SOCIAL SECURITY

MEMORANDUM 

Date: January 13, 2010 Refer To: TCA

To: Kenneth S. Apfel, Chair of the Social Security Work Group 

John L. Palmer, Co-chair of the Committee 

Rudolph G. Penner, Co-chair of the Committee 

From: Stephen C. Goss, Chief Actuary 

Alice H. Wade, Deputy Chief Actuary 

Chris Chaplain, Supervisory Actuary 

Subject: Estimated Financial Effects of Four Comprehensive Proposals to Restore Social Security to 

Sustainable Solvency for the Committee Report of the National Research Council and the 

National Academy of Public Administration on “Choosing the Nation’s Fiscal Future”—

INFORMATION 

This memorandum provides estimates of the financial effects on the Old-Age, Survivors, and 

Disability Insurance (OASDI) program of four comprehensive proposals for restoring sustainable 

solvency for Social Security. These proposals were developed for inclusion in your Committee 

Report of January 13, 2010. All estimates provided in this memorandum and in the attached 

tables are based on the intermediate assumptions of the 2009 OASDI Trustees Report. 

The four proposals provide a broad range of options to achieve sustainable solvency for OASDI, 

by varying the emphasis on increasing tax revenue versus reducing benefits. The targeted shares 

of the overall change that are to come from tax revenue increase and benefit reduction over the 

long-range projection period (2009 through 2083) for each proposal are listed below. 

• Proposal: Option 1, Reductions in the Growth of Benefits Only - Reforms the program by

only decreasing scheduled benefits.

• Proposal: Option 2, Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax

Increases - Reforms the program by reducing scheduled benefits $2 for every $1 increase

in payroll taxes.

• Proposal: Option 3, One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax

Increases- Reforms the program by increasing payroll taxes $2 for every $1 reduction in

scheduled benefits.

• Proposal: Option 4, Payroll Tax Increases Only - Reforms the program by increasing

payroll taxes only.
2 

Each of the four proposals was developed according to specifications provided by Kenneth 

Apfel, Chair of the Committee’s Social Security Work Group, along with Mark Menchik, 

Stevens Redburn, and Jane Ross, who helped staff the Commission. Each proposal is designed 

to: 

• Target the specified proportions of change from increases in tax revenues and reductions 

in benefits throughout the long-range projection period, 

• Reduce current trust fund reserves gradually to a stable 100 percent of annual program 

cost, and 

• Achieve sustainable solvency, i.e., have projected assets in the OASDI Trust Funds that 

are (1) positive throughout the long-range projection period and (2) stable or rising as a 

percentage of annual program cost at the end of the period. Thus, the program would be 

expected to be solvent for the foreseeable future. 

As shown in figure 1 below, all four proposals are projected to restore sustainable solvency for 

the OASDI program. 

Benefit amounts that are projected to be payable under current (or proposed) law are referred to 

as expenditures. At the time of projected Trust Fund exhaustion under current law (2037), 

expenditures are projected to be 76 percent of scheduled benefits (benefits specified in current 

law) and are about 74 percent of scheduled benefits in 2083. The projected cost of the program 

reflects the full amount of scheduled benefits, even when this amount would not be fully payable 

under the law. The differences in the extent to which the total change in each proposal comes 

from benefit reductions are illustrated in figure 2 below. This figure shows that Proposal: Option 

1 provides for benefits that are about the level that is ultimately payable under current law, while 
3 

Proposal: Option 4 provides for benefits at the level that is specified in current law. Proposal: 

Options 2 and 3 fall between these two. 

The balance of this memorandum provides detailed descriptions of the proposals and estimates 

of their effects on benefits, revenue, and the actuarial status of the OASDI program. Tables 

described in the memorandum are attached. These estimates include: 

• Annual income, cost, and expenditures compared to current law, provided as a percent of 

taxable payroll in figures 3 and as a percent of Gross Domestic Product (GDP) in figures 

4. 

• The OASDI 75-year actuarial balance and the annual balance for the 75th year for each 

provision and for each proposal as a whole, provided in table A. 

• Estimates of the effects on benefit levels for several hypothetical workers, in tables B. 

• Estimates of the effects on taxes paid by several hypothetical workers, in table C.

• Additional financial measures, including effects on the unified budget, in tables 1-4.

• An analysis of the implications of a 5-year or 10-year delay in the effective dates for the 

proposals, in tables 1.05-4.05 and tables 1.10-4.10.
4 

Specifications of the Proposals 

Descriptions of the provisions included in each Proposal Option are provided below. For each 

provision, the estimated effect on the long-range OASDI actuarial balance is given. 

Proposal: Option 1, Reductions in the Growth of Benefits Only 

Proposal: Option 1 includes the following three provisions: 

a. Progressive indexing1

 of the factors in the Primary Insurance Amount (PIA) formula 

starts with newly eligible OASI beneficiaries in 2012 and continues through 2049. 

Formula factors are maintained at the level in 2049 until progressive indexing restarts for 

newly eligible OASI beneficiaries in 2070. Under progressive indexing, a new bend point 

is established at the 30th percentile of newly eligible beneficiaries whose average indexed 

monthly earnings (AIME) are at the 30th percentile. Introducing a new bend point 

expands the number of formula factors from three to four. In order to maintain currentlaw benefits for those who have AIMEs at the 30th percentile or below, the first 2 formula 

factors are kept at 90 percent and 32 percent. However, the upper 2 formula factors (32 

percent and 15 percent) are reduced such that the steady-maximum worker benefit is 

reduced each year that the progressive indexing applies by 1.1 percent. Disability benefits 

are not affected by this provision. However, at conversion from disabled worker to retired 

worker status, benefit levels are reduced in proportion to the number of years between 

age 22 and age 62 that the worker was not receiving a disabled worker benefit. The 

financial effect of this provision alone is an increase in the long-range actuarial balance 

of 1.25 percent of taxable payroll. 

b. Accelerate the currently scheduled increase in the normal retirement age (NRA) to age 67 

to start 5 years earlier, in 2012. After 2017, index the NRA to maintain the ratio of life 

expectancy at NRA to the quantity (NRA-20), that is, the ratio of expected average 

retirement years to potential work years. This is expected to raise the NRA by one month 

every two years. Also, starting in 2012, raise the EEA along with the NRA. Expand the 

vocational “grid” to ages 60 through NRA, easing the criteria at these ages. The financial 

effect of this provision alone is an increase in the long-range actuarial balance of 0.56 

percent of taxable payroll. 

c. Starting with the December 2012 cost-of-living adjustment (COLA), compute the COLA 

using a chained version of the Consumer Price Index for Urban Wage Earners and 

Clerical Workers (CPI-W). This new computation is estimated to result in an annual 

COLA that is 0.3 percent less, on average. The new COLA would not apply to DI 

benefits and would apply for all OASI benefits, except for those who are converted from 

 

1 Progressive Indexing (PI) is similar to Progressive Price Indexing (PPI). The difference is the targeted amount of 

reduction for the worker with steady earnings at the current law taxable maximum. For the PI provision, this amount 

of reduction is 1.1 percent per year, rather than the actual amount of real increase in the average wage level as 

specified by the PPI provision. Note that as in the PPI, the PI provision would be designed to leave benefits 

unaffected for the 30 percent of retirees with the lowest AIMEs. 
5 

disabled worker to retired worker status. The financial effect of this provision alone is an 

increase in the long-range actuarial balance of 0.36 percent of taxable payroll. 

Proposal: Option 2, Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax 

Increases 

Proposal: Option 2 includes the following two provisions: 

a. Progressive indexing1 of the factors in the Primary Insurance Amount (PIA) formula 

starts with newly eligible OASI beneficiaries in 2012 and continues through 2061. Under 

progressive indexing, a new bend point is established at the 30th percentile of newly 

eligible beneficiaries whose average index monthly earnings (AIME) are at the 30th 

percentile. Introducing a new bend point expands the number of formula factors from 

three to four. In order to maintain current-law benefits for those who have AIMEs at the 

30th percentile or below, the first 2 formula factors are kept at 90 percent and 32 percent. 

However, the upper 2 formula factors (32 percent and 15 percent) are reduced such that 

the maximum worker benefit is reduced each year that the progressive indexing applies 

by 1.1 percent. Disability benefits are not affected by this provision. However, at 

conversion from disabled worker to retired worker status, benefit levels are reduced in 

proportion to the number of years between age 22 and age 62 that the worker was not 

receiving a disabled worker benefit. The financial effect of this provision alone is an 

increase in the long-range actuarial balance of 1.34 percent of taxable payroll. 

b. The payroll tax rate (currently 12.4 percent) increases to 12.6 percent in 2012, 12.9 

percent in 2020, 13.1 in percent in 2030, 13.9 percent in 2040, 13.5 percent in 2050, and 

13.3 percent in 2060. The financial effect of this provision alone is an increase in the 

long-range actuarial balance of 0.73 percent of taxable payroll. 

Proposal: Option 3, One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax 

Increases 

Proposal: Option 3 includes the following three provisions: 

a. Progressive indexing1

 of the factors in the Primary Insurance Amount (PIA) formula 

starts with newly eligible OASI beneficiaries in 2012 and continues through 2021. 

Formula factors are maintained at the level in 2021 until progressive indexing restarts for 

newly eligible OASI beneficiaries in 2060. Under progressive indexing, a new bend point 

is established at the 30th percentile of newly eligible beneficiaries whose average index 

monthly earnings (AIME) are at the 30th percentile. Introducing a new bend point 

expands the number of formula factors from three to four. In order to maintain currentlaw benefits for those who have AIMEs at the 30th percentile or below, the first 2 formula 

factors are kept at 90 percent and 32 percent. However, the upper 2 formula factors (32 

percent and 15 percent) are reduced such that the maximum worker benefit is reduced 

each year that the progressive indexing applies by 1.1 percent. Disability benefits are not 

affected by this provision. However, at conversion from disabled worker to retired 

worker status, benefit levels are reduced in proportion to the number of years between 
6 

age 22 and age 62 that the worker was not receiving a disabled worker benefit. The 

financial effect of this provision alone is an increase in the long-range actuarial balance 

of 0.63 percent of taxable payroll. 

b. The payroll tax rate (currently 12.4 percent) increases to 12.6 percent in 2012, 12.9 

percent in 2020, 13.3 in percent in 2030, 13.8 percent in 2040, 14.4 percent in 2060, and 

14.5 percent in 2075. The financial effect of this provision alone is an increase in the 

long-range actuarial balance of 1.02 percent of taxable payroll. 

 

c. The following payroll tax rate applies above the taxable maximum, with no credit toward 

benefits: 2.0 percent starting in 2012 and 3.0 percent starting in 2060. The financial effect 

of this provision alone is an increase in the long-range actuarial balance of 0.41 percent 

of taxable payroll. 

Proposal: Option 4, Payroll Tax Increases Only 

Proposal: Option 4 includes three provisions. Note that provisions b. and c. of this option have 

very substantial interaction with the previous provisions. For this reason, we provide both the 

individual effects of each of these on the actuarial balance and the incremental effect computed 

assuming the prior provisions were already enacted. 

a. The taxable maximum (contribution and benefit base) increases by an additional 2 

percent over normal indexing starting in 2012, until 90 percent of OASDI covered 

earnings are taxable (achieved in 2048). The present-law taxable maximum is retained 

for benefit purposes; no benefit credit is given for earnings above the present-law taxable 

maximum. The financial effect of this provision alone is an increase in the long-range 

actuarial balance of 0.69 percent of taxable payroll. 

b. The payroll tax rate (currently 12.4 percent) increases to 12.7 percent in 2012, 13.0 

percent in 2025, 13.3 in percent in 2040, 14.0 percent in 2060, 14.5 percent in 2070, and 

14.7 percent in 2080. The financial effect of this provision alone is an increase in the 

long-range actuarial balance of 0.83 percent of taxable payroll. (The incremental 

financial effect of this provision is an increase in the long-range actuarial balance of 0.89 

percent of taxable payroll.) 

c. The following payroll tax rate applies above the new taxable maximum, with no credit 

toward benefits: 2.0 percent starting in 2012, 3.0 percent starting in 2025, 3.5 percent 

starting in 2040, 4.5 percent starting in 2050, and 5.5 percent starting in 2060. The 

financial effect of this provision alone, assuming the payroll tax rate applies above the 

present-law taxable maximum, is an increase in the long-range actuarial balance of 0.65 

percent of taxable payroll. (The incremental financial effect of this provision is an 

increase in the long-range actuarial balance of 0.43 percent of taxable payroll.) 
7 

Financial Effects of the Proposal Options 

The figures in this memorandum and the attached tables provide our projections regarding the 

financial effects of Proposal Options 1-4. In addition, under Tables 1-4: “Trust Fund 

Operations”, we include additional tables for a 5-year and a 10-year delay in the implementation 

dates for each option. These tables illustrate the fact that delayed implementation would result in 

insufficient change from these options to achieve sustainable solvency for the OASDI program. 

Summary Results 

Table A provides estimates for the proposals in total and for the provisions included in each 

proposal. These tables show that each proposal would eliminate the present-law OASDI longrange actuarial deficit of 2.00 percent of taxable payroll. The total change in the long-range 

actuarial balance for each proposal reflects the interaction among provisions of the proposal. 

Table A also provides the effect on the annual balance, the difference between tax income and 

program cost for the 75th projection year (2083), expressed as a percent of present-law taxable 

payroll. Achievement of sustainable solvency requires elimination of the present-law long-range 

actuarial deficit, and at least a very substantial reduction in the projected annual deficit for the 

year 2083. For each proposal, the present-law projected annual deficit of 4.34 percent of taxable 

payroll for 2083 would be reduced by at least 4.10 percent of present law taxable payroll. 

Therefore, combined with a stable or increasing trust fund ratio at the end of the 75-year period, 

each proposal achieves sustainable solvency under the Trustees intermediate assumptions. 

Trust Fund Operations as a Percent of Taxable Payroll 

Figures 3 compare the annual income and cost rates (income and cost of the OASDI program as 

a percent of present-law taxable payroll) under present law with those for each proposal. For 

present law, a line is shown for present-law cost (based on benefits scheduled in law) and a line 

is shown for present-law expenditure (based on actual expenditures payable under the current 

law). For each of the proposals the difference between the income and cost rates is projected to 

be close to zero toward the end of the period. Under current law, projected income and 

expenditure rates are the same after trust fund exhaustion. 
8 
9 
10 

Trust Fund Operations as a Percent of Gross Domestic Product 

Figures 4 compare the annual income and cost rates (income and cost of the OASDI program as 

a percent of Gross Domestic Product, GDP), under present law with those for each proposal. For 

present law, a line is shown for present-law cost (based on benefits scheduled in law) and a line 

is shown for present-law expenditure (based on actual payable expenditures under the current 

law). The general trends in these figures are very similar to the trends in figures 3. However, 

rates as percent of GDP rise less because GDP is projected to rise faster than taxable payroll 

under current law. 
11 

Illustration of Effects on Benefits and Payroll Taxes for Hypothetical Workers 

For Proposal: Options 1-3, tables B compare the benefit levels under each proposal with 

scheduled levels in present law and with levels payable under present law. These benefit levels 
12 

are for hypothetical workers2

 retiring at age 65 in various years. All benefit levels are expressed 

in constant (CPI-deflated) 2009 dollars. 

Two sets of tables for each proposal that includes reductions in scheduled benefits are provided. 

The two sets differ only in the years of retirement for the hypothetical workers. One set (tables 

B1) presents the benefit levels for hypothetical workers retiring at age 65 every 10th year 

beginning in 2010 and ending in 2060, and in 2075. These tables are consistent with those 

provided for other comprehensive proposals. The other set (tables B2) presents the benefit levels 

for hypothetical workers retiring at age 65 in 2000, 2010, 2020, 2035, 2050, 2065, and 2082. 

For Proposal Options 2-4, table C compares payroll taxes paid under each proposal with the 

amounts scheduled in present law. These payroll taxes are for hypothetical workers with 

different levels of annual earnings in various years. All payroll taxes are expressed in constant 

2009 dollars. 

Detailed Results 

For each proposal, a set of detailed tables providing annual and summary results is included. 

Explanatory information about the tables in each set as well as a discussion and comparison of 

the results follows. 

Tables 1-4: Trust Fund Operations 

Tables 1-4 indicate that under the intermediate assumptions of the 2009 Trustees Report, the 

OASDI program is projected to be solvent throughout the 75-year projection period and beyond 

for each of the options. The trust fund ratio is projected to reach around 100 percent of annual 

program cost by 2083 for each option, and to be stable or rising thereafter. 

In these tables, cost rates, income rates, balances, and effective OASDI payroll tax income rates 

are all expressed as percent of the present-law level of taxable payroll. Proposal Options 2-4 

include additional columns showing the proposal-specified payroll tax rates applicable above and 

below the specified maximum taxable earnings level. Note that the value in the “effective 

OASDI payroll tax income rate” column reflects all payroll taxes scheduled under the proposal, 

and includes the effects of any modeled behavioral response to increases in payroll tax rates. 

Such behavioral responses tend to include some reduction in reported taxable earnings. This 

explains the small differences in the effective tax income rates and the scheduled tax rate, which 

is most readily seen in tables 2. 

Finally, tables 1.05-4.05 and 1.10-4.10 illustrate the implications of applying the same provisions 

mentioned above, but with a 5-year or 10-year delay in implementation. In each case, the 

prescribed changes would not result in 75-year solvency, and, thus, would not result in 

sustainable solvency. 

 

2

 Five different hypothetical workers are included: the scaled very low earner, the scaled low earner, the scaled 

medium earner, the scaled high earner, and steady maximum earner. 
13 

Tables 1a-4a: Program Assets 

Tables 1a-4a provide an analysis of net OASDI Trust Fund assets. Columns 1-4 indicate that 

there are no general fund transfers provided under these options. 

Total projected OASDI Trust Fund assets are shown in column 5. For purpose of comparison, 

the net OASDI Trust Fund assets are also shown for a theoretical Social Security program where 

borrowing authority is assumed for the Trust Funds. The theoretical Social Security program 

with borrowing authority is presented both without and with the net General Fund transfers 

expected under this plan, in columns 7 and 8, respectively. These two columns are equal 

because no general fund transfers are provided in these options. Gross Domestic Product is 

shown in column 6 for comparison with other values in the tables. 

Tables 1b-4b: Effect on the Federal Unified Budget 

Tables 1b-4b provide estimates of the effect on Federal unified budget cash flows and balances 

under each proposal option in present value discounted dollars. These effects are also shown in 

constant 2009 dollars in tables 1b.c-4b.c. All values in these tables represent the amount of the 

change that would be expected as a result of implementing the proposal, from the level that 

would be projected under current law. The effect of each plan on unified budget cash flow 

(column 2) is expected to be positive starting in 2012. This total cash flow change equals the 

specific effects shown in column 1. It is important to note that these estimates are based on the 

intermediate assumptions of the 2009 Trustees Report and, thus, are not consistent with estimates 

made by the Office of Management and Budget (OMB) or the Congressional Budget Office 

(CBO) based on their assumptions. 

Column 3 provides the projected effect of implementing the option on the Federal debt held by 

the public. Column 4 provides the projected effect on the annual unified budget balances, 

including both the cash flow effect in column 2 and the additional interest on the accumulated 

debt indicated in column 3. 

Tables 1c-4c: Cash Flow to the General Fund of the Treasury 

Tables 1c-4c provide estimates of the net cash flow from the OASDI Trust Funds to the General 

Fund of the Treasury. Revenue paid by the Treasury to the Trust Funds for the redemption of the 

special-issue Treasury obligations held by the Trust Funds is included here as a negative cash 

flow to the General Fund. 

Values in tables 1c-4c are shown as a percent of present-law taxable payroll, in current dollars, in 

present value dollars as of 1/1/2009, and in constant 2009 dollars (discounted to 2009 with the 

projected growth in the CPI). For comparison purposes, net cash flow is also shown for a 

theoretical Social Security program where transfers from the General Fund of the Treasury to the 

OASDI Trust Funds are assumed to occur as needed to assure full payment of scheduled benefits 

in 2037 and later. 
14 

Tables 1d-4d: Effects on Trust Fund Assets and Unfunded Obligations 

Tables 1d-4d provide estimates of the changes in projected OASDI trust fund assets and, for 

years after trust fund exhaustion, the level of unfunded obligations through the year. The tables 

illustrate the effect of annual changes and accumulated changes in OASDI cash flow on the level 

of trust fund assets or unfunded obligation. All four proposal options eliminate the unfunded 

obligation and provide a significant and growing trust fund asset level through the 75-year 

projection period. 

Tables 1e-4e: Cost, Expenditures, and Tax Income as Percent of GDP 

Tables 1e-4e compare present-law estimates of cost, expenditures, and tax income as a percent 

of GDP with those for the proposed options. Where present-law cost rises to 5.9 percent of GDP 

by 2083, cost in that year ranges from 4.4 percent of GDP for option 1 and 5.8 percent of GDP 

for option 4. 

Tables 1f-4f: Change in Cost and Tax Income as Percent of GDP 

Tables 1f-4f provide estimates of the change from present law in both cost (scheduled benefit 

reductions) and tax income. In addition, for these proposals, the third column also indicates the 

proportion of the total change that would be derived from benefit reductions versus tax increases, 

as specified by the proposed options. The proportion that is changed from benefit reductions 

ranges from 104 percent for option 1 to zero for proposal option 4. 

 

 Stephen C. Goss 

 

 Alice H. Wade 

 Christopher Chaplain 

Attachments 
15 

Table A—National Academy of Science Proposals: 

Estimated Change in Long-Range OASDI Actuarial Balance and the Annual Balance in the 75th Year,

Expressed as a Percentage of Taxable Payroll

Item 

Estimated Change in 

Long-Range 

Actuarial Balance

(as a percent of payroll)

Estimated Change in 

Long-Range Annual 

Balance in 75th Year 

 (as a percent of payroll)

 

Estimated Shortfall under Current Law 2.00 4.34 

 

Proposal: Option 1 – Reductions in the Growth of Benefits Only

a Progressive indexing of PIA formula factors beginning with 

individuals newly eligible for OASI benefits in 2012, continuing 

through 2049, and resuming in 2070. 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 is reduced by 1.1 percent per year as compared to current 

law, for the years that progressive indexing applies. Disability 

benefits are not affected by the proposal. Disabled worker 

beneficiaries, upon attaining normal retirement age, would be 

subject to a proportional reduction in benefits based on the 

worker's years of disability ................................................................ 1.25 2.91 

b Accelerate the currently scheduled increase in the normal 

retirement age (NRA) to age 67 to start 5 years earlier, in 2012. 

After 2017, index the NRA to maintain the ratio of life 

expectancy at NRA to the quantity (NRA-20), that is, the ratio of 

expected average retirement years to potential work years. This 

is expected to raise the NRA by one month every two years. 

Also, starting in 2012, raise the EEA along with the NRA. 

Expand the vocational “grid” to ages 60 through NRA, easing the 

criteria at these ages........................................................................... 0.56 1.23 

c Starting with the December 2012 cost-of-living adjustment

(COLA), compute the COLA using a chained version of the 

consumer price index for wage and salary workers (CPI-W). 

This new computation is estimated to result in an annual COLA 

that is 0.3 percent less, on average. The new COLA would not 

apply to DI benefits and would apply for all OASI benefits, 

except for those who are converted from disabled worker to 

retired worker status. ......................................................................... 0.36 0.50 

 

Total for all three provisions of Proposal: Option 1, 

including interaction among provisions......................................... 2.02 4.19 
16 

Table A—National Academy of Science Proposals: 

Estimated Change in Long-Range OASDI Actuarial Balance and the Annual Balance in the 75th Year,

Expressed as a Percentage of Taxable Payroll

Item 

Estimated Change in 

Long-Range 

Actuarial Balance

(as a percent of payroll)

Estimated Change in 

Long-Range Annual 

Balance in 75th Year 

 (as a percent of payroll)

Proposal: Option 2 – Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

a Progressive indexing of PIA formula factors beginning with 

individuals newly eligible for OASI benefits in 2012 through 

2061. 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 is reduced by 1.1 percent per 

year as compared to current law, for the years that progressive 

indexing applies. Disability benefits are not affected by the 

proposal. Disabled worker beneficiaries, upon attaining normal 

retirement age, would be subject to a proportional reduction in 

benefits based on the worker's years of disability.............................. 1.34 3.33 

b Increase the payroll tax rate (currently 12.4 percent) to 12.6 

percent in 2012, 12.9 percent in 2020, 13.1 in percent in 2030, 

13.9 percent in 2040, 13.5 percent in 2050, and 13.3 percent in 

2060................................................................................................... 0.73 0.91 

Total for both provisions of Proposal: Option 2, including 

interaction among provisions.......................................................... 2.07 4.23 

 

 
17 

Table A—National Academy of Science Proposals: 

Estimated Change in Long-Range OASDI Actuarial Balance and the Annual Balance in the 75th Year,

Expressed as a Percentage of Taxable Payroll

Item 

Estimated Change in 

Long-Range 

Actuarial Balance

(as a percent of payroll)

Estimated Change in 

Long-Range Annual 

Balance in 75th Year 

 (as a percent of payroll)

Proposal: Option 3 – One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

a Progressive indexing of PIA formula factors beginning with 

individuals newly eligible for OASI benefits in 2012, continuing 

through 2021, and then resuming in 2060. 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 is reduced by 1.1 percent per year as compared to current 

law, for the years that progressive indexing applies. Disability 

benefits are not affected by the proposal. Disabled worker 

beneficiaries, upon attaining normal retirement age, would be 

subject to a proportional reduction in benefits based on the 

worker's years of disability ................................................................ 0.63 1.60 

b Increase the payroll tax rate (currently 12.4 percent) to 12.6 

percent in 2012, 12.9 percent in 2020, 13.3 in percent in 2030, 

13.8 percent in 2040, 14.4 percent in 2060, and 14.5 percent in 

2075................................................................................................... 1.02 2.07 

c Apply the following payroll tax rate applies above the currentlaw taxable maximum, with no credit toward benefits: 2.0 

percent in 2012 and 3.0 percent in 2060............................................ 0.41 0.60 

 

Total for all three provisions of Proposal: Option 3, including 

interaction among provisions.......................................................... 2.05 4.24 
18 

Table A—National Academy of Science Proposals: 

Estimated Change in Long-Range OASDI Actuarial Balance and the Annual Balance in the 75th Year,

Expressed as a Percentage of Taxable Payroll

Item 

Estimated Change in 

Long-Range 

Actuarial Balance

(as a percent of payroll)

Estimated Change in 

Long-Range Annual 

Balance in 75th Year 

 (as a percent of payroll)

Proposal: Option 4 – Payroll Tax Increases Only

a Increase the taxable maximum (contribution and benefit base) 

increases by an additional 2 percent over normal indexing 

starting in 2012, until 90 percent of OASDI covered earnings is 

taxable (achieved in 2048). The present-law taxable maximum is 

retained for benefit purposes; no benefit credit is given for 

earnings above the present-law taxable maximum ............................ 0.69 1.06 

b Increase the payroll tax rate (currently 12.4 percent) below the 

current-law taxable maximum to 12.7 percent in 2012, 13.0 

percent in 2025, 13.3 in percent in 2040, 14.0 percent in 2060, 

14.5 percent in 2070, and 14.7 percent in 20801

................................ 0.83 2.25 

c Apply the following payroll tax rates above the current-law 

taxable maximum, with no credit toward benefits: 2.0 percent in 

2012, 3.0 percent in 2025, 3.5 percent in 2040, 4.5 percent in 

2050, and 5.5 percent in 20602 .......................................................... 0.65 1.10 

 

Total for all three provisions of Proposal: Option 4, 

including interaction among provisions......................................... 2.00 4.10 

Notes: 

1

The incremental effect of this provision, after provision 4a, is a change in the 75-year long-range OASDI actuarial 

balance of 0.89 percent of taxable payroll. 2

The incremental effect of this provision, after provisions 4a and 4b, is a change in the 75-year long-range OASDI 

actuarial balance of 0.42 percent of taxable payroll. 

Social Security Administration 

Office of the Chief Actuary 

January 13, 2010 
Year Longevity

Attain Present Law Payable Progressive Index NRA Reduced Benefit

Age 65 Scheduled at 65 Indexing2 1 Mth/ 2 Yrs3 COLA4 Total Amount Scheduled Payable

(Constant 2009 Dollars)

 

2010 638 638

2020 689 689 0.0 6.0 0.9 6.8 642 93 93

2030 716 716 0.0 3.2 0.9 4.1 687 96 96

2040 796 610 0.0 6.4 0.9 7.2 738 93 121

2050 887 697 0.0 9.1 0.9 9.9 799 90 115

2060 987 771 0.0 11.5 0.9 12.3 866 88 112

2075 1,159 877 0.0 14.9 0.9 15.6 977 84 111

2010 834 834

2020 901 901 0.0 6.0 0.9 6.8 840 93 93

2030 936 936 0.0 3.2 0.9 4.1 898 96 96

2040 1,041 798 0.0 6.4 0.9 7.2 966 93 121

2050 1,161 912 0.0 9.1 0.9 9.9 1,045 90 115

2060 1,292 1,009 0.0 11.5 0.9 12.3 1,133 88 112

2075 1,516 1,147 0.0 14.9 0.9 15.6 1,279 84 111

2010 1,375 1,375

2020 1,485 1,485 4.3 6.0 0.9 10.9 1,324 89 89

2030 1,542 1,542 9.3 3.2 0.9 12.9 1,343 87 87

2040 1,715 1,315 14.0 6.4 0.9 20.3 1,367 80 104

2050 1,912 1,503 18.5 9.1 0.9 26.5 1,405 73 93

2060 2,128 1,662 19.3 11.5 0.9 29.2 1,507 71 91

2075 2,497 1,891 20.4 14.9 0.9 32.9 1,676 67 89

2010 1,822 1,822

2020 1,968 1,968 6.4 6.0 0.9 12.8 1,716 87 87

2030 2,044 2,044 13.9 3.2 0.9 17.4 1,689 83 83

2040 2,273 1,743 21.0 6.4 0.9 26.7 1,665 73 96

2050 2,534 1,992 27.6 9.1 0.9 34.8 1,653 65 83

2060 2,821 2,203 28.8 11.5 0.9 37.6 1,760 62 80

2075 3,310 2,506 30.6 14.9 0.9 41.5 1,938 59 77

2010 2,156 2,156

2020 2,396 2,396 7.6 6.0 0.9 13.9 2,062 86 86

2030 2,499 2,499 16.5 3.2 0.9 19.8 2,003 80 80

2040 2,778 2,130 24.9 6.4 0.9 30.3 1,935 70 91

2050 3,094 2,432 32.7 9.1 0.9 39.4 1,875 61 77

2060 3,441 2,687 34.1 11.5 0.9 42.2 1,988 58 74

2075 4,037 3,056 36.2 14.9 0.9 46.2 2,172 54 71

1

 Average of highest 35 years of earnings wage indexed to 2009.

2

 Progressive Indexing (1.1% per year) starting for those newly eligible in 2012, holding harmless the lowest 30% of career-average earners

Reductions for indexing would continue through 2049, and then stay fixed until restarting for newly eligibles in 2070. 3

 Start scheduled increase in NRA to 67 in 2012, after 2017 index for constant ratio of life expectancy at NRA to (NRA-20).

4

 Starting Dec 2012, compute the COLA using a chained CPI-W, producing 0.3% lower annual COLAs on average

All estimates based on the intermediate assumptions of the 2009 Trustees Report.

