Detailed Single Year Tables
Description of Proposed Provision:
F1: Starting in 2024, 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 |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.87 | 12.91 | -1.96 | 187 | 0.00 | 0.02 | 0.02 | ||
| 2025 | 15.04 | 13.03 | -2.01 | 168 | -0.00 | 0.06 | 0.06 | ||
| 2026 | 15.23 | 13.17 | -2.07 | 150 | 0.00 | 0.09 | 0.09 | ||
| 2027 | 15.38 | 13.21 | -2.17 | 132 | 0.00 | 0.11 | 0.11 | ||
| 2028 | 15.55 | 13.27 | -2.29 | 115 | 0.00 | 0.14 | 0.14 | ||
| 2029 | 15.72 | 13.32 | -2.40 | 98 | 0.00 | 0.16 | 0.16 | ||
| 2030 | 15.87 | 13.36 | -2.51 | 82 | 0.00 | 0.18 | 0.18 | ||
| 2031 | 16.01 | 13.41 | -2.60 | 65 | 0.00 | 0.20 | 0.19 | ||
| 2032 | 16.15 | 13.45 | -2.70 | 48 | 0.00 | 0.21 | 0.21 | ||
| 2033 | 16.27 | 13.48 | -2.80 | 32 | 0.01 | 0.23 | 0.22 | ||
| 2034 | 16.39 | 13.50 | -2.89 | 15 | 0.01 | 0.24 | 0.24 | ||
| 2035 | 16.49 | 13.52 | -2.96 | ---- | 0.01 | 0.26 | 0.25 | ||
| 2036 | 16.57 | 13.55 | -3.02 | ---- | 0.01 | 0.27 | 0.26 | ||
| 2037 | 16.65 | 13.57 | -3.08 | ---- | 0.01 | 0.28 | 0.27 | ||
| 2038 | 16.71 | 13.58 | -3.13 | ---- | 0.02 | 0.30 | 0.28 | ||
| 2039 | 16.77 | 13.60 | -3.16 | ---- | 0.02 | 0.31 | 0.29 | ||
| 2040 | 16.80 | 13.62 | -3.19 | ---- | 0.02 | 0.32 | 0.30 | ||
| 2041 | 16.83 | 13.63 | -3.20 | ---- | 0.03 | 0.33 | 0.30 | ||
| 2042 | 16.85 | 13.64 | -3.20 | ---- | 0.03 | 0.34 | 0.31 | ||
| 2043 | 16.86 | 13.66 | -3.21 | ---- | 0.03 | 0.35 | 0.32 | ||
| 2044 | 16.88 | 13.67 | -3.21 | ---- | 0.04 | 0.36 | 0.33 | ||
| 2045 | 16.91 | 13.68 | -3.22 | ---- | 0.04 | 0.37 | 0.33 | ||
| 2046 | 16.93 | 13.69 | -3.24 | ---- | 0.05 | 0.38 | 0.33 | ||
| 2047 | 16.96 | 13.71 | -3.25 | ---- | 0.05 | 0.40 | 0.34 | ||
| 2048 | 16.99 | 13.72 | -3.27 | ---- | 0.06 | 0.41 | 0.35 | ||
| 2049 | 17.02 | 13.73 | -3.29 | ---- | 0.07 | 0.42 | 0.35 | ||
| 2050 | 17.07 | 13.75 | -3.32 | ---- | 0.08 | 0.43 | 0.35 | ||
| 2051 | 17.11 | 13.76 | -3.35 | ---- | 0.09 | 0.44 | 0.35 | ||
| 2052 | 17.16 | 13.78 | -3.38 | ---- | 0.10 | 0.45 | 0.35 | ||
| 2053 | 17.21 | 13.79 | -3.42 | ---- | 0.10 | 0.46 | 0.35 | ||
| 2054 | 17.28 | 13.81 | -3.47 | ---- | 0.12 | 0.48 | 0.36 | ||
| 2055 | 17.36 | 13.82 | -3.54 | ---- | 0.13 | 0.48 | 0.35 | ||
| 2056 | 17.45 | 13.83 | -3.62 | ---- | 0.15 | 0.48 | 0.33 | ||
| 2057 | 17.54 | 13.84 | -3.70 | ---- | 0.16 | 0.48 | 0.32 | ||
| 2058 | 17.63 | 13.84 | -3.79 | ---- | 0.17 | 0.48 | 0.31 | ||
| 2059 | 17.73 | 13.85 | -3.88 | ---- | 0.19 | 0.48 | 0.29 | ||
| 2060 | 17.83 | 13.86 | -3.97 | ---- | 0.21 | 0.49 | 0.28 | ||
| 2061 | 17.92 | 13.87 | -4.05 | ---- | 0.23 | 0.49 | 0.26 | ||
