Detailed Single Year Tables
Description of Proposed Provision:
A7: Starting December 2021, reduce the annual COLA by 1 percentage point, but not to less than zero. In cases where the unreduced COLA is less than 1 percentage point, do not carry over the unused reduction into future years.
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 | 14.12 | 12.92 | -1.20 | 235 | -0.13 | -0.00 | 0.12 | ||
| 2023 | 14.18 | 12.93 | -1.24 | 222 | -0.26 | -0.01 | 0.25 | ||
| 2024 | 14.26 | 12.96 | -1.30 | 208 | -0.39 | -0.02 | 0.37 | ||
| 2025 | 14.36 | 12.97 | -1.39 | 194 | -0.52 | -0.02 | 0.49 | ||
| 2026 | 14.47 | 13.09 | -1.38 | 181 | -0.64 | -0.03 | 0.61 | ||
| 2027 | 14.58 | 13.11 | -1.47 | 168 | -0.77 | -0.04 | 0.73 | ||
| 2028 | 14.69 | 13.14 | -1.55 | 154 | -0.89 | -0.05 | 0.85 | ||
| 2029 | 14.82 | 13.17 | -1.65 | 141 | -1.01 | -0.06 | 0.96 | ||
| 2030 | 14.89 | 13.18 | -1.71 | 129 | -1.13 | -0.06 | 1.07 | ||
| 2031 | 14.95 | 13.19 | -1.77 | 117 | -1.23 | -0.07 | 1.17 | ||
| 2032 | 15.00 | 13.19 | -1.80 | 105 | -1.33 | -0.07 | 1.26 | ||
| 2033 | 15.02 | 13.20 | -1.83 | 93 | -1.43 | -0.08 | 1.35 | ||
| 2034 | 15.03 | 13.20 | -1.83 | 82 | -1.52 | -0.08 | 1.43 | ||
| 2035 | 15.03 | 13.20 | -1.83 | 71 | -1.60 | -0.09 | 1.51 | ||
| 2036 | 15.02 | 13.20 | -1.81 | 59 | -1.67 | -0.09 | 1.58 | ||
| 2037 | 15.00 | 13.21 | -1.79 | 48 | -1.74 | -0.10 | 1.64 | ||
| 2038 | 14.98 | 13.21 | -1.78 | 37 | -1.80 | -0.10 | 1.70 | ||
| 2039 | 14.96 | 13.21 | -1.75 | 26 | -1.86 | -0.11 | 1.75 | ||
| 2040 | 14.94 | 13.21 | -1.73 | 15 | -1.91 | -0.11 | 1.80 | ||
| 2041 | 14.90 | 13.21 | -1.70 | 3 | -1.96 | -0.11 | 1.84 | ||
| 2042 | 14.86 | 13.20 | -1.66 | ---- | -2.00 | -0.11 | 1.88 | ||
| 2043 | 14.82 | 13.20 | -1.62 | ---- | -2.03 | -0.12 | 1.91 | ||
| 2044 | 14.77 | 13.20 | -1.57 | ---- | -2.06 | -0.12 | 1.94 | ||
| 2045 | 14.74 | 13.20 | -1.54 | ---- | -2.08 | -0.12 | 1.96 | ||
| 2046 | 14.70 | 13.20 | -1.50 | ---- | -2.10 | -0.12 | 1.98 | ||
| 2047 | 14.67 | 13.20 | -1.48 | ---- | -2.12 | -0.12 | 1.99 | ||
| 2048 | 14.66 | 13.20 | -1.46 | ---- | -2.13 | -0.12 | 2.01 | ||
| 2049 | 14.64 | 13.20 | -1.45 | ---- | -2.14 | -0.12 | 2.02 | ||
| 2050 | 14.64 | 13.20 | -1.44 | ---- | -2.15 | -0.12 | 2.02 | ||
| 2051 | 14.64 | 13.20 | -1.44 | ---- | -2.15 | -0.13 | 2.03 | ||
| 2052 | 14.65 | 13.20 | -1.45 | ---- | -2.16 | -0.13 | 2.03 | ||
| 2053 | 14.67 | 13.20 | -1.46 | ---- | -2.16 | -0.13 | 2.04 | ||
| 2054 | 14.69 | 13.21 | -1.49 | ---- | -2.17 | -0.13 | 2.04 | ||
| 2055 | 14.72 | 13.21 | -1.51 | ---- | -2.17 | -0.13 | 2.05 | ||
| 2056 | 14.75 | 13.21 | -1.54 | ---- | -2.18 | -0.13 | 2.05 | ||
| 2057 | 14.79 | 13.21 | -1.58 | ---- | -2.18 | -0.13 | 2.06 | ||
| 2058 | 14.84 | 13.22 | -1.62 | ---- | -2.19 | -0.13 | 2.06 | ||
| 2059 | 14.89 | 13.22 | -1.66 | ---- | -2.20 | -0.13 | 2.07 | ||