Steady Maximum Earner ($106,800 for 2009)1

Office of the Actuary

Social Security Administration

January 13, 2010

(Constant 2009 Dollars) (Percent reductions) (Percents)

Scaled Very Low Earner ($10,510 for 2009)1

Scaled Low Earner ($18,919 for 2009)1

Scaled Medium Earner ($42,042 for 2009)1

Scaled High Earner ($67,267 for 2009)1

Percent of Present Law:

Proposal: Option 1, Reductions in the Growth of Benefits Only

Table B1.1 Projected Retired Worker Benefits at Age 65 under National Academy of Sciences

For Worker Retiring at age 65 at Indicated Career-Average Earnings Level1

Proposal Benefit Percent Reduction at age 65

Present Law Benefit Proposal Scheduled Benefit
Year 

Attain Present Law Payable Progressive Benefit

Age 65 Scheduled at 65 Indexing2 Total Amount Scheduled Payable

(Constant 2009 Dollars)

 

2010 638 638

2020 689 689 0.0 0.0 689 100 100

2030 716 716 0.0 0.0 716 100 100

2040 796 610 0.0 0.0 796 100 130

2050 887 697 0.0 0.0 887 100 127

2060 987 771 0.0 0.0 987 100 128

2075 1,159 877 0.0 0.0 1,159 100 132

2010 834 834

2020 901 901 0.0 0.0 901 100 100

2030 936 936 0.0 0.0 936 100 100

2040 1,041 798 0.0 0.0 1,041 100 130

2050 1,161 912 0.0 0.0 1,161 100 127

2060 1,292 1,009 0.0 0.0 1,292 100 128

2075 1,516 1,147 0.0 0.0 1,516 100 132

2010 1,375 1,375

2020 1,485 1,485 4.3 4.3 1,421 96 96

2030 1,542 1,542 9.3 9.3 1,399 91 91

2040 1,715 1,315 14.0 14.0 1,474 86 112

2050 1,912 1,503 18.5 18.5 1,559 82 104

2060 2,128 1,662 22.3 22.3 1,653 78 99

2075 2,497 1,891 23.8 23.8 1,904 76 101

2010 1,822 1,822

2020 1,968 1,968 6.4 6.4 1,842 94 94

2030 2,044 2,044 13.9 13.9 1,761 86 86

2040 2,273 1,743 21.0 21.0 1,795 79 103

2050 2,534 1,992 27.6 27.6 1,835 72 92

2060 2,821 2,203 33.4 33.4 1,878 67 85

2075 3,310 2,506 35.6 35.6 2,133 64 85

2010 2,156 2,156

2020 2,396 2,396 7.6 7.6 2,213 92 92

2030 2,499 2,499 16.5 16.5 2,088 84 84

2040 2,778 2,130 24.9 24.9 2,086 75 98

2050 3,094 2,432 32.7 32.7 2,082 67 86

2060 3,441 2,687 39.6 39.6 2,080 60 77

2075 4,037 3,056 42.1 42.1 2,338 58 77

1

 Average of highest 35 years of earnings wage indexed to 2009.

2

 Progressive Indexing (1.1% per year) starting for those newly eligible in 2012, holding harmless the lowest 30% of career-average earners.

Reductions for indexing would continue through 2061, and then stay fixed for the remainder of the projected period.

All estimates based on the intermediate assumptions of the 2009 Trustees Report.

Steady Maximum Earner ($106,800 for 2009)1

Office of the Actuary

Social Security Administration

January 13, 2010

(Constant 2009 Dollars) (Percent reductions) (Percents)

Scaled Very Low Earner ($10,510 for 2009)1

Scaled Low Earner ($18,919 for 2009) 1

Scaled Medium Earner ($42,042 for 2009)1

Scaled High Earner ($67,267 for 2009)1

Percent of Present Law:

Proposal: Option 2, Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Table B1.2 Projected Retired Worker Benefits at Age 65 under National Academy of Sciences

For Worker Retiring at age 65 at Indicated Career-Average Earnings Level 1

Proposal Benefit Percent Reduction at age 65

Present Law Benefit Proposal Scheduled Benefit
Year 

Attain Present Law Payable Progressive Benefit

Age 65 Scheduled at 65 Indexing2 Total Amount Scheduled Payable

(Constant 2009 Dollars)

 

2010 638 638

2020 689 689 0.0 0.0 689 100 100

2030 716 716 0.0 0.0 716 100 100

2040 796 610 0.0 0.0 796 100 130

2050 887 697 0.0 0.0 887 100 127

2060 987 771 0.0 0.0 987 100 128

2075 1,159 877 0.0 0.0 1,159 100 132

2010 834 834

2020 901 901 0.0 0.0 901 100 100

2030 936 936 0.0 0.0 936 100 100

2040 1,041 798 0.0 0.0 1,041 100 130

2050 1,161 912 0.0 0.0 1,161 100 127

2060 1,292 1,009 0.0 0.0 1,292 100 128

2075 1,516 1,147 0.0 0.0 1,516 100 132

2010 1,375 1,375

2020 1,485 1,485 4.3 4.3 1,421 96 96

2030 1,542 1,542 6.3 6.3 1,445 94 94

2040 1,715 1,315 6.3 6.3 1,607 94 122

2050 1,912 1,503 6.3 6.3 1,792 94 119

2060 2,128 1,662 6.3 6.3 1,994 94 120

2075 2,497 1,891 12.6 12.6 2,182 87 115

2010 1,822 1,822

2020 1,968 1,968 6.4 6.4 1,842 94 94

2030 2,044 2,044 9.4 9.4 1,851 91 91

2040 2,273 1,743 9.4 9.4 2,059 91 118

2050 2,534 1,992 9.4 9.4 2,295 91 115

2060 2,821 2,203 9.4 9.4 2,555 91 116

2075 3,310 2,506 18.9 18.9 2,684 81 107

2010 2,156 2,156

2020 2,396 2,396 7.6 7.6 2,213 92 92

2030 2,499 2,499 11.2 11.2 2,220 89 89

2040 2,778 2,130 11.2 11.2 2,467 89 116

2050 3,094 2,432 11.2 11.2 2,748 89 113

2060 3,441 2,687 11.2 11.2 3,057 89 114

2075 4,037 3,056 22.4 22.4 3,134 78 103

1

 Average of highest 35 years of earnings wage indexed to 2009.

2

 Progressive Indexing (1.1% per year) starting for those newly eligible in 2012, holding harmless the lowest 30% of career-average earners.

Reductions for indexing would continue through 2021, and then stay fixed until restarting for newly eligibles in 2060 and later.

All estimates based on the intermediate assumptions of the 2009 Trustees Report.

Steady Maximum Earner ($106,800 for 2009)1

Office of the Actuary

Social Security Administration

January 13, 2010

(Constant 2009 Dollars) (Percent reductions) (Percents)

Scaled Very Low Earner ($10,510 for 2009)1

Scaled Low Earner ($18,919 for 2009) 1

Scaled Medium Earner ($42,042 for 2009)1

Scaled High Earner ($67,267 for 2009)1

Percent of Present Law:

Proposal: Option 3, One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Table B1.3 Projected Retired Worker Benefits at Age 65 under National Academy of Sciences

For Worker Retiring at age 65 at Indicated Career-Average Earnings Level 1

Proposal Benefit Percent Reduction at age 65

Present Law Benefit Proposal Scheduled Benefit
Year Longevity

Attain Present Law Payable Progressive Index NRA Reduced Benefit

Age 65 Scheduled at 65 Indexing2 1 Mth/ 2 Yrs3 COLA4 Total Amount Scheduled Payable

(Constant 2009 Dollars)

 

2000 564 564

2010 638 638

2020 689 689 0.0 6.0 0.9 6.8 642 93 93

2035 754 754 0.0 4.5 0.9 5.3 714 95 95

2050 887 697 0.0 9.1 0.9 9.9 799 90 115

2065 1,041 807 0.0 12.5 0.9 13.3 903 87 112

2082 1,249 926 0.0 16.8 0.9 17.6 1,029 82 111

2000 738 738

2010 834 834

2020 901 901 0.0 6.0 0.9 6.8 840 93 93

2035 986 986 0.0 4.5 0.9 5.3 934 95 95

2050 1,161 912 0.0 9.1 0.9 9.9 1,045 90 115

2065 1,362 1,056 0.0 12.5 0.9 13.3 1,181 87 112

2082 1,633 1,212 0.0 16.8 0.9 17.6 1,347 82 111

2000 1,217 1,217

2010 1,375 1,375

2020 1,485 1,485 4.3 6.0 0.9 10.9 1,324 89 89

2035 1,625 1,625 11.7 4.5 0.9 16.4 1,359 84 84

2050 1,912 1,503 18.5 9.1 0.9 26.5 1,405 73 93

2065 2,244 1,739 19.3 12.5 0.9 30.0 1,572 70 90

2082 2,691 1,997 23.1 16.8 0.9 36.6 1,707 63 86

2000 1,582 1,582

2010 1,822 1,822

2020 1,968 1,968 6.4 6.0 0.9 12.8 1,716 87 87

2035 2,154 2,154 17.5 4.5 0.9 21.9 1,683 78 78

2050 2,534 1,992 27.6 9.1 0.9 34.8 1,653 65 83

2065 2,974 2,305 28.8 12.5 0.9 38.3 1,836 62 80

2082 3,567 2,646 34.5 16.8 0.9 46.0 1,926 54 73

2000 1,779 1,779

2010 2,156 2,156

2020 2,396 2,396 7.6 6.0 0.9 13.9 2,062 86 86

2035 2,634 2,634 20.7 4.5 0.9 25.0 1,977 75 75

2050 3,094 2,432 32.7 9.1 0.9 39.4 1,875 61 77

2065 3,628 2,812 34.1 12.5 0.9 42.9 2,073 57 74

2082 4,350 3,228 40.8 16.8 0.9 51.2 2,122 49 66

1

 Average of highest 35 years of earnings wage indexed to 2009.

2

 Progressive Indexing (1.1% per year) starting for those newly eligible in 2012, holding harmless the lowest 30% of career-average earners

Reductions for indexing would continue through 2049, and then stay fixed until restarting for newly eligibles in 2070. 3

 Start scheduled increase in NRA to 67 in 2012, after 2017 index for constant ratio of life expectancy at NRA to (NRA-20).

4

 Starting Dec 2012, compute the COLA using a chained CPI-W, producing 0.3% lower annual COLAs on average

All estimates based on the intermediate assumptions of the 2009 Trustees Report.

Steady Maximum Earner ($106,800 for 2009)1

Office of the Actuary

Social Security Administration

January 13, 2010

(Constant 2009 Dollars) (Percent reductions) (Percents)

Scaled Very Low Earner ($10,510 for 2009)1

Scaled Low Earner ($18,919 for 2009)1

Scaled Medium Earner ($42,042 for 2009)1

Scaled High Earner ($67,267 for 2009)1

Percent of Present Law:

Proposal: Option 1, Reductions in the Growth of Benefits Only

Table B2.1 Projected Retired Worker Benefits at Age 65 under National Academy of Sciences

For Worker Retiring at age 65 at Indicated Career-Average Earnings Level1

Proposal Benefit Percent Reduction at age 65

Present Law Benefit Proposal Scheduled Benefit
Year 

Attain Present Law Payable Progressive Benefit

Age 65 Scheduled at 65 Indexing2 Total Amount Scheduled Payable

(Constant 2009 Dollars)

 

2000 564 564

2010 638 638

2020 689 689 0.0 0.0 689 100 100

2035 754 754 0.0 0.0 754 100 100

2050 887 697 0.0 0.0 887 100 127

2065 1,041 807 0.0 0.0 1,041 100 129

2082 1,249 926 0.0 0.0 1,249 100 135

2000 738 738

2010 834 834

2020 901 901 0.0 0.0 901 100 100

2035 986 986 0.0 0.0 986 100 100

2050 1,161 912 0.0 0.0 1,161 100 127

2065 1,362 1,056 0.0 0.0 1,362 100 129

2082 1,633 1,212 0.0 0.0 1,633 100 135

2000 1,217 1,217

2010 1,375 1,375

2020 1,485 1,485 4.3 4.3 1,421 96 96

2035 1,625 1,625 11.7 11.7 1,435 88 88

2050 1,912 1,503 18.5 18.5 1,559 82 104

2065 2,244 1,739 23.8 23.8 1,711 76 98

2082 2,691 1,997 23.8 23.8 2,052 76 103

2000 1,582 1,582

2010 1,822 1,822

2020 1,968 1,968 6.4 6.4 1,842 94 94

2035 2,154 2,154 17.5 17.5 1,777 83 83

2050 2,534 1,992 27.6 27.6 1,835 72 92

2065 2,974 2,305 35.6 35.6 1,917 64 83

2082 3,567 2,646 35.6 35.6 2,299 64 87

2000 1,779 1,779

2010 2,156 2,156

2020 2,396 2,396 7.6 7.6 2,213 92 92

2035 2,634 2,634 20.7 20.7 2,088 79 79

2050 3,094 2,432 32.7 32.7 2,082 67 86

2065 3,628 2,812 42.1 42.1 2,101 58 75

2082 4,350 3,228 42.1 42.1 2,520 58 78

1

 Average of highest 35 years of earnings wage indexed to 2009.

2

 Progressive Indexing (1.1% per year) starting for those newly eligible in 2012, holding harmless the lowest 30% of career-average earners.

Reductions for indexing would continue through 2061, and then stay fixed for the remainder of the projected period.

All estimates based on the intermediate assumptions of the 2009 Trustees Report.

Steady Maximum Earner ($106,800 for 2009)1

Office of the Actuary

Social Security Administration

January 13, 2010

(Constant 2009 Dollars) (Percent reductions) (Percents)

Scaled Very Low Earner ($10,510 for 2009)1

Scaled Low Earner ($18,919 for 2009) 1

Scaled Medium Earner ($42,042 for 2009)1

Scaled High Earner ($67,267 for 2009)1

Percent of Present Law:

Proposal: Option 2, Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Table B2.2 Projected Retired Worker Benefits at Age 65 under National Academy of Sciences

For Worker Retiring at age 65 at Indicated Career-Average Earnings Level 1

Proposal Benefit Percent Reduction at age 65

Present Law Benefit Proposal Scheduled Benefit
Year 

Attain Present Law Payable Progressive Benefit

Age 65 Scheduled at 65 Indexing2 Total Amount Scheduled Payable

(Constant 2009 Dollars)

 

2000 564 564

2010 638 638

2020 689 689 0.0 0.0 689 100 100

2035 754 754 0.0 0.0 754 100 100

2050 887 697 0.0 0.0 887 100 127

2065 1,041 807 0.0 0.0 1,041 100 129

2082 1,249 926 0.0 0.0 1,249 100 135

2000 738 738

2010 834 834

2020 901 901 0.0 0.0 901 100 100

2035 986 986 0.0 0.0 986 100 100

2050 1,161 912 0.0 0.0 1,161 100 127

2065 1,362 1,056 0.0 0.0 1,362 100 129

2082 1,633 1,212 0.0 0.0 1,633 100 135

2000 1,217 1,217

2010 1,375 1,375

2020 1,485 1,485 4.3 4.3 1,421 96 96

2035 1,625 1,625 6.3 6.3 1,523 94 94

2050 1,912 1,503 6.3 6.3 1,792 94 119

2065 2,244 1,739 7.8 7.8 2,069 92 119

2082 2,691 1,997 15.9 15.9 2,264 84 113

2000 1,582 1,582

2010 1,822 1,822

2020 1,968 1,968 6.4 6.4 1,842 94 94

2035 2,154 2,154 9.4 9.4 1,951 91 91

2050 2,534 1,992 9.4 9.4 2,295 91 115

2065 2,974 2,305 11.7 11.7 2,627 88 114

2082 3,567 2,646 23.7 23.7 2,720 76 103

2000 1,779 1,779

2010 2,156 2,156

2020 2,396 2,396 7.6 7.6 2,213 92 92

2035 2,634 2,634 11.2 11.2 2,340 89 89

2050 3,094 2,432 11.2 11.2 2,748 89 113

2065 3,628 2,812 13.8 13.8 3,126 86 111

2082 4,350 3,228 28.1 28.1 3,128 72 97

1

 Average of highest 35 years of earnings wage indexed to 2009.

2

 Progressive Indexing (1.1% per year) starting for those newly eligible in 2012, holding harmless the lowest 30% of career-average earners.

Reductions for indexing would continue through 2021, and then stay fixed until restarting for newly eligibles in 2060 and later.

All estimates based on the intermediate assumptions of the 2009 Trustees Report.

Steady Maximum Earner ($106,800 for 2009)1

Office of the Actuary

Social Security Administration

January 13, 2010

(Constant 2009 Dollars) (Percent reductions) (Percents)

Scaled Very Low Earner ($10,510 for 2009)1

Scaled Low Earner ($18,919 for 2009) 1

Scaled Medium Earner ($42,042 for 2009)1

Scaled High Earner ($67,267 for 2009)1

Percent of Present Law:

Proposal: Option 3, One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Table B2.3 Projected Retired Worker Benefits at Age 65 under National Academy of Sciences

For Worker Retiring at age 65 at Indicated Career-Average Earnings Level 1

Proposal Benefit Percent Reduction at age 65

Present Law Benefit Proposal Scheduled Benefit
Table C. Social Security Payroll Tax to Be Paid by Hypothetical W

(in constant 2009 dollars)

Proposal: Option 1 Proposal: Option 2 Proposal: Opti

Year

Earnings 

Levels Current Law

Reductions in the Growth of Benefits Only

Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

One-Third Benefit-GReductions & Two-TPayroll Tax Increases

2010 $42,702 $5,295 $5,295 $5,295 $5,295 2020 47,733 5,919 5,919 6,158 6,158 2035 55,832 6,923 6,923 7,314 7,426 2050 65,696 8,146 8,146 8,869 9,066 2065 77,073 9,557 9,557 10,251 11,099 2082 92,405 11,458 11,458 12,290 13,399 

Annual Taxes Paid by A Worker Earning $67,300 in 2009 dollars (scaled high earner's career-average earnings) 

2010 $68,391 $8,481 $8,481 $8,481 $8,481 2020 76,450 9,480 9,480 9,862 9,862 2035 89,420 11,088 11,088 11,714 11,893 2050 105,219 13,047 13,047 14,205 14,520 2065 123,440 15,307 15,307 16,418 17,775 2082 147,995 18,351 18,351 19,683 21,459 

Annual Taxes Paid by A Worker Earning $106,800 in 2009 dollars (steady maximum earner) 

2010 $105,063 1 $13,028 $13,028 $13,028 $13,028 

2020 117,110 14,522 14,522 15,107 15,107 2035 136,731 16,955 16,955 17,912 18,185 2050 160,964 19,960 19,960 21,730 22,213 2065 188,835 23,415 23,415 25,115 27,192 2082 226,392 28,073 28,073 30,110 32,827 2010 $203,343 $13,028 $13,028 $13,028 $13,028 2020 227,302 14,522 14,522 15,107 17,311 2035 265,867 16,955 16,955 17,912 20,768 2050 312,839 19,960 19,960 21,730 25,250 2065 367,015 23,415 23,415 25,115 32,538 2082 440,024 28,073 28,073 30,110 39,236 

1 The tax maximum in nominal dollars for 2010 equals that for 2009 (as specified in law, the tax maximum does not increase for a given year 

 if no COLA was granted in the prior Dec.; Thus, the constant dollar amount for 2010 is less than that for 2009. 

Based on the intermediate assumptions of the 2009 Trustees Report. 

Annual Taxes Paid by A Worker Earning $42,000 in 2009 dollars (scaled medium earner's career-average earninAnnual Taxes Paid by A Worker Earning $200,000 in 2009 dollars (very high earner) 
Table 1 - NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

Progressive indexing (1.1%) 2012 to 2049 restart 2070, with disabled held harmless and proportional at conversion;

Increase NRA and EEA 2 months per year for 6 years beginning 2012; then index both to life expectancy; 

Beginning 2012, use chained CPI in computing the COLA.

OASDI

Cost Income Annual TFR Contribution

Year Rate Rate Balance 1-1-yr Rate

2009 12.35 12.83 0.48 354 12.40

2010 12.50 12.87 0.37 360 12.40

2011 12.37 12.87 0.50 366 12.40

2012 12.23 12.87 0.64 369 12.40

2013 12.33 12.90 0.57 369 12.40

2014 12.50 12.92 0.42 368 12.40

2015 12.66 12.94 0.28 367 12.40

2016 12.82 12.96 0.14 367 12.40

2017 13.01 12.98 -0.03 365 12.40

2018 13.23 12.99 -0.24 362 12.40

2019 13.47 13.01 -0.46 357 12.40

2020 13.71 13.03 -0.68 351 12.40

2021 13.95 13.04 -0.90 345 12.40

2022 14.17 13.06 -1.11 337 12.40

2023 14.38 13.07 -1.30 329 12.40

2024 14.57 13.09 -1.49 320 12.40

2025 14.75 13.10 -1.65 311 12.40

2026 14.93 13.11 -1.81 301 12.40

2027 15.07 13.13 -1.95 290 12.40

2028 15.20 13.14 -2.06 279 12.40

2029 15.28 13.15 -2.13 268 12.40

2030 15.35 13.16 -2.19 257 12.40

2031 15.38 13.16 -2.21 246 12.40

2032 15.38 13.17 -2.21 234 12.40

2033 15.37 13.17 -2.20 224 12.40

2034 15.34 13.18 -2.16 213 12.40

2035 15.29 13.18 -2.11 202 12.40

2036 15.24 13.18 -2.06 192 12.40

2037 15.17 13.18 -1.99 182 12.40

2038 15.07 13.18 -1.89 172 12.40

2039 14.96 13.17 -1.78 163 12.40

2040 14.84 13.17 -1.67 155 12.40

2041 14.71 13.17 -1.55 147 12.40

2042 14.59 13.16 -1.43 140 12.40

2043 14.47 13.16 -1.31 133 12.40

2044 14.36 13.16 -1.20 126 12.40

2045 14.25 13.15 -1.10 121 12.40

2046 14.15 13.15 -1.00 115 12.40

2047 14.06 13.15 -0.91 111 12.40

2048 13.96 13.15 -0.81 106 12.40

2049 13.86 13.14 -0.72 103 12.40

2050 13.77 13.14 -0.63 100 12.40

2051 13.68 13.14 -0.54 97 12.40

2052 13.60 13.14 -0.46 95 12.40

2053 13.54 13.14 -0.40 93 12.40

2054 13.47 13.14 -0.34 92 12.40

2055 13.42 13.14 -0.29 91 12.40

2056 13.38 13.14 -0.24 90 12.40

2057 13.34 13.14 -0.21 90 12.40

2058 13.31 13.14 -0.17 90 12.40

2059 13.27 13.14 -0.14 90 12.40

2060 13.24 13.14 -0.10 90 12.40

2061 13.22 13.14 -0.08 91 12.40

2062 13.20 13.14 -0.06 92 12.40

2063 13.17 13.14 -0.03 93 12.40

2064 13.15 13.14 -0.01 94 12.40

2065 13.14 13.14 0.01 95 12.40

2066 13.11 13.14 0.03 96 12.40

2067 13.10 13.14 0.04 98 12.40

2068 13.10 13.14 0.04 100 12.40

2069 13.11 13.14 0.04 101 12.40

2070 13.12 13.15 0.03 103 12.40

2071 13.14 13.15 0.01 104 12.40

2072 13.15 13.15 0.00 105 12.40

2073 13.17 13.15 -0.02 107 12.40

2074 13.19 13.15 -0.04 108 12.40

2075 13.21 13.15 -0.06 109 12.40

2076 13.23 13.16 -0.08 110 12.40

2077 13.25 13.16 -0.09 110 12.40

2078 13.27 13.16 -0.11 111 12.40

2079 13.28 13.16 -0.12 112 12.40

2080 13.30 13.16 -0.13 112 12.40

2081 13.30 13.16 -0.14 113 12.40

2082 13.31 13.16 -0.15 113 12.40

2083 13.32 13.16 -0.15 113 12.40

2084 13.32 13.16 -0.16 114 12.40

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 13.93 13.94 0.01 2.02

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 2 - NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Progressive indexing (1.1%) 2012 to 2061, with disabled held harmless and proportional at conversion;

Increase payroll tax rate starting in 2012, ultimately to 13.3 percent in 2060.

Specified

Contribution Rate Effective OASDI

Cost Income Annual TFR Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.23 13.05 0.82 369 12.60 12.58

2013 12.36 13.09 0.73 369 12.60 12.59

2014 12.59 13.11 0.51 368 12.60 12.59

2015 12.83 13.13 0.30 365 12.60 12.59

2016 13.11 13.15 0.04 362 12.60 12.59

2017 13.40 13.17 -0.23 357 12.60 12.59

2018 13.70 13.18 -0.51 351 12.60 12.59

2019 14.00 13.20 -0.79 343 12.60 12.59

2020 14.29 13.50 -0.79 334 12.90 12.87

2021 14.55 13.53 -1.03 327 12.90 12.88

2022 14.79 13.54 -1.25 318 12.90 12.88

2023 15.01 13.56 -1.45 310 12.90 12.88

2024 15.22 13.57 -1.64 300 12.90 12.88

2025 15.40 13.59 -1.82 290 12.90 12.88

2026 15.57 13.60 -1.97 280 12.90 12.88

2027 15.71 13.61 -2.10 269 12.90 12.88

2028 15.84 13.62 -2.22 257 12.90 12.88

2029 15.93 13.63 -2.30 245 12.90 12.88

2030 16.01 13.82 -2.19 233 13.10 13.06

2031 16.06 13.84 -2.23 222 13.10 13.07

2032 16.09 13.84 -2.25 211 13.10 13.07

2033 16.10 13.85 -2.25 200 13.10 13.07

2034 16.08 13.85 -2.23 189 13.10 13.07

2035 16.04 13.85 -2.19 178 13.10 13.07

2036 15.99 13.85 -2.14 168 13.10 13.07

2037 15.93 13.85 -2.07 157 13.10 13.07

2038 15.84 13.85 -1.99 147 13.10 13.07

2039 15.74 13.85 -1.89 137 13.10 13.07

2040 15.63 14.58 -1.06 128 13.90 13.80

2041 15.52 14.60 -0.92 124 13.90 13.83

2042 15.41 14.60 -0.81 121 13.90 13.83

2043 15.30 14.60 -0.71 118 13.90 13.83

2044 15.20 14.59 -0.60 115 13.90 13.83

2045 15.10 14.59 -0.51 114 13.90 13.83

2046 15.00 14.59 -0.42 112 13.90 13.83

2047 14.92 14.58 -0.33 112 13.90 13.83

2048 14.83 14.58 -0.25 112 13.90 13.83

2049 14.74 14.58 -0.16 112 13.90 13.83

2050 14.66 14.21 -0.45 113 13.50 13.47

2051 14.59 14.19 -0.40 112 13.50 13.45

2052 14.52 14.19 -0.33 111 13.50 13.45

2053 14.46 14.19 -0.28 111 13.50 13.45

2054 14.41 14.19 -0.23 111 13.50 13.45

2055 14.37 14.19 -0.18 111 13.50 13.45

2056 14.32 14.18 -0.14 112 13.50 13.45

2057 14.28 14.18 -0.10 113 13.50 13.45

2058 14.24 14.18 -0.06 114 13.50 13.45

2059 14.20 14.18 -0.02 115 13.50 13.45

2060 14.16 14.00 -0.17 117 13.30 13.27

2061 14.13 13.99 -0.14 117 13.30 13.26

2062 14.09 13.99 -0.10 118 13.30 13.26

2063 14.06 13.99 -0.07 119 13.30 13.26

2064 14.03 13.99 -0.04 121 13.30 13.26

2065 14.00 13.99 -0.02 122 13.30 13.26

2066 13.98 13.99 0.00 124 13.30 13.26

2067 13.97 13.99 0.02 126 13.30 13.26

2068 13.95 13.99 0.03 128 13.30 13.26

2069 13.94 13.99 0.04 130 13.30 13.26

2070 13.94 13.99 0.05 132 13.30 13.26

2071 13.94 13.99 0.05 134 13.30 13.26

2072 13.94 13.99 0.05 136 13.30 13.26

2073 13.94 13.99 0.05 138 13.30 13.26

2074 13.95 13.99 0.04 140 13.30 13.26

2075 13.95 13.99 0.04 142 13.30 13.26

2076 13.97 13.99 0.03 144 13.30 13.27

2077 13.98 13.99 0.01 146 13.30 13.27

2078 14.00 14.00 0.00 148 13.30 13.27

2079 14.02 14.00 -0.02 150 13.30 13.27

2080 14.04 14.00 -0.04 152 13.30 13.27

2081 14.06 14.00 -0.06 153 13.30 13.27

2082 14.09 14.00 -0.09 155 13.30 13.27

2083 14.12 14.01 -0.11 156 13.30 13.27

2084 14.15 14.01 -0.14 157 13.30 13.27

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 14.59 14.65 0.06 2.07

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 3 - NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Progressive indexing (1.1%) 2012 to 2021 restart 2060, with disabled held harmless and proportional at conversion;

Increase payroll tax rate starting in 2012, ultimately to 14.5% in 2075;

Beginning in 2012, apply 2% payroll tax rate above the tax maximum (increase to 3% in 2060), no benefit credit.

