Table 1a--Trust Fund Asset Comparison and PRSA Information for the Representative Nick Smith Proposal
IA proceeds go to estate if worker dies before entitlement Ultimate Real Trust Fund Interest Rate 3.00 Ultimate Real PRSA Rate for Offset 3.70 Assumed PRSA Participation Rate 0%
Year
Present Law Trust Fund Assets, End of Year
Proposal Trust Fund Assets, End of Year
IA/Annuity Assets, End of Year
PRSA Contributions in Year
PRSA Disbursements in Year 1/
(In Billions of Present Value Dollars as of 1/1/2003)
2003
1,453
1,453
2004
1,529
1,528
0
0.0
0.0
2005
1,611
1,600
0
0.0
0.0
2006
1,695
1,682
0
0.0
0.0
2007
1,779
1,783
0
0.0
0.0
2008
1,861
1,903
0
0.0
0.0
2009
1,937
2,039
0
0.0
0.0
2010
2,007
2,189
0
0.0
0.0
2011
2,071
2,358
0
0.0
0.0
2012
2,128
2,548
0
0.0
0.0
2013
2,174
2,729
0
0.0
0.0
2014
2,211
2,792
0
0.0
0.0
2015
2,237
2,850
0
0.0
0.0
2016
2,251
2,901
0
0.0
0.0
2017
2,254
2,946
0
0.0
0.0
2018
2,245
2,985
0
0.0
0.0
2019
2,224
3,018
0
0.0
0.0
2020
2,191
3,044
0
0.0
0.0
2021
2,147
3,063
0
0.0
0.0
2022
2,092
3,076
0
0.0
0.0
2023
2,027
3,085
0
0.0
0.0
2024
1,954
3,089
0
0.0
0.0
2025
1,873
3,089
0
0.0
0.0
2026
1,785
3,085
0
0.0
0.0
2027
1,690
3,080
0
0.0
0.0
2028
1,589
3,072
0
0.0
0.0
2029
1,483
3,062
0
0.0
0.0
2030
1,372
3,052
0
0.0
0.0
2031
1,259
3,041
0
0.0
0.0
2032
1,144
3,031
0
0.0
0.0
2033
1,026
3,022
0
0.0
0.0
2034
908
3,014
0
0.0
0.0
2035
789
3,008
0
0.0
0.0
2036
671
3,004
0
0.0
0.0
2037
552
3,002
0
0.0
0.0
2038
435
3,002
0
0.0
0.0
2039
319
3,005
0
0.0
0.0
2040
204
3,010
0
0.0
0.0
2041
91
3,017
0
0.0
0.0
2042
--
3,026
0
0.0
0.0
2043
--
3,038
0
0.0
0.0
2044
--
3,052
0
0.0
0.0
2045
--
3,068
0
0.0
0.0
2046
--
3,085
0
0.0
0.0
2047
--
3,104
0
0.0
0.0
2048
--
3,125
0
0.0
0.0
2049
--
3,147
0
0.0
0.0
2050
--
3,171
0
0.0
0.0
2051
--
3,195
0
0.0
0.0
2052
--
3,221
0
0.0
0.0
2053
--
3,247
0
0.0
0.0
2054
--
3,275
0
0.0
0.0
2055
--
3,303
0
0.0
0.0
2056
--
3,332
0
0.0
0.0
2057
--
3,361
0
0.0
0.0
2058
--
3,392
0
0.0
0.0
2059
--
3,423
0
0.0
0.0
2060
--
3,454
0
0.0
0.0
2061
--
3,487
0
0.0
0.0
2062
--
3,520
0
0.0
0.0
2063
--
3,553
0
0.0
0.0
2064
--
3,587
0
0.0
0.0
2065
--
3,621
0
0.0
0.0
2066
--
3,656
0
0.0
0.0
2067
--
3,691
0
0.0
0.0
2068
--
3,727
0
0.0
0.0
2069
--
3,762
0
0.0
0.0
2070
--
3,798
0
0.0
0.0
2071
--
3,833
0
0.0
0.0
2072
--
3,868
0
0.0
0.0
2073
--
3,903
0
0.0
0.0
2074
--
3,938
0
0.0
0.0
2075
--
3,973
0
0.0
0.0
2076
--
4,008
0
0.0
0.0
2077
--
4,042
0
0.0
0.0
Based on Intermediate Assumptions of the 2003 Trustees Report. 1/ Excludes proceeds of PRSAs that go to the worker's estate if the worker dies before entitlement.
Office of the Actuary Social Security Administration September 9, 2003