Table 1--Financial Effects of the Social Security Guarantee Plus (SSGP) Plan (H.R. 75)--Individual Account (IA) Contributions from General Fund Indefinitely with Average Investment at 65 Percent Equity
IA proceeds go to estate if worker dies before entitlement
Expected SSGP Yield Ultimate Real Trust Fund Interest Rate: 3.00 Ultimate Real SSGP Account Yield Rate: 5.20 Ultimate Real SSGP Annuity Yield Rate: 5.20 SSGP Transfer Rate to Trust Funds = 95%; Assumed SSGP Participation Rate = 100.0%
Year
OASDI
Trust Fund Ratio 1-1-Year
Marginal Change in OASDI Contribution Rate
Net OASDI Contribution Rate
SSGP Contribution from Trust Funds
Average IA Contribution Rate
Cost Rate 1/
Income Rate
Annual Balance
2002
10.84
12.73
1.88
261
12.40
2003
10.51
12.72
2.21
288
12.40
2.36
2004
10.59
12.73
2.14
309
12.40
2.36
2005
10.61
12.73
2.12
330
12.40
2.36
2006
10.65
12.73
2.08
351
12.40
2.36
2007
10.68
12.74
2.06
373
12.40
2.36
2008
10.78
12.75
1.97
393
12.40
2.36
2009
10.97
12.77
1.79
408
12.40
2.36
2010
11.15
12.79
1.64
423
12.40
2.36
2011
11.33
12.83
1.50
436
12.40
2.36
2012
11.54
12.85
1.31
447
12.40
2.36
2013
11.77
12.87
1.10
456
12.40
2.36
2014
12.02
12.89
0.86
462
12.40
2.36
2015
12.30
12.91
0.61
465
12.40
2.36
2016
12.60
12.93
0.33
466
12.40
2.36
2017
12.91
12.95
0.04
464
12.40
2.36
2018
13.24
12.97
-0.26
459
12.40
2.36
2019
13.57
13.00
-0.57
453
12.40
2.36
2020
13.89
13.02
-0.87
445
12.40
2.36
2021
14.21
13.04
-1.17
436
12.40
2.36
2022
14.51
13.07
-1.44
426
12.40
2.36
2023
14.79
13.09
-1.70
415
12.40
2.36
2024
15.04
13.11
-1.93
404
12.40
2.36
2025
15.26
13.13
-2.13
392
12.40
2.36
2026
15.46
13.15
-2.31
379
12.40
2.36
2027
15.63
13.17
-2.46
366
12.40
2.36
2028
15.76
13.18
-2.57
354
12.40
2.36
2029
15.85
13.20
-2.64
341
12.40
2.36
2030
15.90
13.21
-2.68
329
12.40
2.36
2031
15.91
13.23
-2.69
317
12.40
2.36
2032
15.91
13.24
-2.67
305
12.40
2.36
2033
15.87
13.25
-2.62
294
12.40
2.36
2034
15.78
13.26
-2.53
283
12.40
2.36
2035
15.67
13.26
-2.40
274
12.40
2.36
2036
15.52
13.27
-2.25
265
12.40
2.36
2037
15.35
13.27
-2.08
258
12.40
2.36
2038
15.16
13.28
-1.89
251
12.40
2.36
2039
14.96
13.28
-1.68
246
12.40
2.36
2040
14.74
13.28
-1.46
242
12.40
2.36
2041
14.53
13.28
-1.24
240
12.40
2.36
2042
14.31
13.29
-1.02
238
12.40
2.36
2043
14.09
13.29
-0.80
239
12.40
2.36
2044
13.88
13.29
-0.58
241
12.40
2.36
2045
13.67
13.30
-0.37
244
12.40
2.36
2046
13.47
13.30
-0.17
249
12.40
2.36
2047
13.28
13.31
0.03
255
12.40
2.36
2048
13.10
13.31
0.21
263
12.40
2.36
2049
12.92
13.32
0.40
272
12.40
2.36
2050
12.75
13.32
0.57
284
12.40
2.36
2051
12.60
13.33
0.73
296
12.40
2.36
2052
12.46
13.33
0.87
310
12.40
2.36
2053
12.34
13.34
1.00
325
12.40
2.36
2054
12.22
13.35
1.13
342
12.40
2.36
2055
12.11
13.35
1.24
360
12.40
2.36
2056
12.01
13.36
1.35
379
12.40
2.36
2057
11.91
13.37
1.46
400
12.40
2.36
2058
11.82
13.38
1.56
422
12.40
2.36
2059
11.73
13.38
1.65
445
12.40
2.36
2060
11.65
13.39
1.74
470
12.40
2.36
2061
11.58
13.40
1.82
496
12.40
2.36
2062
11.52
13.40
1.89
522
12.40
2.36
2063
11.47
13.41
1.94
549
12.40
2.36
2064
11.42
13.42
1.99
578
12.40
2.36
2065
11.39
13.42
2.03
606
12.40
2.36
2066
11.37
13.43
2.07
636
12.40
2.36
2067
11.35
13.44
2.09
665
12.40
2.36
2068
11.34
13.44
2.10
695
12.40
2.36
2069
11.34
13.45
2.11
725
12.40
2.36
2070
11.35
13.46
2.11
756
12.40
2.36
2071
11.36
13.46
2.10
786
12.40
2.36
2072
11.38
13.47
2.09
816
12.40
2.36
2073
11.41
13.47
2.07
847
12.40
2.36
2074
11.43
13.48
2.04
877
12.40
2.36
2075
11.47
13.48
2.01
907
12.40
2.36
2076
11.51
13.49
1.98
937
12.40
2.36
2077
11.57
13.49
1.93
965
12.40
2.36
Summarized
Cost Rate
Income Rate
Acturial Balance
Change in
Acturial Balance
2002- 2076
13.04
13.74
0.70
2.57
Based on Intermediate Assumptions of the 2002 Trustees Report. 1/ Net of Benefit Cost Reductions from SSGP Transfers.
Office of the Actuary Social Security Administration January 7, 2003