SOCIAL SECURITY ADMINISTRATION BALTIMORE, MD 21235-0001

SOCIAL SECURITY

Office of the Chief Actuary

March 14, 2019

The Honorable Mike Lee

United States Senate

Washington, D.C. 20510

The Honorable Joni Ernst

United States Senate

Washington, D.C. 20510

Dear Senator Lee and Senator Ernst:

This letter is in response to your request for our estimates of the financial effects on the Social 

Security (OASDI) program assuming enactment of the “Child Rearing and Development Leave 

Empowerment Act” or “CRADLE Act”, which you released publicly as a discussion draft on 

March 13. We have enjoyed working with Mimi Teixeira and Christy Woodruff of your staff in 

the development of this proposal. These estimates provided here reflect the combined effort of 

many in the Office of the Chief Actuary, but particularly Karen Glenn, Chris Chaplain, Kyle 

Burkhalter, Daniel Nickerson, Anna Kirjusina, and Jacqueline Walsh.

This proposal would allow eligible parents to receive parental leave benefits based on births and 

adoptions in years 2021 through 2025. The basic monthly parental leave benefit would be equal 

to the primary insurance amount (PIA) as determined for the parent based on earnings prior to 

application for the parental leave payment, as if the parent had become disabled on that date

(without regard to satisfying the insured requirements for a Social Security disabled worker 

benefit). Those who elect to receive parental leave benefits for a specified number of months 

(30-calendar-day periods) would have their normal retirement age (NRA) and their earliest 

eligibility ages (EEA) increased by twice the specified number of months of parental leave 

benefit received. The balance of this letter provides further description of our understanding of 

the intent of these provisions, and our estimates of the effects on the financial status of the 

OASDI program and the effects on the federal budget.

To qualify for a parental leave benefit, the parent must have earned either (1) four quarters of 

coverage (QCs as defined for Social Security insured status) in the four-quarter period

immediately prior to application for a parental leave benefit, (2) five QCs during the 6-quarter 

period immediately prior to application, or (3) 20 QCs total at any time prior to application.

Because earnings are reported on an annual basis, we have assumed that the requirements in (1) 

or (2) would be met in practice if the parent earned the indicated number of QCs in total during 

the year of birth/adoption and the prior year. Parents must also be the legal guardian of the child 
Page 2 – The Honorable Mike Lee and the Honorable Joni Ernst

and must have the same principal place of abode as the child for more than half of the taxable 

year in order to qualify. The benefit period is specified to (1) start within the three-month period 

(90 calendar days) subsequent to birth or adoption of the child, (2) include only consecutive

days, and (3) last for no more than three months (90 days). Both parents can receive the parental 

leave benefit at the same time or for different periods, subject to these three specifications. 

Under this proposal, qualifying parents must take leave from work to receive a parental leave 

benefit. The benefit amount will be reduced for any month if the total of the parental leave 

benefit, plus any paid family/medical leave benefit provided by the parent’s employer or by a 

State or other political subdivision, exceeds the individual’s average indexed monthly earnings 

(AIME) used for the computation of the parental leave PIA. For example, if a parent had AIME 

of $2,000, a parental leave PIA of $900, and employer-paid family leave of $1,500 for a given 

month, then the parental leave benefit would be limited to $500 so that the total of the parental 

leave benefit and the employer-paid benefit does not exceed $2,000 for the month. We expect

that parents whose parental leave benefits would be reduced in this manner would generally not 

elect to receive a parental leave benefit at all, because their NRA would still increase by a full 2 

months for each month of parental leave benefit received, as explained below.

Eligible parents who elect to receive a parental leave benefit would have their NRA increased by 

twice the number of months of parental leave benefits received. For example, a parent who 

receives a parental leave benefit for two months (for 60 consecutive days) would have their NRA 

increased by four months. The parent’s NRA would increase by the full 2 months for each month 

of parental leave benefit received, even if the amount was reduced below the full PIA by the 

AIME limit described in the preceding paragraph.

The individual’s EEA (currently age 62 for retired worker benefits and aged spouse benefits, age 

60 for aged surviving spouse benefits and aged surviving divorced spouse benefits, and age 50 

for disabled surviving spouse benefits) and age at which their maximum Social Security 

retirement benefit is available (currently age 70 for retired worker beneficiaries) would all be 

increased by the same number of months as the NRA. However, the insured status requirements 

for OASDI benefits and the method of computing the PIA would not be affected; that is, the PIA 

would be computed as if the EEA for the retired worker were still age 62. Only one payment 

would be available in the event of multiple births (twins, for example). However, multiple 

parental leave benefits may be received if more than one child is born or adopted at different 

times during the period 2021 through 2025.

