Detailed Single Year Tables
Description of Proposed Provision:
A3: Starting December 2024, compute the COLA using a chained version of the consumer price index for wage and salary workers (CPI-W). We estimate this new computation will reduce the annual COLA by about 0.3 percentage point, on average.
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 | 15.00 | 12.97 | -2.03 | 168 | -0.04 | -0.00 | 0.04 | ||
2026 | 15.15 | 13.08 | -2.07 | 150 | -0.09 | -0.00 | 0.08 | ||
2027 | 15.25 | 13.09 | -2.16 | 133 | -0.13 | -0.01 | 0.12 | ||
2028 | 15.38 | 13.12 | -2.26 | 116 | -0.17 | -0.01 | 0.17 | ||
2029 | 15.50 | 13.15 | -2.35 | 100 | -0.22 | -0.01 | 0.21 | ||
2030 | 15.61 | 13.17 | -2.44 | 83 | -0.26 | -0.01 | 0.25 | ||
2031 | 15.70 | 13.20 | -2.51 | 67 | -0.30 | -0.02 | 0.29 | ||
2032 | 15.80 | 13.22 | -2.59 | 51 | -0.34 | -0.02 | 0.32 | ||
2033 | 15.89 | 13.23 | -2.66 | 34 | -0.38 | -0.02 | 0.36 | ||
2034 | 15.97 | 13.24 | -2.73 | 18 | -0.41 | -0.02 | 0.39 | ||
2035 | 16.03 | 13.24 | -2.79 | 1 | -0.45 | -0.03 | 0.42 | ||
2036 | 16.08 | 13.25 | -2.83 | ---- | -0.48 | -0.03 | 0.45 | ||
2037 | 16.13 | 13.25 | -2.87 | ---- | -0.51 | -0.03 | 0.48 | ||
2038 | 16.16 | 13.26 | -2.90 | ---- | -0.54 | -0.03 | 0.51 | ||
2039 | 16.18 | 13.26 | -2.92 | ---- | -0.56 | -0.03 | 0.53 | ||
2040 | 16.19 | 13.26 | -2.93 | ---- | -0.59 | -0.03 | 0.55 | ||
2041 | 16.20 | 13.26 | -2.93 | ---- | -0.61 | -0.03 | 0.57 | ||
2042 | 16.19 | 13.27 | -2.92 | ---- | -0.63 | -0.04 | 0.59 | ||
2043 | 16.19 | 13.27 | -2.92 | ---- | -0.64 | -0.04 | 0.61 | ||
2044 | 16.19 | 13.27 | -2.92 | ---- | -0.66 | -0.04 | 0.62 | ||
2045 | 16.19 | 13.27 | -2.92 | ---- | -0.67 | -0.04 | 0.64 | ||
2046 | 16.19 | 13.27 | -2.92 | ---- | -0.69 | -0.04 | 0.65 | ||
2047 | 16.21 | 13.27 | -2.93 | ---- | -0.70 | -0.04 | 0.66 | ||
2048 | 16.22 | 13.27 | -2.95 | ---- | -0.71 | -0.04 | 0.67 | ||
2049 | 16.24 | 13.28 | -2.96 | ---- | -0.72 | -0.04 | 0.67 | ||
2050 | 16.26 | 13.28 | -2.99 | ---- | -0.72 | -0.04 | 0.68 | ||
2051 | 16.29 | 13.28 | -3.01 | ---- | -0.73 | -0.04 | 0.69 | ||
2052 | 16.33 | 13.28 | -3.04 | ---- | -0.73 | -0.04 | 0.69 | ||
2053 | 16.37 | 13.29 | -3.08 | ---- | -0.74 | -0.04 | 0.70 | ||
2054 | 16.42 | 13.29 | -3.13 | ---- | -0.74 | -0.04 | 0.70 | ||
2055 | 16.48 | 13.30 | -3.18 | ---- | -0.75 | -0.04 | 0.70 | ||
2056 | 16.55 | 13.30 | -3.25 | ---- | -0.75 | -0.04 | 0.71 | ||
2057 | 16.62 | 13.31 | -3.31 | ---- | -0.76 | -0.04 | 0.71 | ||
2058 | 16.70 | 13.32 | -3.38 | ---- | -0.76 | -0.04 | 0.72 | ||
2059 | 16.77 | 13.32 | -3.45 | ---- | -0.77 | -0.05 | 0.72 | ||
2060 | 16.85 | 13.33 | -3.52 | ---- | -0.77 | -0.05 | 0.73 | ||
