Year Cost Rate

Income 

Rate

Annual 

Balance

Proposed 

Plan

Present 

Law

2008 11.20 12.77 1.57 359 5,567 5,567 0.0%

2009 11.17 12.80 1.63 369 5,907 5,859 0.8%

2010 11.18 12.82 1.64 379 6,258 6,155 1.7%

2011 11.26 12.83 1.58 389 6,607 6,449 2.4%

2012 11.38 12.85 1.47 397 6,969 6,746 3.3%

2013 11.55 12.88 1.33 402 7,350 7,055 4.2%

2014 11.73 12.89 1.17 407 7,745 7,373 5.1%

2015 11.92 12.91 0.99 410 8,152 7,701 5.9%

2016 12.11 12.93 0.82 412 8,582 8,039 6.8%

2017 12.30 12.94 0.64 413 9,030 8,390 7.6%

2018 12.48 12.96 0.48 413 9,499 8,759 8.4%

2019 12.76 12.98 0.22 412 9,915 9,142 8.5%

2020 13.03 12.99 -0.04 410 10,347 9,539 8.5%

2021 13.29 13.01 -0.28 407 10,796 9,952 8.5%

2022 13.54 13.03 -0.51 402 11,262 10,381 8.5%

2023 13.78 13.04 -0.73 397 11,747 10,827 8.5%

2024 14.00 13.06 -0.95 391 12,254 11,293 8.5%

2025 14.22 13.07 -1.15 384 12,780 11,777 8.5%

2026 14.42 13.08 -1.34 376 13,331 12,284 8.5%

2027 14.62 13.10 -1.52 367 13,903 12,810 8.5%

2028 14.80 13.11 -1.69 358 14,501 13,360 8.5%

2029 14.97 13.12 -1.85 347 15,128 13,937 8.6%

2030 15.11 13.13 -1.98 337 15,784 14,539 8.6%

2031 15.24 13.14 -2.10 326 16,472 15,172 8.6%

2032 15.34 13.15 -2.19 314 17,191 15,833 8.6%

2033 15.42 13.15 -2.27 303 17,948 16,528 8.6%

2034 15.47 13.16 -2.31 291 18,740 17,257 8.6%

2035 15.51 13.16 -2.34 279 19,567 18,017 8.6%

2036 15.53 13.17 -2.37 268 20,429 18,810 8.6%

2037 15.54 13.17 -2.37 256 21,332 19,640 8.6%

2038 15.53 13.17 -2.36 244 22,278 20,509 8.6%

2039 15.51 13.17 -2.34 233 23,269 21,420 8.6%

2040 15.48 13.17 -2.31 221 24,306 22,373 8.6%

2041 15.44 13.17 -2.27 210 25,388 23,368 8.6%

2042 15.40 13.17 -2.24 198 26,519 24,408 8.7%

2043 15.37 13.17 -2.20 187 27,701 25,494 8.7%

2044 15.33 13.16 -2.16 175 28,937 26,630 8.7%

2045 15.30 13.16 -2.13 164 30,224 27,812 8.7%

2046 15.27 13.16 -2.10 153 31,564 29,043 8.7%

2047 15.24 13.16 -2.08 141 32,960 30,327 8.7%

2048 15.22 13.16 -2.06 130 34,418 31,666 8.7%

2049 15.21 13.16 -2.05 118 35,938 33,062 8.7%

2050 15.20 13.16 -2.04 106 37,520 34,514 8.7%

2051 15.20 13.16 -2.03 94 39,167 36,028 8.7%

2052 15.20 13.16 -2.04 82 40,892 37,612 8.7%

2053 15.21 13.16 -2.04 70 42,694 39,267 8.7%

2054 15.22 13.17 -2.05 58 44,573 40,993 8.7%

2055 15.23 13.17 -2.07 45 46,534 42,793 8.7%

2056 15.26 13.17 -2.09 32 48,574 44,666 8.7%

2057 15.28 13.17 -2.11 19 50,707 46,625 8.8%

2058 15.30 13.17 -2.13 6 52,935 48,670 8.8%

2059 15.32 13.17 -2.15 ---- 55,266 50,809 8.8%

2060 15.34 13.18 -2.17 ---- 57,694 53,039 8.8%

2061 15.36 13.18 -2.19 ---- 60,227 55,363 8.8%

2062 15.39 13.18 -2.21 ---- 62,876 57,794 8.8%

2063 15.41 13.18 -2.23 ---- 65,640 60,331 8.8%

2064 15.43 13.18 -2.25 ---- 68,528 62,981 8.8%

2065 15.46 13.18 -2.27 ---- 71,541 65,746 8.8%

Detailed Single Year Tables

Category of Change: Level of OASDI Contribution and Benefit Base

Proposed Provision: Make 90 percent of the earnings subject to the payroll tax (phased in 2009-2018), 

but retain the current-law taxable maximum for benefit purposes. This estimate considers all selfemployed earnings in computing the percentage of earnings subject to the payroll tax.

OASDI Taxable Payroll 

(in billions of dollars)

Increase in 

Taxable 

Payroll over 

Present Law

Expressed as a percentage of taxable payrol Trust Fund 

Ratio 

1-1-year
2066 15.49 13.19 -2.30 ---- 74,681 68,626 8.8%

2067 15.52 13.19 -2.33 ---- 77,960 71,635 8.8%

2068 15.54 13.19 -2.35 ---- 81,386 74,778 8.8%

2069 15.57 13.19 -2.38 ---- 84,956 78,052 8.8%

2070 15.61 13.19 -2.41 ---- 88,671 81,460 8.9%

2071 15.64 13.20 -2.44 ---- 92,546 85,014 8.9%

2072 15.67 13.20 -2.48 ---- 96,602 88,734 8.9%

2073 15.71 13.20 -2.51 ---- 100,832 92,613 8.9%

2074 15.74 13.20 -2.54 ---- 105,240 96,656 8.9%

2075 15.78 13.20 -2.58 ---- 109,842 100,875 8.9%

2076 15.82 13.21 -2.61 ---- 114,634 105,268 8.9%

2077 15.86 13.21 -2.65 ---- 119,635 109,853 8.9%

2078 15.90 13.21 -2.68 ---- 124,841 114,625 8.9%

2079 15.94 13.21 -2.72 ---- 130,273 119,604 8.9%

2080 15.98 13.22 -2.76 ---- 135,935 124,794 8.9%

2081 16.02 13.22 -2.80 ---- 141,847 130,212 8.9%

2082 16.06 13.22 -2.84 ---- 148,012 135,862 8.9%

2083 16.10 13.22 -2.88 ---- 154,444 141,756 9.0%

2084 16.14 13.23 -2.92 ---- 161,162 147,912 9.0%

2085 16.18 13.23 -2.95 ---- 168,188 154,350 9.0%

Summarized Rates: OASDI

2008 Cost Rate Income Rate

Actuarial 

Balance

-2082 14.51% 13.82% -0.69% 1.01%

Office of the Chief Actuary, Social Security

Estimates based on Intermediate Assumptions of the 2008 Trustees Report

Change in 

Actuarial Balance

July 18, 2008