Proposed Provision: Apply OASDI payroll tax rate on earnings above $400,000 starting in 2015, and tax all earnings once the current-law taxable maximum exceeds $400,000. Credit the additional earnings for benefit purposes by: (a) calculating a second average indexed monthly earnings (AIME+) reflecting only earnings taxed above the current law taxable maximum, (b) applying a 2 percent factor on this newly computed AIME+ to develop a second component of the PIA, and (c) adding this second component to the current-law PIA.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2013 | 330 | 330 |
2014 | 315 | 315 |
2015 | 301 | 301 |
2016 | 286 | 292 |
2017 | 271 | 283 |
2018 | 257 | 276 |
2019 | 244 | 270 |
2020 | 231 | 264 |
2021 | 218 | 257 |
2022 | 204 | 250 |
2023 | 189 | 242 |
2024 | 173 | 234 |
2025 | 158 | 225 |
2026 | 142 | 217 |
2027 | 125 | 208 |
2028 | 108 | 199 |
2029 | 90 | 189 |
2030 | 71 | 179 |
2031 | 52 | 169 |
2032 | 31 | 159 |
2033 | 11 | 148 |
2034 | -11 | 137 |
2035 | -32 | 126 |
2036 | -55 | 115 |
2037 | -78 | 104 |
2038 | -101 | 94 |
2039 | -124 | 83 |
2040 | -148 | 74 |
2041 | -172 | 64 |
2042 | -196 | 55 |
2043 | -220 | 47 |
2044 | -245 | 39 |
2045 | -269 | 31 |
2046 | -294 | 24 |
2047 | -319 | 16 |
2048 | -345 | 9 |
2049 | -371 | 1 |
2050 | -397 | -6 |
2051 | -423 | -14 |
2052 | -449 | -21 |
2053 | -476 | -29 |
2054 | -502 | -37 |
2055 | -530 | -45 |
2056 | -557 | -54 |
2057 | -585 | -63 |
2058 | -613 | -72 |
2059 | -642 | -81 |
2060 | -671 | -91 |
2061 | -701 | -101 |
2062 | -732 | -112 |
2063 | -763 | -123 |
2064 | -794 | -134 |
2065 | -826 | -145 |
2066 | -859 | -157 |
2067 | -892 | -169 |
2068 | -925 | -181 |
2069 | -959 | -194 |
2070 | -993 | -207 |
2071 | -1028 | -221 |
2072 | -1064 | -235 |
2073 | -1101 | -249 |
2074 | -1139 | -263 |
2075 | -1178 | -278 |
2076 | -1217 | -294 |
2077 | -1258 | -309 |
2078 | -1299 | -325 |
2079 | -1340 | -341 |
2080 | -1382 | -357 |
2081 | -1424 | -374 |
2082 | -1466 | -390 |
2083 | -1508 | -407 |
2084 | -1550 | -424 |
2085 | -1592 | -441 |
2086 | -1635 | -458 |
2087 | -1678 | -476 |
2088 | -1722 | -494 |
back