Detailed Single Year Tables
Description of Proposed Provision:
B7.8: Replace the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) with a revised reduction for most OASI benefits based on all earnings, beginning with beneficiaries newly eligible in 2028.
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 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.43 | 12.91 | -1.52 | 214 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.64 | 12.94 | -1.69 | 196 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.86 | 12.96 | -1.90 | 178 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.10 | 13.08 | -2.03 | 159 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.10 | -2.26 | 141 | 0.00 | 0.00 | 0.00 | ||
| 2028 | 15.62 | 13.14 | -2.49 | 122 | -0.00 | -0.00 | 0.00 | ||
| 2029 | 15.87 | 13.17 | -2.70 | 104 | -0.00 | -0.00 | 0.00 | ||
| 2030 | 16.10 | 13.19 | -2.91 | 85 | -0.00 | -0.00 | 0.00 | ||
| 2031 | 16.28 | 13.21 | -3.07 | 66 | -0.01 | -0.00 | 0.01 | ||
| 2032 | 16.43 | 13.22 | -3.21 | 47 | -0.01 | -0.00 | 0.01 | ||
| 2033 | 16.54 | 13.23 | -3.32 | 27 | -0.01 | -0.00 | 0.01 | ||
| 2034 | 16.64 | 13.24 | -3.40 | 7 | -0.02 | -0.00 | 0.02 | ||
| 2035 | 16.71 | 13.24 | -3.47 | ---- | -0.02 | -0.00 | 0.02 | ||
| 2036 | 16.77 | 13.25 | -3.52 | ---- | -0.03 | -0.00 | 0.03 | ||
| 2037 | 16.83 | 13.25 | -3.57 | ---- | -0.04 | -0.00 | 0.03 | ||
| 2038 | 16.87 | 13.26 | -3.61 | ---- | -0.04 | -0.00 | 0.04 | ||
| 2039 | 16.90 | 13.26 | -3.64 | ---- | -0.05 | -0.00 | 0.04 | ||
| 2040 | 16.93 | 13.27 | -3.66 | ---- | -0.05 | -0.00 | 0.05 | ||
| 2041 | 16.96 | 13.27 | -3.69 | ---- | -0.06 | -0.00 | 0.05 | ||
| 2042 | 16.98 | 13.27 | -3.71 | ---- | -0.06 | -0.00 | 0.06 | ||
| 2043 | 16.98 | 13.27 | -3.70 | ---- | -0.07 | -0.00 | 0.06 | ||
| 2044 | 16.97 | 13.27 | -3.70 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2045 | 16.97 | 13.28 | -3.70 | ---- | -0.07 | -0.00 | 0.07 | ||
| 2046 | 16.98 | 13.28 | -3.70 | ---- | -0.08 | -0.00 | 0.07 | ||
| 2047 | 16.99 | 13.28 | -3.72 | ---- | -0.08 | -0.00 | 0.08 | ||
| 2048 | 17.01 | 13.28 | -3.73 | ---- | -0.09 | -0.00 | 0.08 | ||
| 2049 | 17.03 | 13.28 | -3.74 | ---- | -0.09 | -0.01 | 0.08 | ||
| 2050 | 17.05 | 13.29 | -3.76 | ---- | -0.09 | -0.01 | 0.09 | ||
| 2051 | 17.06 | 13.29 | -3.78 | ---- | -0.10 | -0.01 | 0.09 | ||
| 2052 | 17.09 | 13.29 | -3.80 | ---- | -0.10 | -0.01 | 0.09 | ||
| 2053 | 17.12 | 13.29 | -3.82 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2054 | 17.15 | 13.30 | -3.85 | ---- | -0.10 | -0.01 | 0.10 | ||
| 2055 | 17.19 | 13.30 | -3.89 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2056 | 17.23 | 13.30 | -3.92 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2057 | 17.27 | 13.31 | -3.97 | ---- | -0.11 | -0.01 | 0.10 | ||
| 2058 | 17.32 | 13.31 | -4.01 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2059 | 17.38 | 13.32 | -4.06 | ---- | -0.11 | -0.01 | 0.11 | ||
| 2060 | 17.43 | 13.32 | -4.11 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2061 | 17.48 | 13.33 | -4.16 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2062 | 17.53 | 13.33 | -4.20 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2063 | 17.58 | 13.33 | -4.25 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2064 | 17.63 | 13.34 | -4.29 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2065 | 17.68 | 13.34 | -4.34 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2066 | 17.73 | 13.35 | -4.39 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2067 | 17.78 | 13.35 | -4.43 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2068 | 17.83 | 13.35 | -4.48 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2069 | 17.89 | 13.36 | -4.53 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2070 | 17.94 | 13.36 | -4.58 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2071 | 18.00 | 13.37 | -4.63 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2072 | 18.05 | 13.37 | -4.68 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2073 | 18.10 | 13.37 | -4.73 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2074 | 18.15 | 13.38 | -4.77 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2075 | 18.19 | 13.38 | -4.81 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2076 | 18.22 | 13.38 | -4.84 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2077 | 18.24 | 13.39 | -4.86 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2078 | 18.25 | 13.39 | -4.86 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2079 | 18.24 | 13.39 | -4.86 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2080 | 18.23 | 13.39 | -4.84 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2081 | 18.20 | 13.39 | -4.82 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2082 | 18.17 | 13.39 | -4.78 | ---- | -0.13 | -0.01 | 0.12 | ||
| 2083 | 18.13 | 13.38 | -4.74 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2084 | 18.07 | 13.38 | -4.69 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2085 | 18.02 | 13.38 | -4.64 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2086 | 17.95 | 13.37 | -4.58 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2087 | 17.89 | 13.37 | -4.52 | ---- | -0.12 | -0.01 | 0.12 | ||
| 2088 | 17.81 | 13.36 | -4.45 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2089 | 17.75 | 13.36 | -4.39 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2090 | 17.69 | 13.36 | -4.34 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2091 | 17.65 | 13.35 | -4.29 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2092 | 17.61 | 13.35 | -4.26 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2093 | 17.59 | 13.35 | -4.24 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2094 | 17.58 | 13.35 | -4.23 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2095 | 17.58 | 13.35 | -4.23 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2096 | 17.58 | 13.35 | -4.23 | ---- | -0.12 | -0.01 | 0.11 | ||
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 | 17.23% | 13.77% | -3.46% | 2034 | -0.08% | -0.00% | 0.08% | ||
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.