SOCIAL SECURITY ADMINISTRATION BALTIMORE, MD 21235-0001

SOCIAL SECURITY

Office of the Chief Actuary

June 8, 2017

The Honorable Al Lawson

United States House of Representatives

Washington, D.C. 20515

Dear Representative Lawson:

I am writing in response to your request for estimates of the financial effects on Social Security 

of H.R. 2855, the Social Security for Future Generations Act of 2017, which you introduced 

today. The estimates provided here reflect the intermediate assumptions of the 2016 Trustees 

Report. This Bill (hereafter referred to as the proposal) includes six provisions with direct effects 

on the Social Security Trust Funds. We have enjoyed working closely with Adam LaRose of 

your staff in developing this proposal to meet your goals. The estimates and analysis provided 

here reflect the combined effort of many in the Office of the Chief Actuary, but most particularly 

Karen Glenn, Christopher Chaplain, Daniel Nickerson, Kyle Burkhalter, Michael Clingman, 

Anna Kirjusina, and Tiffany Bosley.

The enclosed tables provide estimates of the effects of the six provisions on the cost, income, and 

combined trust fund reserves for the Old Age, Survivors, and Disability Insurance (OASDI)

program, as well as estimated effects on retired worker benefit levels for selected hypothetical 

workers and effects on payroll tax levels. In addition, tables 1b and 1b.n provide estimates of the 

federal budget implications of these six provisions with direct effects on the OASDI program.

Assuming enactment of the proposal, the projected trust fund reserve depletion year for the 

theoretical combined OASI and DI Trust Funds would be extended to 2049. Under current law, 

the projected trust fund reserve depletion year for the combined trust funds is 2034. 

The proposal includes six provisions (Sections 2 through 7of the Bill) with direct effects on the 

OASDI program. The following list briefly describes these provisions:

Section 2 and Section 3. Apply the combined OASDI payroll tax rate on covered earnings 

above $250,000 paid in 2018 and later. Tax all covered earnings once the current-law taxable 

maximum exceeds $250,000. Credit the additional earnings that are taxed for benefit purposes 

by: (a) calculating a second average indexed monthly earnings (“AIME+”) reflecting only 

additional earnings taxed above the current-law taxable maximum, (b) applying a 2-percent 

factor on this newly computed “AIME+” to develop a second component of the PIA, and (c) 

adding this second PIA component to the current-law PIA.
Page 2 – The Honorable Al Lawson

Section 4. Use the Consumer Price Index for the Elderly (CPI-E) increase rather than the 

Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increase to 

calculate the cost-of-living adjustment (COLA), effective for December 2019 and later 

COLAs. We assume this change would increase the COLA by an average of 0.2 percentage 

point per year.

Section 5. Beginning in 2018, extend student benefits up to attainment of age 23 for children 

of disabled, retired or deceased workers, if the child is a full-time student in high school or 

below, college, or vocational school. 

Section 6. Increase the special minimum PIA, beginning for workers who become newly 

eligible for retirement or disability benefits or die in 2018 or later. For workers becoming 

newly eligible or dying in 2018, the minimum initial PIA for workers with 30 or more years 

of coverage (YOCs) is 125 percent of the annual poverty guideline for a single individual 

published by the Department of Health and Human Services for 2017, divided by 12. For 

workers becoming newly eligible or dying after 2018, the minimum initial PIA is increased by 

the growth in the national average wage index (AWI).

Section 7. Establish an alternative benefit for surviving spouses. The alternative benefit 

would equal 75 percent of the sum of the survivor’s own worker benefit and the deceased 

worker’s PIA (including any actuarial reductions or delayed retirement credits (DRC)). If the 

deceased worker died before becoming entitled, use the age 62 actuarial reduction if deceased 

before age 62, or the applicable actuarial reduction/DRC for entitlement at the age of death if 

deceased after 62. An upper limit is applied for the alternative benefit amount.

The balance of this letter provides a summary of the effects of the six provisions on the actuarial 

status of the OASDI program, our understanding of the specifications and intent of each of the 

six provisions, and descriptions of our detailed financial estimates for trust fund operations, 

benefit levels, and implications for the federal budget. See the “Specification for Provisions of 

the Proposal” section of this letter for a more detailed description of these six provisions.

Summary of Effects of the Proposal on OASDI Actuarial Status

Figure 1 illustrates the projected OASDI Trust Fund ratio through 2090 under current law and 

assuming enactment of the proposal. The trust fund ratio is defined as the combined Social 

Security Trust Fund reserves at the beginning of a year expressed as a percent of annual program 

cost for that year. Assuming enactment of the proposal, the combined Social Security Trust Fund 

reserves would deplete in 2049, 15 years later than the projected reserve depletion date under 

current law. 
Page 3 – The Honorable Al Lawson

Note: Trust Fund Ratio for a given year is the ratio of reserves in the combined Social Security Trust Fund at the 

beginning of the year to the cost of the program for the year.

Under current law, 79 percent of scheduled benefits are projected to be payable on a timely basis 

in 2034 after depletion of the combined trust fund reserves, with the percentage payable 

declining to 74 percent for 2090. Under the proposal, the OASDI program would be able to pay 

100 percent of scheduled benefits through 2048, 90 percent in 2049 after combined trust fund 

reserve depletion, with the percentage declining to 83 percent for 2090. 

Enactment of the six provisions of this proposal would change the long-range OASDI actuarial 

deficit from 2.66 percent of taxable payroll under current law to 1.25 percent of payroll under the 

proposal.

Figure 2 illustrates annual projected levels of cost, expenditures, and non-interest income as a 

percent of the current-law taxable payroll. The projected level of cost reflects the full cost of 

scheduled benefits under both current law and the proposal. Under the proposal, projected 

expenditures equal the full cost of scheduled benefits until combined trust fund reserve depletion 

in 2049. 

0

50

100

150

200

250

300

350

400

2016 2020 2030 2040 2050 2060 2070 2080 2090

Trust Fund Ratio

Figure 1. Current Law and Proposal OASDI Trust Fund Reserves as Percent of 

Annual Cost: 2016 TR Intermediate Assumptions

Present Law Trust Fund Ratio

Proposal
Page 4 – The Honorable Al Lawson

OASDI program annual cost under the proposal is higher than under current law, starting in 

2018. This difference between proposal and current-law cost increases from 0.2 percent of 

current-law taxable payroll for 2018 to 0.8 percent of current-law payroll for 2040, and thereafter 

increases, reaching 1.0 percent of current-law payroll for 2090. Beginning in 2018, non-interest 

income under the proposal is projected to be higher than under current law. This difference 

between proposal and current-law income increases from 1.4 percent of current-law taxable 

payroll for 2018 to 2.3 percent of current-law payroll for 2034, and thereafter increases more 

gradually, reaching 2.4 percent of current-law payroll for 2090. For 2018 and later, the proposal 

improves the annual balance (non-interest income minus program cost).

It is also useful to consider the projected cost, expenditures, and income for the OASDI program 

expressed as a percentage of Gross Domestic Product (GDP). Figure 3 illustrates these levels 

under both current law and the proposal.

11

12

13

14

15

16

17

18

19

2016 2020 2030 2040 2050 2060 2070 2080 2090

Percent of Current-Law Taxable Payroll

Figure 2. Proposal and Current-Law Cost, Expenditures, and Non-Interest Income 

as Percent of Taxable Payroll: 2016 TR Intermediate Assumptions

Current Law Cost

Current Law Non-Interest Income

Current Law Expenditures

Proposal Cost

Proposal Non-Interest Income

Proposal Expenditures
Page 5 – The Honorable Al Lawson

Specification for Provisions of the Proposal

Section 2 and Section 3. Apply the combined OASDI payroll tax rate on covered earnings 

above $250,000 paid in 2018 and later.

These provisions apply the OASDI payroll tax rate to covered earnings above $250,000 paid in 

2018 and later. The $250,000 level is a fixed amount after 2018 and is not indexed to price 

inflation or average wage increase. All covered earnings would be taxed once the current-law 

taxable maximum exceeds $250,000, which is projected to occur in 2035. Any covered earnings 

above the higher of $250,000 or the current-law taxable maximum in a given year would be 

counted as “excess wages” and would be credited for benefit purposes by:

a. Calculating a second average indexed monthly earnings (“AIME+”) reflecting only 

additional earnings taxed above the current-law maximum,

b. Applying a 2-percent PIA factor to this newly computed “AIME+” to develop a second 

component of the PIA, and

c. Adding this second PIA component to the current-law PIA.

4.0

4.5

5.0

5.5

6.0

6.5

2016 2020 2030 2040 2050 2060 2070 2080 2090

Percent of GDP

Figure 3. Proposal and Current-Law Cost, Expenditures, and Non-Interest Income 

as Percent of GDP: 2016 TR Intermediate Assumptions

Current Law Cost

Current Law Non-Interest Income

Current Law Expenditures

Proposal Cost

Proposal Non-Interest Income

Proposal Expenditures
Page 6 – The Honorable Al Lawson

We estimate that enactment of these two provisions alone would reduce the long-range OASDI 

actuarial deficit by 2.11 percent of taxable payroll and would reduce the annual deficit for the 

75th projection year (2090) by 2.33 percent of payroll.

Section 4. Use the CPI-E increase rather than the CPI-W increase to calculate the COLA, 

effective for December 2019 and later COLAs.

Under current law, the annual cost-of-living adjustment (COLA) applied to Social Security 

benefits is calculated using the Consumer Price Index for Urban Wage Earners and Clerical 

Workers (CPI-W). We estimate that using the Consumer Price Index for the Elderly (CPI-E)

increase rather than the CPI-W increase in each year beginning with the December 2019 COLA 

would increase the effective COLA by 0.2 percentage points per year on average.

We estimate that enactment of this provision alone would increase the long-range OASDI 

actuarial deficit by 0.37 percent of taxable payroll and would increase the annual deficit for the 

75th projection year (2090) by 0.52 percent of payroll.

Section 5. Beginning in 2018, extend student benefits up to attainment of age 23 for children 

of disabled, retired or deceased workers, if the child is a full-time student in high school or 

below, college, or vocational school. 

Under current law, benefits are available to children of retired, disabled, and deceased workers 

who are full-time students at a secondary school or elementary schools, up to attainment of age 

19. This proposed provision would extend eligibility of full-time student benefits (including 

post-secondary students) up to attainment of age 23, starting in 2018. 