Under the proposal, the General Fund of the Treasury will transfer to the OASI Trust Fund at the 

beginning of each calendar year an amount equal to (a) the total amount of parental leave 

benefits paid from the OASI Trust Fund during the preceding calendar year, plus (b) 

administrative expenses incurred in carrying out the provisions of the proposal, less (c) the 

amount by which OASDI benefits were reduced as a result of increased NRA/EEA due to this

proposal during the preceding calendar year. If this difference is negative, then the OASI Trust 

Fund is obligated to transfer the difference to the General Fund of the Treasury. The cost of and 

reimbursement of administrative expenses for the proposal are not included in the estimates 

provided in this letter. Our estimates reflect only the cost of the parental leave benefits and the 
Page 3 – The Honorable Mike Lee and the Honorable Joni Ernst

subsequent reductions in OASDI benefits, both for changes in direct expenditures from the Trust 

Funds and from any reimbursements to the General Fund of the Treasury.

We estimate that, if enacted, this proposal would have a negligible effect on the long-range 

OASDI actuarial balance (that is, less than 0.005 percent of taxable payroll). In early years

(through 2025), when parental leave benefits would be paid but few eligible parents would have 

experienced the effects of delayed NRA/EEA on their OASDI benefits, the General Fund of the 

Treasury would make significant transfers to the OASI Trust Fund. In years after 2025, when 

under this proposal no parental leave benefits would be paid, the OASI Trust Fund would 

transfer significant amounts to the General Fund. For the purpose of the estimates provided in 

this letter, particularly estimates of the effects on the federal budget, we are not reflecting the 

intent to offset the cost to the general fund for parental leave benefits and the associated 

administrative expenses by way of reductions in other federal spending. However, it should be 

noted that the intent is for the overall effect of the proposal on the unified budget to be 

negligible, given other offsetting changes in the federal budget.

Table 1, enclosed, presents annual and 75-year-summarized cost rates, income rates, balances, 

and changes in annual cost and income rates and balances for the OASDI program under 

enactment of the proposal. For years through 2025, the transfers from the General Fund of the 

Treasury to the OASI Trust Fund as reimbursements for the parental leave payments are shown 

as increased income, equal to the cost of the parental leave benefits made in the prior year. For 

years after 2025, the OASI Trust Fund provides repayment to the General Fund for savings from 

NRA increases. These repayments are indicated as negative income, equal to the reduced cost in 

the prior year for the increased NRA. 

Table 1b shows “off-budget,” “unified budget,” and “on-budget” effects of the proposal on a 

present value basis. Amounts are discounted to January 1, 2018 using the projected Trust Fund 

interest rates. Column 1 shows the estimated annual amounts of specified General Fund transfers 

to and from the OASI Trust Fund under the proposal. On a present value basis, the total net 

transfers to OASI over the 75-year period are slightly positive (about $0.8 billion), because by 

2092 the General Fund transfers to reimburse OASI for the parental leave payments are not yet

fully offset by the later repayments from the OASI Trust Fund. Column 2 shows the annual cash 

flow off-budget effects for the combined OASI and DI Trust Funds, which are essentially zero in 

most years for this proposal because of the General Fund transfers and repayments described 

above. Columns 3 through 5 present the unified budget effects from enactment of the proposal. 

Column 4 shows that we estimate an increase in publicly held debt of $24.4 billion at the end of

2026 from the parental leave benefits. After 2026, because of the NRA increases, annual 

reductions in debt held by the public occur through the end of the projection period, and by 2092

we estimate very little net change in publicly held debt. Columns 6 through 8 represent the “onbudget” effect from enactment of the proposal. These columns show the effects of General Fund 

transfers to and from the OASI Trust Fund and are similar to those for the unified budget, but 

lagged one year for reimbursement purposes. It should again be noted that for Table 1b and 

Table 1.bn, we have not reflected the implications of reimbursements for administrative expenses 

and of changes in the federal budget to offset any net reduction in annual unified budget 

balances. Thus, the values in these tables indicate the magnitude of the other offsetting changes 

in the federal budget that would be needed. 
Page 4 – The Honorable Mike Lee and the Honorable Joni Ernst

Table 1b.n shows the same information, but in nominal dollars. In this table, we show nominal 

dollar effects through 2028. Note that estimates in Tables 1b and 1b.n are based on the baseline 

assumptions of the 2018 Trustees Report and thus differ from what would be estimated under the 

President’s Budget or the CBO baseline assumptions.

