Table 2--Financial Effects of the Social Security Guarantee Plus (SSGP) Plan (H.R. 75)--with Average Investment at 65 Percent Equity--Assume Subsequent Legislation = Full Individual Account (IA) Contributions from Trust Funds by 2060
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
12.88
-1.86
242
-0.400
12.00
0.40
2.36
2041
14.53
12.88
-1.64
237
12.00
0.40
2.36
2042
14.31
12.89
-1.42
233
12.00
0.40
2.36
2043
14.09
12.89
-1.20
230
12.00
0.40
2.36
2044
13.88
12.89
-0.98
229
12.00
0.40
2.36
2045
13.67
12.60
-1.07
229
-0.300
11.70
0.70
2.36
2046
13.47
12.60
-0.87
228
11.70
0.70
2.36
2047
13.28
12.61
-0.67
229
11.70
0.70
2.36
2048
13.10
12.61
-0.49
231
11.70
0.70
2.36
2049
12.92
12.62
-0.30
234
11.70
0.70
2.36
2050
12.75
12.12
-0.63
238
-0.500
11.20
1.20
2.36
2051
12.60
12.13
-0.47
240
11.20
1.20
2.36
2052
12.46
12.13
-0.33
243
11.20
1.20
2.36
2053
12.34
12.14
-0.20
247
11.20
1.20
2.36
2054
12.22
12.15
-0.07
252
11.20
1.20
2.36
2055
12.11
11.55
-0.56
258
-0.600
10.60
1.80
2.36
2056
12.01
11.56
-0.45
260
10.60
1.80
2.36
2057
11.91
11.57
-0.34
262
10.60
1.80
2.36
2058
11.82
11.58
-0.24
266
10.60
1.80
2.36
2059
11.73
11.58
-0.15
270
10.60
1.80
2.36
2060
11.65
11.03
-0.61
276
-0.556
10.04
2.36
2.36
2061
11.58
11.04
-0.53
277
10.04
2.36
2.36
2062
11.52
11.05
-0.47
278
10.04
2.36
2.36
2063
11.47
11.06
-0.41
280
10.04
2.36
2.36
2064
11.42
11.06
-0.36
282
10.04
2.36
2.36
2065
11.39
11.07
-0.32
285
10.04
2.36
2.36
2066
11.37
11.08
-0.29
287
10.04
2.36
2.36
2067
11.35
11.08
-0.27
290
10.04
2.36
2.36
2068
11.34
11.09
-0.25
293
10.04
2.36
2.36
2069
11.34
11.09
-0.25
295
10.04
2.36
2.36
2070
11.35
11.10
-0.25
298
10.04
2.36
2.36
2071
11.36
11.11
-0.26
301
10.04
2.36
2.36
2072
11.38
11.11
-0.27
303
10.04
2.36
2.36
2073
11.41
11.12
-0.29
305
10.04
2.36
2.36
2074
11.43
11.12
-0.31
307
10.04
2.36
2.36
2075
11.47
11.13
-0.34
309
10.04
2.36
2.36
2076
11.51
11.13
-0.37
310
10.04
2.36
2.36
2077
11.57
11.14
-0.43
311
10.04
2.36
2.36
Summarized
Cost Rate
Income Rate
Acturial Balance
Change in
Acturial Balance
2002- 2076
13.04
13.21
0.17
2.04
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