Detailed Single Year Tables
Description of Proposed Provision:
B7.14: Eliminate completely the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), effective 2022.
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 |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.46 | 12.93 | -1.53 | 228 | 0.15 | 0.01 | -0.15 | ||
| 2023 | 14.58 | 12.92 | -1.66 | 211 | 0.15 | 0.01 | -0.14 | ||
| 2024 | 14.78 | 12.95 | -1.84 | 192 | 0.15 | 0.01 | -0.14 | ||
| 2025 | 15.00 | 12.96 | -2.04 | 173 | 0.14 | 0.01 | -0.14 | ||
| 2026 | 15.25 | 13.08 | -2.16 | 154 | 0.14 | 0.01 | -0.14 | ||
| 2027 | 15.50 | 13.11 | -2.40 | 135 | 0.14 | 0.01 | -0.13 | ||
| 2028 | 15.76 | 13.14 | -2.62 | 116 | 0.14 | 0.01 | -0.13 | ||
| 2029 | 16.01 | 13.18 | -2.83 | 97 | 0.14 | 0.01 | -0.13 | ||
| 2030 | 16.24 | 13.20 | -3.04 | 78 | 0.13 | 0.01 | -0.13 | ||
| 2031 | 16.42 | 13.21 | -3.20 | 58 | 0.13 | 0.01 | -0.13 | ||
| 2032 | 16.57 | 13.22 | -3.34 | 39 | 0.13 | 0.01 | -0.13 | ||
| 2033 | 16.69 | 13.24 | -3.45 | 19 | 0.13 | 0.01 | -0.12 | ||
| 2034 | 16.79 | 13.24 | -3.55 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2035 | 16.87 | 13.25 | -3.62 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2036 | 16.93 | 13.26 | -3.67 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2037 | 16.99 | 13.26 | -3.73 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2038 | 17.04 | 13.27 | -3.77 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2039 | 17.08 | 13.27 | -3.81 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2040 | 17.11 | 13.28 | -3.83 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2041 | 17.14 | 13.28 | -3.86 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2042 | 17.16 | 13.28 | -3.88 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2043 | 17.17 | 13.28 | -3.88 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2044 | 17.17 | 13.28 | -3.88 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2045 | 17.17 | 13.29 | -3.89 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2046 | 17.18 | 13.29 | -3.89 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2047 | 17.20 | 13.29 | -3.91 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2048 | 17.22 | 13.29 | -3.93 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2049 | 17.24 | 13.29 | -3.94 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2050 | 17.26 | 13.30 | -3.96 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2051 | 17.28 | 13.30 | -3.98 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2052 | 17.31 | 13.30 | -4.01 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2053 | 17.34 | 13.31 | -4.04 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2054 | 17.37 | 13.31 | -4.07 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2055 | 17.41 | 13.31 | -4.10 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2056 | 17.46 | 13.32 | -4.14 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2057 | 17.51 | 13.32 | -4.19 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2058 | 17.56 | 13.33 | -4.23 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2059 | 17.61 | 13.33 | -4.28 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2060 | 17.67 | 13.33 | -4.33 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2061 | 17.72 | 13.34 | -4.38 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2062 | 17.78 | 13.34 | -4.43 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2063 | 17.83 | 13.35 | -4.48 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2064 | 17.88 | 13.35 | -4.52 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2065 | 17.93 | 13.36 | -4.57 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2066 | 17.98 | 13.36 | -4.62 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2067 | 18.03 | 13.36 | -4.66 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2068 | 18.08 | 13.37 | -4.71 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2069 | 18.14 | 13.37 | -4.76 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2070 | 18.19 | 13.38 | -4.82 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2071 | 18.25 | 13.38 | -4.87 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2072 | 18.30 | 13.38 | -4.92 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2073 | 18.35 | 13.39 | -4.96 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2074 | 18.40 | 13.39 | -5.01 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2075 | 18.44 | 13.40 | -5.05 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2076 | 18.48 | 13.40 | -5.08 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2077 | 18.50 | 13.40 | -5.10 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2078 | 18.50 | 13.40 | -5.10 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2079 | 18.50 | 13.40 | -5.10 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2080 | 18.48 | 13.40 | -5.08 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2081 | 18.46 | 13.40 | -5.05 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2082 | 18.42 | 13.40 | -5.02 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2083 | 18.38 | 13.40 | -4.98 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2084 | 18.32 | 13.39 | -4.93 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2085 | 18.27 | 13.39 | -4.87 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2086 | 18.20 | 13.39 | -4.82 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2087 | 18.13 | 13.38 | -4.75 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2088 | 18.06 | 13.38 | -4.68 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2089 | 18.00 | 13.37 | -4.62 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2090 | 17.94 | 13.37 | -4.57 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2091 | 17.89 | 13.37 | -4.52 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2092 | 17.86 | 13.37 | -4.49 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2093 | 17.84 | 13.37 | -4.47 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2094 | 17.83 | 13.37 | -4.46 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2095 | 17.82 | 13.37 | -4.46 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2096 | 17.83 | 13.37 | -4.46 | ---- | 0.12 | 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 |
||
| 2021-2095 | 17.44% | 13.78% | -3.66% | 2033 | 0.13% | 0.01% | -0.12% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.