Detailed Single Year Tables

Level of Monthly Benefits	Description of Proposed Provision: B7.12: Provide an option to split the 8-percent delayed retirement credit (DRC) to offer a lump sum benefit at initial entitlement equal to 2 percent of the 8 percent DRC earned, and a 6 percent DRC on subsequent monthly benefits, effective for workers attaining age 62 in 2023 and later. Widows are held harmless from the lump-sum decision.

			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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2016	14.05	12.94	-1.10	303	0.00	0.00	0.00
2017	13.72	12.92	-0.80	293	0.00	0.00	0.00
2018	13.86	12.96	-0.90	277	0.00	0.00	0.00
2019	13.99	12.97	-1.02	262	0.00	0.00	0.00
2020	14.13	12.98	-1.15	246	0.00	0.00	0.00
2021	14.27	13.00	-1.27	231	0.00	0.00	0.00
2022	14.49	13.03	-1.46	216	0.00	0.00	0.00
2023	14.76	13.06	-1.70	200	0.00	0.00	0.00
2024	15.02	13.09	-1.93	183	0.00	0.00	0.00
2025	15.29	13.11	-2.17	165	0.00	0.00	0.00
2026	15.47	13.13	-2.34	149	0.00	0.00	0.00
2027	15.65	13.14	-2.51	132	0.00	0.00	0.00
2028	15.81	13.16	-2.66	115	0.00	0.00	0.00
2029	15.97	13.17	-2.81	98	0.01	0.00	-0.01
2030	16.12	13.18	-2.94	81	0.02	0.00	-0.02
2031	16.26	13.19	-3.07	63	0.04	0.00	-0.04
2032	16.36	13.20	-3.16	45	0.04	0.00	-0.03
2033	16.44	13.21	-3.23	27	0.03	0.00	-0.03
2034	16.49	13.21	-3.28	8	0.03	0.00	-0.03
2035	16.52	13.22	-3.30	----	0.02	0.00	-0.02
2036	16.58	13.22	-3.35	----	0.02	0.00	-0.02
2037	16.62	13.23	-3.39	----	0.02	0.00	-0.02
2038	16.63	13.23	-3.40	----	0.02	0.00	-0.02
2039	16.63	13.23	-3.39	----	0.02	0.00	-0.02
2040	16.60	13.23	-3.37	----	0.01	0.00	-0.01
2041	16.57	13.23	-3.34	----	0.01	0.00	-0.01
2042	16.54	13.23	-3.31	----	0.01	0.00	-0.01
2043	16.50	13.23	-3.27	----	0.00	0.00	0.00
2044	16.47	13.23	-3.24	----	0.00	0.00	0.00
2045	16.45	13.23	-3.22	----	0.00	0.00	0.00
2046	16.43	13.23	-3.20	----	0.00	0.00	0.00
2047	16.40	13.23	-3.17	----	0.00	0.00	0.00
2048	16.39	13.23	-3.15	----	0.00	0.00	0.00
2049	16.37	13.23	-3.14	----	0.00	0.00	0.00
2050	16.36	13.23	-3.13	----	0.00	0.00	0.00
2051	16.36	13.23	-3.13	----	0.00	0.00	0.00
2052	16.37	13.23	-3.14	----	0.00	0.00	0.00
2053	16.39	13.24	-3.15	----	0.00	0.00	0.00
2054	16.42	13.24	-3.18	----	0.00	0.00	0.00
2055	16.46	13.24	-3.22	----	0.00	0.00	0.00
2056	16.51	13.25	-3.26	----	0.00	0.00	0.00
2057	16.55	13.25	-3.30	----	0.00	0.00	0.00
2058	16.61	13.25	-3.35	----	0.00	0.00	0.00
2059	16.66	13.26	-3.40	----	0.00	0.00	0.00
2060	16.71	13.26	-3.44	----	0.00	0.00	0.00
2061	16.76	13.27	-3.49	----	0.00	0.00	0.00
2062	16.80	13.27	-3.54	----	0.00	0.00	0.00
2063	16.85	13.27	-3.58	----	0.00	0.00	0.00
2064	16.90	13.28	-3.63	----	0.00	0.00	0.00
2065	16.95	13.28	-3.67	----	0.00	0.00	0.00
2066	17.00	13.28	-3.72	----	0.00	0.00	0.00
2067	17.06	13.29	-3.77	----	0.00	0.00	0.00
2068	17.11	13.29	-3.82	----	0.00	0.00	0.00
2069	17.16	13.29	-3.87	----	0.00	0.00	0.00
2070	17.21	13.30	-3.92	----	0.00	0.00	0.00
2071	17.26	13.30	-3.96	----	-0.01	0.00	0.00
2072	17.30	13.30	-4.00	----	-0.01	0.00	0.00
2073	17.34	13.31	-4.03	----	-0.01	0.00	0.00
2074	17.37	13.31	-4.06	----	0.00	0.00	0.00
2075	17.39	13.31	-4.08	----	0.00	0.00	0.00
2076	17.40	13.31	-4.09	----	0.00	0.00	0.00
2077	17.41	13.31	-4.09	----	0.00	0.00	0.00
2078	17.40	13.31	-4.09	----	-0.01	0.00	0.01
2079	17.40	13.31	-4.09	----	-0.01	0.00	0.01
2080	17.39	13.31	-4.08	----	-0.01	0.00	0.01
2081	17.39	13.31	-4.08	----	-0.01	0.00	0.01
2082	17.40	13.31	-4.09	----	-0.01	0.00	0.01
2083	17.41	13.31	-4.10	----	-0.01	0.00	0.01
2084	17.43	13.31	-4.12	----	-0.01	0.00	0.01
2085	17.46	13.31	-4.15	----	-0.01	0.00	0.01
2086	17.50	13.32	-4.18	----	-0.01	0.00	0.01
2087	17.54	13.32	-4.22	----	-0.01	0.00	0.01
2088	17.58	13.32	-4.26	----	-0.01	0.00	0.00
2089	17.63	13.33	-4.30	----	0.00	0.00	0.00
2090	17.67	13.33	-4.34	----	0.00	0.00	0.00
2091	17.72	13.33	-4.39	----	0.00	0.00	0.00

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090	16.51%	13.85%	-2.66%	2034	0.00%	0.00%	-0.00%

¹ Under present law, the year of Trust Fund reserve depletion is 2034.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates