Cost Rate

Income 

Rate

Annual 

Balance Cost Rate

Income 

Rate

Annual 

Balance

14.53 13.29 -1.24 204 0.00 0.00 0.00

14.87 12.89 -1.98 187 0.00 0.00 0.00

15.04 12.97 -2.07 168 0.00 0.00 0.00

15.23 13.08 -2.15 149 0.00 0.00 -0.00

15.38 13.09 -2.29 131 0.00 0.00 -0.00

15.55 13.13 -2.42 114 0.00 0.00 -0.00

15.72 13.16 -2.56 96 0.00 0.00 -0.00

15.87 13.19 -2.69 78 0.00 0.00 -0.00

16.01 13.21 -2.80 60 0.01 0.00 -0.01

16.16 13.24 -2.93 43 0.02 0.00 -0.02

16.30 13.25 -3.05 25 0.03 0.00 -0.03

16.43 13.26 -3.17 6 0.04 0.00 -0.04

16.53 13.27 -3.27 ---- 0.06 0.00 -0.06

16.63 13.28 -3.35 ---- 0.07 0.00 -0.07

16.72 13.29 -3.43 ---- 0.08 0.00 -0.08

16.79 13.29 -3.50 ---- 0.10 0.00 -0.09

16.86 13.30 -3.56 ---- 0.11 0.00 -0.10

16.90 13.30 -3.60 ---- 0.12 0.00 -0.12

16.94 13.30 -3.63 ---- 0.13 0.01 -0.13

16.96 13.31 -3.66 ---- 0.15 0.01 -0.14

16.99 13.31 -3.68 ---- 0.16 0.01 -0.15

17.02 13.31 -3.70 ---- 0.17 0.01 -0.16

17.04 13.32 -3.73 ---- 0.18 0.01 -0.18

17.08 13.32 -3.76 ---- 0.19 0.01 -0.19

17.11 13.32 -3.79 ---- 0.21 0.01 -0.20

17.14 13.32 -3.82 ---- 0.22 0.01 -0.21

17.18 13.33 -3.86 ---- 0.23 0.01 -0.22

17.23 13.33 -3.89 ---- 0.24 0.01 -0.23

17.27 13.34 -3.93 ---- 0.25 0.01 -0.24

17.32 13.34 -3.98 ---- 0.26 0.01 -0.25

17.38 13.34 -4.03 ---- 0.27 0.01 -0.26

17.44 13.35 -4.10 ---- 0.28 0.01 -0.27

17.52 13.36 -4.16 ---- 0.29 0.01 -0.28

17.60 13.36 -4.24 ---- 0.30 0.01 -0.28

17.68 13.37 -4.32 ---- 0.31 0.01 -0.29

17.77 13.38 -4.40 ---- 0.31 0.01 -0.30

17.86 13.38 -4.48 ---- 0.32 0.02 -0.31

17.95 13.39 -4.56 ---- 0.33 0.02 -0.31

18.03 13.40 -4.63 ---- 0.33 0.02 -0.32

18.10 13.40 -4.70 ---- 0.34 0.02 -0.32

18.17 13.41 -4.76 ---- 0.35 0.02 -0.33

18.24 13.41 -4.82 ---- 0.35 0.02 -0.33

18.30 13.42 -4.88 ---- 0.35 0.02 -0.34

18.36 13.42 -4.94 ---- 0.36 0.02 -0.34

18.42 13.43 -4.99 ---- 0.36 0.02 -0.34

18.48 13.43 -5.05 ---- 0.37 0.02 -0.35

18.54 13.44 -5.11 ---- 0.37 0.02 -0.35

18.60 13.44 -5.16 ---- 0.37 0.02 -0.35

18.66 13.45 -5.21 ---- 0.37 0.02 -0.36

18.71 13.45 -5.26 ---- 0.38 0.02 -0.36

18.76 13.45 -5.31 ---- 0.38 0.02 -0.36

18.81 13.46 -5.35 ---- 0.38 0.02 -0.36

18.85 13.46 -5.38 ---- 0.38 0.02 -0.36

18.87 13.46 -5.41 ---- 0.38 0.02 -0.36

18.89 13.47 -5.42 ---- 0.38 0.02 -0.36

18.89 13.47 -5.42 ---- 0.38 0.02 -0.37

18.88 13.47 -5.41 ---- 0.39 0.02 -0.37

18.85 13.47 -5.39 ---- 0.39 0.02 -0.37

18.82 13.46 -5.35 ---- 0.39 0.02 -0.37

18.78 13.46 -5.32 ---- 0.39 0.02 -0.37

18.73 13.46 -5.27 ---- 0.38 0.02 -0.37

18.67 13.46 -5.22 ---- 0.38 0.02 -0.36

18.61 13.45 -5.16 ---- 0.38 0.02 -0.36

18.54 13.45 -5.09 ---- 0.38 0.02 -0.36

18.47 13.44 -5.03 ---- 0.38 0.02 -0.36

