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

15.23 13.08 -2.15 149 0.00 0.00 0.00

15.38 13.09 -2.29 131 0.00 0.00 0.00

15.55 13.13 -2.42 114 0.00 0.00 0.00

15.72 13.16 -2.56 96 0.00 0.00 0.00

15.90 13.19 -2.72 78 0.03 0.00 -0.03

16.07 13.22 -2.85 60 0.06 0.00 -0.06

16.24 13.24 -3.00 42 0.09 0.01 -0.09

16.39 13.26 -3.13 24 0.12 0.01 -0.11

16.53 13.27 -3.26 5 0.15 0.01 -0.14

16.65 13.28 -3.37 ---- 0.17 0.01 -0.16

16.75 13.29 -3.46 ---- 0.19 0.01 -0.18

16.85 13.29 -3.56 ---- 0.21 0.01 -0.20

16.93 13.30 -3.63 ---- 0.23 0.01 -0.22

17.00 13.31 -3.69 ---- 0.25 0.01 -0.24

17.04 13.31 -3.73 ---- 0.26 0.01 -0.24

17.06 13.31 -3.75 ---- 0.26 0.02 -0.24

17.08 13.32 -3.76 ---- 0.26 0.02 -0.25

17.10 13.32 -3.78 ---- 0.27 0.02 -0.25

17.11 13.32 -3.79 ---- 0.27 0.02 -0.25

17.13 13.32 -3.81 ---- 0.27 0.02 -0.25

17.15 13.33 -3.83 ---- 0.27 0.02 -0.26

17.18 13.33 -3.85 ---- 0.27 0.02 -0.26

17.20 13.33 -3.87 ---- 0.27 0.02 -0.26

17.23 13.33 -3.90 ---- 0.27 0.02 -0.26

17.26 13.34 -3.92 ---- 0.27 0.02 -0.26

17.29 13.34 -3.95 ---- 0.27 0.02 -0.26

17.33 13.34 -3.99 ---- 0.27 0.02 -0.26

17.38 13.35 -4.03 ---- 0.27 0.02 -0.26

17.44 13.35 -4.08 ---- 0.27 0.02 -0.26

17.50 13.36 -4.14 ---- 0.27 0.02 -0.25

17.57 13.36 -4.21 ---- 0.27 0.02 -0.25

17.65 13.37 -4.28 ---- 0.27 0.02 -0.25

17.73 13.38 -4.35 ---- 0.27 0.02 -0.25

17.81 13.38 -4.43 ---- 0.27 0.02 -0.26

17.89 13.39 -4.50 ---- 0.27 0.02 -0.26

17.97 13.40 -4.57 ---- 0.27 0.02 -0.26

18.04 13.40 -4.64 ---- 0.28 0.02 -0.26

18.10 13.41 -4.70 ---- 0.28 0.02 -0.26

18.17 13.41 -4.75 ---- 0.28 0.02 -0.27

18.23 13.42 -4.81 ---- 0.29 0.02 -0.27

18.29 13.42 -4.87 ---- 0.29 0.02 -0.27

18.35 13.43 -4.92 ---- 0.29 0.02 -0.27

18.41 13.43 -4.98 ---- 0.30 0.02 -0.28

18.47 13.44 -5.04 ---- 0.30 0.02 -0.28

18.53 13.44 -5.09 ---- 0.30 0.02 -0.28

18.59 13.45 -5.14 ---- 0.31 0.02 -0.29

18.64 13.45 -5.19 ---- 0.31 0.02 -0.29

18.70 13.45 -5.24 ---- 0.31 0.02 -0.29

18.74 13.46 -5.28 ---- 0.31 0.02 -0.30

18.78 13.46 -5.32 ---- 0.32 0.02 -0.30

18.81 13.46 -5.34 ---- 0.32 0.02 -0.30

18.82 13.47 -5.36 ---- 0.32 0.02 -0.30

18.83 13.47 -5.36 ---- 0.32 0.02 -0.30

18.82 13.47 -5.35 ---- 0.33 0.02 -0.31

18.79 13.47 -5.33 ---- 0.33 0.02 -0.31

18.76 13.46 -5.30 ---- 0.33 0.02 -0.31

18.72 13.46 -5.26 ---- 0.33 0.02 -0.31

18.67 13.46 -5.21 ---- 0.33 0.02 -0.31

18.62 13.46 -5.16 ---- 0.33 0.02 -0.31

18.56 13.45 -5.10 ---- 0.33 0.02 -0.31

18.49 13.45 -5.04 ---- 0.33 0.02 -0.31

18.42 13.45 -4.98 ---- 0.33 0.02 -0.31

18.35 13.44 -4.91 ---- 0.33 0.02 -0.31

18.29 13.44 -4.85 ---- 0.33 0.02 -0.31

18.23 13.43 -4.79 ---- 0.33 0.02 -0.31

18.17 13.43 -4.75 ---- 0.33 0.02 -0.31

18.13 13.43 -4.71 ---- 0.33 0.02 -0.31

18.10 13.43 -4.68 ---- 0.33 0.02 -0.31

18.09 13.42 -4.66 ---- 0.33 0.02 -0.31

18.08 13.42 -4.65 ---- 0.33 0.02 -0.31

18.07 13.42 -4.65 ---- 0.33 0.02 -0.31

18.08 13.42 -4.66 ---- 0.33 0.02 -0.31

18.10 13.43 -4.67 ---- 0.33 0.02 -0.31

Cost Rate Income Rate

Actuarial 

Balance Cost Rate Income Rate

Actuarial 

Balance

17.63% 13.79% -3.84% 2034 0.24% 0.01% -0.23%

1

Office of the Chief Actuary

Social Security Administration

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

Detailed Single Year Tables

Category of Change: Level of Monthly Benefits

Proposal Change from Current Law

Proposed Provision: B6.6. Starting in 2030, provide a uniform PIA increase in the 24th year of benefit eligibility. Phase in 

the PIA increase at 0.5 percent per year from the 15th through the 24th years of eligibility. The full PIA increase is equal to 

5 percent of the average retired worker PIA in December of the 14th year of benefit eligibility. A similar additional PIA 

increase applies in the 43rd year of benefit eligibility (age 104), phased in from the 34th through the 43rd years of 

eligibility. For those past the 15th year of eligibility in 2029 (over age 76 for retirees), phase in the PIA enhancement over 

10 years starting in 2030. Auxiliary beneficiaries receive benefit enhancement based on the PIA of the governing worker.

2034

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

2033

2046

2035

2036

2037

2038

2039

2040

2041

2042

2043

2044

2045

2058

2047

2048

2049

2050

2051

2052

2053

2054

2055

2056

2057

2070

2059

2060

2061

2062

2063

2064

2065

2066

2067

2068

2069

2082

2071

2072

2073

2074

2075

2076

2077

2078

2079

2080

2081

2094

2083

2084

2085

2086

2087

2088

2089

2090

2091

2092

2093

2095

2096

2097

2098

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