SOCIAL SECURITY

MEMORANDUM
Date:

August 10, 2005

To:

Stephen C. Goss, Chief Actuary

From:

Chris Chaplain, Actuary
Alice H. Wade, Deputy Chief Actuary

Subject:

Estimated OASDI Long-Range Financial Effects of Several Provisions Requested by the Social
Security Advisory Board--INFORMATION

Refer To: TCC

This memorandum provides long-range estimates of the effects on trust fund solvency and
operations of several provisions that would change the current-law OASDI (combined Old-Age
and Survivors and Disability Insurance) program. The Advisory Board has requested estimates
for these provisions. Estimates for the provisions in this memorandum are based on the
intermediate assumptions of the 2005 Trustees Report. This memorandum contains updated
estimates of the provisions in our earlier February 7, 2005 memorandum (then based on the
intermediate assumptions of the 2004 Trustees Report), in addition to estimates of several other
provisions requested by the Advisory Board.
Each of the provisions would increase (improve) the long-range OASDI actuarial balance. Most
would reduce the size of the annual deficits at the end of the long-range period, thus contributing
toward attaining sustainable solvency. The provisions are grouped into the following categories:
• Reducing the cost-of-living adjustment,
• Revising the benefit formula,
• Changing the normal retirement age,
• Increasing the payroll tax rate or the taxation of Social Security benefits,
• Revising the benefit and contribution base,
• Extending OASDI program coverage, and
• Changing the investment requirements for the combined Old-Age and Survivors
Insurance (OASI) and Disability Insurance (DI) Trust Funds.
Table I contains a brief description of each of the provisions and the associated estimated effect
on the long-range OASDI actuarial balance, as well as on the 75th year annual balance.
For each of the proposed provisions in table I, a separate detailed table is provided (tables A1
through G3). These separate tables are numbered corresponding to the provision number in table
I. It is very important to note that effects are shown for each provision separately, that is, as if
each provision were enacted alone. Combining several provisions involves complex interactions
among provisions which can make the combined effect quite different from simply summing the
individual effects.

2

The numbered tables for individual provisions include annual and 75-year-summarized cost
rates, income rates, and balances for the OASDI program assuming enactment of each of the
provisions. In addition, the numbered tables also provide the projected trust fund ratio (TFR) for
each year until the combined OASI and DI Trust Funds are projected to be exhausted. The TFR
is defined as the amount of assets in the combined OASI and DI Trust Funds as of the beginning
of the year, expressed as a percentage of the cost of the OASDI program during the year. Under
present law, the combined OASI and DI Trust Funds are projected to be exhausted in 2041.
Under each proposed provision, the year of exhaustion would be extended beyond the projected
exhaustion year of 2041 under current law. Four of the proposed provisions (provisions B6, D1,
D2, and E1) would result in the combined OASI and DI Trust Funds remaining solvent through
the end of the 75-year period. However, as the corresponding numbered tables show, sustainable
solvency would be achieved under only one of these proposed provisions (provision B6, which
reduces all PIA formula factors for real wage growth). Sustainable solvency is indicated if the
TFR is projected to be:
1. Positive throughout the 75-year projection period, and
2. Either stable or rising at the end of the 75-year period.
Tables G1, G2, and G3 provide financial estimates for a provision to invest 40 percent of the
combined OASI and DI Trust Funds in equities. Estimates between the tables differ because
different real rates of return on equities are assumed. Estimates in table G1 assume an
“expected” long-term average of 6.5-percent real rate of return on equities (our standard
assumption for the future). Table G2 provides a sensitivity illustration by assuming an
“expected” long-term average 5.5-percent real rate of return for equities. The annual income
rates, cost rates, and balances are identical between the two tables because non-interest income
and projected cost are the same. However, the amount of interest earned by the combined OASI
and DI Trust Funds differs between the two tables, resulting in differing TFRs and a later
projected exhaustion year in table G1. Table G3 illustrates the effect of investing 40 percent of
the Trust Funds in equities assuming that equities in fact have a yield in the future no higher than
the expected yield on Treasury bonds. This is equivalent to assuming a “risk-adjusted” yield.
This estimate shows no change from the present-law estimates under the intermediate
assumptions of the 2005 Trustees Report as a result of investing a portion of Trust Fund assets in
equities.

Chris Chaplain

Alice H. Wade
Attachments: 27

Table I—Estimated Long-Range OASDI Financial Effects of Several Individual Provisions1 Using the
Intermediate Assumptions of the 2005 Trustees Report

Number

Provision

Estimated Change in
Long-Range OASDI
Actuarial Balance2

Estimated Change in
Annual Balance in
75th year3 (as a percent

(as a percent of payroll)

of payroll)

A. Reducing the cost-of-living adjustment
A1

A2

A3

Reduce the COLA for OASDI benefits by 0.5 percentage points
beginning December 2006 ................................................................

0.76

1.20

Reduce the COLA for OASDI benefits by 1 percentage point
beginning December 2006 ................................................................

1.49

2.30

Use the “superlative” (or “chained”) CPI for COLAs beginning
December 2006, estimated to reduce the COLA by 0.22
percentage point................................................................................

0.34

0.54

Increase the number of years used to calculate benefits for
retirees and survivors (but not for disabled workers) from 35 to
38 (phased in 2006-2010); i.e., 36 for 2006-07, 37 for 2008-09,
and 38 for 2010 and later ..................................................................

0.28

0.43

Increase the number of years used to calculate benefits for
retirees and survivors (but not for disabled workers) from 35 to
40 (phased in 2006-2014); i.e., 36 for 2006-07, 37 for 2008-09,
38 for 2010-11, 39 for 2012-13, and 40 for 2014 and later ..............

0.46

0.73

For each year from 2006-2036, multiply the 32 and 15 percent
benefit formula factors by 0.987, reducing the factors to 21 and
10 percent respectively, for new eligibles in 2036 and later.............

1.60

3.29

Reduce benefits across the board by 3 percent for those newly
eligible for benefits in 2006 and later ...............................................

0.37

0.54

Reduce benefits across the board by 5 percent for those newly
eligible for benefits in 2006 and later ...............................................

0.61

0.90

Starting for those newly eligible for OASDI benefits in 2012 and
later, reduce the PIA formula factors by real wage growth (i.e.,
“CPI-index” the formula factors) .....................................................

2.38

7.85

Create a new bend point at the level of the career-average
earnings at the 30th percentile of those becoming newly eligible
for OASDI benefits in 2012 and later (estimated to be 28.6% of
the way between the present law first and second bend points).
Maintain the lower two formula factors of 90% and 32%.
Reduce the upper two formula factors (32% and 15%) such that
the maximum worker benefit grows from one generation to the
next by inflation, rather than by the growth in average wages .........

1.43

4.62

B. Revising the benefit formula
B1

B2

B3

B4

B5

B6

B7

Table I—Estimated Long-Range OASDI Financial Effects of Several Individual Provisions1 Using the
Intermediate Assumptions of the 2005 Trustees Report

Number
B8

B9

B10

Provision

Estimated Change in
Long-Range OASDI
Actuarial Balance2

Estimated Change in
Annual Balance in
75th year3 (as a percent

(as a percent of payroll)

of payroll)

Create a new bend point at the level of the career-average
earnings at the 40th percentile of those becoming newly eligible
for OASDI benefits in 2012 and later (estimated to be 44.7% of
the way between the present law first and second bend points).
Maintain the lower two formula factors of 90% and 32%.
Reduce the upper two formula factors (32% and 15%) such that
the maximum worker benefit grows from one generation to the
next by inflation, rather than by the growth in average wages .........

1.21

3.89

Create a new bend point at the level of the career-average
earnings at the 50th percentile of those becoming newly eligible
for OASDI benefits in 2012 and later (estimated to be 61.5% of
the way between the present law first and second bend points).
Maintain the lower two formula factors of 90% and 32%.
Reduce the upper two formula factors (32% and 15%) such that
the maximum worker benefit grows from one generation to the
next by inflation, rather than by the growth in average wages .........

0.97

2.92

Create a new bend point at the level of the career-average
earnings at the 60th percentile of those becoming newly eligible
for OASDI benefits in 2012 and later (estimated to be 78.8% of
the way between the present law first and second bend points).
Maintain the lower two formula factors of 90% and 32%.
Reduce the upper two formula factors (32% and 15%) such that
the maximum worker benefit grows from one generation to the
next by inflation, rather than by the growth in average wages .........

0.68

1.82

Eliminate the hiatus in the normal retirement age (speed up the
increase to age 67) ............................................................................

0.14

0.00

Eliminate the hiatus in the normal retirement age (speed up the
increase to age 67) and then index the normal retirement age
(by 1 month every 2 years) until the NRA reaches age 68 ...............

0.52

0.76

Eliminate the hiatus in the normal retirement age (speed up the
increase to age 67) and then index the normal retirement age
(by 1 month every 2 years) until the NRA reaches age 70 ...............

0.69

1.61

C. Changing the normal retirement age
C1

C2

C3

D. Increasing the payroll tax rate or taxation of Social Security benefits
D1

D2

Raise payroll tax rates (for employees and employers combined)
by 2.0 percentage points in 2006 and later........................................

1.96

2.00

Raise payroll tax rates (for employees and employers combined)
by 2.1 percentage points in 2020-2049 and by an additional 2.1
percentage points in 2050 .................................................................

1.98

4.21

Table I—Estimated Long-Range OASDI Financial Effects of Several Individual Provisions1 Using the
Intermediate Assumptions of the 2005 Trustees Report

Number
D3

Provision

Estimated Change in
Long-Range OASDI
Actuarial Balance2

Estimated Change in
Annual Balance in
75th year3 (as a percent

(as a percent of payroll)

of payroll)

Tax Social Security benefits in a manner similar to private
pension income beginning in 2006. Phase out the lower-income
thresholds during 2006-2015. ...........................................................

0.33

0.27

E. Revising the benefit and contribution base
E1

E2

E3

Make all earnings subject to the payroll tax (but retain the cap
for benefit calculations) beginning in 2006 ......................................

2.21

2.89

Make all earnings subject to the payroll tax and credit them for
benefit purposes beginning in 2006 ..................................................

1.82

2.06

Make 90% of the earnings subject to the payroll tax and credit
them for benefit purposes (phased in 2006-2015)4 ...........................

0.83

0.96

0.22

0.01

F. Extending program coverage
F1

Cover newly hired State and local government employees
beginning in 2006 .............................................................................

G. Changing the investment requirements for the combined OASI and DI Trust Funds
G1

G2

G3

Invest 40% of the Trust Funds in equities (phased in 2006-2020),
assuming a 6.5-percent real rate of return on equities (standard
assumption).......................................................................................

0.88

0.00

Invest 40% of the Trust Funds in equities (phased in 2006-2020),
assuming a 5.5-percent real rate of return on equities ......................

0.64

0.00

Invest 40% of the Trust Funds in equities (phased in 2006-2020),
assuming an ultimate 3 percent real rate of return on equities, the
same as the expected yield on Treasury bonds .................................