18.40 13.44 -4.96 ---- 0.38 0.02 -0.36

18.33 13.44 -4.90 ---- 0.38 0.02 -0.36

18.27 13.43 -4.84 ---- 0.38 0.02 -0.36

18.22 13.43 -4.79 ---- 0.38 0.02 -0.36

18.18 13.43 -4.75 ---- 0.38 0.02 -0.36

18.15 13.42 -4.72 ---- 0.38 0.02 -0.36

18.13 13.42 -4.71 ---- 0.38 0.02 -0.36

18.12 13.42 -4.70 ---- 0.38 0.02 -0.36

18.12 13.42 -4.70 ---- 0.38 0.02 -0.36

18.13 13.42 -4.71 ---- 0.38 0.02 -0.36

18.15 13.43 -4.72 ---- 0.38 0.02 -0.36

Cost Rate Income Rate

Actuarial 

Balance Cost Rate Income Rate

Actuarial 

Balance

17.62% 13.79% -3.84% 2034 0.24% 0.01% -0.23%

1

Office of the Chief Actuary

Social Security Administration

September 15, 2023

Year of reserve 

depletion1

Summarized Estimates: Change from Current Law

2023

-2097

Under current law, the year of Trust Fund reserve depletion is 2034.

Estimates based on Intermediate Assumptions of the 2023 Trustees Report

Summarized Estimates: Proposal

2095

2096

2097

2098

2094

2083

2084

2085

2086

2087

2088

2089

2090

2091

2092

2093

2082

2071

2072

2073

2074

2075

2076

2077

2078

2079

2080

2081

2070

2059

2060

2061

2062

2063

2064

2065

2066

2067

2068

2069

2058

2047

2048

2049

2050

2051

2052

2053

2054

2055

2056

2057

2046

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2034

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

Detailed Single Year Tables

Category of Change: Level of Monthly Benefits

Proposal Change from Current Law

Proposed Provision: B5.9. Beginning for those newly eligible in 2025, reconfigure the special minimum benefit: (a) A 

year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 

40 years of coverage equal to 125 percent of the monthly Aged Federal poverty level (about $1,462 in 2022). For those 

with 20 or fewer years of coverage, phase up linearly from 0 percent of the poverty level for 10 years of coverage to 100 

percent of the poverty level. For those having between 20 and 40 years of coverage, phase up linearly from 100 percent 

of the poverty level at 20 years of coverage to 125% of the poverty level for 40 or more years of coverage. (c) For newly 

eligible workers in 2025 and 2026, index the applicable poverty level using the CPI index, to the year prior to eligibility. 

Then, for newly eligible workers in 2027 and later, index the PIA per year of coverage by wage growth for successive 

cohorts. (d) Disabled workers have a somewhat similar minimum benefit, with work requirements scaled based on the 

number of years of non-disabled potential work.

Expressed as a percentage of

current-law taxable payroll Trust Fund 

Ratio 

1-1-year

Expressed as a percentage of

current-law taxable payroll

Year