| CalendarYear                                                                                                                                                                                                                                                                                   | Scheduled 1Total OASDIBenefits underPresent Law                            |   | Present LawOASDI BenefitsExpected tobe Payable 2 | Expected Benefits Payableunder DeMint Proposal 3 |   | Expected Payments As Percent ofScheduled Present Law OASDI Benefits |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------|--------|--------------------------------------------------|--------------------------------------------------|--------|---------------------------------------------------------------------|
||
||
||
| 2003                                                                                                                                                                                                                                                                                           | 471                                                                        |   | 471                                              | 471                                              | 471    |                                                                | 100 | 100 | 100 |
| 2004                                                                                                                                                                                                                                                                                           | 480                                                                        |   | 480                                              | 480                                              | 480    |                                                                | 100 | 100 | 100 |
| 2005                                                                                                                                                                                                                                                                                           | 489                                                                        |   | 489                                              | 489                                              | 489    |                                                                | 100 | 100 | 100 |
| 2006                                                                                                                                                                                                                                                                                           | 499                                                                        |   | 499                                              | 499                                              | 499    |                                                                | 100 | 100 | 100 |
| 2007                                                                                                                                                                                                                                                                                           | 511                                                                        |   | 511                                              | 511                                              | 511    |                                                                | 100 | 100 | 100 |
| 2008                                                                                                                                                                                                                                                                                           | 526                                                                        |   | 526                                              | 526                                              | 526    |                                                                | 100 | 100 | 100 |
| 2009                                                                                                                                                                                                                                                                                           | 543                                                                        |   | 543                                              | 543                                              | 543    |                                                                | 100 | 100 | 100 |
| 2010                                                                                                                                                                                                                                                                                           | 561                                                                        |   | 561                                              | 561                                              | 561    |                                                                | 100 | 100 | 100 |
| 2011                                                                                                                                                                                                                                                                                           | 580                                                                        |   | 580                                              | 580                                              | 580    |                                                                | 100 | 100 | 100 |
| 2012                                                                                                                                                                                                                                                                                           | 601                                                                        |   | 601                                              | 599                                              | 601    |                                                                | 100 | 100 | 100 |
| 2013                                                                                                                                                                                                                                                                                           | 625                                                                        |   | 625                                              | 620                                              | 625    |                                                                | 100 | 99 | 100 |
| 2014                                                                                                                                                                                                                                                                                           | 650                                                                        |   | 650                                              | 641                                              | 650    |                                                                | 100 | 99 | 100 |
| 2015                                                                                                                                                                                                                                                                                           | 676                                                                        |   | 676                                              | 664                                              | 677    |                                                                | 100 | 98 | 100 |
| 2016                                                                                                                                                                                                                                                                                           | 704                                                                        |   | 704                                              | 688                                              | 705    |                                                                | 100 | 98 | 100 |
| 2017                                                                                                                                                                                                                                                                                           | 734                                                                        |   | 734                                              | 713                                              | 736    |                                                                | 100 | 97 | 100 |
| 2018                                                                                                                                                                                                                                                                                           | 766                                                                        |   | 766                                              | 738                                              | 768    |                                                                | 100 | 96 | 100 |
| 2019                                                                                                                                                                                                                                                                                           | 798                                                                        |   | 798                                              | 764                                              | 800    |                                                                | 100 | 96 | 100 |
| 2020                                                                                                                                                                                                                                                                                           | 832                                                                        |   | 832                                              | 790                                              | 834    |                                                                | 100 | 95 | 100 |
| 2021                                                                                                                                                                                                                                                                                           | 867                                                                        |   | 867                                              | 817                                              | 870    |                                                                | 100 | 94 | 100 |
| 2022                                                                                                                                                                                                                                                                                           | 902                                                                        |   | 902                                              | 843                                              | 905    |                                                                | 100 | 93 | 100 |
| 2023                                                                                                                                                                                                                                                                                           | 935                                                                        |   | 935                                              | 866                                              | 939    |                                                                | 100 | 93 | 100 |
| 2024                                                                                                                                                                                                                                                                                           | 969                                                                        |   | 969                                              | 888                                              | 973    |                                                                | 100 | 92 | 100 |
| 2025                                                                                                                                                                                                                                                                                           | 1,002                                                                      |   | 1,002                                            | 910                                              | 1,007  |                                                                | 100 | 91 | 100 |
| 2026                                                                                                                                                                                                                                                                                           | 1,035                                                                      |   | 1,035                                            | 929                                              | 1,040  |                                                                | 100 | 90 | 101 |
| 2027                                                                                                                                                                                                                                                                                           | 1,068                                                                      |   | 1,068                                            | 948                                              | 1,075  |                                                                | 100 | 89 | 101 |