We estimate that this provision alone would increase (worsen) the long-range OASDI actuarial 

deficit by 0.07 percent of taxable payroll and would increase the annual deficit for the 75th 

projection year (2090) by 0.07 percent of payroll.

Section 6. Increase the special minimum PIA for workers who become newly eligible for 

retirement or disability benefits or die in 2018 or later.

Under this provision, the minimum initial PIA for workers becoming newly eligible or dying in 

2018 with 30 or more years of coverage (YOCs) would be 125 percent of the annual poverty 

guideline for a single individual published by the Department of Health and Human Services for 

2017, divided by 12. For those with less than 30 YOCs, the minimum PIA per YOC in excess of 

10 YOCs is the minimum PIA for workers with 30 or more YOCs, divided by 20. Any year in 

which a worker earns 4 quarters of coverage is determined to be a YOC. For workers becoming 

newly eligible or dying after 2018, the initial PIA per YOC in excess of 10 YOCs is indexed by 

growth in the national average wage index (AWI) to determine the minimum PIA applicable for 

the year of initial eligibility. After the year of initial eligibility, the minimum benefit is increased 

by the COLA for each cohort. The 30 and 10 YOC thresholds apply for all workers, including 

those who die or become disabled under age 62.
Page 7 – The Honorable Al Lawson

We estimate that enactment of this provision alone would increase the long-range OASDI 

actuarial deficit by 0.13 percent of taxable payroll and would increase the annual deficit for the 

75th projection year (2090) by 0.19 percent of payroll.

Section 7. Establish an alternative benefit for surviving spouses.

Under current law, surviving spouses aged 60 or older are eligible to receive the higher of their 

own worker benefit (as a retiree or a disabled worker) or the benefit amount their deceased 

spouse was eligible to receive, subject to potential reductions for age at benefit entitlement. This 

proposed provision is intended to allow surviving spouses to receive an alternative benefit when 

it is higher than the benefit available under current law. 

The alternative benefit would be computed as 75 percent of the sum of (a) the worker benefit (as 

a retired worker or as a disabled worker) the survivor is eligible to receive, including any 

reductions for age or delayed retirement credits (DRC) and (b) the worker benefit the deceased 

spouse would be eligible to receive if still alive, reflecting any reduction for age at entitlement or 

DRC (or if not entitled at death, then the reduction for age or DRC available for entitlement at 

the date of death or the earliest time thereafter). However, the size of the alternative benefit so 

computed would be limited so as not to exceed the PIA (unreduced for early retirement or 

increased by DRC) for a theoretical retired worker becoming entitled to benefits at age 62 in the 

same year the deceased first became entitled to a benefit (or the year of death if not yet entitled), 

with earnings for each year equal to the SSA national average wage index (AWI). Benefits 

under this provision would be payable for all surviving spouses on the rolls at the beginning of 

2018 and those becoming eligible in 2018 and later. 

We estimate that this provision alone would increase the long-range OASDI actuarial deficit by 

0.12 percent of taxable payroll and would increase the annual deficit for the 75th projection year 

(2090) by 0.12 percent of payroll.

Detailed Financial Results for the Provisions of the Proposal

Summary Results by Provision

Table A provides estimates of the effects on the OASDI long-range actuarial balance of the six 

provisions of the proposal separately and on a combined basis. The table also includes estimates 

of the effect of the provisions on the annual balance (the difference between income rate and the 

cost rate, expressed as a percent of current-law taxable payroll) for the 75th projection year, 2090. 

Interaction among individual provisions is reflected only in the total estimates for the combined 

provisions.

Benefit Illustrations

Tables B1 and B2 provide illustrative examples of the projected change in benefit levels under 

the provisions of the proposal for beneficiaries retiring and starting benefit receipt at age 65 in 

future years at six selected earnings levels, with selected numbers of years of work. The 

“Maximum-AIME Steady Earner” is assumed to have earnings at ages 22 through 64 that equal 
Page 8 – The Honorable Al Lawson

the current-law taxable maximum level (equivalent to $118,500 for 2016) and the “Twice 

Maximum-AIME Steady Earner” is assumed to have earnings at ages 22 through 64 that equal 

twice the current-law taxable maximum level (equivalent to $237,000 for 2016). As a result, the 

provision to tax and credit earnings above the current-law taxable maximum affects only the 

“Twice Maximum-AIME Steady Earner” benefit level. Table B3 provides additional important 

information on characteristics of retired workers represented by these illustrations for the year 

2007.

The first several columns of Table B1 compare the initial scheduled benefit levels, assuming 

retirement at age 65 under the provisions of the proposal, to scheduled current-law benefit levels. 

All scheduled benefit amounts under the proposal are higher than those scheduled in current law, 

especially for the very low and low hypothetical earners with at least 30 years of earnings (due 

largely to the minimum benefit provision). In addition, the twice maximum steady-AIME earner 

receives additional benefits from earnings taxed above the current law taxable maximum under 

the proposal. The final three columns of this table show the level of scheduled benefits under the 

proposal as a percentage of current-law scheduled benefits, the level of scheduled benefits under 

the proposal as a percentage of current-law payable benefits, and the level of payable benefits 

under the proposal as a percentage of current-law payable benefits, respectively.

Table B2 compares the change in scheduled benefit levels at ages 65, 75, 85, and 95 under the 

proposal to scheduled benefits under current law, assuming retirement and start of benefit receipt 

at age 65. Table B2 shows that projected scheduled benefits under the provisions of the proposal 

increase in relation to current-law scheduled benefits between ages 65 and 95, because of the 

change in computing the COLA. 

The hypothetical workers represented in these tables reflect average career-earnings patterns of 

workers who started receiving retirement benefits under the Social Security program in recent 

years. The tables subdivide workers with very low, low, and medium career-average earnings 

levels by their numbers of years of non-zero earnings.

Table B3 provides information helpful in interpreting the benefit illustrations in Tables B1 and 

B2. Percentages in Table B3 are based on tabulations from a 10-percent sample of newly-entitled 

retired workers in 2007. Table B3 displays the percentages of these newly-entitled retired

workers in 2007 that are closest to each of the illustrative examples and are:

1) “Dually Entitled”, meaning they received a higher spouse or widow(er) benefit based on 

the career earnings of their husband or wife,

2) “WEP” (Windfall Elimination Provision), meaning that they received a reduced benefit 

due to having a pension based on earnings that were not covered under the OASDI 

program (primarily certain government workers), and they had less than 30 years of 

substantial earnings that were taxable under the OASDI program,

3) “Foreign Born”, meaning that they entered the Social Security coverage area after birth 

(and generally after entering working ages), and

4) “All Others”, meaning they had none of the three characteristics listed above.

The extent to which retired-worker beneficiaries represented by each of the illustrative examples 

have any of the characteristics listed above (dually entitled, WEP, foreign born) is important 
Page 9 – The Honorable Al Lawson

because such individuals are less dependent on the OASDI benefit that relates to their own 

career-average earnings level. It should be noted that the distributions shown in Table B3 for 

retirees in 2007 will be changing somewhat for beneficiaries becoming entitled as retired-worker 

beneficiaries in the future. 

Payroll Tax Effects

Table T compares the scheduled payroll tax levels under the provisions of the proposal to 

scheduled current-law payroll tax levels. Under the proposal, the 12.4 percent payroll tax would 

apply to annual earnings in excess of $250,000 starting in 2018. As a result, Table T shows that 

the worker with earnings at twice the current-law taxable maximum in 2030 would have payroll 

tax liability increased by 82.3 percent. By 2050, workers with earnings at twice the current-law 

taxable maximum would have payroll tax liability increased by 100 percent.

Detailed Tables Containing Annual and Summary Projections

Enclosed with this letter are tables 1, 1a, 1b, 1b.n, 1c, and 1d, which provide annual and 

summary projections for the proposal.

Trust Fund Operations

Table 1 provides projections of the financial operations of the OASDI program under the 

proposal and shows that the combined Social Security Trust Fund would deplete in 2049 

assuming enactment of this proposal. The table shows the annual cost and income rates, annual 

balances, and trust fund ratios (reserves as percent of annual program cost) for OASDI, as well 

as the change from current law in these cost rates, income rates, and annual balances. Included at 

the bottom of this table are summarized rates for the 75-year (long-range) period.

For 2018 and later, the proposal improves the annual balance (non-interest income minus 

program cost). The improvement in the annual balance increases from 1.2 percent of current-law 

payroll for 2018 to 1.7 percent for 2035, and thereafter declines, reaching 1.4 percent for 2090. 

Under the proposal, the annual balance becomes positive in 2018, then declines and becomes 

negative in 2022. After 2022, the annual deficit increases to 1.8 percent of payroll for 2039, 

declines to 1.6 percent of payroll for 2051, and generally increases thereafter, reaching 2.9 

percent of payroll for 2090. Under current law, the projected annual deficit for 2090 is 4.3 

percent of payroll.

The actuarial balance for the OASDI program over the 75-year projection period is improved by 

1.40 percent of taxable payroll, from an actuarial deficit of 2.66 percent of taxable payroll under 

current law to a deficit of 1.25 percent of taxable payroll under the proposal.

Program Transfers and Trust Fund Reserves

Column 4 of Table 1a provides a projection of the level of reserves for the combined Social 

Security Trust Fund, assuming enactment of the eight Social Security provisions of the proposal. 

These trust fund reserve amounts are expressed in present value dollars discounted to January 1, 

2016. The table indicates that the provisions include no new specified transfers of general 
Page 10 – The Honorable Al Lawson

revenue to the combined Social Security Trust Fund. For purpose of comparison, the OASDI 

Trust Fund reserves, expressed in present value dollars, are also shown for the current-law Social 

Security program both without and with the added proposal general fund transfers (zero in this 

case) in columns 6 and 7.

Note that negative values in columns 6 and 7 represent the “unfunded obligation” for the 

program through the year. The unfunded obligation is the present value of the shortfall of 

revenue needed to pay full scheduled benefits on a timely basis from the date of trust fund 

reserve depletion through the end of the indicated year. Gross Domestic Product (GDP),

expressed in present value dollars, is shown in column 5 for comparison with other values in the 

table.

