Detailed Single Year Tables
Description of Proposed Provision:
A5: Starting December 2021, add 1 percentage point to the annual COLA for beneficiaries who have lived past a "specified age". The "specified age" is the sum of: (1) 65 and (2) the unisex cohort life expectancy at age 65.
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 | 14.26 | 12.93 | -1.33 | 233 | 0.01 | 0.00 | -0.01 | ||
| 2023 | 14.46 | 12.95 | -1.52 | 216 | 0.03 | 0.00 | -0.02 | ||
| 2024 | 14.68 | 12.98 | -1.70 | 199 | 0.04 | 0.00 | -0.04 | ||
| 2025 | 14.93 | 13.00 | -1.93 | 182 | 0.05 | 0.00 | -0.05 | ||
| 2026 | 15.17 | 13.13 | -2.04 | 164 | 0.06 | 0.00 | -0.05 | ||
| 2027 | 15.41 | 13.15 | -2.26 | 146 | 0.07 | 0.00 | -0.06 | ||
| 2028 | 15.66 | 13.19 | -2.46 | 128 | 0.07 | 0.00 | -0.07 | ||
| 2029 | 15.91 | 13.23 | -2.68 | 110 | 0.08 | 0.00 | -0.07 | ||
| 2030 | 16.10 | 13.25 | -2.86 | 91 | 0.08 | 0.00 | -0.08 | ||
| 2031 | 16.27 | 13.26 | -3.01 | 73 | 0.09 | 0.00 | -0.08 | ||
| 2032 | 16.42 | 13.27 | -3.15 | 54 | 0.09 | 0.01 | -0.08 | ||
| 2033 | 16.55 | 13.28 | -3.26 | 35 | 0.09 | 0.01 | -0.09 | ||
| 2034 | 16.65 | 13.29 | -3.36 | 16 | 0.10 | 0.01 | -0.09 | ||
| 2035 | 16.73 | 13.30 | -3.43 | ---- | 0.10 | 0.01 | -0.10 | ||
| 2036 | 16.79 | 13.31 | -3.49 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2037 | 16.85 | 13.31 | -3.54 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2038 | 16.90 | 13.32 | -3.58 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2039 | 16.93 | 13.32 | -3.61 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2040 | 16.97 | 13.32 | -3.64 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2041 | 16.98 | 13.33 | -3.66 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2042 | 16.99 | 13.33 | -3.66 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2043 | 16.98 | 13.33 | -3.66 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2044 | 16.97 | 13.33 | -3.64 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2045 | 16.95 | 13.33 | -3.62 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2046 | 16.93 | 13.33 | -3.61 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2047 | 16.92 | 13.33 | -3.60 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2048 | 16.92 | 13.33 | -3.59 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2049 | 16.92 | 13.33 | -3.59 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2050 | 16.92 | 13.33 | -3.59 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2051 | 16.93 | 13.33 | -3.60 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2052 | 16.94 | 13.33 | -3.61 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2053 | 16.97 | 13.34 | -3.63 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2054 | 16.99 | 13.34 | -3.65 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2055 | 17.03 | 13.34 | -3.68 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2056 | 17.07 | 13.35 | -3.72 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2057 | 17.11 | 13.35 | -3.76 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2058 | 17.16 | 13.36 | -3.81 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2059 | 17.22 | 13.36 | -3.86 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2060 | 17.28 | 13.36 | -3.91 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2061 | 17.33 | 13.37 | -3.97 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2062 | 17.39 | 13.37 | -4.02 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2063 | 17.45 | 13.38 | -4.07 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2064 | 17.51 | 13.38 | -4.13 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2065 | 17.58 | 13.39 | -4.19 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2066 | 17.64 | 13.39 | -4.25 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2067 | 17.71 | 13.40 | -4.31 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2068 | 17.78 | 13.40 | -4.38 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2069 | 17.85 | 13.41 | -4.44 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2070 | 17.92 | 13.41 | -4.51 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2071 | 17.99 | 13.42 | -4.57 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2072 | 18.05 | 13.42 | -4.63 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2073 | 18.10 | 13.43 | -4.68 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2074 | 18.16 | 13.43 | -4.73 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2075 | 18.20 | 13.43 | -4.77 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2076 | 18.24 | 13.44 | -4.80 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2077 | 18.27 | 13.44 | -4.83 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2078 | 18.28 | 13.44 | -4.84 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2079 | 18.28 | 13.44 | -4.84 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2080 | 18.27 | 13.44 | -4.83 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2081 | 18.25 | 13.44 | -4.81 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2082 | 18.23 | 13.44 | -4.79 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2083 | 18.20 | 13.44 | -4.76 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2084 | 18.16 | 13.44 | -4.73 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2085 | 18.12 | 13.43 | -4.69 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2086 | 18.08 | 13.43 | -4.65 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2087 | 18.05 | 13.43 | -4.62 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2088 | 18.02 | 13.43 | -4.59 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2089 | 18.00 | 13.43 | -4.57 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2090 | 17.99 | 13.43 | -4.57 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2091 | 17.99 | 13.43 | -4.57 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2092 | 18.01 | 13.43 | -4.58 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2093 | 18.03 | 13.43 | -4.60 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2094 | 18.06 | 13.43 | -4.63 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2095 | 18.10 | 13.43 | -4.67 | ---- | 0.13 | 0.01 | -0.12 | ||
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 | 17.17% | 13.85% | -3.32% | 2034 | 0.11% | 0.01% | -0.10% | ||
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.