For these estimates, we have assumed that approximately 30 percent of parents with a new birth 

or adoption would be qualified for, would become eligible for, and would choose to receive a 

parental leave benefit in the affected years. We further assume that on average, the total amount 

of parental leave benefits received by parents becoming entitled will equal 225 percent of their 

PIA.

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

Sincerely, 

 Stephen C. Goss, ASA, MAAA

Chief Actuary

Enclosures
Year Cost Rate

Income

Rate

Annual

Balance Cost Rate

Income

Rate

Annual

Balance

2018 13.81 12.64 -1.17 288 0.00 0.00 0.00

2019 13.95 12.87 -1.08 272 0.00 0.00 0.00

2020 14.12 12.89 -1.23 256 0.00 0.00 0.00

2021 14.33 12.92 -1.41 238 0.06 0.00 -0.06

2022 14.50 13.01 -1.49 221 0.06 0.06 -0.00

2023 14.69 13.03 -1.66 204 0.06 0.06 -0.00

2024 14.87 13.06 -1.81 187 0.07 0.06 -0.00

2025 15.05 13.07 -1.98 170 0.07 0.06 -0.00

2026 15.16 13.19 -1.96 153 -0.00 0.06 0.06

2027 15.36 13.15 -2.21 137 -0.00 -0.00 0.00

2028 15.58 13.17 -2.41 120 -0.00 -0.00 -0.00

2029 15.79 13.19 -2.60 104 -0.00 -0.00 -0.00

2030 15.98 13.20 -2.78 86 -0.00 -0.00 0.00

2031 16.16 13.22 -2.94 69 -0.00 0.00 0.00

2032 16.32 13.23 -3.09 51 -0.00 -0.00 0.00

2033 16.45 13.24 -3.21 33 -0.00 -0.00 0.00

2034 16.57 13.25 -3.32 14 -0.00 -0.00 0.00

2035 16.65 13.25 -3.40 ---- -0.00 -0.00 0.00

2036 16.72 13.26 -3.46 ---- -0.00 -0.00 0.00

2037 16.78 13.27 -3.52 ---- -0.00 -0.00 0.00

2038 16.82 13.27 -3.55 ---- -0.00 -0.00 0.00

2039 16.83 13.27 -3.56 ---- -0.00 -0.00 0.00

2040 16.83 13.27 -3.55 ---- -0.00 -0.00 0.00

2041 16.81 13.27 -3.54 ---- -0.00 -0.00 0.00

2042 16.77 13.27 -3.50 ---- -0.00 -0.00 0.00

2043 16.73 13.27 -3.46 ---- -0.00 -0.00 0.00

2044 16.69 13.27 -3.42 ---- -0.00 -0.00 0.00

2045 16.65 13.26 -3.39 ---- -0.01 -0.00 0.00

2046 16.62 13.26 -3.36 ---- -0.01 -0.01 0.00

2047 16.59 13.26 -3.33 ---- -0.01 -0.01 0.00

2048 16.57 13.26 -3.31 ---- -0.01 -0.01 0.00

2049 16.54 13.26 -3.29 ---- -0.01 -0.01 0.00

2050 16.53 13.26 -3.27 ---- -0.01 -0.01 0.00

2051 16.52 13.26 -3.26 ---- -0.01 -0.01 0.00

2052 16.52 13.26 -3.26 ---- -0.02 -0.01 0.00

2053 16.53 13.26 -3.27 ---- -0.02 -0.02 0.00

2054 16.54 13.26 -3.29 ---- -0.02 -0.02 0.00

2055 16.57 13.26 -3.31 ---- -0.02 -0.02 0.00

2056 16.61 13.26 -3.34 ---- -0.02 -0.02 0.00

2057 16.65 13.26 -3.38 ---- -0.02 -0.02 0.00

2058 16.69 13.27 -3.42 ---- -0.02 -0.02 0.00

2059 16.74 13.27 -3.47 ---- -0.02 -0.02 0.00

2060 16.79 13.28 -3.51 ---- -0.02 -0.02 -0.00

2061 16.84 13.28 -3.56 ---- -0.02 -0.02 -0.00

2062 16.89 13.29 -3.61 ---- -0.02 -0.02 -0.00

2063 16.95 13.29 -3.66 ---- -0.02 -0.02 -0.00

2064 17.00 13.30 -3.70 ---- -0.01 -0.02 -0.00

2065 17.06 13.30 -3.76 ---- -0.01 -0.01 -0.00

2066 17.11 13.31 -3.81 ---- -0.01 -0.01 -0.00

