Detailed Single Year Tables
Description of Proposed Provision:
B7.12: Provide an option to split the 8-percent delayed retirement credit (DRC) to offer a lump sum benefit at initial entitlement equal to 2 percent of the 8 percent DRC earned, and a 6 percent DRC on subsequent monthly benefits, effective for workers newly entitled to retired worker benefits in 2026 and later. Widows are held harmless from the lump-sum decision.
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 | 15.30 | 13.08 | -2.22 | 149 | 0.07 | 0.00 | -0.07 | ||
2027 | 15.44 | 13.10 | -2.34 | 130 | 0.06 | 0.00 | -0.06 | ||
2028 | 15.61 | 13.13 | -2.47 | 112 | 0.05 | 0.00 | -0.05 | ||
2029 | 15.77 | 13.16 | -2.60 | 95 | 0.05 | 0.00 | -0.04 | ||
2030 | 15.91 | 13.19 | -2.72 | 77 | 0.04 | 0.00 | -0.04 | ||
2031 | 16.04 | 13.21 | -2.82 | 59 | 0.03 | 0.00 | -0.03 | ||
2032 | 16.18 | 13.24 | -2.94 | 41 | 0.03 | 0.00 | -0.03 | ||
2033 | 16.30 | 13.25 | -3.05 | 23 | 0.03 | 0.00 | -0.03 | ||
2034 | 16.41 | 13.26 | -3.15 | 5 | 0.02 | 0.00 | -0.02 | ||
2035 | 16.50 | 13.27 | -3.23 | ---- | 0.02 | 0.00 | -0.02 | ||
2036 | 16.57 | 13.28 | -3.29 | ---- | 0.01 | 0.00 | -0.01 | ||
2037 | 16.65 | 13.28 | -3.36 | ---- | 0.01 | 0.00 | -0.01 | ||
2038 | 16.71 | 13.29 | -3.42 | ---- | 0.01 | 0.00 | -0.01 | ||
2039 | 16.76 | 13.29 | -3.46 | ---- | 0.01 | 0.00 | -0.01 | ||
2040 | 16.79 | 13.30 | -3.49 | ---- | 0.01 | 0.00 | -0.01 | ||
2041 | 16.81 | 13.30 | -3.51 | ---- | 0.00 | 0.00 | -0.00 | ||
2042 | 16.82 | 13.30 | -3.51 | ---- | -0.00 | -0.00 | 0.00 | ||
2043 | 16.83 | 13.30 | -3.52 | ---- | -0.00 | -0.00 | 0.00 | ||
2044 | 16.84 | 13.31 | -3.54 | ---- | -0.00 | -0.00 | 0.00 | ||
2045 | 16.86 | 13.31 | -3.55 | ---- | -0.01 | -0.00 | 0.00 | ||
2046 | 16.88 | 13.31 | -3.57 | ---- | -0.00 | -0.00 | 0.00 | ||
2047 | 16.90 | 13.31 | -3.59 | ---- | -0.00 | -0.00 | 0.00 | ||
2048 | 16.92 | 13.31 | -3.61 | ---- | -0.00 | -0.00 | 0.00 | ||
2049 | 16.95 | 13.32 | -3.64 | ---- | -0.00 | -0.00 | 0.00 | ||
2050 | 16.99 | 13.32 | -3.67 | ---- | -0.00 | -0.00 | 0.00 | ||
2051 | 17.02 | 13.32 | -3.69 | ---- | -0.00 | -0.00 | 0.00 | ||
2052 | 17.06 | 13.33 | -3.73 | ---- | -0.00 | -0.00 | 0.00 | ||
2053 | 17.11 | 13.33 | -3.77 | ---- | -0.00 | -0.00 | 0.00 | ||
2054 | 17.16 | 13.34 | -3.83 | ---- | -0.00 | -0.00 | 0.00 | ||
2055 | 17.23 | 13.34 | -3.89 | ---- | -0.00 | -0.00 | 0.00 | ||
2056 | 17.30 | 13.35 | -3.95 | ---- | -0.00 | -0.00 | 0.00 | ||
2057 | 17.38 | 13.35 | -4.02 | ---- | 0.00 | 0.00 | -0.00 | ||
2058 | 17.46 | 13.36 | -4.10 | ---- | 0.00 | 0.00 | -0.00 | ||
2059 | 17.54 | 13.37 | -4.17 | ---- | 0.00 | 0.00 | -0.00 | ||
2060 | 17.62 | 13.37 | -4.25 | ---- | 0.00 | 0.00 | -0.00 | ||
