Detailed Single Year Tables
Description of Proposed Provision:
A5: Starting December 2023, add 1 percentage point to the annual COLA for beneficiaries who have lived past a "specified age". The "specified age" is the sum of: (1) 65 and (2) the unisex cohort life expectancy at age 65.
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 | 14.46 | 12.96 | -1.50 | 194 | 0.01 | 0.00 | -0.01 | ||
| 2025 | 14.68 | 12.97 | -1.71 | 177 | 0.03 | 0.00 | -0.03 | ||
| 2026 | 14.92 | 13.08 | -1.84 | 159 | 0.04 | 0.00 | -0.04 | ||
| 2027 | 15.15 | 13.10 | -2.05 | 142 | 0.05 | 0.00 | -0.05 | ||
| 2028 | 15.39 | 13.14 | -2.24 | 124 | 0.06 | 0.00 | -0.06 | ||
| 2029 | 15.60 | 13.18 | -2.42 | 107 | 0.07 | 0.00 | -0.06 | ||
| 2030 | 15.80 | 13.20 | -2.59 | 90 | 0.07 | 0.00 | -0.07 | ||
| 2031 | 15.99 | 13.24 | -2.75 | 72 | 0.08 | 0.00 | -0.08 | ||
| 2032 | 16.15 | 13.25 | -2.90 | 54 | 0.09 | 0.01 | -0.08 | ||
| 2033 | 16.30 | 13.26 | -3.04 | 36 | 0.09 | 0.01 | -0.09 | ||
| 2034 | 16.42 | 13.27 | -3.15 | 18 | 0.10 | 0.01 | -0.09 | ||
| 2035 | 16.52 | 13.28 | -3.24 | ---- | 0.10 | 0.01 | -0.10 | ||
| 2036 | 16.61 | 13.29 | -3.32 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2037 | 16.69 | 13.29 | -3.39 | ---- | 0.11 | 0.01 | -0.10 | ||
| 2038 | 16.75 | 13.30 | -3.46 | ---- | 0.11 | 0.01 | -0.11 | ||
| 2039 | 16.81 | 13.30 | -3.50 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2040 | 16.84 | 13.31 | -3.54 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2041 | 16.87 | 13.31 | -3.56 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2042 | 16.90 | 13.31 | -3.59 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2043 | 16.92 | 13.31 | -3.60 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2044 | 16.94 | 13.31 | -3.62 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2045 | 16.96 | 13.32 | -3.64 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2046 | 16.97 | 13.32 | -3.66 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2047 | 17.00 | 13.32 | -3.68 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2048 | 17.03 | 13.32 | -3.70 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2049 | 17.05 | 13.33 | -3.73 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2050 | 17.09 | 13.33 | -3.76 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2051 | 17.12 | 13.33 | -3.79 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2052 | 17.15 | 13.33 | -3.82 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2053 | 17.19 | 13.34 | -3.86 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2054 | 17.24 | 13.34 | -3.90 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2055 | 17.29 | 13.34 | -3.94 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2056 | 17.34 | 13.35 | -3.99 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2057 | 17.40 | 13.35 | -4.05 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2058 | 17.46 | 13.36 | -4.11 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2059 | 17.53 | 13.36 | -4.16 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2060 | 17.59 | 13.37 | -4.22 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2061 | 17.65 | 13.37 | -4.28 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2062 | 17.70 | 13.38 | -4.33 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2063 | 17.76 | 13.38 | -4.38 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2064 | 17.81 | 13.39 | -4.42 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2065 | 17.86 | 13.39 | -4.47 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2066 | 17.91 | 13.39 | -4.51 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2067 | 17.96 | 13.40 | -4.56 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2068 | 18.01 | 13.40 | -4.61 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2069 | 18.07 | 13.41 | -4.66 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2070 | 18.13 | 13.41 | -4.72 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2071 | 18.18 | 13.41 | -4.77 | ---- | 0.12 | 0.01 | -0.12 | ||
| 2072 | 18.24 | 13.42 | -4.82 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2073 | 18.29 | 13.42 | -4.87 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2074 | 18.34 | 13.43 | -4.91 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2075 | 18.39 | 13.43 | -4.95 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2076 | 18.42 | 13.43 | -4.99 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2077 | 18.45 | 13.44 | -5.01 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2078 | 18.46 | 13.44 | -5.02 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2079 | 18.46 | 13.44 | -5.02 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2080 | 18.44 | 13.44 | -5.00 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2081 | 18.42 | 13.44 | -4.98 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2082 | 18.38 | 13.43 | -4.95 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2083 | 18.34 | 13.43 | -4.91 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2084 | 18.30 | 13.43 | -4.87 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2085 | 18.24 | 13.43 | -4.82 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2086 | 18.18 | 13.42 | -4.76 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2087 | 18.12 | 13.42 | -4.70 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2088 | 18.05 | 13.41 | -4.63 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2089 | 17.98 | 13.41 | -4.57 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2090 | 17.93 | 13.41 | -4.52 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2091 | 17.87 | 13.40 | -4.47 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2092 | 17.84 | 13.40 | -4.44 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2093 | 17.81 | 13.40 | -4.41 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2094 | 17.79 | 13.40 | -4.39 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2095 | 17.78 | 13.40 | -4.38 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2096 | 17.78 | 13.40 | -4.38 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2097 | 17.78 | 13.40 | -4.39 | ---- | 0.14 | 0.01 | -0.13 | ||
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 | 17.32% | 13.79% | -3.53% | 2034 | 0.12% | 0.01% | -0.11% | ||
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.