0.00

0.00

1

All estimates are for individual provisions, as if each were enacted alone. The combined effect of several provisions
together would involve complex interactions that can result in quite different effects from those implied by simply adding
the effect of the individual provisions.
2
Under the intermediate assumptions of the 2005 Trustees Report, the 75-year actuarial balance is -1.92 percent of taxable
payroll.
3
Under the intermediate assumptions of the 2005 Trustees Report, the annual balance in the 75th year of the projection
period is -5.70 percent of the taxable payroll for that year.
4
This estimate reflects a revised calculation of the taxable ratio (i.e., the percentage of earnings subject to payroll tax).
Refer to forthcoming OCACT memorandum for a full explanation.
Social Security Administration
Office of the Chief Actuary
August xx, 2005

Table A1 Financial Estimates for the OASDI Trust Fund Program
Reduce the COLA for OASDI Benefits by 0.5 percentage points beginning December 2006
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.90
10.89
10.98
11.06
11.19
11.39
11.62
11.85
12.09
12.35
12.62
12.89
13.16
13.45
13.73
14.00
14.27
14.53
14.79
15.05
15.28
15.49
15.67
15.84
15.99
16.13
16.23
16.30
16.36
16.41
16.43
16.45
16.45
16.44
16.44
16.44
16.44
16.44
16.45
16.46
16.47
16.48
16.50
16.53
16.56
16.59
16.63
16.67
16.71
16.76
16.81
16.86
16.90
16.95
17.00
17.05
17.10
17.16
17.21
17.26
17.32
17.37
17.41
17.45
17.49
17.54
17.57
17.61
17.65
17.69
17.73
17.77
17.81
17.85

12.72
12.73
12.74
12.78
12.77
12.79
12.83
12.86
12.89
12.90
12.92
12.94
12.96
12.97
12.99
13.01
13.02
13.04
13.06
13.07
13.09
13.10
13.12
13.13
13.14
13.15
13.17
13.18
13.18
13.19
13.19
13.20
13.20
13.21
13.21
13.21
13.21
13.21
13.21
13.21
13.21
13.22
13.22
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.29
13.29
13.30
13.30
13.30
13.30
13.31
13.31
13.31

1.59
1.73
1.84
1.89
1.78
1.72
1.64
1.47
1.27
1.05
0.83
0.59
0.34
0.08
-0.17
-0.44
-0.70
-0.96
-1.21
-1.46
-1.71
-1.95
-2.16
-2.36
-2.53
-2.68
-2.83
-2.95
-3.04
-3.11
-3.17
-3.21
-3.23
-3.24
-3.24
-3.23
-3.23
-3.23
-3.23
-3.23
-3.23
-3.24
-3.25
-3.26
-3.28
-3.30
-3.33
-3.36
-3.40
-3.43
-3.47
-3.52
-3.56
-3.61
-3.65
-3.70
-3.74
-3.79
-3.84
-3.89
-3.94
-3.99
-4.04
-4.09
-4.13
-4.17
-4.21
-4.24
-4.28
-4.31
-4.35
-4.39
-4.42
-4.46
-4.50
-4.54

320
337
357
374
389
403
416
426
434
440
445
447
447
446
443
439
434
427
419
410
399
388
375
362
349
335
321
306
291
275
260
244
228
212
196
179
163
146
129
111
94
76
57
39
19
0
-------------------------------------------------------------------------------------------

Income
Rate
13.83%

Actuarial
Balance
-1.16%

Change in
Actuarial
Balance
0.76%

Summarized Rates: OASDI
2005
-2079

Cost Rate
14.99%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table A2 Financial Estimates for the OASDI Trust Fund Program
Reduce the COLA for OASDI Benefits by 1 percentage point beginning December 2006
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.85
10.73
10.77
10.81
10.90
11.07
11.25
11.46
11.66
11.89
12.13
12.37
12.61
12.86
13.11
13.36
13.60
13.83
14.07
14.30
14.50
14.68
14.84
14.99
15.12
15.24
15.32
15.38
15.42
15.45
15.47
15.47
15.46
15.45
15.45
15.44
15.44
15.43
15.44
15.45
15.46
15.47
15.48
15.51
15.53
15.57
15.60
15.64
15.68
15.72
15.77
15.81
15.86
15.90
15.94
15.99
16.04
16.09
16.13
16.18
16.23
16.27
16.31
16.35
16.38
16.42
16.45
16.48
16.51
16.55
16.58
16.62
16.66
16.69

12.72
12.73
12.74
12.78
12.76
12.78
12.82
12.85
12.87
12.89
12.90
12.92
12.93
12.95
12.96
12.98
13.00
13.01
13.02
13.04
13.05
13.07
13.08
13.09
13.10
13.11
13.12
13.13
13.14
13.14
13.15
13.15
13.15
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.17
13.17
13.17
13.17
13.17
13.18
13.18
13.18
13.18
13.19
13.19
13.19
13.20
13.20
13.20
13.21
13.21
13.21
13.21
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25

1.59
1.73
1.89
2.05
1.98
1.96
1.92
1.78
1.62
1.43
1.24
1.03
0.81
0.58
0.35
0.12
-0.12
-0.35
-0.57
-0.80
-1.01
-1.23
-1.42
-1.59
-1.74
-1.88
-2.00
-2.10
-2.18
-2.23
-2.27
-2.30
-2.32
-2.32
-2.31
-2.30
-2.29
-2.28
-2.28
-2.27
-2.27
-2.28
-2.29
-2.30
-2.32
-2.34
-2.36
-2.39
-2.43
-2.46
-2.50
-2.54
-2.58
-2.62
-2.66
-2.70
-2.74
-2.78
-2.83
-2.87
-2.92
-2.96
-3.01
-3.05
-3.08
-3.12
-3.15
-3.18
-3.21
-3.24
-3.28
-3.31
-3.34
-3.37
-3.41
-3.44

320
337
358
380
398
416
433
447
459
469
478
484
489
492
494
494
493
490
487
482
476
469
462
454
446
437
428
418
409
400
391
381
372
363
354
345
336
327
317
308
298
288
278
267
257
246
234
223
211
198
186
172
159
145
130
116
100
85
69
52
35
18
0
----------------------------------------

Income
Rate
13.79%

Actuarial
Balance
-0.44%

Change in
Actuarial
Balance
1.49%

Summarized Rates: OASDI
2005
-2079

Cost Rate
14.23%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table A3 Financial Estimates for the OASDI Trust Fund Program
Beginning December 2006, use the "superlative" (or "chained") CPI for COLAs, estimated to reduce
the COLA by 0.22 percentage points
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.93
10.95
11.06
11.17
11.32
11.55
11.79
12.05
12.31
12.59
12.88
13.17
13.46
13.77
14.07
14.36
14.65
14.93
15.21
15.48
15.73
15.96
16.15
16.34
16.51
16.65
16.76
16.85
16.92
16.97
17.01
17.03
17.03
17.03
17.04
17.04
17.04
17.04
17.05
17.06
17.08
17.09
17.11
17.14
17.17
17.21
17.25
17.29
17.33
17.38
17.43
17.48
17.53
17.58
17.64
17.69
17.75
17.81
17.86
17.92
17.98
18.03
18.08
18.12
18.17
18.21
18.25
18.29
18.33
18.38
18.42
18.46
18.50
18.55

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.91
12.93
12.95
12.97
12.98
13.00
13.02
13.04
13.06
13.07
13.09
13.11
13.12
13.14
13.15
13.17
13.18
13.19
13.20
13.21
13.22
13.22
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.32
13.32
13.32
13.32
13.33
13.33
13.33
13.33
13.34
13.34
13.34
13.34
13.35

1.59
1.73
1.82
1.84
1.71
1.62
1.52
1.32
1.11
0.86
0.62
0.36
0.09
-0.19
-0.46
-0.75
-1.03
-1.30
-1.57
-1.84
-2.10
-2.36
-2.59
-2.80
-2.99
-3.16
-3.31
-3.45
-3.55
-3.63
-3.70
-3.74
-3.78
-3.79
-3.79
-3.80
-3.80
-3.80
-3.80
-3.80
-3.81
-3.82
-3.83
-3.84
-3.86
-3.88
-3.91
-3.95
-3.98
-4.02
-4.06
-4.11
-4.16
-4.20
-4.25
-4.30
-4.34
-4.40
-4.45
-4.51
-4.56
-4.61
-4.66
-4.71
-4.76
-4.80
-4.84
-4.88
-4.92
-4.96
-5.00
-5.04
-5.08
-5.12
-5.16
-5.20

320
337
356
372
385
398
409
417
423
427
429
429
427
424
419
413
405
396
385
374
361
347
332
317
301
284
267
249
231
212
193
174
155
135
115
95
74
53
32
11
-------------------------------------------------------------------------------------------------------------

Income
Rate
13.85%

Actuarial
Balance
-1.58%

Change in
Actuarial
Balance
0.34%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.43%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B1 Financial Estimates for the OASDI Trust Fund Program
Increase the number of years used to calculate benefits for retirees and survivors (but not for
disabled workers) from 35 to 38 phased in 2006-2010
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.94
10.98
11.11
11.22
11.37
11.60
11.85
12.11
12.36
12.64
12.93
13.21
13.51
13.81
14.11
14.40
14.69
14.97
15.25
15.52
15.78
16.00
16.20
16.39
16.56
16.71
16.82
16.91
16.98
17.04
17.08
17.10
17.11
17.11
17.12
17.12
17.12
17.13
17.13
17.15
17.16
17.18
17.20
17.22
17.25
17.29
17.33
17.37
17.42
17.47
17.52
17.57
17.62
17.67
17.72
17.78
17.84
17.90
17.96
18.02
18.08
18.13
18.18
18.23
18.27
18.32
18.36
18.40
18.45
18.49
18.54
18.58
18.62
18.67

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.91
12.93
12.95
12.97
12.99
13.00
13.02
13.04
13.06
13.07
13.09
13.11
13.12
13.14
13.16
13.17
13.18
13.19
13.20
13.21
13.22
13.22
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.25
13.25
13.25
13.26
13.26
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.32
13.32
13.32
13.33
13.33
13.33
13.33
13.34
13.34
13.34
13.34
13.35
13.35
13.35

1.59
1.73
1.80
1.81
1.66
1.57
1.47
1.27
1.05
0.81
0.57
0.31
0.04
-0.23
-0.50
-0.79
-1.07
-1.34
-1.61
-1.88
-2.14
-2.40
-2.64
-2.85
-3.04
-3.21
-3.37
-3.50
-3.61
-3.69
-3.76
-3.81
-3.85
-3.86
-3.87
-3.87
-3.87
-3.88
-3.88
-3.88
-3.89
-3.90
-3.91
-3.92
-3.94
-3.96
-3.99
-4.03
-4.06
-4.10
-4.14
-4.19
-4.24
-4.29
-4.33
-4.38
-4.43
-4.48
-4.54
-4.59
-4.65
-4.70
-4.76
-4.81
-4.86
-4.90
-4.94
-4.99
-5.03
-5.07
-5.11
-5.15
-5.19
-5.23
-5.27
-5.32

320
338
355
371
383
396
406
414
419
423
425
425
423
419
414
407
399
390
379
367
354
340
325
309
293
276
259
240
222
203
184
164
144
124
104
83
62
40
19
----------------------------------------------------------------------------------------------------------------

Income
Rate
13.85%

Actuarial
Balance
-1.64%

Change in
Actuarial
Balance
0.28%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.50%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B2 Financial Estimates for the OASDI Trust Fund Program
Increase the number of years used to calculate benefits for retirees and survivors (but not for
disabled workers) from 35 to 40 phased in 2006-2014
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.94
10.98
11.11
11.22
11.37
11.60
11.84
12.09
12.34
12.60
12.87
13.14
13.42
13.71
13.99
14.27
14.54
14.81
15.08
15.34
15.58
15.80
15.99
16.17
16.33
16.47
16.58
16.66
16.72
16.78
16.81
16.83
16.83
16.83
16.83
16.84
16.84
16.84
16.84
16.86
16.87
16.88
16.90
16.93
16.96
16.99
17.03
17.07
17.11
17.16
17.21
17.27
17.31
17.36
17.42
17.47
17.53
17.59
17.65
17.70
17.76
17.82
17.87
17.91
17.96
18.00
18.05
18.09
18.13
18.17
18.22
18.26
18.30
18.35

