Detailed Single Year Tables
Description of Proposed Provision:
E3.9: Beginning in 2027, apply 2 percent payroll tax rate on earnings over the wage-indexed equivalent of $200,000 in 2017 (about $288,600 in 2027), with the threshold wage-indexed after 2027. Do not provide benefit credit for additional earnings taxed.
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 | 14.09 | 12.90 | -1.19 | 245 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.23 | 12.92 | -1.31 | 229 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.40 | 12.94 | -1.46 | 213 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.59 | 12.97 | -1.62 | 197 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.79 | 12.99 | -1.80 | 180 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 14.99 | 13.11 | -1.88 | 163 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.19 | 13.40 | -1.80 | 147 | 0.00 | 0.26 | 0.26 | ||
| 2028 | 15.43 | 13.45 | -1.98 | 132 | -0.00 | 0.27 | 0.27 | ||
| 2029 | 15.63 | 13.46 | -2.16 | 117 | -0.00 | 0.27 | 0.27 | ||
| 2030 | 15.80 | 13.48 | -2.33 | 102 | -0.00 | 0.27 | 0.27 | ||
| 2031 | 15.97 | 13.49 | -2.47 | 87 | -0.00 | 0.27 | 0.27 | ||
| 2032 | 16.11 | 13.50 | -2.61 | 71 | -0.00 | 0.27 | 0.28 | ||
| 2033 | 16.23 | 13.51 | -2.72 | 56 | -0.00 | 0.27 | 0.28 | ||
| 2034 | 16.33 | 13.52 | -2.81 | 40 | -0.00 | 0.27 | 0.28 | ||
| 2035 | 16.40 | 13.53 | -2.87 | 23 | -0.00 | 0.27 | 0.28 | ||
| 2036 | 16.46 | 13.53 | -2.93 | 6 | -0.00 | 0.27 | 0.28 | ||
| 2037 | 16.52 | 13.54 | -2.98 | ---- | -0.00 | 0.27 | 0.28 | ||
| 2038 | 16.56 | 13.54 | -3.02 | ---- | -0.00 | 0.27 | 0.28 | ||
| 2039 | 16.60 | 13.55 | -3.06 | ---- | -0.00 | 0.27 | 0.28 | ||
| 2040 | 16.61 | 13.55 | -3.07 | ---- | -0.00 | 0.27 | 0.28 | ||
| 2041 | 16.61 | 13.55 | -3.06 | ---- | -0.00 | 0.27 | 0.28 | ||
| 2042 | 16.59 | 13.55 | -3.04 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2043 | 16.55 | 13.55 | -3.01 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2044 | 16.52 | 13.55 | -2.97 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2045 | 16.48 | 13.55 | -2.94 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2046 | 16.45 | 13.55 | -2.90 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2047 | 16.42 | 13.54 | -2.88 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2048 | 16.40 | 13.55 | -2.86 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2049 | 16.38 | 13.55 | -2.83 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2050 | 16.36 | 13.55 | -2.82 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2051 | 16.36 | 13.55 | -2.81 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2052 | 16.36 | 13.55 | -2.81 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2053 | 16.37 | 13.55 | -2.82 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2054 | 16.38 | 13.55 | -2.83 | ---- | -0.00 | 0.28 | 0.28 | ||
| 2055 | 16.40 | 13.55 | -2.85 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2056 | 16.44 | 13.56 | -2.88 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2057 | 16.47 | 13.56 | -2.91 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2058 | 16.52 | 13.56 | -2.96 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2059 | 16.57 | 13.57 | -3.00 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2060 | 16.62 | 13.57 | -3.05 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2061 | 16.67 | 13.58 | -3.10 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2062 | 16.73 | 13.58 | -3.15 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2063 | 16.78 | 13.59 | -3.19 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2064 | 16.83 | 13.59 | -3.24 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2065 | 16.89 | 13.59 | -3.30 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2066 | 16.95 | 13.60 | -3.35 | ---- | -0.01 | 0.28 | 0.28 | ||
| 2067 | 17.01 | 13.60 | -3.40 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2068 | 17.07 | 13.61 | -3.46 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2069 | 17.13 | 13.61 | -3.51 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2070 | 17.19 | 13.62 | -3.57 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2071 | 17.24 | 13.62 | -3.62 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2072 | 17.29 | 13.62 | -3.67 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2073 | 17.34 | 13.63 | -3.71 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2074 | 17.38 | 13.63 | -3.75 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2075 | 17.42 | 13.63 | -3.79 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2076 | 17.45 | 13.64 | -3.81 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2077 | 17.47 | 13.64 | -3.83 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2078 | 17.47 | 13.64 | -3.83 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2079 | 17.47 | 13.64 | -3.83 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2080 | 17.45 | 13.64 | -3.81 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2081 | 17.43 | 13.64 | -3.80 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2082 | 17.41 | 13.64 | -3.78 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2083 | 17.39 | 13.64 | -3.75 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2084 | 17.37 | 13.63 | -3.73 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2085 | 17.34 | 13.63 | -3.71 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2086 | 17.33 | 13.63 | -3.70 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2087 | 17.32 | 13.63 | -3.69 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2088 | 17.32 | 13.63 | -3.68 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2089 | 17.33 | 13.63 | -3.69 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2090 | 17.35 | 13.63 | -3.71 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2091 | 17.38 | 13.64 | -3.74 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2092 | 17.42 | 13.64 | -3.78 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2093 | 17.46 | 13.64 | -3.82 | ---- | -0.01 | 0.28 | 0.29 | ||
| 2094 | 17.51 | 13.65 | -3.87 | ---- | -0.01 | 0.28 | 0.29 | ||
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 | 16.59% | 14.05% | -2.54% | 2036 | -0.01% | 0.24% | 0.25% | ||
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.