Description of Proposed Provision:
A1: Starting December 2018, reduce the annual COLA by 1 percentage point.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2017 | 13.41 | 13.03 | -0.38 | 298 | 0.00 | 0.00 | 0.00 | ||
| 2018 | 13.49 | 12.93 | -0.56 | 287 | 0.00 | 0.00 | 0.00 | ||
| 2019 | 13.57 | 12.94 | -0.63 | 275 | -0.13 | -0.01 | 0.12 | ||
| 2020 | 13.59 | 12.95 | -0.64 | 264 | -0.26 | -0.01 | 0.25 | ||
| 2021 | 13.63 | 12.97 | -0.65 | 254 | -0.39 | -0.02 | 0.37 | ||
| 2022 | 13.74 | 13.00 | -0.74 | 244 | -0.52 | -0.02 | 0.50 | ||
| 2023 | 13.90 | 13.02 | -0.88 | 233 | -0.65 | -0.03 | 0.62 | ||
| 2024 | 14.05 | 13.05 | -1.00 | 223 | -0.78 | -0.04 | 0.74 | ||
| 2025 | 14.20 | 13.06 | -1.14 | 211 | -0.90 | -0.04 | 0.86 | ||
| 2026 | 14.35 | 13.08 | -1.27 | 200 | -1.02 | -0.05 | 0.97 | ||
| 2027 | 14.48 | 13.09 | -1.39 | 189 | -1.14 | -0.06 | 1.08 | ||
| 2028 | 14.61 | 13.10 | -1.50 | 177 | -1.25 | -0.06 | 1.18 | ||
| 2029 | 14.71 | 13.11 | -1.60 | 166 | -1.35 | -0.07 | 1.28 | ||
| 2030 | 14.81 | 13.12 | -1.69 | 155 | -1.45 | -0.08 | 1.38 | ||
| 2031 | 14.90 | 13.13 | -1.77 | 145 | -1.55 | -0.08 | 1.47 | ||
| 2032 | 14.97 | 13.13 | -1.84 | 134 | -1.64 | -0.09 | 1.55 | ||
| 2033 | 15.02 | 13.14 | -1.88 | 123 | -1.72 | -0.09 | 1.63 | ||
| 2034 | 15.05 | 13.14 | -1.91 | 112 | -1.79 | -0.09 | 1.70 | ||
| 2035 | 15.06 | 13.14 | -1.92 | 101 | -1.86 | -0.10 | 1.77 | ||
| 2036 | 15.06 | 13.14 | -1.92 | 89 | -1.93 | -0.10 | 1.83 | ||
| 2037 | 15.04 | 13.14 | -1.90 | 78 | -1.98 | -0.11 | 1.88 | ||
| 2038 | 14.99 | 13.14 | -1.85 | 67 | -2.03 | -0.11 | 1.92 | ||
| 2039 | 14.92 | 13.14 | -1.79 | 56 | -2.07 | -0.11 | 1.96 | ||
| 2040 | 14.85 | 13.13 | -1.72 | 45 | -2.11 | -0.11 | 2.00 | ||
| 2041 | 14.78 | 13.13 | -1.64 | 34 | -2.14 | -0.11 | 2.03 | ||
| 2042 | 14.70 | 13.13 | -1.57 | 24 | -2.16 | -0.12 | 2.05 | ||
| 2043 | 14.62 | 13.12 | -1.50 | 13 | -2.18 | -0.12 | 2.07 | ||
| 2044 | 14.56 | 13.12 | -1.44 | 4 | -2.20 | -0.12 | 2.08 | ||
| 2045 | 14.51 | 13.12 | -1.39 | ---- | -2.21 | -0.12 | 2.09 | ||
| 2046 | 14.46 | 13.12 | -1.34 | ---- | -2.22 | -0.12 | 2.10 | ||
| 2047 | 14.42 | 13.11 | -1.31 | ---- | -2.22 | -0.12 | 2.10 | ||
| 2048 | 14.39 | 13.11 | -1.28 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2049 | 14.36 | 13.11 | -1.25 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2050 | 14.34 | 13.11 | -1.23 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2051 | 14.33 | 13.11 | -1.21 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2052 | 14.33 | 13.11 | -1.22 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2053 | 14.34 | 13.11 | -1.23 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2054 | 14.36 | 13.11 | -1.24 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2055 | 14.39 | 13.12 | -1.27 | ---- | -2.23 | -0.12 | 2.11 | ||