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.91
12.93
12.95
12.97
12.98
13.00
13.02
13.03
13.05
13.07
13.08
13.10
13.12
13.13
13.14
13.16
13.17
13.18
13.19
13.20
13.21
13.21
13.22
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.31
13.31
13.32
13.32
13.32
13.32
13.33
13.33
13.33
13.34

1.59
1.73
1.80
1.81
1.66
1.57
1.47
1.27
1.06
0.82
0.59
0.35
0.09
-0.16
-0.42
-0.69
-0.95
-1.22
-1.47
-1.73
-1.98
-2.23
-2.45
-2.65
-2.83
-3.00
-3.15
-3.28
-3.38
-3.45
-3.51
-3.56
-3.59
-3.61
-3.61
-3.61
-3.61
-3.61
-3.61
-3.61
-3.61
-3.62
-3.63
-3.65
-3.66
-3.68
-3.71
-3.75
-3.78
-3.82
-3.86
-3.90
-3.95
-4.00
-4.04
-4.09
-4.14
-4.19
-4.25
-4.30
-4.35
-4.41
-4.46
-4.51
-4.56
-4.60
-4.65
-4.69
-4.73
-4.77
-4.81
-4.85
-4.89
-4.93
-4.97
-5.01

320
338
355
371
383
396
406
414
420
423
426
426
425
422
418
412
405
397
387
377
365
352
338
323
308
292
276
259
241
224
206
188
170
151
132
113
93
74
54
33
13
----------------------------------------------------------------------------------------------------------

Income
Rate
13.84%

Actuarial
Balance
-1.46%

Change in
Actuarial
Balance
0.46%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.31%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B3 Financial Estimates for the OASDI Trust Fund Program
From 2006-2036, multiply the 32 and 15 percent formula factors by 0.987, reducing the factors to 21
percent and 10 percent, respectively, for new eligibles in 2035 and later
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.94
10.97
11.10
11.21
11.35
11.57
11.79
12.03
12.26
12.50
12.74
12.98
13.22
13.47
13.70
13.93
14.15
14.36
14.56
14.76
14.93
15.07
15.19
15.29
15.37
15.43
15.46
15.47
15.45
15.43
15.38
15.33
15.26
15.19
15.12
15.06
15.00
14.95
14.90
14.86
14.82
14.79
14.76
14.75
14.74
14.74
14.74
14.75
14.76
14.78
14.81
14.83
14.86
14.89
14.92
14.96
15.00
15.04
15.08
15.13
15.17
15.21
15.25
15.29
15.33
15.36
15.40
15.43
15.46
15.50
15.53
15.57
15.61
15.64

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.91
12.93
12.94
12.96
12.98
12.99
13.01
13.02
13.04
13.05
13.06
13.08
13.09
13.10
13.11
13.12
13.13
13.14
13.14
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.14
13.14
13.14
13.14
13.14
13.14
13.13
13.13
13.13
13.13
13.14
13.14
13.14
13.14
13.14
13.14
13.14
13.15
13.15
13.15
13.15
13.16
13.16
13.16
13.16
13.17
13.17
13.17
13.18
13.18
13.18
13.18
13.18
13.19
13.19
13.19
13.19
13.20
13.20

1.59
1.73
1.80
1.81
1.67
1.59
1.49
1.30
1.10
0.88
0.67
0.45
0.22
-0.01
-0.23
-0.46
-0.68
-0.89
-1.09
-1.29
-1.48
-1.67
-1.82
-1.96
-2.07
-2.16
-2.24
-2.29
-2.32
-2.32
-2.30
-2.27
-2.23
-2.18
-2.11
-2.04
-1.98
-1.92
-1.86
-1.81
-1.76
-1.72
-1.68
-1.65
-1.63
-1.61
-1.60
-1.60
-1.60
-1.61
-1.62
-1.64
-1.66
-1.69
-1.71
-1.74
-1.77
-1.80
-1.84
-1.88
-1.92
-1.96
-2.01
-2.04
-2.08
-2.11
-2.15
-2.18
-2.21
-2.24
-2.28
-2.31
-2.34
-2.38
-2.41
-2.45

320
338
355
371
384
396
407
415
422
427
430
432
432
431
429
426
422
417
410
403
395
387
377
368
358
348
338
328
318
308
298
288
279
270
261
253
244
236
228
220
212
205
197
189
182
174
166
158
150
141
133
124
115
105
95
85
75
64
53
42
30
18
5
----------------------------------------

Income
Rate
13.79%

Actuarial
Balance
-0.32%

Change in
Actuarial
Balance
1.60%

Summarized Rates: OASDI
2005
-2079

Cost Rate
14.11%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B4 Financial Estimates for the OASDI Trust Fund Program
Reduce benefits across the board by 3 percent for those newly eligible for benefits in 2006 and later
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
10.99
10.93
10.96
11.08
11.18
11.33
11.55
11.79
12.04
12.30
12.57
12.85
13.14
13.43
13.73
14.02
14.31
14.59
14.88
15.15
15.42
15.67
15.90
16.10
16.28
16.45
16.60
16.71
16.80
16.87
16.93
16.97
16.99
17.00
17.00
17.01
17.01
17.02
17.02
17.03
17.04
17.06
17.07
17.09
17.12
17.15
17.18
17.22
17.27
17.31
17.36
17.41
17.46
17.51
17.56
17.62
17.67
17.73
17.79
17.85
17.91
17.96
18.02
18.07
18.12
18.16
18.21
18.25
18.29
18.33
18.38
18.42
18.46
18.51
18.55

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.91
12.93
12.95
12.97
12.98
13.00
13.02
13.04
13.06
13.07
13.09
13.10
13.12
13.14
13.15
13.16
13.18
13.19
13.20
13.21
13.21
13.22
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.32
13.32
13.32
13.32
13.33
13.33
13.33
13.34
13.34
13.34
13.34
13.35
13.35

1.59
1.74
1.81
1.83
1.69
1.61
1.51
1.32
1.11
0.87
0.63
0.38
0.11
-0.15
-0.42
-0.71
-0.98
-1.26
-1.52
-1.79
-2.05
-2.30
-2.54
-2.75
-2.93
-3.10
-3.26
-3.40
-3.51
-3.59
-3.65
-3.70
-3.74
-3.76
-3.76
-3.77
-3.77
-3.77
-3.77
-3.78
-3.78
-3.79
-3.81
-3.82
-3.84
-3.86
-3.89
-3.93
-3.96
-4.00
-4.04
-4.09
-4.14
-4.18
-4.23
-4.28
-4.33
-4.38
-4.43
-4.49
-4.54
-4.60
-4.65
-4.70
-4.75
-4.79
-4.84
-4.88
-4.92
-4.96
-5.00
-5.04
-5.08
-5.12
-5.16
-5.20

320
338
356
371
385
398
409
417
423
427
430
430
428
425
421
415
407
398
388
377
365
351
336
321
305
289
272
254
237
218
200
181
162
142
123
102
82
61
40
19
-------------------------------------------------------------------------------------------------------------

Income
Rate
13.85%

Actuarial
Balance
-1.56%

Change in
Actuarial
Balance
0.37%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.41%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B5 Financial Estimates for the OASDI Trust Fund Program
Reduce benefits across the board by 5 percent for those newly eligible for benefits in 2006 and later
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
10.99
10.92
10.93
11.04
11.13
11.26
11.47
11.69
11.93
12.17
12.43
12.69
12.96
13.24
13.53
13.81
14.08
14.36
14.62
14.89
15.15
15.39
15.61
15.80
15.97
16.14
16.28
16.39
16.47
16.54
16.59
16.63
16.65
16.65
16.66
16.66
16.67
16.67
16.67
16.68
16.69
16.71
16.72
16.74
16.77
16.80
16.83
16.87
16.91
16.95
17.00
17.05
17.10
17.15
17.20
17.25
17.31
17.37
17.42
17.48
17.54
17.59
17.65
17.70
17.74
17.79
17.83
17.87
17.91
17.95
18.00
18.04
18.08
18.13
18.17

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.89
12.91
12.92
12.94
12.96
12.98
12.99
13.01
13.03
13.04
13.06
13.08
13.09
13.11
13.12
13.14
13.15
13.16
13.17
13.18
13.19
13.20
13.20
13.21
13.21
13.22
13.22
13.22
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.31
13.31
13.32
13.32
13.32
13.32
13.33
13.33

1.59
1.74
1.82
1.85
1.73
1.66
1.57
1.40
1.20
0.98
0.76
0.52
0.27
0.01
-0.25
-0.51
-0.78
-1.04
-1.29
-1.55
-1.80
-2.04
-2.27
-2.47
-2.65
-2.81
-2.96
-3.09
-3.19
-3.27
-3.33
-3.38
-3.42
-3.43
-3.44
-3.44
-3.44
-3.44
-3.45
-3.45
-3.45
-3.46
-3.48
-3.49
-3.51
-3.53
-3.56
-3.59
-3.63
-3.66
-3.70
-3.75
-3.80
-3.84
-3.89
-3.93
-3.98
-4.03
-4.09
-4.14
-4.19
-4.25
-4.30
-4.35
-4.40
-4.44
-4.48
-4.52
-4.56
-4.60
-4.64
-4.68
-4.72
-4.76
-4.80
-4.84

320
338
356
372
386
400
412
421
429
434
438
440
440
438
435
430
424
417
408
398
387
375
362
349
335
320
305
289
273
256
240
223
206
188
171
153
135
116
98
79
60
40
20
----------------------------------------------------------------------------------------------------

Income
Rate
13.84%

Actuarial
Balance
-1.31%

Change in
Actuarial
Balance
0.61%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.15%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B6 Financial Estimates for the OASDI Trust Fund Program
Reduce PIA formula factors by real wage growth (i.e., "CPI-index" the formula factors), for those
newly eligible for OASDI benefits in 2012 and later
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.92
12.19
12.44
12.70
12.97
13.22
13.47
13.72
13.96
14.18
14.39
14.59
14.79
14.96
15.11
15.23
15.32
15.40
15.45
15.47
15.46
15.43
15.37
15.30
15.21
15.10
14.98
14.85
14.72
14.59
14.45
14.31
14.18
14.04
13.91
13.78
13.66
13.53
13.42
13.30
13.19
13.08
12.98
12.88
12.78
12.68
12.58
12.49
12.40
12.31
12.22
12.13
12.05
11.96
11.88
11.79
11.70
11.61
11.52
11.43
11.34
11.25
11.16
11.07
10.99
10.90
10.81
10.72

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.95
12.97
12.99
13.00
13.02
13.04
13.05
13.06
13.08
13.09
13.10
13.11
13.12
13.13
13.14
13.14
13.15
13.15
13.15
13.15
13.15
13.15
13.14
13.14
13.13
13.13
13.12
13.12
13.11
13.11
13.10
13.09
13.09
13.08
13.08
13.07
13.07
13.06
13.06
13.05
13.05
13.04
13.04
13.04
13.03
13.03
13.02
13.02
13.02
13.01
13.01
13.00
13.00
13.00
12.99
12.99
12.98
12.98
12.98
12.97
12.97
12.96
12.96
12.95
12.95

