Detailed Single Year Tables
Description of Proposed Provision:
B4.1: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 38, phased in over the years 2020-2024.
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 |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | -0.00 | -0.00 | 0.00 | ||
| 2021 | 14.08 | 12.90 | -1.19 | 245 | -0.00 | -0.00 | 0.00 | ||
| 2022 | 14.22 | 12.92 | -1.30 | 229 | -0.01 | -0.00 | 0.01 | ||
| 2023 | 14.39 | 12.94 | -1.45 | 214 | -0.01 | -0.00 | 0.01 | ||
| 2024 | 14.57 | 12.97 | -1.60 | 197 | -0.02 | -0.00 | 0.02 | ||
| 2025 | 14.76 | 12.98 | -1.77 | 181 | -0.03 | -0.00 | 0.03 | ||
| 2026 | 14.95 | 13.11 | -1.84 | 164 | -0.04 | -0.00 | 0.04 | ||
| 2027 | 15.13 | 13.13 | -2.00 | 148 | -0.06 | -0.00 | 0.05 | ||
| 2028 | 15.36 | 13.17 | -2.19 | 132 | -0.08 | -0.00 | 0.07 | ||
| 2029 | 15.53 | 13.18 | -2.35 | 116 | -0.09 | -0.01 | 0.09 | ||
| 2030 | 15.69 | 13.20 | -2.49 | 100 | -0.11 | -0.01 | 0.11 | ||
| 2031 | 15.83 | 13.21 | -2.63 | 84 | -0.13 | -0.01 | 0.12 | ||
| 2032 | 15.96 | 13.22 | -2.74 | 67 | -0.15 | -0.01 | 0.14 | ||
| 2033 | 16.06 | 13.23 | -2.84 | 50 | -0.17 | -0.01 | 0.16 | ||
| 2034 | 16.14 | 13.23 | -2.91 | 33 | -0.18 | -0.01 | 0.17 | ||
| 2035 | 16.20 | 13.24 | -2.96 | 16 | -0.20 | -0.01 | 0.19 | ||
| 2036 | 16.25 | 13.25 | -3.00 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2037 | 16.29 | 13.25 | -3.04 | ---- | -0.23 | -0.01 | 0.21 | ||
| 2038 | 16.32 | 13.25 | -3.07 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2039 | 16.35 | 13.26 | -3.09 | ---- | -0.25 | -0.01 | 0.24 | ||
| 2040 | 16.35 | 13.26 | -3.09 | ---- | -0.27 | -0.02 | 0.25 | ||
| 2041 | 16.33 | 13.26 | -3.08 | ---- | -0.28 | -0.02 | 0.26 | ||
| 2042 | 16.30 | 13.26 | -3.05 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2043 | 16.26 | 13.26 | -3.01 | ---- | -0.30 | -0.02 | 0.28 | ||
| 2044 | 16.22 | 13.25 | -2.96 | ---- | -0.30 | -0.02 | 0.29 | ||
| 2045 | 16.18 | 13.25 | -2.92 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2046 | 16.13 | 13.25 | -2.88 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2047 | 16.10 | 13.25 | -2.85 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2048 | 16.07 | 13.25 | -2.82 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2049 | 16.04 | 13.25 | -2.79 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2050 | 16.02 | 13.25 | -2.77 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2051 | 16.01 | 13.25 | -2.76 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2052 | 16.01 | 13.25 | -2.76 | ---- | -0.36 | -0.02 | 0.33 | ||
| 2053 | 16.01 | 13.25 | -2.76 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2054 | 16.02 | 13.25 | -2.77 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2055 | 16.04 | 13.26 | -2.79 | ---- | -0.37 | -0.02 | 0.34 | ||
| 2056 | 16.07 | 13.26 | -2.81 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2057 | 16.11 | 13.26 | -2.85 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2058 | 16.15 | 13.27 | -2.89 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2059 | 16.20 | 13.27 | -2.93 | ---- | -0.38 | -0.02 | 0.35 | ||
| 2060 | 16.25 | 13.27 | -2.98 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2061 | 16.30 | 13.28 | -3.02 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2062 | 16.35 | 13.28 | -3.07 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2063 | 16.41 | 13.29 | -3.12 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2064 | 16.46 | 13.29 | -3.17 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2065 | 16.51 | 13.29 | -3.22 | ---- | -0.39 | -0.02 | 0.36 | ||
| 2066 | 16.57 | 13.30 | -3.27 | ---- | -0.39 | -0.02 | 0.36 | ||
| 2067 | 16.63 | 13.30 | -3.32 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2068 | 16.68 | 13.31 | -3.38 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2069 | 16.74 | 13.31 | -3.43 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2070 | 16.80 | 13.31 | -3.49 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2071 | 16.86 | 13.32 | -3.54 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2072 | 16.91 | 13.32 | -3.58 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2073 | 16.95 | 13.33 | -3.63 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2074 | 16.99 | 13.33 | -3.66 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2075 | 17.03 | 13.33 | -3.70 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2076 | 17.06 | 13.33 | -3.72 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2077 | 17.08 | 13.34 | -3.74 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2078 | 17.08 | 13.34 | -3.75 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2079 | 17.08 | 13.34 | -3.74 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2080 | 17.06 | 13.34 | -3.73 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2081 | 17.05 | 13.34 | -3.71 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2082 | 17.03 | 13.33 | -3.69 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2083 | 17.01 | 13.33 | -3.67 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2084 | 16.98 | 13.33 | -3.65 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2085 | 16.96 | 13.33 | -3.63 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2086 | 16.95 | 13.33 | -3.62 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2087 | 16.94 | 13.33 | -3.61 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2088 | 16.94 | 13.33 | -3.61 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2089 | 16.95 | 13.33 | -3.62 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2090 | 16.97 | 13.33 | -3.64 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2091 | 17.00 | 13.33 | -3.66 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2092 | 17.04 | 13.33 | -3.70 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2093 | 17.08 | 13.34 | -3.74 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2094 | 17.13 | 13.34 | -3.79 | ---- | -0.39 | -0.02 | 0.37 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 16.31% | 13.79% | -2.52% | 2035 | -0.28% | -0.02% | 0.27% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.