| 2060 | 14.93 | 13.23 | -1.71 | ---- | -2.21 | -0.13 | 2.08 | ||
| 2061 | 14.98 | 13.23 | -1.75 | ---- | -2.22 | -0.13 | 2.09 | ||
| 2062 | 15.03 | 13.23 | -1.80 | ---- | -2.23 | -0.13 | 2.10 | ||
| 2063 | 15.08 | 13.24 | -1.85 | ---- | -2.24 | -0.13 | 2.11 | ||
| 2064 | 15.13 | 13.24 | -1.89 | ---- | -2.26 | -0.13 | 2.12 | ||
| 2065 | 15.19 | 13.25 | -1.94 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2066 | 15.24 | 13.25 | -1.99 | ---- | -2.29 | -0.14 | 2.15 | ||
| 2067 | 15.29 | 13.25 | -2.04 | ---- | -2.30 | -0.14 | 2.16 | ||
| 2068 | 15.35 | 13.26 | -2.09 | ---- | -2.32 | -0.14 | 2.18 | ||
| 2069 | 15.40 | 13.26 | -2.14 | ---- | -2.33 | -0.14 | 2.19 | ||
| 2070 | 15.46 | 13.27 | -2.19 | ---- | -2.35 | -0.14 | 2.21 | ||
| 2071 | 15.51 | 13.27 | -2.24 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2072 | 15.55 | 13.27 | -2.28 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2073 | 15.60 | 13.28 | -2.32 | ---- | -2.39 | -0.14 | 2.25 | ||
| 2074 | 15.63 | 13.28 | -2.35 | ---- | -2.40 | -0.14 | 2.26 | ||
| 2075 | 15.67 | 13.28 | -2.38 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2076 | 15.69 | 13.29 | -2.40 | ---- | -2.42 | -0.14 | 2.28 | ||
| 2077 | 15.70 | 13.29 | -2.42 | ---- | -2.43 | -0.15 | 2.29 | ||
| 2078 | 15.71 | 13.29 | -2.42 | ---- | -2.44 | -0.15 | 2.30 | ||
| 2079 | 15.70 | 13.29 | -2.41 | ---- | -2.45 | -0.15 | 2.30 | ||
| 2080 | 15.68 | 13.29 | -2.39 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2081 | 15.66 | 13.29 | -2.37 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2082 | 15.63 | 13.28 | -2.34 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2083 | 15.60 | 13.28 | -2.31 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2084 | 15.56 | 13.28 | -2.28 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2085 | 15.52 | 13.28 | -2.24 | ---- | -2.47 | -0.15 | 2.33 | ||
| 2086 | 15.48 | 13.28 | -2.21 | ---- | -2.47 | -0.15 | 2.33 | ||
| 2087 | 15.45 | 13.27 | -2.18 | ---- | -2.47 | -0.15 | 2.33 | ||
| 2088 | 15.42 | 13.27 | -2.15 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2089 | 15.40 | 13.27 | -2.13 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2090 | 15.39 | 13.27 | -2.12 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2091 | 15.40 | 13.27 | -2.13 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2092 | 15.41 | 13.27 | -2.14 | ---- | -2.47 | -0.15 | 2.32 | ||
| 2093 | 15.43 | 13.27 | -2.16 | ---- | -2.47 | -0.15 | 2.33 | ||
| 2094 | 15.46 | 13.27 | -2.19 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2095 | 15.49 | 13.28 | -2.22 | ---- | -2.48 | -0.15 | 2.33 | ||
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 | 15.16% | 13.74% | -1.42% | 2041 | -1.90% | -0.11% | 1.79% | ||
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.