Cost Rate

Income 

Rate

Annual 

Balance Cost Rate

Income 

Rate

Annual 

Balance

14.53 13.29 -1.24 204 0.00 0.00 0.00

14.87 12.89 -1.98 187 0.00 0.00 0.00

15.04 12.97 -2.07 168 0.00 0.00 0.00

15.24 13.08 -2.15 149 0.00 0.00 -0.00

15.39 13.09 -2.29 131 0.00 0.00 -0.00

15.56 13.13 -2.43 114 0.01 0.00 -0.01

15.73 13.16 -2.57 96 0.01 0.00 -0.01

15.88 13.19 -2.70 78 0.01 0.00 -0.01

16.02 13.21 -2.80 60 0.01 0.00 -0.01

16.16 13.24 -2.92 43 0.02 0.00 -0.01

16.29 13.25 -3.04 25 0.02 0.00 -0.02

16.40 13.26 -3.14 6 0.02 0.00 -0.02

16.50 13.27 -3.23 ---- 0.02 0.00 -0.02

16.58 13.28 -3.31 ---- 0.03 0.00 -0.02

16.66 13.28 -3.38 ---- 0.03 0.00 -0.03

16.73 13.29 -3.44 ---- 0.03 0.00 -0.03

16.78 13.29 -3.48 ---- 0.03 0.00 -0.03

16.81 13.30 -3.52 ---- 0.03 0.00 -0.03

16.84 13.30 -3.54 ---- 0.03 0.00 -0.03

16.85 13.30 -3.55 ---- 0.04 0.00 -0.03

16.87 13.31 -3.56 ---- 0.04 0.00 -0.03

16.88 13.31 -3.58 ---- 0.04 0.00 -0.04

16.90 13.31 -3.59 ---- 0.04 0.00 -0.04

16.92 13.31 -3.61 ---- 0.04 0.00 -0.04

16.94 13.31 -3.63 ---- 0.04 0.00 -0.04

16.97 13.32 -3.65 ---- 0.04 0.00 -0.04

17.00 13.32 -3.68 ---- 0.04 0.00 -0.04

17.03 13.32 -3.71 ---- 0.04 0.00 -0.04

17.06 13.33 -3.73 ---- 0.04 0.00 -0.04

17.10 13.33 -3.77 ---- 0.04 0.00 -0.04

17.15 13.33 -3.82 ---- 0.04 0.00 -0.04

17.21 13.34 -3.87 ---- 0.04 0.00 -0.04

17.27 13.34 -3.93 ---- 0.04 0.00 -0.04

17.34 13.35 -3.99 ---- 0.04 0.00 -0.04

17.42 13.36 -4.06 ---- 0.04 0.00 -0.04

17.50 13.36 -4.14 ---- 0.04 0.00 -0.04

17.58 13.37 -4.21 ---- 0.04 0.00 -0.04

17.66 13.38 -4.28 ---- 0.04 0.00 -0.04

17.73 13.38 -4.35 ---- 0.04 0.00 -0.04

17.80 13.39 -4.41 ---- 0.04 0.00 -0.03

17.86 13.39 -4.47 ---- 0.04 0.00 -0.03

17.92 13.40 -4.52 ---- 0.03 0.00 -0.03

17.98 13.40 -4.58 ---- 0.03 0.00 -0.03

18.04 13.41 -4.63 ---- 0.03 0.00 -0.03

18.09 13.41 -4.68 ---- 0.03 0.00 -0.03

18.15 13.42 -4.73 ---- 0.03 0.00 -0.03

18.20 13.42 -4.78 ---- 0.03 0.00 -0.03

18.26 13.42 -4.83 ---- 0.03 0.00 -0.03

18.31 13.43 -4.88 ---- 0.03 0.00 -0.02

18.36 13.43 -4.93 ---- 0.03 0.00 -0.02

18.41 13.44 -4.97 ---- 0.02 0.00 -0.02

18.45 13.44 -5.01 ---- 0.02 0.00 -0.02

18.49 13.44 -5.04 ---- 0.02 0.00 -0.02

18.51 13.45 -5.06 ---- 0.02 0.00 -0.02

18.52 13.45 -5.07 ---- 0.02 0.00 -0.02

18.52 13.45 -5.07 ---- 0.02 0.00 -0.02

18.51 13.45 -5.06 ---- 0.02 0.00 -0.02

18.48 13.45 -5.04 ---- 0.02 0.00 -0.02

18.45 13.45 -5.00 ---- 0.02 0.00 -0.01

18.41 13.44 -4.96 ---- 0.01 0.00 -0.01

18.36 13.44 -4.92 ---- 0.01 0.00 -0.01

18.30 13.44 -4.86 ---- 0.01 0.00 -0.01

18.24 13.43 -4.80 ---- 0.01 0.00 -0.01

18.17 13.43 -4.74 ---- 0.01 0.00 -0.01

18.10 13.43 -4.67 ---- 0.01 0.00 -0.01

18.03 13.42 -4.61 ---- 0.01 0.00 -0.01

17.96 13.42 -4.55 ---- 0.01 0.00 -0.01

17.90 13.41 -4.49 ---- 0.01 0.00 -0.01

17.85 13.41 -4.44 ---- 0.01 0.00 -0.01

17.81 13.41 -4.40 ---- 0.01 0.00 -0.01

17.78 13.41 -4.37 ---- 0.01 0.00 -0.01

17.76 13.40 -4.36 ---- 0.01 0.00 -0.01

17.75 13.40 -4.35 ---- 0.01 0.00 -0.01

17.75 13.40 -4.35 ---- 0.01 0.00 -0.01

17.76 13.41 -4.35 ---- 0.01 0.00 -0.01

17.78 13.41 -4.37 ---- 0.00 0.00 -0.00

Cost Rate Income Rate

Actuarial 

Balance Cost Rate Income Rate

Actuarial 

Balance

17.41% 13.78% -3.63% 2034 0.02% 0.00% -0.02%

1

Office of the Chief Actuary

Social Security Administration

September 15, 2023

Year of reserve 

depletion1

Summarized Estimates: Change from Current Law

2023

-2097

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

Estimates based on Intermediate Assumptions of the 2023 Trustees Report

Summarized Estimates: Proposal

2095

2096

2097

2098

2094

2083

2084

2085

2086

2087

2088

2089

2090

2091

2092

2093

2082

2071

2072

2073

2074

2075

2076

2077

2078

2079

2080

2081

2070

2059

2060

2061

2062

2063

2064

2065

2066

2067

2068

2069

2058

2047

2048

2049

2050

2051

2052

2053

2054

2055

2056

2057

2046

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2034

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

Detailed Single Year Tables

Category of Change: Level of Monthly Benefits

Proposal Change from Current Law

Proposed Provision: B5.7. Beginning for those newly eligible in 2026, reconfigure the special minimum benefit: (a) The 

number of years of work (YOWs) is determined as total quarters of coverage divided by 4, ignoring any fraction. Childcare 

years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for 

30+ YOWs equal to 100 percent of the monthly HHS poverty level for the year prior to eligibility. For workers between 11 

and 29 YOWs, reduce the special minimum by 3 1/3 percentage points per YOW so that at 29 YOWs the minimum would 

be 96 2/3% of poverty, ..., down to 11 YOWs at 36 2/3% of poverty. No minimum for 10 or fewer YOWs.

Expressed as a percentage of

current-law taxable payroll Trust Fund 

Ratio 

1-1-year

Expressed as a percentage of

current-law taxable payroll

Year