Specifed Specified

Contribution Rate Contribution Rate Effective OASDI

Cost Income Annual TFR Above New Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.23 13.39 1.15 369 2.00 12.60 12.92

2013 12.37 13.45 1.08 372 2.00 12.60 12.95

2014 12.60 13.47 0.87 373 2.00 12.60 12.95

2015 12.84 13.50 0.65 373 2.00 12.60 12.96

2016 13.13 13.52 0.39 372 2.00 12.60 12.96

2017 13.42 13.54 0.12 369 2.00 12.60 12.96

2018 13.73 13.56 -0.17 365 2.00 12.60 12.96

2019 14.03 13.58 -0.45 359 2.00 12.60 12.96

2020 14.33 13.87 -0.45 353 2.00 12.90 13.24

2021 14.59 13.90 -0.69 347 2.00 12.90 13.25

2022 14.84 13.92 -0.92 341 2.00 12.90 13.25

2023 15.07 13.93 -1.13 334 2.00 12.90 13.25

2024 15.28 13.95 -1.33 327 2.00 12.90 13.25

2025 15.47 13.96 -1.51 319 2.00 12.90 13.25

2026 15.65 13.98 -1.67 310 2.00 12.90 13.25

2027 15.81 13.99 -1.82 301 2.00 12.90 13.25

2028 15.95 14.00 -1.95 291 2.00 12.90 13.25

2029 16.07 14.01 -2.06 281 2.00 12.90 13.25

2030 16.17 14.39 -1.78 270 2.00 13.30 13.62

2031 16.25 14.41 -1.84 262 2.00 13.30 13.63

2032 16.30 14.42 -1.89 253 2.00 13.30 13.63

2033 16.34 14.42 -1.92 245 2.00 13.30 13.63

2034 16.36 14.43 -1.93 236 2.00 13.30 13.63

2035 16.36 14.43 -1.93 227 2.00 13.30 13.63

2036 16.35 14.44 -1.91 219 2.00 13.30 13.63

2037 16.32 14.44 -1.88 211 2.00 13.30 13.63

2038 16.28 14.44 -1.84 202 2.00 13.30 13.63

2039 16.22 14.44 -1.78 194 2.00 13.30 13.64

2040 16.16 14.90 -1.26 187 2.00 13.80 14.09

2041 16.09 14.91 -1.18 182 2.00 13.80 14.11

2042 16.03 14.91 -1.11 178 2.00 13.80 14.11

2043 15.96 14.91 -1.05 174 2.00 13.80 14.11

2044 15.91 14.91 -1.00 170 2.00 13.80 14.11

2045 15.86 14.91 -0.95 167 2.00 13.80 14.11

2046 15.82 14.91 -0.91 163 2.00 13.80 14.11

2047 15.79 14.91 -0.88 160 2.00 13.80 14.11

2048 15.76 14.91 -0.84 157 2.00 13.80 14.11

2049 15.72 14.91 -0.81 154 2.00 13.80 14.11

2050 15.70 14.91 -0.78 151 2.00 13.80 14.11

2051 15.68 14.91 -0.77 148 2.00 13.80 14.11

2052 15.67 14.92 -0.76 146 2.00 13.80 14.11

2053 15.67 14.92 -0.75 143 2.00 13.80 14.12

2054 15.68 14.92 -0.76 140 2.00 13.80 14.12

2055 15.69 14.92 -0.77 137 2.00 13.80 14.12

2056 15.71 14.93 -0.78 134 2.00 13.80 14.12

2057 15.73 14.93 -0.80 130 2.00 13.80 14.12

2058 15.75 14.93 -0.81 127 2.00 13.80 14.12

2059 15.76 14.93 -0.83 123 2.00 13.80 14.12

2060 15.78 15.67 -0.12 120 3.00 14.40 14.85

2061 15.80 15.70 -0.10 120 3.00 14.40 14.88

2062 15.82 15.70 -0.12 121 3.00 14.40 14.88

2063 15.84 15.70 -0.13 122 3.00 14.40 14.88

2064 15.85 15.71 -0.15 122 3.00 14.40 14.88

2065 15.87 15.71 -0.16 123 3.00 14.40 14.88

2066 15.89 15.71 -0.18 124 3.00 14.40 14.88

2067 15.90 15.71 -0.19 124 3.00 14.40 14.88

2068 15.92 15.72 -0.20 124 3.00 14.40 14.88

2069 15.93 15.72 -0.21 125 3.00 14.40 14.88

2070 15.94 15.72 -0.22 125 3.00 14.40 14.89

2071 15.95 15.72 -0.23 125 3.00 14.40 14.89

2072 15.96 15.73 -0.24 125 3.00 14.40 14.89

2073 15.97 15.73 -0.24 125 3.00 14.40 14.89

2074 15.97 15.73 -0.24 126 3.00 14.40 14.89

2075 15.97 15.82 -0.15 126 3.00 14.50 14.98

2076 15.97 15.83 -0.15 126 3.00 14.50 14.99

2077 15.97 15.83 -0.14 127 3.00 14.50 14.99

2078 15.97 15.83 -0.14 128 3.00 14.50 14.99

2079 15.97 15.83 -0.14 129 3.00 14.50 14.99

2080 15.96 15.83 -0.13 130 3.00 14.50 14.99

2081 15.96 15.83 -0.12 131 3.00 14.50 14.99

2082 15.95 15.84 -0.12 132 3.00 14.50 14.99

2083 15.94 15.84 -0.10 133 3.00 14.50 14.99

2084 15.93 15.84 -0.09 135 3.00 14.50 14.99

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 15.34 15.38 0.04 2.05

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 4 - NAS Proposal: Option 4 -- Payroll Tax Increases Only

Increase tax maximum an additional 2% from 2012-48, no benefit credit;

Increase payroll tax rate starting in 2012, ultimately to 14.7% in 2080;

Beginning in 2012, apply 2% payroll tax rate above the new tax maximum (increase to ultimately 5.5% in 2060), no benefit credit.

Specifed Specified

Contribution Rate Contribution Rate Effective OASDI

Cost Income Annual TFR Above New Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.24 13.51 1.28 369 2.00 12.70 13.04

2013 12.38 13.61 1.23 372 2.00 12.70 13.11

2014 12.62 13.66 1.04 374 2.00 12.70 13.15

2015 12.88 13.73 0.85 375 2.00 12.70 13.19

2016 13.18 13.78 0.60 375 2.00 12.70 13.22

2017 13.49 13.83 0.34 374 2.00 12.70 13.25

2018 13.83 13.88 0.05 370 2.00 12.70 13.28

2019 14.16 13.93 -0.23 365 2.00 12.70 13.31

2020 14.50 13.98 -0.51 359 2.00 12.70 13.34

2021 14.80 14.03 -0.77 352 2.00 12.70 13.37

2022 15.09 14.08 -1.01 345 2.00 12.70 13.40

2023 15.36 14.12 -1.24 337 2.00 12.70 13.42

2024 15.62 14.16 -1.45 328 2.00 12.70 13.45

2025 15.85 14.63 -1.22 319 3.00 13.00 13.90

2026 16.07 14.69 -1.39 311 3.00 13.00 13.94

2027 16.27 14.72 -1.55 303 3.00 13.00 13.96

2028 16.46 14.76 -1.70 295 3.00 13.00 13.99

2029 16.61 14.79 -1.82 286 3.00 13.00 14.01

2030 16.75 14.83 -1.92 277 3.00 13.00 14.03

2031 16.86 14.86 -2.00 267 3.00 13.00 14.05

2032 16.95 14.89 -2.06 258 3.00 13.00 14.07

2033 17.02 14.91 -2.10 248 3.00 13.00 14.09

2034 17.06 14.94 -2.12 239 3.00 13.00 14.11

2035 17.08 14.96 -2.12 229 3.00 13.00 14.13

2036 17.09 14.99 -2.10 220 3.00 13.00 14.15

2037 17.09 15.01 -2.08 211 3.00 13.00 14.16

2038 17.06 15.03 -2.03 202 3.00 13.00 14.18

2039 17.02 15.05 -1.97 193 3.00 13.00 14.20

2040 16.97 15.42 -1.55 184 3.50 13.30 14.57

2041 16.91 15.45 -1.46 178 3.50 13.30 14.60

2042 16.86 15.46 -1.39 172 3.50 13.30 14.62

2043 16.80 15.48 -1.32 167 3.50 13.30 14.63

2044 16.76 15.50 -1.26 162 3.50 13.30 14.65

2045 16.72 15.51 -1.20 157 3.50 13.30 14.67

2046 16.68 15.53 -1.15 152 3.50 13.30 14.68

2047 16.65 15.55 -1.11 147 3.50 13.30 14.70

2048 16.62 15.56 -1.06 143 3.50 13.30 14.72

2049 16.59 15.56 -1.03 139 3.50 13.30 14.72

2050 16.57 15.67 -0.90 135 4.50 13.30 14.82

2051 16.55 15.67 -0.88 131 4.50 13.30 14.82

2052 16.54 15.68 -0.87 128 4.50 13.30 14.83

2053 16.54 15.68 -0.87 124 4.50 13.30 14.83

2054 16.55 15.68 -0.87 121 4.50 13.30 14.83

2055 16.56 15.68 -0.88 117 4.50 13.30 14.83

2056 16.58 15.69 -0.90 113 4.50 13.30 14.83

2057 16.60 15.69 -0.91 109 4.50 13.30 14.83

2058 16.63 15.69 -0.93 105 4.50 13.30 14.83

2059 16.65 15.70 -0.95 101 4.50 13.30 14.83

2060 16.67 16.49 -0.17 96 5.50 14.00 15.63

2061 16.69 16.53 -0.16 96 5.50 14.00 15.66

2062 16.71 16.53 -0.18 97 5.50 14.00 15.66

2063 16.73 16.54 -0.20 97 5.50 14.00 15.66

2064 16.76 16.54 -0.22 97 5.50 14.00 15.66

2065 16.79 16.54 -0.25 97 5.50 14.00 15.66

2066 16.82 16.55 -0.27 96 5.50 14.00 15.67

2067 16.86 16.55 -0.30 96 5.50 14.00 15.67

2068 16.89 16.56 -0.34 95 5.50 14.00 15.67

2069 16.93 16.56 -0.37 94 5.50 14.00 15.67

2070 16.97 17.06 0.09 93 5.50 14.50 16.16

2071 17.01 17.08 0.07 94 5.50 14.50 16.18

2072 17.06 17.09 0.03 96 5.50 14.50 16.19

2073 17.10 17.09 -0.01 97 5.50 14.50 16.19

2074 17.14 17.10 -0.05 98 5.50 14.50 16.19

2075 17.19 17.10 -0.09 99 5.50 14.50 16.19

2076 17.23 17.11 -0.13 99 5.50 14.50 16.19

2077 17.28 17.11 -0.17 100 5.50 14.50 16.19

2078 17.33 17.12 -0.21 100 5.50 14.50 16.20

2079 17.38 17.12 -0.26 100 5.50 14.50 16.20

2080 17.43 17.32 -0.11 99 5.50 14.70 16.40

2081 17.48 17.34 -0.15 100 5.50 14.70 16.41

2082 17.53 17.34 -0.19 100 5.50 14.70 16.41

2083 17.58 17.35 -0.24 100 5.50 14.70 16.41

2084 17.64 17.35 -0.28 100 5.50 14.70 16.41

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 15.99 15.99 0.00 2.00

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 1.05 - NAS Proposal: Option 1 with 5 year delay in implementation

Progressive indexing (1.1%) 2017 to 2054 restart 2075, with disabled held harmless and proportional at conversion;

Increase EEA 2 months per year for 6 years beginning 2017; then index EEA and NRA to life expectancy; 

Beginning 2017, use chained CPI in computing the COLA.

OASDI

Cost Income Annual TFR Contribution

Year Rate Rate Balance 1-1-yr Rate

2009 12.35 12.83 0.48 354 12.40

2010 12.50 12.87 0.37 360 12.40

2011 12.37 12.87 0.50 366 12.40

2012 12.24 12.87 0.63 369 12.40

2013 12.38 12.90 0.52 367 12.40

2014 12.62 12.92 0.30 364 12.40

2015 12.88 12.94 0.06 359 12.40

2016 13.18 12.96 -0.22 354 12.40

2017 13.49 12.99 -0.51 347 12.40

2018 13.78 13.00 -0.78 339 12.40

2019 14.03 13.02 -1.01 331 12.40

2020 14.25 13.04 -1.21 322 12.40

2021 14.40 13.05 -1.34 314 12.40

2022 14.54 13.07 -1.48 306 12.40

2023 14.69 13.08 -1.61 296 12.40

2024 14.84 13.10 -1.75 287 12.40

2025 14.99 13.11 -1.88 277 12.40

2026 15.14 13.12 -2.01 265 12.40

2027 15.27 13.13 -2.14 254 12.40

2028 15.40 13.14 -2.25 242 12.40

2029 15.49 13.15 -2.34 229 12.40

2030 15.57 13.16 -2.41 216 12.40

2031 15.64 13.17 -2.47 203 12.40

2032 15.68 13.18 -2.50 189 12.40

2033 15.70 13.18 -2.51 176 12.40

2034 15.68 13.19 -2.49 163 12.40

2035 15.64 13.19 -2.45 149 12.40

2036 15.58 13.19 -2.39 136 12.40

2037 15.51 13.19 -2.31 124 12.40

2038 15.41 13.19 -2.22 111 12.40

2039 15.31 13.19 -2.12 99 12.40

2040 15.19 13.19 -2.01 87 12.40

2041 15.09 13.18 -1.90 76 12.40

2042 14.97 13.18 -1.79 65 12.40

2043 14.86 13.18 -1.68 54 12.40

2044 14.75 13.17 -1.57 44 12.40

2045 14.64 13.17 -1.47 34 12.40

2046 14.53 13.17 -1.37 25 12.40

2047 14.44 13.16 -1.27 16 12.40

2048 14.34 13.16 -1.18 8 12.40

2049 14.24 13.16 -1.08 -- 12.40

2050 14.14 13.16 -0.99 -- 12.40

2051 14.06 13.15 -0.91 -- 12.40

2052 13.99 13.15 -0.83 -- 12.40

2053 13.92 13.15 -0.76 -- 12.40

2054 13.85 13.15 -0.70 -- 12.40

2055 13.79 13.15 -0.64 -- 12.40

2056 13.72 13.15 -0.57 -- 12.40

2057 13.66 13.15 -0.51 -- 12.40

2058 13.61 13.15 -0.46 -- 12.40

2059 13.56 13.15 -0.41 -- 12.40

2060 13.51 13.15 -0.36 -- 12.40

2061 13.47 13.15 -0.32 -- 12.40

2062 13.43 13.15 -0.28 -- 12.40

2063 13.40 13.15 -0.25 -- 12.40

2064 13.37 13.15 -0.22 -- 12.40

2065 13.34 13.15 -0.20 -- 12.40

2066 13.33 13.15 -0.18 -- 12.40

2067 13.32 13.15 -0.17 -- 12.40

2068 13.31 13.15 -0.15 -- 12.40

2069 13.29 13.15 -0.14 -- 12.40

2070 13.28 13.15 -0.13 -- 12.40

2071 13.27 13.15 -0.11 -- 12.40

2072 13.26 13.15 -0.11 -- 12.40

2073 13.26 13.16 -0.11 -- 12.40

2074 13.27 13.16 -0.11 -- 12.40

2075 13.29 13.16 -0.13 -- 12.40

2076 13.31 13.16 -0.15 -- 12.40

2077 13.33 13.16 -0.17 -- 12.40

2078 13.35 13.16 -0.19 -- 12.40

2079 13.37 13.17 -0.21 -- 12.40

2080 13.40 13.17 -0.23 -- 12.40

2081 13.42 13.17 -0.25 -- 12.40

2082 13.44 13.17 -0.27 -- 12.40

2083 13.46 13.17 -0.29 -- 12.40

2084 13.47 13.17 -0.30 -- 12.40

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 14.20 13.95 -0.25 1.75

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 2.05 - NAS Proposal: Option 2 with 5 year delay in implementation

Progressive indexing (1.1%) 2017 to 2066, with disabled held harmless and proportional at conversion;

Increase payroll tax rate starting in 2017, ultimately to 13.3 percent in 2065.

Specified

Contribution Rate Effective OASDI

Cost Income Annual TFR Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.24 12.87 0.63 369 12.40 12.40

2013 12.38 12.90 0.52 367 12.40 12.40

2014 12.62 12.92 0.30 364 12.40 12.40

2015 12.88 12.94 0.06 359 12.40 12.40

2016 13.18 12.96 -0.22 354 12.40 12.40

2017 13.49 13.17 -0.32 347 12.60 12.58

2018 13.81 13.19 -0.62 339 12.60 12.59

2019 14.13 13.21 -0.92 330 12.60 12.59

2020 14.44 13.23 -1.21 320 12.60 12.59

2021 14.73 13.25 -1.48 310 12.60 12.59

2022 14.98 13.27 -1.72 299 12.60 12.59

2023 15.22 13.28 -1.94 287 12.60 12.59

2024 15.43 13.30 -2.14 274 12.60 12.59

2025 15.63 13.59 -2.04 261 12.90 12.87

2026 15.80 13.61 -2.19 249 12.90 12.88

2027 15.95 13.62 -2.33 237 12.90 12.88

2028 16.08 13.63 -2.45 224 12.90 12.88

2029 16.18 13.64 -2.54 210 12.90 12.88

2030 16.27 13.65 -2.62 197 12.90 12.88

2031 16.32 13.66 -2.67 183 12.90 12.88

2032 16.36 13.66 -2.69 169 12.90 12.88

2033 16.37 13.67 -2.70 155 12.90 12.88

2034 16.36 13.67 -2.69 141 12.90 12.88

2035 16.33 13.86 -2.47 126 13.10 13.06

2036 16.28 13.87 -2.42 113 13.10 13.07

2037 16.22 13.87 -2.36 101 13.10 13.07

2038 16.14 13.87 -2.28 88 13.10 13.07

2039 16.05 13.86 -2.18 76 13.10 13.07

2040 15.94 13.86 -2.08 64 13.10 13.07

2041 15.83 13.86 -1.97 52 13.10 13.07

2042 15.72 13.85 -1.87 40 13.10 13.07

2043 15.62 13.85 -1.76 29 13.10 13.07

2044 15.51 13.85 -1.67 19 13.10 13.07

2045 15.42 14.58 -0.84 8 13.90 13.80

2046 15.33 14.60 -0.72 3 13.90 13.83

2047 15.24 14.60 -0.64 -- 13.90 13.83

2048 15.15 14.60 -0.55 -- 13.90 13.83

2049 15.06 14.59 -0.47 -- 13.90 13.83

2050 14.98 14.59 -0.39 -- 13.90 13.83

2051 14.90 14.59 -0.31 -- 13.90 13.83

2052 14.83 14.59 -0.25 -- 13.90 13.83

2053 14.77 14.58 -0.19 -- 13.90 13.83

2054 14.72 14.58 -0.14 -- 13.90 13.83

2055 14.67 14.22 -0.45 -- 13.50 13.47

2056 14.63 14.20 -0.43 -- 13.50 13.45

2057 14.59 14.20 -0.39 -- 13.50 13.45

2058 14.54 14.20 -0.34 -- 13.50 13.45

2059 14.50 14.20 -0.30 -- 13.50 13.45

2060 14.46 14.20 -0.26 -- 13.50 13.45

2061 14.42 14.20 -0.22 -- 13.50 13.45

2062 14.38 14.19 -0.18 -- 13.50 13.45

2063 14.34 14.19 -0.15 -- 13.50 13.45

2064 14.31 14.19 -0.11 -- 13.50 13.45

2065 14.28 14.01 -0.27 -- 13.30 13.27

2066 14.25 14.00 -0.25 -- 13.30 13.26

2067 14.22 14.00 -0.22 -- 13.30 13.26

2068 14.20 14.00 -0.20 -- 13.30 13.26

2069 14.18 14.00 -0.18 -- 13.30 13.26

2070 14.16 14.00 -0.16 -- 13.30 13.26

2071 14.15 14.00 -0.15 -- 13.30 13.26

2072 14.14 14.00 -0.14 -- 13.30 13.26

2073 14.13 14.00 -0.13 -- 13.30 13.26

2074 14.12 14.00 -0.12 -- 13.30 13.26

2075 14.12 14.00 -0.12 -- 13.30 13.26

2076 14.12 14.00 -0.12 -- 13.30 13.26

2077 14.12 14.00 -0.12 -- 13.30 13.26

2078 14.13 14.00 -0.13 -- 13.30 13.26

2079 14.14 14.00 -0.14 -- 13.30 13.26

2080 14.15 14.01 -0.15 -- 13.30 13.26

2081 14.17 14.01 -0.16 -- 13.30 13.27

2082 14.19 14.01 -0.18 -- 13.30 13.27

2083 14.20 14.01 -0.19 -- 13.30 13.27

2084 14.22 14.01 -0.21 -- 13.30 13.27

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 14.80 14.59 -0.21 1.79

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 3.05 - NAS Proposal: Option 3 with 5 year delay in implementation

Progressive indexing (1.1%) 2017 to 2026 restart 2065, with disabled held harmless and proportional at conversion;

Increase payroll tax rate starting in 2017, ultimately to 14.5% in 2080;

Beginning in 2017, apply 2% payroll tax rate above the tax maximum (increase to 3% in 2065), no benefit credit.

Specifed Specified

Contribution Rate Contribution Rate Effective OASDI

Cost Income Annual TFR Above New Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.24 12.87 0.63 369 12.40 12.40

2013 12.38 12.90 0.52 367 12.40 12.40

2014 12.62 12.92 0.30 364 12.40 12.40

2015 12.88 12.94 0.06 359 12.40 12.40

2016 13.18 12.96 -0.22 354 12.40 12.40

2017 13.49 13.50 0.01 347 2.00 12.60 12.92

2018 13.82 13.54 -0.27 342 2.00 12.60 12.95

2019 14.14 13.57 -0.57 335 2.00 12.60 12.95

2020 14.46 13.60 -0.87 327 2.00 12.60 12.96

2021 14.75 13.62 -1.13 319 2.00 12.60 12.96

2022 15.01 13.64 -1.38 310 2.00 12.60 12.96

2023 15.25 13.66 -1.60 300 2.00 12.60 12.96

2024 15.47 13.67 -1.80 289 2.00 12.60 12.96

2025 15.67 13.96 -1.71 278 2.00 12.90 13.24

2026 15.85 13.98 -1.86 269 2.00 12.90 13.25

2027 16.00 14.00 -2.01 258 2.00 12.90 13.25

2028 16.14 14.01 -2.14 247 2.00 12.90 13.25

2029 16.25 14.02 -2.23 236 2.00 12.90 13.25

2030 16.35 14.03 -2.32 224 2.00 12.90 13.25

2031 16.41 14.04 -2.38 212 2.00 12.90 13.25

2032 16.46 14.04 -2.42 200 2.00 12.90 13.25

2033 16.49 14.05 -2.44 188 2.00 12.90 13.25

2034 16.50 14.06 -2.45 176 2.00 12.90 13.25

2035 16.49 14.42 -2.07 164 2.00 13.30 13.62

2036 16.47 14.44 -2.03 154 2.00 13.30 13.63

2037 16.44 14.44 -2.00 144 2.00 13.30 13.63

2038 16.39 14.44 -1.95 134 2.00 13.30 13.63

2039 16.33 14.44 -1.88 124 2.00 13.30 13.63

2040 16.25 14.44 -1.81 115 2.00 13.30 13.63

2041 16.18 14.44 -1.74 106 2.00 13.30 13.63

2042 16.11 14.44 -1.67 97 2.00 13.30 13.63

2043 16.04 14.44 -1.60 88 2.00 13.30 13.63

2044 15.98 14.44 -1.54 80 2.00 13.30 13.64

2045 15.93 14.89 -1.03 72 2.00 13.80 14.09

2046 15.88 14.91 -0.97 66 2.00 13.80 14.11

2047 15.84 14.91 -0.93 61 2.00 13.80 14.11

2048 15.80 14.91 -0.89 57 2.00 13.80 14.11

2049 15.76 14.91 -0.85 52 2.00 13.80 14.11

2050 15.73 14.91 -0.82 47 2.00 13.80 14.11

2051 15.71 14.91 -0.80 43 2.00 13.80 14.11

2052 15.70 14.92 -0.78 38 2.00 13.80 14.11

2053 15.69 14.92 -0.78 34 2.00 13.80 14.11

2054 15.70 14.92 -0.78 30 2.00 13.80 14.11

2055 15.71 14.92 -0.79 25 2.00 13.80 14.11

2056 15.72 14.92 -0.80 20 2.00 13.80 14.11

2057 15.74 14.93 -0.81 16 2.00 13.80 14.11

2058 15.76 14.93 -0.83 11 2.00 13.80 14.12

2059 15.78 14.93 -0.84 6 2.00 13.80 14.12

2060 15.79 14.94 -0.86 0 3.00 13.80 14.12

2061 15.81 14.94 -0.88 -- 3.00 13.80 14.12

2062 15.83 14.94 -0.89 -- 3.00 13.80 14.12

2063 15.86 14.94 -0.91 -- 3.00 13.80 14.12

2064 15.88 14.95 -0.93 -- 3.00 13.80 14.12

2065 15.91 15.68 -0.23 -- 3.00 14.40 14.85

2066 15.93 15.71 -0.22 -- 3.00 14.40 14.88

2067 15.96 15.71 -0.25 -- 3.00 14.40 14.88

2068 15.99 15.72 -0.28 -- 3.00 14.40 14.88

2069 16.02 15.72 -0.30 -- 3.00 14.40 14.88

2070 16.05 15.72 -0.33 -- 3.00 14.40 14.88

2071 16.08 15.73 -0.35 -- 3.00 14.40 14.88

2072 16.10 15.73 -0.37 -- 3.00 14.40 14.88

2073 16.12 15.73 -0.39 -- 3.00 14.40 14.88

2074 16.14 15.73 -0.40 -- 3.00 14.40 14.88

2075 16.15 15.74 -0.42 -- 3.00 14.40 14.89

2076 16.17 15.74 -0.43 -- 3.00 14.40 14.89

2077 16.18 15.74 -0.44 -- 3.00 14.40 14.89

2078 16.19 15.74 -0.45 -- 3.00 14.40 14.89

2079 16.20 15.75 -0.45 -- 3.00 14.40 14.89

2080 16.20 15.84 -0.37 -- 3.00 14.50 14.98

2081 16.21 15.84 -0.37 -- 3.00 14.50 14.99

2082 16.21 15.85 -0.37 -- 3.00 14.50 14.99

2083 16.21 15.85 -0.36 -- 3.00 14.50 14.99

2084 16.21 15.85 -0.36 -- 3.00 14.50 14.99

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 15.44 15.20 -0.24 1.76

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 4.05 - NAS Proposal: Option 4 with 5 year delay in implementation

Increase tax maximum an additional 2% from 2017-53, no benefit credit;

Increase payroll tax rate starting in 2017, ultimately to 14.7% in 2085;

Beginning in 2017, apply 2% payroll tax rate above the new tax maximum (increase to ultimately 5.5% in 2065), no benefit credit.

Specifed Specified

Contribution Rate Contribution Rate Effective OASDI

Cost Income Annual TFR Above New Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.24 12.87 0.63 369 12.40 12.40

2013 12.38 12.90 0.52 367 12.40 12.40

2014 12.62 12.92 0.30 364 12.40 12.40

2015 12.88 12.94 0.06 359 12.40 12.40

2016 13.18 12.96 -0.22 354 12.40 12.40

2017 13.49 13.63 0.13 347 2.00 12.70 13.04

2018 13.83 13.71 -0.12 342 2.00 12.70 13.11

2019 14.17 13.77 -0.40 336 2.00 12.70 13.15

2020 14.50 13.83 -0.67 329 2.00 12.70 13.19

2021 14.81 13.88 -0.93 322 2.00 12.70 13.22

2022 15.09 13.93 -1.17 314 2.00 12.70 13.25

2023 15.37 13.98 -1.39 305 2.00 12.70 13.28

2024 15.62 14.03 -1.59 295 2.00 12.70 13.31

2025 15.86 14.07 -1.79 285 2.00 12.70 13.34

2026 16.08 14.12 -1.96 274 2.00 12.70 13.37

2027 16.28 14.16 -2.12 262 2.00 12.70 13.40

2028 16.46 14.20 -2.27 250 2.00 12.70 13.42

2029 16.62 14.24 -2.38 238 2.00 12.70 13.45

2030 16.75 14.70 -2.05 225 3.00 13.00 13.90

2031 16.86 14.75 -2.11 215 3.00 13.00 13.94

2032 16.95 14.78 -2.17 204 3.00 13.00 13.96

2033 17.02 14.81 -2.21 193 3.00 13.00 13.98

2034 17.06 14.84 -2.22 183 3.00 13.00 14.01

2035 17.09 14.87 -2.22 172 3.00 13.00 14.03

2036 17.10 14.89 -2.21 161 3.00 13.00 14.05

2037 17.09 14.91 -2.18 151 3.00 13.00 14.07

2038 17.07 14.94 -2.13 140 3.00 13.00 14.09

2039 17.02 14.96 -2.07 130 3.00 13.00 14.11

2040 16.97 14.98 -2.00 120 3.00 13.00 14.13

2041 16.92 14.99 -1.92 110 3.00 13.00 14.15

2042 16.86 15.01 -1.85 101 3.00 13.00 14.16

2043 16.81 15.03 -1.78 91 3.00 13.00 14.18

2044 16.76 15.05 -1.72 82 3.00 13.00 14.20

2045 16.72 15.41 -1.31 73 3.50 13.30 14.57

2046 16.69 15.45 -1.24 67 3.50 13.30 14.60

2047 16.66 15.46 -1.20 60 3.50 13.30 14.62

2048 16.63 15.48 -1.15 54 3.50 13.30 14.63

2049 16.60 15.50 -1.10 48 3.50 13.30 14.65

2050 16.57 15.52 -1.06 42 3.50 13.30 14.67

2051 16.56 15.53 -1.03 36 3.50 13.30 14.68

2052 16.55 15.55 -1.00 31 3.50 13.30 14.70

2053 16.55 15.57 -0.99 25 3.50 13.30 14.72

2054 16.56 15.57 -0.99 20 3.50 13.30 14.72

2055 16.57 15.68 -0.90 14 4.50 13.30 14.82

2056 16.59 15.68 -0.91 9 4.50 13.30 14.82

2057 16.61 15.69 -0.93 3 4.50 13.30 14.83

2058 16.64 15.69 -0.94 -- 4.50 13.30 14.83

2059 16.66 15.69 -0.96 -- 4.50 13.30 14.83

2060 16.68 15.70 -0.98 -- 4.50 13.30 14.83

2061 16.70 15.70 -1.00 -- 4.50 13.30 14.83

2062 16.72 15.70 -1.02 -- 4.50 13.30 14.83

2063 16.74 15.71 -1.04 -- 4.50 13.30 14.83

2064 16.77 15.71 -1.06 -- 4.50 13.30 14.83

2065 16.80 16.51 -0.29 -- 5.50 14.00 15.63

2066 16.83 16.54 -0.29 -- 5.50 14.00 15.66

2067 16.86 16.55 -0.32 -- 5.50 14.00 15.66

2068 16.90 16.55 -0.35 -- 5.50 14.00 15.66

2069 16.94 16.56 -0.38 -- 5.50 14.00 15.66

2070 16.98 16.56 -0.42 -- 5.50 14.00 15.66

2071 17.02 16.56 -0.46 -- 5.50 14.00 15.67

2072 17.06 16.57 -0.50 -- 5.50 14.00 15.67

2073 17.11 16.57 -0.53 -- 5.50 14.00 15.67

2074 17.15 16.58 -0.57 -- 5.50 14.00 15.67

2075 17.20 17.07 -0.12 -- 5.50 14.50 16.16

2076 17.24 17.10 -0.14 -- 5.50 14.50 16.18

2077 17.29 17.10 -0.19 -- 5.50 14.50 16.19

2078 17.34 17.11 -0.23 -- 5.50 14.50 16.19

2079 17.39 17.11 -0.27 -- 5.50 14.50 16.19

2080 17.44 17.12 -0.32 -- 5.50 14.50 16.19

2081 17.49 17.12 -0.37 -- 5.50 14.50 16.19

2082 17.54 17.13 -0.41 -- 5.50 14.50 16.19

2083 17.59 17.13 -0.46 -- 5.50 14.50 16.20

2084 17.64 17.14 -0.50 -- 5.50 14.50 16.20

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 15.99 15.71 -0.28 1.72

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 1.10 - NAS Proposal: Option 1 with 10 year delay in implementation

Progressive indexing (1.1%) 2022 to 2059 restart 2080, with disabled held harmless and proportional at conversion;

Increase EEA 2 months per year for 6 years beginning 2022; then index EEA and NRA to life expectancy; 

Beginning 2022, use chained CPI in computing the COLA.

