Detailed Single Year Tables
Description of Proposed Provision:
A5: Starting December 2024, add 1 percentage point to the annual COLA for beneficiaries who have lived past a "specified age". The "specified age" is the sum of: (1) 65 and (2) the unisex cohort life expectancy at age 65.
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 | 15.06 | 12.97 | -2.08 | 168 | 0.01 | 0.00 | -0.01 | ||
| 2026 | 15.26 | 13.08 | -2.18 | 149 | 0.03 | 0.00 | -0.03 | ||
| 2027 | 15.42 | 13.10 | -2.33 | 131 | 0.04 | 0.00 | -0.04 | ||
| 2028 | 15.61 | 13.13 | -2.47 | 113 | 0.05 | 0.00 | -0.05 | ||
| 2029 | 15.78 | 13.16 | -2.62 | 95 | 0.06 | 0.00 | -0.06 | ||
| 2030 | 15.95 | 13.19 | -2.76 | 77 | 0.08 | 0.00 | -0.07 | ||
| 2031 | 16.09 | 13.22 | -2.87 | 59 | 0.09 | 0.00 | -0.08 | ||
| 2032 | 16.24 | 13.24 | -3.00 | 40 | 0.10 | 0.01 | -0.09 | ||
| 2033 | 16.37 | 13.25 | -3.12 | 22 | 0.10 | 0.01 | -0.10 | ||
| 2034 | 16.50 | 13.27 | -3.23 | 4 | 0.11 | 0.01 | -0.11 | ||
| 2035 | 16.60 | 13.27 | -3.32 | ---- | 0.12 | 0.01 | -0.11 | ||
| 2036 | 16.68 | 13.28 | -3.40 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2037 | 16.77 | 13.29 | -3.48 | ---- | 0.13 | 0.01 | -0.12 | ||
| 2038 | 16.83 | 13.30 | -3.53 | ---- | 0.13 | 0.01 | -0.13 | ||
| 2039 | 16.88 | 13.30 | -3.58 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2040 | 16.92 | 13.30 | -3.62 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2041 | 16.95 | 13.31 | -3.64 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2042 | 16.96 | 13.31 | -3.65 | ---- | 0.14 | 0.01 | -0.14 | ||
| 2043 | 16.98 | 13.31 | -3.67 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2044 | 17.00 | 13.31 | -3.68 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2045 | 17.02 | 13.32 | -3.70 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2046 | 17.04 | 13.32 | -3.72 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2047 | 17.06 | 13.32 | -3.74 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2048 | 17.09 | 13.32 | -3.76 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2049 | 17.12 | 13.33 | -3.79 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2050 | 17.15 | 13.33 | -3.82 | ---- | 0.17 | 0.01 | -0.16 | ||
| 2051 | 17.19 | 13.33 | -3.85 | ---- | 0.17 | 0.01 | -0.16 | ||
| 2052 | 17.22 | 13.34 | -3.89 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2053 | 17.27 | 13.34 | -3.93 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2054 | 17.32 | 13.35 | -3.98 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2055 | 17.39 | 13.35 | -4.04 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2056 | 17.46 | 13.36 | -4.10 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2057 | 17.53 | 13.36 | -4.17 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2058 | 17.61 | 13.37 | -4.24 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2059 | 17.69 | 13.38 | -4.31 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2060 | 17.76 | 13.38 | -4.38 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2061 | 17.84 | 13.39 | -4.45 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2062 | 17.90 | 13.39 | -4.51 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2063 | 17.97 | 13.40 | -4.57 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2064 | 18.03 | 13.40 | -4.62 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2065 | 18.09 | 13.41 | -4.68 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2066 | 18.15 | 13.41 | -4.73 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2067 | 18.20 | 13.42 | -4.79 | ---- | 0.14 | 0.01 | -0.14 | ||
| 2068 | 18.26 | 13.42 | -4.84 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2069 | 18.32 | 13.43 | -4.89 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2070 | 18.38 | 13.43 | -4.94 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2071 | 18.43 | 13.44 | -4.99 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2072 | 18.48 | 13.44 | -5.04 | ---- | 0.14 | 0.01 | -0.14 | ||
| 2073 | 18.53 | 13.44 | -5.08 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2074 | 18.57 | 13.45 | -5.12 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2075 | 18.61 | 13.45 | -5.16 | ---- | 0.14 | 0.01 | -0.13 | ||
| 2076 | 18.63 | 13.45 | -5.18 | ---- | 0.14 | 0.01 | -0.14 | ||
| 2077 | 18.65 | 13.46 | -5.19 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2078 | 18.65 | 13.46 | -5.19 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2079 | 18.64 | 13.46 | -5.18 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2080 | 18.62 | 13.46 | -5.16 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2081 | 18.59 | 13.45 | -5.13 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2082 | 18.55 | 13.45 | -5.09 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2083 | 18.50 | 13.45 | -5.05 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2084 | 18.44 | 13.45 | -5.00 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2085 | 18.38 | 13.44 | -4.94 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2086 | 18.32 | 13.44 | -4.88 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2087 | 18.25 | 13.44 | -4.81 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2088 | 18.18 | 13.43 | -4.75 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2089 | 18.11 | 13.43 | -4.69 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2090 | 18.05 | 13.42 | -4.63 | ---- | 0.16 | 0.01 | -0.15 | ||
| 2091 | 18.00 | 13.42 | -4.58 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2092 | 17.95 | 13.42 | -4.54 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2093 | 17.92 | 13.41 | -4.51 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2094 | 17.90 | 13.41 | -4.49 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2095 | 17.89 | 13.41 | -4.48 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2096 | 17.89 | 13.41 | -4.48 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2097 | 17.90 | 13.41 | -4.48 | ---- | 0.15 | 0.01 | -0.14 | ||
| 2098 | 17.92 | 13.42 | -4.50 | ---- | 0.14 | 0.01 | -0.14 | ||
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% | 2034 | 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.