Detailed Single Year Tables
Description of Proposed Provision:
B7.14: Eliminate completely the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), effective 2024.
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 | 15.02 | 12.89 | -2.13 | 185 | 0.16 | 0.01 | -0.15 | ||
| 2025 | 15.20 | 12.98 | -2.22 | 165 | 0.15 | 0.01 | -0.15 | ||
| 2026 | 15.39 | 13.09 | -2.30 | 146 | 0.15 | 0.01 | -0.14 | ||
| 2027 | 15.53 | 13.10 | -2.43 | 127 | 0.15 | 0.01 | -0.14 | ||
| 2028 | 15.70 | 13.14 | -2.56 | 109 | 0.15 | 0.01 | -0.14 | ||
| 2029 | 15.86 | 13.17 | -2.69 | 91 | 0.14 | 0.01 | -0.14 | ||
| 2030 | 16.01 | 13.19 | -2.82 | 73 | 0.14 | 0.01 | -0.13 | ||
| 2031 | 16.14 | 13.22 | -2.92 | 54 | 0.14 | 0.01 | -0.13 | ||
| 2032 | 16.28 | 13.24 | -3.04 | 36 | 0.14 | 0.01 | -0.13 | ||
| 2033 | 16.40 | 13.26 | -3.15 | 18 | 0.14 | 0.01 | -0.13 | ||
| 2034 | 16.52 | 13.27 | -3.25 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2035 | 16.61 | 13.27 | -3.34 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2036 | 16.69 | 13.28 | -3.41 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2037 | 16.77 | 13.29 | -3.48 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2038 | 16.83 | 13.30 | -3.53 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2039 | 16.88 | 13.30 | -3.58 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2040 | 16.91 | 13.30 | -3.61 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2041 | 16.94 | 13.31 | -3.63 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2042 | 16.95 | 13.31 | -3.64 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2043 | 16.96 | 13.31 | -3.65 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2044 | 16.97 | 13.31 | -3.66 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2045 | 16.99 | 13.31 | -3.68 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2046 | 17.01 | 13.32 | -3.69 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2047 | 17.03 | 13.32 | -3.71 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2048 | 17.05 | 13.32 | -3.73 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2049 | 17.08 | 13.33 | -3.76 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2050 | 17.11 | 13.33 | -3.79 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2051 | 17.14 | 13.33 | -3.81 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2052 | 17.19 | 13.33 | -3.85 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2053 | 17.23 | 13.34 | -3.90 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2054 | 17.29 | 13.34 | -3.95 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2055 | 17.36 | 13.35 | -4.01 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2056 | 17.43 | 13.36 | -4.07 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2057 | 17.51 | 13.36 | -4.14 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2058 | 17.59 | 13.37 | -4.22 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2059 | 17.67 | 13.37 | -4.29 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2060 | 17.75 | 13.38 | -4.37 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2061 | 17.82 | 13.39 | -4.43 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2062 | 17.89 | 13.39 | -4.50 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2063 | 17.95 | 13.40 | -4.56 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2064 | 18.02 | 13.40 | -4.61 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2065 | 18.08 | 13.41 | -4.67 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2066 | 18.14 | 13.41 | -4.72 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2067 | 18.19 | 13.42 | -4.77 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2068 | 18.25 | 13.42 | -4.83 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2069 | 18.31 | 13.43 | -4.88 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2070 | 18.36 | 13.43 | -4.93 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2071 | 18.42 | 13.44 | -4.98 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2072 | 18.47 | 13.44 | -5.03 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2073 | 18.52 | 13.44 | -5.07 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2074 | 18.56 | 13.45 | -5.11 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2075 | 18.60 | 13.45 | -5.15 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2076 | 18.62 | 13.45 | -5.17 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2077 | 18.64 | 13.46 | -5.18 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2078 | 18.64 | 13.46 | -5.18 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2079 | 18.63 | 13.46 | -5.17 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2080 | 18.60 | 13.45 | -5.15 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2081 | 18.57 | 13.45 | -5.12 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2082 | 18.53 | 13.45 | -5.08 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2083 | 18.48 | 13.45 | -5.03 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2084 | 18.42 | 13.45 | -4.98 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2085 | 18.36 | 13.44 | -4.92 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2086 | 18.29 | 13.44 | -4.86 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2087 | 18.22 | 13.43 | -4.79 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2088 | 18.15 | 13.43 | -4.72 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2089 | 18.08 | 13.42 | -4.66 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2090 | 18.02 | 13.42 | -4.60 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2091 | 17.97 | 13.42 | -4.55 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2092 | 17.93 | 13.41 | -4.52 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2093 | 17.90 | 13.41 | -4.49 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2094 | 17.88 | 13.41 | -4.47 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2095 | 17.87 | 13.41 | -4.46 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2096 | 17.87 | 13.41 | -4.46 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2097 | 17.88 | 13.41 | -4.47 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2098 | 17.90 | 13.41 | -4.49 | ---- | 0.13 | 0.01 | -0.12 | ||
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 | 17.52% | 13.78% | -3.73% | 2033 | 0.13% | 0.01% | -0.13% | ||
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.