Effect of the Social Security Provisions on the Federal Budget

Table 1b shows the projected effect, in present value discounted dollars, on the federal budget 

(unified-budget and on-budget) annual cash flows and balances, assuming enactment of the six 

Social Security provisions of the proposal. We note that section 8 of the Bill provides for 

“holding SSI, Medicaid, and CHIP beneficiaries harmless” from potential implications of the 

other sections in the Bill. Our analysis provided in these tables does not reflect the effects on 

these programs under the on-budget operations of the federal government. Table 1b.n provides 

the estimated nominal dollar effect of enactment of the proposal on annual budget balances for 

years 2016 through 2026. All values in these tables represent the amount of change from the 

level projected under current law. In addition, changes reflect the budget scoring convention that 

presumes benefits, not payable under the law after depletion of trust fund reserves, would still be 

paid using revenue provided from the General Fund of the Treasury. The reader should be 

cautioned that this presumption of payment of benefits beyond the resources of the trust funds is 

prohibited under current law and is also inconsistent with all past experience under the Social 

Security program.

Column 1 of Table 1b shows the added proposal general fund transfers (zero for this proposal).

Column 2 shows the net changes in OASDI cash flow from the six provisions of the proposal.

We project the net effect of the proposal on unified budget cash flow (column 3) to be positive in 

years 2018 and later. The payroll tax newly applied to earnings above $250,000 in Sections 2 

and 3 more than offsets benefit increases for the other provisions of the proposal.

Column 4 of Table 1b indicates that the effect of implementing the proposal is a reduction of the 

theoretical federal debt held by the public, reaching about $6.4 trillion in present value at the end 

of the 75-year projection period. Column 5 provides the projected effect of the proposal on the 

annual unified budget balances, including both the cash flow effect in column 3 and the 

additional interest on the accumulated debt in column 4. Columns 6 and 7 indicate that the 

provisions of this proposal would have no expected direct effects on the on-budget cash flow, or 

on the total federal debt, in the future.

It is important to note that we base these estimates on the intermediate assumptions of the 2016 

Trustees Report, so these estimates are not consistent with estimates made by the Office of 

Management and Budget or the Congressional Budget Office based on their assumptions. In 
Page 11 – The Honorable Al Lawson

particular, all present values are discounted using trust fund yield assumptions under the 

intermediate assumptions of the 2016 Trustees Report.

Annual Trust Fund Operations as a Percent of GDP

Table 1c provides annual cost, annual expenditures (amount that would be payable), and annual 

tax income for the OASDI program expressed as a percentage of GDP for both current law and 

assuming enactment of the six Social Security provisions of the proposal. Showing the annual 

trust fund cash flows as a percent of GDP provides an additional perspective on these trust fund 

operations in relation to the total value of goods and services produced in the United States. The 

relationship between income and cost is similar when expressed as a percent of GDP to that 

when expressed as a percent of taxable payroll (Table 1).

Effects on Trust Fund Reserves and Unfunded Obligations

Table 1d provides estimates of the changes in trust fund reserves and unfunded obligations on an

annual basis. Values in this table are expressed in present value dollars discounted to January 1, 

2016.

For the 75-year (long-range) period as a whole, the current-law unfunded obligation of $11.4 

trillion is reduced to $4.9 trillion in present value assuming enactment of the proposal. This 

change of $6.4 trillion results from:

• A $9.9 trillion net increase in revenue (column 2), primarily from additional payroll 

tax, minus

• A $3.4 trillion net increase in cost (column 3), from additional benefits from earnings 

taxed above the current-law taxable maximum, and from the other provisions of the 

proposal (Sections 4 through 7).

We hope these estimates are helpful. Please let me know if we may provide further assistance.

Sincerely,

 Stephen C. Goss, ASA, MAAA

Chief Actuary

Enclosures
Table A—Estimated Long-Range OASDI Financial Effects of H.R. 2855,

the “Social Security for Future Generations Act of 2017” (115

th Congress), 

Introduced by Rep. Lawson

Provision

Estimated Change in

Long-Range OASDI 

Actuarial Balance 1

(as a percent of payroll)

Estimated Change 

in Annual Balance 

for 75th year 2

(as a percent of payroll)

Section 2 and Section 3) Apply the OASDI payroll tax rate on 

covered earnings above $250,000 paid in 2018 and later, and 

tax all covered earnings once the current-law taxable 

maximum exceeds $250,000. Credit the additional earnings 

taxed for benefit purposes by: (a) calculating a second average 

indexed monthly earnings (“AIME+”) reflecting only earnings 

taxed above the current-law taxable maximum, (b) applying a 

2 percent factor on this newly computed “AIME+” to develop 

a second component of the PIA, and (c) adding this second 

PIA component to the current-law PIA ..................................... 2.11 2.33

Section 4) Use the increase in the Consumer Price Index for 

the Elderly (CPI-E) rather than the increase in the Consumer 

Price Index for Urban Wage Earners and Clerical Workers

(CPI-W) to calculate the cost-of-living adjustment (COLA), 

effective for December 2019 and later COLAs. We estimate 

this new computation would increase the annual COLA by 

about 0.2 percentage point, on average ..................................... -0.37 -0.52

Section 5) Beginning in 2018, extend student benefits up to 

attainment of age 23 for children of disabled, retired or 

deceased workers, if the child is a full-time student in high 

school or below, college, or vocational school.......................... -0.07 -0.07

Section 6) Beginning in 2018, reconfigure the special 

minimum PIA for workers who become newly eligible for 

retirement or disability benefits or die, in 2018 or later: (a) A 

year of coverage (YOC) is defined as a year in which 4 

quarters of coverage are earned, (b) For those becoming newly 

eligible or dying in 2018 with 30 or more YOCs, set the initial 

minimum PIA equal to 125 percent of the 2017 Department of 

Health and Human Services (HHS) monthly poverty level. For 

those with under 30 YOCs, the initial PIA per YOC in excess 

of 10 YOCs is 125 percent of the HHS monthly poverty level 

for 2017, divided by 20, (c) For workers becoming newly 

eligible or dying after 2018, index the initial PIA per YOC by 

growth in the national average wage index (AWI), (d) 

Minimum benefit levels are increased by the COLA after the 

year of initial eligibility, and (e) The 30 and 10 YOC 

thresholds apply for all workers, including those who die or 

become disabled under age 62................................................... -0.13 -0.19
Table A—Estimated Long-Range OASDI Financial Effects of H.R. 2855,

the “Social Security for Future Generations Act of 2017” (115

th Congress), 

Introduced by Rep. Lawson

Provision

Estimated Change in

Long-Range OASDI 

Actuarial Balance 1

(as a percent of payroll)

Estimated Change 

in Annual Balance 

for 75th year 2

(as a percent of payroll)

Section 7) Establish an alternative benefit for a surviving 

spouse. For the surviving spouse, the alternative benefit 

would equal 75 percent of the sum of the survivor's own 

worker benefit and the deceased worker's PIA (including any 

actuarial reductions or delayed retirement credits). If the 

deceased worker died before becoming entitled, use the age 62 

actuarial reduction if deceased before age 62, or the applicable 

actuarial reduction/DRC for entitlement at the age of death if 

deceased after 62. The alternative benefit would be limited so 

as not to exceed the PIA for a hypothetical earner who earned

the SSA average wage index (AWI) every year, and who 

becomes eligible at age 62 for retired-worker benefits in the 

same year in which the deceased worker became entitled to 

worker benefits or died (if before entitlement). The alternative 

benefit would be paid only if more than the current-law 

benefit. This benefit would be available to surviving spouses 

on the rolls at the beginning of 2018 and those becoming 

eligible during and after 2018.................................................... -0.12 -0.12

Total for all provisions, including interaction........................ 1.40 1.40

1Under current law, the estimated long-range OASDI actuarial balance is -2.66 percent of taxable payroll.

2Under current law, the estimated 75th year annual balance is -4.35 percent of taxable payroll.

Notes: All estimates are based on the intermediate assumptions of the 2016 OASDI Trustees Report. 

 Estimates of individual provisions appear on a stand-alone basis relative to current law, unless otherwise stated.

Social Security Administration

Office of the Chief Actuary

June 8, 2017
Proposal Proposal Proposal

Year Scheduled to Scheduled to Payable to

Attain Benefit Minimum Current Law Current Law Current Law

Age 65 (Wage-Indexed (CPI-Indexed COLA5

Formula6 Benefit7Total8 Scheduled Payable Payable

2015 Dollars) 2015 Dollars)

 

2016 718 718 0.0 0.0 0.0 0.0 100 100 100

2030 660 812 0.6 0.0 46.3 47.2 147 147 147

2050 661 1,036 0.6 0.0 46.3 47.2 147 184 166

2080 665 1,469 0.6 0.0 46.3 47.2 147 196 166

 

2016 718 718 0.0 0.0 0.0 0.0 100 100 100

2030 660 812 0.6 0.0 0.0 0.6 101 101 101

2050 661 1,036 0.6 0.0 0.0 0.6 101 126 113

2080 665 1,469 0.6 0.0 0.0 0.6 101 134 113

 

2016 718 718 0.0 0.0 0.0 0.0 100 100 100

2030 660 812 0.6 0.0 0.0 0.6 101 101 101

2050 661 1,036 0.6 0.0 0.0 0.6 101 126 113

2080 665 1,469 0.6 0.0 0.0 0.6 101 134 113

2016 940 940 0.0 0.0 0.0 0.0 100 100 100

2030 863 1,062 0.6 0.0 11.8 12.5 112 112 112

2050 865 1,356 0.6 0.0 11.8 12.5 112 141 127

2080 869 1,921 0.6 0.0 11.8 12.5 112 150 127

2016 940 940 0.0 0.0 0.0 0.0 100 100 100

2030 863 1,062 0.6 0.0 11.8 12.5 112 112 112

2050 865 1,356 0.6 0.0 11.8 12.5 112 141 127

2080 869 1,921 0.6 0.0 11.8 12.5 112 150 127

2016 940 940 0.0 0.0 0.0 0.0 100 100 100

2030 863 1,062 0.6 0.0 0.0 0.6 101 101 101

2050 865 1,356 0.6 0.0 0.0 0.6 101 126 113

2080 869 1,921 0.6 0.0 0.0 0.6 101 134 113

2016 1,548 1,548 0.0 0.0 0.0 0.0 100 100 100

2030 1,423 1,750 0.6 0.0 0.0 0.6 101 101 101

2050 1,425 2,234 0.6 0.0 0.0 0.6 101 126 113

2080 1,433 3,166 0.6 0.0 0.0 0.6 101 134 113

2016 1,548 1,548 0.0 0.0 0.0 0.0 100 100 100

2030 1,423 1,750 0.6 0.0 0.0 0.6 101 101 101

2050 1,425 2,234 0.6 0.0 0.0 0.6 101 126 113

2080 1,433 3,166 0.6 0.0 0.0 0.6 101 134 113

2016 2,053 2,053 0.0 0.0 0.0 0.0 100 100 100

2030 1,885 2,319 0.6 0.0 0.0 0.6 101 101 101

2050 1,888 2,960 0.6 0.0 0.0 0.6 101 126 113

2080 1,899 4,195 0.6 0.0 0.0 0.6 101 134 113

2016 2,492 2,492 0.0 0.0 0.0 0.0 100 100 100

2030 2,308 2,839 0.6 0.0 0.0 0.6 101 101 101

2050 2,309 3,622 0.6 0.0 0.0 0.6 101 126 113

2080 2,317 5,119 0.6 0.0 0.0 0.6 101 134 113

2016 2,492 2,492 0.0 0.0 0.0 0.0 100 100 100

2030 2,308 2,839 0.6 1.1 0.0 1.7 102 102 102

2050 2,309 3,622 0.6 4.9 0.0 5.5 106 132 119

2080 2,317 5,119 0.6 6.8 0.0 7.5 107 143 121

1

2

3

4

5

6

7

8

All estimates based on the intermediate assumptions of the 2016 Trustees Report.