| 2056 | 14.42 | 13.12 | -1.30 | ---- | -2.24 | -0.12 | 2.11 | ||
| 2057 | 14.46 | 13.12 | -1.34 | ---- | -2.24 | -0.12 | 2.12 | ||
| 2058 | 14.50 | 13.13 | -1.37 | ---- | -2.24 | -0.12 | 2.12 | ||
| 2059 | 14.53 | 13.13 | -1.41 | ---- | -2.25 | -0.12 | 2.13 | ||
| 2060 | 14.57 | 13.13 | -1.44 | ---- | -2.26 | -0.12 | 2.14 | ||
| 2061 | 14.61 | 13.13 | -1.48 | ---- | -2.27 | -0.12 | 2.14 | ||
| 2062 | 14.65 | 13.14 | -1.51 | ---- | -2.28 | -0.12 | 2.15 | ||
| 2063 | 14.68 | 13.14 | -1.55 | ---- | -2.29 | -0.12 | 2.16 | ||
| 2064 | 14.72 | 13.14 | -1.58 | ---- | -2.30 | -0.12 | 2.17 | ||
| 2065 | 14.76 | 13.14 | -1.61 | ---- | -2.31 | -0.13 | 2.18 | ||
| 2066 | 14.80 | 13.15 | -1.65 | ---- | -2.32 | -0.13 | 2.19 | ||
| 2067 | 14.84 | 13.15 | -1.69 | ---- | -2.33 | -0.13 | 2.21 | ||
| 2068 | 14.88 | 13.15 | -1.73 | ---- | -2.35 | -0.13 | 2.22 | ||
| 2069 | 14.92 | 13.15 | -1.76 | ---- | -2.36 | -0.13 | 2.23 | ||
| 2070 | 14.96 | 13.16 | -1.80 | ---- | -2.37 | -0.13 | 2.24 | ||
| 2071 | 14.99 | 13.16 | -1.83 | ---- | -2.38 | -0.13 | 2.25 | ||
| 2072 | 15.02 | 13.16 | -1.86 | ---- | -2.39 | -0.13 | 2.26 | ||
| 2073 | 15.04 | 13.16 | -1.88 | ---- | -2.41 | -0.13 | 2.27 | ||
| 2074 | 15.06 | 13.16 | -1.90 | ---- | -2.42 | -0.13 | 2.28 | ||
| 2075 | 15.08 | 13.16 | -1.91 | ---- | -2.43 | -0.13 | 2.29 | ||
| 2076 | 15.08 | 13.17 | -1.92 | ---- | -2.44 | -0.13 | 2.30 | ||
| 2077 | 15.08 | 13.17 | -1.91 | ---- | -2.45 | -0.13 | 2.31 | ||
| 2078 | 15.07 | 13.16 | -1.91 | ---- | -2.45 | -0.13 | 2.32 | ||
| 2079 | 15.06 | 13.16 | -1.89 | ---- | -2.46 | -0.13 | 2.33 | ||
| 2080 | 15.04 | 13.16 | -1.88 | ---- | -2.47 | -0.13 | 2.33 | ||
| 2081 | 15.04 | 13.16 | -1.87 | ---- | -2.47 | -0.14 | 2.34 | ||
| 2082 | 15.03 | 13.16 | -1.87 | ---- | -2.48 | -0.14 | 2.34 | ||
| 2083 | 15.03 | 13.16 | -1.87 | ---- | -2.48 | -0.14 | 2.34 | ||
| 2084 | 15.04 | 13.16 | -1.88 | ---- | -2.48 | -0.14 | 2.35 | ||
| 2085 | 15.06 | 13.16 | -1.90 | ---- | -2.49 | -0.14 | 2.35 | ||
| 2086 | 15.09 | 13.16 | -1.92 | ---- | -2.49 | -0.14 | 2.36 | ||
| 2087 | 15.12 | 13.17 | -1.95 | ---- | -2.50 | -0.14 | 2.36 | ||
| 2088 | 15.15 | 13.17 | -1.99 | ---- | -2.50 | -0.14 | 2.37 | ||
| 2089 | 15.19 | 13.17 | -2.02 | ---- | -2.51 | -0.14 | 2.37 | ||
| 2090 | 15.23 | 13.17 | -2.06 | ---- | -2.51 | -0.14 | 2.38 | ||
| 2091 | 15.27 | 13.18 | -2.10 | ---- | -2.52 | -0.14 | 2.38 | ||
| 2092 | 15.31 | 13.18 | -2.14 | ---- | -2.53 | -0.14 | 2.39 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2017-2091 | 14.76% | 13.74% | -1.03% | 2044 | -1.90% | -0.10% | 1.80% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2017 Trustees Report.