2067 17.17 13.31 -3.86 ---- -0.01 -0.01 -0.00

2068 17.23 13.32 -3.92 ---- -0.01 -0.01 -0.00

2069 17.30 13.32 -3.97 ---- -0.01 -0.01 -0.00

2070 17.36 13.33 -4.03 ---- -0.01 -0.01 -0.00

2071 17.41 13.33 -4.08 ---- -0.01 -0.01 -0.00

2072 17.46 13.34 -4.13 ---- -0.00 -0.01 -0.00

2073 17.51 13.34 -4.17 ---- -0.00 -0.00 -0.00

2074 17.55 13.35 -4.20 ---- -0.00 -0.00 -0.00

2075 17.58 13.35 -4.24 ---- -0.00 -0.00 -0.00

2076 17.61 13.35 -4.26 ---- -0.00 -0.00 -0.00

2077 17.62 13.35 -4.27 ---- -0.00 -0.00 -0.00

2078 17.63 13.35 -4.27 ---- -0.00 -0.00 -0.00

2079 17.62 13.36 -4.26 ---- -0.00 -0.00 -0.00

2080 17.61 13.35 -4.25 ---- -0.00 -0.00 -0.00

2081 17.59 13.35 -4.23 ---- -0.00 -0.00 -0.00

2082 17.57 13.35 -4.22 ---- -0.00 -0.00 -0.00

2083 17.55 13.35 -4.20 ---- -0.00 -0.00 -0.00

2084 17.54 13.35 -4.19 ---- -0.00 -0.00 -0.00

2085 17.53 13.35 -4.18 ---- -0.00 -0.00 -0.00

2086 17.53 13.35 -4.18 ---- -0.00 -0.00 -0.00

2087 17.53 13.35 -4.18 ---- -0.00 -0.00 -0.00

2088 17.55 13.35 -4.19 ---- -0.00 -0.00 -0.00

2089 17.57 13.35 -4.22 ---- -0.00 -0.00 -0.00

2090 17.60 13.35 -4.24 ---- -0.00 -0.00 -0.00

2091 17.64 13.36 -4.28 ---- -0.00 -0.00 -0.00

2092 17.68 13.36 -4.32 ---- -0.00 -0.00 -0.00

2093 17.72 13.36 -4.36 ---- -0.00 -0.00 -0.00

Cost Rate Income Rate

Actuarial 

Balance

Change in 

Cost rate

Change in 

Income Rate

Change in 

Actuarial

Balance

16.69% 13.84% -2.84% 2034 0.00% 0.00% 0.00%

Office of the Chief Actuary

Based on Intermediate Assumptions of the 2018 Trustees Report. Social Security Administration 1 Under present law the year of combined Trust Fund reserve depletion is 2034.

Expressed as a percentage of present-law

taxable payroll Trust Fund

Ratio

1-1-year

Expressed as a percentage of present-law

taxable payroll

Table 1 - OASDI Cost Rate, Income Rate, Annual Balance, and Trust Fund Ratio

"Child Rearing and Development Leave Empowerment Act (CRADLE Act)," Proposed by Senator Mike Lee and Senator Joni Ernst

Proposal Change from Present Law

Summarized Rates: OASDI

Year of reserve 

depletion1

Summarized Rates: OASDI

2018 - 2092

March 14, 2019
Table 1b - OASDI Changes & Implications for Federal Budget and Debt of Specified Plan Provision Effects on OASDI (Present Value Dollars)

Year

Specified 

General Fund 

Transfers to 

OASDI1

Basic Changes

in OASDI

Cash Flow

Change

in Annual

Unified Budget

Cash Flow2

Change in

Debt Held

by Public at

End of Year

Change

in Annual

Unified Budget

Balance

Change

in Annual

On Budget

Cash Flow2

Change

in Total

Federal Debt

End Of Year

Change

in Annual

On Budget

Balance

(1) (2) (3) (4) (5) (6) (7) (8)

2018 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2019 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2020 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2021 0.0 -4.5 -4.5 4.5 -4.5 0.0 0.0 0.0

