Description of Proposed Provision:
B7.2: Reduce benefits by 5 percent for those newly eligible for benefits in 2018 and later.
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 | 13.48 | 12.93 | -0.55 | 287 | -0.01 | -0.00 | 0.01 | ||
2019 | 13.67 | 12.94 | -0.73 | 273 | -0.02 | -0.00 | 0.02 | ||
2020 | 13.81 | 12.96 | -0.85 | 260 | -0.05 | -0.00 | 0.04 | ||
2021 | 13.95 | 12.99 | -0.96 | 246 | -0.07 | -0.00 | 0.07 | ||
2022 | 14.16 | 13.02 | -1.14 | 233 | -0.10 | -0.00 | 0.09 | ||
2023 | 14.41 | 13.04 | -1.37 | 218 | -0.13 | -0.01 | 0.13 | ||
2024 | 14.65 | 13.08 | -1.58 | 204 | -0.17 | -0.01 | 0.16 | ||
2025 | 14.89 | 13.09 | -1.79 | 188 | -0.21 | -0.01 | 0.20 | ||
2026 | 15.12 | 13.12 | -1.99 | 173 | -0.25 | -0.01 | 0.24 | ||
2027 | 15.32 | 13.14 | -2.18 | 157 | -0.29 | -0.01 | 0.28 | ||
2028 | 15.52 | 13.15 | -2.37 | 141 | -0.34 | -0.02 | 0.32 | ||
2029 | 15.69 | 13.16 | -2.53 | 125 | -0.37 | -0.02 | 0.36 | ||
2030 | 15.86 | 13.18 | -2.68 | 108 | -0.41 | -0.02 | 0.39 | ||
2031 | 16.00 | 13.19 | -2.81 | 92 | -0.45 | -0.02 | 0.43 | ||
2032 | 16.12 | 13.19 | -2.93 | 75 | -0.48 | -0.02 | 0.46 | ||
2033 | 16.23 | 13.20 | -3.02 | 58 | -0.51 | -0.03 | 0.49 | ||
2034 | 16.30 | 13.21 | -3.10 | 40 | -0.55 | -0.03 | 0.52 | ||
2035 | 16.35 | 13.21 | -3.14 | 22 | -0.57 | -0.03 | 0.55 | ||
2036 | 16.39 | 13.21 | -3.17 | 3 | -0.60 | -0.03 | 0.57 | ||
2037 | 16.40 | 13.22 | -3.18 | ---- | -0.63 | -0.03 | 0.59 | ||
2038 | 16.37 | 13.22 | -3.16 | ---- | -0.65 | -0.03 | 0.61 | ||
2039 | 16.33 | 13.21 | -3.12 | ---- | -0.67 | -0.03 | 0.63 | ||
2040 | 16.28 | 13.21 | -3.06 | ---- | -0.68 | -0.03 | 0.65 | ||
2041 | 16.21 | 13.21 | -3.00 | ---- | -0.70 | -0.04 | 0.67 | ||
2042 | 16.14 | 13.21 | -2.94 | ---- | -0.72 | -0.04 | 0.68 | ||
2043 | 16.07 | 13.20 | -2.87 | ---- | -0.73 | -0.04 | 0.69 | ||
2044 | 16.01 | 13.20 | -2.81 | ---- | -0.75 | -0.04 | 0.71 | ||
2045 | 15.96 | 13.20 | -2.76 | ---- | -0.76 | -0.04 | 0.72 | ||
2046 | 15.91 | 13.20 | -2.72 | ---- | -0.77 | -0.04 | 0.73 | ||
2047 | 15.87 | 13.19 | -2.67 | ---- | -0.78 | -0.04 | 0.74 | ||
2048 | 15.83 | 13.19 | -2.64 | ---- | -0.78 | -0.04 | 0.74 | ||
2049 | 15.80 | 13.19 | -2.61 | ---- | -0.79 | -0.04 | 0.75 | ||
2050 | 15.77 | 13.19 | -2.58 | ---- | -0.80 | -0.04 | 0.76 | ||
2051 | 15.75 | 13.19 | -2.56 | ---- | -0.80 | -0.04 | 0.76 | ||
2052 | 15.75 | 13.19 | -2.56 | ---- | -0.81 | -0.04 | 0.76 | ||
2053 | 15.76 | 13.19 | -2.57 | ---- | -0.81 | -0.04 | 0.77 | ||
2054 | 15.77 | 13.19 | -2.58 | ---- | -0.81 | -0.04 | 0.77 | ||
2055 | 15.80 | 13.19 | -2.61 | ---- | -0.82 | -0.04 | 0.78 | ||
