Detailed Single Year Tables
Description of Proposed Provision:
B4.1: Increase the number of years used to calculate benefits for retirees and survivors (but not for disabled workers) from 35 to 38, phased in over the years 2024-2028.
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 | 15.04 | 12.97 | -2.07 | 168 | -0.00 | -0.00 | 0.00 | ||
| 2026 | 15.23 | 13.08 | -2.15 | 149 | -0.00 | -0.00 | 0.00 | ||
| 2027 | 15.37 | 13.09 | -2.28 | 131 | -0.01 | -0.00 | 0.01 | ||
| 2028 | 15.54 | 13.13 | -2.41 | 114 | -0.02 | -0.00 | 0.01 | ||
| 2029 | 15.69 | 13.16 | -2.53 | 96 | -0.02 | -0.00 | 0.02 | ||
| 2030 | 15.84 | 13.18 | -2.65 | 79 | -0.04 | -0.00 | 0.03 | ||
| 2031 | 15.95 | 13.21 | -2.74 | 61 | -0.05 | -0.00 | 0.05 | ||
| 2032 | 16.08 | 13.23 | -2.85 | 44 | -0.06 | -0.00 | 0.06 | ||
| 2033 | 16.19 | 13.24 | -2.94 | 26 | -0.08 | -0.00 | 0.08 | ||
| 2034 | 16.28 | 13.25 | -3.03 | 8 | -0.10 | -0.01 | 0.09 | ||
| 2035 | 16.36 | 13.26 | -3.10 | ---- | -0.12 | -0.01 | 0.11 | ||
| 2036 | 16.42 | 13.27 | -3.16 | ---- | -0.13 | -0.01 | 0.13 | ||
| 2037 | 16.48 | 13.27 | -3.21 | ---- | -0.15 | -0.01 | 0.14 | ||
| 2038 | 16.53 | 13.28 | -3.25 | ---- | -0.17 | -0.01 | 0.16 | ||
| 2039 | 16.56 | 13.28 | -3.28 | ---- | -0.18 | -0.01 | 0.17 | ||
| 2040 | 16.58 | 13.28 | -3.30 | ---- | -0.20 | -0.01 | 0.19 | ||
| 2041 | 16.59 | 13.29 | -3.31 | ---- | -0.21 | -0.01 | 0.20 | ||
| 2042 | 16.59 | 13.29 | -3.30 | ---- | -0.23 | -0.01 | 0.21 | ||
| 2043 | 16.59 | 13.29 | -3.30 | ---- | -0.24 | -0.01 | 0.23 | ||
| 2044 | 16.59 | 13.29 | -3.30 | ---- | -0.25 | -0.02 | 0.24 | ||
| 2045 | 16.60 | 13.29 | -3.31 | ---- | -0.27 | -0.02 | 0.25 | ||
| 2046 | 16.60 | 13.29 | -3.31 | ---- | -0.28 | -0.02 | 0.26 | ||
| 2047 | 16.61 | 13.29 | -3.32 | ---- | -0.29 | -0.02 | 0.27 | ||
| 2048 | 16.63 | 13.30 | -3.33 | ---- | -0.30 | -0.02 | 0.28 | ||
| 2049 | 16.64 | 13.30 | -3.34 | ---- | -0.31 | -0.02 | 0.29 | ||
| 2050 | 16.66 | 13.30 | -3.36 | ---- | -0.32 | -0.02 | 0.30 | ||
| 2051 | 16.69 | 13.30 | -3.38 | ---- | -0.33 | -0.02 | 0.31 | ||
| 2052 | 16.72 | 13.31 | -3.41 | ---- | -0.34 | -0.02 | 0.32 | ||
| 2053 | 16.76 | 13.31 | -3.45 | ---- | -0.35 | -0.02 | 0.33 | ||
| 2054 | 16.81 | 13.31 | -3.49 | ---- | -0.36 | -0.02 | 0.34 | ||
| 2055 | 16.86 | 13.32 | -3.54 | ---- | -0.37 | -0.02 | 0.34 | ||
| 2056 | 16.93 | 13.32 | -3.60 | ---- | -0.37 | -0.02 | 0.35 | ||
| 2057 | 17.00 | 13.33 | -3.67 | ---- | -0.38 | -0.02 | 0.36 | ||
| 2058 | 17.07 | 13.34 | -3.74 | ---- | -0.39 | -0.02 | 0.36 | ||
| 2059 | 17.15 | 13.34 | -3.81 | ---- | -0.39 | -0.02 | 0.37 | ||
| 2060 | 17.22 | 13.35 | -3.87 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2061 | 17.29 | 13.35 | -3.94 | ---- | -0.40 | -0.02 | 0.37 | ||
| 2062 | 17.36 | 13.36 | -4.00 | ---- | -0.40 | -0.02 | 0.38 | ||