| 2062 | 18.00 | 13.87 | -4.13 | ---- | 0.25 | 0.49 | 0.24 | ||
| 2063 | 18.09 | 13.88 | -4.21 | ---- | 0.26 | 0.49 | 0.23 | ||
| 2064 | 18.17 | 13.89 | -4.28 | ---- | 0.28 | 0.49 | 0.21 | ||
| 2065 | 18.25 | 13.89 | -4.36 | ---- | 0.30 | 0.49 | 0.19 | ||
| 2066 | 18.33 | 13.90 | -4.43 | ---- | 0.33 | 0.49 | 0.17 | ||
| 2067 | 18.41 | 13.90 | -4.50 | ---- | 0.35 | 0.49 | 0.15 | ||
| 2068 | 18.48 | 13.91 | -4.57 | ---- | 0.36 | 0.50 | 0.13 | ||
| 2069 | 18.56 | 13.92 | -4.64 | ---- | 0.39 | 0.50 | 0.11 | ||
| 2070 | 18.64 | 13.92 | -4.72 | ---- | 0.41 | 0.50 | 0.09 | ||
| 2071 | 18.71 | 13.93 | -4.78 | ---- | 0.43 | 0.50 | 0.07 | ||
| 2072 | 18.78 | 13.93 | -4.85 | ---- | 0.44 | 0.50 | 0.06 | ||
| 2073 | 18.84 | 13.94 | -4.91 | ---- | 0.46 | 0.50 | 0.04 | ||
| 2074 | 18.91 | 13.94 | -4.97 | ---- | 0.48 | 0.50 | 0.02 | ||
| 2075 | 18.96 | 13.95 | -5.02 | ---- | 0.50 | 0.50 | 0.01 | ||
| 2076 | 19.00 | 13.95 | -5.05 | ---- | 0.52 | 0.51 | -0.01 | ||
| 2077 | 19.03 | 13.95 | -5.08 | ---- | 0.53 | 0.51 | -0.02 | ||
| 2078 | 19.05 | 13.95 | -5.09 | ---- | 0.55 | 0.51 | -0.04 | ||
| 2079 | 19.05 | 13.96 | -5.10 | ---- | 0.56 | 0.51 | -0.05 | ||
| 2080 | 19.04 | 13.96 | -5.08 | ---- | 0.57 | 0.51 | -0.06 | ||
| 2081 | 19.02 | 13.95 | -5.06 | ---- | 0.58 | 0.51 | -0.07 | ||
| 2082 | 18.99 | 13.95 | -5.03 | ---- | 0.59 | 0.51 | -0.08 | ||
| 2083 | 18.95 | 13.95 | -5.00 | ---- | 0.60 | 0.51 | -0.09 | ||
| 2084 | 18.90 | 13.95 | -4.95 | ---- | 0.61 | 0.51 | -0.10 | ||
| 2085 | 18.85 | 13.95 | -4.90 | ---- | 0.62 | 0.51 | -0.11 | ||
| 2086 | 18.79 | 13.94 | -4.84 | ---- | 0.63 | 0.51 | -0.11 | ||
| 2087 | 18.72 | 13.94 | -4.78 | ---- | 0.63 | 0.51 | -0.12 | ||
| 2088 | 18.66 | 13.93 | -4.72 | ---- | 0.64 | 0.51 | -0.12 | ||
| 2089 | 18.60 | 13.93 | -4.67 | ---- | 0.64 | 0.51 | -0.13 | ||
| 2090 | 18.54 | 13.93 | -4.61 | ---- | 0.65 | 0.51 | -0.13 | ||
| 2091 | 18.49 | 13.92 | -4.57 | ---- | 0.65 | 0.51 | -0.14 | ||
| 2092 | 18.45 | 13.92 | -4.53 | ---- | 0.65 | 0.51 | -0.14 | ||
| 2093 | 18.43 | 13.92 | -4.51 | ---- | 0.66 | 0.51 | -0.14 | ||
| 2094 | 18.42 | 13.92 | -4.50 | ---- | 0.66 | 0.51 | -0.15 | ||
| 2095 | 18.41 | 13.92 | -4.49 | ---- | 0.67 | 0.51 | -0.15 | ||
| 2096 | 18.41 | 13.92 | -4.49 | ---- | 0.67 | 0.51 | -0.15 | ||
| 2097 | 18.42 | 13.92 | -4.50 | ---- | 0.67 | 0.51 | -0.16 | ||
| 2098 | 18.44 | 13.92 | -4.52 | ---- | 0.67 | 0.51 | -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 |
||
| 2023-2097 | 17.63% | 14.17% | -3.47% | 2034 | 0.25% | 0.39% | 0.14% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2023 Trustees Report.