OASDI

Cost Income Annual TFR Contribution

Year Rate Rate Balance 1-1-yr Rate

2009 12.35 12.83 0.48 354 12.40

2010 12.50 12.87 0.37 360 12.40

2011 12.37 12.87 0.50 366 12.40

2012 12.24 12.87 0.63 369 12.40

2013 12.38 12.90 0.52 367 12.40

2014 12.62 12.92 0.30 364 12.40

2015 12.88 12.94 0.06 359 12.40

2016 13.18 12.96 -0.22 354 12.40

2017 13.49 12.98 -0.51 347 12.40

2018 13.83 13.00 -0.83 338 12.40

2019 14.17 13.02 -1.15 327 12.40

2020 14.50 13.04 -1.46 315 12.40

2021 14.81 13.06 -1.75 302 12.40

2022 15.09 13.08 -2.01 289 12.40

2023 15.31 13.10 -2.21 276 12.40

2024 15.47 13.11 -2.35 263 12.40

2025 15.59 13.13 -2.46 249 12.40

2026 15.63 13.14 -2.50 236 12.40

2027 15.68 13.15 -2.54 223 12.40

2028 15.74 13.16 -2.58 210 12.40

2029 15.78 13.17 -2.62 196 12.40

2030 15.83 13.17 -2.65 182 12.40

2031 15.87 13.18 -2.69 167 12.40

2032 15.90 13.19 -2.71 152 12.40

2033 15.91 13.19 -2.72 137 12.40

2034 15.90 13.20 -2.70 122 12.40

2035 15.88 13.20 -2.68 107 12.40

2036 15.85 13.20 -2.65 92 12.40

2037 15.81 13.20 -2.61 77 12.40

2038 15.74 13.20 -2.54 62 12.40

2039 15.65 13.20 -2.45 47 12.40

2040 15.54 13.20 -2.34 33 12.40

2041 15.43 13.20 -2.23 18 12.40

2042 15.31 13.19 -2.11 4 12.40

2043 15.19 13.19 -2.00 -- 12.40

2044 15.09 13.19 -1.90 -- 12.40

2045 14.99 13.19 -1.80 -- 12.40

2046 14.90 13.18 -1.72 -- 12.40

2047 14.81 13.18 -1.63 -- 12.40

2048 14.72 13.18 -1.54 -- 12.40

2049 14.62 13.17 -1.44 -- 12.40

2050 14.52 13.17 -1.35 -- 12.40

2051 14.44 13.17 -1.27 -- 12.40

2052 14.36 13.17 -1.19 -- 12.40

2053 14.29 13.17 -1.12 -- 12.40

2054 14.22 13.16 -1.06 -- 12.40

2055 14.16 13.16 -1.00 -- 12.40

2056 14.10 13.16 -0.94 -- 12.40

2057 14.05 13.16 -0.89 -- 12.40

2058 13.99 13.16 -0.83 -- 12.40

2059 13.93 13.16 -0.77 -- 12.40

2060 13.87 13.16 -0.71 -- 12.40

2061 13.81 13.16 -0.65 -- 12.40

2062 13.75 13.16 -0.59 -- 12.40

2063 13.70 13.16 -0.54 -- 12.40

2064 13.65 13.16 -0.49 -- 12.40

2065 13.61 13.16 -0.45 -- 12.40

2066 13.58 13.16 -0.42 -- 12.40

2067 13.55 13.16 -0.39 -- 12.40

2068 13.53 13.16 -0.37 -- 12.40

2069 13.51 13.16 -0.35 -- 12.40

2070 13.49 13.16 -0.33 -- 12.40

2071 13.49 13.16 -0.33 -- 12.40

2072 13.48 13.16 -0.32 -- 12.40

2073 13.47 13.16 -0.31 -- 12.40

2074 13.46 13.16 -0.30 -- 12.40

2075 13.45 13.16 -0.29 -- 12.40

2076 13.44 13.17 -0.27 -- 12.40

2077 13.43 13.17 -0.27 -- 12.40

2078 13.44 13.17 -0.27 -- 12.40

2079 13.45 13.17 -0.29 -- 12.40

2080 13.48 13.17 -0.31 -- 12.40

2081 13.50 13.17 -0.32 -- 12.40

2082 13.52 13.17 -0.35 -- 12.40

2083 13.54 13.18 -0.37 -- 12.40

2084 13.56 13.18 -0.39 -- 12.40

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 14.46 13.96 -0.50 1.50

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 2.10 - NAS Proposal: Option 2 with 10 year delay in implementation

Progressive indexing (1.1%) 2022 to 2071, with disabled held harmless and proportional at conversion;

Increase payroll tax rate starting in 2022, ultimately to 13.3 percent in 2070.

Specified

Contribution Rate Effective OASDI

Cost Income Annual TFR Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.24 12.87 0.63 369 12.40 12.40

2013 12.38 12.90 0.52 367 12.40 12.40

2014 12.62 12.92 0.30 364 12.40 12.40

2015 12.88 12.94 0.06 359 12.40 12.40

2016 13.18 12.96 -0.22 354 12.40 12.40

2017 13.49 12.98 -0.51 347 12.40 12.40

2018 13.83 13.00 -0.83 338 12.40 12.40

2019 14.17 13.02 -1.15 327 12.40 12.40

2020 14.50 13.04 -1.46 315 12.40 12.40

2021 14.81 13.06 -1.75 302 12.40 12.40

2022 15.09 13.26 -1.83 289 12.60 12.58

2023 15.35 13.29 -2.06 276 12.60 12.59

2024 15.59 13.30 -2.28 263 12.60 12.59

2025 15.80 13.32 -2.48 248 12.60 12.59

2026 15.99 13.33 -2.66 234 12.60 12.59

2027 16.16 13.35 -2.82 218 12.60 12.59

2028 16.31 13.36 -2.95 202 12.60 12.59

2029 16.42 13.37 -3.05 186 12.60 12.59

2030 16.51 13.65 -2.86 169 12.90 12.87

2031 16.57 13.67 -2.90 154 12.90 12.88

2032 16.61 13.68 -2.93 138 12.90 12.88

2033 16.63 13.68 -2.95 122 12.90 12.88

2034 16.62 13.69 -2.93 106 12.90 12.88

2035 16.59 13.69 -2.91 91 12.90 12.88

2036 16.55 13.69 -2.86 75 12.90 12.88

2037 16.50 13.69 -2.81 59 12.90 12.88

2038 16.42 13.69 -2.73 43 12.90 12.88

2039 16.33 13.69 -2.64 27 12.90 12.88

2040 16.23 13.87 -2.36 12 13.10 13.06

2041 16.12 13.87 -2.25 -- 13.10 13.07

2042 16.01 13.87 -2.14 -- 13.10 13.07

2043 15.91 13.87 -2.04 -- 13.10 13.07

2044 15.81 13.86 -1.95 -- 13.10 13.07

2045 15.72 13.86 -1.86 -- 13.10 13.07

2046 15.63 13.86 -1.77 -- 13.10 13.07

2047 15.54 13.85 -1.69 -- 13.10 13.07

2048 15.46 13.85 -1.61 -- 13.10 13.07

2049 15.37 13.85 -1.52 -- 13.10 13.07

2050 15.29 14.58 -0.71 -- 13.90 13.80

2051 15.22 14.60 -0.61 -- 13.90 13.83

2052 15.15 14.60 -0.55 -- 13.90 13.83

2053 15.09 14.60 -0.49 -- 13.90 13.83

2054 15.04 14.60 -0.44 -- 13.90 13.83

2055 14.99 14.60 -0.39 -- 13.90 13.83

2056 14.94 14.60 -0.34 -- 13.90 13.83

2057 14.90 14.60 -0.30 -- 13.90 13.83

2058 14.85 14.60 -0.26 -- 13.90 13.83

2059 14.81 14.59 -0.22 -- 13.90 13.83

2060 14.77 14.23 -0.54 -- 13.50 13.47

2061 14.72 14.21 -0.51 -- 13.50 13.45

2062 14.68 14.21 -0.47 -- 13.50 13.45

2063 14.64 14.21 -0.43 -- 13.50 13.45

2064 14.61 14.21 -0.40 -- 13.50 13.45

2065 14.57 14.21 -0.36 -- 13.50 13.45

2066 14.54 14.21 -0.33 -- 13.50 13.45

2067 14.51 14.21 -0.30 -- 13.50 13.45

2068 14.48 14.21 -0.28 -- 13.50 13.45

2069 14.46 14.20 -0.25 -- 13.50 13.45

2070 14.44 14.02 -0.42 -- 13.30 13.27

2071 14.42 14.01 -0.40 -- 13.30 13.26

2072 14.40 14.01 -0.38 -- 13.30 13.26

2073 14.38 14.01 -0.37 -- 13.30 13.26

2074 14.36 14.01 -0.35 -- 13.30 13.26

2075 14.35 14.01 -0.34 -- 13.30 13.26

2076 14.34 14.01 -0.32 -- 13.30 13.26

2077 14.33 14.01 -0.31 -- 13.30 13.26

2078 14.32 14.01 -0.31 -- 13.30 13.26

2079 14.32 14.01 -0.31 -- 13.30 13.26

2080 14.32 14.01 -0.31 -- 13.30 13.26

2081 14.32 14.01 -0.31 -- 13.30 13.26

2082 14.33 14.02 -0.32 -- 13.30 13.26

2083 14.34 14.02 -0.32 -- 13.30 13.26

2084 14.35 14.02 -0.33 -- 13.30 13.26

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 15.00 14.52 -0.48 1.53

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 3.10 - NAS Proposal: Option 3 with 10 year delay in implementation

Progressive indexing (1.1%) 2022 to 2031 restart 2070, with disabled held harmless and proportional at conversion;

Increase payroll tax rate starting in 2022, ultimately to 14.5% in 2085;

Beginning in 2022, apply 2% payroll tax rate above the tax maximum (increase to 3% in 2070), no benefit credit.

Specifed Specified

Contribution Rate Contribution Rate Effective OASDI

Cost Income Annual TFR Above New Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.24 12.87 0.63 369 12.40 12.40

2013 12.38 12.90 0.52 367 12.40 12.40

2014 12.62 12.92 0.30 364 12.40 12.40

2015 12.88 12.94 0.06 359 12.40 12.40

2016 13.18 12.96 -0.22 354 12.40 12.40

2017 13.49 12.98 -0.51 347 12.40 12.40

2018 13.83 13.00 -0.83 338 12.40 12.40

2019 14.17 13.02 -1.15 327 12.40 12.40

2020 14.50 13.04 -1.46 315 12.40 12.40

2021 14.81 13.06 -1.75 302 12.40 12.40

2022 15.09 13.60 -1.49 289 2.00 12.60 12.92

2023 15.36 13.64 -1.71 278 2.00 12.60 12.95

2024 15.60 13.67 -1.93 267 2.00 12.60 12.95

2025 15.82 13.69 -2.13 255 2.00 12.60 12.96

2026 16.02 13.70 -2.32 242 2.00 12.60 12.96

2027 16.19 13.72 -2.48 228 2.00 12.60 12.96

2028 16.35 13.73 -2.61 215 2.00 12.60 12.96

2029 16.46 13.74 -2.72 200 2.00 12.60 12.96

2030 16.56 14.03 -2.53 186 2.00 12.90 13.24

2031 16.62 14.05 -2.58 172 2.00 12.90 13.25

2032 16.67 14.05 -2.62 159 2.00 12.90 13.25

2033 16.69 14.06 -2.63 145 2.00 12.90 13.25

2034 16.69 14.06 -2.63 132 2.00 12.90 13.25

2035 16.67 14.07 -2.61 118 2.00 12.90 13.25

2036 16.64 14.07 -2.58 104 2.00 12.90 13.25

2037 16.60 14.07 -2.53 91 2.00 12.90 13.25

2038 16.54 14.07 -2.47 77 2.00 12.90 13.25

2039 16.47 14.07 -2.40 63 2.00 12.90 13.25

2040 16.39 14.43 -1.95 50 2.00 13.30 13.62

2041 16.31 14.45 -1.86 39 2.00 13.30 13.63

2042 16.23 14.45 -1.78 29 2.00 13.30 13.63

2043 16.15 14.44 -1.71 18 2.00 13.30 13.63

2044 16.09 14.44 -1.64 8 2.00 13.30 13.63

2045 16.03 14.44 -1.58 -- 2.00 13.30 13.63

2046 15.97 14.44 -1.53 -- 2.00 13.30 13.63

2047 15.93 14.44 -1.48 -- 2.00 13.30 13.63

2048 15.88 14.44 -1.44 -- 2.00 13.30 13.63

2049 15.83 14.44 -1.39 -- 2.00 13.30 13.64

2050 15.80 14.90 -0.90 -- 2.00 13.80 14.09

2051 15.77 14.92 -0.85 -- 2.00 13.80 14.11

2052 15.75 14.92 -0.84 -- 2.00 13.80 14.11

2053 15.74 14.92 -0.82 -- 2.00 13.80 14.11

2054 15.74 14.92 -0.82 -- 2.00 13.80 14.11

2055 15.74 14.92 -0.82 -- 2.00 13.80 14.11

2056 15.75 14.92 -0.83 -- 2.00 13.80 14.11

2057 15.76 14.93 -0.84 -- 2.00 13.80 14.11

2058 15.78 14.93 -0.85 -- 2.00 13.80 14.11

2059 15.80 14.93 -0.86 -- 2.00 13.80 14.11

2060 15.81 14.93 -0.88 -- 2.00 13.80 14.11

2061 15.83 14.94 -0.89 -- 2.00 13.80 14.11

2062 15.85 14.94 -0.91 -- 2.00 13.80 14.11

2063 15.87 14.94 -0.93 -- 2.00 13.80 14.12

2064 15.89 14.94 -0.95 -- 2.00 13.80 14.12

2065 15.92 14.95 -0.97 -- 3.00 13.80 14.12

2066 15.95 14.95 -1.00 -- 3.00 13.80 14.12

2067 15.98 14.95 -1.03 -- 3.00 13.80 14.12

2068 16.01 14.96 -1.06 -- 3.00 13.80 14.12

2069 16.05 14.96 -1.09 -- 3.00 13.80 14.12

2070 16.09 15.69 -0.39 -- 3.00 14.40 14.85

2071 16.12 15.73 -0.40 -- 3.00 14.40 14.88

2072 16.16 15.73 -0.43 -- 3.00 14.40 14.88

2073 16.20 15.73 -0.46 -- 3.00 14.40 14.88

2074 16.23 15.74 -0.49 -- 3.00 14.40 14.88

2075 16.26 15.74 -0.52 -- 3.00 14.40 14.88

2076 16.29 15.74 -0.55 -- 3.00 14.40 14.88

2077 16.32 15.75 -0.57 -- 3.00 14.40 14.88

2078 16.34 15.75 -0.60 -- 3.00 14.40 14.88

2079 16.37 15.75 -0.62 -- 3.00 14.40 14.88

2080 16.39 15.75 -0.63 -- 3.00 14.40 14.89

2081 16.41 15.76 -0.65 -- 3.00 14.40 14.89

2082 16.42 15.76 -0.66 -- 3.00 14.40 14.89

2083 16.43 15.76 -0.67 -- 3.00 14.40 14.89

2084 16.44 15.76 -0.68 -- 3.00 14.40 14.89

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 15.52 15.03 -0.49 1.51

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 4.10 - NAS Proposal: Option 4 with 10 year delay in implementation

Increase tax maximum an additional 2% from 2022-58, no benefit credit;

Increase payroll tax rate starting in 2022, ultimately to 14.7% in 2090;

Beginning in 2022, apply 2% payroll tax rate above the new tax maximum (increase to ultimately 5.5% in 2070), no benefit credit.

Specifed Specified

Contribution Rate Contribution Rate Effective OASDI

Cost Income Annual TFR Above New Below New Payroll Tax

Year Rate Rate Balance 1-1-yr PL Tax Max PL Tax Max Income Rate

2009 12.35 12.83 0.48 354 12.40 12.40

2010 12.50 12.87 0.37 360 12.40 12.40

2011 12.37 12.87 0.50 366 12.40 12.40

2012 12.24 12.87 0.63 369 12.40 12.40

2013 12.38 12.90 0.52 367 12.40 12.40

2014 12.62 12.92 0.30 364 12.40 12.40

2015 12.88 12.94 0.06 359 12.40 12.40

2016 13.18 12.96 -0.22 354 12.40 12.40

2017 13.49 12.98 -0.51 347 12.40 12.40

2018 13.83 13.00 -0.83 338 12.40 12.40

2019 14.17 13.02 -1.15 327 12.40 12.40

2020 14.50 13.04 -1.46 315 12.40 12.40

2021 14.81 13.06 -1.75 302 12.40 12.40

2022 15.09 13.72 -1.37 289 2.00 12.70 13.04

2023 15.37 13.81 -1.56 279 2.00 12.70 13.11

2024 15.62 13.86 -1.76 268 2.00 12.70 13.15

2025 15.86 13.92 -1.94 257 2.00 12.70 13.19

2026 16.08 13.96 -2.12 245 2.00 12.70 13.22

2027 16.28 14.01 -2.27 232 2.00 12.70 13.25

2028 16.47 14.06 -2.41 219 2.00 12.70 13.28

2029 16.62 14.10 -2.52 206 2.00 12.70 13.31

2030 16.76 14.14 -2.62 192 2.00 12.70 13.34

2031 16.87 14.18 -2.69 178 2.00 12.70 13.37

2032 16.96 14.21 -2.74 164 2.00 12.70 13.40

2033 17.02 14.25 -2.78 150 2.00 12.70 13.42

2034 17.07 14.28 -2.79 135 2.00 12.70 13.45

2035 17.09 14.74 -2.35 121 3.00 13.00 13.90

2036 17.10 14.78 -2.32 109 3.00 13.00 13.94

2037 17.10 14.81 -2.29 97 3.00 13.00 13.96

2038 17.07 14.83 -2.24 85 3.00 13.00 13.98

2039 17.03 14.86 -2.17 73 3.00 13.00 14.01

2040 16.98 14.88 -2.10 62 3.00 13.00 14.03

2041 16.92 14.90 -2.03 50 3.00 13.00 14.05

2042 16.87 14.92 -1.95 39 3.00 13.00 14.07

2043 16.82 14.94 -1.88 28 3.00 13.00 14.09

2044 16.77 14.96 -1.82 18 3.00 13.00 14.11

2045 16.73 14.97 -1.76 7 3.00 13.00 14.13

2046 16.70 14.99 -1.70 -- 3.00 13.00 14.15

2047 16.67 15.01 -1.66 -- 3.00 13.00 14.16

2048 16.64 15.03 -1.61 -- 3.00 13.00 14.18

2049 16.61 15.05 -1.56 -- 3.00 13.00 14.20

2050 16.58 15.42 -1.17 -- 3.50 13.30 14.57

2051 16.57 15.45 -1.12 -- 3.50 13.30 14.60

2052 16.56 15.47 -1.09 -- 3.50 13.30 14.62

2053 16.56 15.49 -1.08 -- 3.50 13.30 14.63

2054 16.57 15.50 -1.07 -- 3.50 13.30 14.65

2055 16.58 15.52 -1.06 -- 3.50 13.30 14.67

2056 16.60 15.54 -1.06 -- 3.50 13.30 14.68

2057 16.62 15.56 -1.06 -- 3.50 13.30 14.70

2058 16.64 15.58 -1.07 -- 3.50 13.30 14.72

2059 16.66 15.58 -1.08 -- 3.50 13.30 14.72

2060 16.68 15.69 -1.00 -- 4.50 13.30 14.82

2061 16.71 15.70 -1.01 -- 4.50 13.30 14.82

2062 16.73 15.70 -1.03 -- 4.50 13.30 14.83

2063 16.75 15.70 -1.05 -- 4.50 13.30 14.83

2064 16.78 15.71 -1.07 -- 4.50 13.30 14.83

2065 16.81 15.71 -1.10 -- 4.50 13.30 14.83

2066 16.84 15.71 -1.13 -- 4.50 13.30 14.83

2067 16.87 15.72 -1.16 -- 4.50 13.30 14.83

2068 16.91 15.72 -1.19 -- 4.50 13.30 14.83

2069 16.95 15.73 -1.22 -- 4.50 13.30 14.83

2070 16.99 16.52 -0.47 -- 5.50 14.00 15.63

2071 17.03 16.56 -0.47 -- 5.50 14.00 15.66

2072 17.07 16.56 -0.51 -- 5.50 14.00 15.66

2073 17.12 16.57 -0.55 -- 5.50 14.00 15.66

2074 17.16 16.57 -0.59 -- 5.50 14.00 15.66

2075 17.20 16.58 -0.63 -- 5.50 14.00 15.66

2076 17.25 16.58 -0.67 -- 5.50 14.00 15.67

2077 17.30 16.59 -0.71 -- 5.50 14.00 15.67

2078 17.35 16.59 -0.76 -- 5.50 14.00 15.67

2079 17.40 16.59 -0.80 -- 5.50 14.00 15.67

2080 17.45 17.09 -0.36 -- 5.50 14.50 16.16

2081 17.50 17.12 -0.38 -- 5.50 14.50 16.18

2082 17.55 17.12 -0.43 -- 5.50 14.50 16.19

2083 17.60 17.13 -0.47 -- 5.50 14.50 16.19

2084 17.65 17.13 -0.52 -- 5.50 14.50 16.19

Summarized OASDI

Actuarial Change in 

Cost Rate Income Rate Balance Actuarial Balance

2009-2083 16.00 15.46 -0.54 1.46

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

All values are expressed as percents of present law taxable payroll, except Trust Fund Ratio (TFR). Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010
Table 1a - General Fund Transfers, OASDI Trust Fund Assets, and Theoretical OASDI Assets

NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

Proposal

Total OASDI

Trust Fund

Annual Percentage Annual Accumulated as Assets Without General With Plan General

Amounts of Payroll Amounts of End of Year at End of Year GDP Fund Transfers Fund Transfers

Calendar (1) (2) (3) (4) (5) (6) (7) (8)

Year

2009 0.0 0.0 0.0 0 2,556 14,088 2,556 2,556

2010 0.0 0.0 0.0 0 2,650 14,348 2,650 2,650

2011 0.0 0.0 0.0 0 2,738 14,837 2,738 2,738

2012 0.0 0.0 0.0 0 2,829 15,332 2,829 2,829

2013 0.0 0.0 0.0 0 2,912 15,758 2,909 2,909

2014 0.0 0.0 0.0 0 2,991 16,145 2,981 2,981

2015 0.0 0.0 0.0 0 3,074 16,510 3,049 3,049

2016 0.0 0.0 0.0 0 3,151 16,809 3,103 3,103

2017 0.0 0.0 0.0 0 3,222 17,115 3,141 3,141

2018 0.0 0.0 0.0 0 3,284 17,422 3,162 3,162

2019 0.0 0.0 0.0 0 3,336 17,725 3,164 3,164

2020 0.0 0.0 0.0 0 3,377 18,031 3,146 3,146

2021 0.0 0.0 0.0 0 3,405 18,343 3,109 3,109

2022 0.0 0.0 0.0 0 3,421 18,660 3,053 3,053

2023 0.0 0.0 0.0 0 3,426 18,984 2,977 2,977

2024 0.0 0.0 0.0 0 3,416 19,313 2,878 2,878

2025 0.0 0.0 0.0 0 3,391 19,648 2,758 2,758

2026 0.0 0.0 0.0 0 3,352 19,986 2,616 2,616

2027 0.0 0.0 0.0 0 3,300 20,333 2,452 2,452

2028 0.0 0.0 0.0 0 3,235 20,684 2,266 2,266

2029 0.0 0.0 0.0 0 3,160 21,046 2,060 2,060

2030 0.0 0.0 0.0 0 3,075 21,416 1,833 1,833

2031 0.0 0.0 0.0 0 2,984 21,795 1,587 1,587

2032 0.0 0.0 0.0 0 2,887 22,185 1,323 1,323

2033 0.0 0.0 0.0 0 2,785 22,581 1,041 1,041

2034 0.0 0.0 0.0 0 2,681 22,987 743 743

2035 0.0 0.0 0.0 0 2,575 23,398 429 429

2036 0.0 0.0 0.0 0 2,467 23,817 101 101

2037 0.0 0.0 0.0 0 2,360 24,248 -243 -243

2038 0.0 0.0 0.0 0 2,256 24,690 -599 -599

2039 0.0 0.0 0.0 0 2,156 25,141 -968 -968

2040 0.0 0.0 0.0 0 2,062 25,599 -1,348 -1,348

2041 0.0 0.0 0.0 0 1,974 26,062 -1,739 -1,739

2042 0.0 0.0 0.0 0 1,892 26,533 -2,143 -2,143

2043 0.0 0.0 0.0 0 1,817 27,014 -2,559 -2,559

2044 0.0 0.0 0.0 0 1,749 27,500 -2,989 -2,989

2045 0.0 0.0 0.0 0 1,687 27,993 -3,432 -3,432

2046 0.0 0.0 0.0 0 1,632 28,491 -3,891 -3,891

2047 0.0 0.0 0.0 0 1,583 28,995 -4,365 -4,365

2048 0.0 0.0 0.0 0 1,542 29,506 -4,856 -4,856

2049 0.0 0.0 0.0 0 1,508 30,023 -5,364 -5,364

2050 0.0 0.0 0.0 0 1,482 30,544 -5,890 -5,890

2051 0.0 0.0 0.0 0 1,464 31,072 -6,435 -6,435

2052 0.0 0.0 0.0 0 1,454 31,610 -7,001 -7,001

2053 0.0 0.0 0.0 0 1,450 32,155 -7,590 -7,590

2054 0.0 0.0 0.0 0 1,452 32,709 -8,202 -8,202

2055 0.0 0.0 0.0 0 1,459 33,271 -8,840 -8,840

2056 0.0 0.0 0.0 0 1,472 33,843 -9,504 -9,504

2057 0.0 0.0 0.0 0 1,488 34,427 -10,197 -10,197

2058 0.0 0.0 0.0 0 1,510 35,021 -10,918 -10,918

2059 0.0 0.0 0.0 0 1,536 35,627 -11,670 -11,670

2060 0.0 0.0 0.0 0 1,567 36,243 -12,453 -12,453

2061 0.0 0.0 0.0 0 1,601 36,867 -13,268 -13,268

2062 0.0 0.0 0.0 0 1,640 37,501 -14,117 -14,117

2063 0.0 0.0 0.0 0 1,682 38,145 -15,000 -15,000

2064 0.0 0.0 0.0 0 1,729 38,800 -15,920 -15,920

2065 0.0 0.0 0.0 0 1,779 39,463 -16,878 -16,878

2066 0.0 0.0 0.0 0 1,834 40,139 -17,876 -17,876

2067 0.0 0.0 0.0 0 1,893 40,827 -18,916 -18,916

2068 0.0 0.0 0.0 0 1,954 41,526 -19,999 -19,999

2069 0.0 0.0 0.0 0 2,016 42,234 -21,126 -21,126

2070 0.0 0.0 0.0 0 2,077 42,952 -22,301 -22,301

2071 0.0 0.0 0.0 0 2,139 43,681 -23,525 -23,525

2072 0.0 0.0 0.0 0 2,199 44,425 -24,799 -24,799

2073 0.0 0.0 0.0 0 2,259 45,179 -26,125 -26,125

2074 0.0 0.0 0.0 0 2,318 45,945 -27,506 -27,506

2075 0.0 0.0 0.0 0 2,375 46,719 -28,944 -28,944

2076 0.0 0.0 0.0 0 2,431 47,503 -30,440 -30,440

2077 0.0 0.0 0.0 0 2,485 48,298 -31,997 -31,997

2078 0.0 0.0 0.0 0 2,538 49,104 -33,617 -33,617

2079 0.0 0.0 0.0 0 2,589 49,921 -35,303 -35,303

2080 0.0 0.0 0.0 0 2,640 50,749 -37,056 -37,056

2081 0.0 0.0 0.0 0 2,691 51,591 -38,880 -38,880

2082 0.0 0.0 0.0 0 2,742 52,445 -40,777 -40,777

2083 0.0 0.0 0.0 0 2,794 53,314 -42,749 -42,749

2084 0.0 0.0 0.0 0 2,845 54,195 -44,800 -44,800

Total 2009-83 0.0

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary 1

 Theoretical Social Security is the current Social Security program with the assumption Social Security Administration

 that the law is modified to permit borrowing from the General Fund of the Treasury. January 13, 2010

Present Value as of 1-1-09 Billions of Constant 2009 Dollars Billions of Constant 2009 Dollars

Theoretical Social Security1

Proposal General Fund Transfers with Borrowing Authority

Net OASDI Trust Fund Assets at End of Year 
Table 2a - General Fund Transfers, OASDI Trust Fund Assets, and Theoretical OASDI Assets

NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Proposal

Total OASDI

Trust Fund

Annual Percentage Annual Accumulated as Assets Without General With Plan General

Amounts of Payroll Amounts of End of Year at End of Year GDP Fund Transfers Fund Transfers

Calendar (1) (2) (3) (4) (5) (6) (7) (8)

Year

2009 0.0 0.0 0.0 0 2,556 14,088 2,556 2,556

2010 0.0 0.0 0.0 0 2,650 14,348 2,650 2,650

2011 0.0 0.0 0.0 0 2,738 14,837 2,738 2,738

2012 0.0 0.0 0.0 0 2,840 15,332 2,829 2,829

2013 0.0 0.0 0.0 0 2,933 15,758 2,909 2,909

2014 0.0 0.0 0.0 0 3,019 16,145 2,981 2,981

2015 0.0 0.0 0.0 0 3,103 16,510 3,049 3,049

2016 0.0 0.0 0.0 0 3,175 16,809 3,103 3,103

2017 0.0 0.0 0.0 0 3,234 17,115 3,141 3,141

2018 0.0 0.0 0.0 0 3,278 17,422 3,162 3,162

2019 0.0 0.0 0.0 0 3,307 17,725 3,164 3,164

2020 0.0 0.0 0.0 0 3,340 18,031 3,146 3,146

2021 0.0 0.0 0.0 0 3,358 18,343 3,109 3,109

2022 0.0 0.0 0.0 0 3,363 18,660 3,053 3,053

2023 0.0 0.0 0.0 0 3,355 18,984 2,977 2,977

2024 0.0 0.0 0.0 0 3,331 19,313 2,878 2,878

2025 0.0 0.0 0.0 0 3,292 19,648 2,758 2,758

2026 0.0 0.0 0.0 0 3,239 19,986 2,616 2,616

2027 0.0 0.0 0.0 0 3,171 20,333 2,452 2,452

2028 0.0 0.0 0.0 0 3,090 20,684 2,266 2,266

2029 0.0 0.0 0.0 0 2,997 21,046 2,060 2,060

2030 0.0 0.0 0.0 0 2,908 21,416 1,833 1,833

2031 0.0 0.0 0.0 0 2,810 21,795 1,587 1,587

2032 0.0 0.0 0.0 0 2,706 22,185 1,323 1,323

2033 0.0 0.0 0.0 0 2,595 22,581 1,041 1,041

2034 0.0 0.0 0.0 0 2,479 22,987 743 743

2035 0.0 0.0 0.0 0 2,360 23,398 429 429

2036 0.0 0.0 0.0 0 2,240 23,817 101 101

2037 0.0 0.0 0.0 0 2,119 24,248 -243 -243

2038 0.0 0.0 0.0 0 1,999 24,690 -599 -599

2039 0.0 0.0 0.0 0 1,881 25,141 -968 -968

2040 0.0 0.0 0.0 0 1,836 25,599 -1,348 -1,348

2041 0.0 0.0 0.0 0 1,801 26,062 -1,739 -1,739

2042 0.0 0.0 0.0 0 1,774 26,533 -2,143 -2,143

2043 0.0 0.0 0.0 0 1,755 27,014 -2,559 -2,559

2044 0.0 0.0 0.0 0 1,745 27,500 -2,989 -2,989

2045 0.0 0.0 0.0 0 1,744 27,993 -3,432 -3,432

2046 0.0 0.0 0.0 0 1,750 28,491 -3,891 -3,891

2047 0.0 0.0 0.0 0 1,766 28,995 -4,365 -4,365

2048 0.0 0.0 0.0 0 1,790 29,506 -4,856 -4,856

2049 0.0 0.0 0.0 0 1,824 30,023 -5,364 -5,364

2050 0.0 0.0 0.0 0 1,827 30,544 -5,890 -5,890

2051 0.0 0.0 0.0 0 1,835 31,072 -6,435 -6,435

2052 0.0 0.0 0.0 0 1,850 31,610 -7,001 -7,001

2053 0.0 0.0 0.0 0 1,871 32,155 -7,590 -7,590

2054 0.0 0.0 0.0 0 1,899 32,709 -8,202 -8,202

2055 0.0 0.0 0.0 0 1,932 33,271 -8,840 -8,840

2056 0.0 0.0 0.0 0 1,971 33,843 -9,504 -9,504

2057 0.0 0.0 0.0 0 2,015 34,427 -10,197 -10,197

2058 0.0 0.0 0.0 0 2,066 35,021 -10,918 -10,918

2059 0.0 0.0 0.0 0 2,122 35,627 -11,670 -11,670

2060 0.0 0.0 0.0 0 2,162 36,243 -12,453 -12,453

2061 0.0 0.0 0.0 0 2,206 36,867 -13,268 -13,268

2062 0.0 0.0 0.0 0 2,256 37,501 -14,117 -14,117

2063 0.0 0.0 0.0 0 2,311 38,145 -15,000 -15,000

2064 0.0 0.0 0.0 0 2,371 38,800 -15,920 -15,920

2065 0.0 0.0 0.0 0 2,437 39,463 -16,878 -16,878

2066 0.0 0.0 0.0 0 2,507 40,139 -17,876 -17,876

2067 0.0 0.0 0.0 0 2,582 40,827 -18,916 -18,916

2068 0.0 0.0 0.0 0 2,662 41,526 -19,999 -19,999

2069 0.0 0.0 0.0 0 2,745 42,234 -21,126 -21,126

2070 0.0 0.0 0.0 0 2,831 42,952 -22,301 -22,301

2071 0.0 0.0 0.0 0 2,920 43,681 -23,525 -23,525

2072 0.0 0.0 0.0 0 3,013 44,425 -24,799 -24,799

2073 0.0 0.0 0.0 0 3,107 45,179 -26,125 -26,125

2074 0.0 0.0 0.0 0 3,204 45,945 -27,506 -27,506

2075 0.0 0.0 0.0 0 3,302 46,719 -28,944 -28,944

2076 0.0 0.0 0.0 0 3,401 47,503 -30,440 -30,440

2077 0.0 0.0 0.0 0 3,502 48,298 -31,997 -31,997

2078 0.0 0.0 0.0 0 3,602 49,104 -33,617 -33,617

2079 0.0 0.0 0.0 0 3,703 49,921 -35,303 -35,303

2080 0.0 0.0 0.0 0 3,802 50,749 -37,056 -37,056

2081 0.0 0.0 0.0 0 3,901 51,591 -38,880 -38,880

2082 0.0 0.0 0.0 0 3,998 52,445 -40,777 -40,777

2083 0.0 0.0 0.0 0 4,093 53,314 -42,749 -42,749

2084 0.0 0.0 0.0 0 4,185 54,195 -44,800 -44,800

Total 2009-83 0.0

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary 1

 Theoretical Social Security is the current Social Security program with the assumption Social Security Administration

 that the law is modified to permit borrowing from the General Fund of the Treasury. January 13, 2010

