Detailed Single Year Tables
Description of Proposed Provision:
B7.2: Reduce benefits by 5 percent for those newly eligible for benefits in 2022 and later.
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 | 14.30 | 12.93 | -1.37 | 231 | -0.00 | -0.00 | 0.00 | ||
| 2023 | 14.41 | 12.91 | -1.50 | 214 | -0.02 | -0.00 | 0.02 | ||
| 2024 | 14.60 | 12.94 | -1.66 | 197 | -0.03 | -0.00 | 0.03 | ||
| 2025 | 14.80 | 12.96 | -1.84 | 179 | -0.05 | -0.00 | 0.05 | ||
| 2026 | 15.03 | 13.08 | -1.95 | 161 | -0.08 | -0.00 | 0.07 | ||
| 2027 | 15.25 | 13.10 | -2.16 | 143 | -0.11 | -0.00 | 0.10 | ||
| 2028 | 15.48 | 13.13 | -2.35 | 125 | -0.15 | -0.01 | 0.14 | ||
| 2029 | 15.69 | 13.16 | -2.53 | 108 | -0.18 | -0.01 | 0.18 | ||
| 2030 | 15.88 | 13.18 | -2.70 | 90 | -0.23 | -0.01 | 0.22 | ||
| 2031 | 16.02 | 13.19 | -2.82 | 72 | -0.27 | -0.01 | 0.26 | ||
| 2032 | 16.13 | 13.20 | -2.92 | 54 | -0.31 | -0.01 | 0.29 | ||
| 2033 | 16.21 | 13.21 | -3.00 | 36 | -0.35 | -0.02 | 0.33 | ||
| 2034 | 16.27 | 13.22 | -3.06 | 17 | -0.38 | -0.02 | 0.37 | ||
| 2035 | 16.32 | 13.22 | -3.09 | ---- | -0.42 | -0.02 | 0.40 | ||
| 2036 | 16.35 | 13.23 | -3.12 | ---- | -0.45 | -0.02 | 0.43 | ||
| 2037 | 16.38 | 13.23 | -3.14 | ---- | -0.49 | -0.02 | 0.46 | ||
| 2038 | 16.40 | 13.24 | -3.16 | ---- | -0.52 | -0.03 | 0.49 | ||
| 2039 | 16.40 | 13.24 | -3.17 | ---- | -0.55 | -0.03 | 0.52 | ||
| 2040 | 16.40 | 13.24 | -3.16 | ---- | -0.58 | -0.03 | 0.55 | ||
| 2041 | 16.42 | 13.24 | -3.17 | ---- | -0.60 | -0.03 | 0.57 | ||
| 2042 | 16.41 | 13.24 | -3.17 | ---- | -0.63 | -0.03 | 0.59 | ||
| 2043 | 16.39 | 13.24 | -3.15 | ---- | -0.65 | -0.03 | 0.62 | ||
| 2044 | 16.37 | 13.24 | -3.13 | ---- | -0.67 | -0.03 | 0.64 | ||
| 2045 | 16.35 | 13.24 | -3.11 | ---- | -0.69 | -0.04 | 0.66 | ||
| 2046 | 16.34 | 13.24 | -3.10 | ---- | -0.71 | -0.04 | 0.68 | ||
| 2047 | 16.34 | 13.24 | -3.10 | ---- | -0.73 | -0.04 | 0.70 | ||
| 2048 | 16.35 | 13.25 | -3.10 | ---- | -0.75 | -0.04 | 0.71 | ||
| 2049 | 16.35 | 13.25 | -3.10 | ---- | -0.77 | -0.04 | 0.73 | ||
| 2050 | 16.35 | 13.25 | -3.10 | ---- | -0.78 | -0.04 | 0.74 | ||
| 2051 | 16.36 | 13.25 | -3.11 | ---- | -0.80 | -0.04 | 0.75 | ||
| 2052 | 16.38 | 13.25 | -3.13 | ---- | -0.81 | -0.04 | 0.77 | ||
| 2053 | 16.40 | 13.26 | -3.14 | ---- | -0.82 | -0.04 | 0.78 | ||
| 2054 | 16.42 | 13.26 | -3.17 | ---- | -0.83 | -0.04 | 0.78 | ||
| 2055 | 16.46 | 13.26 | -3.20 | ---- | -0.84 | -0.04 | 0.79 | ||
| 2056 | 16.49 | 13.26 | -3.23 | ---- | -0.84 | -0.05 | 0.80 | ||
| 2057 | 16.53 | 13.27 | -3.27 | ---- | -0.85 | -0.05 | 0.80 | ||
| 2058 | 16.58 | 13.27 | -3.31 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2059 | 16.63 | 13.28 | -3.35 | ---- | -0.86 | -0.05 | 0.81 | ||
| 2060 | 16.68 | 13.28 | -3.40 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2061 | 16.73 | 13.29 | -3.45 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2062 | 16.78 | 13.29 | -3.49 | ---- | -0.87 | -0.05 | 0.83 | ||
| 2063 | 16.82 | 13.29 | -3.53 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2064 | 16.87 | 13.30 | -3.57 | ---- | -0.88 | -0.05 | 0.83 | ||
| 2065 | 16.92 | 13.30 | -3.62 | ---- | -0.88 | -0.05 | 0.84 | ||
| 2066 | 16.97 | 13.30 | -3.66 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2067 | 17.01 | 13.31 | -3.70 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2068 | 17.06 | 13.31 | -3.75 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2069 | 17.11 | 13.32 | -3.80 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2070 | 17.17 | 13.32 | -3.85 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2071 | 17.22 | 13.32 | -3.90 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2072 | 17.27 | 13.33 | -3.94 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2073 | 17.32 | 13.33 | -3.99 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2074 | 17.36 | 13.34 | -4.03 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2075 | 17.40 | 13.34 | -4.06 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2076 | 17.43 | 13.34 | -4.09 | ---- | -0.92 | -0.05 | 0.86 | ||
| 2077 | 17.45 | 13.34 | -4.11 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2078 | 17.46 | 13.34 | -4.11 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2079 | 17.45 | 13.34 | -4.11 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2080 | 17.44 | 13.34 | -4.09 | ---- | -0.92 | -0.05 | 0.87 | ||
| 2081 | 17.41 | 13.34 | -4.07 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2082 | 17.38 | 13.34 | -4.04 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2083 | 17.34 | 13.34 | -4.00 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2084 | 17.29 | 13.34 | -3.95 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2085 | 17.23 | 13.33 | -3.90 | ---- | -0.91 | -0.05 | 0.86 | ||
| 2086 | 17.17 | 13.33 | -3.84 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2087 | 17.11 | 13.33 | -3.78 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2088 | 17.04 | 13.32 | -3.72 | ---- | -0.90 | -0.05 | 0.85 | ||
| 2089 | 16.98 | 13.32 | -3.66 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2090 | 16.92 | 13.31 | -3.61 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2091 | 16.88 | 13.31 | -3.57 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2092 | 16.85 | 13.31 | -3.54 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2093 | 16.83 | 13.31 | -3.52 | ---- | -0.88 | -0.05 | 0.84 | ||
| 2094 | 16.82 | 13.31 | -3.51 | ---- | -0.88 | -0.05 | 0.84 | ||
| 2095 | 16.82 | 13.31 | -3.51 | ---- | -0.88 | -0.05 | 0.84 | ||
| 2096 | 16.82 | 13.31 | -3.51 | ---- | -0.88 | -0.05 | 0.84 | ||
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 | 16.64% | 13.74% | -2.90% | 2034 | -0.67% | -0.04% | 0.64% | ||
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.