Table 3--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: Sensitivity = 1 Percent Higher than Expected Yield
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: 6.20 Ultimate Real SSGP Annuity Yield Rate: 6.20 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
10.77
12.75
1.98
393
12.40
2.36
2009
10.97
12.77
1.80
408
12.40
2.36
2010
11.14
12.79
1.64
423
12.40
2.36
2011
11.33
12.83
1.51
436
12.40
2.36
2012
11.53
12.85
1.32
448
12.40
2.36
2013
11.76
12.87
1.11
456
12.40
2.36
2014
12.01
12.89
0.88
462
12.40
2.36
2015
12.28
12.91
0.63
466
12.40
2.36
2016
12.57
12.93
0.35
467
12.40
2.36
2017
12.88
12.95
0.07
466
12.40
2.36
2018
13.20
12.97
-0.22
462
12.40
2.36
2019
13.51
13.00
-0.52
456
12.40
2.36
2020
13.83
13.02
-0.81
449
12.40
2.36
2021
14.14
13.04
-1.09
441
12.40
2.36
2022
14.42
13.07
-1.35
431
12.40
2.36
2023
14.68
13.09
-1.59
421
12.40
2.36
2024
14.91
13.11
-1.80
411
12.40
2.36
2025
15.11
13.13
-1.98
400
12.40
2.36
2026
15.29
13.15
-2.14
389
12.40
2.36
2027
15.43
13.17
-2.26
378
12.40
2.36
2028
15.53
13.19
-2.34
367
12.40
2.36
2029
15.58
13.20
-2.38
357
12.40
2.36
2030
15.60
13.22
-2.38
347
12.40
2.36
2031
15.57
13.23
-2.35
337
12.40
2.36
2032
15.52
13.24
-2.28
329
12.40
2.36
2033
15.43
13.25
-2.18
321
12.40
2.36
2034
15.30
13.26
-2.04
314
12.40
2.36
2035
15.13
13.27
-1.87
309
12.40
2.36
2036
14.93
13.27
-1.66
306
12.40
2.36
2037
14.70
13.28
-1.43
304
12.40
2.36
2038
14.45
13.28
-1.17
304
12.40
2.36
2039
14.18
13.29
-0.89
307
12.40
2.36
2040
13.89
13.29
-0.60
311
12.40
2.36
2041
13.59
13.29
-0.30
319
12.40
2.36
2042
13.29
13.30
0.01
329
12.40
2.36
2043
12.98
13.30
0.33
342
12.40
2.36
2044
12.68
13.31
0.63
358
12.40
2.36
2045
12.39
13.32
0.93
377
12.40
2.36
2046
12.11
13.33
1.22
400
12.40
2.36
2047
11.83
13.33
1.51
426
12.40
2.36
2048
11.56
13.34
1.79
456
12.40
2.36
2049
11.30
13.36
2.06
490
12.40
2.36
2050
11.04
13.37
2.32
527
12.40
2.36
2051
10.81
13.38
2.57
569
12.40
2.36
2052
10.59
13.40
2.81
614
12.40
2.36
2053
10.38
13.41
3.03
663
12.40
2.36
2054
10.18
13.43
3.25
717
12.40
2.36
2055
9.99
13.45
3.46
775
12.40
2.36
2056
9.81
13.47
3.66
838
12.40
2.36
2057
9.63
13.49
3.86
905
12.40
2.36
2058
9.46
13.51
4.05
976
12.40
2.36
2059
9.30
13.53
4.23
1,052
12.40
2.36
2060
9.15
13.55
4.40
1,133
12.40
2.36
2061
9.01
13.58
4.56
1,218
12.40
2.36
2062
8.89
13.60
4.71
1,306
12.40
2.36
2063
8.79
13.63
4.84
1,397
12.40
2.36
2064
8.68
13.65
4.98
1,493
12.40
2.36
2065
8.58
13.67
5.10
1,593
12.40
2.36
2066
8.49
13.70
5.20
1,696
12.40
2.36
2067
8.42
13.72
5.30
1,800
12.40
2.36
2068
8.36
13.74
5.38
1,906
12.40
2.36
2069
8.32
13.77
5.45
2,013
12.40
2.36
2070
8.28
13.79
5.50
2,120
12.40
2.36
2071
8.26
13.81
5.55
2,229
12.40
2.36
2072
8.25
13.83
5.58
2,336
12.40
2.36
2073
8.25
13.84
5.60
2,444
12.40
2.36
2074
8.26
13.86
5.60
2,551
12.40
2.36
2075
8.27
13.87
5.60
2,657
12.40
2.36
2076
8.29
13.89
5.60
2,763
12.40
2.36
2077
8.36
13.89
5.53
2,854
12.40
2.36
Summarized
Cost Rate
Income Rate
Acturial Balance
Change in
Acturial Balance
2002- 2076
12.17
13.79
1.61
3.49
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