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Detailed Single Year Tables

Description of Proposed Provision:
E2.8: Apply a 2 percent payroll tax on earnings above the current-law taxable maximum for years 2019-2066, and a 3 percent rate for years 2067 and later. Do not provide benefit credit for earnings above the current-law taxable maximum.

 

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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9913.37-0.62
262
0.000.400.40
202014.1313.40-0.74
249
0.000.420.42
202114.2713.42-0.85
237
0.000.410.42
202214.4913.45-1.04
224
0.000.410.41
202314.7613.47-1.29
210
0.000.410.41
202415.0213.50-1.53
196
0.000.400.41
202515.2813.51-1.77
181
0.000.400.40
202615.4713.53-1.94
166
0.000.400.40
202715.6513.54-2.10
152
0.000.400.40
202815.8113.56-2.25
137
0.000.400.40
202915.9613.57-2.39
122
0.000.400.40
203016.1013.58-2.52
108
0.000.400.40
203116.2213.59-2.63
93
0.000.400.40
203216.3213.60-2.72
78
0.000.400.40
203316.4013.61-2.80
62
0.000.400.40
203416.4613.61-2.85
46
0.000.400.40
203516.4913.62-2.88
29
0.000.400.40
203616.5513.62-2.93
12
0.000.400.41
203716.5913.63-2.97
----
0.000.400.41
203816.6113.63-2.98
----
0.000.400.41
203916.6013.63-2.97
----
-0.010.400.41
204016.5913.63-2.95
----
-0.010.400.41
204116.5613.63-2.92
----
-0.010.400.41
204216.5313.63-2.89
----
-0.010.400.41
204316.4913.63-2.86
----
-0.010.400.41
204416.4613.63-2.83
----
-0.010.400.41
204516.4413.63-2.81
----
-0.010.400.41
204616.4213.63-2.79
----
-0.010.400.41
204716.3913.63-2.76
----
-0.010.400.41
204816.3813.63-2.74
----
-0.010.400.41
204916.3613.63-2.73
----
-0.010.400.41
205016.3513.63-2.71
----
-0.010.400.41
205116.3513.64-2.71
----
-0.010.400.41
205216.3613.64-2.72
----
-0.010.400.41
205316.3813.64-2.74
----
-0.010.400.41
205416.4113.64-2.77
----
-0.010.400.41
205516.4513.65-2.81
----
-0.010.400.41
205616.5013.65-2.85
----
-0.010.400.41
205716.5413.65-2.89
----
-0.010.400.41
205816.5913.66-2.94
----
-0.010.400.42
205916.6413.66-2.98
----
-0.010.400.42
206016.6913.66-3.03
----
-0.010.400.42
206116.7413.67-3.07
----
-0.010.400.42
206216.7913.67-3.12
----
-0.010.400.42
206316.8413.68-3.17
----
-0.010.400.42
206416.8913.68-3.21
----
-0.010.400.42
206516.9413.68-3.26
----
-0.010.400.42
206616.9913.69-3.31
----
-0.020.400.42
206717.0413.88-3.17
----
-0.020.590.61
206817.1013.89-3.20
----
-0.020.600.62
206917.1513.90-3.25
----
-0.020.600.62
207017.2013.90-3.30
----
-0.020.600.62
207117.2513.90-3.34
----
-0.020.600.62
207217.2913.91-3.38
----
-0.020.600.62
207317.3213.91-3.41
----
-0.020.600.62
207417.3513.91-3.44
----
-0.020.600.62
207517.3713.91-3.46
----
-0.020.600.62
207617.3913.92-3.47
----
-0.020.600.62
207717.3913.92-3.48
----
-0.020.600.62
207817.3913.92-3.48
----
-0.020.600.62
207917.3913.92-3.47
----
-0.020.600.62
208017.3813.92-3.47
----
-0.020.610.62
208117.3813.92-3.47
----
-0.020.610.62
208217.3913.92-3.47
----
-0.020.610.62
208317.4013.92-3.48
----
-0.020.610.62
208417.4213.92-3.50
----
-0.020.610.62
208517.4513.92-3.53
----
-0.020.610.63
208617.4813.92-3.56
----
-0.020.610.63
208717.5213.93-3.60
----
-0.020.610.63
208817.5713.93-3.64
----
-0.020.610.63
208917.6113.93-3.68
----
-0.020.610.63
209017.6613.94-3.72
----
-0.020.610.63
209117.7013.94-3.76
----
-0.020.610.63



 

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 2016 Trustees Report.
2016-2090 16.49% 14.28% -2.21%
2036
-0.01% 0.44% 0.44%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016