Detailed Single Year Tables
Description of Proposed Provision:
F1: Starting in 2023, cover newly hired State and local government employees.
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 | 13.06 | -1.24 | 211 | 0.00 | 0.03 | 0.03 | ||
| 2024 | 14.45 | 13.02 | -1.43 | 194 | -0.00 | 0.06 | 0.06 | ||
| 2025 | 14.66 | 13.06 | -1.60 | 178 | 0.00 | 0.09 | 0.09 | ||
| 2026 | 14.88 | 13.20 | -1.69 | 161 | 0.00 | 0.12 | 0.12 | ||
| 2027 | 15.10 | 13.24 | -1.86 | 145 | 0.00 | 0.14 | 0.14 | ||
| 2028 | 15.33 | 13.30 | -2.02 | 128 | 0.00 | 0.16 | 0.16 | ||
| 2029 | 15.53 | 13.36 | -2.17 | 112 | 0.00 | 0.18 | 0.18 | ||
| 2030 | 15.72 | 13.40 | -2.32 | 96 | 0.00 | 0.20 | 0.20 | ||
| 2031 | 15.91 | 13.45 | -2.46 | 80 | 0.00 | 0.22 | 0.21 | ||
| 2032 | 16.07 | 13.48 | -2.59 | 64 | 0.01 | 0.24 | 0.23 | ||
| 2033 | 16.21 | 13.51 | -2.71 | 48 | 0.01 | 0.25 | 0.24 | ||
| 2034 | 16.33 | 13.53 | -2.80 | 31 | 0.01 | 0.27 | 0.26 | ||
| 2035 | 16.43 | 13.55 | -2.88 | 14 | 0.01 | 0.28 | 0.27 | ||
| 2036 | 16.51 | 13.57 | -2.94 | ---- | 0.01 | 0.29 | 0.28 | ||
| 2037 | 16.59 | 13.59 | -3.00 | ---- | 0.02 | 0.31 | 0.29 | ||
| 2038 | 16.66 | 13.61 | -3.05 | ---- | 0.02 | 0.32 | 0.30 | ||
| 2039 | 16.71 | 13.63 | -3.09 | ---- | 0.02 | 0.33 | 0.31 | ||
| 2040 | 16.75 | 13.64 | -3.11 | ---- | 0.03 | 0.34 | 0.31 | ||
| 2041 | 16.77 | 13.65 | -3.12 | ---- | 0.03 | 0.35 | 0.32 | ||
| 2042 | 16.80 | 13.67 | -3.13 | ---- | 0.03 | 0.36 | 0.33 | ||
| 2043 | 16.82 | 13.68 | -3.14 | ---- | 0.04 | 0.38 | 0.34 | ||
| 2044 | 16.85 | 13.69 | -3.16 | ---- | 0.05 | 0.39 | 0.34 | ||
| 2045 | 16.87 | 13.71 | -3.17 | ---- | 0.05 | 0.40 | 0.35 | ||
| 2046 | 16.90 | 13.72 | -3.18 | ---- | 0.06 | 0.41 | 0.35 | ||
| 2047 | 16.93 | 13.73 | -3.19 | ---- | 0.06 | 0.42 | 0.36 | ||
| 2048 | 16.96 | 13.74 | -3.22 | ---- | 0.07 | 0.43 | 0.36 | ||
| 2049 | 17.00 | 13.76 | -3.24 | ---- | 0.08 | 0.44 | 0.36 | ||
| 2050 | 17.04 | 13.77 | -3.27 | ---- | 0.09 | 0.45 | 0.36 | ||
| 2051 | 17.08 | 13.78 | -3.30 | ---- | 0.10 | 0.46 | 0.36 | ||
| 2052 | 17.12 | 13.80 | -3.32 | ---- | 0.11 | 0.47 | 0.37 | ||
| 2053 | 17.18 | 13.82 | -3.35 | ---- | 0.12 | 0.49 | 0.37 | ||
| 2054 | 17.24 | 13.83 | -3.41 | ---- | 0.14 | 0.50 | 0.36 | ||
| 2055 | 17.30 | 13.83 | -3.47 | ---- | 0.15 | 0.50 | 0.35 | ||
| 2056 | 17.37 | 13.84 | -3.53 | ---- | 0.16 | 0.50 | 0.33 | ||
| 2057 | 17.44 | 13.84 | -3.59 | ---- | 0.18 | 0.50 | 0.32 | ||
| 2058 | 17.52 | 13.85 | -3.67 | ---- | 0.20 | 0.50 | 0.31 | ||
| 2059 | 17.60 | 13.86 | -3.75 | ---- | 0.22 | 0.50 | 0.29 | ||
| 2060 | 17.68 | 13.86 | -3.82 | ---- | 0.23 | 0.50 | 0.27 | ||
