 17.66 | 14.58 | -3.08 | — | 0.01 | 1.14 | 1.13 | ||
| 2063 | 17.73 | 14.59 | -3.15 | — | 0.01 | 1.14 | 1.13 | ||
| 2064 | 17.80 | 14.59 | -3.21 | — | 0.01 | 1.14 | 1.13 | ||
| 2065 | 17.87 | 14.60 | -3.27 | — | 0.02 | 1.14 | 1.13 | ||
| 2066 | 17.94 | 14.60 | -3.33 | — | 0.02 | 1.14 | 1.13 | ||
| 2067 | 18.00 | 14.61 | -3.39 | — | 0.02 | 1.15 | 1.13 | ||
| 2068 | 18.07 | 14.62 | -3.45 | — | 0.02 | 1.15 | 1.12 | ||
| 2069 | 18.14 | 14.62 | -3.52 | — | 0.03 | 1.15 | 1.12 | ||
| 2070 | 18.21 | 14.63 | -3.58 | — | 0.03 | 1.15 | 1.12 | ||
| 2071 | 18.28 | 14.64 | -3.65 | — | 0.03 | 1.15 | 1.12 | ||
| 2072 | 18.35 | 14.64 | -3.71 | — | 0.03 | 1.15 | 1.12 | ||
| 2073 | 18.41 | 14.65 | -3.76 | — | 0.04 | 1.15 | 1.12 | ||
| 2074 | 18.47 | 14.65 | -3.82 | — | 0.04 | 1.16 | 1.12 | ||
| 2075 | 18.53 | 14.66 | -3.87 | — | 0.04 | 1.16 | 1.11 | ||
| 2076 | 18.57 | 14.66 | -3.91 | — | 0.04 | 1.16 | 1.11 | ||
| 2077 | 18.61 | 14.67 | -3.94 | — | 0.05 | 1.16 | 1.11 | ||
| 2078 | 18.63 | 14.67 | -3.96 | — | 0.05 | 1.16 | 1.11 | ||
| 2079 | 18.64 | 14.67 | -3.97 | — | 0.05 | 1.16 | 1.11 | ||
| 2080 | 18.65 | 14.68 | -3.97 | — | 0.05 | 1.16 | 1.11 | ||
| 2081 | 18.64 | 14.68 | -3.96 | — | 0.05 | 1.16 | 1.11 | ||
| 2082 | 18.62 | 14.68 | -3.95 | — | 0.05 | 1.16 | 1.11 | ||
| 2083 | 18.60 | 14.68 | -3.92 | — | 0.05 | 1.16 | 1.11 | ||
| 2084 | 18.57 | 14.68 | -3.89 | — | 0.05 | 1.16 | 1.11 | ||
| 2085 | 18.53 | 14.67 | -3.85 | — | 0.06 | 1.17 | 1.11 | ||
| 2086 | 18.48 | 14.67 | -3.80 | — | 0.06 | 1.17 | 1.11 | ||
| 2087 | 18.42 | 14.67 | -3.75 | — | 0.06 | 1.17 | 1.11 | ||
| 2088 | 18.36 | 14.67 | -3.69 | — | 0.06 | 1.17 | 1.11 | ||
| 2089 | 18.30 | 14.66 | -3.64 | — | 0.06 | 1.17 | 1.11 | ||
| 2090 | 18.25 | 14.66 | -3.59 | — | 0.06 | 1.17 | 1.11 | ||
| 2091 | 18.20 | 14.66 | -3.54 | — | 0.06 | 1.17 | 1.11 | ||
| 2092 | 18.16 | 14.65 | -3.51 | — | 0.06 | 1.17 | 1.11 | ||
| 2093 | 18.14 | 14.65 | -3.48 | — | 0.06 | 1.17 | 1.11 | ||
| 2094 | 18.13 | 14.65 | -3.47 | — | 0.06 | 1.17 | 1.11 | ||
| 2095 | 18.13 | 14.65 | -3.47 | — | 0.06 | 1.17 | 1.11 | ||
| 2096 | 18.14 | 14.66 | -3.48 | — | 0.06 | 1.17 | 1.11 | ||
| 2097 | 18.15 | 14.66 | -3.50 | — | 0.06 | 1.17 | 1.11 | ||
| 2098 | 18.18 | 14.66 | -3.52 | — | 0.06 | 1.17 | 1.11 | ||
| 2099 | 18.22 | 14.66 | -3.55 | — | 0.06 | 1.17 | 1.11 | ||
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 | 17.31% | 14.87% | -2.44% | 2040 | 0.01% | 1.07% | 1.05% | ||
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.