Table 6--Financial Effects of the Social Security Guarantee Plus (SSGP) Plan (H.R. 75)--Individual Account (IA) Contributions from General Fund Indefinitely: Sensitivity = All Investments at 60 Percent Equity, 40 Percent Corporate Bonds
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: 5.05 Ultimate Real SSGP Annuity Yield Rate: 5.05 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
455
12.40
2.36
2014
12.03
12.89
0.86
461
12.40
2.36
2015
12.30
12.91
0.60
465
12.40
2.36
2016
12.60
12.93
0.32
465
12.40
2.36
2017
12.92
12.95
0.03
463
12.40
2.36
2018
13.24
12.97
-0.27
459
12.40
2.36
2019
13.57
13.00
-0.58
453
12.40
2.36
2020
13.90
13.02
-0.88
445
12.40
2.36
2021
14.22
13.04
-1.18
436
12.40
2.36
2022
14.52
13.07
-1.46
425
12.40
2.36
2023
14.80
13.09
-1.71
414
12.40
2.36
2024
15.06
13.11
-1.95
403
12.40
2.36
2025
15.28
13.13
-2.15
390
12.40
2.36
2026
15.48
13.15
-2.33
378
12.40
2.36
2027
15.66
13.17
-2.49
365
12.40
2.36
2028
15.79
13.18
-2.60
352
12.40
2.36
2029
15.88
13.20
-2.68
339
12.40
2.36
2030
15.94
13.21
-2.72
326
12.40
2.36
2031
15.96
13.23
-2.73
314
12.40
2.36
2032
15.96
13.24
-2.72
302
12.40
2.36
2033
15.92
13.25
-2.67
290
12.40
2.36
2034
15.85
13.26
-2.59
279
12.40
2.36
2035
15.74
13.26
-2.47
269
12.40
2.36
2036
15.60
13.27
-2.33
260
12.40
2.36
2037
15.44
13.27
-2.16
252
12.40
2.36
2038
15.26
13.28
-1.98
245
12.40
2.36
2039
15.06
13.28
-1.78
238
12.40
2.36
2040
14.86
13.28
-1.57
234
12.40
2.36
2041
14.65
13.28
-1.37
230
12.40
2.36
2042
14.44
13.29
-1.16
227
12.40
2.36
2043
14.23
13.29
-0.94
226
12.40
2.36
2044
14.03
13.29
-0.74
227
12.40
2.36
2045
13.84
13.30
-0.54
228
12.40
2.36
2046
13.65
13.30
-0.35
231
12.40
2.36
2047
13.47
13.30
-0.17
235
12.40
2.36
2048
13.30
13.31
0.01
241
12.40
2.36
2049
13.13
13.31
0.18
248
12.40
2.36
2050
12.97
13.32
0.35
256
12.40
2.36
2051
12.83
13.32
0.49
266
12.40
2.36
2052
12.70
13.33
0.63
277
12.40
2.36
2053
12.59
13.34
0.75
289
12.40
2.36
2054
12.48
13.34
0.86
302
12.40
2.36
2055
12.38
13.35
0.96
317
12.40
2.36
2056
12.29
13.35
1.06
332
12.40
2.36
2057
12.20
13.36
1.16
349
12.40
2.36
2058
12.12
13.37
1.25
366
12.40
2.36
2059
12.04
13.37
1.33
385
12.40
2.36
2060
11.97
13.38
1.41
405
12.40
2.36
2061
11.91
13.39
1.48
425
12.40
2.36
2062
11.85
13.39
1.54
447
12.40
2.36
2063
11.81
13.40
1.59
468
12.40
2.36
2064
11.78
13.41
1.63
491
12.40
2.36
2065
11.75
13.41
1.66
514
12.40
2.36
2066
11.73
13.42
1.68
538
12.40
2.36
2067
11.73
13.42
1.70
561
12.40
2.36
2068
11.72
13.43
1.71
585
12.40
2.36
2069
11.73
13.44
1.71
609
12.40
2.36
2070
11.74
13.44
1.70
633
12.40
2.36
2071
11.76
13.45
1.69
657
12.40
2.36
2072
11.78
13.45
1.67
682
12.40
2.36
2073
11.81
13.46
1.65
706
12.40
2.36
2074
11.84
13.46
1.62
730
12.40
2.36
2075
11.88
13.47
1.59
753
12.40
2.36
2076
11.92
13.47
1.56
777
12.40
2.36
2077
11.98
13.48
1.50
799
12.40
2.36
Summarized
Cost Rate
Income Rate
Acturial Balance
Change in
Acturial Balance
2002- 2076
13.15
13.73
0.59
2.46
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