2022 4.5 -0.2 -4.7 9.2 -4.8 -4.5 4.5 -4.5

2023 4.7 -0.2 -4.9 14.1 -5.2 -4.7 9.2 -4.8

2024 4.9 -0.2 -5.1 19.2 -5.5 -4.9 14.1 -5.2

2025 5.1 -0.1 -5.2 24.4 -5.8 -5.1 19.2 -5.5

2026 5.2 5.2 0.0 24.4 -0.8 -5.2 24.4 -5.8

2027 -0.0 -0.0 0.0 24.4 -0.8 0.0 24.4 -0.8

2028 -0.0 -0.0 0.0 24.4 -0.9 0.0 24.4 -0.9

2029 -0.0 -0.0 0.0 24.4 -1.0 0.0 24.4 -1.0

2030 0.0 0.0 0.0 24.4 -1.1 0.0 24.4 -1.1

2031 0.0 0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2032 -0.0 -0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2033 -0.0 -0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2034 -0.0 0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2035 -0.0 0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2036 -0.0 0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2037 -0.0 0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2038 -0.0 0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2039 -0.0 0.0 0.0 24.4 -1.2 0.0 24.4 -1.2

2040 -0.0 0.0 0.0 24.3 -1.2 0.0 24.4 -1.2

2041 -0.0 0.0 0.1 24.2 -1.2 0.0 24.3 -1.2

2042 -0.1 0.0 0.1 24.1 -1.1 0.1 24.3 -1.2

2043 -0.1 0.1 0.2 23.9 -1.0 0.1 24.1 -1.1

2044 -0.2 0.1 0.3 23.6 -0.9 0.2 23.9 -1.0

2045 -0.3 0.1 0.4 23.2 -0.8 0.3 23.6 -0.9

2046 -0.4 0.1 0.5 22.8 -0.7 0.4 23.2 -0.8

2047 -0.5 0.1 0.6 22.2 -0.6 0.5 22.8 -0.7

2048 -0.6 0.1 0.7 21.5 -0.4 0.6 22.2 -0.6

2049 -0.7 0.1 0.8 20.7 -0.3 0.7 21.5 -0.4

2050 -0.8 0.1 0.9 19.8 -0.2 0.8 20.7 -0.3

2051 -0.9 0.1 0.9 18.9 -0.1 0.9 19.8 -0.2

2052 -0.9 0.1 1.0 17.9 0.0 0.9 18.9 -0.1

2053 -1.0 0.0 1.0 16.9 0.1 1.0 17.9 0.0

2054 -1.0 0.0 1.1 15.8 0.2 1.0 16.9 0.1

2055 -1.1 0.0 1.1 14.7 0.3 1.1 15.8 0.2

2056 -1.1 0.0 1.1 13.6 0.4 1.1 14.7 0.3

2057 -1.1 0.0 1.1 12.5 0.4 1.1 13.6 0.4

2058 -1.1 -0.0 1.1 11.3 0.5 1.1 12.5 0.4

2059 -1.1 -0.0 1.1 10.2 0.5 1.1 11.3 0.5

2060 -1.1 -0.0 1.1 9.2 0.5 1.1 10.2 0.5

2061 -1.1 -0.1 1.0 8.2 0.5 1.1 9.2 0.5

2062 -1.0 -0.1 1.0 7.2 0.5 1.0 8.1 0.5

2063 -1.0 -0.1 0.9 6.3 0.5 1.0 7.2 0.5

2064 -0.9 -0.1 0.8 5.5 0.5 0.9 6.3 0.5

2065 -0.8 -0.1 0.7 4.8 0.5 0.8 5.5 0.5

2066 -0.7 -0.1 0.7 4.1 0.4 0.7 4.7 0.5

2067 -0.7 -0.1 0.6 3.5 0.4 0.7 4.1 0.4

2068 -0.6 -0.1 0.5 3.0 0.3 0.6 3.5 0.4

2069 -0.5 -0.1 0.4 2.6 0.3 0.5 3.0 0.3

2070 -0.4 -0.1 0.4 2.2 0.2 0.4 2.6 0.3

2071 -0.4 -0.1 0.3 1.9 0.2 0.4 2.2 0.2

2072 -0.3 -0.1 0.3 1.7 0.2 0.3 1.9 0.2

2073 -0.3 -0.0 0.2 1.5 0.1 0.3 1.6 0.2

2074 -0.2 -0.0 0.2 1.3 0.1 0.2 1.4 0.1

2075 -0.2 -0.0 0.1 1.2 0.1 0.2 1.3 0.1

2076 -0.1 -0.0 0.1 1.1 0.0 0.1 1.2 0.1

2077 -0.1 -0.0 0.1 1.0 0.0 0.1 1.1 0.0

2078 -0.1 -0.0 0.0 1.0 -0.0 0.1 1.0 0.0

2079 -0.0 -0.0 0.0 0.9 -0.0 0.0 1.0 -0.0

2080 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2081 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2082 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2083 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2084 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2085 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2086 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2087 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2088 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2089 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.9 -0.0