Office of the Chief Actuary, Social Security Administration June 8, 2017

 High-AIME ($78,594 for 20161) 44-Year Scaled Earner (19.8% of Retirees2)

 Maximum-Current-Law-AIME ($118,500 for 20161) 43-Year Steady Earner (6.3% of Retirees2)

Twice Maximum-Current-Law-AIME ($237,000 for 20161) 43-Year Steady Earner3

Average of highest 35 years of taxable earnings wage indexed to 2016. For the Maximum and Twice Maximum-Current-Law-AIME workers, we show one times and two times 

the 2016 taxable maximum, respectively.

Projected percent of new retired worker awards in 2050 with current-law AIME levels and years of covered earnings closest to AIME levels and years of covered earnings shown.

If all earnings were considered, unlimited by annual taxable maximums, then about 1.5 percent of all retirees would have an AIME closer to Twice Maximum-Current-Law than 

Maximum-Current-Law.

After the trust fund reserves deplete under current law continuing taxes are expected to be enough to pay about three fourths of scheduled benefits.

Starting Dec 2019, compute the COLA using increases in the CPI-E, producing 0.2% higher annual COLAs on average.

Starting in 2018, apply the OASDI payroll tax rate on earnings above $250,000, and tax all earnings once the current-law taxable maximum exceeds $250,000. Credit the 

additional earnings for benefit purposes by: (a) calculating a second average indexed monthly earnings ("AIME+") reflecting only earnings taxed above the current law taxable 

maximum, (b) applying a 2 percent factor on this newly computed "AIME+" to develop a second component of the PIA, and (c) adding this second PIA component to the first PIA 

component.

For beneficiaries newly eligible in 2018, establish a minimum PIA level such that a worker with 30/10 years of coverage would receive an initial PIA of at least 125%/0% of the 

monthly poverty level for 2017. For beneficiaries newly eligible after 2018, the initial minimum PIA level would be adjusted for average wage growth. The Minimum Benefit 

Percent change is calculated after all other provisions, so that the Proposed Benefit Amount is at least the Minimum Benefit, where applicable.

Reflects only the provisions of the proposal shown in these illustrations.

 Medium-AIME ($49,121 for 20161) 30-Year Scaled Earner (3.2% of Retirees2)

Monthly Benefits4

(Percent change) (Percents)

 Very-Low-AIME ($12,280 for 20161) 30-Year Scaled Earner (8.9% of Retirees2)

 Very-Low-AIME ($12,280 for 20161) 20-Year Scaled Earner (5.2% of Retirees2)

 Very-Low-AIME ($12,280 for 20161) 14-Year Scaled Earner (4.2% of Retirees2)

 Low-AIME ($22,105 for 20161) 44-Year Scaled Earner (16.9% of Retirees2)

 Low-AIME ($22,105 for 20161) 30-Year Scaled Earner (4.4% of Retirees2)

 Low-AIME ($22,105 for 20161) 20-Year Scaled Earner (2.0% of Retirees2)

 Medium-AIME ($49,121 for 20161) 44-Year Scaled Earner (29.2% of Retirees2)

Table B1. Changes in Benefits for Hypothetical Workers Beginning Benefit Receipt at age 65 

H.R. 2855, the “Social Security for Future Generations Act of 2017” (115th Congress), Introduced by Rep. Lawson

Benefit Ratios

Scheduled Benefit Level Percent Change at age 65

Current Law Scheduled
Year 

Attain

Age 65 Age 65 Age 75 Age 85 Age 95

2016 100.0 101.4 103.4 105.4

2030 147.2 150.1 153.0 156.0

2050 147.2 150.1 153.0 156.0

2080 147.2 150.1 153.0 156.0

2016 100.0 101.4 103.4 105.4

2030 100.6 102.6 104.6 106.6

2050 100.6 102.6 104.6 106.6

2080 100.6 102.6 104.6 106.6

2016 100.0 101.4 103.4 105.4

2030 100.6 102.6 104.6 106.6

2050 100.6 102.6 104.6 106.6

2080 100.6 102.6 104.6 106.6

2016 100.0 101.4 103.4 105.4

2030 112.5 114.7 117.0 119.3

2050 112.5 114.7 116.9 119.2

2080 112.5 114.7 117.0 119.3

2016 100.0 101.4 103.4 105.4

2030 112.5 114.7 117.0 119.3

2050 112.5 114.7 116.9 119.2

2080 112.5 114.7 117.0 119.3

2016 100.0 101.4 103.4 105.4

2030 100.6 102.6 104.6 106.6

2050 100.6 102.6 104.6 106.6

2080 100.6 102.6 104.6 106.6

2016 100.0 101.4 103.4 105.4

2030 100.6 102.6 104.6 106.6

2050 100.6 102.6 104.6 106.6

2080 100.6 102.6 104.6 106.6

2016 100.0 101.4 103.4 105.4

2030 100.6 102.6 104.6 106.6

2050 100.6 102.6 104.6 106.6

2080 100.6 102.6 104.6 106.6

2016 100.0 101.4 103.4 105.4

2030 100.6 102.6 104.6 106.6

2050 100.6 102.6 104.6 106.6

2080 100.6 102.6 104.6 106.6

2016 100.0 101.4 103.4 105.4

2030 100.6 102.6 104.6 106.6

2050 100.6 102.6 104.6 106.6

2080 100.6 102.6 104.6 106.6

2016 100.0 101.4 103.4 105.4

2030 101.7 103.7 105.7 107.8

2050 105.5 107.6 109.7 111.9

2080 107.5 109.6 111.7 113.9

1

2

3

Note: 

- Starting Dec 2019, compute the COLA using the increase in CPI-E, producing 0.2% higher annual COLAs on average.

-

-

-

All estimates based on the intermediate assumptions of the 2016 Trustees Report.

Office of the Chief Actuary, Social Security Administration June 8, 2017

Starting in 2018, apply the OASDI payroll tax rate on earnings above $250,000, and tax all earnings once the current-law taxable maximum exceeds $250,000. Credit the additional 

earnings for benefit purposes by: (a) calculating a second average indexed monthly earnings ("AIME+") reflecting only earnings taxed above the current law taxable maximum, (b) 

applying a 2 percent factor on this newly computed "AIME+" to develop a second component of the PIA, and (c) adding this second PIA component to the first PIA component.

For beneficiaries newly eligible in 2018, establish a minimum PIA level such that a worker with 30/10 years of coverage would receive an initial PIA of at least 125%/0% of the monthly 

poverty level for 2017. For beneficiaries newly eligible after 2018, the initial minimum PIA level would be adjusted for average wage growth.

Reflects only the provisions of the proposal shown in these illustrations.

If all earnings were considered, unlimited by annual taxable maximums, then about 1.5 percent of all retirees would have an AIME closer to Twice Maximum-Current-Law than MaximumCurrent-Law.

 Very-Low-AIME ($12,280 for 20161) 14-Year Scaled Earner (4.2% of Retirees2)

 Low-AIME ($22,105 for 20161) 44-Year Scaled Earner (16.9% of Retirees2)

 Low-AIME ($22,105 for 20161) 30-Year Scaled Earner (4.4% of Retirees2)

 Low-AIME ($22,105 for 20161) 20-Year Scaled Earner (2.0% of Retirees2)

 Medium-AIME ($49,121 for 20161) 44-Year Scaled Earner (29.2% of Retirees2)

 Medium-AIME ($49,121 for 20161) 30-Year Scaled Earner (3.2% of Retirees2)

 High-AIME ($78,594 for 20161) 44-Year Scaled Earner (19.8% of Retirees2)

 Maximum-Current-Law-AIME ($118,500 for 20161) 43-Year Steady Earner (6.3% of Retirees2)

Twice Maximum-Current-Law-AIME ($237,000 for 20161) 43-Year Steady Earner3

Average of highest 35 years of taxable earnings wage indexed to 2016. For the Maximum and Twice Maximum-Current-Law-AIME workers, we show one times and two times the 2016 

taxable maximum, respectively.

Projected percent of new retired worker awards in 2050 with current-law AIME levels and years of covered earnings closest to AIME levels and years of covered earnings shown.

 Very-Low-AIME ($12,280 for 20161) 20-Year Scaled Earner (5.2% of Retirees2)

Table B2. Changes in Benefits for Hypothetical Workers Beginning Benefit Receipt at age 65 

H.R. 2855, the “Social Security for Future Generations Act of 2017” (115th Congress), Introduced by Rep. Lawson

Proposal Scheduled Benefit as Percent of Current Law Scheduled

(Percent)

 Very-Low-AIME ($12,280 for 20161) 30-Year Scaled Earner (8.9% of Retirees2)
Category Dually Entitled2 WEP3

Foreign Born All Others4

Very-Low-AIME ($10,101 for 20071):

30-Year Scaled Earner (9.3% of Retirees) 47 6 11 40

20-Year Scaled Earner (5.8% of Retirees) 38 16 21 31

14-Year Scaled Earner (5.3% of Retirees) 22 21 45 20

Low-AIME ($18,182 for 20071):

44-Year Scaled Earner (13.1% of Retirees) 15 2 6 78

30-Year Scaled Earner (5.9% of Retirees) 16 9 18 59

20-Year Scaled Earner (3.1% of Retirees) 10 23 35 37

Medium-AIME ($40,405 for 20071):

44-Year Scaled Earner (23.0% of Retirees) 1 1 5 93

30-Year Scaled Earner (4.4% of Retirees) 1 8 26 67

High-AIME ($64,649 for 20071):

44-Year Scaled Earner (20.5% of Retirees) 0 0 6 93

Maximum-Current-Law-AIME ($82,224 for 20071):

Steady Earner (9.4% of Retirees) 0 0 7 93

1

2

3

Covered by pension from government employment and are subject to the windfall elimination provision (WEP).