2061 | 17.69 | 13.38 | -4.31 | ---- | 0.00 | 0.00 | -0.00 | ||
2062 | 17.76 | 13.39 | -4.38 | ---- | 0.00 | 0.00 | -0.00 | ||
2063 | 17.82 | 13.39 | -4.43 | ---- | -0.00 | -0.00 | 0.00 | ||
2064 | 17.88 | 13.40 | -4.49 | ---- | -0.00 | -0.00 | 0.00 | ||
2065 | 17.94 | 13.40 | -4.54 | ---- | -0.00 | -0.00 | 0.00 | ||
2066 | 18.00 | 13.40 | -4.60 | ---- | -0.00 | -0.00 | 0.00 | ||
2067 | 18.06 | 13.41 | -4.65 | ---- | -0.00 | -0.00 | 0.00 | ||
2068 | 18.11 | 13.41 | -4.70 | ---- | -0.00 | -0.00 | 0.00 | ||
2069 | 18.17 | 13.42 | -4.75 | ---- | -0.00 | -0.00 | 0.00 | ||
2070 | 18.23 | 13.42 | -4.80 | ---- | -0.00 | -0.00 | 0.00 | ||
2071 | 18.28 | 13.43 | -4.85 | ---- | -0.00 | -0.00 | 0.00 | ||
2072 | 18.33 | 13.43 | -4.90 | ---- | -0.01 | -0.00 | 0.00 | ||
2073 | 18.38 | 13.44 | -4.94 | ---- | -0.00 | -0.00 | 0.00 | ||
2074 | 18.42 | 13.44 | -4.98 | ---- | -0.00 | -0.00 | 0.00 | ||
2075 | 18.46 | 13.44 | -5.02 | ---- | -0.00 | -0.00 | 0.00 | ||
2076 | 18.49 | 13.45 | -5.04 | ---- | -0.00 | -0.00 | 0.00 | ||
2077 | 18.50 | 13.45 | -5.05 | ---- | -0.00 | -0.00 | 0.00 | ||
2078 | 18.50 | 13.45 | -5.05 | ---- | -0.00 | -0.00 | 0.00 | ||
2079 | 18.48 | 13.45 | -5.04 | ---- | -0.01 | -0.00 | 0.01 | ||
2080 | 18.46 | 13.45 | -5.01 | ---- | -0.01 | -0.00 | 0.01 | ||
2081 | 18.43 | 13.44 | -4.98 | ---- | -0.01 | -0.00 | 0.01 | ||
2082 | 18.39 | 13.44 | -4.94 | ---- | -0.01 | -0.00 | 0.01 | ||
2083 | 18.34 | 13.44 | -4.90 | ---- | -0.01 | -0.00 | 0.01 | ||
2084 | 18.28 | 13.44 | -4.85 | ---- | -0.01 | -0.00 | 0.01 | ||
2085 | 18.22 | 13.43 | -4.79 | ---- | -0.01 | -0.00 | 0.01 | ||
2086 | 18.15 | 13.43 | -4.72 | ---- | -0.01 | -0.00 | 0.01 | ||
2087 | 18.08 | 13.42 | -4.66 | ---- | -0.01 | -0.00 | 0.01 | ||
2088 | 18.01 | 13.42 | -4.59 | ---- | -0.01 | -0.00 | 0.01 | ||
2089 | 17.94 | 13.42 | -4.53 | ---- | -0.01 | -0.00 | 0.01 | ||
2090 | 17.88 | 13.41 | -4.47 | ---- | -0.01 | -0.00 | 0.01 | ||
2091 | 17.83 | 13.41 | -4.42 | ---- | -0.01 | -0.00 | 0.01 | ||
2092 | 17.79 | 13.41 | -4.39 | ---- | -0.01 | -0.00 | 0.01 | ||
2093 | 17.76 | 13.40 | -4.36 | ---- | -0.01 | -0.00 | 0.01 | ||
2094 | 17.75 | 13.40 | -4.34 | ---- | -0.01 | -0.00 | 0.01 | ||
2095 | 17.74 | 13.40 | -4.34 | ---- | -0.01 | -0.00 | 0.00 | ||
2096 | 17.74 | 13.40 | -4.34 | ---- | -0.00 | -0.00 | 0.00 | ||
2097 | 17.75 | 13.40 | -4.34 | ---- | -0.00 | -0.00 | 0.00 | ||
2098 | 17.77 | 13.41 | -4.36 | ---- | -0.00 | -0.00 | 0.00 |
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 | 17.39% | 13.78% | -3.61% | 2034 | 0.00% | 0.00% | -0.00% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
Based on Intermediate Assumptions of the 2023 Trustees Report.