| 2028                                                                                                                                                                                                                                                                                           | 1,100                                                                      |   | 1,100                                            | 965                                              | 1,108  |                                                                | 100 | 88 | 101 |
| 2029                                                                                                                                                                                                                                                                                           | 1,132                                                                      |   | 1,132                                            | 980                                              | 1,141  |                                                                | 100 | 87 | 101 |
| 2030                                                                                                                                                                                                                                                                                           | 1,162                                                                      |   | 1,162                                            | 993                                              | 1,173  |                                                                | 100 | 85 | 101 |
| 2031                                                                                                                                                                                                                                                                                           | 1,192                                                                      |   | 1,192                                            | 1,003                                            | 1,204  |                                                                | 100 | 84 | 101 |
| 2032                                                                                                                                                                                                                                                                                           | 1,220                                                                      |   | 1,220                                            | 1,010                                            | 1,235  |                                                                | 100 | 83 | 101 |
| 2033                                                                                                                                                                                                                                                                                           | 1,247                                                                      |   | 1,247                                            | 1,015                                            | 1,264  |                                                                | 100 | 81 | 101 |
| 2034                                                                                                                                                                                                                                                                                           | 1,273                                                                      |   | 1,273                                            | 1,018                                            | 1,292  |                                                                | 100 | 80 | 101 |
| 2035                                                                                                                                                                                                                                                                                           | 1,298                                                                      |   | 1,298                                            | 1,019                                            | 1,321  |                                                                | 100 | 79 | 102 |
| 2036                                                                                                                                                                                                                                                                                           | 1,322                                                                      |   | 1,322                                            | 1,019                                            | 1,350  |                                                                | 100 | 77 | 102 |
| 2037                                                                                                                                                                                                                                                                                           | 1,346                                                                      |   | 1,346                                            | 1,016                                            | 1,379  |                                                                | 100 | 75 | 102 |
| 2038                                                                                                                                                                                                                                                                                           | 1,368                                                                      |   | 1,368                                            | 1,011                                            | 1,408  |                                                                | 100 | 74 | 103 |
| 2039                                                                                                                                                                                                                                                                                           | 1,390                                                                      |   | 1,390                                            | 1,004                                            | 1,436  |                                                                | 100 | 72 | 103 |
| 2040                                                                                                                                                                                                                                                                                           | 1,412                                                                      |   | 1,412                                            | 995                                              | 1,465  |                                                                | 100 | 70 | 104 |
| 2041                                                                                                                                                                                                                                                                                           | 1,433                                                                      |   | 1,433                                            | 985                                              | 1,495  |                                                                | 100 | 69 | 104 |
| 2042                                                                                                                                                                                                                                                                                           | 1,456                                                                      |   | 1,371                                            | 973                                              | 1,527  |                                                                | 94 | 67 | 105 |
| 2043                                                                                                                                                                                                                                                                                           | 1,478                                                                      |   | 1,078                                            | 961                                              | 1,559  |                                                                | 73 | 65 | 105 |
| 2044                                                                                                                                                                                                                                                                                           | 1,501                                                                      |   | 1,093                                            | 948                                              | 1,593  |                                                                | 73 | 63 | 106 |
| 2045                                                                                                                                                                                                                                                                                           | 1,525                                                                      |   | 1,108                                            | 935                                              | 1,631  |                                                                | 73 | 61 | 107 |
| 2046                                                                                                                                                                                                                                                                                           | 1,550                                                                      |   | 1,124                                            | 924                                              | 1,671  |                                                                | 72 | 60 | 108 |
| 2047                                                                                                                                                                                                                                                                                           | 1,575                                                                      |   | 1,139                                            | 912                                              | 1,713  |                                                                | 72 | 58 | 109 |
| 2048                                                                                                                                                                                                                                                                                           | 1,601                                                                      |   | 1,154                                            | 899                                              | 1,756  |                                                                | 72 | 56 | 110 |
| 2049                                                                                                                                                                                                                                                                                           | 1,628                                                                      |   | 1,170                                            | 882                                              | 1,804  |                                                                | 72 | 54 | 111 |
| 2050                                                                                                                                                                                                                                                                                           | 1,655                                                                      |   | 1,185                                            | 866                                              | 1,853  |                                                                | 72 | 52 | 112 |
| 2051                                                                                                                                                                                                                                                                                           | 1,684                                                                      |   | 1,201                                            | 853                                              | 1,905  |                                                                | 71 | 51 | 113 |
| 2052                                                                                                                                                                                                                                                                                           | 1,713                                                                      |   | 1,217                                            | 841                                              | 1,960  |                                                                | 71 | 49 | 114 |
| 2053                                                                                                                                                                                                                                                                                           | 1,743                                                                      |   | 1,233                                            | 838                                              | 2,014  |                                                                | 71 | 48 | 116 |
