Proposed Provision: Increase the taxable maximum by an additional 2 percent per year beginning in 2015 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum levels. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2013330330
2014315315
2015301301
2016286286
2017271272
2018257259
2019244247
2020231235
2021218223
2022204211
2023189198
2024173184
2025158171
2026142157
2027125143
2028108128
202990113
20307198
20315281
20323165
20331148
2034-1130
2035-3212
2036-55-6
2037-78-24
2038-101-43
2039-124-61
2040-148-80
2041-172-98
2042-196-117
2043-220-136
2044-245-154
2045-269-173
2046-294-191
2047-319-210
2048-345-229
2049-371-248
2050-397-267
2051-423-286
2052-449-305
2053-476-324
2054-502-343
2055-530-363
2056-557-383
2057-585-403
2058-613-424
2059-642-446
2060-671-468
2061-701-490
2062-732-513
2063-763-536
2064-794-559
2065-826-584
2066-859-608
2067-892-633
2068-925-658
2069-959-684
2070-993-711
2071-1028-738
2072-1064-765
2073-1101-794
2074-1139-823
2075-1178-853
2076-1217-883
2077-1258-915
2078-1299-946
2079-1340-978
2080-1382-1011
2081-1424-1043
2082-1466-1076
2083-1508-1108
2084-1550-1141
2085-1592-1174
2086-1635-1207
2087-1678-1241
2088-1722-1276
back