Detailed Single Year Tables
Description of Proposed Provision:
A2: Starting December 2024, reduce the annual COLA by 0.5 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 | 14.97 | 12.97 | -2.00 | 169 | -0.07 | -0.00 | 0.07 | ||
| 2026 | 15.09 | 13.07 | -2.01 | 151 | -0.15 | -0.01 | 0.14 | ||
| 2027 | 15.16 | 13.08 | -2.08 | 135 | -0.22 | -0.01 | 0.21 | ||
| 2028 | 15.26 | 13.12 | -2.15 | 118 | -0.29 | -0.01 | 0.28 | ||
| 2029 | 15.36 | 13.14 | -2.21 | 102 | -0.36 | -0.02 | 0.34 | ||
| 2030 | 15.44 | 13.16 | -2.28 | 87 | -0.43 | -0.02 | 0.41 | ||
| 2031 | 15.50 | 13.19 | -2.32 | 71 | -0.50 | -0.03 | 0.47 | ||
| 2032 | 15.58 | 13.21 | -2.37 | 56 | -0.57 | -0.03 | 0.53 | ||
| 2033 | 15.64 | 13.21 | -2.43 | 41 | -0.63 | -0.03 | 0.59 | ||
| 2034 | 15.70 | 13.22 | -2.48 | 26 | -0.69 | -0.04 | 0.65 | ||
| 2035 | 15.74 | 13.23 | -2.51 | 10 | -0.74 | -0.04 | 0.70 | ||
| 2036 | 15.76 | 13.23 | -2.53 | ---- | -0.79 | -0.04 | 0.75 | ||
| 2037 | 15.79 | 13.23 | -2.56 | ---- | -0.84 | -0.05 | 0.79 | ||
| 2038 | 15.81 | 13.24 | -2.57 | ---- | -0.89 | -0.05 | 0.84 | ||
| 2039 | 15.82 | 13.24 | -2.58 | ---- | -0.93 | -0.05 | 0.88 | ||
| 2040 | 15.82 | 13.24 | -2.57 | ---- | -0.97 | -0.06 | 0.91 | ||
| 2041 | 15.80 | 13.24 | -2.56 | ---- | -1.00 | -0.06 | 0.94 | ||
| 2042 | 15.79 | 13.24 | -2.54 | ---- | -1.03 | -0.06 | 0.97 | ||
| 2043 | 15.77 | 13.24 | -2.53 | ---- | -1.06 | -0.06 | 1.00 | ||
| 2044 | 15.76 | 13.24 | -2.52 | ---- | -1.08 | -0.06 | 1.02 | ||
| 2045 | 15.76 | 13.24 | -2.51 | ---- | -1.11 | -0.06 | 1.04 | ||
| 2046 | 15.75 | 13.24 | -2.51 | ---- | -1.13 | -0.07 | 1.06 | ||
| 2047 | 15.76 | 13.25 | -2.51 | ---- | -1.14 | -0.07 | 1.08 | ||
| 2048 | 15.77 | 13.25 | -2.52 | ---- | -1.16 | -0.07 | 1.09 | ||
| 2049 | 15.78 | 13.25 | -2.53 | ---- | -1.17 | -0.07 | 1.10 | ||
| 2050 | 15.80 | 13.25 | -2.55 | ---- | -1.18 | -0.07 | 1.11 | ||
| 2051 | 15.82 | 13.25 | -2.57 | ---- | -1.19 | -0.07 | 1.12 | ||
| 2052 | 15.86 | 13.26 | -2.60 | ---- | -1.20 | -0.07 | 1.13 | ||
| 2053 | 15.90 | 13.26 | -2.64 | ---- | -1.21 | -0.07 | 1.14 | ||
| 2054 | 15.95 | 13.27 | -2.68 | ---- | -1.22 | -0.07 | 1.15 | ||
| 2055 | 16.01 | 13.27 | -2.74 | ---- | -1.23 | -0.07 | 1.15 | ||
| 2056 | 16.07 | 13.28 | -2.79 | ---- | -1.23 | -0.07 | 1.16 | ||
| 2057 | 16.14 | 13.28 | -2.86 | ---- | -1.24 | -0.07 | 1.17 | ||
| 2058 | 16.21 | 13.29 | -2.92 | ---- | -1.25 | -0.07 | 1.17 | ||
| 2059 | 16.28 | 13.29 | -2.99 | ---- | -1.26 | -0.07 | 1.18 | ||
| 2060 | 16.35 | 13.30 | -3.06 | ---- | -1.26 | -0.07 | 1.19 | ||
| 2061 | 16.42 | 13.30 | -3.12 | ---- | -1.27 | -0.08 | 1.20 | ||
| 2062 | 16.48 | 13.31 | -3.17 | ---- | -1.28 | -0.08 | 1.20 | ||