4 Neither foreign born, subject to WEP, or dually entitled.

March 21, 2017

Note 3: The sum of the percentages for each category (sum across rows) could be greater than 100 percent because some beneficiaries can be classified in more than one of the 

following groups: dually entitled, WEP, and foreign born. 

Average of highest 35 years of taxable earnings wage indexed to 2007.

Under current law, entitled to an additional benefit based on someone else's account. The dually entitled percent is a minimum value. Some beneficiaries that are not currently 

dually entitled could become dually entitled in the future.

Office of the Chief Actuary, Social Security Administration

Table B3. Important Characteristics of Hypothetical Workers in 2007

Percent of Beneficiaries Within Each Category That Are:

Note 1: Table B3 displays the percentages of these newly-entitled retired workers in 2007 that are closest to each of the illustrative examples.

Note 2: The percents in each category are based on tabulations of a 10-percent sample of newly entitled retired-worker beneficiaries in 2007 (169,725 records). We can be 95 

percent confident that each of the values shown above is within 1.4 percentage points of the value we would find using 100 percent of the retirees in 2007.
Proposal Scheduled Payroll Taxes

Earnings Taxable Percent of Current Law

in Year (Wage-Indexed (CPI-Indexed Maximum2

2015 Dollars) 2015 Dollars) (Percents)

2016 127 127 0.0 100

2030 127 156 0.0 100

2050 127 199 0.0 100

2080 127 280 0.0 100

2016 228 228 0.0 100

2030 228 281 0.0 100

2050 228 358 0.0 100

2080 228 505 0.0 100

2016 508 508 0.0 100

2030 508 624 0.0 100

2050 508 796 0.0 100

2080 508 1,122 0.0 100

2016 812 812 0.0 100

2030 812 999 0.0 100

2050 812 1,274 0.0 100

2080 812 1,795 0.0 100

2016 1,225 1,225 0.0 100

2030 1,225 1,506 0.0 100

2050 1,225 1,920 0.0 100

2080 1,225 2,706 0.0 100

2016 1,225 1,225 0.0 100

2030 1,225 1,506 82.3 182

2050 1,225 1,920 100.0 200

2080 1,225 2,706 100.0 200

1

2

All estimates based on the intermediate assumptions of the 2016 Trustees Report.

Percentile among all workers with any covered earnings in 2016 (including earnings both above and below the current-law maximum earnings level). We include those who will die 

or become disabled before reaching retirement age, and those who will not earn enough in their career to become fully insured for retired worker benefits. Thus, these percentiles are 

not directly comparable to the percentages in the B tables, which are based on lifetime earnings, and include only those who survive and become eligible for retirement benefits.

Apply the OASDI payroll tax rate on covered earnings above $250,000 starting in 2018, and tax all covered earnings once the current-law taxable maximum exceeds $250,000.

Office of the Chief Actuary, Social Security Administration June 8, 2017

98th Percentile Earner1 in Year ($237,000 in 2016) Twice Current-Law Maximum Earnings Level

Table T. Changes in Payroll Tax Contributions (Employee + Employer) for Workers with OASDI Covered Earnings in the Year

H.R. 2855, the “Social Security for Future Generations Act of 2017” (115th Congress), Introduced by Rep. Lawson

Scheduled Payroll Taxes Percent Change 

Current Law Scheduled

Monthly Total Payroll Taxes

(Percent change) 

30th Percentile Earner1 in Year ($12,280 in 2016)

42nd Percentile Earner1 in Year ($22,105 in 2016)

69th Percentile Earner1 in Year ($49,121 in 2016)

86th Percentile Earner1 in Year ($78,594 in 2016)

94th Percentile Earner1 in Year ($118,500 in 2016) Current-Law Maximum Earnings Level
Table 1 - OASDI Cost Rate, Income Rate, Annual Balance, and Trust Fund Ratio

H.R. 2855, the "Social Security for Future Generations Act of 2017," Introduced by Representative Al Lawson

Year Cost Rate

Income

Rate

Annual

Balance Cost Rate

Income

Rate

Annual

Balance

2016 14.05 12.94 -1.10 303 0.00 0.00 0.00

2017 13.72 12.92 -0.80 293 0.00 0.00 0.00

2018 14.06 14.35 0.30 273 0.20 1.40 1.20

2019 14.19 14.48 0.29 266 0.20 1.51 1.31

2020 14.37 14.53 0.16 259 0.24 1.55 1.31

2021 14.54 14.59 0.05 252 0.27 1.59 1.32

2022 14.80 14.66 -0.14 244 0.30 1.63 1.32

2023 15.10 14.72 -0.38 235 0.34 1.66 1.32

2024 15.40 14.79 -0.62 226 0.38 1.69 1.32

2025 15.70 14.84 -0.86 215 0.42 1.73 1.31

2026 15.92 14.91 -1.01 206 0.45 1.79 1.33

2027 16.13 14.99 -1.15 196 0.49 1.84 1.36

2028 16.33 15.06 -1.27 187 0.52 1.90 1.39

2029 16.52 15.14 -1.38 179 0.55 1.97 1.42

2030 16.68 15.21 -1.47 170 0.58 2.03 1.46

2031 16.83 15.29 -1.53 162 0.60 2.10 1.50

2032 16.96 15.37 -1.58 154 0.63 2.17 1.54

2033 17.06 15.46 -1.61 145 0.65 2.25 1.59

2034 17.14 15.54 -1.60 137 0.68 2.33 1.65

2035 17.20 15.57 -1.63 129 0.70 2.35 1.65

2036 17.28 15.58 -1.70 121 0.72 2.36 1.63

2037 17.34 15.59 -1.76 112 0.74 2.36 1.62

2038 17.38 15.59 -1.79 103 0.76 2.36 1.60

2039 17.39 15.59 -1.80 94 0.78 2.36 1.58

2040 17.39 15.60 -1.79 85 0.80 2.37 1.57

2041 17.37 15.60 -1.78 75 0.81 2.37 1.55

2042 17.36 15.60 -1.76 66 0.82 2.37 1.54

2043 17.34 15.60 -1.73 57 0.84 2.37 1.53

2044 17.31 15.60 -1.71 48 0.85 2.37 1.53

2045 17.30 15.60 -1.70 39 0.85 2.37 1.52

2046 17.29 15.60 -1.68 30 0.86 2.37 1.51

2047 17.27 15.61 -1.66 20 0.87 2.37 1.51

2048 17.26 15.61 -1.65 11 0.87 2.38 1.50

2049 17.25 15.61 -1.64 2 0.88 2.38 1.50

2050 17.24 15.61 -1.63 ---- 0.88 2.38 1.50

2051 17.24 15.61 -1.63 ---- 0.89 2.38 1.49

2052 17.26 15.61 -1.65 ---- 0.89 2.38 1.49

2053 17.29 15.62 -1.67 ---- 0.89 2.38 1.49

2054 17.32 15.62 -1.70 ---- 0.90 2.38 1.48

2055 17.37 15.63 -1.74 ---- 0.90 2.38 1.48

2056 17.41 15.63 -1.78 ---- 0.91 2.38 1.48

2057 17.47 15.64 -1.83 ---- 0.91 2.39 1.47

2058 17.52 15.64 -1.88 ---- 0.92 2.39 1.47

2059 17.58 15.65 -1.93 ---- 0.92 2.39 1.47

2060 17.63 15.65 -1.98 ---- 0.92 2.39 1.46

2061 17.69 15.66 -2.03 ---- 0.93 2.39 1.46

2062 17.74 15.66 -2.08 ---- 0.93 2.39 1.46

2063 17.80 15.67 -2.13 ---- 0.94 2.39 1.45

2064 17.85 15.67 -2.18 ---- 0.94 2.39 1.45

2065 17.90 15.67 -2.23 ---- 0.95 2.40 1.45

2066 17.96 15.68 -2.28 ---- 0.95 2.40 1.44

2067 18.02 15.69 -2.33 ---- 0.96 2.40 1.44

2068 18.08 15.69 -2.39 ---- 0.96 2.40 1.44

2069 18.14 15.69 -2.44 ---- 0.97 2.40 1.43

2070 18.19 15.70 -2.49 ---- 0.97 2.40 1.43

2071 18.24 15.70 -2.54 ---- 0.98 2.40 1.42

2072 18.29 15.71 -2.58 ---- 0.98 2.41 1.42

2073 18.33 15.71 -2.62 ---- 0.99 2.41 1.42

2074 18.36 15.72 -2.65 ---- 0.99 2.41 1.42

2075 18.39 15.72 -2.67 ---- 1.00 2.41 1.41

2076 18.40 15.72 -2.68 ---- 1.00 2.41 1.41

2077 18.41 15.72 -2.69 ---- 1.00 2.41 1.41

2078 18.41 15.73 -2.69 ---- 1.00 2.41 1.41

2079 18.41 15.73 -2.68 ---- 1.01 2.42 1.41

2080 18.41 15.73 -2.68 ---- 1.01 2.42 1.41

2081 18.41 15.73 -2.68 ---- 1.01 2.42 1.41

2082 18.42 15.73 -2.69 ---- 1.01 2.42 1.41

2083 18.43 15.73 -2.70 ---- 1.01 2.42 1.41

2084 18.45 15.74 -2.72 ---- 1.01 2.42 1.41

2085 18.48 15.74 -2.75 ---- 1.01 2.42 1.41

2086 18.52 15.74 -2.78 ---- 1.02 2.42 1.41

2087 18.56 15.75 -2.82 ---- 1.02 2.43 1.41

2088 18.61 15.75 -2.86 ---- 1.02 2.43 1.41

2089 18.65 15.75 -2.90 ---- 1.02 2.43 1.40

2090 18.70 15.76 -2.94 ---- 1.03 2.43 1.40

2091 18.75 15.76 -2.99 ---- 1.03 2.43 1.40

Summarized Rates: OASDI Summarized Rates: OASDI

Cost Rate Income Rate

Actuarial 

Balance

Change in 

Cost rate

Change in 

Income Rate

Change in 

Actuarial

Balance

2016 - 2090 17.26% 16.01% -1.25% 2049 0.76% 2.17% 1.40%

Based on Intermediate Assumptions of the 2016 Trustees Report. Social Security Administration

1Under present law the year of combined Trust Fund reserve depletion is 2034.