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.21
0.98
0.73
0.50
0.25
0.00
-0.23
-0.47
-0.70
-0.92
-1.13
-1.33
-1.52
-1.70
-1.86
-2.00
-2.11
-2.19
-2.26
-2.30
-2.33
-2.32
-2.28
-2.22
-2.15
-2.07
-1.96
-1.84
-1.72
-1.59
-1.46
-1.33
-1.20
-1.07
-0.94
-0.82
-0.69
-0.57
-0.46
-0.34
-0.23
-0.13
-0.02
0.08
0.17
0.27
0.36
0.45
0.54
0.63
0.72
0.80
0.88
0.97
1.05
1.13
1.21
1.29
1.38
1.47
1.55
1.64
1.72
1.81
1.89
1.98
2.06
2.14
2.23

320
337
355
370
383
394
404
410
415
418
419
419
418
415
411
406
400
394
386
378
369
360
350
339
329
319
309
298
288
278
269
260
252
244
237
230
225
219
215
211
208
206
204
204
204
205
207
209
213
217
222
228
235
243
251
261
272
283
296
309
324
340
356
374
394
414
436
460
484
511
539
568
600
633
667
704

Income
Rate
13.75%

Actuarial
Balance
0.45%

Change in
Actuarial
Balance
2.38%

Summarized Rates: OASDI
2005
-2079

Cost Rate
13.29%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B7 Financial Estimates for the OASDI Trust Fund Program
Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in
2012. Create new bend point at the 30th percentile of earners. Maintain current-law benefits for earners at the
30th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit
grows by inflation rather than the growth in average wages.
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Rate Balance
Cost Rate
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.20
12.46
12.73
13.01
13.29
13.56
13.83
14.10
14.35
14.59
14.83
15.06
15.28
15.47
15.64
15.78
15.90
16.00
16.07
16.12
16.13
16.13
16.11
16.08
16.02
15.96
15.88
15.81
15.73
15.66
15.58
15.51
15.44
15.37
15.30
15.23
15.18
15.12
15.07
15.03
14.98
14.94
14.90
14.87
14.84
14.80
14.77
14.74
14.71
14.69
14.66
14.64
14.61
14.59
14.56
14.53
14.50
14.47
14.44
14.40
14.37
14.33
14.30
14.27
14.24
14.21
14.18

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.95
12.97
12.99
13.01
13.02
13.04
13.06
13.07
13.09
13.10
13.11
13.13
13.14
13.15
13.16
13.17
13.17
13.18
13.18
13.18
13.19
13.19
13.18
13.18
13.18
13.18
13.18
13.17
13.17
13.17
13.16
13.16
13.16
13.16
13.16
13.15
13.15
13.15
13.15
13.15
13.15
13.15
13.14
13.14
13.14
13.14
13.14
13.14
13.14
13.14
13.14
13.14
13.14
13.14
13.13
13.13
13.13
13.13
13.13
13.13
13.13
13.12
13.12
13.12
13.12

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.21
0.98
0.72
0.48
0.22
-0.04
-0.30
-0.55
-0.81
-1.05
-1.29
-1.52
-1.74
-1.96
-2.17
-2.35
-2.50
-2.63
-2.74
-2.83
-2.90
-2.94
-2.95
-2.95
-2.93
-2.89
-2.84
-2.77
-2.70
-2.63
-2.56
-2.48
-2.41
-2.34
-2.27
-2.20
-2.14
-2.08
-2.02
-1.97
-1.92
-1.88
-1.83
-1.79
-1.76
-1.73
-1.69
-1.66
-1.63
-1.60
-1.57
-1.55
-1.52
-1.50
-1.48
-1.45
-1.43
-1.40
-1.37
-1.34
-1.31
-1.27
-1.24
-1.21
-1.18
-1.15
-1.12
-1.09
-1.06

320
337
355
370
383
394
404
410
415
418
419
418
416
412
407
401
394
386
377
366
355
343
331
317
304
290
276
262
247
233
219
204
190
176
161
147
133
120
106
92
79
65
52
39
26
13
-------------------------------------------------------------------------------------------

Income
Rate
13.80%

Actuarial
Balance
-0.50%

Change in
Actuarial
Balance
1.43%

Summarized Rates: OASDI
2005
-2079

Cost Rate
14.29%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B8 Financial Estimates for the OASDI Trust Fund Program
Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in
2012. Create new bend point at the 40th percentile of earners. Maintain current-law benefits for earners at the
40th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit
grows by inflation rather than the growth in average wages.
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Rate Balance
Cost Rate
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.20
12.46
12.74
13.02
13.30
13.58
13.86
14.13
14.39
14.64
14.89
15.13
15.36
15.56
15.74
15.89
16.02
16.13
16.22
16.28
16.30
16.31
16.31
16.28
16.24
16.19
16.13
16.06
16.00
15.94
15.87
15.81
15.76
15.70
15.65
15.60
15.55
15.51
15.48
15.45
15.42
15.39
15.37
15.35
15.33
15.31
15.29
15.27
15.26
15.25
15.24
15.22
15.21
15.20
15.19
15.17
15.15
15.13
15.11
15.09
15.07
15.05
15.03
15.01
14.99
14.98
14.96

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.97
12.99
13.01
13.03
13.04
13.06
13.07
13.09
13.10
13.12
13.13
13.14
13.15
13.16
13.17
13.18
13.19
13.19
13.19
13.19
13.20
13.20
13.19
13.19
13.19
13.19
13.19
13.18
13.18
13.18
13.18
13.18
13.18
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.17
13.16
13.16
13.16
13.16
13.16
13.16
13.16
13.16

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.21
0.98
0.72
0.47
0.21
-0.05
-0.31
-0.57
-0.83
-1.09
-1.33
-1.57
-1.80
-2.02
-2.24
-2.43
-2.59
-2.73
-2.85
-2.96
-3.04
-3.09
-3.11
-3.12
-3.11
-3.09
-3.05
-2.99
-2.93
-2.87
-2.81
-2.75
-2.69
-2.63
-2.58
-2.52
-2.47
-2.42
-2.38
-2.34
-2.31
-2.28
-2.25
-2.22
-2.20
-2.18
-2.16
-2.14
-2.12
-2.10
-2.09
-2.08
-2.07
-2.06
-2.05
-2.04
-2.02
-2.01
-1.99
-1.97
-1.95
-1.93
-1.91
-1.89
-1.87
-1.85
-1.83
-1.81
-1.80

320
337
355
370
383
394
404
410
415
418
419
418
415
411
406
400
393
384
374
364
352
339
326
312
298
284
269
254
238
223
207
192
176
160
145
129
114
98
82
67
51
36
20
5
-------------------------------------------------------------------------------------------------

Income
Rate
13.81%

Actuarial
Balance
-0.72%

Change in
Actuarial
Balance
1.21%

Summarized Rates: OASDI
2005
-2079

Cost Rate
14.52%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B9 Financial Estimates for the OASDI Trust Fund Program
Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in
2012. Create new bend point at the 50th percentile of earners. Maintain current-law benefits for earners at the
50th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit
grows by inflation rather than the growth in average wages.
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Rate Balance
Cost Rate
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.20
12.47
12.75
13.03
13.32
13.60
13.89
14.16
14.44
14.70
14.95
15.20
15.44
15.66
15.84
16.00
16.15
16.27
16.37
16.44
16.48
16.51
16.51
16.50
16.47
16.43
16.38
16.34
16.29
16.24
16.19
16.14
16.10
16.06
16.02
15.98
15.95
15.93
15.91
15.89
15.87
15.86
15.85
15.85
15.84
15.84
15.83
15.83
15.83
15.83
15.84
15.84
15.85
15.86
15.87
15.87
15.88
15.88
15.89
15.90
15.91
15.92
15.94
15.95
15.97
15.99
16.01

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.97
12.99
13.01
13.03
13.04
13.06
13.08
13.09
13.11
13.12
13.14
13.15
13.16
13.17
13.18
13.19
13.19
13.20
13.20
13.20
13.21
13.21
13.21
13.21
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.19
13.19
13.19
13.19
13.19
13.19
13.19
13.19
13.19
13.19
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.20
13.21
13.21
13.21
13.21
13.21
13.21
13.21
13.21
13.21

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.21
0.98
0.72
0.47
0.21
-0.06
-0.33
-0.59
-0.86
-1.12
-1.38
-1.62
-1.86
-2.09
-2.32
-2.52
-2.69
-2.84
-2.98
-3.09
-3.19
-3.25
-3.29
-3.30
-3.31
-3.30
-3.27
-3.22
-3.18
-3.13
-3.09
-3.04
-2.99
-2.94
-2.90
-2.86
-2.82
-2.79
-2.76
-2.73
-2.71
-2.70
-2.68
-2.67
-2.66
-2.65
-2.65
-2.64
-2.64
-2.63
-2.63
-2.63
-2.64
-2.64
-2.65
-2.66
-2.66
-2.67
-2.67
-2.68
-2.69
-2.70
-2.70
-2.72
-2.73
-2.74
-2.76
-2.78
-2.80

320
337
355
370
383
394
404
410
415
418
418
417
415
411
405
399
391
382
372
361
348
335
321
307
292
277
261
245
228
212
195
178
161
144
127
110
93
76
58
41
23
5
-------------------------------------------------------------------------------------------------------

Income
Rate
13.82%

Actuarial
Balance
-0.96%

Change in
Actuarial
Balance
0.97%

Summarized Rates: OASDI
2005
-2079

Cost Rate
14.77%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table B10 Financial Estimates for the OASDI Trust Fund Program
Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in
2012. Create new bend point at the 60th percentile of earners. Maintain current-law benefits for earners at the
60th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit
grows by inflation rather than the growth in average wages.
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Rate Balance
Cost Rate
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.20
12.47
12.76
13.05
13.34
13.62
13.92
14.21
14.48
14.75
15.02
15.28
15.53
15.76
15.96
16.13
16.29
16.43
16.54
16.63
16.68
16.72
16.74
16.74
16.73
16.70
16.66
16.63
16.60
16.56
16.52
16.49
16.46
16.44
16.41
16.39
16.38
16.37
16.37
16.37
16.37
16.38
16.40
16.41
16.44
16.46
16.48
16.51
16.54
16.58
16.62
16.65
16.70
16.74
16.77
16.81
16.84
16.88
16.91
16.94
16.98
17.01
17.05
17.08
17.12
17.16
17.20

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.97
12.99
13.01
13.03
13.05
13.06
13.08
13.09
13.11
13.13
13.14
13.15
13.17
13.18
13.19
13.20
13.20
13.21
13.21
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.25
13.26
13.26
13.26
13.26
13.26
13.27
13.27
13.27
13.27
13.28

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.21
0.97
0.72
0.47
0.20
-0.07
-0.34
-0.61
-0.89
-1.16
-1.42
-1.68
-1.93
-2.17
-2.41
-2.62
-2.81
-2.97
-3.11
-3.24
-3.35
-3.42
-3.47
-3.50
-3.52
-3.52
-3.51
-3.48
-3.44
-3.41
-3.38
-3.34
-3.31
-3.28
-3.25
-3.22
-3.20
-3.18
-3.16
-3.15
-3.15
-3.15
-3.15
-3.16
-3.17
-3.19
-3.21
-3.23
-3.25
-3.28
-3.31
-3.34
-3.38
-3.41
-3.45
-3.49
-3.53
-3.56
-3.59
-3.62
-3.65
-3.68
-3.71
-3.75
-3.78
-3.81
-3.85
-3.88
-3.92

