Detailed Single Year Tables
Description of Proposed Provision:
B4.2: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 40, phased in over the years 2023-2031.
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 | 15.83 | 13.23 | -2.60 | 75 | -0.07 | -0.00 | 0.07 | ||
| 2032 | 15.97 | 13.24 | -2.73 | 59 | -0.10 | -0.01 | 0.09 | ||
| 2033 | 16.08 | 13.25 | -2.83 | 41 | -0.12 | -0.01 | 0.12 | ||
| 2034 | 16.17 | 13.26 | -2.92 | 24 | -0.15 | -0.01 | 0.14 | ||
| 2035 | 16.24 | 13.26 | -2.98 | 7 | -0.18 | -0.01 | 0.17 | ||
| 2036 | 16.29 | 13.27 | -3.03 | ---- | -0.21 | -0.01 | 0.19 | ||
| 2037 | 16.34 | 13.27 | -3.07 | ---- | -0.23 | -0.01 | 0.22 | ||
| 2038 | 16.38 | 13.28 | -3.10 | ---- | -0.26 | -0.02 | 0.25 | ||
| 2039 | 16.40 | 13.28 | -3.12 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2040 | 16.41 | 13.28 | -3.13 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2041 | 16.40 | 13.28 | -3.12 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2042 | 16.40 | 13.28 | -3.12 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2043 | 16.40 | 13.28 | -3.12 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2044 | 16.40 | 13.28 | -3.11 | ---- | -0.41 | -0.02 | 0.38 | ||
| 2045 | 16.39 | 13.28 | -3.11 | ---- | -0.43 | -0.03 | 0.40 | ||
| 2046 | 16.39 | 13.28 | -3.11 | ---- | -0.45 | -0.03 | 0.42 | ||
| 2047 | 16.39 | 13.28 | -3.11 | ---- | -0.47 | -0.03 | 0.44 | ||
| 2048 | 16.40 | 13.28 | -3.11 | ---- | -0.49 | -0.03 | 0.46 | ||
| 2049 | 16.41 | 13.29 | -3.12 | ---- | -0.51 | -0.03 | 0.48 | ||
| 2050 | 16.42 | 13.29 | -3.13 | ---- | -0.53 | -0.03 | 0.50 | ||
| 2051 | 16.44 | 13.29 | -3.15 | ---- | -0.54 | -0.03 | 0.51 | ||
| 2052 | 16.45 | 13.29 | -3.16 | ---- | -0.56 | -0.03 | 0.53 | ||
| 2053 | 16.48 | 13.29 | -3.18 | ---- | -0.58 | -0.04 | 0.54 | ||
| 2054 | 16.51 | 13.30 | -3.21 | ---- | -0.59 | -0.04 | 0.55 | ||
| 2055 | 16.54 | 13.30 | -3.25 | ---- | -0.60 | -0.04 | 0.57 | ||
| 2056 | 16.59 | 13.30 | -3.28 | ---- | -0.62 | -0.04 | 0.58 | ||
| 2057 | 16.64 | 13.31 | -3.33 | ---- | -0.63 | -0.04 | 0.59 | ||
| 2058 | 16.69 | 13.31 | -3.38 | ---- | -0.64 | -0.04 | 0.60 | ||
| 2059 | 16.74 | 13.32 | -3.43 | ---- | -0.64 | -0.04 | 0.61 | ||
| 2060 | 16.80 | 13.32 | -3.48 | ---- | -0.65 | -0.04 | 0.61 | ||
| 2061 | 16.85 | 13.32 | -3.53 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2062 | 16.91 | 13.33 | -3.58 | ---- | -0.66 | -0.04 | 0.62 | ||
| 2063 | 16.96 | 13.33 | -3.62 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2064 | 17.01 | 13.34 | -3.67 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2065 | 17.05 | 13.34 | -3.71 | ---- | -0.68 | -0.04 | 0.63 | ||
| 2066 | 17.10 | 13.34 | -3.76 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2067 | 17.15 | 13.35 | -3.80 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2068 | 17.20 | 13.35 | -3.85 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2069 | 17.26 | 13.36 | -3.90 | ---- | -0.69 | -0.04 | 0.64 | ||
| 2070 | 17.31 | 13.36 | -3.95 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2071 | 17.36 | 13.36 | -4.00 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2072 | 17.41 | 13.37 | -4.05 | ---- | -0.70 | -0.04 | 0.65 | ||
| 2073 | 17.46 | 13.37 | -4.09 | ---- | -0.70 | -0.04 | 0.65 | ||
| 2074 | 17.51 | 13.38 | -4.14 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2075 | 17.55 | 13.38 | -4.17 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2076 | 17.58 | 13.38 | -4.20 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2077 | 17.61 | 13.38 | -4.22 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2078 | 17.62 | 13.39 | -4.23 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2079 | 17.61 | 13.39 | -4.23 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2080 | 17.60 | 13.38 | -4.21 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2081 | 17.57 | 13.38 | -4.19 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2082 | 17.54 | 13.38 | -4.16 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2083 | 17.51 | 13.38 | -4.13 | ---- | -0.70 | -0.04 | 0.66 | ||
| 2084 | 17.46 | 13.38 | -4.09 | ---- | -0.70 | -0.04 | 0.65 | ||
| 2085 | 17.41 | 13.38 | -4.04 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2086 | 17.36 | 13.37 | -3.98 | ---- | -0.69 | -0.04 | 0.65 | ||
| 2087 | 17.29 | 13.37 | -3.93 | ---- | -0.69 | -0.04 | 0.64 | ||
| 2088 | 17.23 | 13.36 | -3.87 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2089 | 17.17 | 13.36 | -3.81 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2090 | 17.11 | 13.36 | -3.76 | ---- | -0.68 | -0.04 | 0.64 | ||
| 2091 | 17.07 | 13.35 | -3.71 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2092 | 17.03 | 13.35 | -3.68 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2093 | 17.00 | 13.35 | -3.65 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2094 | 16.98 | 13.35 | -3.64 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2095 | 16.97 | 13.35 | -3.63 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2096 | 16.97 | 13.35 | -3.63 | ---- | -0.67 | -0.04 | 0.63 | ||
| 2097 | 16.98 | 13.35 | -3.63 | ---- | -0.67 | -0.04 | 0.63 | ||
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 | 16.73% | 13.75% | -2.98% | 2035 | -0.47% | -0.03% | 0.44% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2022 Trustees Report.