Detailed Single Year Tables
Description of Proposed Provision:
A2: Starting December 2021, reduce the annual COLA by 0.5 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 |
|||
| 2020 | 13.92 | 13.00 | -0.92 | 261 | 0.00 | 0.00 | 0.00 | ||
| 2021 | 14.05 | 12.90 | -1.15 | 248 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.18 | 12.93 | -1.26 | 234 | -0.07 | -0.00 | 0.07 | ||
| 2023 | 14.30 | 12.94 | -1.36 | 219 | -0.14 | -0.01 | 0.13 | ||
| 2024 | 14.44 | 12.97 | -1.47 | 204 | -0.21 | -0.01 | 0.20 | ||
| 2025 | 14.60 | 12.98 | -1.62 | 189 | -0.28 | -0.01 | 0.27 | ||
| 2026 | 14.77 | 13.11 | -1.66 | 173 | -0.35 | -0.02 | 0.33 | ||
| 2027 | 14.93 | 13.13 | -1.80 | 158 | -0.41 | -0.02 | 0.39 | ||
| 2028 | 15.10 | 13.16 | -1.94 | 143 | -0.48 | -0.03 | 0.46 | ||
| 2029 | 15.28 | 13.20 | -2.09 | 127 | -0.55 | -0.03 | 0.52 | ||
| 2030 | 15.41 | 13.21 | -2.20 | 112 | -0.61 | -0.03 | 0.58 | ||
| 2031 | 15.52 | 13.22 | -2.30 | 97 | -0.67 | -0.04 | 0.63 | ||
| 2032 | 15.61 | 13.23 | -2.38 | 82 | -0.73 | -0.04 | 0.69 | ||
| 2033 | 15.67 | 13.23 | -2.44 | 67 | -0.78 | -0.04 | 0.73 | ||
| 2034 | 15.72 | 13.24 | -2.48 | 52 | -0.83 | -0.05 | 0.78 | ||
| 2035 | 15.75 | 13.24 | -2.51 | 37 | -0.87 | -0.05 | 0.82 | ||
| 2036 | 15.77 | 13.25 | -2.52 | 22 | -0.91 | -0.05 | 0.86 | ||
| 2037 | 15.78 | 13.25 | -2.53 | 6 | -0.95 | -0.05 | 0.90 | ||
| 2038 | 15.80 | 13.25 | -2.54 | ---- | -0.99 | -0.06 | 0.93 | ||
| 2039 | 15.79 | 13.25 | -2.54 | ---- | -1.02 | -0.06 | 0.96 | ||
| 2040 | 15.79 | 13.26 | -2.54 | ---- | -1.05 | -0.06 | 0.99 | ||
| 2041 | 15.78 | 13.26 | -2.52 | ---- | -1.08 | -0.06 | 1.02 | ||
| 2042 | 15.76 | 13.26 | -2.50 | ---- | -1.10 | -0.06 | 1.04 | ||
| 2043 | 15.73 | 13.25 | -2.47 | ---- | -1.12 | -0.06 | 1.06 | ||
| 2044 | 15.70 | 13.25 | -2.44 | ---- | -1.14 | -0.07 | 1.07 | ||
| 2045 | 15.67 | 13.25 | -2.41 | ---- | -1.15 | -0.07 | 1.08 | ||
| 2046 | 15.64 | 13.25 | -2.39 | ---- | -1.16 | -0.07 | 1.10 | ||
| 2047 | 15.62 | 13.25 | -2.37 | ---- | -1.17 | -0.07 | 1.10 | ||
| 2048 | 15.61 | 13.25 | -2.36 | ---- | -1.18 | -0.07 | 1.11 | ||
| 2049 | 15.60 | 13.25 | -2.35 | ---- | -1.19 | -0.07 | 1.12 | ||
| 2050 | 15.60 | 13.25 | -2.34 | ---- | -1.19 | -0.07 | 1.12 | ||
| 2051 | 15.60 | 13.25 | -2.34 | ---- | -1.19 | -0.07 | 1.13 | ||
| 2052 | 15.61 | 13.26 | -2.35 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2053 | 15.63 | 13.26 | -2.37 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2054 | 15.66 | 13.26 | -2.39 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2055 | 15.69 | 13.26 | -2.42 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2056 | 15.72 | 13.27 | -2.46 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2057 | 15.76 | 13.27 | -2.49 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2058 | 15.81 | 13.28 | -2.54 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2059 | 15.86 | 13.28 | -2.58 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2060 | 15.92 | 13.28 | -2.63 | ---- | -1.23 | -0.07 | 1.15 | ||
| 2061 | 15.97 | 13.29 | -2.68 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2062 | 16.03 | 13.29 | -2.73 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2063 | 16.08 | 13.30 | -2.79 | ---- | -1.25 | -0.07 | 1.17 | ||
| 2064 | 16.14 | 13.30 | -2.84 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2065 | 16.20 | 13.31 | -2.89 | ---- | -1.26 | -0.07 | 1.19 | ||
| 2066 | 16.25 | 13.31 | -2.94 | ---- | -1.27 | -0.08 | 1.19 | ||
| 2067 | 16.32 | 13.31 | -3.00 | ---- | -1.28 | -0.08 | 1.20 | ||
| 2068 | 16.38 | 13.32 | -3.06 | ---- | -1.29 | -0.08 | 1.21 | ||
| 2069 | 16.44 | 13.32 | -3.11 | ---- | -1.30 | -0.08 | 1.22 | ||
| 2070 | 16.50 | 13.33 | -3.17 | ---- | -1.30 | -0.08 | 1.23 | ||
| 2071 | 16.56 | 13.33 | -3.23 | ---- | -1.31 | -0.08 | 1.23 | ||
| 2072 | 16.61 | 13.34 | -3.27 | ---- | -1.32 | -0.08 | 1.24 | ||
| 2073 | 16.66 | 13.34 | -3.32 | ---- | -1.33 | -0.08 | 1.25 | ||
| 2074 | 16.70 | 13.34 | -3.36 | ---- | -1.33 | -0.08 | 1.26 | ||
| 2075 | 16.74 | 13.35 | -3.39 | ---- | -1.34 | -0.08 | 1.26 | ||
| 2076 | 16.77 | 13.35 | -3.42 | ---- | -1.35 | -0.08 | 1.27 | ||
| 2077 | 16.79 | 13.35 | -3.43 | ---- | -1.35 | -0.08 | 1.27 | ||
| 2078 | 16.79 | 13.35 | -3.44 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2079 | 16.79 | 13.35 | -3.43 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2080 | 16.77 | 13.35 | -3.42 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2081 | 16.75 | 13.35 | -3.40 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2082 | 16.72 | 13.35 | -3.37 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2083 | 16.69 | 13.35 | -3.34 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2084 | 16.66 | 13.35 | -3.31 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2085 | 16.62 | 13.34 | -3.28 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2086 | 16.58 | 13.34 | -3.24 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2087 | 16.55 | 13.34 | -3.21 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2088 | 16.52 | 13.34 | -3.18 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2089 | 16.50 | 13.34 | -3.16 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2090 | 16.49 | 13.33 | -3.15 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2091 | 16.49 | 13.33 | -3.16 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2092 | 16.50 | 13.34 | -3.17 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2093 | 16.53 | 13.34 | -3.19 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2094 | 16.56 | 13.34 | -3.22 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2095 | 16.59 | 13.34 | -3.25 | ---- | -1.38 | -0.08 | 1.30 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2020-2094 | 16.01% | 13.79% | -2.22% | 2037 | -1.05% | -0.06% | 0.99% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2020 Trustees Report.