320
337
355
370
383
394
404
410
415
417
418
417
414
410
404
397
389
380
369
357
345
331
316
301
285
269
252
235
218
200
182
164
146
127
109
90
71
52
33
13
-------------------------------------------------------------------------------------------------------------

Income
Rate
13.83%

Actuarial
Balance
-1.24%

Change in
Actuarial
Balance
0.68%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.07%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table C1 Financial Estimates for the OASDI Trust Fund Program
Eliminate the hiatus in the normal retirement age (speed up the increase to age 67)
OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
11.00
10.94
10.95
11.06
11.14
11.27
11.47
11.69
11.93
12.18
12.42
12.70
12.99
13.29
13.60
13.93
14.25
14.57
14.89
15.20
15.52
15.81
16.07
16.30
16.51
16.70
16.87
17.01
17.11
17.20
17.28
17.33
17.37
17.39
17.41
17.43
17.44
17.46
17.47
17.49
17.52
17.54
17.57
17.59
17.62
17.66
17.70
17.75
17.79
17.84
17.89
17.95
18.00
18.05
18.10
18.16
18.22
18.28
18.34
18.40
18.46
18.52
18.57
18.63
18.67
18.72
18.77
18.81
18.85
18.90
18.94
18.99
19.03
19.08
19.12

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.86
12.89
12.90
12.92
12.94
12.95
12.97
12.99
13.01
13.03
13.05
13.07
13.09
13.11
13.12
13.14
13.16
13.17
13.19
13.20
13.21
13.22
13.23
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.26
13.26
13.27
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.29
13.29
13.30
13.30
13.31
13.31
13.31
13.32
13.32
13.32
13.33
13.33
13.34
13.34
13.34
13.35
13.35
13.35
13.36
13.36
13.36
13.36
13.37
13.37
13.37
13.37
13.38

1.59
1.73
1.80
1.83
1.71
1.65
1.57
1.39
1.20
0.97
0.75
0.52
0.26
-0.02
-0.30
-0.59
-0.90
-1.20
-1.50
-1.80
-2.10
-2.39
-2.67
-2.91
-3.12
-3.32
-3.50
-3.66
-3.78
-3.88
-3.97
-4.03
-4.08
-4.12
-4.14
-4.15
-4.17
-4.18
-4.20
-4.21
-4.23
-4.25
-4.27
-4.29
-4.32
-4.35
-4.38
-4.42
-4.46
-4.50
-4.54
-4.59
-4.64
-4.69
-4.74
-4.79
-4.84
-4.90
-4.95
-5.01
-5.07
-5.12
-5.18
-5.23
-5.28
-5.32
-5.37
-5.41
-5.45
-5.49
-5.53
-5.58
-5.62
-5.66
-5.70
-5.75

320
338
355
371
385
399
411
420
428
433
437
439
438
436
432
426
418
409
398
386
373
358
342
325
308
291
272
253
234
214
194
174
153
131
110
88
66
43
20
----------------------------------------------------------------------------------------------------------------

Income
Rate
13.86%

Actuarial
Balance
-1.78%

Change in
Actuarial
Balance
0.14%

Summarized Rates: OASDI
2005
-2079

(in billions of dollars)

Trust Fund
Income Annual
Ratio
Cost Rate
Rate Balance
1-1-year

Cost Rate
15.64%

Based on Intermediate Assumptions of the 2005 Trustees Report.

Proposed Plan Present Law
4,730
4,985
5,244
5,512
5,785
6,068
6,358
6,650
6,951
7,264
7,590
7,927
8,276
8,638
9,013
9,399
9,800
10,214
10,644
11,088
11,547
12,025
12,528
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Increase in
Taxable
Payroll over
Present Law

4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Office of the Chief Actuary
Social Security Administration
August 8, 2005

0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%

Table C2 Financial Estimates for the OASDI Trust Fund Program
Eliminate the hiatus in the normal retirement age (speed up the increase to age 67) and index the
NRA by 1 month every 2 years until the NRA reaches age 68
OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
11.00
10.93
10.95
11.05
11.14
11.27
11.48
11.69
11.93
12.15
12.38
12.63
12.91
13.19
13.49
13.80
14.10
14.40
14.70
14.99
15.28
15.54
15.77
15.98
16.16
16.33
16.47
16.58
16.66
16.72
16.78
16.82
16.83
16.83
16.83
16.83
16.83
16.83
16.83
16.83
16.84
16.86
16.87
16.88
16.91
16.93
16.96
17.00
17.03
17.08
17.12
17.17
17.22
17.27
17.32
17.37
17.42
17.48
17.54
17.59
17.65
17.70
17.75
17.80
17.85
17.90
17.94
17.99
18.03
18.07
18.13
18.18
18.22
18.27
18.29

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.86
12.89
12.90
12.92
12.94
12.95
12.97
12.99
13.00
13.02
13.04
13.06
13.08
13.09
13.11
13.13
13.14
13.16
13.17
13.18
13.19
13.20
13.20
13.21
13.21
13.22
13.22
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.30
13.30
13.30
13.30
13.31
13.31
13.31
13.31
13.32
13.32
13.32
13.33
13.33

1.59
1.73
1.81
1.84
1.72
1.65
1.57
1.39
1.20
0.98
0.77
0.56
0.32
0.06
-0.20
-0.48
-0.77
-1.06
-1.34
-1.62
-1.89
-2.17
-2.41
-2.63
-2.82
-2.99
-3.15
-3.28
-3.38
-3.45
-3.52
-3.57
-3.60
-3.61
-3.61
-3.61
-3.60
-3.60
-3.60
-3.60
-3.60
-3.61
-3.62
-3.63
-3.65
-3.67
-3.69
-3.72
-3.75
-3.79
-3.83
-3.87
-3.91
-3.96
-4.00
-4.05
-4.10
-4.15
-4.20
-4.26
-4.31
-4.36
-4.41
-4.46
-4.50
-4.55
-4.59
-4.64
-4.68
-4.72
-4.76
-4.81
-4.86
-4.90
-4.94
-4.96

320
337
355
372
386
399
411
420
428
433
437
440
441
440
437
432
425
417
408
397
385
372
357
343
327
312
295
279
262
244
227
209
191
172
154
135
116
96
77
57
36
16
-------------------------------------------------------------------------------------------------------

Income
Rate
13.84%

Actuarial
Balance
-1.40%

Change in
Actuarial
Balance
0.52%

Summarized Rates: OASDI
2005
-2079

(in billions of dollars)

Trust Fund
Income Annual
Ratio
Rate Balance
Cost Rate
1-1-year

Cost Rate
15.24%

Based on Intermediate Assumptions of the 2005 Trustees Report.

Proposed Plan Present Law
4,730
4,985
5,244
5,512
5,785
6,068
6,358
6,650
6,952
7,265
7,591
7,927
8,277
8,639
9,015
9,401
9,803
10,217
10,648
11,093
11,553
12,032
12,536
13,063
13,609
14,176
14,770
15,393
16,047
16,728
17,434
18,170
18,941
19,747
20,588
21,463
22,374
23,325
24,316
25,346
26,412
27,519
28,672
29,872
31,117
32,408
33,754
35,157
36,617
38,141
39,724
41,368
43,082
44,865
46,720
48,652
50,659
52,755
54,941
57,216
59,582
62,031
64,580
67,256
70,045
72,945
75,962
79,099
82,369
85,775
89,314
92,997
96,829
100,817
104,969
109,291

Increase in
Taxable
Payroll over
Present Law

4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Office of the Chief Actuary
Social Security Administration
August 8, 2005

0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%

Table C3 Financial Estimates for the OASDI Trust Fund Program
Eliminate the hiatus in the normal retirement age (speed up the increase to age 67) and index the
NRA by 1 month every 2 years until the NRA reaches age 70
OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
11.00
10.93
10.95
11.05
11.14
11.27
11.48
11.69
11.93
12.16
12.38
12.64
12.91
13.19
13.49
13.79
14.09
14.39
14.68
14.98
15.27
15.54
15.77
15.98
16.16
16.33
16.47
16.58
16.66
16.73
16.78
16.82
16.83
16.82
16.81
16.79
16.76
16.74
16.72
16.71
16.70
16.70
16.69
16.68
16.68
16.69
16.69
16.70
16.72
16.73
16.75
16.77
16.80
16.82
16.84
16.88
16.92
16.94
16.96
16.97
16.96
16.96
16.97
16.99
17.03
17.06
17.10
17.13
17.17
17.21
17.25
17.28
17.31
17.36
17.39

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.86
12.89
12.90
12.92
12.94
12.95
12.97
12.99
13.00
13.02
13.04
13.06
13.08
13.09
13.11
13.13
13.14
13.16
13.17
13.18
13.19
13.20
13.20
13.21
13.21
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.25
13.25
13.25
13.25
13.25
13.26
13.26
13.26
13.26
13.26
13.27
13.27
13.27
13.27

1.59
1.73
1.81
1.84
1.72
1.65
1.57
1.39
1.20
0.98
0.76
0.55
0.31
0.06
-0.21
-0.48
-0.77
-1.05
-1.33
-1.61
-1.88
-2.16
-2.41
-2.63
-2.82
-3.00
-3.15
-3.28
-3.38
-3.46
-3.52
-3.57
-3.60
-3.61
-3.60
-3.59
-3.56
-3.54
-3.52
-3.50
-3.49
-3.48
-3.47
-3.47
-3.46
-3.46
-3.46
-3.47
-3.48
-3.49
-3.50
-3.52
-3.54
-3.56
-3.58
-3.60
-3.64
-3.67
-3.70
-3.71
-3.73
-3.71
-3.71
-3.72
-3.74
-3.78
-3.81
-3.84
-3.88
-3.91
-3.94
-3.98
-4.01
-4.04
-4.09
-4.12

320
337
355
372
386
399
411
420
428
433
437
440
441
439
437
432
425
417
408
397
385
372
358
343
328
312
296
279
262
244
227
209
191
172
154
135
116
97
78
58
39
18
-------------------------------------------------------------------------------------------------------

Income
Rate
13.83%

Actuarial
Balance
-1.24%

Change in
Actuarial
Balance
0.69%

Summarized Rates: OASDI
2005
-2079

(in billions of dollars)

Trust Fund
Income Annual
Ratio
Cost Rate
Rate Balance
1-1-year

Cost Rate
15.06%

Based on Intermediate Assumptions of the 2005 Trustees Report.