Theoretical Social Security1

Proposal General Fund Transfers with Borrowing Authority

Net OASDI Trust Fund Assets at End of Year 

Present Value as of 1-1-09 Billions of Constant 2009 Dollars Billions of Constant 2009 Dollars
Table 3a - General Fund Transfers, OASDI Trust Fund Assets, and Theoretical OASDI Assets

NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Proposal

Total OASDI

Trust Fund

Annual Percentage Annual Accumulated as Assets Without General With Plan General

Amounts of Payroll Amounts of End of Year at End of Year GDP Fund Transfers Fund Transfers

Calendar (1) (2) (3) (4) (5) (6) (7) (8)

Year

2009 0.0 0.0 0.0 0 2,556 14,088 2,556 2,556

2010 0.0 0.0 0.0 0 2,650 14,348 2,650 2,650

2011 0.0 0.0 0.0 0 2,738 14,837 2,738 2,738

2012 0.0 0.0 0.0 0 2,861 15,332 2,829 2,829

2013 0.0 0.0 0.0 0 2,975 15,758 2,909 2,909

2014 0.0 0.0 0.0 0 3,084 16,145 2,981 2,981

2015 0.0 0.0 0.0 0 3,192 16,510 3,049 3,049

2016 0.0 0.0 0.0 0 3,289 16,809 3,103 3,103

2017 0.0 0.0 0.0 0 3,373 17,115 3,141 3,141

2018 0.0 0.0 0.0 0 3,444 17,422 3,162 3,162

2019 0.0 0.0 0.0 0 3,500 17,725 3,164 3,164

2020 0.0 0.0 0.0 0 3,561 18,031 3,146 3,146

2021 0.0 0.0 0.0 0 3,609 18,343 3,109 3,109

2022 0.0 0.0 0.0 0 3,645 18,660 3,053 3,053

2023 0.0 0.0 0.0 0 3,668 18,984 2,977 2,977

2024 0.0 0.0 0.0 0 3,676 19,313 2,878 2,878

2025 0.0 0.0 0.0 0 3,670 19,648 2,758 2,758

2026 0.0 0.0 0.0 0 3,649 19,986 2,616 2,616

2027 0.0 0.0 0.0 0 3,615 20,333 2,452 2,452

2028 0.0 0.0 0.0 0 3,567 20,684 2,266 2,266

2029 0.0 0.0 0.0 0 3,508 21,046 2,060 2,060

2030 0.0 0.0 0.0 0 3,466 21,416 1,833 1,833

2031 0.0 0.0 0.0 0 3,417 21,795 1,587 1,587

2032 0.0 0.0 0.0 0 3,359 22,185 1,323 1,323

2033 0.0 0.0 0.0 0 3,295 22,581 1,041 1,041

2034 0.0 0.0 0.0 0 3,226 22,987 743 743

2035 0.0 0.0 0.0 0 3,152 23,398 429 429

2036 0.0 0.0 0.0 0 3,074 23,817 101 101

2037 0.0 0.0 0.0 0 2,995 24,248 -243 -243

2038 0.0 0.0 0.0 0 2,914 24,690 -599 -599

2039 0.0 0.0 0.0 0 2,833 25,141 -968 -968

2040 0.0 0.0 0.0 0 2,797 25,599 -1,348 -1,348

2041 0.0 0.0 0.0 0 2,765 26,062 -1,739 -1,739

2042 0.0 0.0 0.0 0 2,737 26,533 -2,143 -2,143

2043 0.0 0.0 0.0 0 2,712 27,014 -2,559 -2,559

2044 0.0 0.0 0.0 0 2,690 27,500 -2,989 -2,989

2045 0.0 0.0 0.0 0 2,671 27,993 -3,432 -3,432

2046 0.0 0.0 0.0 0 2,654 28,491 -3,891 -3,891

2047 0.0 0.0 0.0 0 2,638 28,995 -4,365 -4,365

2048 0.0 0.0 0.0 0 2,624 29,506 -4,856 -4,856

2049 0.0 0.0 0.0 0 2,612 30,023 -5,364 -5,364

2050 0.0 0.0 0.0 0 2,601 30,544 -5,890 -5,890

2051 0.0 0.0 0.0 0 2,590 31,072 -6,435 -6,435

2052 0.0 0.0 0.0 0 2,579 31,610 -7,001 -7,001

2053 0.0 0.0 0.0 0 2,566 32,155 -7,590 -7,590

2054 0.0 0.0 0.0 0 2,551 32,709 -8,202 -8,202

2055 0.0 0.0 0.0 0 2,533 33,271 -8,840 -8,840

2056 0.0 0.0 0.0 0 2,512 33,843 -9,504 -9,504

2057 0.0 0.0 0.0 0 2,487 34,427 -10,197 -10,197

2058 0.0 0.0 0.0 0 2,457 35,021 -10,918 -10,918

2059 0.0 0.0 0.0 0 2,422 35,627 -11,670 -11,670

2060 0.0 0.0 0.0 0 2,477 36,243 -12,453 -12,453

2061 0.0 0.0 0.0 0 2,535 36,867 -13,268 -13,268

2062 0.0 0.0 0.0 0 2,593 37,501 -14,117 -14,117

2063 0.0 0.0 0.0 0 2,650 38,145 -15,000 -15,000

2064 0.0 0.0 0.0 0 2,706 38,800 -15,920 -15,920

2065 0.0 0.0 0.0 0 2,762 39,463 -16,878 -16,878

2066 0.0 0.0 0.0 0 2,817 40,139 -17,876 -17,876

2067 0.0 0.0 0.0 0 2,871 40,827 -18,916 -18,916

2068 0.0 0.0 0.0 0 2,924 41,526 -19,999 -19,999

2069 0.0 0.0 0.0 0 2,977 42,234 -21,126 -21,126

2070 0.0 0.0 0.0 0 3,029 42,952 -22,301 -22,301

2071 0.0 0.0 0.0 0 3,081 43,681 -23,525 -23,525

2072 0.0 0.0 0.0 0 3,134 44,425 -24,799 -24,799

2073 0.0 0.0 0.0 0 3,186 45,179 -26,125 -26,125

2074 0.0 0.0 0.0 0 3,240 45,945 -27,506 -27,506

2075 0.0 0.0 0.0 0 3,308 46,719 -28,944 -28,944

2076 0.0 0.0 0.0 0 3,380 47,503 -30,440 -30,440

2077 0.0 0.0 0.0 0 3,453 48,298 -31,997 -31,997

2078 0.0 0.0 0.0 0 3,529 49,104 -33,617 -33,617

2079 0.0 0.0 0.0 0 3,607 49,921 -35,303 -35,303

2080 0.0 0.0 0.0 0 3,688 50,749 -37,056 -37,056

2081 0.0 0.0 0.0 0 3,773 51,591 -38,880 -38,880

2082 0.0 0.0 0.0 0 3,861 52,445 -40,777 -40,777

2083 0.0 0.0 0.0 0 3,953 53,314 -42,749 -42,749

2084 0.0 0.0 0.0 0 4,050 54,195 -44,800 -44,800

Total 2009-83 0.0

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary 1

 Theoretical Social Security is the current Social Security program with the assumption Social Security Administration

 that the law is modified to permit borrowing from the General Fund of the Treasury. January 13, 2010

Theoretical Social Security1

Proposal General Fund Transfers with Borrowing Authority

Net OASDI Trust Fund Assets at End of Year 

Present Value as of 1-1-09 Billions of Constant 2009 Dollars Billions of Constant 2009 Dollars
Table 4a - General Fund Transfers, OASDI Trust Fund Assets, and Theoretical OASDI Assets

NAS Proposal: Option 4 -- Payroll Tax Increases Only

Proposal

Total OASDI

Trust Fund

Annual Percentage Annual Accumulated as Assets Without General With Plan General

Amounts of Payroll Amounts of End of Year at End of Year GDP Fund Transfers Fund Transfers

Calendar (1) (2) (3) (4) (5) (6) (7) (8)

Year

2009 0.0 0.0 0.0 0 2,556 14,088 2,556 2,556

2010 0.0 0.0 0.0 0 2,650 14,348 2,650 2,650

2011 0.0 0.0 0.0 0 2,738 14,837 2,738 2,738

2012 0.0 0.0 0.0 0 2,868 15,332 2,829 2,829

2013 0.0 0.0 0.0 0 2,992 15,758 2,909 2,909

2014 0.0 0.0 0.0 0 3,112 16,145 2,981 2,981

2015 0.0 0.0 0.0 0 3,234 16,510 3,049 3,049

2016 0.0 0.0 0.0 0 3,345 16,809 3,103 3,103

2017 0.0 0.0 0.0 0 3,446 17,115 3,141 3,141

2018 0.0 0.0 0.0 0 3,533 17,422 3,162 3,162

2019 0.0 0.0 0.0 0 3,607 17,725 3,164 3,164

2020 0.0 0.0 0.0 0 3,666 18,031 3,146 3,146

2021 0.0 0.0 0.0 0 3,712 18,343 3,109 3,109

2022 0.0 0.0 0.0 0 3,744 18,660 3,053 3,053

2023 0.0 0.0 0.0 0 3,762 18,984 2,977 2,977

2024 0.0 0.0 0.0 0 3,764 19,313 2,878 2,878

2025 0.0 0.0 0.0 0 3,782 19,648 2,758 2,758

2026 0.0 0.0 0.0 0 3,786 19,986 2,616 2,616

2027 0.0 0.0 0.0 0 3,777 20,333 2,452 2,452

2028 0.0 0.0 0.0 0 3,754 20,684 2,266 2,266

2029 0.0 0.0 0.0 0 3,719 21,046 2,060 2,060

2030 0.0 0.0 0.0 0 3,672 21,416 1,833 1,833

2031 0.0 0.0 0.0 0 3,615 21,795 1,587 1,587

2032 0.0 0.0 0.0 0 3,549 22,185 1,323 1,323

2033 0.0 0.0 0.0 0 3,475 22,581 1,041 1,041

2034 0.0 0.0 0.0 0 3,394 22,987 743 743

2035 0.0 0.0 0.0 0 3,309 23,398 429 429

2036 0.0 0.0 0.0 0 3,219 23,817 101 101

2037 0.0 0.0 0.0 0 3,126 24,248 -243 -243

2038 0.0 0.0 0.0 0 3,031 24,690 -599 -599

2039 0.0 0.0 0.0 0 2,937 25,141 -968 -968

2040 0.0 0.0 0.0 0 2,876 25,599 -1,348 -1,348

2041 0.0 0.0 0.0 0 2,819 26,062 -1,739 -1,739

2042 0.0 0.0 0.0 0 2,765 26,533 -2,143 -2,143

2043 0.0 0.0 0.0 0 2,714 27,014 -2,559 -2,559

2044 0.0 0.0 0.0 0 2,666 27,500 -2,989 -2,989

2045 0.0 0.0 0.0 0 2,621 27,993 -3,432 -3,432

2046 0.0 0.0 0.0 0 2,577 28,491 -3,891 -3,891

2047 0.0 0.0 0.0 0 2,535 28,995 -4,365 -4,365

2048 0.0 0.0 0.0 0 2,495 29,506 -4,856 -4,856

2049 0.0 0.0 0.0 0 2,456 30,023 -5,364 -5,364

2050 0.0 0.0 0.0 0 2,428 30,544 -5,890 -5,890

2051 0.0 0.0 0.0 0 2,400 31,072 -6,435 -6,435

2052 0.0 0.0 0.0 0 2,370 31,610 -7,001 -7,001

2053 0.0 0.0 0.0 0 2,338 32,155 -7,590 -7,590

2054 0.0 0.0 0.0 0 2,304 32,709 -8,202 -8,202

2055 0.0 0.0 0.0 0 2,265 33,271 -8,840 -8,840

2056 0.0 0.0 0.0 0 2,222 33,843 -9,504 -9,504

2057 0.0 0.0 0.0 0 2,174 34,427 -10,197 -10,197

2058 0.0 0.0 0.0 0 2,121 35,021 -10,918 -10,918

2059 0.0 0.0 0.0 0 2,062 35,627 -11,670 -11,670

2060 0.0 0.0 0.0 0 2,099 36,243 -12,453 -12,453

2061 0.0 0.0 0.0 0 2,138 36,867 -13,268 -13,268

2062 0.0 0.0 0.0 0 2,176 37,501 -14,117 -14,117

2063 0.0 0.0 0.0 0 2,212 38,145 -15,000 -15,000

2064 0.0 0.0 0.0 0 2,246 38,800 -15,920 -15,920

2065 0.0 0.0 0.0 0 2,277 39,463 -16,878 -16,878

2066 0.0 0.0 0.0 0 2,304 40,139 -17,876 -17,876

2067 0.0 0.0 0.0 0 2,326 40,827 -18,916 -18,916

2068 0.0 0.0 0.0 0 2,345 41,526 -19,999 -19,999

2069 0.0 0.0 0.0 0 2,357 42,234 -21,126 -21,126

2070 0.0 0.0 0.0 0 2,438 42,952 -22,301 -22,301

2071 0.0 0.0 0.0 0 2,519 43,681 -23,525 -23,525

2072 0.0 0.0 0.0 0 2,596 44,425 -24,799 -24,799

2073 0.0 0.0 0.0 0 2,669 45,179 -26,125 -26,125

2074 0.0 0.0 0.0 0 2,739 45,945 -27,506 -27,506

2075 0.0 0.0 0.0 0 2,803 46,719 -28,944 -28,944

2076 0.0 0.0 0.0 0 2,863 47,503 -30,440 -30,440

2077 0.0 0.0 0.0 0 2,917 48,298 -31,997 -31,997

2078 0.0 0.0 0.0 0 2,965 49,104 -33,617 -33,617

2079 0.0 0.0 0.0 0 3,006 49,921 -35,303 -35,303

2080 0.0 0.0 0.0 0 3,074 50,749 -37,056 -37,056

2081 0.0 0.0 0.0 0 3,137 51,591 -38,880 -38,880

2082 0.0 0.0 0.0 0 3,193 52,445 -40,777 -40,777

2083 0.0 0.0 0.0 0 3,242 53,314 -42,749 -42,749

2084 0.0 0.0 0.0 0 3,282 54,195 -44,800 -44,800

Total 2009-83 0.0

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary 1

 Theoretical Social Security is the current Social Security program with the assumption Social Security Administration

 that the law is modified to permit borrowing from the General Fund of the Treasury. January 13, 2010

Theoretical Social Security1

with Borrowing Authority

Net OASDI Trust Fund Assets at End of Year 

Present Value as of 1-1-09

Proposal General Fund Transfers

Billions of Constant 2009 Dollars Billions of Constant 2009 Dollars
Table 1b - OASDI Changes & Unified Budget Effect (Present Value Dollars)

NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 0.2 0.2 -0.2 0.2

2013 2.4 2.4 -2.6 2.4

2014 6.6 6.6 -9.2 6.7

2015 11.5 11.5 -20.6 11.9

2016 18.9 18.9 -39.5 19.9

2017 25.3 25.3 -64.8 27.3

2018 30.9 30.9 -95.7 34.2

2019 35.7 35.7 -131.4 40.6

2020 39.7 39.7 -171.1 46.6

2021 42.9 42.9 -214.0 51.9

2022 45.4 45.4 -259.4 56.9

2023 47.7 47.7 -307.1 61.9

2024 49.9 49.9 -357.0 66.7

2025 51.9 51.9 -408.9 71.4

2026 53.3 53.3 -462.2 75.6

2027 55.0 55.0 -517.2 80.3

2028 57.0 57.0 -574.3 85.3

2029 59.2 59.2 -633.5 90.6

2030 61.6 61.6 -695.1 96.2

2031 64.3 64.3 -759.4 102.3

2032 66.9 66.9 -826.3 108.4

2033 69.3 69.3 -895.6 114.5

2034 71.5 71.5 -967.1 120.4

2035 73.6 73.6 -1,040.7 126.4

2036 75.1 75.1 -1,115.8 132.0

2037 76.9 76.9 -1,192.7 137.8

2038 78.6 78.6 -1,271.3 143.8

2039 80.4 80.4 -1,351.7 149.9

2040 82.1 82.1 -1,433.8 155.9

2041 83.6 83.6 -1,517.4 162.0

2042 85.1 85.1 -1,602.5 168.0

2043 86.5 86.5 -1,689.0 174.1

2044 87.9 87.9 -1,776.8 180.2

2045 89.2 89.2 -1,866.0 186.3

2046 90.3 90.3 -1,956.3 192.3

2047 91.5 91.5 -2,047.8 198.4

2048 92.7 92.7 -2,140.5 204.6

2049 93.8 93.8 -2,234.4 210.8

2050 95.0 95.0 -2,329.3 217.1

2051 96.2 96.2 -2,425.6 223.5

2052 97.3 97.3 -2,522.9 229.9

2053 98.4 98.4 -2,621.3 236.2

2054 99.3 99.3 -2,720.5 242.5

2055 100.0 100.0 -2,820.6 248.7

2056 100.7 100.7 -2,921.3 254.8

2057 101.2 101.2 -3,022.5 260.9

2058 101.7 101.7 -3,124.1 266.9

2059 102.0 102.0 -3,226.1 272.7

2060 102.2 102.2 -3,328.4 278.5

2061 102.2 102.2 -3,430.6 284.1

2062 102.2 102.2 -3,532.7 289.7

2063 102.2 102.2 -3,634.9 295.3

2064 102.2 102.2 -3,737.1 300.9

2065 102.2 102.2 -3,839.3 306.4

2066 102.4 102.4 -3,941.7 312.2

2067 102.3 102.3 -4,044.1 317.7

2068 102.0 102.0 -4,146.1 323.0

2069 101.5 101.5 -4,247.6 328.1

2070 100.8 100.8 -4,348.4 333.0

2071 100.2 100.2 -4,448.6 337.8

2072 99.5 99.5 -4,548.0 342.6

2073 98.8 98.8 -4,646.8 347.4

2074 98.1 98.1 -4,744.9 352.1

2075 97.4 97.4 -4,842.3 356.7

2076 96.7 96.7 -4,939.0 361.3

2077 96.1 96.1 -5,035.1 366.0

2078 95.5 95.5 -5,130.6 370.7

2079 95.0 95.0 -5,225.6 375.4

2080 94.6 94.6 -5,320.2 380.2

2081 94.2 94.2 -5,414.5 385.0

2082 93.9 93.9 -5,508.4 389.8

2083 93.7 93.7 -5,602.0 394.7

2084 93.4 93.4 -5,695.4 399.5

Total 2009-83 5,602.0

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

Billions of Present Value Dollars as of 1-1-2009

January 13, 2010
Table 2b - OASDI Changes & Unified Budget Effect (Present Value Dollars)

NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 10.1 10.1 -10.1 10.1

2013 11.1 11.1 -21.1 11.5

2014 11.8 11.8 -32.9 12.8

2015 12.7 12.7 -45.6 14.3

2016 13.7 13.7 -59.3 15.9

2017 15.0 15.0 -74.3 18.0

2018 16.6 16.6 -90.9 20.3

2019 18.3 18.3 -109.2 23.0

2020 34.3 34.3 -143.5 40.0

2021 36.7 36.7 -180.2 44.3

2022 38.5 38.5 -218.6 48.2

2023 40.3 40.3 -258.9 52.2

2024 42.1 42.1 -301.1 56.3

2025 44.0 44.0 -345.1 60.5

2026 45.9 45.9 -390.9 64.7

2027 47.8 47.8 -438.7 69.1

2028 49.6 49.6 -488.3 73.6

2029 51.5 51.5 -539.9 78.2

2030 61.6 61.6 -601.5 91.1

2031 63.7 63.7 -665.2 96.6

2032 65.5 65.5 -730.7 101.8

2033 67.1 67.1 -797.8 107.1

2034 68.7 68.7 -866.6 112.3

2035 70.3 70.3 -936.9 117.7

2036 71.8 71.8 -1,008.7 123.0

2037 73.3 73.3 -1,082.0 128.4

2038 74.7 74.7 -1,156.6 133.8

2039 76.0 76.0 -1,232.6 139.2

2040 106.1 106.1 -1,338.7 173.4

2041 108.1 108.1 -1,446.7 181.2

2042 108.8 108.8 -1,555.6 187.9

2043 109.6 109.6 -1,665.2 194.6

2044 110.3 110.3 -1,775.5 201.3

2045 111.0 111.0 -1,886.6 208.1

2046 111.7 111.7 -1,998.3 214.8

2047 112.4 112.4 -2,110.7 221.6

2048 113.0 113.0 -2,223.6 228.3

2049 113.4 113.4 -2,337.1 234.9

2050 101.1 101.1 -2,438.2 228.9

2051 101.2 101.2 -2,539.4 234.4

2052 101.8 101.8 -2,641.2 240.6

2053 102.4 102.4 -2,743.5 246.7

2054 103.0 103.0 -2,846.5 252.9

2055 103.5 103.5 -2,950.0 259.1

2056 104.1 104.1 -3,054.1 265.3

2057 104.6 104.6 -3,158.7 271.5

2058 105.1 105.1 -3,263.7 277.7

2059 105.5 105.5 -3,369.3 283.9

2060 100.3 100.3 -3,469.5 284.4

2061 100.5 100.5 -3,570.0 290.1

2062 100.8 100.8 -3,670.8 295.9

2063 101.1 101.1 -3,771.9 301.7

2064 101.3 101.3 -3,873.2 307.5

2065 101.5 101.5 -3,974.7 313.2

2066 101.6 101.6 -4,076.3 318.9

2067 101.7 101.7 -4,178.1 324.5

2068 101.7 101.7 -4,279.8 330.0

2069 101.6 101.6 -4,381.4 335.5

2070 101.5 101.5 -4,482.8 340.9

2071 101.2 101.2 -4,584.1 346.2

2072 101.0 101.0 -4,685.0 351.5

2073 100.6 100.6 -4,785.7 356.7

2074 100.2 100.2 -4,885.9 361.8

2075 99.8 99.8 -4,985.7 366.8

2076 99.2 99.2 -5,084.9 371.7

2077 98.7 98.7 -5,183.6 376.6

2078 98.1 98.1 -5,281.7 381.4

2079 97.4 97.4 -5,379.1 386.1

2080 96.8 96.8 -5,475.9 390.8

2081 96.1 96.1 -5,572.0 395.3

2082 95.3 95.3 -5,667.3 399.8

2083 94.6 94.6 -5,761.8 404.3

2084 93.7 93.7 -5,855.6 408.6

Total 2009-83 5,761.8

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

Billions of Present Value Dollars as of 1-1-2009

January 13, 2010
Table 3b - OASDI Changes & Unified Budget Effect (Present Value Dollars)

NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 27.9 27.9 -27.9 27.9

2013 29.9 29.9 -57.8 31.2

2014 30.7 30.7 -88.6 33.5

2015 31.6 31.6 -120.1 35.9

2016 32.3 32.3 -152.5 38.2

2017 33.3 33.3 -185.8 40.9

2018 34.6 34.6 -220.5 44.0

2019 36.0 36.0 -256.5 47.3

2020 51.6 51.6 -308.0 65.0

2021 53.5 53.5 -361.5 69.8

2022 54.9 54.9 -416.4 74.3

2023 56.2 56.2 -472.6 78.9

2024 57.5 57.5 -530.0 83.3

2025 58.7 58.7 -588.7 87.7

2026 59.8 59.8 -648.6 92.0

2027 60.9 60.9 -709.5 96.4

2028 61.9 61.9 -771.4 100.7

2029 62.7 62.7 -834.1 104.9

2030 79.9 79.9 -914.0 125.5

2031 81.0 81.0 -995.0 130.9

2032 81.3 81.3 -1,076.2 135.7

2033 81.5 81.5 -1,157.7 140.3

2034 81.5 81.5 -1,239.2 144.8

2035 81.5 81.5 -1,320.7 149.2

2036 81.4 81.4 -1,402.1 153.5

2037 81.2 81.2 -1,483.2 157.8

2038 80.9 80.9 -1,564.1 162.0

2039 80.5 80.5 -1,644.7 166.0

2040 98.1 98.1 -1,742.7 187.9

2041 98.0 98.0 -1,840.8 193.3

2042 97.2 97.2 -1,938.0 197.8

2043 96.4 96.4 -2,034.4 202.3

2044 95.5 95.5 -2,129.9 206.7

2045 94.6 94.6 -2,224.5 211.0

2046 93.7 93.7 -2,318.2 215.2

2047 92.7 92.7 -2,410.9 219.4

2048 91.7 91.7 -2,502.6 223.4

2049 90.6 90.6 -2,593.2 227.4

2050 89.6 89.6 -2,682.8 231.3

2051 88.5 88.5 -2,771.2 235.1

2052 87.4 87.4 -2,858.7 238.9

2053 86.4 86.4 -2,945.1 242.6

2054 85.4 85.4 -3,030.5 246.3

2055 84.4 84.4 -3,114.8 250.0

2056 83.4 83.4 -3,198.2 253.6

2057 82.4 82.4 -3,280.6 257.2

2058 81.5 81.5 -3,362.1 260.8

2059 80.5 80.5 -3,442.6 264.3

2060 101.8 101.8 -3,544.4 290.0

2061 101.6 101.6 -3,646.0 295.3

2062 100.4 100.4 -3,746.4 299.7

2063 99.4 99.4 -3,845.8 304.1

2064 98.4 98.4 -3,944.1 308.5

2065 97.4 97.4 -4,041.5 313.0

2066 96.6 96.6 -4,138.2 317.5

2067 95.9 95.9 -4,234.0 322.0

2068 95.2 95.2 -4,329.3 326.6

2069 94.7 94.7 -4,424.0 331.3

2070 94.2 94.2 -4,518.2 336.0

2071 93.8 93.8 -4,612.0 340.7

2072 93.5 93.5 -4,705.4 345.5

2073 93.2 93.2 -4,798.6 350.4

2074 93.0 93.0 -4,891.6 355.2

2075 95.1 95.1 -4,986.7 362.4

2076 95.0 95.0 -5,081.6 367.5

2077 94.9 94.9 -5,176.5 372.6

2078 94.8 94.8 -5,271.3 377.7

2079 94.7 94.7 -5,366.0 382.8

2080 94.7 94.7 -5,460.6 387.9

2081 94.7 94.7 -5,555.3 393.1

2082 94.7 94.7 -5,650.0 398.3

2083 94.7 94.7 -5,744.7 403.5

2084 94.7 94.7 -5,839.4 408.7

Total 2009-83 5,744.7

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

Billions of Present Value Dollars as of 1-1-2009

January 13, 2010
Table 4b - OASDI Changes & Unified Budget Effect (Present Value Dollars)

NAS Proposal: Option 4 -- Payroll Tax Increases Only

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 34.5 34.5 -34.5 34.5

2013 38.2 38.2 -72.7 39.8

2014 40.2 40.2 -112.9 43.7

2015 42.3 42.3 -155.3 47.8

2016 43.7 43.7 -199.0 51.3

2017 45.0 45.0 -244.0 54.9

2018 46.4 46.4 -290.4 58.7

2019 47.5 47.5 -337.9 62.5

2020 48.5 48.5 -386.5 66.2

2021 49.4 49.4 -435.9 70.0

2022 50.2 50.2 -486.1 73.7

2023 50.9 50.9 -537.0 77.4

2024 51.5 51.5 -588.5 80.9

2025 72.5 72.5 -661.0 104.7

2026 73.5 73.5 -734.5 109.6

2027 73.6 73.6 -808.1 113.7

2028 73.6 73.6 -881.8 117.8

2029 73.7 73.7 -955.4 121.9

2030 73.7 73.7 -1,029.1 125.9

2031 73.6 73.6 -1,102.8 129.9

2032 73.6 73.6 -1,176.4 133.9

2033 73.6 73.6 -1,250.0 137.9

2034 73.5 73.5 -1,323.5 141.8

2035 73.4 73.4 -1,396.9 145.7

2036 73.3 73.3 -1,470.2 149.7

2037 73.2 73.2 -1,543.4 153.5

2038 73.1 73.1 -1,616.5 157.4

2039 72.9 72.9 -1,689.4 161.3

2040 86.6 86.6 -1,776.0 178.9

2041 86.8 86.8 -1,862.8 183.9

2042 86.4 86.4 -1,949.2 188.3

2043 86.1 86.1 -2,035.3 192.6

2044 85.7 85.7 -2,121.0 196.9

2045 85.3 85.3 -2,206.3 201.2

2046 84.9 84.9 -2,291.1 205.4

2047 84.4 84.4 -2,375.6 209.6

2048 84.0 84.0 -2,459.5 213.8

2049 83.0 83.0 -2,542.5 217.4

2050 85.6 85.6 -2,628.1 224.5

2051 84.7 84.7 -2,712.7 228.3

2052 83.7 83.7 -2,796.4 231.9

2053 82.7 82.7 -2,879.0 235.5

2054 81.7 81.7 -2,960.7 239.0

2055 80.7 80.7 -3,041.4 242.5

2056 79.7 79.7 -3,121.1 245.9

2057 78.7 78.7 -3,199.8 249.3

2058 77.8 77.8 -3,277.6 252.7

2059 76.9 76.9 -3,354.4 256.0

2060 100.1 100.1 -3,454.5 283.4

2061 99.9 99.9 -3,554.4 288.7

2062 98.6 98.6 -3,653.0 292.9

2063 97.4 97.4 -3,750.5 297.1

2064 96.2 96.2 -3,846.7 301.2

2065 95.0 95.0 -3,941.7 305.3

2066 93.9 93.9 -4,035.6 309.3

2067 92.7 92.7 -4,128.3 313.3

2068 91.6 91.6 -4,219.9 317.2

2069 90.4 90.4 -4,310.3 321.1

2070 102.4 102.4 -4,412.7 338.0

2071 101.7 101.7 -4,514.4 342.9

2072 100.4 100.4 -4,614.8 347.1

2073 99.2 99.2 -4,714.0 351.4

2074 97.9 97.9 -4,811.9 355.5

2075 96.7 96.7 -4,908.6 359.7

2076 95.4 95.4 -5,004.0 363.7

2077 94.2 94.2 -5,098.2 367.7

2078 93.0 93.0 -5,191.2 371.6

2079 91.8 91.8 -5,283.1 375.5

2080 95.2 95.2 -5,378.3 384.0

2081 94.2 94.2 -5,472.5 388.1

2082 93.0 93.0 -5,565.4 392.0

2083 91.7 91.7 -5,657.2 395.9

2084 90.6 90.6 -5,747.7 399.7

Total 2009-83 5,657.2

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%. January 13, 2010

Billions of Present Value Dollars as of 1-1-2009
Table 1b.c - OASDI Changes & Unified Budget Effect (Constant Dollars)

NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 0.2 0.2 -0.2 0.2

2013 2.7 2.7 -3.0 2.8

2014 7.5 7.5 -10.7 7.8

2015 13.3 13.3 -24.6 14.2

2016 22.5 22.5 -48.2 24.3

2017 30.8 30.8 -80.9 34.0

2018 38.5 38.5 -122.4 43.7

2019 45.5 45.5 -172.3 53.2

2020 52.1 52.1 -230.3 62.7

2021 57.6 57.6 -295.8 71.8

2022 62.8 62.8 -368.7 80.9

2023 67.9 67.9 -449.2 90.6

2024 73.0 73.0 -537.3 100.3

2025 78.1 78.1 -633.3 110.6

2026 82.6 82.6 -736.6 120.5

2027 87.7 87.7 -848.2 131.7

2028 93.6 93.6 -969.1 144.0

2029 100.0 100.0 -1,100.0 157.4

2030 107.0 107.0 -1,242.0 171.9

2031 114.9 114.9 -1,396.2 188.1

2032 123.1 123.1 -1,563.3 205.1

2033 131.2 131.2 -1,743.6 222.8

2034 139.3 139.3 -1,937.3 241.3

2035 147.4 147.4 -2,145.2 260.6

2036 155.0 155.0 -2,366.8 280.0

2037 163.1 163.1 -2,603.1 300.9

2038 171.7 171.7 -2,855.2 323.0

2039 180.7 180.7 -3,123.9 346.4

2040 189.7 189.7 -3,409.6 370.8

2041 198.9 198.9 -3,713.1 396.3

2042 208.3 208.3 -4,035.0 423.0

2043 217.9 217.9 -4,376.1 451.0

2044 227.7 227.7 -4,737.2 480.3

2045 237.8 237.8 -5,119.2 511.0

2046 247.9 247.9 -5,522.6 542.9

2047 258.5 258.5 -5,948.6 576.4

2048 269.4 269.4 -6,398.2 611.6

2049 280.6 280.6 -6,872.4 648.4

2050 292.2 292.2 -7,372.3 687.1

2051 304.7 304.7 -7,899.4 727.9

2052 317.2 317.2 -8,454.7 770.5

2053 329.8 329.8 -9,039.1 814.7

2054 342.5 342.5 -9,653.5 860.6

2055 355.2 355.2 -10,298.7 908.2

2056 367.8 367.8 -10,975.6 957.4

2057 380.5 380.5 -11,685.2 1008.5

2058 393.2 393.2 -12,428.5 1061.6

2059 406.0 406.0 -13,206.5 1116.5

2060 418.7 418.7 -14,020.1 1173.3

2061 430.7 430.7 -14,869.6 1231.4

2062 443.1 443.1 -15,756.6 1292.0

2063 456.1 456.1 -16,682.6 1355.2

2064 469.3 469.3 -17,649.1 1420.9

2065 482.9 482.9 -18,657.6 1489.2

2066 497.8 497.8 -19,710.7 1561.3

2067 511.9 511.9 -20,808.8 1635.0

2068 525.1 525.1 -21,952.3 1710.3

2069 537.7 537.7 -23,141.9 1787.5

2070 549.6 549.6 -24,378.3 1866.7

2071 561.8 561.8 -25,663.1 1948.8

2072 574.2 574.2 -26,997.9 2033.8

2073 586.7 586.7 -28,384.2 2121.7

2074 599.5 599.5 -29,823.9 2212.8

2075 612.5 612.5 -31,318.8 2307.2

2076 625.7 625.7 -32,870.6 2404.8

2077 639.6 639.6 -34,481.7 2506.4

2078 654.4 654.4 -36,154.7 2612.2

2079 670.0 670.0 -37,892.2 2722.3

2080 686.3 686.3 -39,697.0 2836.8

2081 703.6 703.6 -41,571.8 2956.1

2082 721.6 721.6 -43,519.5 3080.0

2083 740.3 740.3 -45,543.0 3208.8

2084 759.5 759.5 -47,644.9 3342.4

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

Billions of Constant 2009 Dollars

January 13, 2010
Table 2b.c - OASDI Changes & Unified Budget Effect (Constant Dollars)

NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 11.1 11.1 -11.3 11.3

2013 12.4 12.4 -24.2 13.2

2014 13.4 13.4 -38.4 14.9

2015 14.7 14.7 -54.4 17.0

2016 16.3 16.3 -72.3 19.4

2017 18.3 18.3 -92.8 22.4

2018 20.6 20.6 -116.2 26.0

2019 23.4 23.4 -143.2 30.1

2020 44.9 44.9 -193.1 53.8

2021 49.3 49.3 -249.1 61.2

2022 53.2 53.2 -310.8 68.5

2023 57.3 57.3 -378.7 76.4

2024 61.7 61.7 -453.2 84.7

2025 66.3 66.3 -534.4 93.6

2026 71.1 71.1 -623.0 103.1

2027 76.1 76.1 -719.4 113.3

2028 81.5 81.5 -824.0 124.2

2029 87.0 87.0 -937.4 135.8

2030 107.1 107.1 -1,074.7 162.8

2031 113.9 113.9 -1,223.0 177.6

2032 120.4 120.4 -1,382.3 192.6

2033 127.1 127.1 -1,553.1 208.4

2034 133.9 133.9 -1,735.9 225.1

2035 140.9 140.9 -1,931.1 242.5

2036 148.1 148.1 -2,139.4 260.9

2037 155.5 155.5 -2,361.5 280.3

2038 163.1 163.1 -2,597.7 300.5

2039 170.7 170.7 -2,848.6 321.7

2040 245.2 245.2 -3,183.4 412.4

2041 257.1 257.1 -3,540.1 443.5

2042 266.5 266.5 -3,916.9 473.1

2043 276.1 276.1 -4,314.4 504.2

2044 286.0 286.0 -4,733.7 536.8

2045 296.2 296.2 -5,175.6 570.9

2046 306.7 306.7 -5,641.1 606.5

2047 317.4 317.4 -6,131.2 643.7

2048 328.3 328.3 -6,646.6 682.4

2049 339.2 339.2 -7,188.2 722.6

2050 311.2 311.2 -7,716.7 724.3

2051 320.4 320.4 -8,270.1 763.5

2052 331.7 331.7 -8,851.0 806.2

2053 343.3 343.3 -9,460.7 850.8

2054 355.2 355.2 -10,100.4 897.4

2055 367.5 367.5 -10,771.3 946.0

2056 380.1 380.1 -11,474.6 996.7

2057 393.2 393.2 -12,211.8 1049.7

2058 406.5 406.5 -12,984.0 1104.8

2059 419.9 419.9 -13,792.4 1162.1

2060 410.7 410.7 -14,614.8 1198.1

2061 423.3 423.3 -15,474.1 1257.3

2062 437.1 437.1 -16,372.4 1319.8

2063 451.1 451.1 -17,311.1 1384.7

2064 465.2 465.2 -18,291.7 1452.0

2065 479.6 479.6 -19,315.4 1521.9

2066 494.2 494.2 -20,383.8 1594.5

2067 508.8 508.8 -21,498.2 1669.7

2068 523.6 523.6 -22,660.2 1747.5

2069 538.3 538.3 -23,871.0 1828.0

2070 553.0 553.0 -25,132.0 1911.3

2071 567.9 567.9 -26,444.9 1997.4

2072 582.7 582.7 -27,811.2 2086.5

2073 597.6 597.6 -29,232.4 2178.7

2074 612.5 612.5 -30,710.1 2273.9

2075 627.3 627.3 -32,245.9 2372.3

2076 642.2 642.2 -33,841.5 2473.9

2077 657.1 657.1 -35,498.7 2579.0

2078 672.0 672.0 -37,219.4 2687.6

2079 687.0 687.0 -39,005.4 2799.8

2080 702.1 702.1 -40,858.6 2915.6

2081 717.2 717.2 -42,781.1 3035.4

2082 732.3 732.3 -44,774.9 3159.0

2083 747.4 747.4 -46,842.1 3286.7

2084 762.4 762.4 -48,984.6 3418.4

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

Billions of Constant 2009 Dollars

January 13, 2010
Table 3b.c - OASDI Changes & Unified Budget Effect (Constant Dollars)

NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 30.7 30.7 -31.4 31.4

2013 33.5 33.5 -66.2 35.7

2014 35.0 35.0 -103.3 39.1

2015 36.7 36.7 -143.2 42.7

2016 38.5 38.5 -185.9 46.6

2017 40.6 40.6 -231.9 51.0

2018 43.2 43.2 -281.9 56.3

2019 46.0 46.0 -336.3 62.1

2020 67.5 67.5 -414.5 87.4

2021 72.0 72.0 -499.8 96.6

2022 75.8 75.8 -591.9 105.7

2023 79.9 79.9 -691.2 115.5

2024 84.1 84.1 -797.7 125.4

2025 88.4 88.4 -911.8 135.8

2026 92.7 92.7 -1,033.6 146.6

2027 97.1 97.1 -1,163.5 158.0

2028 101.6 101.6 -1,301.6 169.9

2029 105.9 105.9 -1,448.3 182.1

2030 138.8 138.8 -1,633.1 224.2

2031 144.7 144.7 -1,829.3 240.7

2032 149.5 149.5 -2,036.1 256.6

2033 154.2 154.2 -2,253.7 273.1

2034 158.8 158.8 -2,482.4 290.0

2035 163.3 163.3 -2,722.3 307.6

2036 167.8 167.8 -2,973.9 325.7

2037 172.3 172.3 -3,237.3 344.4

2038 176.6 176.6 -3,512.9 363.7

2039 180.9 180.9 -3,800.8 383.6

2040 226.7 226.7 -4,144.2 446.9

2041 233.3 233.3 -4,504.3 473.0

2042 238.1 238.1 -4,879.8 498.2

2043 242.8 242.8 -5,271.0 524.2

2044 247.6 247.6 -5,678.6 551.1

2045 252.4 252.4 -6,102.8 578.9

2046 257.1 257.1 -6,544.2 607.6

2047 261.8 261.8 -7,003.2 637.3

2048 266.5 266.5 -7,480.4 667.9

2049 271.0 271.0 -7,976.1 699.4

2050 275.6 275.6 -8,490.8 732.0

2051 280.2 280.2 -9,025.2 765.7

2052 284.9 284.9 -9,580.0 800.6

2053 289.7 289.7 -10,155.7 836.7

2054 294.5 294.5 -10,753.2 874.1

2055 299.5 299.5 -11,373.1 912.8

2056 304.6 304.6 -12,016.2 952.9

2057 309.8 309.8 -12,683.2 994.4

2058 315.1 315.1 -13,375.1 1037.3

2059 320.5 320.5 -14,092.6 1081.8

2060 417.0 417.0 -14,930.2 1221.4

2061 428.0 428.0 -15,803.3 1279.8

2062 435.5 435.5 -16,709.6 1336.7

2063 443.4 443.4 -17,650.2 1395.7

2064 451.6 451.6 -18,626.5 1457.1

2065 460.4 460.4 -19,640.2 1521.0

2066 469.7 469.7 -20,692.9 1587.6

2067 479.7 479.7 -21,786.3 1657.1

2068 490.3 490.3 -22,922.4 1729.5

2069 501.6 501.6 -24,103.0 1805.0

2070 513.5 513.5 -25,330.2 1883.6

2071 526.1 526.1 -26,605.9 1965.6

2072 539.4 539.4 -27,932.2 2051.1

2073 553.5 553.5 -29,311.5 2140.1

2074 568.1 568.1 -30,745.9 2232.7

2075 597.8 597.8 -32,252.3 2343.9

2076 614.6 614.6 -33,819.8 2445.9

2077 631.6 631.6 -35,450.2 2551.6

2078 649.3 649.3 -37,146.1 2661.5

2079 667.7 667.7 -38,910.1 2775.8

2080 686.9 686.9 -40,744.9 2894.6

2081 706.7 706.7 -42,653.3 3018.2

2082 727.3 727.3 -44,638.3 3146.7

2083 748.5 748.5 -46,702.7 3280.2

2084 770.4 770.4 -48,849.4 3418.8

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

Billions of Constant 2009 Dollars

January 13, 2010
Table 4b.c - OASDI Changes & Unified Budget Effect (Constant Dollars)

NAS Proposal: Option 4 -- Payroll Tax Increases Only

 Change Change in Change

Changes in Annual Debt Held in Annual

 in OASDI Unified Budget by Public at Unified Budget

 Cash Flow Cash Flow End of Year Balance

(1) (2) (3) (4)

Year

2010 0.0 0.0 0.0 0.0

2011 0.0 0.0 0.0 0.0

2012 38.0 38.0 -38.9 38.9

2013 42.7 42.7 -83.2 45.5

2014 45.8 45.8 -131.7 51.0

2015 49.2 49.2 -185.1 57.0

2016 52.0 52.0 -242.6 62.6

2017 54.8 54.8 -304.5 68.5

2018 57.8 57.8 -371.3 75.1

2019 60.7 60.7 -443.1 81.9

2020 63.6 63.6 -520.1 89.1

2021 66.5 66.5 -602.7 96.7

2022 69.4 69.4 -691.0 104.7

2023 72.3 72.3 -785.4 113.3

2024 75.4 75.4 -885.7 121.7

2025 109.2 109.2 -1,023.8 162.2

2026 113.9 113.9 -1,170.6 174.7

2027 117.3 117.3 -1,325.2 186.5

2028 120.8 120.8 -1,487.9 198.8

2029 124.4 124.4 -1,659.0 211.6

2030 128.0 128.0 -1,838.8 225.0

2031 131.7 131.7 -2,027.5 238.8

2032 135.4 135.4 -2,225.6 253.3

2033 139.3 139.3 -2,433.4 268.4

2034 143.2 143.2 -2,651.2 284.1

2035 147.1 147.1 -2,879.4 300.4

2036 151.2 151.2 -3,118.4 317.4

2037 155.3 155.3 -3,368.6 335.1

2038 159.6 159.6 -3,630.4 353.5

2039 163.9 163.9 -3,904.2 372.7

2040 200.2 200.2 -4,223.3 425.4

2041 206.5 206.5 -4,558.1 449.9

2042 211.6 211.6 -4,908.0 474.0

2043 216.8 216.8 -5,273.4 499.0

2044 222.1 222.1 -5,654.7 525.0

2045 227.5 227.5 -6,052.7 552.0

2046 232.9 232.9 -6,467.8 580.0

2047 238.4 238.4 -6,900.6 609.0

2048 244.0 244.0 -7,351.7 639.0

2049 248.2 248.2 -7,820.1 668.7

2050 263.3 263.3 -8,317.7 710.6

2051 268.1 268.1 -8,834.6 743.5

2052 272.6 272.6 -9,371.2 777.2

2053 277.1 277.1 -9,928.0 812.0

2054 281.7 281.7 -10,505.6 848.1

2055 286.4 286.4 -11,104.9 885.4

2056 291.1 291.1 -11,726.3 923.9

2057 296.0 296.0 -12,370.8 963.9

2058 300.9 300.9 -13,039.0 1005.2

2059 305.9 305.9 -13,731.8 1047.9

2060 409.9 409.9 -14,551.6 1193.9

2061 420.8 420.8 -15,406.4 1251.2

2062 427.7 427.7 -16,293.2 1306.4

2063 434.8 434.8 -17,212.8 1363.4

2064 441.9 441.9 -18,166.4 1422.5

2065 449.0 449.0 -19,155.1 1483.5

2066 456.4 456.4 -20,180.0 1546.6

2067 463.8 463.8 -21,242.2 1611.9

2068 471.4 471.4 -22,343.1 1679.4

2069 479.0 479.0 -23,483.7 1749.2

2070 558.4 558.4 -24,739.0 1895.0

2071 570.4 570.4 -26,043.1 1977.9

2072 579.6 579.6 -27,394.4 2060.7

2073 588.9 588.9 -28,794.6 2146.3

2074 598.4 598.4 -30,245.0 2234.8

2075 607.9 607.9 -31,747.4 2326.2

2076 617.6 617.6 -33,303.3 2420.6

2077 627.4 627.4 -34,914.3 2518.1

2078 637.3 637.3 -36,582.2 2618.9

2079 647.3 647.3 -38,308.9 2723.0

2080 690.8 690.8 -40,130.3 2864.9

2081 703.0 703.0 -42,017.2 2979.9

2082 714.0 714.0 -43,970.0 3097.3

2083 725.2 725.2 -45,991.1 3218.6

2084 736.6 736.6 -48,082.4 3344.0

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

Billions of Constant 2009 Dollars

January 13, 2010
Table 1c - OASDI Cash Flow to General Fund of the Treasury - Proposal vs. Theoretical OASDI

NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

Percentage Percentage

Year of Payroll Current $ 1-1-2009 PV Constant 2009 $ of Payroll Current $ 1-1-2009 PV Constant 2009 $

2009 0.4 20 19 20 0.4 20 19 20

2010 0.3 19 18 19 0.3 19 18 19

2011 0.5 29 26 28 0.5 29 26 28

2012 0.6 39 33 37 0.6 39 33 36

2013 0.6 37 30 33 0.5 34 27 31

2014 0.4 28 22 25 0.3 19 15 17

2015 0.3 19 14 16 0.0 3 3 3

2016 0.1 9 6 8 -0.2 -18 -12 -15

2017 0.0 -4 -2 -3 -0.5 -42 -28 -34

2018 -0.2 -20 -13 -16 -0.8 -69 -44 -55

2019 -0.5 -40 -24 -31 -1.2 -100 -60 -76

2020 -0.7 -62 -35 -46 -1.5 -132 -75 -98

2021 -0.9 -85 -46 -62 -1.8 -165 -89 -120

2022 -1.1 -109 -56 -77 -2.0 -198 -101 -140

2023 -1.3 -134 -65 -92 -2.3 -233 -113 -160

2024 -1.5 -159 -73 -106 -2.5 -268 -123 -179

2025 -1.7 -185 -80 -120 -2.7 -305 -132 -198

2026 -1.8 -211 -86 -133 -2.9 -342 -139 -216

2027 -1.9 -237 -91 -146 -3.1 -379 -146 -233

2028 -2.1 -261 -95 -156 -3.3 -417 -152 -250

2029 -2.1 -282 -97 -164 -3.4 -454 -157 -264

2030 -2.2 -302 -99 -171 -3.6 -491 -160 -278

2031 -2.2 -319 -98 -176 -3.7 -528 -163 -291

2032 -2.2 -333 -97 -179 -3.7 -563 -164 -302

2033 -2.2 -346 -95 -180 -3.8 -597 -164 -311

2034 -2.2 -355 -92 -180 -3.8 -630 -164 -319

2035 -2.1 -362 -89 -179 -3.9 -661 -163 -326

2036 -2.1 -369 -86 -177 -3.9 -692 -161 -332

2037 -2.0 -372 -82 -173 -3.9 -721 -159 -337

2038 -1.9 -370 -77 -168 -3.8 -748 -156 -340

2039 -1.8 -364 -72 -161 -3.8 -773 -152 -341

2040 -1.7 -355 -66 -153 -3.7 -797 -148 -342

2041 -1.6 -344 -61 -144 -3.7 -820 -144 -343

2042 -1.4 -332 -55 -135 -3.6 -845 -140 -343

2043 -1.3 -319 -50 -126 -3.6 -870 -137 -344

2044 -1.2 -305 -45 -118 -3.5 -897 -133 -345

2045 -1.1 -292 -41 -109 -3.5 -927 -130 -347

2046 -1.0 -278 -37 -101 -3.5 -959 -127 -349

2047 -0.9 -264 -33 -93 -3.4 -993 -125 -352

2048 -0.8 -247 -29 -85 -3.4 -1,029 -122 -354

2049 -0.7 -227 -25 -76 -3.4 -1,065 -119 -357

2050 -0.6 -207 -22 -68 -3.4 -1,104 -117 -360

2051 -0.5 -187 -19 -59 -3.3 -1,148 -115 -364

2052 -0.5 -168 -16 -52 -3.3 -1,196 -113 -369

2053 -0.4 -150 -13 -45 -3.3 -1,249 -112 -375

2054 -0.3 -133 -11 -39 -3.3 -1,307 -111 -381

2055 -0.3 -118 -9 -34 -3.4 -1,369 -110 -389

2056 -0.2 -105 -8 -29 -3.4 -1,437 -109 -397

2057 -0.2 -93 -7 -25 -3.4 -1,509 -108 -405

2058 -0.2 -80 -5 -21 -3.4 -1,585 -107 -414

2059 -0.1 -67 -4 -17 -3.4 -1,664 -106 -423

2060 -0.1 -54 -3 -13 -3.5 -1,747 -105 -432

2061 -0.1 -44 -3 -11 -3.5 -1,835 -105 -441

2062 -0.1 -34 -2 -8 -3.5 -1,927 -104 -451

2063 0.0 -22 -1 -5 -3.5 -2,025 -103 -461

2064 0.0 -10 0 -2 -3.5 -2,129 -103 -471

2065 0.0 1 0 0 -3.6 -2,240 -102 -483

2066 0.0 17 1 4 -3.6 -2,359 -102 -494

2067 0.0 26 1 5 -3.6 -2,485 -101 -507

2068 0.0 29 1 6 -3.7 -2,619 -101 -519

2069 0.0 26 1 5 -3.7 -2,762 -101 -533

2070 0.0 17 1 3 -3.8 -2,912 -100 -546

2071 0.0 6 0 1 -3.8 -3,072 -100 -561

2072 0.0 -7 0 -1 -3.8 -3,241 -100 -575

2073 0.0 -23 -1 -4 -3.9 -3,420 -99 -591

2074 0.0 -40 -1 -7 -3.9 -3,608 -99 -606

2075 -0.1 -59 -2 -10 -4.0 -3,807 -99 -622

2076 -0.1 -81 -2 -13 -4.0 -4,016 -99 -639

2077 -0.1 -103 -2 -16 -4.1 -4,238 -98 -655

2078 -0.1 -124 -3 -19 -4.1 -4,474 -98 -673

2079 -0.1 -144 -3 -21 -4.1 -4,722 -98 -691

2080 -0.1 -164 -3 -23 -4.2 -4,985 -98 -710

2081 -0.1 -181 -3 -25 -4.2 -5,261 -98 -729

2082 -0.2 -196 -3 -26 -4.3 -5,553 -97 -748

2083 -0.2 -209 -3 -27 -4.3 -5,859 -97 -768

2084 -0.2 -223 -4 -28 -4.4 -6,181 -97 -788

Total 2009-83 -2,072 -7,674

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

 Equals net investment in special Treasury Bonds by the Trust Fund. January 13, 2010

 Proposal Theoretical Social Security with PAYGO Transfers

Net Amount of Cash-Flow from the OASDI 

Trust Funds to the General Fund of the

Billions of Dollars Billions of Dollars

Treasury During the Year1

Net Amount of Cash-Flow from the OASDI 

Trust Funds to the General Fund of the

Treasury During the Year1
Table 2c - OASDI Cash Flow to General Fund of the Treasury - Proposal vs. Theoretical OASDI

NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Percentage Percentage

Year of Payroll Current $ 1-1-2009 PV Constant 2009 $ of Payroll Current $ 1-1-2009 PV Constant 2009 $

2009 0.4 20 19 20 0.4 20 19 20

2010 0.3 19 18 19 0.3 19 18 19

2011 0.5 29 26 28 0.5 29 26 28

2012 0.8 51 43 47 0.6 39 33 36

2013 0.7 47 38 43 0.5 34 27 31

2014 0.5 35 27 31 0.3 19 15 17

2015 0.3 21 15 18 0.0 3 3 3

2016 0.0 2 1 2 -0.2 -18 -12 -15

2017 -0.2 -19 -13 -15 -0.5 -42 -28 -34

2018 -0.5 -43 -27 -34 -0.8 -69 -44 -55

2019 -0.8 -69 -42 -53 -1.2 -100 -60 -76

2020 -0.8 -72 -41 -54 -1.5 -132 -75 -98

2021 -1.0 -97 -52 -70 -1.8 -165 -89 -120

2022 -1.3 -123 -63 -87 -2.0 -198 -101 -140

2023 -1.5 -149 -72 -103 -2.3 -233 -113 -160

2024 -1.6 -176 -80 -118 -2.5 -268 -123 -179

2025 -1.8 -203 -88 -132 -2.7 -305 -132 -198

2026 -2.0 -229 -94 -145 -2.9 -342 -139 -216

2027 -2.1 -255 -99 -157 -3.1 -379 -146 -233

2028 -2.2 -281 -103 -168 -3.3 -417 -152 -250

2029 -2.3 -305 -105 -177 -3.4 -454 -157 -264

2030 -2.2 -302 -99 -171 -3.6 -491 -160 -278

2031 -2.2 -321 -99 -177 -3.7 -528 -163 -291

2032 -2.3 -338 -99 -181 -3.7 -563 -164 -302

2033 -2.3 -353 -97 -184 -3.8 -597 -164 -311

2034 -2.2 -366 -95 -185 -3.8 -630 -164 -319

2035 -2.2 -375 -92 -185 -3.9 -661 -163 -326

2036 -2.1 -383 -89 -184 -3.9 -692 -161 -332

2037 -2.1 -388 -85 -181 -3.9 -721 -159 -337

2038 -2.0 -389 -81 -177 -3.8 -748 -156 -340

2039 -1.9 -386 -76 -171 -3.8 -773 -152 -341

2040 -1.1 -226 -42 -97 -3.7 -797 -148 -342

2041 -0.9 -205 -36 -86 -3.7 -820 -144 -343

2042 -0.8 -189 -31 -77 -3.6 -845 -140 -343

2043 -0.7 -172 -27 -68 -3.6 -870 -137 -344

2044 -0.6 -154 -23 -59 -3.5 -897 -133 -345

2045 -0.5 -136 -19 -51 -3.5 -927 -130 -347

2046 -0.4 -117 -15 -42 -3.5 -959 -127 -349

2047 -0.3 -97 -12 -34 -3.4 -993 -125 -352

2048 -0.3 -76 -9 -26 -3.4 -1,029 -122 -354

2049 -0.2 -52 -6 -18 -3.4 -1,065 -119 -357

2050 -0.5 -149 -16 -49 -3.4 -1,104 -117 -360

2051 -0.4 -137 -14 -44 -3.3 -1,148 -115 -364

2052 -0.3 -121 -11 -37 -3.3 -1,196 -113 -369

2053 -0.3 -105 -9 -31 -3.3 -1,249 -112 -375

2054 -0.2 -90 -8 -26 -3.3 -1,307 -111 -381

2055 -0.2 -75 -6 -21 -3.4 -1,369 -110 -389

2056 -0.1 -60 -5 -17 -3.4 -1,437 -109 -397

2057 -0.1 -46 -3 -12 -3.4 -1,509 -108 -405

2058 -0.1 -30 -2 -8 -3.4 -1,585 -107 -414

2059 0.0 -12 -1 -3 -3.4 -1,664 -106 -423

2060 -0.2 -86 -5 -21 -3.5 -1,747 -105 -432

2061 -0.1 -75 -4 -18 -3.5 -1,835 -105 -441

2062 -0.1 -59 -3 -14 -3.5 -1,927 -104 -451

2063 -0.1 -44 -2 -10 -3.5 -2,025 -103 -461

2064 0.0 -28 -1 -6 -3.5 -2,129 -103 -471

2065 0.0 -14 -1 -3 -3.6 -2,240 -102 -483

2066 0.0 -1 0 0 -3.6 -2,359 -102 -494

2067 0.0 11 0 2 -3.6 -2,485 -101 -507

2068 0.0 21 1 4 -3.7 -2,619 -101 -519

2069 0.0 29 1 6 -3.7 -2,762 -101 -533

2070 0.0 35 1 7 -3.8 -2,912 -100 -546

2071 0.0 39 1 7 -3.8 -3,072 -100 -561

2072 0.0 41 1 7 -3.8 -3,241 -100 -575

2073 0.0 40 1 7 -3.9 -3,420 -99 -591

2074 0.0 38 1 6 -3.9 -3,608 -99 -606

2075 0.0 32 1 5 -4.0 -3,807 -99 -622

2076 0.0 23 1 4 -4.0 -4,016 -99 -639

2077 0.0 10 0 2 -4.1 -4,238 -98 -655

2078 0.0 -7 0 -1 -4.1 -4,474 -98 -673

2079 0.0 -28 -1 -4 -4.1 -4,722 -98 -691

2080 0.0 -53 -1 -8 -4.2 -4,985 -98 -710

2081 -0.1 -83 -2 -11 -4.2 -5,261 -98 -729

2082 -0.1 -117 -2 -16 -4.3 -5,553 -97 -748

2083 -0.1 -155 -3 -20 -4.3 -5,859 -97 -768

2084 -0.1 -201 -3 -26 -4.4 -6,181 -97 -788

Total 2009-83 -1,912 -7,674

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

 Equals net investment in special Treasury Bonds by the Trust Fund. January 13, 2010

Billions of Dollars Billions of Dollars

 Proposal Theoretical Social Security with PAYGO Transfers

Net Amount of Cash-Flow from the OASDI Net Amount of Cash-Flow from the OASDI 

Trust Funds to the General Fund of the Trust Funds to the General Fund of the

Treasury During the Year1 Treasury During the Year1
Table 3c - OASDI Cash Flow to General Fund of the Treasury - Proposal vs. Theoretical OASDI

NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Percentage Percentage

Year of Payroll Current $ 1-1-2009 PV Constant 2009 $ of Payroll Current $ 1-1-2009 PV Constant 2009 $