2056 | 15.83 | 13.20 | -2.64 | ---- | -0.82 | -0.04 | 0.78 | ||
2057 | 15.87 | 13.20 | -2.67 | ---- | -0.83 | -0.04 | 0.78 | ||
2058 | 15.91 | 13.20 | -2.71 | ---- | -0.83 | -0.04 | 0.79 | ||
2059 | 15.95 | 13.21 | -2.75 | ---- | -0.83 | -0.04 | 0.79 | ||
2060 | 15.99 | 13.21 | -2.78 | ---- | -0.84 | -0.04 | 0.79 | ||
2061 | 16.04 | 13.21 | -2.82 | ---- | -0.84 | -0.04 | 0.79 | ||
2062 | 16.08 | 13.22 | -2.87 | ---- | -0.84 | -0.04 | 0.80 | ||
2063 | 16.13 | 13.22 | -2.91 | ---- | -0.84 | -0.04 | 0.80 | ||
2064 | 16.17 | 13.22 | -2.95 | ---- | -0.85 | -0.04 | 0.80 | ||
2065 | 16.22 | 13.22 | -2.99 | ---- | -0.85 | -0.04 | 0.81 | ||
2066 | 16.26 | 13.23 | -3.04 | ---- | -0.85 | -0.04 | 0.81 | ||
2067 | 16.31 | 13.23 | -3.08 | ---- | -0.86 | -0.04 | 0.81 | ||
2068 | 16.36 | 13.23 | -3.13 | ---- | -0.86 | -0.05 | 0.81 | ||
2069 | 16.41 | 13.24 | -3.18 | ---- | -0.86 | -0.05 | 0.82 | ||
2070 | 16.46 | 13.24 | -3.22 | ---- | -0.86 | -0.05 | 0.82 | ||
2071 | 16.51 | 13.24 | -3.26 | ---- | -0.87 | -0.05 | 0.82 | ||
2072 | 16.54 | 13.24 | -3.30 | ---- | -0.87 | -0.05 | 0.82 | ||
2073 | 16.58 | 13.25 | -3.33 | ---- | -0.87 | -0.05 | 0.82 | ||
2074 | 16.61 | 13.25 | -3.36 | ---- | -0.87 | -0.05 | 0.83 | ||
2075 | 16.63 | 13.25 | -3.38 | ---- | -0.87 | -0.05 | 0.83 | ||
2076 | 16.64 | 13.25 | -3.39 | ---- | -0.87 | -0.05 | 0.83 | ||
2077 | 16.65 | 13.25 | -3.40 | ---- | -0.87 | -0.05 | 0.83 | ||
2078 | 16.65 | 13.25 | -3.40 | ---- | -0.87 | -0.05 | 0.83 | ||
2079 | 16.64 | 13.25 | -3.39 | ---- | -0.87 | -0.05 | 0.83 | ||
2080 | 16.64 | 13.25 | -3.38 | ---- | -0.87 | -0.05 | 0.83 | ||
2081 | 16.63 | 13.25 | -3.38 | ---- | -0.87 | -0.05 | 0.83 | ||
2082 | 16.63 | 13.25 | -3.38 | ---- | -0.87 | -0.05 | 0.83 | ||
2083 | 16.64 | 13.25 | -3.39 | ---- | -0.87 | -0.05 | 0.83 | ||
2084 | 16.65 | 13.25 | -3.40 | ---- | -0.88 | -0.05 | 0.83 | ||
2085 | 16.67 | 13.25 | -3.42 | ---- | -0.88 | -0.05 | 0.83 | ||
2086 | 16.70 | 13.25 | -3.45 | ---- | -0.88 | -0.05 | 0.83 | ||
2087 | 16.74 | 13.26 | -3.48 | ---- | -0.88 | -0.05 | 0.83 | ||
2088 | 16.77 | 13.26 | -3.52 | ---- | -0.88 | -0.05 | 0.84 | ||
2089 | 16.82 | 13.26 | -3.56 | ---- | -0.88 | -0.05 | 0.84 | ||
2090 | 16.86 | 13.26 | -3.60 | ---- | -0.89 | -0.05 | 0.84 | ||
2091 | 16.91 | 13.27 | -3.64 | ---- | -0.89 | -0.05 | 0.84 | ||
2092 | 16.95 | 13.27 | -3.68 | ---- | -0.89 | -0.05 | 0.84 |
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 | 16.02% | 13.81% | -2.21% | 2036 | -0.65% | -0.03% | 0.61% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
Based on Intermediate Assumptions of the 2017 Trustees Report.