Proposed Plan Present Law
4,730
4,985
5,244
5,512
5,785
6,068
6,358
6,650
6,952
7,265
7,591
7,927
8,277
8,639
9,015
9,401
9,803
10,217
10,648
11,093
11,553
12,032
12,536
13,063
13,609
14,176
14,770
15,393
16,047
16,728
17,434
18,170
18,941
19,746
20,588
21,464
22,376
23,327
24,320
25,351
26,418
27,526
28,680
29,883
31,129
32,422
33,771
35,175
36,638
38,165
39,751
41,398
43,115
44,902
46,761
48,696
50,706
52,806
54,996
57,275
59,648
62,103
64,660
67,341
70,137
73,043
76,065
79,208
82,485
85,898
89,444
93,135
96,974
100,970
105,131
109,460

Increase in
Taxable
Payroll over
Present Law

4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Office of the Chief Actuary
Social Security Administration
August 8, 2005

0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.2%
0.3%
0.3%
0.3%
0.3%
0.3%
0.3%

Table D1 Financial Estimates for the OASDI Trust Fund Program
Raise the combined employer/employee tax rate by 2.0 percentage points in 2006 and later
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.94
10.98
11.12
11.25
11.42
11.66
11.93
12.21
12.48
12.78
13.09
13.39
13.70
14.02
14.34
14.65
14.95
15.25
15.54
15.83
16.09
16.33
16.54
16.74
16.92
17.07
17.20
17.29
17.37
17.43
17.47
17.50
17.51
17.51
17.52
17.53
17.53
17.54
17.54
17.56
17.57
17.59
17.61
17.64
17.67
17.71
17.75
17.79
17.84
17.89
17.94
18.00
18.05
18.10
18.15
18.21
18.27
18.33
18.39
18.45
18.51
18.57
18.62
18.67
18.72
18.76
18.81
18.85
18.89
18.94
18.98
19.03
19.07
19.12

12.72
14.73
14.74
14.78
14.77
14.79
14.84
14.87
14.90
14.92
14.94
14.96
14.98
15.00
15.01
15.03
15.05
15.07
15.09
15.11
15.12
15.14
15.16
15.17
15.19
15.20
15.21
15.22
15.23
15.24
15.24
15.25
15.25
15.26
15.26
15.26
15.26
15.27
15.27
15.27
15.27
15.27
15.27
15.28
15.28
15.28
15.28
15.29
15.29
15.29
15.30
15.30
15.30
15.31
15.31
15.31
15.32
15.32
15.32
15.33
15.33
15.34
15.34
15.34
15.35
15.35
15.35
15.36
15.36
15.36
15.36
15.37
15.37
15.37
15.37
15.38

1.59
3.73
3.80
3.80
3.65
3.55
3.43
3.21
2.98
2.71
2.45
2.18
1.89
1.60
1.31
1.01
0.71
0.42
0.14
-0.14
-0.42
-0.69
-0.94
-1.16
-1.36
-1.54
-1.71
-1.85
-1.97
-2.05
-2.12
-2.18
-2.22
-2.24
-2.25
-2.25
-2.26
-2.26
-2.26
-2.27
-2.27
-2.29
-2.30
-2.32
-2.33
-2.36
-2.39
-2.42
-2.46
-2.50
-2.54
-2.59
-2.64
-2.69
-2.74
-2.79
-2.84
-2.89
-2.95
-3.01
-3.06
-3.12
-3.17
-3.23
-3.27
-3.32
-3.36
-3.41
-3.45
-3.49
-3.53
-3.57
-3.61
-3.66
-3.70
-3.74

320
337
372
405
435
463
490
512
532
548
563
575
585
593
599
603
606
607
607
606
603
599
595
590
585
580
574
568
562
556
551
545
540
535
531
526
521
517
512
507
502
497
491
486
480
474
468
462
455
447
440
431
423
414
405
396
386
376
365
354
343
331
319
306
293
280
266
252
238
223
208
193
177
160
144
127

Income
Rate
15.82%

Actuarial
Balance
0.04%

Change in
Actuarial
Balance
1.96%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.79%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table D2 Financial Estimates for the OASDI Trust Fund Program
Raise the combined employer/employee tax rate by 2.1 percentage points in 2020-2049 and by an
additional 2.1 percentage points beginning in 2050
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.21
12.49
12.79
13.09
13.40
13.71
14.03
14.34
14.65
14.95
15.25
15.54
15.83
16.09
16.33
16.54
16.74
16.92
17.07
17.20
17.29
17.37
17.43
17.47
17.50
17.51
17.51
17.52
17.53
17.53
17.54
17.54
17.56
17.57
17.59
17.61
17.64
17.67
17.71
17.75
17.79
17.83
17.89
17.94
17.99
18.04
18.10
18.15
18.21
18.27
18.33
18.39
18.45
18.51
18.56
18.62
18.67
18.71
18.76
18.80
18.85
18.89
18.93
18.98
19.02
19.07
19.12

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.98
13.00
13.01
13.03
15.15
15.17
15.19
15.21
15.22
15.24
15.26
15.27
15.29
15.30
15.31
15.32
15.33
15.34
15.34
15.35
15.35
15.36
15.36
15.36
15.36
15.37
15.37
15.37
15.37
15.37
15.37
15.38
15.38
15.38
17.48
17.49
17.49
17.49
17.50
17.50
17.50
17.51
17.51
17.51
17.52
17.52
17.52
17.53
17.53
17.54
17.54
17.54
17.55
17.55
17.55
17.56
17.56
17.56
17.56
17.57
17.57
17.57
17.57
17.58

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.20
0.97
0.71
0.45
0.17
-0.12
-0.40
-0.69
-1.00
0.81
0.52
0.24
-0.04
-0.32
-0.59
-0.84
-1.06
-1.26
-1.44
-1.61
-1.75
-1.87
-1.95
-2.02
-2.08
-2.12
-2.14
-2.15
-2.15
-2.16
-2.16
-2.16
-2.17
-2.17
-2.19
-2.20
-2.22
-2.23
-2.26
-0.19
-0.22
-0.26
-0.30
-0.34
-0.39
-0.44
-0.49
-0.53
-0.58
-0.63
-0.69
-0.74
-0.80
-0.86
-0.91
-0.97
-1.02
-1.07
-1.11
-1.16
-1.20
-1.24
-1.28
-1.33
-1.37
-1.41
-1.45
-1.49
-1.54

320
337
355
370
383
394
404
410
415
417
418
416
412
407
401
393
383
385
387
387
386
383
379
374
369
363
357
350
343
336
328
321
313
306
298
290
283
275
267
259
250
242
233
224
215
206
196
197
199
200
201
202
203
203
203
203
202
202
200
199
197
195
193
191
188
185
181
178
174
170
165
161
156
151
145
140

Income
Rate
15.84%

Actuarial
Balance
0.05%

Change in
Actuarial
Balance
1.98%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.79%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table D3 Financial Estimates for the OASDI Trust Fund Program
Tax Social Security benefits in a manner similar to private pension income beginning in 2006. Phase
out the lower-income thresholds during 2006-2015
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Cost Rate
Rate Balance
11.13
11.00
10.95
10.99
11.12
11.25
11.42
11.67
11.93
12.21
12.49
12.78
13.09
13.40
13.71
14.03
14.34
14.65
14.95
15.25
15.54
15.83
16.10
16.33
16.55
16.74
16.92
17.08
17.20
17.30
17.37
17.43
17.48
17.50
17.51
17.52
17.52
17.53
17.53
17.54
17.55
17.56
17.58
17.60
17.62
17.64
17.68
17.71
17.75
17.80
17.84
17.89
17.95
18.00
18.05
18.10
18.16
18.22
18.28
18.34
18.40
18.46
18.52
18.57
18.63
18.67
18.72
18.77
18.81
18.85
18.90
18.94
18.99
19.03
19.08
19.12

12.72
12.81
12.86
12.94
12.97
13.04
13.19
13.27
13.34
13.38
13.41
13.43
13.45
13.46
13.48
13.49
13.51
13.52
13.53
13.54
13.56
13.57
13.58
13.58
13.59
13.59
13.59
13.59
13.59
13.59
13.59
13.58
13.58
13.57
13.56
13.56
13.55
13.55
13.55
13.55
13.55
13.56
13.56
13.56
13.57
13.57
13.57
13.57
13.58
13.58
13.58
13.59
13.59
13.59
13.59
13.60
13.60
13.60
13.60
13.60
13.61
13.61
13.61
13.62
13.62
13.62
13.62
13.62
13.62
13.63
13.63
13.63
13.64
13.64
13.64
13.65

1.59
1.81
1.91
1.96
1.85
1.79
1.77
1.60
1.41
1.17
0.93
0.65
0.36
0.07
-0.23
-0.53
-0.83
-1.13
-1.42
-1.70
-1.99
-2.27
-2.52
-2.75
-2.96
-3.15
-3.33
-3.48
-3.61
-3.70
-3.79
-3.85
-3.90
-3.93
-3.95
-3.96
-3.97
-3.98
-3.98
-3.99
-3.99
-4.00
-4.02
-4.03
-4.05
-4.07
-4.11
-4.14
-4.18
-4.22
-4.26
-4.31
-4.36
-4.41
-4.46
-4.51
-4.56
-4.62
-4.68
-4.74
-4.79
-4.85
-4.91
-4.96
-5.01
-5.06
-5.10
-5.15
-5.19
-5.23
-5.27
-5.31
-5.35
-5.39
-5.43
-5.48

320
337
356
372
386
399
411
420
428
434
438
439
439
437
434
429
422
414
404
394
382
369
354
340
324
308
291
274
256
238
220
201
182
162
143
123
102
81
60
38
16
----------------------------------------------------------------------------------------------------------

Income
Rate
14.20%

Actuarial
Balance
-1.60%

Change in
Actuarial
Balance
0.33%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.79%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table E1

Financial Estimates for the OASDI Trust Fund Program

Eliminate the taxable maximum, beginning in 2006, for payroll tax but retain the taxable maximum for
benefit calculations
OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
9.35
9.29
9.32
9.42
9.52
9.66
9.85
10.07
10.30
10.53
10.78
11.04
11.30
11.56
11.83
12.09
12.35
12.60
12.85
13.10
13.34
13.57
13.76
13.94
14.11
14.26
14.39
14.49
14.57
14.63
14.68
14.72
14.74
14.75
14.75
14.76
14.76
14.76
14.77
14.77
14.78
14.80
14.81
14.83
14.85
14.88
14.91
14.94
14.97
15.01
15.06
15.10
15.14
15.19
15.23
15.27
15.32
15.37
15.42
15.47
15.52
15.57
15.62
15.66
15.70
15.74
15.78
15.81
15.85
15.88
15.92
15.96
15.99
16.03
16.07

12.72
12.68
12.69
12.73
12.71
12.73
12.77
12.80
12.82
12.84
12.85
12.87
12.89
12.90
12.92
12.93
12.95
12.97
12.98
12.99
13.01
13.02
13.04
13.05
13.06
13.07
13.08
13.09
13.10
13.11
13.11
13.12
13.12
13.12
13.12
13.13
13.13
13.13
13.13
13.13
13.13
13.13
13.14
13.14
13.14
13.14
13.14
13.15
13.15
13.15
13.15
13.16
13.16
13.16
13.17
13.17
13.17
13.17
13.18
13.18
13.18
13.19
13.19
13.19
13.20
13.20
13.20
13.20
13.21
13.21
13.21
13.21
13.21
13.22
13.22
13.22

1.59
3.33
3.40
3.41
3.29
3.21
3.12
2.95
2.76
2.54
2.32
2.09
1.85
1.61
1.36
1.11
0.86
0.61
0.38
0.14
-0.09
-0.32
-0.53
-0.71
-0.88
-1.03
-1.17
-1.30
-1.39
-1.46
-1.52
-1.57
-1.60
-1.62
-1.62
-1.63
-1.63
-1.63
-1.63
-1.64
-1.64
-1.65
-1.66
-1.67
-1.69
-1.71
-1.73
-1.76
-1.79
-1.82
-1.86
-1.90
-1.94
-1.98
-2.02
-2.06
-2.10
-2.15
-2.19
-2.24
-2.29
-2.33
-2.38
-2.42
-2.46
-2.50
-2.54
-2.57
-2.61
-2.64
-2.67
-2.71
-2.74
-2.78
-2.81
-2.85

320
337
373
408
440
470
499
523
545
564
581
595
607
617
625
631
635
639
640
641
640
638
636
633
630
626
623
619
615
612
609
606
603
601
599
598
596
594
592
590
588
587
584
582
580
577
574
571
568
564
559
555
550
545
539
534
528
521
514
507
500
492
484
475
466
457
448
438
429
418
408
397
386
375
363
351

Income
Rate
13.64%

Actuarial
Balance
0.28%

Change in
Actuarial
Balance
2.21%

Summarized Rates: OASDI
2005
-2079

(in billions of dollars)

Trust Fund
Income Annual
Ratio
Cost Rate
Rate Balance
1-1-year

Cost Rate
13.35%

Based on Intermediate Assumptions of the 2005 Trustees Report.

