Detailed Single Year Tables
Description of Proposed Provision:
A1: Starting December 2024, reduce the annual COLA by 1 percentage point.
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 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.90 | 12.97 | -1.93 | 169 | -0.14 | -0.01 | 0.14 | ||
| 2026 | 14.94 | 13.07 | -1.88 | 153 | -0.29 | -0.01 | 0.28 | ||
| 2027 | 14.95 | 13.07 | -1.87 | 138 | -0.43 | -0.02 | 0.41 | ||
| 2028 | 14.98 | 13.10 | -1.88 | 123 | -0.58 | -0.03 | 0.55 | ||
| 2029 | 15.00 | 13.13 | -1.88 | 109 | -0.72 | -0.04 | 0.68 | ||
| 2030 | 15.02 | 13.14 | -1.88 | 96 | -0.85 | -0.04 | 0.81 | ||
| 2031 | 15.02 | 13.16 | -1.86 | 83 | -0.99 | -0.05 | 0.93 | ||
| 2032 | 15.03 | 13.18 | -1.86 | 70 | -1.11 | -0.06 | 1.05 | ||
| 2033 | 15.04 | 13.18 | -1.86 | 58 | -1.23 | -0.07 | 1.16 | ||
| 2034 | 15.04 | 13.18 | -1.85 | 46 | -1.34 | -0.07 | 1.27 | ||
| 2035 | 15.03 | 13.19 | -1.84 | 34 | -1.45 | -0.08 | 1.37 | ||
| 2036 | 15.01 | 13.19 | -1.82 | 22 | -1.55 | -0.09 | 1.46 | ||
| 2037 | 15.00 | 13.19 | -1.81 | 10 | -1.64 | -0.09 | 1.55 | ||
| 2038 | 14.97 | 13.19 | -1.78 | ---- | -1.72 | -0.10 | 1.63 | ||
| 2039 | 14.94 | 13.19 | -1.75 | ---- | -1.80 | -0.10 | 1.70 | ||
| 2040 | 14.91 | 13.19 | -1.72 | ---- | -1.87 | -0.11 | 1.77 | ||
| 2041 | 14.87 | 13.19 | -1.68 | ---- | -1.94 | -0.11 | 1.83 | ||
| 2042 | 14.82 | 13.19 | -1.64 | ---- | -1.99 | -0.11 | 1.88 | ||
| 2043 | 14.78 | 13.19 | -1.60 | ---- | -2.05 | -0.12 | 1.93 | ||
| 2044 | 14.75 | 13.19 | -1.57 | ---- | -2.09 | -0.12 | 1.97 | ||
| 2045 | 14.73 | 13.18 | -1.55 | ---- | -2.13 | -0.12 | 2.01 | ||
| 2046 | 14.71 | 13.18 | -1.53 | ---- | -2.17 | -0.13 | 2.04 | ||
| 2047 | 14.71 | 13.19 | -1.52 | ---- | -2.20 | -0.13 | 2.07 | ||
| 2048 | 14.70 | 13.19 | -1.52 | ---- | -2.22 | -0.13 | 2.10 | ||
| 2049 | 14.71 | 13.19 | -1.52 | ---- | -2.25 | -0.13 | 2.12 | ||
| 2050 | 14.72 | 13.19 | -1.53 | ---- | -2.27 | -0.13 | 2.14 | ||
| 2051 | 14.73 | 13.19 | -1.54 | ---- | -2.29 | -0.13 | 2.15 | ||
| 2052 | 14.76 | 13.19 | -1.56 | ---- | -2.30 | -0.13 | 2.17 | ||
| 2053 | 14.79 | 13.20 | -1.59 | ---- | -2.32 | -0.14 | 2.18 | ||
| 2054 | 14.83 | 13.20 | -1.63 | ---- | -2.33 | -0.14 | 2.20 | ||
| 2055 | 14.89 | 13.20 | -1.68 | ---- | -2.35 | -0.14 | 2.21 | ||
| 2056 | 14.94 | 13.21 | -1.74 | ---- | -2.36 | -0.14 | 2.22 | ||
| 2057 | 15.01 | 13.21 | -1.79 | ---- | -2.37 | -0.14 | 2.23 | ||
| 2058 | 15.07 | 13.22 | -1.85 | ---- | -2.39 | -0.14 | 2.24 | ||
| 2059 | 15.14 | 13.23 | -1.91 | ---- | -2.40 | -0.14 | 2.26 | ||
| 2060 | 15.20 | 13.23 | -1.97 | ---- | -2.41 | -0.14 | 2.27 | ||
| 2061 | 15.26 | 13.24 | -2.03 | ---- | -2.43 | -0.14 | 2.29 | ||