| 2054                                                                                                                                                                                                                                                                                           | 1,774                                                                      |   | 1,250                                            | 836                                              | 2,069  |                                                                | 70 | 47 | 117 |
| 2055                                                                                                                                                                                                                                                                                           | 1,804                                                                      |   | 1,266                                            | 830                                              | 2,121  |                                                                | 70 | 46 | 118 |
| 2056                                                                                                                                                                                                                                                                                           | 1,836                                                                      |   | 1,283                                            | 825                                              | 2,174  |                                                                | 70 | 45 | 118 |
| 2057                                                                                                                                                                                                                                                                                           | 1,867                                                                      |   | 1,300                                            | 821                                              | 2,228  |                                                                | 70 | 44 | 119 |
| 2058                                                                                                                                                                                                                                                                                           | 1,898                                                                      |   | 1,318                                            | 818                                              | 2,282  |                                                                | 69 | 43 | 120 |
| 2059                                                                                                                                                                                                                                                                                           | 1,929                                                                      |   | 1,335                                            | 815                                              | 2,337  |                                                                | 69 | 42 | 121 |
| 2060                                                                                                                                                                                                                                                                                           | 1,961                                                                      |   | 1,353                                            | 814                                              | 2,392  |                                                                | 69 | 42 | 122 |
| 2061                                                                                                                                                                                                                                                                                           | 1,992                                                                      |   | 1,371                                            | 813                                              | 2,449  |                                                                | 69 | 41 | 123 |
| 2062                                                                                                                                                                                                                                                                                           | 2,024                                                                      |   | 1,390                                            | 815                                              | 2,506  |                                                                | 69 | 40 | 124 |
| 2063                                                                                                                                                                                                                                                                                           | 2,057                                                                      |   | 1,408                                            | 818                                              | 2,565  |                                                                | 68 | 40 | 125 |
| 2064                                                                                                                                                                                                                                                                                           | 2,090                                                                      |   | 1,427                                            | 823                                              | 2,625  |                                                                | 68 | 39 | 126 |
| 2065                                                                                                                                                                                                                                                                                           | 2,124                                                                      |   | 1,446                                            | 822                                              | 2,677  |                                                                | 68 | 39 | 126 |
| 2066                                                                                                                                                                                                                                                                                           | 2,158                                                                      |   | 1,465                                            | 822                                              | 2,730  |                                                                | 68 | 38 | 127 |
| 2067                                                                                                                                                                                                                                                                                           | 2,193                                                                      |   | 1,484                                            | 824                                              | 2,784  |                                                                | 68 | 38 | 127 |
| 2068                                                                                                                                                                                                                                                                                           | 2,229                                                                      |   | 1,503                                            | 827                                              | 2,838  |                                                                | 67 | 37 | 127 |
| 2069                                                                                                                                                                                                                                                                                           | 2,266                                                                      |   | 1,523                                            | 832                                              | 2,893  |                                                                | 67 | 37 | 128 |
| 2070                                                                                                                                                                                                                                                                                           | 2,303                                                                      |   | 1,543                                            | 839                                              | 2,948  |                                                                | 67 | 36 | 128 |
| 2071                                                                                                                                                                                                                                                                                           | 2,340                                                                      |   | 1,563                                            | 847                                              | 3,003  |                                                                | 67 | 36 | 128 |
| 2072                                                                                                                                                                                                                                                                                           | 2,378                                                                      |   | 1,583                                            | 856                                              | 3,059  |                                                                | 67 | 36 | 129 |
| 2073                                                                                                                                                                                                                                                                                           | 2,417                                                                      |   | 1,603                                            | 867                                              | 3,115  |                                                                | 66 | 36 | 129 |
| 2074                                                                                                                                                                                                                                                                                           | 2,456                                                                      |   | 1,624                                            | 880                                              | 3,171  |                                                                | 66 | 36 | 129 |
| 2075                                                                                                                                                                                                                                                                                           | 2,495                                                                      |   | 1,645                                            | 894                                              | 3,227  |                                                                | 66 | 36 | 129 |
| 2076                                                                                                                                                                                                                                                                                           | 2,535                                                                      |   | 1,666                                            | 909                                              | 3,284  |                                                                | 66 | 36 | 130 |
| 2077                                                                                                                                                                                                                                                                                           | 2,576                                                                      |   | 1,687                                            | 925                                              | 3,341  |                                                                | 65 | 36 | 130 |
| 2078                                                                                                                                                                                                                                                                                           | 2,616                                                                      |   | 1,709                                            | 942                                              | 3,399  |                                                                | 65 | 36 | 130 |
| 1 Based on benefit formulas in the law, without regard to adequacy of financing.2 Assuming that benefits would be reduced as needed starting in 2042.3 Amount from Trust funds is net of benefit offset under the proposal.4 IA annuity includes value of lump-sum distribution at retirement. |
|                                                                                                                                                                                                                                                                                           | Office of the Chief ActuarySocial Security AdministrationSeptember 9, 2003 |

Return to memorandumReturn to list of memos