2009 0.4 20 19 20 0.4 20 19 20

2010 0.3 19 18 19 0.3 19 18 19

2011 0.5 29 26 28 0.5 29 26 28

2012 1.1 72 61 67 0.6 39 33 36

2013 1.1 71 57 64 0.5 34 27 31

2014 0.8 59 46 52 0.3 19 15 17

2015 0.6 46 34 40 0.0 3 3 3

2016 0.4 28 20 24 -0.2 -18 -12 -15

2017 0.1 8 6 7 -0.5 -42 -28 -34

2018 -0.2 -15 -9 -11 -0.8 -69 -44 -55

2019 -0.5 -40 -24 -30 -1.2 -100 -60 -76

2020 -0.5 -41 -24 -31 -1.5 -132 -75 -98

2021 -0.7 -66 -35 -48 -1.8 -165 -89 -120

2022 -0.9 -91 -46 -64 -2.0 -198 -101 -140

2023 -1.1 -117 -56 -80 -2.3 -233 -113 -160

2024 -1.3 -143 -65 -95 -2.5 -268 -123 -179

2025 -1.5 -169 -73 -110 -2.7 -305 -132 -198

2026 -1.7 -195 -80 -123 -2.9 -342 -139 -216

2027 -1.8 -221 -85 -136 -3.1 -379 -146 -233

2028 -2.0 -248 -90 -148 -3.3 -417 -152 -250

2029 -2.1 -272 -94 -158 -3.4 -454 -157 -264

2030 -1.8 -246 -80 -139 -3.6 -491 -160 -278

2031 -1.8 -265 -82 -146 -3.7 -528 -163 -291

2032 -1.9 -284 -83 -152 -3.7 -563 -164 -302

2033 -1.9 -301 -83 -157 -3.8 -597 -164 -311

2034 -1.9 -317 -82 -161 -3.8 -630 -164 -319

2035 -1.9 -330 -81 -163 -3.9 -661 -163 -326

2036 -1.9 -342 -80 -164 -3.9 -692 -161 -332

2037 -1.9 -352 -77 -164 -3.9 -721 -159 -337

2038 -1.8 -359 -75 -163 -3.8 -748 -156 -340

2039 -1.8 -363 -71 -160 -3.8 -773 -152 -341

2040 -1.3 -269 -50 -116 -3.7 -797 -148 -342

2041 -1.2 -262 -46 -110 -3.7 -820 -144 -343

2042 -1.1 -259 -43 -105 -3.6 -845 -140 -343

2043 -1.1 -256 -40 -101 -3.6 -870 -137 -344

2044 -1.0 -254 -38 -98 -3.5 -897 -133 -345

2045 -1.0 -253 -35 -95 -3.5 -927 -130 -347

2046 -0.9 -253 -34 -92 -3.5 -959 -127 -349

2047 -0.9 -254 -32 -90 -3.4 -993 -125 -352

2048 -0.8 -255 -30 -88 -3.4 -1,029 -122 -354

2049 -0.8 -256 -29 -86 -3.4 -1,065 -119 -357

2050 -0.8 -259 -27 -84 -3.4 -1,104 -117 -360

2051 -0.8 -264 -26 -84 -3.3 -1,148 -115 -364

2052 -0.8 -272 -26 -84 -3.3 -1,196 -113 -369

2053 -0.8 -284 -25 -85 -3.3 -1,249 -112 -375

2054 -0.8 -297 -25 -87 -3.3 -1,307 -111 -381

2055 -0.8 -314 -25 -89 -3.4 -1,369 -110 -389

2056 -0.8 -334 -25 -92 -3.4 -1,437 -109 -397

2057 -0.8 -356 -25 -96 -3.4 -1,509 -108 -405

2058 -0.8 -379 -26 -99 -3.4 -1,585 -107 -414

2059 -0.8 -404 -26 -103 -3.4 -1,664 -106 -423

2060 -0.1 -61 -4 -15 -3.5 -1,747 -105 -432

2061 -0.1 -56 -3 -13 -3.5 -1,835 -105 -441

2062 -0.1 -66 -4 -15 -3.5 -1,927 -104 -451

2063 -0.1 -77 -4 -18 -3.5 -2,025 -103 -461

2064 -0.1 -90 -4 -20 -3.5 -2,129 -103 -471

2065 -0.2 -103 -5 -22 -3.6 -2,240 -102 -483

2066 -0.2 -118 -5 -25 -3.6 -2,359 -102 -494

2067 -0.2 -132 -5 -27 -3.6 -2,485 -101 -507

2068 -0.2 -147 -6 -29 -3.7 -2,619 -101 -519

2069 -0.2 -161 -6 -31 -3.7 -2,762 -101 -533

2070 -0.2 -175 -6 -33 -3.8 -2,912 -100 -546

2071 -0.2 -190 -6 -35 -3.8 -3,072 -100 -561

2072 -0.2 -203 -6 -36 -3.8 -3,241 -100 -575

2073 -0.2 -215 -6 -37 -3.9 -3,420 -99 -591

2074 -0.2 -226 -6 -38 -3.9 -3,608 -99 -606

2075 -0.2 -149 -4 -24 -4.0 -3,807 -99 -622

2076 -0.2 -150 -4 -24 -4.0 -4,016 -99 -639

2077 -0.1 -154 -4 -24 -4.1 -4,238 -98 -655

2078 -0.1 -158 -3 -24 -4.1 -4,474 -98 -673

2079 -0.1 -160 -3 -23 -4.1 -4,722 -98 -691

2080 -0.1 -160 -3 -23 -4.2 -4,985 -98 -710

2081 -0.1 -158 -3 -22 -4.2 -5,261 -98 -729

2082 -0.1 -154 -3 -21 -4.3 -5,553 -97 -748

2083 -0.1 -146 -2 -19 -4.3 -5,859 -97 -768

2084 -0.1 -139 -2 -18 -4.4 -6,181 -97 -788

Total 2009-83 -1,929 -7,674

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

 Equals net investment in special Treasury Bonds by the Trust Fund. January 13, 2010

Billions of Dollars Billions of Dollars

 Proposal Theoretical Social Security with PAYGO Transfers

Net Amount of Cash-Flow from the OASDI Net Amount of Cash-Flow from the OASDI 

Trust Funds to the General Fund of the Trust Funds to the General Fund of the

Treasury During the Year1 Treasury During the Year1
Table 4c - OASDI Cash Flow to General Fund of the Treasury - Proposal vs. Theoretical OASDI

NAS Proposal: Option 4 -- Payroll Tax Increases Only

Percentage Percentage

Year of Payroll Current $ 1-1-2009 PV Constant 2009 $ of Payroll Current $ 1-1-2009 PV Constant 2009 $

2009 0.4 20 19 20 0.4 20 19 20

2010 0.3 19 18 19 0.3 19 18 19

2011 0.5 29 26 28 0.5 29 26 28

2012 1.3 79 68 74 0.6 39 33 36

2013 1.2 81 66 73 0.5 34 27 31

2014 1.0 71 55 63 0.3 19 15 17

2015 0.8 61 45 52 0.0 3 3 3

2016 0.6 45 31 37 -0.2 -18 -12 -15

2017 0.3 26 17 21 -0.5 -42 -28 -34

2018 0.0 4 3 3 -0.8 -69 -44 -55

2019 -0.2 -21 -12 -16 -1.2 -100 -60 -76

2020 -0.5 -47 -27 -35 -1.5 -132 -75 -98

2021 -0.8 -73 -40 -53 -1.8 -165 -89 -120

2022 -1.0 -100 -51 -71 -2.0 -198 -101 -140

2023 -1.2 -128 -62 -88 -2.3 -233 -113 -160

2024 -1.5 -156 -71 -104 -2.5 -268 -123 -179

2025 -1.2 -137 -59 -89 -2.7 -305 -132 -198

2026 -1.4 -162 -66 -102 -2.9 -342 -139 -216

2027 -1.6 -188 -73 -116 -3.1 -379 -146 -233

2028 -1.7 -215 -79 -129 -3.3 -417 -152 -250

2029 -1.8 -240 -83 -140 -3.4 -454 -157 -264

2030 -1.9 -265 -86 -150 -3.6 -491 -160 -278

2031 -2.0 -289 -89 -159 -3.7 -528 -163 -291

2032 -2.1 -310 -90 -166 -3.7 -563 -164 -302

2033 -2.1 -330 -91 -172 -3.8 -597 -164 -311

2034 -2.1 -347 -90 -176 -3.8 -630 -164 -319

2035 -2.1 -363 -89 -179 -3.9 -661 -163 -326

2036 -2.1 -377 -88 -181 -3.9 -692 -161 -332

2037 -2.1 -388 -85 -181 -3.9 -721 -159 -337

2038 -2.0 -397 -82 -180 -3.8 -748 -156 -340

2039 -2.0 -402 -79 -177 -3.8 -773 -152 -341

2040 -1.6 -331 -61 -142 -3.7 -797 -148 -342

2041 -1.5 -326 -57 -136 -3.7 -820 -144 -343

2042 -1.4 -324 -54 -132 -3.6 -845 -140 -343

2043 -1.3 -322 -51 -127 -3.6 -870 -137 -344

2044 -1.3 -320 -48 -123 -3.5 -897 -133 -345

2045 -1.2 -319 -45 -119 -3.5 -927 -130 -347

2046 -1.2 -319 -42 -116 -3.5 -959 -127 -349

2047 -1.1 -320 -40 -113 -3.4 -993 -125 -352

2048 -1.1 -320 -38 -110 -3.4 -1,029 -122 -354

2049 -1.0 -324 -36 -109 -3.4 -1,065 -119 -357

2050 -0.9 -296 -31 -97 -3.4 -1,104 -117 -360

2051 -0.9 -302 -30 -96 -3.3 -1,148 -115 -364

2052 -0.9 -312 -30 -96 -3.3 -1,196 -113 -369

2053 -0.9 -325 -29 -98 -3.3 -1,249 -112 -375

2054 -0.9 -341 -29 -100 -3.3 -1,307 -111 -381

2055 -0.9 -360 -29 -102 -3.4 -1,369 -110 -389

2056 -0.9 -383 -29 -106 -3.4 -1,437 -109 -397

2057 -0.9 -407 -29 -109 -3.4 -1,509 -108 -405

2058 -0.9 -434 -29 -113 -3.4 -1,585 -107 -414

2059 -1.0 -461 -29 -117 -3.4 -1,664 -106 -423

2060 -0.2 -90 -5 -22 -3.5 -1,747 -105 -432

2061 -0.2 -85 -5 -21 -3.5 -1,835 -105 -441

2062 -0.2 -99 -5 -23 -3.5 -1,927 -104 -451

2063 -0.2 -115 -6 -26 -3.5 -2,025 -103 -461

2064 -0.2 -134 -6 -30 -3.5 -2,129 -103 -471

2065 -0.2 -156 -7 -34 -3.6 -2,240 -102 -483

2066 -0.3 -181 -8 -38 -3.6 -2,359 -102 -494

2067 -0.3 -210 -9 -43 -3.6 -2,485 -101 -507

2068 -0.3 -242 -9 -48 -3.7 -2,619 -101 -519

2069 -0.4 -278 -10 -54 -3.7 -2,762 -101 -533

2070 0.1 64 2 12 -3.8 -2,912 -100 -546

2071 0.1 53 2 10 -3.8 -3,072 -100 -561

2072 0.0 23 1 4 -3.8 -3,241 -100 -575

2073 0.0 -10 0 -2 -3.9 -3,420 -99 -591

2074 -0.1 -46 -1 -8 -3.9 -3,608 -99 -606

2075 -0.1 -87 -2 -14 -4.0 -3,807 -99 -622

2076 -0.1 -132 -3 -21 -4.0 -4,016 -99 -639

2077 -0.2 -182 -4 -28 -4.1 -4,238 -98 -655

2078 -0.2 -238 -5 -36 -4.1 -4,474 -98 -673

2079 -0.3 -299 -6 -44 -4.1 -4,722 -98 -691

2080 -0.1 -132 -3 -19 -4.2 -4,985 -98 -710

2081 -0.1 -185 -3 -26 -4.2 -5,261 -98 -729

2082 -0.2 -252 -4 -34 -4.3 -5,553 -97 -748

2083 -0.2 -324 -5 -43 -4.3 -5,859 -97 -768

2084 -0.3 -406 -6 -52 -4.4 -6,181 -97 -788

Total 2009-83 -2,017 -7,674

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

 Equals net investment in special Treasury Bonds by the Trust Fund. January 13, 2010

Billions of Dollars Billions of Dollars

 Proposal Theoretical Social Security with PAYGO Transfers

Net Amount of Cash-Flow from the OASDI Net Amount of Cash-Flow from the OASDI 

Trust Funds to the General Fund of the Trust Funds to the General Fund of the

Treasury During the Year1 Treasury During the Year1
Table 1d - Change in Long-Range Trust Fund Assets / Unfunded Obligation

NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

Present Law OASDI Basic Proposal OASDI

Trust Fund Assets / Changes Total Change Trust Fund Assets /

Unfunded Obligation in OASDI Through Unfunded Obligation

Through End of Year Cash Flow End of Year Through End of Year

(1) (2) (3)=sum(2) (4)

Year

2010 2,454.8 0.0 0.0 2,454.8

2011 2,480.6 0.0 0.0 2,480.6

2012 2,513.4 0.2 0.2 2,513.6

2013 2,540.6 2.4 2.6 2,543.2

2014 2,555.4 6.6 9.2 2,564.5

2015 2,557.7 11.5 20.6 2,578.3

2016 2,545.1 18.9 39.5 2,584.6

2017 2,517.2 25.3 64.8 2,582.1

2018 2,473.2 30.9 95.7 2,569.0

2019 2,413.3 35.7 131.4 2,544.7

2020 2,338.0 39.7 171.1 2,509.1

2021 2,249.0 42.9 214.0 2,462.9

2022 2,147.6 45.4 259.4 2,407.0

2023 2,035.0 47.7 307.1 2,342.1

2024 1,912.3 49.9 357.0 2,269.3

2025 1,780.7 51.9 408.9 2,189.6

2026 1,641.3 53.3 462.2 2,103.5

2027 1,495.0 55.0 517.2 2,012.2

2028 1,342.7 57.0 574.3 1,917.0

2029 1,186.2 59.2 633.5 1,819.7

2030 1,026.0 61.6 695.1 1,721.1

2031 863.4 64.3 759.4 1,622.9

2032 699.4 66.9 826.3 1,525.8

2033 535.0 69.3 895.6 1,430.6

2034 371.0 71.5 967.1 1,338.1

2035 208.3 73.6 1040.7 1,249.0

2036 47.4 75.1 1115.8 1,163.2

2037 -111.2 76.9 1192.7 1,081.5

2038 -266.7 78.6 1271.3 1,004.6

2039 -418.7 80.4 1351.7 933.1

2040 -566.7 82.1 1433.8 867.1

2041 -710.8 83.6 1517.4 806.6

2042 -851.1 85.1 1602.5 751.4

2043 -987.7 86.5 1689.0 701.2

2044 -1,120.9 87.9 1776.8 655.9

2045 -1,251.0 89.2 1866.0 615.0

2046 -1,378.2 90.3 1956.3 578.1

2047 -1,502.8 91.5 2047.8 545.0

2048 -1,624.7 92.7 2140.5 515.8

2049 -1,744.0 93.8 2234.4 490.4

2050 -1,861.0 95.0 2329.3 468.4

2051 -1,975.9 96.2 2425.6 449.7

2052 -2,089.1 97.3 2522.9 433.8

2053 -2,200.9 98.4 2621.3 420.4

2054 -2,311.5 99.3 2720.5 409.1

2055 -2,421.0 100.0 2820.6 399.6

2056 -2,529.6 100.7 2921.3 391.7

2057 -2,637.5 101.2 3022.5 385.0

2058 -2,744.5 101.7 3124.1 379.6

2059 -2,850.8 102.0 3226.1 375.3

2060 -2,956.3 102.2 3328.4 372.0

2061 -3,061.1 102.2 3430.6 369.5

2062 -3,165.1 102.2 3532.7 367.7

2063 -3,268.4 102.2 3634.9 366.5

2064 -3,371.1 102.2 3737.1 366.1

2065 -3,473.2 102.2 3839.3 366.1

2066 -3,574.9 102.4 3941.7 366.8

2067 -3,676.2 102.3 4044.1 367.9

2068 -3,777.1 102.0 4146.1 369.0

2069 -3,877.6 101.5 4247.6 369.9

2070 -3,977.9 100.8 4348.4 370.5

2071 -4,077.8 100.2 4448.6 370.7

2072 -4,177.5 99.5 4548.0 370.5

2073 -4,277.0 98.8 4646.8 369.8

2074 -4,376.2 98.1 4744.9 368.7

2075 -4,475.1 97.4 4842.3 367.2

2076 -4,573.8 96.7 4939.0 365.2

2077 -4,672.3 96.1 5035.1 362.8

2078 -4,770.5 95.5 5130.6 360.1

2079 -4,868.5 95.0 5225.6 357.1

2080 -4,966.3 94.6 5320.2 353.9

2081 -5,063.9 94.2 5414.5 350.5

2082 -5,161.3 93.9 5508.4 347.1

2083 -5,258.4 93.7 5602.0 343.6

Total 2009-2083 5,602.0

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

(Billions of $, Present Value on 1-1-09)

January 13, 2010
Table 2d - Change in Long-Range Trust Fund Assets / Unfunded Obligation

NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Present Law OASDI Basic Proposal OASDI

Trust Fund Assets / Changes Total Change Trust Fund Assets /

Unfunded Obligation in OASDI Through Unfunded Obligation

Through End of Year Cash Flow End of Year Through End of Year

(1) (2) (3)=sum(2) (4)

Year

2010 2,454.8 0.0 0.0 2,454.8

2011 2,480.6 0.0 0.0 2,480.6

2012 2,513.4 10.1 10.1 2,523.5

2013 2,540.6 11.1 21.1 2,561.7

2014 2,555.4 11.8 32.9 2,588.3

2015 2,557.7 12.7 45.6 2,603.3

2016 2,545.1 13.7 59.3 2,604.4

2017 2,517.2 15.0 74.3 2,591.6

2018 2,473.2 16.6 90.9 2,564.1

2019 2,413.3 18.3 109.2 2,522.5

2020 2,338.0 34.3 143.5 2,481.5

2021 2,249.0 36.7 180.2 2,429.1

2022 2,147.6 38.5 218.6 2,366.2

2023 2,035.0 40.3 258.9 2,293.9

2024 1,912.3 42.1 301.1 2,213.4

2025 1,780.7 44.0 345.1 2,125.8

2026 1,641.3 45.9 390.9 2,032.2

2027 1,495.0 47.8 438.7 1,933.7

2028 1,342.7 49.6 488.3 1,831.1

2029 1,186.2 51.5 539.9 1,726.0

2030 1,026.0 61.6 601.5 1,627.5

2031 863.4 63.7 665.2 1,528.6

2032 699.4 65.5 730.7 1,430.1

2033 535.0 67.1 797.8 1,332.8

2034 371.0 68.7 866.6 1,237.6

2035 208.3 70.3 936.9 1,145.2

2036 47.4 71.8 1008.7 1,056.1

2037 -111.2 73.3 1082.0 970.8

2038 -266.7 74.7 1156.6 889.9

2039 -418.7 76.0 1232.6 814.0

2040 -566.7 106.1 1338.7 772.0

2041 -710.8 108.1 1446.7 735.9

2042 -851.1 108.8 1555.6 704.5

2043 -987.7 109.6 1665.2 677.4

2044 -1,120.9 110.3 1775.5 654.6

2045 -1,251.0 111.0 1886.6 635.5

2046 -1,378.2 111.7 1998.3 620.1

2047 -1,502.8 112.4 2110.7 607.9

2048 -1,624.7 113.0 2223.6 598.9

2049 -1,744.0 113.4 2337.1 593.0

2050 -1,861.0 101.1 2438.2 577.2

2051 -1,975.9 101.2 2539.4 563.5

2052 -2,089.1 101.8 2641.2 552.0

2053 -2,200.9 102.4 2743.5 542.6

2054 -2,311.5 103.0 2846.5 535.0

2055 -2,421.0 103.5 2950.0 529.0

2056 -2,529.6 104.1 3054.1 524.5

2057 -2,637.5 104.6 3158.7 521.2

2058 -2,744.5 105.1 3263.7 519.2

2059 -2,850.8 105.5 3369.3 518.4

2060 -2,956.3 100.3 3469.5 513.2

2061 -3,061.1 100.5 3570.0 508.9

2062 -3,165.1 100.8 3670.8 505.7

2063 -3,268.4 101.1 3771.9 503.5

2064 -3,371.1 101.3 3873.2 502.1

2065 -3,473.2 101.5 3974.7 501.5

2066 -3,574.9 101.6 4076.3 501.4

2067 -3,676.2 101.7 4178.1 501.9

2068 -3,777.1 101.7 4279.8 502.7

2069 -3,877.6 101.6 4381.4 503.8

2070 -3,977.9 101.5 4482.8 505.0

2071 -4,077.8 101.2 4584.1 506.2

2072 -4,177.5 101.0 4685.0 507.5

2073 -4,277.0 100.6 4785.7 508.7

2074 -4,376.2 100.2 4885.9 509.7

2075 -4,475.1 99.8 4985.7 510.5

2076 -4,573.8 99.2 5084.9 511.1

2077 -4,672.3 98.7 5183.6 511.3

2078 -4,770.5 98.1 5281.7 511.2

2079 -4,868.5 97.4 5379.1 510.6

2080 -4,966.3 96.8 5475.9 509.6

2081 -5,063.9 96.1 5572.0 508.0

2082 -5,161.3 95.3 5667.3 506.0

2083 -5,258.4 94.6 5761.8 503.4

Total 2009-2083 5,761.8

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

(Billions of $, Present Value on 1-1-09)

January 13, 2010
Table 3d - Change in Long-Range Trust Fund Assets / Unfunded Obligation

NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Present Law OASDI Basic Proposal OASDI

Trust Fund Assets / Changes Total Change Trust Fund Assets /

Unfunded Obligation in OASDI Through Unfunded Obligation

Through End of Year Cash Flow End of Year Through End of Year

(1) (2) (3)=sum(2) (4)

Year

2010 2,454.8 0.0 0.0 2,454.8

2011 2,480.6 0.0 0.0 2,480.6

2012 2,513.4 27.9 27.9 2,541.3

2013 2,540.6 29.9 57.8 2,598.4

2014 2,555.4 30.7 88.6 2,644.0

2015 2,557.7 31.6 120.1 2,677.8

2016 2,545.1 32.3 152.5 2,697.6

2017 2,517.2 33.3 185.8 2,703.0

2018 2,473.2 34.6 220.5 2,693.7

2019 2,413.3 36.0 256.5 2,669.8

2020 2,338.0 51.6 308.0 2,646.0

2021 2,249.0 53.5 361.5 2,610.5

2022 2,147.6 54.9 416.4 2,564.0

2023 2,035.0 56.2 472.6 2,507.6

2024 1,912.3 57.5 530.0 2,442.3

2025 1,780.7 58.7 588.7 2,369.4

2026 1,641.3 59.8 648.6 2,289.8

2027 1,495.0 60.9 709.5 2,204.4

2028 1,342.7 61.9 771.4 2,114.1

2029 1,186.2 62.7 834.1 2,020.3

2030 1,026.0 79.9 914.0 1,940.0

2031 863.4 81.0 995.0 1,858.4

2032 699.4 81.3 1076.2 1,775.7

2033 535.0 81.5 1157.7 1,692.7

2034 371.0 81.5 1239.2 1,610.2

2035 208.3 81.5 1320.7 1,529.0

2036 47.4 81.4 1402.1 1,449.5

2037 -111.2 81.2 1483.2 1,372.1

2038 -266.7 80.9 1564.1 1,297.4

2039 -418.7 80.5 1644.7 1,226.0

2040 -566.7 98.1 1742.7 1,176.0

2041 -710.8 98.0 1840.8 1,129.9

2042 -851.1 97.2 1938.0 1,086.9

2043 -987.7 96.4 2034.4 1,046.7

2044 -1,120.9 95.5 2129.9 1,009.0

2045 -1,251.0 94.6 2224.5 973.5

2046 -1,378.2 93.7 2318.2 940.0

2047 -1,502.8 92.7 2410.9 908.1

2048 -1,624.7 91.7 2502.6 877.9

2049 -1,744.0 90.6 2593.2 849.2

2050 -1,861.0 89.6 2682.8 821.8

2051 -1,975.9 88.5 2771.2 795.3

2052 -2,089.1 87.4 2858.7 769.5

2053 -2,200.9 86.4 2945.1 744.2

2054 -2,311.5 85.4 3030.5 719.0

2055 -2,421.0 84.4 3114.8 693.9

2056 -2,529.6 83.4 3198.2 668.6

2057 -2,637.5 82.4 3280.6 643.2

2058 -2,744.5 81.5 3362.1 617.5

2059 -2,850.8 80.5 3442.6 591.7

2060 -2,956.3 101.8 3544.4 588.1

2061 -3,061.1 101.6 3646.0 584.9

2062 -3,165.1 100.4 3746.4 581.3

2063 -3,268.4 99.4 3845.8 577.4

2064 -3,371.1 98.4 3944.1 573.0

2065 -3,473.2 97.4 4041.5 568.3

2066 -3,574.9 96.6 4138.2 563.3

2067 -3,676.2 95.9 4234.0 557.9

2068 -3,777.1 95.2 4329.3 552.2

2069 -3,877.6 94.7 4424.0 546.3

2070 -3,977.9 94.2 4518.2 540.3

2071 -4,077.8 93.8 4612.0 534.1

2072 -4,177.5 93.5 4705.4 527.9

2073 -4,277.0 93.2 4798.6 521.6

2074 -4,376.2 93.0 4891.6 515.4

2075 -4,475.1 95.1 4986.7 511.5

2076 -4,573.8 95.0 5081.6 507.8

2077 -4,672.3 94.9 5176.5 504.2

2078 -4,770.5 94.8 5271.3 500.8

2079 -4,868.5 94.7 5366.0 497.5

2080 -4,966.3 94.7 5460.6 494.3

2081 -5,063.9 94.7 5555.3 491.4

2082 -5,161.3 94.7 5650.0 488.7

2083 -5,258.4 94.7 5744.7 486.3

Total 2009-2083 5,744.7

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

(Billions of $, Present Value on 1-1-09)

January 13, 2010
Table 4d - Change in Long-Range Trust Fund Assets / Unfunded Obligation

NAS Proposal: Option 4 -- Payroll Tax Increases Only

Present Law OASDI Basic Proposal OASDI

Trust Fund Assets / Changes Total Change Trust Fund Assets /

Unfunded Obligation in OASDI Through Unfunded Obligation

Through End of Year Cash Flow End of Year Through End of Year

(1) (2) (3)=sum(2) (4)

Year

2010 2,454.8 0.0 0.0 2,454.8

2011 2,480.6 0.0 0.0 2,480.6

2012 2,513.4 34.5 34.5 2,547.9

2013 2,540.6 38.2 72.7 2,613.3

2014 2,555.4 40.2 112.9 2,668.3

2015 2,557.7 42.3 155.3 2,713.0

2016 2,545.1 43.7 199.0 2,744.1

2017 2,517.2 45.0 244.0 2,761.2

2018 2,473.2 46.4 290.4 2,763.7

2019 2,413.3 47.5 337.9 2,751.2

2020 2,338.0 48.5 386.5 2,724.5

2021 2,249.0 49.4 435.9 2,684.9

2022 2,147.6 50.2 486.1 2,633.7

2023 2,035.0 50.9 537.0 2,572.0

2024 1,912.3 51.5 588.5 2,500.8

2025 1,780.7 72.5 661.0 2,441.7

2026 1,641.3 73.5 734.5 2,375.8

2027 1,495.0 73.6 808.1 2,303.1

2028 1,342.7 73.6 881.8 2,224.5

2029 1,186.2 73.7 955.4 2,141.6

2030 1,026.0 73.7 1029.1 2,055.1

2031 863.4 73.6 1102.8 1,966.2

2032 699.4 73.6 1176.4 1,875.8

2033 535.0 73.6 1250.0 1,784.9

2034 371.0 73.5 1323.5 1,694.5

2035 208.3 73.4 1396.9 1,605.2

2036 47.4 73.3 1470.2 1,517.6

2037 -111.2 73.2 1543.4 1,432.2

2038 -266.7 73.1 1616.5 1,349.7

2039 -418.7 72.9 1689.4 1,270.7

2040 -566.7 86.6 1776.0 1,209.3

2041 -710.8 86.8 1862.8 1,151.9

2042 -851.1 86.4 1949.2 1,098.1

2043 -987.7 86.1 2035.3 1,047.5

2044 -1,120.9 85.7 2121.0 1,000.0

2045 -1,251.0 85.3 2206.3 955.3

2046 -1,378.2 84.9 2291.1 912.9

2047 -1,502.8 84.4 2375.6 872.8

2048 -1,624.7 84.0 2459.5 834.8

2049 -1,744.0 83.0 2542.5 798.5

2050 -1,861.0 85.6 2628.1 767.1

2051 -1,975.9 84.7 2712.7 736.8

2052 -2,089.1 83.7 2796.4 707.2

2053 -2,200.9 82.7 2879.0 678.1

2054 -2,311.5 81.7 2960.7 649.2

2055 -2,421.0 80.7 3041.4 620.4

2056 -2,529.6 79.7 3121.1 591.5

2057 -2,637.5 78.7 3199.8 562.3

2058 -2,744.5 77.8 3277.6 533.0

2059 -2,850.8 76.9 3354.4 503.6

2060 -2,956.3 100.1 3454.5 498.2

2061 -3,061.1 99.9 3554.4 493.3

2062 -3,165.1 98.6 3653.0 487.9

2063 -3,268.4 97.4 3750.5 482.1

2064 -3,371.1 96.2 3846.7 475.6

2065 -3,473.2 95.0 3941.7 468.5

2066 -3,574.9 93.9 4035.6 460.7

2067 -3,676.2 92.7 4128.3 452.1

2068 -3,777.1 91.6 4219.9 442.8

2069 -3,877.6 90.4 4310.3 432.7

2070 -3,977.9 102.4 4412.7 434.9

2071 -4,077.8 101.7 4514.4 436.6

2072 -4,177.5 100.4 4614.8 437.3

2073 -4,277.0 99.2 4714.0 437.0

2074 -4,376.2 97.9 4811.9 435.7

2075 -4,475.1 96.7 4908.6 433.5

2076 -4,573.8 95.4 5004.0 430.2

2077 -4,672.3 94.2 5098.2 426.0

2078 -4,770.5 93.0 5191.2 420.8

2079 -4,868.5 91.8 5283.1 414.6

2080 -4,966.3 95.2 5378.3 412.0

2081 -5,063.9 94.2 5472.5 408.5

2082 -5,161.3 93.0 5565.4 404.1

2083 -5,258.4 91.7 5657.2 398.7

Total 2009-2083 5,657.2

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.9%.