| 2063 | 16.54 | 13.31 | -3.22 | ---- | -1.29 | -0.08 | 1.21 | ||
| 2064 | 16.59 | 13.32 | -3.27 | ---- | -1.30 | -0.08 | 1.22 | ||
| 2065 | 16.64 | 13.32 | -3.32 | ---- | -1.30 | -0.08 | 1.23 | ||
| 2066 | 16.69 | 13.33 | -3.36 | ---- | -1.31 | -0.08 | 1.24 | ||
| 2067 | 16.74 | 13.33 | -3.41 | ---- | -1.32 | -0.08 | 1.24 | ||
| 2068 | 16.79 | 13.33 | -3.45 | ---- | -1.33 | -0.08 | 1.25 | ||
| 2069 | 16.83 | 13.34 | -3.50 | ---- | -1.34 | -0.08 | 1.26 | ||
| 2070 | 16.88 | 13.34 | -3.54 | ---- | -1.35 | -0.08 | 1.27 | ||
| 2071 | 16.93 | 13.35 | -3.58 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2072 | 16.97 | 13.35 | -3.62 | ---- | -1.36 | -0.08 | 1.28 | ||
| 2073 | 17.01 | 13.35 | -3.66 | ---- | -1.37 | -0.08 | 1.29 | ||
| 2074 | 17.05 | 13.36 | -3.69 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2075 | 17.08 | 13.36 | -3.72 | ---- | -1.39 | -0.08 | 1.30 | ||
| 2076 | 17.10 | 13.36 | -3.74 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2077 | 17.10 | 13.36 | -3.74 | ---- | -1.40 | -0.08 | 1.31 | ||
| 2078 | 17.10 | 13.36 | -3.74 | ---- | -1.40 | -0.08 | 1.32 | ||
| 2079 | 17.08 | 13.36 | -3.72 | ---- | -1.41 | -0.08 | 1.32 | ||
| 2080 | 17.06 | 13.36 | -3.70 | ---- | -1.41 | -0.09 | 1.32 | ||
| 2081 | 17.02 | 13.36 | -3.66 | ---- | -1.41 | -0.09 | 1.33 | ||
| 2082 | 16.98 | 13.36 | -3.62 | ---- | -1.41 | -0.09 | 1.33 | ||
| 2083 | 16.93 | 13.36 | -3.58 | ---- | -1.41 | -0.09 | 1.33 | ||
| 2084 | 16.88 | 13.35 | -3.53 | ---- | -1.41 | -0.09 | 1.33 | ||
| 2085 | 16.82 | 13.35 | -3.47 | ---- | -1.41 | -0.09 | 1.33 | ||
| 2086 | 16.75 | 13.34 | -3.41 | ---- | -1.41 | -0.09 | 1.32 | ||
| 2087 | 16.68 | 13.34 | -3.34 | ---- | -1.41 | -0.09 | 1.32 | ||
| 2088 | 16.62 | 13.34 | -3.28 | ---- | -1.40 | -0.09 | 1.32 | ||
| 2089 | 16.55 | 13.33 | -3.22 | ---- | -1.40 | -0.08 | 1.32 | ||
| 2090 | 16.50 | 13.33 | -3.17 | ---- | -1.40 | -0.08 | 1.31 | ||
| 2091 | 16.45 | 13.33 | -3.12 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2092 | 16.41 | 13.32 | -3.09 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2093 | 16.38 | 13.32 | -3.06 | ---- | -1.39 | -0.08 | 1.31 | ||
| 2094 | 16.37 | 13.32 | -3.05 | ---- | -1.39 | -0.08 | 1.30 | ||
| 2095 | 16.36 | 13.32 | -3.04 | ---- | -1.39 | -0.08 | 1.30 | ||
| 2096 | 16.36 | 13.32 | -3.04 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2097 | 16.37 | 13.32 | -3.05 | ---- | -1.38 | -0.08 | 1.30 | ||
| 2098 | 16.39 | 13.32 | -3.07 | ---- | -1.38 | -0.08 | 1.30 | ||
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 | 16.30% | 13.71% | -2.59% | 2035 | -1.08% | -0.06% | 1.02% | ||
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.