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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 2014, 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
201313.9512.69-1.26
330
0.000.000.00
201414.0413.97-0.06
315
0.001.141.14
201513.9714.140.17
309
0.001.271.27
201613.9114.230.32
302
0.001.351.35
201713.8814.320.43
296
0.001.411.41
201813.9114.400.49
292
0.001.471.47
201914.0514.460.41
288
0.001.521.52
202014.2514.520.27
284
0.001.551.56
202114.4414.590.15
281
0.001.601.60
202214.7014.66-0.04
276
0.001.641.64
202314.9614.73-0.23
271
0.001.691.70
202415.2214.80-0.42
265
-0.011.741.75
202515.4714.87-0.60
260
-0.011.801.81
202615.7014.94-0.76
254
-0.011.851.86
202715.9215.01-0.91
249
-0.011.911.93
202816.1215.09-1.04
244
-0.011.981.99
202916.3115.17-1.15
238
-0.012.042.06
203016.4815.25-1.23
232
-0.022.112.13
203116.6215.33-1.29
226
-0.022.192.20
203216.7315.41-1.32
220
-0.022.272.28
203316.8415.47-1.36
214
-0.022.322.34
203416.9115.48-1.43
208
-0.022.322.34
203516.9615.49-1.47
201
-0.022.322.34
203616.9815.49-1.49
195
-0.022.322.35
203717.0015.49-1.50
189
-0.032.322.35
203816.9915.50-1.49
183
-0.032.322.35
203916.9615.50-1.47
176
-0.032.322.35
204016.9315.50-1.44
170
-0.032.332.36
204116.9015.50-1.40
165
-0.032.332.36
204216.8615.50-1.36
159
-0.042.332.36
204316.8315.50-1.33
153
-0.042.332.37
204416.8015.50-1.31
148
-0.042.332.37
204516.7915.50-1.29
142
-0.042.332.37
204616.7715.50-1.27
136
-0.042.332.37
204716.7615.50-1.26
131
-0.052.332.38
204816.7415.50-1.24
125
-0.052.332.38
204916.7315.50-1.23
120
-0.052.332.38
205016.7315.51-1.23
114
-0.052.332.39
205116.7415.51-1.23
109
-0.052.342.39
205216.7515.51-1.24
103
-0.062.342.39
205316.7815.51-1.26
97
-0.062.342.40
205416.8115.52-1.29
91
-0.062.342.40
205516.8515.52-1.33
84
-0.062.342.40
205616.8915.52-1.37
78
-0.072.342.41
205716.9315.53-1.41
71
-0.072.342.41
205816.9815.53-1.45
63
-0.072.342.41
205917.0215.54-1.49
56
-0.072.342.42
206017.0715.54-1.53
48
-0.072.352.42
206117.1115.54-1.56
40
-0.082.352.42
206217.1515.55-1.60
31
-0.082.352.43
206317.1915.55-1.64
23
-0.082.352.43
206417.2315.56-1.68
14
-0.082.352.43
206517.2715.56-1.71
4
-0.082.352.43
206617.3215.56-1.75
----
-0.082.352.44
206717.3615.57-1.80
----
-0.092.352.44
206817.4115.57-1.84
----
-0.092.362.44
206917.4515.58-1.88
----
-0.092.362.45
207017.4915.58-1.92
----
-0.092.362.45
207117.5315.58-1.95
----
-0.092.362.45
207217.5615.59-1.98
----
-0.092.362.45
207317.5915.59-2.00
----
-0.092.362.45
207417.6115.59-2.02
----
-0.092.362.46
207517.6315.59-2.03
----
-0.092.362.46
207617.6415.60-2.04
----
-0.092.372.46
207717.6415.60-2.04
----
-0.092.372.46
207817.6515.60-2.05
----
-0.092.372.46
207917.6515.60-2.05
----
-0.092.372.46
208017.6615.60-2.06
----
-0.092.372.47
208117.6815.61-2.08
----
-0.092.372.47
208217.7115.61-2.10
----
-0.102.372.47
208317.7415.61-2.13
----
-0.102.382.47
208417.7815.62-2.16
----
-0.102.382.47
208517.8215.62-2.20
----
-0.102.382.47
208617.8715.62-2.24
----
-0.102.382.47
208717.9215.63-2.29
----
-0.102.382.48
208817.9715.63-2.34
----
-0.102.382.48



 

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 2013 Trustees Report.
2013-2087 16.55% 15.98% -0.57%
2065
-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 September 11, 2013