(Billions of $, Present Value on 1-1-09)

January 13, 2010
Table 1e - Present Law and Proposal Cost, Expenditures, and Income: As Percent of GDP

NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

Present Law OASDI Proposal OASDI

Expenditures Tax Expenditures Tax

Calendar Cost (Payable) Income Cost1 (Payable)

1 Income2

Year (1) (2) (3) (4) (5) (6)

2010 4.9 4.9 5.0 4.9 4.9 5.0

2011 4.8 4.8 5.0 4.8 4.8 5.0

2012 4.7 4.7 5.0 4.7 4.7 5.0

2013 4.7 4.7 4.9 4.7 4.7 4.9

2014 4.8 4.8 4.9 4.8 4.8 4.9

2015 4.9 4.9 4.9 4.8 4.8 4.9

2016 5.0 5.0 4.9 4.9 4.9 4.9

2017 5.1 5.1 4.9 4.9 4.9 4.9

2018 5.2 5.2 4.9 5.0 5.0 4.9

2019 5.3 5.3 4.9 5.0 5.0 4.9

2020 5.4 5.4 4.9 5.1 5.1 4.9

2021 5.5 5.5 4.9 5.2 5.2 4.9

2022 5.6 5.6 4.9 5.3 5.3 4.9

2023 5.7 5.7 4.9 5.3 5.3 4.8

2024 5.8 5.8 4.9 5.4 5.4 4.8

2025 5.9 5.9 4.8 5.4 5.4 4.8

2026 5.9 5.9 4.8 5.5 5.5 4.8

2027 6.0 6.0 4.8 5.5 5.5 4.8

2028 6.0 6.0 4.8 5.6 5.6 4.8

2029 6.1 6.1 4.8 5.6 5.6 4.8

2030 6.1 6.1 4.8 5.6 5.6 4.8

2031 6.1 6.1 4.8 5.6 5.6 4.8

2032 6.2 6.2 4.8 5.6 5.6 4.8

2033 6.2 6.2 4.8 5.6 5.6 4.8

2034 6.2 6.2 4.8 5.5 5.5 4.8

2035 6.2 6.2 4.8 5.5 5.5 4.7

2036 6.2 6.2 4.8 5.5 5.5 4.7

2037 6.1 5.2 4.8 5.4 5.4 4.7

2038 6.1 4.7 4.7 5.4 5.4 4.7

2039 6.1 4.7 4.7 5.3 5.3 4.7

2040 6.1 4.7 4.7 5.3 5.3 4.7

2041 6.0 4.7 4.7 5.2 5.2 4.7

2042 6.0 4.7 4.7 5.2 5.2 4.7

2043 6.0 4.7 4.7 5.1 5.1 4.7

2044 5.9 4.7 4.7 5.1 5.1 4.7

2045 5.9 4.7 4.7 5.0 5.0 4.7

2046 5.9 4.7 4.7 5.0 5.0 4.6

2047 5.9 4.7 4.7 5.0 5.0 4.6

2048 5.9 4.7 4.7 4.9 4.9 4.6

2049 5.8 4.7 4.7 4.9 4.9 4.6

2050 5.8 4.6 4.6 4.8 4.8 4.6

2051 5.8 4.6 4.6 4.8 4.8 4.6

2052 5.8 4.6 4.6 4.8 4.8 4.6

2053 5.8 4.6 4.6 4.7 4.7 4.6

2054 5.8 4.6 4.6 4.7 4.7 4.6

2055 5.8 4.6 4.6 4.7 4.7 4.6

2056 5.8 4.6 4.6 4.6 4.6 4.6

2057 5.8 4.6 4.6 4.6 4.6 4.5

2058 5.8 4.6 4.6 4.6 4.6 4.5

2059 5.8 4.6 4.6 4.6 4.6 4.5

2060 5.8 4.6 4.6 4.6 4.6 4.5

2061 5.8 4.6 4.6 4.5 4.5 4.5

2062 5.8 4.6 4.6 4.5 4.5 4.5

2063 5.8 4.6 4.6 4.5 4.5 4.5

2064 5.8 4.5 4.5 4.5 4.5 4.5

2065 5.8 4.5 4.5 4.5 4.5 4.5

2066 5.8 4.5 4.5 4.5 4.5 4.5

2067 5.8 4.5 4.5 4.5 4.5 4.5

2068 5.8 4.5 4.5 4.5 4.5 4.5

2069 5.8 4.5 4.5 4.4 4.4 4.5

2070 5.8 4.5 4.5 4.4 4.4 4.5

2071 5.8 4.5 4.5 4.4 4.4 4.4

2072 5.8 4.5 4.5 4.4 4.4 4.4

2073 5.8 4.5 4.5 4.4 4.4 4.4

2074 5.8 4.5 4.5 4.4 4.4 4.4

2075 5.8 4.5 4.5 4.4 4.4 4.4

2076 5.8 4.5 4.5 4.4 4.4 4.4

2077 5.8 4.5 4.5 4.4 4.4 4.4

2078 5.8 4.5 4.5 4.4 4.4 4.4

2079 5.8 4.4 4.4 4.4 4.4 4.4

2080 5.8 4.4 4.4 4.4 4.4 4.4

2081 5.8 4.4 4.4 4.4 4.4 4.4

2082 5.9 4.4 4.4 4.4 4.4 4.4

2083 5.9 4.4 4.4 4.4 4.4 4.4

2084 5.9 4.4 4.4 4.4 4.4 4.4

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

January 13, 2010
Table 2e - Present Law and Proposal Cost, Expenditures, and Income: As Percent of GDP

NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Present Law OASDI Proposal OASDI

Expenditures Tax Expenditures Tax

Calendar Cost (Payable) Income Cost1 (Payable)

1 Income2

Year (1) (2) (3) (4) (5) (6)

2010 4.9 4.9 5.0 4.9 4.9 5.0

2011 4.8 4.8 5.0 4.8 4.8 5.0

2012 4.7 4.7 5.0 4.7 4.7 5.0

2013 4.7 4.7 4.9 4.7 4.7 5.0

2014 4.8 4.8 4.9 4.8 4.8 5.0

2015 4.9 4.9 4.9 4.9 4.9 5.0

2016 5.0 5.0 4.9 5.0 5.0 5.0

2017 5.1 5.1 4.9 5.1 5.1 5.0

2018 5.2 5.2 4.9 5.1 5.1 5.0

2019 5.3 5.3 4.9 5.2 5.2 4.9

2020 5.4 5.4 4.9 5.3 5.3 5.0

2021 5.5 5.5 4.9 5.4 5.4 5.0

2022 5.6 5.6 4.9 5.5 5.5 5.0

2023 5.7 5.7 4.9 5.6 5.6 5.0

2024 5.8 5.8 4.9 5.6 5.6 5.0

2025 5.9 5.9 4.8 5.7 5.7 5.0

2026 5.9 5.9 4.8 5.7 5.7 5.0

2027 6.0 6.0 4.8 5.8 5.8 5.0

2028 6.0 6.0 4.8 5.8 5.8 5.0

2029 6.1 6.1 4.8 5.8 5.8 5.0

2030 6.1 6.1 4.8 5.8 5.8 5.0

2031 6.1 6.1 4.8 5.8 5.8 5.0

2032 6.2 6.2 4.8 5.8 5.8 5.0

2033 6.2 6.2 4.8 5.8 5.8 5.0

2034 6.2 6.2 4.8 5.8 5.8 5.0

2035 6.2 6.2 4.8 5.8 5.8 5.0

2036 6.2 6.2 4.8 5.8 5.8 5.0

2037 6.1 5.2 4.8 5.7 5.7 5.0

2038 6.1 4.7 4.7 5.7 5.7 5.0

2039 6.1 4.7 4.7 5.6 5.6 5.0

2040 6.1 4.7 4.7 5.6 5.6 5.2

2041 6.0 4.7 4.7 5.5 5.5 5.2

2042 6.0 4.7 4.7 5.5 5.5 5.2

2043 6.0 4.7 4.7 5.4 5.4 5.2

2044 5.9 4.7 4.7 5.4 5.4 5.2

2045 5.9 4.7 4.7 5.3 5.3 5.2

2046 5.9 4.7 4.7 5.3 5.3 5.1

2047 5.9 4.7 4.7 5.3 5.3 5.1

2048 5.9 4.7 4.7 5.2 5.2 5.1

2049 5.8 4.7 4.7 5.2 5.2 5.1

2050 5.8 4.6 4.6 5.1 5.1 5.0

2051 5.8 4.6 4.6 5.1 5.1 5.0

2052 5.8 4.6 4.6 5.1 5.1 5.0

2053 5.8 4.6 4.6 5.0 5.0 4.9

2054 5.8 4.6 4.6 5.0 5.0 4.9

2055 5.8 4.6 4.6 5.0 5.0 4.9

2056 5.8 4.6 4.6 5.0 5.0 4.9

2057 5.8 4.6 4.6 4.9 4.9 4.9

2058 5.8 4.6 4.6 4.9 4.9 4.9

2059 5.8 4.6 4.6 4.9 4.9 4.9

2060 5.8 4.6 4.6 4.9 4.9 4.8

2061 5.8 4.6 4.6 4.9 4.9 4.8

2062 5.8 4.6 4.6 4.8 4.8 4.8

2063 5.8 4.6 4.6 4.8 4.8 4.8

2064 5.8 4.5 4.5 4.8 4.8 4.8

2065 5.8 4.5 4.5 4.8 4.8 4.8

2066 5.8 4.5 4.5 4.8 4.8 4.8

2067 5.8 4.5 4.5 4.8 4.8 4.8

2068 5.8 4.5 4.5 4.7 4.7 4.8

2069 5.8 4.5 4.5 4.7 4.7 4.7

2070 5.8 4.5 4.5 4.7 4.7 4.7

2071 5.8 4.5 4.5 4.7 4.7 4.7

2072 5.8 4.5 4.5 4.7 4.7 4.7

2073 5.8 4.5 4.5 4.7 4.7 4.7

2074 5.8 4.5 4.5 4.7 4.7 4.7

2075 5.8 4.5 4.5 4.7 4.7 4.7

2076 5.8 4.5 4.5 4.7 4.7 4.7

2077 5.8 4.5 4.5 4.7 4.7 4.7

2078 5.8 4.5 4.5 4.7 4.7 4.7

2079 5.8 4.4 4.4 4.7 4.7 4.7

2080 5.8 4.4 4.4 4.7 4.7 4.7

2081 5.8 4.4 4.4 4.7 4.7 4.7

2082 5.9 4.4 4.4 4.7 4.7 4.6

2083 5.9 4.4 4.4 4.7 4.7 4.6

2084 5.9 4.4 4.4 4.7 4.7 4.6

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

January 13, 2010
Table 3e - Present Law and Proposal Cost, Expenditures, and Income: As Percent of GDP

NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Present Law OASDI Proposal OASDI

Expenditures Tax Expenditures Tax

Calendar Cost (Payable) Income Cost1 (Payable)

1 Income2

Year (1) (2) (3) (4) (5) (6)

2010 4.9 4.9 5.0 4.9 4.9 5.0

2011 4.8 4.8 5.0 4.8 4.8 5.0

2012 4.7 4.7 5.0 4.7 4.7 5.2

2013 4.7 4.7 4.9 4.7 4.7 5.1

2014 4.8 4.8 4.9 4.8 4.8 5.1

2015 4.9 4.9 4.9 4.9 4.9 5.1

2016 5.0 5.0 4.9 5.0 5.0 5.1

2017 5.1 5.1 4.9 5.1 5.1 5.1

2018 5.2 5.2 4.9 5.2 5.2 5.1

2019 5.3 5.3 4.9 5.3 5.3 5.1

2020 5.4 5.4 4.9 5.4 5.4 5.2

2021 5.5 5.5 4.9 5.4 5.4 5.2

2022 5.6 5.6 4.9 5.5 5.5 5.2

2023 5.7 5.7 4.9 5.6 5.6 5.2

2024 5.8 5.8 4.9 5.7 5.7 5.2

2025 5.9 5.9 4.8 5.7 5.7 5.2

2026 5.9 5.9 4.8 5.8 5.8 5.1

2027 6.0 6.0 4.8 5.8 5.8 5.1

2028 6.0 6.0 4.8 5.8 5.8 5.1

2029 6.1 6.1 4.8 5.9 5.9 5.1

2030 6.1 6.1 4.8 5.9 5.9 5.2

2031 6.1 6.1 4.8 5.9 5.9 5.2

2032 6.2 6.2 4.8 5.9 5.9 5.2

2033 6.2 6.2 4.8 5.9 5.9 5.2

2034 6.2 6.2 4.8 5.9 5.9 5.2

2035 6.2 6.2 4.8 5.9 5.9 5.2

2036 6.2 6.2 4.8 5.9 5.9 5.2

2037 6.1 5.2 4.8 5.9 5.9 5.2

2038 6.1 4.7 4.7 5.8 5.8 5.2

2039 6.1 4.7 4.7 5.8 5.8 5.2

2040 6.1 4.7 4.7 5.8 5.8 5.3

2041 6.0 4.7 4.7 5.7 5.7 5.3

2042 6.0 4.7 4.7 5.7 5.7 5.3

2043 6.0 4.7 4.7 5.7 5.7 5.3

2044 5.9 4.7 4.7 5.6 5.6 5.3

2045 5.9 4.7 4.7 5.6 5.6 5.3

2046 5.9 4.7 4.7 5.6 5.6 5.3

2047 5.9 4.7 4.7 5.6 5.6 5.3

2048 5.9 4.7 4.7 5.5 5.5 5.2

2049 5.8 4.7 4.7 5.5 5.5 5.2

2050 5.8 4.6 4.6 5.5 5.5 5.2

2051 5.8 4.6 4.6 5.5 5.5 5.2

2052 5.8 4.6 4.6 5.5 5.5 5.2

2053 5.8 4.6 4.6 5.5 5.5 5.2

2054 5.8 4.6 4.6 5.5 5.5 5.2

2055 5.8 4.6 4.6 5.5 5.5 5.2

2056 5.8 4.6 4.6 5.5 5.5 5.2

2057 5.8 4.6 4.6 5.4 5.4 5.2

2058 5.8 4.6 4.6 5.4 5.4 5.2

2059 5.8 4.6 4.6 5.4 5.4 5.2

2060 5.8 4.6 4.6 5.4 5.4 5.4

2061 5.8 4.6 4.6 5.4 5.4 5.4

2062 5.8 4.6 4.6 5.4 5.4 5.4

2063 5.8 4.6 4.6 5.4 5.4 5.4

2064 5.8 4.5 4.5 5.4 5.4 5.4

2065 5.8 4.5 4.5 5.4 5.4 5.4

2066 5.8 4.5 4.5 5.4 5.4 5.4

2067 5.8 4.5 4.5 5.4 5.4 5.4

2068 5.8 4.5 4.5 5.4 5.4 5.3

2069 5.8 4.5 4.5 5.4 5.4 5.3

2070 5.8 4.5 4.5 5.4 5.4 5.3

2071 5.8 4.5 4.5 5.4 5.4 5.3

2072 5.8 4.5 4.5 5.4 5.4 5.3

2073 5.8 4.5 4.5 5.4 5.4 5.3

2074 5.8 4.5 4.5 5.4 5.4 5.3

2075 5.8 4.5 4.5 5.4 5.4 5.3

2076 5.8 4.5 4.5 5.4 5.4 5.3

2077 5.8 4.5 4.5 5.3 5.3 5.3

2078 5.8 4.5 4.5 5.3 5.3 5.3

2079 5.8 4.4 4.4 5.3 5.3 5.3

2080 5.8 4.4 4.4 5.3 5.3 5.3

2081 5.8 4.4 4.4 5.3 5.3 5.3

2082 5.9 4.4 4.4 5.3 5.3 5.3

2083 5.9 4.4 4.4 5.3 5.3 5.2

2084 5.9 4.4 4.4 5.3 5.3 5.2

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

January 13, 2010
Table 4e - Present Law and Proposal Cost, Expenditures, and Income: As Percent of GDP

NAS Proposal: Option 4 -- Payroll Tax Increases Only

Present Law OASDI Proposal OASDI

Expenditures Tax Expenditures Tax

Calendar Cost (Payable) Income Cost1 (Payable)

1 Income2

Year (1) (2) (3) (4) (5) (6)

2010 4.9 4.9 5.0 4.9 4.9 5.0

2011 4.8 4.8 5.0 4.8 4.8 5.0

2012 4.7 4.7 5.0 4.7 4.7 5.2

2013 4.7 4.7 4.9 4.7 4.7 5.2

2014 4.8 4.8 4.9 4.8 4.8 5.2

2015 4.9 4.9 4.9 4.9 4.9 5.2

2016 5.0 5.0 4.9 5.0 5.0 5.2

2017 5.1 5.1 4.9 5.1 5.1 5.2

2018 5.2 5.2 4.9 5.2 5.2 5.2

2019 5.3 5.3 4.9 5.3 5.3 5.2

2020 5.4 5.4 4.9 5.4 5.4 5.2

2021 5.5 5.5 4.9 5.5 5.5 5.2

2022 5.6 5.6 4.9 5.6 5.6 5.2

2023 5.7 5.7 4.9 5.7 5.7 5.2

2024 5.8 5.8 4.9 5.8 5.8 5.2

2025 5.9 5.9 4.8 5.8 5.8 5.4

2026 5.9 5.9 4.8 5.9 5.9 5.4

2027 6.0 6.0 4.8 6.0 6.0 5.4

2028 6.0 6.0 4.8 6.0 6.0 5.4

2029 6.1 6.1 4.8 6.1 6.1 5.4

2030 6.1 6.1 4.8 6.1 6.1 5.4

2031 6.1 6.1 4.8 6.1 6.1 5.4

2032 6.2 6.2 4.8 6.1 6.1 5.4

2033 6.2 6.2 4.8 6.2 6.2 5.4

2034 6.2 6.2 4.8 6.2 6.2 5.4

2035 6.2 6.2 4.8 6.2 6.2 5.4

2036 6.2 6.2 4.8 6.1 6.1 5.4

2037 6.1 5.2 4.8 6.1 6.1 5.4

2038 6.1 4.7 4.7 6.1 6.1 5.4

2039 6.1 4.7 4.7 6.1 6.1 5.4

2040 6.1 4.7 4.7 6.1 6.1 5.5

2041 6.0 4.7 4.7 6.0 6.0 5.5

2042 6.0 4.7 4.7 6.0 6.0 5.5

2043 6.0 4.7 4.7 6.0 6.0 5.5

2044 5.9 4.7 4.7 5.9 5.9 5.5

2045 5.9 4.7 4.7 5.9 5.9 5.5

2046 5.9 4.7 4.7 5.9 5.9 5.5

2047 5.9 4.7 4.7 5.9 5.9 5.5

2048 5.9 4.7 4.7 5.8 5.8 5.5

2049 5.8 4.7 4.7 5.8 5.8 5.5

2050 5.8 4.6 4.6 5.8 5.8 5.5

2051 5.8 4.6 4.6 5.8 5.8 5.5

2052 5.8 4.6 4.6 5.8 5.8 5.5

2053 5.8 4.6 4.6 5.8 5.8 5.5

2054 5.8 4.6 4.6 5.8 5.8 5.5

2055 5.8 4.6 4.6 5.8 5.8 5.5

2056 5.8 4.6 4.6 5.8 5.8 5.4

2057 5.8 4.6 4.6 5.8 5.8 5.4

2058 5.8 4.6 4.6 5.8 5.8 5.4

2059 5.8 4.6 4.6 5.7 5.7 5.4

2060 5.8 4.6 4.6 5.7 5.7 5.7

2061 5.8 4.6 4.6 5.7 5.7 5.7

2062 5.8 4.6 4.6 5.7 5.7 5.7

2063 5.8 4.6 4.6 5.7 5.7 5.7

2064 5.8 4.5 4.5 5.7 5.7 5.7

2065 5.8 4.5 4.5 5.7 5.7 5.7

2066 5.8 4.5 4.5 5.7 5.7 5.6

2067 5.8 4.5 4.5 5.7 5.7 5.6

2068 5.8 4.5 4.5 5.7 5.7 5.6

2069 5.8 4.5 4.5 5.7 5.7 5.6

2070 5.8 4.5 4.5 5.8 5.8 5.8

2071 5.8 4.5 4.5 5.8 5.8 5.8

2072 5.8 4.5 4.5 5.8 5.8 5.8

2073 5.8 4.5 4.5 5.8 5.8 5.8

2074 5.8 4.5 4.5 5.8 5.8 5.8

2075 5.8 4.5 4.5 5.8 5.8 5.7

2076 5.8 4.5 4.5 5.8 5.8 5.7

2077 5.8 4.5 4.5 5.8 5.8 5.7

2078 5.8 4.5 4.5 5.8 5.8 5.7

2079 5.8 4.4 4.4 5.8 5.8 5.7

2080 5.8 4.4 4.4 5.8 5.8 5.8

2081 5.8 4.4 4.4 5.8 5.8 5.8

2082 5.9 4.4 4.4 5.8 5.8 5.8

2083 5.9 4.4 4.4 5.8 5.8 5.7

2084 5.9 4.4 4.4 5.8 5.8 5.7

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration

January 13, 2010
Table 1f - Proposal Change in Cost and Tax Income: As Percent of GDP

NAS Proposal: Option 1 -- Reductions in the Growth of Benefits Only

Calendar Tax Percent Proposal

Year Cost Income from Cost Trust Fund Ratio1

2010 0.0 0.0 360

2011 0.0 0.0 366

2012 0.0 0.0 91 369

2013 0.0 0.0 99 369

2014 0.0 0.0 101 368

2015 -0.1 0.0 101 367

2016 -0.1 0.0 101 367

2017 -0.2 0.0 101 365

2018 -0.2 0.0 102 362

2019 -0.3 0.0 102 357

2020 -0.3 0.0 102 351

2021 -0.3 0.0 102 345

2022 -0.3 0.0 102 337

2023 -0.4 0.0 103 329

2024 -0.4 0.0 103 320

2025 -0.4 0.0 103 311

2026 -0.4 0.0 103 301

2027 -0.4 0.0 103 290

2028 -0.5 0.0 103 279

2029 -0.5 0.0 103 268

2030 -0.5 0.0 103 257

2031 -0.5 0.0 103 246

2032 -0.6 0.0 103 234

2033 -0.6 0.0 103 224

2034 -0.6 0.0 103 213

2035 -0.7 0.0 104 202

2036 -0.7 0.0 104 192

2037 -0.7 0.0 104 182

2038 -0.7 0.0 104 172

2039 -0.7 0.0 104 163

2040 -0.8 0.0 104 155

2041 -0.8 0.0 104 147

2042 -0.8 0.0 104 140

2043 -0.8 0.0 104 133

2044 -0.9 0.0 104 126

2045 -0.9 0.0 104 121

2046 -0.9 0.0 104 115

2047 -0.9 0.0 104 111

2048 -0.9 0.0 104 106

2049 -1.0 0.0 104 103

2050 -1.0 0.0 104 100

2051 -1.0 0.0 104 97

2052 -1.0 0.0 104 95

2053 -1.1 0.0 104 93

2054 -1.1 0.0 104 92

2055 -1.1 0.0 104 91

2056 -1.1 0.0 104 90

2057 -1.1 0.0 104 90

2058 -1.2 0.0 104 90

2059 -1.2 0.0 104 90

2060 -1.2 0.0 104 90

2061 -1.2 0.0 104 91

2062 -1.2 0.0 104 92

2063 -1.2 0.0 104 93

2064 -1.3 0.0 104 94

2065 -1.3 0.0 104 95

2066 -1.3 0.0 104 96

2067 -1.3 -0.1 104 98

2068 -1.3 -0.1 104 100

2069 -1.3 -0.1 104 101

2070 -1.3 -0.1 104 103

2071 -1.3 -0.1 104 104

2072 -1.3 -0.1 104 105

2073 -1.4 -0.1 104 107

2074 -1.4 -0.1 104 108

2075 -1.4 -0.1 104 109

2076 -1.4 -0.1 104 110

2077 -1.4 -0.1 104 110

2078 -1.4 -0.1 104 111

2079 -1.4 -0.1 104 112

2080 -1.4 -0.1 104 112

2081 -1.4 -0.1 104 113

2082 -1.4 -0.1 104 113

2083 -1.4 -0.1 104 113

2084 -1.5 -0.1 104 114

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

The Trust Fund Ratio is the Trust Fund assets at the beginning of the year divided by the cost during the year January 13, 2010

Change as Percent of GDP in --
Table 2f - Proposal Change in Cost and Tax Income: As Percent of GDP

NAS Proposal: Option 2 -- Two-Thirds Benefit-Growth Reductions & One-Third Payroll Tax Increases

Calendar Tax Percent Proposal

Year Cost Income from Cost Trust Fund Ratio1

2010 0.0 0.0 360

2011 0.0 0.0 366

2012 0.0 0.1 5 369

2013 0.0 0.1 10 369

2014 0.0 0.1 15 368

2015 0.0 0.1 21 365

2016 0.0 0.1 28 362

2017 0.0 0.1 35 357

2018 -0.1 0.1 42 351

2019 -0.1 0.1 48 343

2020 -0.1 0.2 32 334

2021 -0.1 0.2 36 327

2022 -0.1 0.2 40 318

2023 -0.1 0.2 44 310

2024 -0.2 0.2 47 300

2025 -0.2 0.2 50 290

2026 -0.2 0.2 53 280

2027 -0.2 0.2 56 269

2028 -0.2 0.2 59 257

2029 -0.3 0.2 61 245

2030 -0.3 0.2 55 233

2031 -0.3 0.2 56 222

2032 -0.3 0.2 58 211

2033 -0.3 0.2 60 200

2034 -0.4 0.2 62 189

2035 -0.4 0.2 63 178

2036 -0.4 0.2 65 168

2037 -0.4 0.2 66 157

2038 -0.4 0.2 67 147

2039 -0.5 0.2 68 137

2040 -0.5 0.5 51 128

2041 -0.5 0.5 51 124

2042 -0.5 0.5 52 121

2043 -0.5 0.5 53 118

2044 -0.6 0.5 54 115

2045 -0.6 0.5 55 114

2046 -0.6 0.5 56 112

2047 -0.6 0.5 57 112

2048 -0.6 0.5 58 112

2049 -0.7 0.5 59 112

2050 -0.7 0.3 67 113

2051 -0.7 0.3 68 112

2052 -0.7 0.3 69 111

2053 -0.7 0.3 69 111

2054 -0.8 0.3 70 111

2055 -0.8 0.3 71 111

2056 -0.8 0.3 71 112

2057 -0.8 0.3 72 113

2058 -0.8 0.3 73 114

2059 -0.9 0.3 73 115

2060 -0.9 0.3 78 117

2061 -0.9 0.2 79 117

2062 -0.9 0.2 79 118

2063 -0.9 0.2 79 119

2064 -1.0 0.2 80 121

2065 -1.0 0.2 80 122

2066 -1.0 0.2 81 124

2067 -1.0 0.2 81 126

2068 -1.0 0.2 81 128

2069 -1.0 0.2 82 130

2070 -1.1 0.2 82 132

2071 -1.1 0.2 82 134

2072 -1.1 0.2 82 136

2073 -1.1 0.2 83 138

2074 -1.1 0.2 83 140

2075 -1.1 0.2 83 142

2076 -1.1 0.2 83 144

2077 -1.1 0.2 83 146

2078 -1.1 0.2 84 148

2079 -1.2 0.2 84 150

2080 -1.2 0.2 84 152

2081 -1.2 0.2 84 153

2082 -1.2 0.2 84 155

2083 -1.2 0.2 84 156

2084 -1.2 0.2 84 157

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

The Trust Fund Ratio is the Trust Fund assets at the beginning of the year divided by the cost during the year

Change as Percent of GDP in --

January 13, 2010
Table 3f - Proposal Change in Cost and Tax Income: As Percent of GDP

NAS Proposal: Option 3 -- One-Third Benefit-Growth Reductions & Two-Thirds Payroll Tax Increases

Calendar Tax Percent Proposal

Year Cost Income from Cost Trust Fund Ratio1

2010 0.0 0.0 360

2011 0.0 0.0 366

2012 0.0 0.2 1 369

2013 0.0 0.2 2 372

2014 0.0 0.2 4 373

2015 0.0 0.2 6 373

2016 0.0 0.2 9 372

2017 0.0 0.2 12 369

2018 0.0 0.2 16 365

2019 -0.1 0.2 20 359

2020 -0.1 0.3 17 353

2021 -0.1 0.3 20 347

2022 -0.1 0.3 23 341

2023 -0.1 0.3 26 334

2024 -0.1 0.3 29 327

2025 -0.1 0.3 32 319

2026 -0.2 0.3 34 310

2027 -0.2 0.3 36 301

2028 -0.2 0.3 38 291

2029 -0.2 0.3 40 281

2030 -0.2 0.4 33 270

2031 -0.2 0.4 34 262

2032 -0.2 0.4 35 253

2033 -0.2 0.4 37 245

2034 -0.3 0.4 37 236

2035 -0.3 0.4 38 227

2036 -0.3 0.4 39 219

2037 -0.3 0.4 40 211

2038 -0.3 0.4 40 202

2039 -0.3 0.4 41 194

2040 -0.3 0.6 34 187

2041 -0.3 0.6 34 182

2042 -0.3 0.6 34 178

2043 -0.3 0.6 34 174

2044 -0.3 0.6 35 170

2045 -0.3 0.6 35 167

2046 -0.3 0.6 35 163

2047 -0.3 0.6 35 160

2048 -0.3 0.6 35 157

2049 -0.3 0.6 35 154

2050 -0.3 0.6 35 151

2051 -0.3 0.6 35 148

2052 -0.3 0.6 35 146

2053 -0.3 0.6 36 143

2054 -0.3 0.6 36 140

2055 -0.3 0.6 36 137

2056 -0.3 0.6 36 134

2057 -0.3 0.6 36 130

2058 -0.3 0.6 36 127

2059 -0.3 0.6 36 123

2060 -0.3 0.8 28 120

2061 -0.3 0.8 28 120

2062 -0.3 0.8 28 121

2063 -0.3 0.8 28 122

2064 -0.3 0.8 29 122

2065 -0.3 0.8 29 123

2066 -0.3 0.8 29 124

2067 -0.3 0.8 30 124

2068 -0.4 0.8 30 124

2069 -0.4 0.8 31 125

2070 -0.4 0.8 31 125

2071 -0.4 0.8 32 125

2072 -0.4 0.8 33 125

2073 -0.4 0.8 33 125

2074 -0.4 0.8 34 126

2075 -0.4 0.8 34 126

2076 -0.5 0.8 35 126

2077 -0.5 0.8 36 127

2078 -0.5 0.8 37 128

2079 -0.5 0.8 38 129

2080 -0.5 0.8 38 130

2081 -0.5 0.8 39 131

2082 -0.6 0.8 40 132

2083 -0.6 0.8 41 133

2084 -0.6 0.8 42 135

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

The Trust Fund Ratio is the Trust Fund assets at the beginning of the year divided by the cost during the year

Change as Percent of GDP in --

January 13, 2010
Table 4f - Proposal Change in Cost and Tax Income: As Percent of GDP

NAS Proposal: Option 4 -- Payroll Tax Increases Only

Calendar Tax Percent Proposal

Year Cost Income from Cost Trust Fund Ratio1

2010 0.0 0.0 360

2011 0.0 0.0 366

2012 0.0 0.2 1 369

2013 0.0 0.3 1 372

2014 0.0 0.3 1 374

2015 0.0 0.3 0 375

2016 0.0 0.3 0 375

2017 0.0 0.3 0 374

2018 0.0 0.3 0 370

2019 0.0 0.3 0 365

2020 0.0 0.4 1 359

2021 0.0 0.4 1 352

2022 0.0 0.4 1 345

2023 0.0 0.4 1 337

2024 0.0 0.4 1 328

2025 0.0 0.6 1 319

2026 0.0 0.6 1 311

2027 0.0 0.6 1 303

2028 0.0 0.6 1 295

2029 0.0 0.6 1 286

2030 0.0 0.6 1 277

2031 0.0 0.6 1 267

2032 0.0 0.6 1 258

2033 0.0 0.6 1 248

2034 0.0 0.6 1 239

2035 0.0 0.6 1 229

2036 0.0 0.6 1 220

2037 0.0 0.6 1 211

2038 0.0 0.6 1 202

2039 0.0 0.6 1 193

2040 0.0 0.8 1 184

2041 0.0 0.8 1 178

2042 0.0 0.8 1 172

2043 0.0 0.8 1 167

2044 0.0 0.8 1 162

2045 0.0 0.8 1 157

2046 0.0 0.8 1 152

2047 0.0 0.8 2 147

2048 0.0 0.8 2 143

2049 0.0 0.8 2 139

2050 0.0 0.8 2 135

2051 0.0 0.8 2 131

2052 0.0 0.8 2 128

2053 0.0 0.8 2 124

2054 0.0 0.8 2 121

2055 0.0 0.8 2 117

2056 0.0 0.8 2 113

2057 0.0 0.8 2 109

2058 0.0 0.8 2 105

2059 0.0 0.8 2 101

2060 0.0 1.1 2 96

2061 0.0 1.1 2 96

2062 0.0 1.1 2 97

2063 0.0 1.1 2 97

2064 0.0 1.1 2 97

2065 0.0 1.1 2 97

2066 0.0 1.1 2 96

2067 0.0 1.1 2 96

2068 0.0 1.1 2 95

2069 0.0 1.1 2 94

2070 0.0 1.3 2 93

2071 0.0 1.3 2 94

2072 0.0 1.3 2 96

2073 0.0 1.3 2 97

2074 0.0 1.3 2 98

2075 0.0 1.3 2 99

2076 0.0 1.3 2 99

2077 0.0 1.3 2 100

2078 0.0 1.3 2 100

2079 0.0 1.3 2 100

2080 0.0 1.3 2 99

2081 0.0 1.3 2 100

2082 0.0 1.3 2 100

2083 0.0 1.3 2 100

2084 0.0 1.3 2 100

Based on Intermediate Assumptions of the 2009 Trustees Report. Office of the Chief Actuary

Social Security Administration 1

The Trust Fund Ratio is the Trust Fund assets at the beginning of the year divided by the cost during the year

Change as Percent of GDP in --

January 13, 2010