Year of reserve 

depletion1

Office of the Chief Actuary

June 8, 2017

Proposal Change from Current Law

Expressed as a percentage of current-law

taxable payroll Trust Fund

Ratio

1-1-year

Expressed as a percentage of current-law

taxable payroll
Table 1a - General Fund Transfers, OASDI Trust Fund Reserves, and Theoretical OASDI Reserves

H.R. 2855, the "Social Security for Future Generations Act of 2017," Introduced by Representative Al Lawson

Percentage

of Payroll

Annual

Amounts

Accumulated as of 

End of Year

Gross Domestic 

Product

Without General

Fund Transfers

With Plan General

Fund Transfers

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

2016 0.0 0.0 0.0 2,741.0 18,368.5 2,741.0 2,741.0

2017 0.0 0.0 0.0 2,687.5 18,780.3 2,687.5 2,687.5

2018 0.0 0.0 0.0 2,708.5 19,199.4 2,625.9 2,625.9

2019 0.0 0.0 0.0 2,729.4 19,590.0 2,554.4 2,554.4

2020 0.0 0.0 0.0 2,741.6 19,948.3 2,471.7 2,471.7

2021 0.0 0.0 0.0 2,746.1 20,275.2 2,378.9 2,378.9

2022 0.0 0.0 0.0 2,736.7 20,546.2 2,270.6 2,270.6

2023 0.0 0.0 0.0 2,708.4 20,765.2 2,142.4 2,142.4

2024 0.0 0.0 0.0 2,662.0 20,965.2 1,994.9 1,994.9

2025 0.0 0.0 0.0 2,596.1 21,141.0 1,827.2 1,827.2

2026 0.0 0.0 0.0 2,518.4 21,283.5 1,645.4 1,645.4

2027 0.0 0.0 0.0 2,429.8 21,355.9 1,450.6 1,450.6

2028 0.0 0.0 0.0 2,331.8 21,346.6 1,244.3 1,244.3

2029 0.0 0.0 0.0 2,226.0 21,259.6 1,028.4 1,028.4

2030 0.0 0.0 0.0 2,114.6 21,099.1 804.8 804.8

2031 0.0 0.0 0.0 1,999.2 20,898.2 575.3 575.3

2032 0.0 0.0 0.0 1,881.3 20,696.5 341.0 341.0

2033 0.0 0.0 0.0 1,763.0 20,500.4 103.7 103.7

2034 0.0 0.0 0.0 1,646.4 20,306.0 -134.7 -134.7

2035 0.0 0.0 0.0 1,529.2 20,116.5 -372.8 -372.8

2036 0.0 0.0 0.0 1,407.9 19,925.6 -612.3 -612.3

2037 0.0 0.0 0.0 1,283.7 19,743.3 -852.1 -852.1

2038 0.0 0.0 0.0 1,158.7 19,571.8 -1,090.4 -1,090.4

2039 0.0 0.0 0.0 1,034.0 19,401.7 -1,326.1 -1,326.1

2040 0.0 0.0 0.0 911.0 19,234.9 -1,558.1 -1,558.1

2041 0.0 0.0 0.0 790.2 19,071.7 -1,786.1 -1,786.1

2042 0.0 0.0 0.0 671.6 18,908.8 -2,010.0 -2,010.0

2043 0.0 0.0 0.0 555.8 18,751.3 -2,229.8 -2,229.8

2044 0.0 0.0 0.0 442.4 18,594.5 -2,445.4 -2,445.4

2045 0.0 0.0 0.0 330.9 18,429.9 -2,657.8 -2,657.8

2046 0.0 0.0 0.0 221.6 18,269.6 -2,866.7 -2,866.7

2047 0.0 0.0 0.0 114.6 18,107.9 -3,072.2 -3,072.2

2048 0.0 0.0 0.0 9.3 17,944.3 -3,274.5 -3,274.5

2049 0.0 0.0 0.0 -94.1 17,781.3 -3,473.9 -3,473.9

2050 0.0 0.0 0.0 -196.0 17,618.6 -3,670.6 -3,670.6

2051 0.0 0.0 0.0 -297.1 17,454.0 -3,865.4 -3,865.4

2052 0.0 0.0 0.0 -398.0 17,289.8 -4,059.0 -4,059.0

2053 0.0 0.0 0.0 -499.4 17,125.7 -4,251.9 -4,251.9

2054 0.0 0.0 0.0 -601.6 16,960.9 -4,444.5 -4,444.5

2055 0.0 0.0 0.0 -705.1 16,796.5 -4,637.2 -4,637.2

2056 0.0 0.0 0.0 -810.1 16,631.9 -4,830.5 -4,830.5

2057 0.0 0.0 0.0 -916.9 16,467.6 -5,024.3 -5,024.3

2058 0.0 0.0 0.0 -1,025.4 16,304.7 -5,218.8 -5,218.8

2059 0.0 0.0 0.0 -1,135.6 16,142.6 -5,413.9 -5,413.9

2060 0.0 0.0 0.0 -1,247.5 15,981.3 -5,609.6 -5,609.6

2061 0.0 0.0 0.0 -1,361.0 15,821.7 -5,805.8 -5,805.8

2062 0.0 0.0 0.0 -1,476.1 15,664.2 -6,002.5 -6,002.5

2063 0.0 0.0 0.0 -1,592.8 15,508.7 -6,199.6 -6,199.6

2064 0.0 0.0 0.0 -1,710.8 15,355.7 -6,397.1 -6,397.1

2065 0.0 0.0 0.0 -1,830.3 15,204.5 -6,595.0 -6,595.0

2066 0.0 0.0 0.0 -1,951.2 15,055.3 -6,793.3 -6,793.3

2067 0.0 0.0 0.0 -2,073.7 14,907.9 -6,992.1 -6,992.1

2068 0.0 0.0 0.0 -2,197.7 14,762.2 -7,191.4 -7,191.4

2069 0.0 0.0 0.0 -2,323.1 14,618.0 -7,391.0 -7,391.0

2070 0.0 0.0 0.0 -2,449.8 14,476.2 -7,591.0 -7,591.0

2071 0.0 0.0 0.0 -2,577.5 14,336.4 -7,791.2 -7,791.2

2072 0.0 0.0 0.0 -2,705.9 14,198.6 -7,991.1 -7,991.1

2073 0.0 0.0 0.0 -2,834.8 14,062.2 -8,190.5 -8,190.5

2074 0.0 0.0 0.0 -2,963.8 13,927.2 -8,389.1 -8,389.1

2075 0.0 0.0 0.0 -3,092.4 13,793.7 -8,586.7 -8,586.7

2076 0.0 0.0 0.0 -3,220.4 13,661.5 -8,782.6 -8,782.6

2077 0.0 0.0 0.0 -3,347.2 13,530.3 -8,976.7 -8,976.7

2078 0.0 0.0 0.0 -3,472.8 13,399.9 -9,168.8 -9,168.8

2079 0.0 0.0 0.0 -3,596.8 13,271.0 -9,358.6 -9,358.6

2080 0.0 0.0 0.0 -3,719.3 13,143.2 -9,546.2 -9,546.2

2081 0.0 0.0 0.0 -3,840.6 13,016.0 -9,731.8 -9,731.8

2082 0.0 0.0 0.0 -3,960.8 12,889.1 -9,915.6 -9,915.6

2083 0.0 0.0 0.0 -4,080.2 12,762.3 -10,098.0 -10,098.0

2084 0.0 0.0 0.0 -4,199.2 12,635.6 -10,279.3 -10,279.3

2085 0.0 0.0 0.0 -4,318.2 12,509.3 -10,459.9 -10,459.9

2086 0.0 0.0 0.0 -4,437.3 12,383.5 -10,639.8 -10,639.8

2087 0.0 0.0 0.0 -4,556.7 12,258.4 -10,819.4 -10,819.4

2088 0.0 0.0 0.0 -4,676.5 12,134.0 -10,998.8 -10,998.8

2089 0.0 0.0 0.0 -4,796.8 12,010.4 -11,177.9 -11,177.9

2090 0.0 0.0 0.0 -4,917.6 11,887.6 -11,356.8 -11,356.8

2091 0.0 0.0 0.0 -5,038.9 11,765.8 -11,535.6 -11,535.6

Total 2016-2090 0.0

Based on the Intermediate Assumptions of the 2016 Trustees Report.

Ultimate Real Trust Fund Yield of 2.7%.

