Detailed Single Year Tables
Description of Proposed Provision:
F1: Starting in 2021, cover newly hired State and local government employees.
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 | 12.93 | -1.12 | 248 | 0.00 | 0.03 | 0.03 | ||
| 2022 | 14.25 | 12.99 | -1.26 | 233 | -0.00 | 0.06 | 0.06 | ||
| 2023 | 14.44 | 13.04 | -1.40 | 217 | 0.00 | 0.09 | 0.09 | ||
| 2024 | 14.64 | 13.10 | -1.55 | 201 | 0.00 | 0.12 | 0.12 | ||
| 2025 | 14.88 | 13.14 | -1.74 | 185 | 0.00 | 0.15 | 0.14 | ||
| 2026 | 15.11 | 13.29 | -1.82 | 168 | 0.00 | 0.17 | 0.17 | ||
| 2027 | 15.35 | 13.34 | -2.01 | 151 | 0.00 | 0.19 | 0.19 | ||
| 2028 | 15.59 | 13.40 | -2.19 | 135 | 0.00 | 0.21 | 0.21 | ||
| 2029 | 15.84 | 13.45 | -2.38 | 118 | 0.00 | 0.23 | 0.22 | ||
| 2030 | 16.03 | 13.49 | -2.54 | 101 | 0.01 | 0.24 | 0.24 | ||
| 2031 | 16.20 | 13.52 | -2.68 | 84 | 0.01 | 0.26 | 0.25 | ||
| 2032 | 16.34 | 13.54 | -2.80 | 68 | 0.01 | 0.28 | 0.26 | ||
| 2033 | 16.47 | 13.57 | -2.90 | 51 | 0.01 | 0.29 | 0.28 | ||
| 2034 | 16.57 | 13.59 | -2.98 | 33 | 0.01 | 0.30 | 0.29 | ||
| 2035 | 16.64 | 13.61 | -3.03 | 16 | 0.02 | 0.32 | 0.30 | ||
| 2036 | 16.71 | 13.63 | -3.08 | ---- | 0.02 | 0.33 | 0.31 | ||
| 2037 | 16.76 | 13.65 | -3.12 | ---- | 0.02 | 0.34 | 0.32 | ||
| 2038 | 16.81 | 13.66 | -3.15 | ---- | 0.03 | 0.35 | 0.33 | ||
| 2039 | 16.85 | 13.68 | -3.17 | ---- | 0.03 | 0.37 | 0.33 | ||
| 2040 | 16.88 | 13.69 | -3.19 | ---- | 0.03 | 0.38 | 0.34 | ||
| 2041 | 16.90 | 13.71 | -3.19 | ---- | 0.04 | 0.39 | 0.35 | ||
| 2042 | 16.91 | 13.72 | -3.19 | ---- | 0.05 | 0.40 | 0.35 | ||
| 2043 | 16.90 | 13.73 | -3.17 | ---- | 0.05 | 0.41 | 0.36 | ||
| 2044 | 16.89 | 13.74 | -3.15 | ---- | 0.06 | 0.42 | 0.37 | ||
| 2045 | 16.88 | 13.75 | -3.13 | ---- | 0.06 | 0.43 | 0.37 | ||
| 2046 | 16.87 | 13.76 | -3.11 | ---- | 0.07 | 0.45 | 0.37 | ||
| 2047 | 16.87 | 13.78 | -3.10 | ---- | 0.08 | 0.46 | 0.37 | ||
| 2048 | 16.88 | 13.79 | -3.09 | ---- | 0.09 | 0.47 | 0.38 | ||
| 2049 | 16.89 | 13.80 | -3.09 | ---- | 0.10 | 0.48 | 0.38 | ||
| 2050 | 16.90 | 13.81 | -3.08 | ---- | 0.11 | 0.49 | 0.38 | ||
| 2051 | 16.92 | 13.84 | -3.08 | ---- | 0.12 | 0.51 | 0.39 | ||
| 2052 | 16.95 | 13.84 | -3.11 | ---- | 0.14 | 0.51 | 0.38 | ||
| 2053 | 16.98 | 13.84 | -3.14 | ---- | 0.15 | 0.52 | 0.36 | ||
| 2054 | 17.03 | 13.85 | -3.18 | ---- | 0.17 | 0.52 | 0.35 | ||
| 2055 | 17.07 | 13.85 | -3.22 | ---- | 0.18 | 0.52 | 0.34 | ||
| 2056 | 17.13 | 13.86 | -3.27 | ---- | 0.20 | 0.52 | 0.32 | ||
| 2057 | 17.19 | 13.86 | -3.33 | ---- | 0.22 | 0.52 | 0.30 | ||
| 2058 | 17.27 | 13.87 | -3.40 | ---- | 0.24 | 0.52 | 0.28 | ||