2090 -0.0 -0.0 0.0 0.9 -0.0 0.0 0.8 -0.0

2091 -0.0 -0.0 0.0 0.8 -0.0 0.0 0.8 -0.0

2092 -0.0 -0.0 0.0 0.8 -0.0 0.0 0.8 -0.0

Total 2018-2092 0.8 -0.0 -0.8 -0.8

Based on Intermediate Assumptions of the 2018 Trustees Report.

Ultimate Real Trust Fund Yield of 2.7%.

Notes:

Office of the Chief Actuary

1 Reflects reimbursement to OASI Trust Fund for parental leave benefit payments and later "payback" from EEA/NRA increases. Social Security Administration 2

 Unified budget and on-budget cash flows show effect of parental leave payments and increase in EEA/NRA.

Billions of Present Value Dollars as of 1-1-2018

"Child Rearing and Development Leave Empowerment Act (CRADLE Act)," Proposed by Senator Mike Lee and Senator Joni Ernst

March 14, 2019

(1) Estimates do not reflect the implications of reimbursements for administrative expenses and of changes in the federal 

budget ("pay-fors") to offset any net reduction in annual unified budget balances.

(2) Changes reflect the budget scoring convention that presumes benefits not payable after reserve depletion would 

nonetheless be paid, based on transfers from the General Fund of the Treasury resulting in additional borrowing from the 

public.
Table 1b.n - OASDI Changes & Implications for Federal Budget and Debt of Specified Plan Provision Effects on OASDI1

 (Nominal Dollars)

Year

Specified 

General Fund 

Transfers to 

OASDI1

Basic Changes

in OASDI

Cash Flow

Change

in Annual

Unified Budget

Cash Flow2

Change in

Debt Held

by Public at

End of Year

Change

in Annual

Unified Budget

Balance

Change

in Annual

On Budget

Cash Flow2

Change

in Total

Federal Debt

End Of Year

Change

in Annual

On Budget

Balance

(1) (2) (3) (4) (5) (6) (7) (8)

2019 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2020 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

2021 0.0 -5.0 -5.0 5.0 -5.0 0.0 0.0 0.0

2022 5.0 -0.3 -5.4 10.6 -5.6 -5.0 5.2 -5.2

2023 5.4 -0.3 -5.7 16.8 -6.1 -5.4 11.0 -5.8

2024 5.8 -0.3 -6.1 23.5 -6.7 -5.8 17.3 -6.3

2025 6.2 -0.3 -6.5 30.8 -7.3 -6.2 24.3 -7.0

2026 6.6 6.6 0.0 31.8 -1.0 -6.6 31.9 -7.6

2027 0.0 0.0 0.0 32.8 -1.1 0.0 33.0 -1.1

2028 -0.0 -0.0 0.0 34.1 -1.3 0.0 34.2 -1.3

Based on Intermediate Assumptions of the 2018 Trustees Report.

Notes:

Office of the Chief Actuary 1 Reflects reimbursement to OASI Trust Fund for parental leave benefit payments and later "payback" from EEA/NRA increases. Social Security Administration 2

 Unified budget and on-budget cash flows show effect of parental leave payments and increase in EEA/NRA.

Billions of Nominal Dollars

"Child Rearing and Development Leave Empowerment Act (CRADLE Act)," Proposed by Senator Mike Lee and Senator Joni Ernst

March 14, 2019

(1) Estimates do not reflect the implications of reimbursements for administrative expenses and of changes in the federal 

budget ("pay-fors") to offset any net reduction in annual unified budget balances.

(2) Changes reflect the budget scoring convention that presumes benefits not payable after reserve depletion would 

nonetheless be paid, based on transfers from the General Fund of the Treasury resulting in additional borrowing from the 

public.