Detailed Single Year Tables
Description of Proposed Provision:
B4.1: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 38, phased in over the years 2023-2027.
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 | 14.44 | 12.95 | -1.49 | 194 | -0.00 | -0.00 | 0.00 | ||
| 2025 | 14.65 | 12.97 | -1.68 | 177 | -0.00 | -0.00 | 0.00 | ||
| 2026 | 14.88 | 13.08 | -1.80 | 160 | -0.01 | -0.00 | 0.01 | ||
| 2027 | 15.09 | 13.10 | -1.99 | 143 | -0.02 | -0.00 | 0.01 | ||
| 2028 | 15.30 | 13.14 | -2.16 | 126 | -0.03 | -0.00 | 0.02 | ||
| 2029 | 15.49 | 13.17 | -2.32 | 109 | -0.04 | -0.00 | 0.04 | ||
| 2030 | 15.67 | 13.20 | -2.47 | 92 | -0.05 | -0.00 | 0.05 | ||
| 2031 | 15.84 | 13.23 | -2.61 | 75 | -0.07 | -0.00 | 0.06 | ||
| 2032 | 15.98 | 13.24 | -2.74 | 58 | -0.09 | -0.01 | 0.08 | ||
| 2033 | 16.10 | 13.25 | -2.85 | 41 | -0.10 | -0.01 | 0.10 | ||
| 2034 | 16.20 | 13.26 | -2.94 | 24 | -0.12 | -0.01 | 0.11 | ||
| 2035 | 16.28 | 13.26 | -3.02 | 6 | -0.14 | -0.01 | 0.13 | ||
| 2036 | 16.34 | 13.27 | -3.07 | ---- | -0.16 | -0.01 | 0.15 | ||
| 2037 | 16.40 | 13.28 | -3.13 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2038 | 16.45 | 13.28 | -3.17 | ---- | -0.19 | -0.01 | 0.18 | ||
| 2039 | 16.48 | 13.28 | -3.20 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2040 | 16.50 | 13.29 | -3.22 | ---- | -0.22 | -0.01 | 0.20 | ||
| 2041 | 16.51 | 13.29 | -3.22 | ---- | -0.23 | -0.01 | 0.22 | ||
| 2042 | 16.52 | 13.29 | -3.23 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2043 | 16.53 | 13.29 | -3.24 | ---- | -0.26 | -0.02 | 0.24 | ||
| 2044 | 16.53 | 13.29 | -3.24 | ---- | -0.27 | -0.02 | 0.25 | ||
| 2045 | 16.54 | 13.29 | -3.25 | ---- | -0.28 | -0.02 | 0.26 | ||
| 2046 | 16.55 | 13.29 | -3.26 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2047 | 16.56 | 13.29 | -3.27 | ---- | -0.30 | -0.02 | 0.28 | ||
| 2048 | 16.58 | 13.30 | -3.28 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2049 | 16.59 | 13.30 | -3.30 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2050 | 16.62 | 13.30 | -3.32 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2051 | 16.64 | 13.30 | -3.34 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2052 | 16.66 | 13.30 | -3.36 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2053 | 16.70 | 13.31 | -3.39 | ---- | -0.36 | -0.02 | 0.33 | ||
| 2054 | 16.74 | 13.31 | -3.43 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2055 | 16.78 | 13.31 | -3.47 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2056 | 16.83 | 13.32 | -3.51 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2057 | 16.88 | 13.32 | -3.56 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2058 | 16.94 | 13.33 | -3.61 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2059 | 17.00 | 13.33 | -3.67 | ---- | -0.39 | -0.02 | 0.36 | ||
| 2060 | 17.06 | 13.34 | -3.72 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2061 | 17.12 | 13.34 | -3.78 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2062 | 17.18 | 13.35 | -3.83 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2063 | 17.23 | 13.35 | -3.88 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2064 | 17.28 | 13.35 | -3.93 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2065 | 17.33 | 13.36 | -3.97 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2066 | 17.38 | 13.36 | -4.02 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2067 | 17.43 | 13.37 | -4.07 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2068 | 17.48 | 13.37 | -4.11 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2069 | 17.54 | 13.37 | -4.16 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2070 | 17.59 | 13.38 | -4.22 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2071 | 17.65 | 13.38 | -4.27 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2072 | 17.70 | 13.39 | -4.31 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2073 | 17.75 | 13.39 | -4.36 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2074 | 17.80 | 13.39 | -4.40 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2075 | 17.84 | 13.40 | -4.44 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2076 | 17.87 | 13.40 | -4.47 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2077 | 17.90 | 13.40 | -4.49 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2078 | 17.90 | 13.40 | -4.50 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2079 | 17.90 | 13.40 | -4.50 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2080 | 17.89 | 13.40 | -4.48 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2081 | 17.86 | 13.40 | -4.46 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2082 | 17.83 | 13.40 | -4.43 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2083 | 17.79 | 13.40 | -4.39 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2084 | 17.75 | 13.40 | -4.35 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2085 | 17.70 | 13.39 | -4.30 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2086 | 17.64 | 13.39 | -4.25 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2087 | 17.58 | 13.38 | -4.19 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2088 | 17.51 | 13.38 | -4.13 | ---- | -0.40 | -0.03 | 0.38 | ||
| 2089 | 17.45 | 13.38 | -4.07 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2090 | 17.39 | 13.37 | -4.02 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2091 | 17.34 | 13.37 | -3.97 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2092 | 17.31 | 13.37 | -3.94 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2093 | 17.28 | 13.37 | -3.91 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2094 | 17.26 | 13.36 | -3.89 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2095 | 17.25 | 13.36 | -3.88 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2096 | 17.25 | 13.36 | -3.88 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2097 | 17.25 | 13.36 | -3.89 | ---- | -0.39 | -0.02 | 0.37 | ||
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 | 16.91% | 13.76% | -3.15% | 2035 | -0.29% | -0.02% | 0.27% | ||
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.