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. June 8, 2017

Calendar

Year

Proposal General Fund Transfers Present Value in Billions as of 1-1-2016

Proposal

Total OASDI

Trust Fund

Reserves

 at End of Year

Theoretical Social Security1

with Borrowing Authority

Present Value in Billions as of 1-1- 2016 Net OASDI Trust Fund Reserves at End of Year
Table 1b - OASDI Changes & Implications for Federal Budget and Debt of Specified Plan Provision Effects on OASDI1

 (Present Value Dollars)

H.R. 2855, the "Social Security for Future Generations Act of 2017," Introduced by Representative Al Lawson

Year

Specified 

General Fund 

Transfers

Basic Changes

in OASDI

Cash Flow

Change

in Annual

Unified Budget

Cash Flow

Change in

Debt Held

by Public at

End of Year

Change

in Annual

Unified Budget

Balance

Change

in Total

Federal Debt

End Of Year

Change

in Annual

On Budget

Balance

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

2016 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2017 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2018 0.0 82.6 82.6 -82.6 82.6 0.0 0.0

2019 0.0 92.4 92.4 -175.0 94.9 0.0 0.0

2020 0.0 95.0 95.0 -269.9 100.4 0.0 0.0

2021 0.0 97.3 97.3 -367.2 105.8 0.0 0.0

2022 0.0 98.9 98.9 -466.1 110.7 0.0 0.0

2023 0.0 99.9 99.9 -566.0 115.2 0.0 0.0

2024 0.0 101.0 101.0 -667.0 120.2 0.0 0.0

2025 0.0 101.9 101.9 -768.9 125.2 0.0 0.0

2026 0.0 104.1 104.1 -873.0 133.3 0.0 0.0

2027 0.0 106.2 106.2 -979.2 142.2 0.0 0.0

2028 0.0 108.3 108.3 -1,087.5 151.7 0.0 0.0

2029 0.0 110.2 110.2 -1,197.6 161.9 0.0 0.0

2030 0.0 112.2 112.2 -1,309.8 173.2 0.0 0.0

2031 0.0 114.1 114.1 -1,423.9 180.9 0.0 0.0

2032 0.0 116.4 116.4 -1,540.3 189.0 0.0 0.0

2033 0.0 119.0 119.0 -1,659.3 197.5 0.0 0.0

2034 0.0 121.9 121.9 -1,781.2 206.4 0.0 0.0

2035 0.0 120.9 120.9 -1,902.0 211.6 0.0 0.0

2036 0.0 118.2 118.2 -2,020.2 215.1 0.0 0.0

2037 0.0 115.6 115.6 -2,135.8 218.6 0.0 0.0

2038 0.0 113.2 113.2 -2,249.1 222.1 0.0 0.0

2039 0.0 111.0 111.0 -2,360.1 225.7 0.0 0.0

2040 0.0 109.0 109.0 -2,469.1 229.3 0.0 0.0

2041 0.0 107.2 107.2 -2,576.3 233.0 0.0 0.0

2042 0.0 105.4 105.4 -2,681.7 236.7 0.0 0.0

2043 0.0 103.8 103.8 -2,785.5 240.5 0.0 0.0

2044 0.0 102.4 102.4 -2,887.9 244.3 0.0 0.0

2045 0.0 100.9 100.9 -2,988.8 248.1 0.0 0.0

2046 0.0 99.6 99.6 -3,088.4 251.9 0.0 0.0

2047 0.0 98.4 98.4 -3,186.7 255.8 0.0 0.0

2048 0.0 97.1 97.1 -3,283.9 259.5 0.0 0.0

2049 0.0 96.0 96.0 -3,379.8 263.3 0.0 0.0

2050 0.0 94.8 94.8 -3,474.7 267.1 0.0 0.0

2051 0.0 93.7 93.7 -3,568.4 270.8 0.0 0.0

2052 0.0 92.6 92.6 -3,661.0 274.5 0.0 0.0

2053 0.0 91.5 91.5 -3,752.5 278.1 0.0 0.0

2054 0.0 90.4 90.4 -3,842.9 281.6 0.0 0.0

2055 0.0 89.3 89.3 -3,932.2 285.1 0.0 0.0

2056 0.0 88.2 88.2 -4,020.3 288.6 0.0 0.0

2057 0.0 87.1 87.1 -4,107.4 292.0 0.0 0.0

2058 0.0 86.0 86.0 -4,193.4 295.3 0.0 0.0

2059 0.0 84.9 84.9 -4,278.3 298.6 0.0 0.0

2060 0.0 83.8 83.8 -4,362.1 301.8 0.0 0.0

2061 0.0 82.7 82.7 -4,444.7 305.0 0.0 0.0

2062 0.0 81.6 81.6 -4,526.3 308.1 0.0 0.0

2063 0.0 80.5 80.5 -4,606.8 311.2 0.0 0.0

2064 0.0 79.5 79.5 -4,686.3 314.2 0.0 0.0

2065 0.0 78.4 78.4 -4,764.7 317.2 0.0 0.0

2066 0.0 77.3 77.3 -4,842.1 320.2 0.0 0.0

2067 0.0 76.3 76.3 -4,918.4 323.1 0.0 0.0

2068 0.0 75.3 75.3 -4,993.7 326.0 0.0 0.0

2069 0.0 74.3 74.3 -5,068.0 328.8 0.0 0.0

2070 0.0 73.3 73.3 -5,141.3 331.6 0.0 0.0

2071 0.0 72.4 72.4 -5,213.6 334.4 0.0 0.0

2072 0.0 71.5 71.5 -5,285.1 337.2 0.0 0.0

2073 0.0 70.6 70.6 -5,355.7 339.9 0.0 0.0

2074 0.0 69.7 69.7 -5,425.4 342.6 0.0 0.0

2075 0.0 68.8 68.8 -5,494.2 345.4 0.0 0.0

2076 0.0 68.0 68.0 -5,562.3 348.0 0.0 0.0

2077 0.0 67.2 67.2 -5,629.5 350.7 0.0 0.0

2078 0.0 66.5 66.5 -5,696.0 353.4 0.0 0.0

2079 0.0 65.8 65.8 -5,761.8 356.1 0.0 0.0

2080 0.0 65.1 65.1 -5,826.8 358.7 0.0 0.0

2081 0.0 64.4 64.4 -5,891.2 361.3 0.0 0.0

2082 0.0 63.7 63.7 -5,954.8 363.9 0.0 0.0

2083 0.0 63.0 63.0 -6,017.8 366.5 0.0 0.0

2084 0.0 62.3 62.3 -6,080.1 369.0 0.0 0.0

2085 0.0 61.6 61.6 -6,141.7 371.5 0.0 0.0

2086 0.0 60.9 60.9 -6,202.6 373.9 0.0 0.0

2087 0.0 60.2 60.2 -6,262.8 376.3 0.0 0.0

2088 0.0 59.5 59.5 -6,322.3 378.7 0.0 0.0

2089 0.0 58.8 58.8 -6,381.1 381.0 0.0 0.0

2090 0.0 58.1 58.1 -6,439.2 383.3 0.0 0.0

Total 2016-2090 0.0 6,439.2 6,439.2

Based on Intermediate Assumptions of the 2016 Trustees Report.

Ultimate Real Trust Fund Yield of 2.7%.

Note: Changes reflect the budget scoring convention that presumes benefits not payable after reserve depletion would Office of the Chief Actuary

 nonetheless be paid, based on transfers from the General Fund of the Treasury resulting in additional borrowing from the public. Social Security Administration

1

 Effects of tax provisions on the On-Budget are not reflected in this table. June 8, 2017

Billions of Present Value Dollars as of 1-1-2016
Table 1b.n - OASDI Changes & Implications for Federal Budget and Debt of Specified Plan Provision Effects on OASDI1

 (Nominal Dollars)

H.R. 2855, the "Social Security for Future Generations Act of 2017," Introduced by Representative Al Lawson

Year

Specified 

General Fund 

Transfers

Basic Changes

in OASDI

Cash Flow

Change

in Annual

Unified Budget

Cash Flow

Change in

Debt Held

by Public at

End of Year

Change

in Annual

Unified Budget

Balance

Change

in Total

Federal Debt

End of Year

Change

in Annual

On Budget

Balance

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

2016 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2017 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2018 0.0 89.2 89.2 -90.7 90.7 0.0 0.0

2019 0.0 102.9 102.9 -198.5 107.7 0.0 0.0

2020 0.0 109.2 109.2 -316.4 117.9 0.0 0.0

2021 0.0 115.4 115.4 -444.8 128.4 0.0 0.0

2022 0.0 121.2 121.2 -583.9 139.1 0.0 0.0

2023 0.0 126.5 126.5 -734.3 150.4 0.0 0.0

2024 0.0 132.4 132.4 -897.3 163.0 0.0 0.0

2025 0.0 138.3 138.3 -1,073.7 176.4 0.0 0.0

2026 0.0 146.5 146.5 -1,268.8 195.1 0.0 0.0

Based on Intermediate Assumptions of the 2016 Trustees Report.

Note: Changes reflect the budget scoring convention that presumes benefits not payable after reserve depletion would Office of the Chief Actuary

 nonetheless be paid, based on transfers from the General Fund of the Treasury resulting in additional borrowing from the public. Social Security Administration

1

 Effects of tax provisions on the On-Budget are not reflected in this table. June 8, 2017

Billions of Nominal Dollars
Table 1c - Current Law and Proposal Cost, Expenditures, and Income: As Percent of Gross Domestic Product

H.R. 2855, the "Social Security for Future Generations Act of 2017," Introduced by Representative Al Lawson

Cost

Expenditures

(Payable)

Non-Interest

Income Cost

Expenditures

(Payable)

Non-Interest

Income

(1) (2) (3) (4) (5) (6)