| 2063 | 17.42 | 13.37 | -4.06 | ---- | -0.40 | -0.03 | 0.38 | ||
| 2064 | 17.48 | 13.37 | -4.11 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2065 | 17.54 | 13.38 | -4.16 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2066 | 17.59 | 13.38 | -4.21 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2067 | 17.65 | 13.38 | -4.26 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2068 | 17.70 | 13.39 | -4.31 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2069 | 17.76 | 13.39 | -4.37 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2070 | 17.82 | 13.40 | -4.42 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2071 | 17.87 | 13.40 | -4.47 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2072 | 17.92 | 13.41 | -4.51 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2073 | 17.96 | 13.41 | -4.55 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2074 | 18.01 | 13.41 | -4.59 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2075 | 18.04 | 13.42 | -4.63 | ---- | -0.42 | -0.03 | 0.40 | ||
| 2076 | 18.07 | 13.42 | -4.65 | ---- | -0.42 | -0.03 | 0.40 | ||
| 2077 | 18.08 | 13.42 | -4.66 | ---- | -0.42 | -0.03 | 0.40 | ||
| 2078 | 18.08 | 13.42 | -4.66 | ---- | -0.42 | -0.03 | 0.40 | ||
| 2079 | 18.07 | 13.42 | -4.65 | ---- | -0.42 | -0.03 | 0.40 | ||
| 2080 | 18.04 | 13.42 | -4.62 | ---- | -0.42 | -0.03 | 0.40 | ||
| 2081 | 18.01 | 13.42 | -4.59 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2082 | 17.97 | 13.42 | -4.56 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2083 | 17.93 | 13.41 | -4.51 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2084 | 17.87 | 13.41 | -4.46 | ---- | -0.42 | -0.03 | 0.39 | ||
| 2085 | 17.81 | 13.41 | -4.41 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2086 | 17.75 | 13.40 | -4.34 | ---- | -0.41 | -0.03 | 0.39 | ||
| 2087 | 17.68 | 13.40 | -4.28 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2088 | 17.61 | 13.40 | -4.22 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2089 | 17.55 | 13.39 | -4.16 | ---- | -0.41 | -0.03 | 0.38 | ||
| 2090 | 17.49 | 13.39 | -4.10 | ---- | -0.40 | -0.03 | 0.38 | ||
| 2091 | 17.44 | 13.38 | -4.05 | ---- | -0.40 | -0.03 | 0.38 | ||
| 2092 | 17.40 | 13.38 | -4.02 | ---- | -0.40 | -0.03 | 0.38 | ||
| 2093 | 17.37 | 13.38 | -3.99 | ---- | -0.40 | -0.03 | 0.38 | ||
| 2094 | 17.35 | 13.38 | -3.97 | ---- | -0.40 | -0.03 | 0.37 | ||
| 2095 | 17.34 | 13.38 | -3.97 | ---- | -0.40 | -0.03 | 0.37 | ||
| 2096 | 17.34 | 13.38 | -3.97 | ---- | -0.40 | -0.03 | 0.37 | ||
| 2097 | 17.35 | 13.38 | -3.97 | ---- | -0.40 | -0.03 | 0.37 | ||
| 2098 | 17.37 | 13.38 | -3.99 | ---- | -0.40 | -0.03 | 0.37 | ||
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 | 17.09% | 13.76% | -3.33% | 2034 | -0.29% | -0.02% | 0.27% | ||
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.