Detailed Single Year Tables
Description of Proposed Provision:
A2: Starting December 2023, reduce the annual COLA by 0.5 percentage point.
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 |
|||
| 2022 | 14.05 | 12.79 | -1.26 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.31 | 13.04 | -1.27 | 211 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.38 | 12.95 | -1.43 | 195 | -0.07 | -0.00 | 0.07 | ||
| 2025 | 14.52 | 12.96 | -1.55 | 179 | -0.14 | -0.01 | 0.13 | ||
| 2026 | 14.67 | 13.07 | -1.60 | 163 | -0.21 | -0.01 | 0.20 | ||
| 2027 | 14.82 | 13.09 | -1.73 | 148 | -0.28 | -0.01 | 0.27 | ||
| 2028 | 14.97 | 13.12 | -1.85 | 133 | -0.35 | -0.02 | 0.33 | ||
| 2029 | 15.11 | 13.15 | -1.95 | 118 | -0.42 | -0.02 | 0.40 | ||
| 2030 | 15.23 | 13.17 | -2.06 | 103 | -0.49 | -0.03 | 0.46 | ||
| 2031 | 15.35 | 13.20 | -2.15 | 88 | -0.55 | -0.03 | 0.52 | ||
| 2032 | 15.45 | 13.21 | -2.24 | 74 | -0.62 | -0.03 | 0.58 | ||
| 2033 | 15.53 | 13.22 | -2.31 | 59 | -0.67 | -0.04 | 0.64 | ||
| 2034 | 15.59 | 13.22 | -2.37 | 45 | -0.73 | -0.04 | 0.69 | ||
| 2035 | 15.64 | 13.23 | -2.41 | 30 | -0.78 | -0.04 | 0.74 | ||
| 2036 | 15.67 | 13.23 | -2.44 | 15 | -0.83 | -0.05 | 0.78 | ||
| 2037 | 15.70 | 13.24 | -2.47 | ---- | -0.87 | -0.05 | 0.82 | ||
| 2038 | 15.72 | 13.24 | -2.48 | ---- | -0.92 | -0.05 | 0.86 | ||
| 2039 | 15.73 | 13.24 | -2.49 | ---- | -0.95 | -0.05 | 0.90 | ||
| 2040 | 15.73 | 13.24 | -2.49 | ---- | -0.99 | -0.06 | 0.93 | ||
| 2041 | 15.72 | 13.24 | -2.48 | ---- | -1.02 | -0.06 | 0.96 | ||
| 2042 | 15.72 | 13.24 | -2.47 | ---- | -1.05 | -0.06 | 0.99 | ||
| 2043 | 15.71 | 13.24 | -2.47 | ---- | -1.07 | -0.06 | 1.01 | ||
| 2044 | 15.71 | 13.24 | -2.46 | ---- | -1.10 | -0.06 | 1.03 | ||
| 2045 | 15.71 | 13.24 | -2.46 | ---- | -1.12 | -0.06 | 1.05 | ||
| 2046 | 15.70 | 13.24 | -2.46 | ---- | -1.13 | -0.07 | 1.07 | ||
| 2047 | 15.71 | 13.25 | -2.47 | ---- | -1.15 | -0.07 | 1.08 | ||
| 2048 | 15.73 | 13.25 | -2.48 | ---- | -1.16 | -0.07 | 1.10 | ||
| 2049 | 15.74 | 13.25 | -2.49 | ---- | -1.18 | -0.07 | 1.11 | ||
| 2050 | 15.76 | 13.25 | -2.51 | ---- | -1.19 | -0.07 | 1.12 | ||
| 2051 | 15.79 | 13.25 | -2.53 | ---- | -1.19 | -0.07 | 1.13 | ||
| 2052 | 15.81 | 13.26 | -2.56 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2053 | 15.85 | 13.26 | -2.59 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2054 | 15.88 | 13.26 | -2.62 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2055 | 15.93 | 13.26 | -2.66 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2056 | 15.98 | 13.27 | -2.71 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2057 | 16.03 | 13.27 | -2.76 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2058 | 16.09 | 13.28 | -2.81 | ---- | -1.24 | -0.07 | 1.16 | ||
| 2059 | 16.15 | 13.28 | -2.86 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2060 | 16.20 | 13.29 | -2.92 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2061 | 16.26 | 13.29 | -2.97 | ---- | -1.25 | -0.07 | 1.18 | ||
| 2062 | 16.31 | 13.30 | -3.01 | ---- | -1.26 | -0.07 | 1.19 | ||
| 2063 | 16.36 | 13.30 | -3.06 | ---- | -1.27 | -0.07 | 1.19 | ||
| 2064 | 16.40 | 13.30 | -3.10 | ---- | -1.28 | -0.08 | 1.20 | ||
| 2065 | 16.45 | 13.31 | -3.14 | ---- | -1.28 | -0.08 | 1.21 | ||
| 2066 | 16.49 | 13.31 | -3.18 | ---- | -1.29 | -0.08 | 1.22 | ||
| 2067 | 16.53 | 13.31 | -3.22 | ---- | -1.30 | -0.08 | 1.22 | ||
| 2068 | 16.58 | 13.32 | -3.26 | ---- | -1.31 | -0.08 | 1.23 | ||
| 2069 | 16.63 | 13.32 | -3.31 | ---- | -1.32 | -0.08 | 1.24 | ||
| 2070 | 16.68 | 13.32 | -3.35 | ---- | -1.33 | -0.08 | 1.25 | ||
| 2071 | 16.72 | 13.33 | -3.40 | ---- | -1.33 | -0.08 | 1.25 | ||
| 2072 | 16.77 | 13.33 | -3.44 | ---- | -1.34 | -0.08 | 1.26 | ||
| 2073 | 16.81 | 13.34 | -3.48 | ---- | -1.35 | -0.08 | 1.27 | ||
| 2074 | 16.85 | 13.34 | -3.52 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2075 | 16.89 | 13.34 | -3.55 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2076 | 16.92 | 13.34 | -3.57 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2077 | 16.93 | 13.35 | -3.59 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2078 | 16.94 | 13.35 | -3.59 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2079 | 16.93 | 13.35 | -3.58 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2080 | 16.91 | 13.35 | -3.57 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2081 | 16.89 | 13.34 | -3.54 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2082 | 16.85 | 13.34 | -3.51 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2083 | 16.81 | 13.34 | -3.47 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2084 | 16.77 | 13.34 | -3.43 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2085 | 16.71 | 13.33 | -3.38 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2086 | 16.65 | 13.33 | -3.32 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2087 | 16.59 | 13.33 | -3.26 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2088 | 16.52 | 13.32 | -3.20 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2089 | 16.46 | 13.32 | -3.15 | ---- | -1.39 | -0.08 | 1.30 | ||
| 2090 | 16.41 | 13.32 | -3.09 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2091 | 16.36 | 13.31 | -3.05 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2092 | 16.32 | 13.31 | -3.01 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2093 | 16.30 | 13.31 | -2.99 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2094 | 16.28 | 13.31 | -2.97 | ---- | -1.38 | -0.08 | 1.29 | ||
| 2095 | 16.27 | 13.31 | -2.96 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2096 | 16.27 | 13.31 | -2.96 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2097 | 16.28 | 13.31 | -2.97 | ---- | -1.37 | -0.08 | 1.29 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2022-2096 | 16.13% | 13.72% | -2.42% | 2036 | -1.07% | -0.06% | 1.01% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2022 Trustees Report.