| 2059 | 17.34 | 13.87 | -3.46 | ---- | 0.25 | 0.52 | 0.27 | ||
| 2060 | 17.41 | 13.88 | -3.53 | ---- | 0.27 | 0.52 | 0.25 | ||
| 2061 | 17.50 | 13.88 | -3.61 | ---- | 0.29 | 0.52 | 0.23 | ||
| 2062 | 17.58 | 13.89 | -3.69 | ---- | 0.31 | 0.52 | 0.21 | ||
| 2063 | 17.67 | 13.90 | -3.77 | ---- | 0.34 | 0.53 | 0.19 | ||
| 2064 | 17.75 | 13.90 | -3.85 | ---- | 0.36 | 0.53 | 0.17 | ||
| 2065 | 17.83 | 13.91 | -3.92 | ---- | 0.38 | 0.53 | 0.15 | ||
| 2066 | 17.92 | 13.92 | -4.01 | ---- | 0.40 | 0.53 | 0.13 | ||
| 2067 | 18.01 | 13.92 | -4.09 | ---- | 0.42 | 0.53 | 0.11 | ||
| 2068 | 18.10 | 13.93 | -4.18 | ---- | 0.44 | 0.53 | 0.09 | ||
| 2069 | 18.19 | 13.93 | -4.26 | ---- | 0.46 | 0.53 | 0.07 | ||
| 2070 | 18.28 | 13.94 | -4.34 | ---- | 0.48 | 0.53 | 0.06 | ||
| 2071 | 18.37 | 13.95 | -4.42 | ---- | 0.50 | 0.54 | 0.04 | ||
| 2072 | 18.45 | 13.95 | -4.50 | ---- | 0.52 | 0.54 | 0.02 | ||
| 2073 | 18.52 | 13.96 | -4.56 | ---- | 0.54 | 0.54 | 0.00 | ||
| 2074 | 18.59 | 13.96 | -4.63 | ---- | 0.55 | 0.54 | -0.01 | ||
| 2075 | 18.65 | 13.97 | -4.68 | ---- | 0.57 | 0.54 | -0.03 | ||
| 2076 | 18.70 | 13.97 | -4.73 | ---- | 0.59 | 0.54 | -0.05 | ||
| 2077 | 18.74 | 13.97 | -4.77 | ---- | 0.60 | 0.54 | -0.06 | ||
| 2078 | 18.77 | 13.98 | -4.79 | ---- | 0.61 | 0.54 | -0.07 | ||
| 2079 | 18.78 | 13.98 | -4.80 | ---- | 0.63 | 0.54 | -0.08 | ||
| 2080 | 18.77 | 13.98 | -4.80 | ---- | 0.64 | 0.54 | -0.09 | ||
| 2081 | 18.77 | 13.98 | -4.79 | ---- | 0.65 | 0.55 | -0.11 | ||
| 2082 | 18.75 | 13.98 | -4.77 | ---- | 0.66 | 0.55 | -0.11 | ||
| 2083 | 18.73 | 13.98 | -4.76 | ---- | 0.67 | 0.55 | -0.12 | ||
| 2084 | 18.71 | 13.97 | -4.73 | ---- | 0.67 | 0.55 | -0.13 | ||
| 2085 | 18.68 | 13.97 | -4.70 | ---- | 0.68 | 0.55 | -0.13 | ||
| 2086 | 18.65 | 13.97 | -4.68 | ---- | 0.69 | 0.55 | -0.14 | ||
| 2087 | 18.62 | 13.97 | -4.65 | ---- | 0.69 | 0.55 | -0.15 | ||
| 2088 | 18.59 | 13.97 | -4.63 | ---- | 0.70 | 0.55 | -0.15 | ||
| 2089 | 18.58 | 13.97 | -4.61 | ---- | 0.70 | 0.55 | -0.15 | ||
| 2090 | 18.57 | 13.96 | -4.61 | ---- | 0.71 | 0.55 | -0.16 | ||
| 2091 | 18.58 | 13.97 | -4.62 | ---- | 0.71 | 0.55 | -0.17 | ||
| 2092 | 18.60 | 13.97 | -4.63 | ---- | 0.72 | 0.55 | -0.17 | ||
| 2093 | 18.62 | 13.97 | -4.66 | ---- | 0.72 | 0.55 | -0.17 | ||
| 2094 | 18.66 | 13.97 | -4.69 | ---- | 0.72 | 0.55 | -0.17 | ||
| 2095 | 18.70 | 13.97 | -4.73 | ---- | 0.73 | 0.55 | -0.18 | ||
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 | 17.32% | 14.27% | -3.06% | 2035 | 0.26% | 0.42% | 0.16% | ||
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.