Table 5--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 = SSGP yield equal to government bond 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: 2.75 Ultimate Real SSGP Annuity Yield Rate: 2.75 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
2.05
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
11.16
12.79
1.63
423
12.40
2.36
2011
11.35
12.83
1.49
435
12.40
2.36
2012
11.56
12.85
1.29
446
12.40
2.36
2013
11.80
12.87
1.07
454
12.40
2.36
2014
12.06
12.89
0.83
460
12.40
2.36
2015
12.34
12.91
0.56
462
12.40
2.36
2016
12.66
12.93
0.27
462
12.40
2.36
2017
12.98
12.95
-0.03
460
12.40
2.36
2018
13.32
12.97
-0.35
454
12.40
2.36
2019
13.67
13.00
-0.67
447
12.40
2.36
2020
14.02
13.02
-1.00
438
12.40
2.36
2021
14.36
13.04
-1.32
427
12.40
2.36
2022
14.69
13.07
-1.62
416
12.40
2.36
2023
14.99
13.09
-1.91
403
12.40
2.36
2024
15.28
13.11
-2.17
390
12.40
2.36
2025
15.54
13.13
-2.41
375
12.40
2.36
2026
15.78
13.15
-2.63
360
12.40
2.36
2027
16.00
13.17
-2.83
345
12.40
2.36
2028
16.18
13.18
-2.99
329
12.40
2.36
2029
16.32
13.20
-3.12
313
12.40
2.36
2030
16.43
13.21
-3.22
297
12.40
2.36
2031
16.51
13.23
-3.29
281
12.40
2.36
2032
16.57
13.24
-3.34
264
12.40
2.36
2033
16.61
13.25
-3.36
248
12.40
2.36
2034
16.61
13.25
-3.35
232
12.40
2.36
2035
16.57
13.26
-3.31
216
12.40
2.36
2036
16.52
13.26
-3.25
200
12.40
2.36
2037
16.44
13.27
-3.18
184
12.40
2.36
2038
16.36
13.27
-3.09
169
12.40
2.36
2039
16.26
13.27
-2.99
154
12.40
2.36
2040
16.16
13.28
-2.88
139
12.40
2.36
2041
16.06
13.28
-2.79
124
12.40
2.36
2042
15.97
13.28
-2.69
110
12.40
2.36
2043
15.89
13.28
-2.61
95
12.40
2.36
2044
15.81
13.28
-2.53
81
12.40
2.36
2045
15.74
13.29
-2.46
66
12.40
2.36
2046
15.68
13.29
-2.39
52
12.40
2.36
2047
15.63
13.29
-2.33
38
12.40
2.36
2048
15.58
13.30
-2.28
24
12.40
2.36
2049
15.54
13.30
-2.24
10
12.40
2.36
2050
15.50
13.30
-2.20
--
12.40
2.36
2051
15.48
13.31
-2.18
--
12.40
2.36
2052
15.48
13.31
-2.17
--
12.40
2.36
2053
15.48
13.32
-2.17
--
12.40
2.36
2054
15.50
13.32
-2.17
--
12.40
2.36
2055
15.51
13.33
-2.19
--
12.40
2.36
2056
15.53
13.33
-2.20
--
12.40
2.36
2057
15.55
13.34
-2.22
--
12.40
2.36
2058
15.58
13.34
-2.23
--
12.40
2.36
2059
15.60
13.35
-2.25
--
12.40
2.36
2060
15.63
13.35
-2.28
--
12.40
2.36
2061
15.66
13.36
-2.30
--
12.40
2.36
2062
15.69
13.36
-2.33
--
12.40
2.36
2063
15.74
13.37
-2.37
--
12.40
2.36
2064
15.78
13.37
-2.41
--
12.40
2.36
2065
15.83
13.38
-2.46
--
12.40
2.36
2066
15.89
13.38
-2.50
--
12.40
2.36
2067
15.94
13.39
-2.56
--
12.40
2.36
2068
16.00
13.39
-2.61
--
12.40
2.36
2069
16.06
13.40
-2.66
--
12.40
2.36
2070
16.12
13.40
-2.72
--
12.40
2.36
2071
16.19
13.41
-2.78
--
12.40
2.36
2072
16.25
13.41
-2.84
--
12.40
2.36
2073
16.31
13.42
-2.90
--
12.40
2.36
2074
16.38
13.42
-2.96
--
12.40
2.36
2075
16.44
13.43
-3.01
--
12.40
2.36
2076
16.50
13.43
-3.07
--
12.40
2.36
2077
16.01
13.44
-2.57
--
12.40
2.36
Summarized
Cost Rate
Income Rate
Acturial Balance
Change in
Acturial Balance
2002- 2076
14.42
13.73
-0.69
1.18
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