| 2062 | 15.31 | 13.24 | -2.07 | ---- | -2.44 | -0.14 | 2.30 | ||
| 2063 | 15.36 | 13.24 | -2.12 | ---- | -2.46 | -0.15 | 2.31 | ||
| 2064 | 15.41 | 13.25 | -2.16 | ---- | -2.48 | -0.15 | 2.33 | ||
| 2065 | 15.45 | 13.25 | -2.20 | ---- | -2.49 | -0.15 | 2.34 | ||
| 2066 | 15.50 | 13.26 | -2.24 | ---- | -2.51 | -0.15 | 2.36 | ||
| 2067 | 15.54 | 13.26 | -2.28 | ---- | -2.52 | -0.15 | 2.37 | ||
| 2068 | 15.58 | 13.26 | -2.31 | ---- | -2.54 | -0.15 | 2.39 | ||
| 2069 | 15.62 | 13.27 | -2.35 | ---- | -2.56 | -0.15 | 2.40 | ||
| 2070 | 15.66 | 13.27 | -2.39 | ---- | -2.57 | -0.15 | 2.42 | ||
| 2071 | 15.70 | 13.27 | -2.42 | ---- | -2.59 | -0.15 | 2.43 | ||
| 2072 | 15.73 | 13.28 | -2.45 | ---- | -2.60 | -0.16 | 2.45 | ||
| 2073 | 15.77 | 13.28 | -2.49 | ---- | -2.62 | -0.16 | 2.46 | ||
| 2074 | 15.80 | 13.28 | -2.51 | ---- | -2.63 | -0.16 | 2.47 | ||
| 2075 | 15.82 | 13.28 | -2.54 | ---- | -2.64 | -0.16 | 2.49 | ||
| 2076 | 15.83 | 13.29 | -2.55 | ---- | -2.66 | -0.16 | 2.50 | ||
| 2077 | 15.84 | 13.29 | -2.55 | ---- | -2.67 | -0.16 | 2.50 | ||
| 2078 | 15.83 | 13.29 | -2.54 | ---- | -2.67 | -0.16 | 2.51 | ||
| 2079 | 15.81 | 13.29 | -2.52 | ---- | -2.68 | -0.16 | 2.52 | ||
| 2080 | 15.78 | 13.28 | -2.50 | ---- | -2.68 | -0.16 | 2.52 | ||
| 2081 | 15.75 | 13.28 | -2.46 | ---- | -2.69 | -0.16 | 2.53 | ||
| 2082 | 15.70 | 13.28 | -2.42 | ---- | -2.69 | -0.16 | 2.53 | ||
| 2083 | 15.66 | 13.28 | -2.38 | ---- | -2.69 | -0.16 | 2.53 | ||
| 2084 | 15.60 | 13.27 | -2.33 | ---- | -2.69 | -0.16 | 2.53 | ||
| 2085 | 15.54 | 13.27 | -2.27 | ---- | -2.69 | -0.16 | 2.52 | ||
| 2086 | 15.48 | 13.27 | -2.21 | ---- | -2.68 | -0.16 | 2.52 | ||
| 2087 | 15.41 | 13.26 | -2.15 | ---- | -2.68 | -0.16 | 2.52 | ||
| 2088 | 15.35 | 13.26 | -2.09 | ---- | -2.67 | -0.16 | 2.51 | ||
| 2089 | 15.29 | 13.26 | -2.03 | ---- | -2.67 | -0.16 | 2.51 | ||
| 2090 | 15.23 | 13.25 | -1.98 | ---- | -2.66 | -0.16 | 2.50 | ||
| 2091 | 15.19 | 13.25 | -1.94 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2092 | 15.15 | 13.25 | -1.91 | ---- | -2.65 | -0.16 | 2.49 | ||
| 2093 | 15.13 | 13.25 | -1.88 | ---- | -2.64 | -0.16 | 2.48 | ||
| 2094 | 15.11 | 13.24 | -1.87 | ---- | -2.64 | -0.16 | 2.48 | ||
| 2095 | 15.11 | 13.24 | -1.86 | ---- | -2.64 | -0.16 | 2.48 | ||
| 2096 | 15.11 | 13.24 | -1.87 | ---- | -2.63 | -0.16 | 2.47 | ||
| 2097 | 15.12 | 13.25 | -1.88 | ---- | -2.63 | -0.16 | 2.47 | ||
| 2098 | 15.14 | 13.25 | -1.89 | ---- | -2.63 | -0.16 | 2.47 | ||
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 | 15.31% | 13.66% | -1.66% | 2037 | -2.07% | -0.12% | 1.95% | ||
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.