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Detailed Single Year Tables

Description of Proposed Provision:
Apply 12.4 percent payroll tax rate on earnings above $250,000 starting in 2013, and tax all earnings once the current-law taxable maximum exceeds $250,000. Do not provide benefit credit for additional earnings taxed.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201213.8312.89-0.93
340
0.000.000.00
201313.9514.000.05
329
0.001.171.17
201413.9814.230.24
323
0.001.291.29
201513.9714.310.34
319
0.001.361.36
201613.9414.400.46
315
0.001.421.42
201713.9114.480.57
313
0.001.481.48
201813.9614.560.60
310
0.001.531.53
201914.1314.610.48
308
0.001.561.56
202014.3714.660.29
304
0.001.591.59
202114.6514.730.07
300
0.001.621.62
202214.9714.80-0.17
295
0.001.671.67
202315.2814.87-0.42
289
-0.011.721.73
202415.5914.93-0.65
283
-0.011.771.78
202515.8715.00-0.87
276
-0.011.821.83
202616.1415.08-1.06
270
-0.011.881.89
202716.4015.15-1.25
263
-0.011.941.95
202816.6215.23-1.39
256
-0.012.002.02
202916.8215.31-1.51
248
-0.022.072.09
203016.9915.39-1.60
240
-0.022.142.16
203117.1315.47-1.65
232
-0.022.222.23
203217.2315.56-1.67
225
-0.022.292.31
203317.3115.60-1.71
217
-0.022.332.35
203417.3515.61-1.75
209
-0.022.332.35
203517.3815.61-1.77
202
-0.032.332.36
203617.4015.61-1.79
194
-0.032.332.36
203717.4015.62-1.79
186
-0.032.332.36
203817.3915.62-1.77
179
-0.032.332.36
203917.3615.62-1.74
171
-0.032.332.37
204017.3215.62-1.71
164
-0.032.332.37
204117.2815.62-1.67
157
-0.042.342.37
204217.2415.62-1.63
150
-0.042.342.37
204317.2015.62-1.59
143
-0.042.342.38
204417.1715.61-1.55
136
-0.042.342.38
204517.1415.61-1.53
129
-0.042.342.38
204617.1115.62-1.50
122
-0.052.342.39
204717.0915.62-1.47
115
-0.052.342.39
204817.0615.62-1.45
108
-0.052.342.39
204917.0415.62-1.42
102
-0.052.342.40
205017.0215.62-1.41
95
-0.062.342.40
205117.0115.62-1.39
88
-0.062.342.40
205217.0115.62-1.39
82
-0.062.352.41
205317.0115.62-1.39
75
-0.062.352.41
205417.0215.62-1.39
68
-0.062.352.41
205517.0215.63-1.40
61
-0.072.352.42
205617.0415.63-1.41
54
-0.072.352.42
205717.0515.63-1.42
46
-0.072.352.42
205817.0615.63-1.43
39
-0.072.352.43
205917.0715.64-1.44
31
-0.072.352.43
206017.0815.64-1.44
23
-0.082.362.43
206117.0815.64-1.44
16
-0.082.362.43
206217.0915.64-1.45
8
-0.082.362.44
206317.0915.65-1.45
----
-0.082.362.44
206417.1015.65-1.46
----
-0.082.362.44
206517.1215.65-1.47
----
-0.082.362.45
206617.1315.65-1.48
----
-0.092.362.45
206717.1515.66-1.50
----
-0.092.362.45
206817.1815.66-1.52
----
-0.092.372.45
206917.2115.66-1.54
----
-0.092.372.46
207017.2415.67-1.57
----
-0.092.372.46
207117.2615.67-1.59
----
-0.092.372.46
207217.2915.67-1.62
----
-0.092.372.46
207317.3115.67-1.64
----
-0.092.372.46
207417.3415.68-1.66
----
-0.092.372.47
207517.3715.68-1.69
----
-0.092.382.47
207617.3915.68-1.71
----
-0.092.382.47
207717.4215.69-1.73
----
-0.092.382.47
207817.4515.69-1.75
----
-0.092.382.47
207917.4815.69-1.78
----
-0.092.382.48
208017.5115.70-1.81
----
-0.092.382.48
208117.5415.70-1.84
----
-0.092.382.48
208217.5815.70-1.88
----
-0.102.392.48
208317.6215.71-1.91
----
-0.102.392.48
208417.6615.71-1.95
----
-0.102.392.48
208517.7015.72-1.98
----
-0.102.392.48
208617.7415.72-2.02
----
-0.102.392.49
208717.7815.72-2.05
----
-0.102.392.49



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2012 Trustees Report.
2012-2086 16.64% 16.12% -0.53%
2062
-0.04% 2.10% 2.14%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified February 20, 2013