2016 4.98 4.98 4.59 4.98 4.98 4.59

2017 4.91 4.91 4.62 4.91 4.91 4.62

2018 4.98 4.98 4.65 5.05 5.05 5.16

2019 5.05 5.05 4.68 5.12 5.12 5.22

2020 5.12 5.12 4.70 5.20 5.20 5.26

2021 5.18 5.18 4.72 5.28 5.28 5.30

2022 5.28 5.28 4.75 5.39 5.39 5.34

2023 5.39 5.39 4.77 5.51 5.51 5.37

2024 5.50 5.50 4.79 5.64 5.64 5.41

2025 5.60 5.60 4.81 5.76 5.76 5.44

2026 5.67 5.67 4.81 5.83 5.83 5.46

2027 5.73 5.73 4.81 5.90 5.90 5.48

2028 5.78 5.78 4.81 5.97 5.97 5.50

2029 5.83 5.83 4.81 6.03 6.03 5.53

2030 5.87 5.87 4.81 6.08 6.08 5.55

2031 5.91 5.91 4.80 6.13 6.13 5.57

2032 5.94 5.94 4.80 6.17 6.17 5.59

2033 5.96 5.96 4.80 6.20 6.20 5.62

2034 5.98 5.29 4.80 6.22 6.22 5.64

2035 5.98 4.79 4.79 6.23 6.23 5.65

2036 6.00 4.79 4.79 6.26 6.26 5.64

2037 6.01 4.79 4.79 6.28 6.28 5.64

2038 6.01 4.78 4.78 6.28 6.28 5.64

2039 6.00 4.78 4.78 6.28 6.28 5.63

2040 5.99 4.78 4.78 6.28 6.28 5.63

2041 5.97 4.77 4.77 6.27 6.27 5.63

2042 5.96 4.77 4.77 6.26 6.26 5.62

2043 5.94 4.77 4.77 6.25 6.25 5.62

2044 5.93 4.76 4.76 6.23 6.23 5.62

2045 5.92 4.76 4.76 6.23 6.23 5.62

2046 5.91 4.76 4.76 6.22 6.22 5.61

2047 5.90 4.76 4.76 6.21 6.21 5.61

2048 5.89 4.76 4.76 6.20 6.20 5.61

2049 5.88 4.75 4.75 6.20 5.73 5.61

2050 5.87 4.75 4.75 6.19 5.61 5.61

2051 5.87 4.75 4.75 6.19 5.60 5.60

2052 5.87 4.75 4.75 6.19 5.60 5.60

2053 5.88 4.75 4.75 6.20 5.60 5.60

2054 5.89 4.75 4.75 6.21 5.60 5.60

2055 5.90 4.74 4.74 6.22 5.60 5.60

2056 5.91 4.74 4.74 6.23 5.60 5.60

2057 5.92 4.74 4.74 6.25 5.59 5.59

2058 5.94 4.74 4.74 6.27 5.59 5.59

2059 5.95 4.74 4.74 6.28 5.59 5.59

2060 5.97 4.74 4.74 6.30 5.59 5.59

2061 5.98 4.73 4.73 6.31 5.59 5.59

2062 5.99 4.73 4.73 6.33 5.58 5.58

2063 6.01 4.73 4.73 6.34 5.58 5.58

2064 6.02 4.73 4.73 6.35 5.58 5.58

2065 6.03 4.72 4.72 6.37 5.57 5.57

2066 6.04 4.72 4.72 6.38 5.57 5.57

2067 6.06 4.72 4.72 6.40 5.57 5.57

2068 6.07 4.71 4.71 6.41 5.56 5.56

2069 6.08 4.71 4.71 6.42 5.56 5.56

2070 6.09 4.71 4.71 6.44 5.56 5.56

2071 6.10 4.70 4.70 6.45 5.55 5.55

2072 6.11 4.70 4.70 6.46 5.55 5.55

2073 6.12 4.70 4.70 6.47 5.55 5.55

2074 6.12 4.69 4.69 6.47 5.54 5.54

2075 6.13 4.69 4.69 6.48 5.54 5.54

2076 6.12 4.68 4.68 6.48 5.53 5.53

2077 6.12 4.68 4.68 6.47 5.53 5.53

2078 6.11 4.67 4.67 6.47 5.52 5.52

2079 6.11 4.67 4.67 6.46 5.52 5.52

2080 6.10 4.66 4.66 6.45 5.51 5.51

2081 6.09 4.66 4.66 6.44 5.51 5.51

2082 6.09 4.66 4.66 6.44 5.50 5.50

2083 6.09 4.65 4.65 6.44 5.50 5.50

2084 6.09 4.65 4.65 6.44 5.49 5.49

2085 6.09 4.64 4.64 6.45 5.49 5.49

2086 6.10 4.64 4.64 6.46 5.49 5.49

2087 6.11 4.64 4.64 6.47 5.48 5.48

2088 6.12 4.64 4.64 6.48 5.48 5.48

2089 6.13 4.63 4.63 6.49 5.48 5.48

2090 6.14 4.63 4.63 6.50 5.48 5.48

Based on Intermediate Assumptions of the 2016 Trustees Report. Office of the Chief Actuary

Social Security Administration

June 8, 2017

Current Law OASDI Proposal OASDI

Calendar

Year
Table 1d - Change in Long-Range Trust Fund Reserves / Unfunded Obligation

H.R. 2855, the "Social Security for Future Generations Act of 2017," Introduced by Representative Al Lawson

Year

Current Law OASDI

Trust Fund Reserves /

Unfunded Obligation

Through End of Year

Changes 

in OASDI 

Income

Changes

in OASDI 

Cost

Basic

Changes

in OASDI

Cash Flow

Total Change

Through

End of Year

Proposal OASDI

Trust Fund Reserves /

Unfunded Obligation

Through End of Year

(1) (2) (3) (4) = (2)-(3) (5) = cumulative sum(4) (6) = (1)+(5)

2016 2,741.0 0.0 0.0 0.0 0.0 2,741.0

2017 2,687.5 0.0 0.0 0.0 0.0 2,687.5

2018 2,625.9 96.5 13.9 82.6 82.6 2,708.5

2019 2,554.4 106.8 14.4 92.4 175.0 2,729.4

2020 2,471.7 112.0 17.1 95.0 269.9 2,741.6

2021 2,378.9 117.1 19.8 97.3 367.2 2,746.1

2022 2,270.6 121.7 22.8 98.9 466.1 2,736.7

2023 2,142.4 125.8 25.9 99.9 566.0 2,708.4

2024 1,994.9 130.1 29.1 101.0 667.0 2,662.0

2025 1,827.2 134.2 32.3 101.9 768.9 2,596.1

2026 1,645.4 139.3 35.2 104.1 873.0 2,518.4

2027 1,450.6 144.2 38.0 106.2 979.2 2,429.8

2028 1,244.3 148.7 40.5 108.3 1,087.5 2,331.8

2029 1,028.4 152.8 42.6 110.2 1,197.6 2,226.0

2030 804.8 156.6 44.4 112.2 1,309.8 2,114.6

2031 575.3 160.1 46.0 114.1 1,423.9 1,999.2

2032 341.0 163.8 47.4 116.4 1,540.3 1,881.3

2033 103.7 167.8 48.8 119.0 1,659.3 1,763.0

2034 -134.7 171.9 50.0 121.9 1,781.2 1,646.4

2035 -372.8 172.0 51.1 120.9 1,902.0 1,529.2

2036 -612.3 170.4 52.2 118.2 2,020.2 1,407.9

2037 -852.1 168.8 53.2 115.6 2,135.8 1,283.7

2038 -1,090.4 167.3 54.1 113.2 2,249.1 1,158.7

2039 -1,326.1 165.9 54.8 111.0 2,360.1 1,034.0

2040 -1,558.1 164.4 55.4 109.0 2,469.1 911.0

2041 -1,786.1 163.0 55.9 107.2 2,576.3 790.2

2042 -2,010.0 161.7 56.2 105.4 2,681.7 671.6

2043 -2,229.8 160.3 56.5 103.8 2,785.5 555.8

2044 -2,445.4 159.0 56.6 102.4 2,887.9 442.4

2045 -2,657.8 157.6 56.7 100.9 2,988.8 330.9

2046 -2,866.7 156.2 56.6 99.6 3,088.4 221.6

2047 -3,072.2 154.8 56.5 98.4 3,186.7 114.6

2048 -3,274.5 153.4 56.3 97.1 3,283.9 9.3

2049 -3,473.9 152.0 56.1 96.0 3,379.8 -94.1

2050 -3,670.6 150.6 55.8 94.8 3,474.7 -196.0

2051 -3,865.4 149.2 55.5 93.7 3,568.4 -297.1

2052 -4,059.0 147.8 55.2 92.6 3,661.0 -398.0

2053 -4,251.9 146.4 54.9 91.5 3,752.5 -499.4

2054 -4,444.5 145.0 54.6 90.4 3,842.9 -601.6

2055 -4,637.2 143.6 54.3 89.3 3,932.2 -705.1

2056 -4,830.5 142.2 54.0 88.2 4,020.3 -810.1

2057 -5,024.3 140.7 53.7 87.1 4,107.4 -916.9

2058 -5,218.8 139.3 53.4 86.0 4,193.4 -1,025.4

2059 -5,413.9 137.9 53.1 84.9 4,278.3 -1,135.6

2060 -5,609.6 136.5 52.8 83.8 4,362.1 -1,247.5

2061 -5,805.8 135.1 52.5 82.7 4,444.7 -1,361.0

2062 -6,002.5 133.8 52.2 81.6 4,526.3 -1,476.1

2063 -6,199.6 132.4 51.9 80.5 4,606.8 -1,592.8

2064 -6,397.1 131.1 51.6 79.5 4,686.3 -1,710.8

2065 -6,595.0 129.7 51.3 78.4 4,764.7 -1,830.3

2066 -6,793.3 128.4 51.0 77.3 4,842.1 -1,951.2

2067 -6,992.1 127.1 50.8 76.3 4,918.4 -2,073.7

2068 -7,191.4 125.8 50.5 75.3 4,993.7 -2,197.7

2069 -7,391.0 124.5 50.2 74.3 5,068.0 -2,323.1

2070 -7,591.0 123.3 50.0 73.3 5,141.3 -2,449.8

2071 -7,791.2 122.1 49.7 72.4 5,213.6 -2,577.5

2072 -7,991.1 120.8 49.4 71.5 5,285.1 -2,705.9

2073 -8,190.5 119.6 49.1 70.6 5,355.7 -2,834.8

2074 -8,389.1 118.4 48.7 69.7 5,425.4 -2,963.8

2075 -8,586.7 117.2 48.4 68.8 5,494.2 -3,092.4

2076 -8,782.6 116.1 48.0 68.0 5,562.3 -3,220.4

2077 -8,976.7 114.9 47.6 67.2 5,629.5 -3,347.2

2078 -9,168.8 113.7 47.2 66.5 5,696.0 -3,472.8

2079 -9,358.6 112.6 46.8 65.8 5,761.8 -3,596.8

2080 -9,546.2 111.4 46.4 65.1 5,826.8 -3,719.3

2081 -9,731.8 110.3 46.0 64.4 5,891.2 -3,840.6

2082 -9,915.6 109.2 45.5 63.7 5,954.8 -3,960.8

2083 -10,098.0 108.1 45.1 63.0 6,017.8 -4,080.2

2084 -10,279.3 107.0 44.7 62.3 6,080.1 -4,199.2

2085 -10,459.9 105.9 44.3 61.6 6,141.7 -4,318.2

2086 -10,639.8 104.8 43.9 60.9 6,202.6 -4,437.3

2087 -10,819.4 103.7 43.5 60.2 6,262.8 -4,556.7

2088 -10,998.8 102.6 43.1 59.5 6,322.3 -4,676.5

2089 -11,177.9 101.6 42.7 58.8 6,381.1 -4,796.8

2090 -11,356.8 100.5 42.4 58.1 6,439.2 -4,917.6

Total 2016-2090 9,867.6 3,428.4 6,439.2

Based on Intermediate Assumptions of the 2016 Trustees Report. Office of the Chief Actuary

Social Security Administration

Ultimate Real Trust Fund Yield of 2.7%. June 8, 2017

(Billions of Dollars, Present Value on 1-1-2016)