Proposed Plan Present Law
4,730
5,861
6,177
6,500
6,828
7,166
7,515
7,870
8,233
8,607
8,994
9,392
9,807
10,236
10,682
11,141
11,619
12,112
12,624
13,152
13,699
14,268
14,867
15,492
16,140
16,814
17,518
18,258
19,034
19,843
20,680
21,554
22,469
23,426
24,425
25,464
26,546
27,675
28,853
30,077
31,343
32,657
34,027
35,453
36,933
38,466
40,066
41,733
43,469
45,281
47,162
49,116
51,154
53,275
55,481
57,777
60,165
62,658
65,259
67,965
70,781
73,692
76,725
79,908
83,228
86,679
90,269
94,003
97,896
101,950
106,164
110,548
115,109
119,858
124,802
129,946

Increase in
Taxable
Payroll over
Present Law

4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Office of the Chief Actuary
Social Security Administration
August 8, 2005

0.0%
17.6%
17.8%
17.9%
18.1%
18.1%
18.3%
18.4%
18.5%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%

Table E2 Financial Estimates for the OASDI Trust Fund Program
Eliminate the taxable maximum for payroll tax and for benefit calculations
OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
9.35
9.29
9.31
9.43
9.53
9.67
9.88
10.10
10.34
10.59
10.85
11.13
11.40
11.68
11.97
12.26
12.54
12.81
13.09
13.36
13.62
13.87
14.09
14.29
14.48
14.66
14.81
14.94
15.03
15.12
15.19
15.25
15.29
15.31
15.34
15.36
15.38
15.40
15.42
15.45
15.48
15.51
15.54
15.57
15.61
15.65
15.69
15.74
15.79
15.83
15.89
15.94
16.00
16.05
16.10
16.15
16.21
16.26
16.32
16.37
16.43
16.48
16.53
16.58
16.63
16.67
16.71
16.75
16.79
16.82
16.86
16.90
16.94
16.98
17.02

12.72
12.68
12.69
12.73
12.72
12.73
12.78
12.80
12.83
12.84
12.86
12.88
12.90
12.92
12.93
12.95
12.97
12.99
13.01
13.02
13.04
13.06
13.08
13.09
13.11
13.12
13.13
13.15
13.16
13.16
13.17
13.18
13.19
13.19
13.20
13.20
13.20
13.21
13.21
13.21
13.22
13.22
13.22
13.23
13.23
13.24
13.24
13.24
13.25
13.25
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.31
13.31
13.31
13.32
13.32
13.32
13.32
13.33
13.33
13.33
13.33
13.34
13.34
13.34

1.59
3.33
3.40
3.41
3.29
3.20
3.10
2.93
2.73
2.50
2.27
2.02
1.77
1.51
1.25
0.98
0.71
0.45
0.19
-0.06
-0.32
-0.56
-0.79
-1.00
-1.19
-1.36
-1.52
-1.66
-1.78
-1.87
-1.95
-2.01
-2.06
-2.10
-2.12
-2.14
-2.16
-2.18
-2.19
-2.21
-2.23
-2.26
-2.28
-2.31
-2.34
-2.37
-2.41
-2.45
-2.49
-2.53
-2.58
-2.63
-2.68
-2.73
-2.77
-2.82
-2.87
-2.92
-2.97
-3.02
-3.07
-3.13
-3.18
-3.23
-3.27
-3.31
-3.35
-3.39
-3.42
-3.46
-3.50
-3.53
-3.57
-3.61
-3.64
-3.68

320
337
373
408
440
470
498
522
543
561
576
589
600
608
614
619
622
623
622
621
618
613
608
602
597
590
584
576
569
563
556
550
543
537
531
524
518
511
505
498
491
483
476
468
460
452
443
434
424
414
404
393
382
370
359
346
334
321
307
293
278
264
248
233
217
200
183
166
148
130
112
93
73
54
33
13

Income
Rate
13.69%

Actuarial
Balance
-0.10%

Change in
Actuarial
Balance
1.82%

Summarized Rates: OASDI
2005
-2079

(in billions of dollars)

Trust Fund
Income Annual
Ratio
Rate Balance
Cost Rate
1-1-year

Cost Rate
13.80%

Based on Intermediate Assumptions of the 2005 Trustees Report.

Proposed Plan Present Law
4,730
5,861
6,177
6,500
6,828
7,166
7,515
7,870
8,233
8,607
8,994
9,392
9,807
10,236
10,682
11,141
11,619
12,112
12,624
13,152
13,699
14,268
14,867
15,492
16,140
16,814
17,518
18,258
19,034
19,843
20,680
21,554
22,469
23,426
24,425
25,464
26,546
27,675
28,853
30,077
31,343
32,657
34,027
35,453
36,933
38,466
40,066
41,733
43,469
45,281
47,162
49,116
51,154
53,275
55,481
57,777
60,165
62,658
65,259
67,965
70,781
73,692
76,725
79,908
83,228
86,679
90,269
94,003
97,896
101,950
106,164
110,548
115,109
119,858
124,802
129,946

Increase in
Taxable
Payroll over
Present Law

4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Office of the Chief Actuary
Social Security Administration
August 8, 2005

0.0%
17.6%
17.8%
17.9%
18.1%
18.1%
18.3%
18.4%
18.5%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.6%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.7%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.8%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
18.9%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%
19.0%

Table E3 Financial Estimates for the OASDI Trust Fund Program
Make 90 percent of the earnings subject to payroll tax and credit them for benefit purposes, phased
in 2006-2015
OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
10.87
10.70
10.63
10.67
10.71
10.79
10.95
11.14
11.33
11.53
11.80
12.09
12.38
12.67
12.97
13.26
13.56
13.85
14.13
14.40
14.67
14.93
15.16
15.37
15.56
15.74
15.89
16.03
16.12
16.20
16.27
16.32
16.36
16.38
16.39
16.41
16.43
16.45
16.46
16.48
16.50
16.53
16.56
16.59
16.62
16.66
16.71
16.76
16.81
16.86
16.92
16.97
17.03
17.09
17.14
17.20
17.26
17.33
17.39
17.45
17.51
17.57
17.63
17.68
17.73
17.77
17.82
17.86
17.90
17.94
17.99
18.03
18.07
18.11
18.16

12.72
12.72
12.74
12.77
12.76
12.77
12.82
12.85
12.87
12.88
12.90
12.92
12.93
12.95
12.97
12.99
13.01
13.03
13.04
13.06
13.08
13.09
13.11
13.13
13.14
13.15
13.17
13.18
13.19
13.20
13.20
13.21
13.22
13.22
13.22
13.23
13.23
13.23
13.24
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.30
13.30
13.31
13.31
13.32
13.32
13.32
13.33
13.33
13.34
13.34
13.34
13.35
13.35
13.35
13.36
13.36
13.36
13.36
13.37
13.37
13.37

1.59
1.86
2.04
2.14
2.08
2.07
2.02
1.89
1.74
1.55
1.37
1.11
0.84
0.57
0.30
0.02
-0.26
-0.53
-0.80
-1.07
-1.33
-1.58
-1.82
-2.03
-2.23
-2.40
-2.57
-2.71
-2.84
-2.93
-3.00
-3.06
-3.10
-3.14
-3.15
-3.16
-3.18
-3.19
-3.21
-3.22
-3.24
-3.26
-3.28
-3.30
-3.33
-3.36
-3.40
-3.44
-3.49
-3.53
-3.58
-3.63
-3.68
-3.74
-3.79
-3.84
-3.89
-3.95
-4.01
-4.07
-4.12
-4.18
-4.24
-4.29
-4.34
-4.38
-4.42
-4.47
-4.51
-4.54
-4.58
-4.62
-4.66
-4.70
-4.74
-4.78

320
337
356
374
390
406
421
433
444
453
460
466
469
471
471
469
466
461
454
447
438
428
417
405
393
380
367
353
339
325
311
296
281
266
251
235
220
204
187
171
154
137
119
101
83
64
45
26
6
----------------------------------------------------------------------------------

Income
Rate
13.79%

Actuarial
Balance
-1.09%

Change in
Actuarial
Balance
0.83%

Summarized Rates: OASDI
2005
-2079

(in billions of dollars)

Trust Fund
Income Annual
Ratio
Cost Rate
Rate Balance
1-1-year

Cost Rate
14.88%

Based on Intermediate Assumptions of the 2005 Trustees Report.

Proposed Plan Present Law
4,730
5,045
5,366
5,695
6,029
6,373
6,725
7,082
7,448
7,828
8,225
8,592
8,968
9,365
9,776
10,197
10,635
11,085
11,552
12,037
12,543
13,069
13,618
14,188
14,778
15,397
16,044
16,720
17,420
18,160
18,932
19,734
20,572
21,440
22,356
23,311
24,306
25,338
26,406
27,525
28,691
29,899
31,154
32,458
33,811
35,221
36,690
38,212
39,793
41,446
43,170
44,961
46,824
48,757
50,768
52,873
55,055
57,334
59,703
62,171
64,746
67,406
70,176
73,080
76,111
79,266
82,547
85,961
89,521
93,224
97,073
101,080
105,250
109,591
114,111
118,814

Increase in
Taxable
Payroll over
Present Law

4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Office of the Chief Actuary
Social Security Administration
August 8, 2005

0.0%
1.2%
2.3%
3.3%
4.2%
5.1%
5.8%
6.6%
7.2%
7.8%
8.5%
8.5%
8.5%
8.5%
8.6%
8.6%
8.6%
8.6%
8.6%
8.6%
8.6%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.7%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%
8.8%

Table F1

Financial Estimates for the OASDI Trust Fund Program
Cover newly hired state and local government employees beginning in 2006
OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
10.97
10.89
10.90
11.01
11.12
11.26
11.49
11.73
11.99
12.25
12.52
12.81
13.10
13.39
13.69
13.99
14.28
14.57
14.85
15.12
15.40
15.65
15.87
16.07
16.25
16.42
16.57
16.68
16.77
16.84
16.91
16.96
16.99
17.01
17.02
17.04
17.07
17.09
17.11
17.14
17.17
17.21
17.25
17.29
17.33
17.38
17.44
17.50
17.56
17.62
17.69
17.75
17.82
17.89
17.95
18.02
18.09
18.16
18.23
18.30
18.37
18.44
18.51
18.57
18.62
18.68
18.73
18.78
18.83
18.88
18.93
18.97
19.02
19.07
19.12

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.91
12.93
12.95
12.96
12.98
13.00
13.02
13.04
13.05
13.07
13.09
13.10
13.12
13.14
13.15
13.16
13.18
13.19
13.20
13.21
13.21
13.22
13.22
13.23
13.23
13.24
13.24
13.24
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.26
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.30
13.30
13.31
13.31
13.31
13.32
13.32
13.33
13.33
13.34
13.34
13.34
13.35
13.35
13.35
13.36
13.36
13.36
13.37
13.37
13.37
13.37
13.38

1.59
1.76
1.85
1.88
1.75
1.67
1.57
1.38
1.16
0.92
0.68
0.42
0.15
-0.12
-0.39
-0.67
-0.95
-1.23
-1.50
-1.76
-2.02
-2.28
-2.51
-2.72
-2.90
-3.07
-3.23
-3.37
-3.48
-3.56
-3.62
-3.68
-3.73
-3.76
-3.77
-3.78
-3.80
-3.83
-3.85
-3.87
-3.89
-3.92
-3.96
-3.99
-4.03
-4.07
-4.11
-4.17
-4.22
-4.28
-4.33
-4.40
-4.46
-4.52
-4.59
-4.65
-4.71
-4.78
-4.84
-4.91
-4.98
-5.04
-5.11
-5.17
-5.22
-5.28
-5.33
-5.37
-5.42
-5.47
-5.51
-5.56
-5.60
-5.65
-5.70
-5.74

320
337
355
371
384
397
408
416
422
425
428
428
426
422
418
411
404
395
384
373
360
346
332
316
300
284
267
249
231
213
194
175
156
136
116
96
75
54
33
11
-------------------------------------------------------------------------------------------------------------

Income
Rate
13.84%

Actuarial
Balance
-1.71%

Change in
Actuarial
Balance
0.22%

Summarized Rates: OASDI
2005
-2079

(in billions of dollars)

Trust Fund
Income Annual
Ratio
Cost Rate
Rate Balance
1-1-year

Cost Rate
15.54%

Based on Intermediate Assumptions of the 2005 Trustees Report.