2061 | 16.91 | 13.33 | -3.58 | ---- | -0.78 | -0.05 | 0.73 | ||
2062 | 16.98 | 13.34 | -3.64 | ---- | -0.78 | -0.05 | 0.74 | ||
2063 | 17.04 | 13.34 | -3.69 | ---- | -0.79 | -0.05 | 0.74 | ||
2064 | 17.09 | 13.35 | -3.74 | ---- | -0.79 | -0.05 | 0.75 | ||
2065 | 17.15 | 13.35 | -3.79 | ---- | -0.80 | -0.05 | 0.75 | ||
2066 | 17.20 | 13.36 | -3.84 | ---- | -0.80 | -0.05 | 0.76 | ||
2067 | 17.25 | 13.36 | -3.89 | ---- | -0.81 | -0.05 | 0.76 | ||
2068 | 17.30 | 13.37 | -3.94 | ---- | -0.81 | -0.05 | 0.76 | ||
2069 | 17.35 | 13.37 | -3.99 | ---- | -0.82 | -0.05 | 0.77 | ||
2070 | 17.41 | 13.37 | -4.03 | ---- | -0.82 | -0.05 | 0.77 | ||
2071 | 17.45 | 13.38 | -4.08 | ---- | -0.83 | -0.05 | 0.78 | ||
2072 | 17.50 | 13.38 | -4.12 | ---- | -0.83 | -0.05 | 0.78 | ||
2073 | 17.54 | 13.39 | -4.16 | ---- | -0.84 | -0.05 | 0.79 | ||
2074 | 17.58 | 13.39 | -4.20 | ---- | -0.84 | -0.05 | 0.79 | ||
2075 | 17.62 | 13.39 | -4.22 | ---- | -0.85 | -0.05 | 0.80 | ||
2076 | 17.64 | 13.39 | -4.24 | ---- | -0.85 | -0.05 | 0.80 | ||
2077 | 17.65 | 13.40 | -4.25 | ---- | -0.86 | -0.05 | 0.80 | ||
2078 | 17.65 | 13.40 | -4.25 | ---- | -0.86 | -0.05 | 0.81 | ||
2079 | 17.63 | 13.40 | -4.23 | ---- | -0.86 | -0.05 | 0.81 | ||
2080 | 17.60 | 13.39 | -4.21 | ---- | -0.86 | -0.05 | 0.81 | ||
2081 | 17.57 | 13.39 | -4.18 | ---- | -0.86 | -0.05 | 0.81 | ||
2082 | 17.53 | 13.39 | -4.14 | ---- | -0.86 | -0.05 | 0.81 | ||
2083 | 17.48 | 13.39 | -4.09 | ---- | -0.86 | -0.05 | 0.81 | ||
2084 | 17.42 | 13.39 | -4.04 | ---- | -0.86 | -0.05 | 0.81 | ||
2085 | 17.36 | 13.38 | -3.98 | ---- | -0.86 | -0.05 | 0.81 | ||
2086 | 17.30 | 13.38 | -3.92 | ---- | -0.86 | -0.05 | 0.81 | ||
2087 | 17.23 | 13.37 | -3.86 | ---- | -0.86 | -0.05 | 0.81 | ||
2088 | 17.16 | 13.37 | -3.79 | ---- | -0.86 | -0.05 | 0.81 | ||
2089 | 17.10 | 13.36 | -3.73 | ---- | -0.86 | -0.05 | 0.81 | ||
2090 | 17.04 | 13.36 | -3.68 | ---- | -0.86 | -0.05 | 0.80 | ||
2091 | 16.99 | 13.36 | -3.63 | ---- | -0.85 | -0.05 | 0.80 | ||
2092 | 16.95 | 13.36 | -3.59 | ---- | -0.85 | -0.05 | 0.80 | ||
2093 | 16.92 | 13.35 | -3.57 | ---- | -0.85 | -0.05 | 0.80 | ||
2094 | 16.90 | 13.35 | -3.55 | ---- | -0.85 | -0.05 | 0.80 | ||
2095 | 16.90 | 13.35 | -3.54 | ---- | -0.85 | -0.05 | 0.80 | ||
2096 | 16.90 | 13.35 | -3.54 | ---- | -0.85 | -0.05 | 0.80 | ||
2097 | 16.91 | 13.35 | -3.55 | ---- | -0.85 | -0.05 | 0.80 | ||
2098 | 16.92 | 13.35 | -3.57 | ---- | -0.85 | -0.05 | 0.80 |
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 | 16.72% | 13.74% | -2.99% | 2035 | -0.66% | -0.04% | 0.62% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
Based on Intermediate Assumptions of the 2023 Trustees Report.