Detailed Single Year Tables
Description of Proposed Provision:
E3.7: Increase the taxable maximum by an additional 2 percent per year beginning in 2026 until taxable earnings equal 90 percent of covered earnings. Provide benefit credit for earnings up to the revised taxable maximum. Create a new bend point equal to the current-law taxable maximum with a 5 percent formula factor applying above the new bend point.
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 |
|||
2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
2026 | 15.20 | 13.11 | -2.09 | 152 | 0.00 | 0.04 | 0.04 | ||
2027 | 15.36 | 13.19 | -2.17 | 135 | -0.00 | 0.09 | 0.09 | ||
2028 | 15.42 | 13.26 | -2.15 | 118 | -0.00 | 0.13 | 0.13 | ||
2029 | 15.47 | 13.34 | -2.13 | 102 | 0.00 | 0.17 | 0.17 | ||
2030 | 15.53 | 13.39 | -2.14 | 87 | 0.00 | 0.21 | 0.21 | ||
2031 | 15.58 | 13.46 | -2.12 | 72 | 0.00 | 0.25 | 0.25 | ||
2032 | 15.60 | 13.51 | -2.09 | 58 | 0.00 | 0.29 | 0.29 | ||
2033 | 15.66 | 13.60 | -2.07 | 45 | 0.00 | 0.33 | 0.33 | ||
2034 | 15.78 | 13.64 | -2.14 | 32 | 0.00 | 0.36 | 0.36 | ||
2035 | 15.89 | 13.69 | -2.20 | 18 | 0.00 | 0.40 | 0.40 | ||
2036 | 15.99 | 13.74 | -2.26 | 5 | 0.00 | 0.44 | 0.44 | ||
2037 | 16.10 | 13.78 | -2.32 | — | 0.00 | 0.47 | 0.47 | ||
2038 | 16.18 | 13.82 | -2.36 | — | 0.01 | 0.51 | 0.50 | ||
2039 | 16.26 | 13.86 | -2.40 | — | 0.01 | 0.54 | 0.54 | ||
2040 | 16.33 | 13.90 | -2.43 | — | 0.01 | 0.58 | 0.57 | ||
2041 | 16.39 | 13.94 | -2.46 | — | 0.01 | 0.61 | 0.59 | ||
2042 | 16.45 | 13.97 | -2.48 | — | 0.01 | 0.64 | 0.62 | ||
2043 | 16.50 | 14.01 | -2.49 | — | 0.02 | 0.67 | 0.65 | ||
2044 | 16.54 | 14.04 | -2.49 | — | 0.02 | 0.70 | 0.68 | ||
2045 | 16.57 | 14.08 | -2.50 | — | 0.02 | 0.73 | 0.71 | ||
2046 | 16.61 | 14.11 | -2.51 | — | 0.03 | 0.76 | 0.73 | ||
2047 | 16.65 | 14.14 | -2.51 | — | 0.03 | 0.79 | 0.76 | ||
2048 | 16.70 | 14.17 | -2.53 | — | 0.03 | 0.82 | 0.78 | ||
2049 | 16.75 | 14.20 | -2.54 | — | 0.04 | 0.84 | 0.81 | ||
2050 | 16.80 | 14.23 | -2.57 | — | 0.04 | 0.87 | 0.83 | ||
2051 | 16.86 | 14.26 | -2.59 | — | 0.05 | 0.90 | 0.85 | ||
2052 | 16.92 | 14.30 | -2.63 | — | 0.05 | 0.92 | 0.87 | ||
2053 | 16.99 | 14.33 | -2.67 | — | 0.06 | 0.95 | 0.89 | ||
2054 | 17.07 | 14.36 | -2.71 | — | 0.07 | 0.97 | 0.91 | ||
2055 | 17.15 | 14.39 | -2.76 | — | 0.07 | 1.00 | 0.93 | ||
2056 | 17.24 | 14.42 | -2.82 | — | 0.08 | 1.02 | 0.94 | ||
2057 | 17.33 | 14.45 | -2.88 | — | 0.09 | 1.05 | 0.96 | ||
2058 | 17.43 | 14.48 | -2.95 | — | 0.10 | 1.07 | 0.97 | ||
2059 | 17.52 | 14.51 | -3.01 | — | 0.10 | 1.09 | 0.99 | ||
2060 | 17.62 | 14.54 | -3.08 | — | 0.11 | 1.12 | 1.00 | ||