Proposed Plan Present Law
4,730
4,996
5,271
5,554
5,842
6,139
6,444
6,751
7,067
7,394
7,736
8,089
8,455
8,834
9,228
9,633
10,055
10,491
10,943
11,411
11,895
12,399
12,929
13,483
14,058
14,656
15,281
15,939
16,628
17,348
18,094
18,863
19,669
20,513
21,394
22,310
23,257
24,244
25,274
26,345
27,452
28,602
29,800
31,047
32,340
33,682
35,080
36,538
38,055
39,638
41,283
42,991
44,771
46,624
48,552
50,559
52,645
54,823
57,095
59,458
61,918
64,460
67,109
69,888
72,787
75,801
78,935
82,195
85,594
89,133
92,810
96,637
100,618
104,762
109,076
113,564

Increase in
Taxable
Payroll over
Present Law

4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Office of the Chief Actuary
Social Security Administration
August 8, 2005

0.0%
0.2%
0.5%
0.8%
1.0%
1.2%
1.4%
1.6%
1.7%
1.9%
2.0%
2.1%
2.3%
2.4%
2.5%
2.6%
2.7%
2.8%
2.9%
2.9%
3.0%
3.1%
3.2%
3.3%
3.4%
3.5%
3.5%
3.6%
3.7%
3.8%
3.9%
3.9%
3.9%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%
4.0%

Table G1

Financial Estimates for the OASDI Trust Fund Program

Invest 40 percent of the Trust Funds in equities (phased in 2006-2020) assuming a 6.5 percent real
rate of return on equities
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Rate Balance
Cost Rate
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.21
12.49
12.79
13.09
13.40
13.71
14.03
14.34
14.65
14.95
15.25
15.55
15.83
16.10
16.34
16.55
16.74
16.92
17.08
17.20
17.30
17.37
17.44
17.48
17.50
17.51
17.52
17.52
17.53
17.54
17.54
17.55
17.56
17.58
17.60
17.62
17.64
17.68
17.71
17.75
17.80
17.84
17.89
17.95
18.00
18.05
18.10
18.16
18.22
18.28
18.34
18.40
18.46
18.52
18.57
18.63
18.67
18.72
18.77
18.81
18.85
18.90
18.94
18.99
19.03
19.08
19.12

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.98
13.00
13.01
13.03
13.05
13.07
13.09
13.11
13.12
13.14
13.16
13.17
13.19
13.20
13.21
13.22
13.23
13.24
13.24
13.25
13.25
13.26
13.26
13.26
13.26
13.27
13.27
13.27
13.27
13.27
13.27
13.28
13.28
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.31
13.32
13.32
13.32
13.33
13.33
13.34
13.34
13.34
13.35
13.35
13.35
13.36
13.36
13.36
13.36
13.37
13.37
13.37
13.37
13.38

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.20
0.97
0.71
0.45
0.17
-0.12
-0.40
-0.69
-1.00
-1.29
-1.58
-1.87
-2.15
-2.42
-2.69
-2.94
-3.16
-3.36
-3.54
-3.71
-3.86
-3.97
-4.06
-4.13
-4.18
-4.22
-4.24
-4.25
-4.26
-4.26
-4.27
-4.27
-4.27
-4.28
-4.29
-4.31
-4.32
-4.34
-4.36
-4.39
-4.43
-4.47
-4.50
-4.55
-4.60
-4.65
-4.69
-4.74
-4.79
-4.84
-4.90
-4.95
-5.01
-5.07
-5.12
-5.18
-5.23
-5.28
-5.32
-5.37
-5.41
-5.45
-5.49
-5.53
-5.58
-5.62
-5.66
-5.70
-5.75

320
337
355
371
385
398
409
418
425
430
434
436
436
436
434
431
427
421
415
407
397
387
375
363
350
336
322
307
291
275
259
242
225
207
189
170
151
131
110
89
68
46
23
----------------------------------------------------------------------------------------------------

Income
Rate
14.07%

Actuarial
Balance
-1.04%

Change in
Actuarial
Balance
0.88%

Summarized Rates: OASDI
2004
-2078

Cost Rate
15.11%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table G2

Financial Estimates for the OASDI Trust Fund Program

Invest 40 percent of the Trust Funds in equities (phased in 2006-2020) assuming a 5.5 percent real
rate of return on equities
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Rate Balance
Cost Rate
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.21
12.49
12.79
13.09
13.40
13.71
14.03
14.34
14.65
14.95
15.25
15.55
15.83
16.10
16.34
16.55
16.74
16.92
17.08
17.20
17.30
17.37
17.44
17.48
17.50
17.51
17.52
17.52
17.53
17.54
17.54
17.55
17.56
17.58
17.60
17.62
17.64
17.68
17.71
17.75
17.80
17.84
17.89
17.95
18.00
18.05
18.10
18.16
18.22
18.28
18.34
18.40
18.46
18.52
18.57
18.63
18.67
18.72
18.77
18.81
18.85
18.90
18.94
18.99
19.03
19.08
19.12

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.98
13.00
13.01
13.03
13.05
13.07
13.09
13.11
13.12
13.14
13.16
13.17
13.19
13.20
13.21
13.22
13.23
13.24
13.24
13.25
13.25
13.26
13.26
13.26
13.26
13.27
13.27
13.27
13.27
13.27
13.27
13.28
13.28
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.31
13.32
13.32
13.32
13.33
13.33
13.34
13.34
13.34
13.35
13.35
13.35
13.36
13.36
13.36
13.36
13.37
13.37
13.37
13.37
13.38

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.20
0.97
0.71
0.45
0.17
-0.12
-0.40
-0.69
-1.00
-1.29
-1.58
-1.87
-2.15
-2.42
-2.69
-2.94
-3.16
-3.36
-3.54
-3.71
-3.86
-3.97
-4.06
-4.13
-4.18
-4.22
-4.24
-4.25
-4.26
-4.26
-4.27
-4.27
-4.27
-4.28
-4.29
-4.31
-4.32
-4.34
-4.36
-4.39
-4.43
-4.47
-4.50
-4.55
-4.60
-4.65
-4.69
-4.74
-4.79
-4.84
-4.90
-4.95
-5.01
-5.07
-5.12
-5.18
-5.23
-5.28
-5.32
-5.37
-5.41
-5.45
-5.49
-5.53
-5.58
-5.62
-5.66
-5.70
-5.75

320
337
355
371
384
397
407
416
422
426
429
430
429
428
424
420
414
407
398
388
377
365
352
338
323
308
292
275
258
240
222
203
184
164
144
124
103
81
59
36
13
----------------------------------------------------------------------------------------------------------

Income
Rate
14.01%

Actuarial
Balance
-1.29%

Change in
Actuarial
Balance
0.64%

Summarized Rates: OASDI
2004
-2078

Cost Rate
15.30%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005

Table G3

Financial Estimates for the OASDI Trust Fund Program

Invest 40 percent of the Trust Funds in equities (phased in 2006-2020) assuming an ultimate 3 percent
real rate of return on equities
Expressed as a percentage of taxable payroll

Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

Income Annual
Rate Balance
Cost Rate
11.13
11.00
10.95
10.99
11.13
11.25
11.42
11.67
11.93
12.21
12.49
12.79
13.09
13.40
13.71
14.03
14.34
14.65
14.95
15.25
15.55
15.83
16.10
16.34
16.55
16.74
16.92
17.08
17.20
17.30
17.37
17.44
17.48
17.50
17.51
17.52
17.52
17.53
17.54
17.54
17.55
17.56
17.58
17.60
17.62
17.64
17.68
17.71
17.75
17.80
17.84
17.89
17.95
18.00
18.05
18.10
18.16
18.22
18.28
18.34
18.40
18.46
18.52
18.57
18.63
18.67
18.72
18.77
18.81
18.85
18.90
18.94
18.99
19.03
19.08
19.12

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.87
12.90
12.92
12.94
12.96
12.98
13.00
13.01
13.03
13.05
13.07
13.09
13.11
13.12
13.14
13.16
13.17
13.19
13.20
13.21
13.22
13.23
13.24
13.24
13.25
13.25
13.26
13.26
13.26
13.26
13.27
13.27
13.27
13.27
13.27
13.27
13.28
13.28
13.28
13.28
13.29
13.29
13.29
13.30
13.30
13.30
13.31
13.31
13.31
13.32
13.32
13.32
13.33
13.33
13.34
13.34
13.34
13.35
13.35
13.35
13.36
13.36
13.36
13.36
13.37
13.37
13.37
13.37
13.38

1.59
1.73
1.79
1.80
1.65
1.54
1.42
1.20
0.97
0.71
0.45
0.17
-0.12
-0.40
-0.69
-1.00
-1.29
-1.58
-1.87
-2.15
-2.42
-2.69
-2.94
-3.16
-3.36
-3.54
-3.71
-3.86
-3.97
-4.06
-4.13
-4.18
-4.22
-4.24
-4.25
-4.26
-4.26
-4.27
-4.27
-4.27
-4.28
-4.29
-4.31
-4.32
-4.34
-4.36
-4.39
-4.43
-4.47
-4.51
-4.55
-4.60
-4.65
-4.69
-4.74
-4.79
-4.84
-4.90
-4.95
-5.01
-5.07
-5.12
-5.18
-5.23
-5.28
-5.32
-5.37
-5.41
-5.45
-5.49
-5.53
-5.58
-5.62
-5.66
-5.70
-5.75

320
337
355
370
383
394
404
410
415
417
418
416
412
407
401
393
383
372
360
346
332
316
299
282
264
245
225
205
185
164
143
121
99
77
54
31
7
----------------------------------------------------------------------------------------------------------------------

Income
Rate
13.87%

Actuarial
Balance
-1.92%

Change in
Actuarial
Balance
0.00%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.79%

Trust Fund
Ratio
1-1-year

Based on Intermediate Assumptions of the 2005 Trustees Report.

Office of the Chief Actuary
Social Security Administration
August 8, 2005