Table 4--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 = 1Percent Lower 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: 4.20 Ultimate Real SSGP Annuity Yield Rate: 4.20 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
10.98
12.77
1.79
408
12.40
2.36
2010
11.15
12.79
1.64
423
12.40
2.36
2011
11.34
12.83
1.50
436
12.40
2.36
2012
11.55
12.85
1.30
447
12.40
2.36
2013
11.78
12.87
1.09
455
12.40
2.36
2014
12.04
12.89
0.85
461
12.40
2.36
2015
12.32
12.91
0.59
464
12.40
2.36
2016
12.62
12.93
0.30
464
12.40
2.36
2017
12.94
12.95
0.01
462
12.40
2.36
2018
13.28
12.97
-0.30
457
12.40
2.36
2019
13.61
13.00
-0.61
451
12.40
2.36
2020
13.95
13.02
-0.93
442
12.40
2.36
2021
14.28
13.04
-1.24
432
12.40
2.36
2022
14.59
13.07
-1.52
421
12.40
2.36
2023
14.88
13.09
-1.79
410
12.40
2.36
2024
15.15
13.11
-2.04
397
12.40
2.36
2025
15.39
13.13
-2.26
384
12.40
2.36
2026
15.61
13.15
-2.46
371
12.40
2.36
2027
15.80
13.17
-2.63
356
12.40
2.36
2028
15.95
13.18
-2.77
342
12.40
2.36
2029
16.06
13.20
-2.87
328
12.40
2.36
2030
16.14
13.21
-2.93
314
12.40
2.36
2031
16.19
13.23
-2.97
300
12.40
2.36
2032
16.22
13.24
-2.98
286
12.40
2.36
2033
16.22
13.25
-2.97
272
12.40
2.36
2034
16.17
13.26
-2.92
259
12.40
2.36
2035
16.10
13.26
-2.84
246
12.40
2.36
2036
16.00
13.27
-2.73
234
12.40
2.36
2037
15.87
13.27
-2.60
222
12.40
2.36
2038
15.74
13.27
-2.46
211
12.40
2.36
2039
15.59
13.28
-2.31
201
12.40
2.36
2040
15.43
13.28
-2.15
191
12.40
2.36
2041
15.27
13.28
-1.99
182
12.40
2.36
2042
15.12
13.28
-1.84
174
12.40
2.36
2043
14.97
13.29
-1.69
166
12.40
2.36
2044
14.83
13.29
-1.54
159
12.40
2.36
2045
14.69
13.29
-1.40
153
12.40
2.36
2046
14.57
13.29
-1.27
147
12.40
2.36
2047
14.44
13.30
-1.15
142
12.40
2.36
2048
14.33
13.30
-1.03
137
12.40
2.36
2049
14.22
13.31
-0.92
134
12.40
2.36
2050
14.13
13.31
-0.82
130
12.40
2.36
2051
14.05
13.31
-0.73
127
12.40
2.36
2052
13.98
13.32
-0.66
125
12.40
2.36
2053
13.92
13.32
-0.60
123
12.40
2.36
2054
13.87
13.33
-0.54
121
12.40
2.36
2055
13.83
13.34
-0.50
119
12.40
2.36
2056
13.80
13.34
-0.45
118
12.40
2.36
2057
13.76
13.35
-0.42
117
12.40
2.36
2058
13.73
13.35
-0.38
116
12.40
2.36
2059
13.71
13.36
-0.35
116
12.40
2.36
2060
13.68
13.36
-0.32
115
12.40
2.36
2061
13.67
13.37
-0.30
115
12.40
2.36
2062
13.66
13.37
-0.28
115
12.40
2.36
2063
13.66
13.38
-0.28
114
12.40
2.36
2064
13.67
13.39
-0.28
114
12.40
2.36
2065
13.68
13.39
-0.29
114
12.40
2.36
2066
13.70
13.40
-0.30
114
12.40
2.36
2067
13.72
13.40
-0.32
113
12.40
2.36
2068
13.75
13.41
-0.35
113
12.40
2.36
2069
13.79
13.41
-0.38
112
12.40
2.36
2070
13.83
13.42
-0.41
110
12.40
2.36
2071
13.87
13.42
-0.44
109
12.40
2.36
2072
13.91
13.43
-0.48
107
12.40
2.36
2073
13.96
13.43
-0.53
105
12.40
2.36
2074
14.01
13.44
-0.57
103
12.40
2.36
2075
14.06
13.44
-0.62
101
12.40
2.36
2076
14.11
13.44
-0.66
98
12.40
2.36
2077
14.17
13.45
-0.72
94
12.40
2.36
Summarized
Cost Rate
Income Rate
Acturial Balance
Change in
Acturial Balance
2002- 2076
13.74
13.73
-0.01
1.87
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