Detailed Single Year Tables
Description of Proposed Provision:
B4.2: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 40, phased in over the years 2020-2028.
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 | 14.94 | 13.11 | -1.84 | 164 | -0.04 | -0.00 | 0.04 | ||
| 2027 | 15.13 | 13.13 | -2.00 | 148 | -0.06 | -0.00 | 0.06 | ||
| 2028 | 15.35 | 13.17 | -2.18 | 132 | -0.08 | -0.00 | 0.08 | ||
| 2029 | 15.52 | 13.18 | -2.33 | 116 | -0.11 | -0.01 | 0.10 | ||
| 2030 | 15.67 | 13.20 | -2.47 | 100 | -0.14 | -0.01 | 0.13 | ||
| 2031 | 15.80 | 13.21 | -2.59 | 84 | -0.16 | -0.01 | 0.15 | ||
| 2032 | 15.92 | 13.22 | -2.70 | 68 | -0.19 | -0.01 | 0.18 | ||
| 2033 | 16.01 | 13.22 | -2.78 | 51 | -0.22 | -0.01 | 0.21 | ||
| 2034 | 16.07 | 13.23 | -2.84 | 35 | -0.25 | -0.01 | 0.24 | ||
| 2035 | 16.12 | 13.24 | -2.88 | 18 | -0.28 | -0.02 | 0.26 | ||
| 2036 | 16.15 | 13.24 | -2.91 | 0 | -0.31 | -0.02 | 0.29 | ||
| 2037 | 16.19 | 13.24 | -2.94 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2038 | 16.21 | 13.25 | -2.96 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2039 | 16.22 | 13.25 | -2.97 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2040 | 16.21 | 13.25 | -2.96 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2041 | 16.19 | 13.25 | -2.94 | ---- | -0.42 | -0.02 | 0.40 | ||
| 2042 | 16.15 | 13.25 | -2.90 | ---- | -0.44 | -0.03 | 0.41 | ||
| 2043 | 16.10 | 13.25 | -2.85 | ---- | -0.46 | -0.03 | 0.43 | ||
| 2044 | 16.05 | 13.24 | -2.80 | ---- | -0.47 | -0.03 | 0.45 | ||
| 2045 | 16.00 | 13.24 | -2.75 | ---- | -0.49 | -0.03 | 0.46 | ||
| 2046 | 15.95 | 13.24 | -2.71 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2047 | 15.90 | 13.24 | -2.67 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2048 | 15.87 | 13.24 | -2.63 | ---- | -0.54 | -0.03 | 0.50 | ||
| 2049 | 15.84 | 13.24 | -2.60 | ---- | -0.55 | -0.03 | 0.52 | ||
| 2050 | 15.81 | 13.24 | -2.57 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2051 | 15.79 | 13.24 | -2.55 | ---- | -0.57 | -0.03 | 0.54 | ||
| 2052 | 15.78 | 13.24 | -2.55 | ---- | -0.58 | -0.03 | 0.55 | ||
| 2053 | 15.78 | 13.24 | -2.54 | ---- | -0.59 | -0.04 | 0.56 | ||
| 2054 | 15.79 | 13.24 | -2.55 | ---- | -0.60 | -0.04 | 0.56 | ||
| 2055 | 15.80 | 13.24 | -2.56 | ---- | -0.61 | -0.04 | 0.57 | ||
| 2056 | 15.83 | 13.24 | -2.58 | ---- | -0.61 | -0.04 | 0.58 | ||
| 2057 | 15.86 | 13.25 | -2.61 | ---- | -0.62 | -0.04 | 0.58 | ||
| 2058 | 15.90 | 13.25 | -2.65 | ---- | -0.63 | -0.04 | 0.59 | ||
| 2059 | 15.95 | 13.25 | -2.69 | ---- | -0.63 | -0.04 | 0.59 | ||
| 2060 | 15.99 | 13.26 | -2.73 | ---- | -0.63 | -0.04 | 0.60 | ||
| 2061 | 16.04 | 13.26 | -2.78 | ---- | -0.64 | -0.04 | 0.60 | ||
| 2062 | 16.09 | 13.27 | -2.83 | ---- | -0.64 | -0.04 | 0.60 | ||
| 2063 | 16.14 | 13.27 | -2.87 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2064 | 16.19 | 13.27 | -2.92 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2065 | 16.25 | 13.28 | -2.97 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2066 | 16.30 | 13.28 | -3.02 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2067 | 16.36 | 13.29 | -3.07 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2068 | 16.42 | 13.29 | -3.13 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2069 | 16.47 | 13.29 | -3.18 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2070 | 16.53 | 13.30 | -3.23 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2071 | 16.59 | 13.30 | -3.28 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2072 | 16.63 | 13.31 | -3.33 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2073 | 16.68 | 13.31 | -3.37 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2074 | 16.72 | 13.31 | -3.41 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2075 | 16.76 | 13.32 | -3.44 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2076 | 16.78 | 13.32 | -3.47 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2077 | 16.80 | 13.32 | -3.48 | ---- | -0.68 | -0.04 | 0.63 | ||
| 2078 | 16.81 | 13.32 | -3.49 | ---- | -0.68 | -0.04 | 0.63 | ||
| 2079 | 16.80 | 13.32 | -3.48 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2080 | 16.79 | 13.32 | -3.47 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2081 | 16.77 | 13.32 | -3.45 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2082 | 16.75 | 13.32 | -3.44 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2083 | 16.73 | 13.32 | -3.42 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2084 | 16.71 | 13.32 | -3.40 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2085 | 16.69 | 13.31 | -3.38 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2086 | 16.68 | 13.31 | -3.36 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2087 | 16.67 | 13.31 | -3.35 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2088 | 16.67 | 13.31 | -3.35 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2089 | 16.68 | 13.31 | -3.36 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2090 | 16.70 | 13.31 | -3.38 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2091 | 16.73 | 13.32 | -3.41 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2092 | 16.77 | 13.32 | -3.45 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2093 | 16.81 | 13.32 | -3.49 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2094 | 16.86 | 13.32 | -3.53 | ---- | -0.67 | -0.04 | 0.63 | ||
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 | 16.14% | 13.78% | -2.35% | 2036 | -0.46% | -0.03% | 0.43% | ||
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.