| 2061 | 17.76 | 13.87 | -3.89 | ---- | 0.25 | 0.50 | 0.25 | ||
| 2062 | 17.84 | 13.87 | -3.96 | ---- | 0.27 | 0.51 | 0.24 | ||
| 2063 | 17.91 | 13.88 | -4.03 | ---- | 0.29 | 0.51 | 0.22 | ||
| 2064 | 17.99 | 13.89 | -4.10 | ---- | 0.31 | 0.51 | 0.20 | ||
| 2065 | 18.06 | 13.89 | -4.17 | ---- | 0.33 | 0.51 | 0.18 | ||
| 2066 | 18.13 | 13.90 | -4.24 | ---- | 0.35 | 0.51 | 0.16 | ||
| 2067 | 18.20 | 13.90 | -4.30 | ---- | 0.37 | 0.51 | 0.14 | ||
| 2068 | 18.28 | 13.91 | -4.37 | ---- | 0.39 | 0.51 | 0.12 | ||
| 2069 | 18.36 | 13.91 | -4.44 | ---- | 0.41 | 0.51 | 0.10 | ||
| 2070 | 18.44 | 13.92 | -4.52 | ---- | 0.43 | 0.52 | 0.08 | ||
| 2071 | 18.51 | 13.92 | -4.58 | ---- | 0.45 | 0.52 | 0.06 | ||
| 2072 | 18.58 | 13.93 | -4.65 | ---- | 0.47 | 0.52 | 0.05 | ||
| 2073 | 18.65 | 13.93 | -4.72 | ---- | 0.49 | 0.52 | 0.03 | ||
| 2074 | 18.72 | 13.94 | -4.78 | ---- | 0.51 | 0.52 | 0.01 | ||
| 2075 | 18.78 | 13.94 | -4.84 | ---- | 0.53 | 0.52 | -0.00 | ||
| 2076 | 18.83 | 13.95 | -4.88 | ---- | 0.54 | 0.52 | -0.02 | ||
| 2077 | 18.87 | 13.95 | -4.92 | ---- | 0.56 | 0.52 | -0.03 | ||
| 2078 | 18.89 | 13.95 | -4.94 | ---- | 0.57 | 0.52 | -0.05 | ||
| 2079 | 18.90 | 13.95 | -4.95 | ---- | 0.59 | 0.52 | -0.06 | ||
| 2080 | 18.90 | 13.95 | -4.94 | ---- | 0.60 | 0.53 | -0.07 | ||
| 2081 | 18.88 | 13.95 | -4.93 | ---- | 0.61 | 0.53 | -0.08 | ||
| 2082 | 18.86 | 13.95 | -4.91 | ---- | 0.62 | 0.53 | -0.09 | ||
| 2083 | 18.84 | 13.95 | -4.89 | ---- | 0.63 | 0.53 | -0.10 | ||
| 2084 | 18.80 | 13.95 | -4.85 | ---- | 0.64 | 0.53 | -0.11 | ||
| 2085 | 18.75 | 13.95 | -4.80 | ---- | 0.64 | 0.53 | -0.12 | ||
| 2086 | 18.70 | 13.94 | -4.75 | ---- | 0.65 | 0.53 | -0.12 | ||
| 2087 | 18.64 | 13.94 | -4.70 | ---- | 0.66 | 0.53 | -0.13 | ||
| 2088 | 18.58 | 13.93 | -4.64 | ---- | 0.66 | 0.53 | -0.14 | ||
| 2089 | 18.52 | 13.93 | -4.59 | ---- | 0.67 | 0.53 | -0.14 | ||
| 2090 | 18.46 | 13.93 | -4.53 | ---- | 0.67 | 0.53 | -0.14 | ||
| 2091 | 18.41 | 13.92 | -4.49 | ---- | 0.67 | 0.53 | -0.14 | ||
| 2092 | 18.38 | 13.92 | -4.46 | ---- | 0.68 | 0.53 | -0.15 | ||
| 2093 | 18.35 | 13.92 | -4.44 | ---- | 0.68 | 0.53 | -0.15 | ||
| 2094 | 18.34 | 13.92 | -4.42 | ---- | 0.68 | 0.53 | -0.15 | ||
| 2095 | 18.33 | 13.92 | -4.41 | ---- | 0.69 | 0.53 | -0.16 | ||
| 2096 | 18.33 | 13.92 | -4.41 | ---- | 0.69 | 0.53 | -0.16 | ||
| 2097 | 18.34 | 13.92 | -4.42 | ---- | 0.69 | 0.53 | -0.16 | ||
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 | 17.46% | 14.18% | -3.27% | 2035 | 0.26% | 0.41% | 0.15% | ||
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.