2061 | 17.70 | 14.57 | -3.13 | — | 0.12 | 1.14 | 1.02 | ||
2062 | 17.78 | 14.59 | -3.19 | — | 0.13 | 1.15 | 1.03 | ||
2063 | 17.86 | 14.60 | -3.26 | — | 0.14 | 1.16 | 1.02 | ||
2064 | 17.94 | 14.61 | -3.33 | — | 0.15 | 1.16 | 1.01 | ||
2065 | 18.01 | 14.61 | -3.40 | — | 0.16 | 1.16 | 1.00 | ||
2066 | 18.08 | 14.62 | -3.46 | — | 0.17 | 1.16 | 1.00 | ||
2067 | 18.16 | 14.63 | -3.53 | — | 0.17 | 1.16 | 0.99 | ||
2068 | 18.23 | 14.63 | -3.60 | — | 0.18 | 1.17 | 0.98 | ||
2069 | 18.31 | 14.64 | -3.67 | — | 0.19 | 1.17 | 0.97 | ||
2070 | 18.39 | 14.65 | -3.74 | — | 0.20 | 1.17 | 0.97 | ||
2071 | 18.46 | 14.66 | -3.80 | — | 0.21 | 1.17 | 0.96 | ||
2072 | 18.53 | 14.66 | -3.87 | — | 0.22 | 1.17 | 0.95 | ||
2073 | 18.60 | 14.67 | -3.93 | — | 0.23 | 1.18 | 0.95 | ||
2074 | 18.67 | 14.68 | -3.99 | — | 0.24 | 1.18 | 0.94 | ||
2075 | 18.73 | 14.68 | -4.05 | — | 0.25 | 1.18 | 0.93 | ||
2076 | 18.78 | 14.69 | -4.09 | — | 0.26 | 1.18 | 0.93 | ||
2077 | 18.82 | 14.69 | -4.13 | — | 0.26 | 1.18 | 0.92 | ||
2078 | 18.85 | 14.70 | -4.16 | — | 0.27 | 1.18 | 0.91 | ||
2079 | 18.87 | 14.70 | -4.17 | — | 0.28 | 1.19 | 0.91 | ||
2080 | 18.88 | 14.70 | -4.18 | — | 0.28 | 1.19 | 0.90 | ||
2081 | 18.88 | 14.70 | -4.17 | — | 0.29 | 1.19 | 0.90 | ||
2082 | 18.87 | 14.71 | -4.16 | — | 0.30 | 1.19 | 0.90 | ||
2083 | 18.85 | 14.71 | -4.14 | — | 0.30 | 1.19 | 0.89 | ||
2084 | 18.82 | 14.71 | -4.11 | — | 0.31 | 1.19 | 0.89 | ||
2085 | 18.78 | 14.70 | -4.08 | — | 0.31 | 1.19 | 0.89 | ||
2086 | 18.73 | 14.70 | -4.03 | — | 0.31 | 1.20 | 0.88 | ||
2087 | 18.68 | 14.70 | -3.98 | — | 0.32 | 1.20 | 0.88 | ||
2088 | 18.62 | 14.70 | -3.93 | — | 0.32 | 1.20 | 0.88 | ||
2089 | 18.57 | 14.69 | -3.87 | — | 0.32 | 1.20 | 0.88 | ||
2090 | 18.51 | 14.69 | -3.82 | — | 0.32 | 1.20 | 0.88 | ||
2091 | 18.47 | 14.69 | -3.78 | — | 0.32 | 1.20 | 0.87 | ||
2092 | 18.43 | 14.69 | -3.75 | — | 0.33 | 1.20 | 0.87 | ||
2093 | 18.41 | 14.69 | -3.72 | — | 0.33 | 1.20 | 0.87 | ||
2094 | 18.40 | 14.69 | -3.71 | — | 0.33 | 1.20 | 0.87 | ||
2095 | 18.40 | 14.69 | -3.71 | — | 0.33 | 1.20 | 0.87 | ||
2096 | 18.41 | 14.69 | -3.72 | — | 0.33 | 1.20 | 0.87 | ||
2097 | 18.43 | 14.69 | -3.74 | — | 0.34 | 1.21 | 0.87 | ||
2098 | 18.46 | 14.69 | -3.77 | — | 0.34 | 1.21 | 0.87 | ||
2099 | 18.50 | 14.70 | -3.80 | — | 0.34 | 1.21 | 0.87 |
Summarized Estimates
Proposal | Change from Current Law | ||||||||
---|---|---|---|---|---|---|---|---|---|
Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
2024-2098 | 17.43% | 14.65% | -2.78% | 2036 | 0.13% | 0.85% | 0.72% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
Based on Intermediate Assumptions of the 2024 Trustees Report.