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Detailed Single Year Tables

Description of Proposed Provision:
E2.3: Eliminate the taxable maximum in years 2017 and later, and apply full 12.4 percent payroll tax rate to all earnings. Provide benefit credit for earnings above the current-law taxable maximum, adding a bend point at the current-law taxable maximum and applying a formula factor of 3 percent for AIME above this new bend point.

 

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
201713.7215.191.48
293
0.002.282.28
201813.8515.391.54
293
0.002.442.44
201913.9815.401.41
294
0.002.432.43
202014.1415.391.25
294
0.002.412.41
202114.2815.401.12
294
0.012.402.39
202214.5115.410.91
292
0.022.382.36
202314.7815.420.63
289
0.032.362.33
202415.0615.430.37
285
0.042.342.30
202515.3315.430.10
280
0.052.322.27
202615.5315.45-0.08
275
0.062.322.26
202715.7215.46-0.26
270
0.072.322.25
202815.9015.48-0.42
266
0.082.322.24
202916.0615.50-0.57
262
0.102.332.23
203016.2115.51-0.70
259
0.112.332.22
203116.3415.52-0.82
255
0.122.332.21
203216.4615.53-0.92
251
0.132.332.20
203316.5515.54-1.01
247
0.142.332.20
203416.6115.55-1.06
243
0.152.342.19
203516.6515.55-1.10
239
0.162.342.18
203616.7215.56-1.16
234
0.172.342.17
203716.7715.57-1.21
229
0.172.342.17
203816.7915.57-1.22
224
0.182.342.16
203916.8015.57-1.22
219
0.192.342.16
204016.7815.58-1.21
214
0.192.342.15
204116.7615.58-1.18
209
0.202.352.15
204216.7315.58-1.16
205
0.202.352.15
204316.7015.58-1.13
200
0.212.352.14
204416.6815.58-1.10
196
0.212.352.14
204516.6615.58-1.08
192
0.212.352.14
204616.6415.58-1.06
187
0.212.352.14
204716.6215.58-1.03
183
0.222.352.14
204816.6015.58-1.02
179
0.222.352.14
204916.5915.59-1.00
175
0.222.352.14
205016.5815.59-0.99
171
0.222.352.14
205116.5815.59-0.99
167
0.222.362.14
205216.5915.59-1.00
163
0.222.362.14
205316.6215.59-1.02
158
0.222.362.14
205416.6515.60-1.05
154
0.222.362.14
205516.6915.60-1.08
149
0.222.362.14
205616.7315.61-1.13
144
0.222.362.14
205716.7815.61-1.17
139
0.232.362.14
205816.8315.62-1.22
133
0.232.362.14
205916.8815.62-1.26
127
0.232.362.14
206016.9315.63-1.31
121
0.232.362.14
206116.9915.63-1.36
114
0.232.362.14
206217.0415.63-1.40
107
0.232.372.14
206317.0915.64-1.45
100
0.232.372.14
206417.1415.64-1.49
93
0.232.372.14
206517.1915.65-1.54
85
0.232.372.14
206617.2415.65-1.59
77
0.232.372.14
206717.2915.66-1.64
69
0.232.372.14
206817.3515.66-1.68
60
0.232.372.14
206917.4015.67-1.73
51
0.232.372.14
207017.4515.67-1.78
42
0.242.372.14
207117.5015.68-1.82
32
0.242.382.14
207217.5415.68-1.86
22
0.242.382.14
207317.5815.68-1.89
12
0.242.382.14
207417.6115.69-1.92
2
0.242.382.14
207517.6315.69-1.94
----
0.242.382.14
207617.6415.69-1.95
----
0.242.382.14
207717.6515.69-1.96
----
0.242.382.14
207817.6515.70-1.95
----
0.242.382.14
207917.6515.70-1.95
----
0.242.382.15
208017.6415.70-1.94
----
0.242.392.15
208117.6415.70-1.94
----
0.242.392.15
208217.6515.70-1.95
----
0.242.392.15
208317.6615.70-1.96
----
0.242.392.15
208417.6815.70-1.98
----
0.242.392.15
208517.7115.71-2.00
----
0.242.392.15
208617.7515.71-2.04
----
0.242.392.15
208717.7915.71-2.07
----
0.242.392.15
208817.8315.72-2.11
----
0.242.402.15
208917.8815.72-2.15
----
0.252.402.15
209017.9215.73-2.20
----
0.252.402.15
209117.9715.73-2.24
----
0.252.402.15



 

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 16.67% 16.17% -0.50%
2074
0.17% 2.33% 2.16%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016