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

15.70 13.14 -2.57 113 0.15 0.01 -0.14

15.87 13.17 -2.70 94 0.15 0.01 -0.15

16.03 13.19 -2.84 76 0.16 0.01 -0.15

16.17 13.22 -2.94 57 0.16 0.01 -0.15

16.31 13.25 -3.06 39 0.17 0.01 -0.16

16.44 13.26 -3.18 20 0.17 0.01 -0.16

16.56 13.27 -3.29 1 0.17 0.01 -0.16

16.66 13.28 -3.38 ---- 0.18 0.01 -0.17

16.74 13.29 -3.45 ---- 0.18 0.01 -0.17

16.82 13.29 -3.53 ---- 0.19 0.01 -0.18

16.89 13.30 -3.59 ---- 0.19 0.01 -0.18

16.94 13.30 -3.64 ---- 0.19 0.01 -0.18

16.98 13.31 -3.67 ---- 0.20 0.01 -0.19

17.01 13.31 -3.69 ---- 0.20 0.01 -0.19

17.02 13.31 -3.71 ---- 0.20 0.01 -0.19

17.04 13.32 -3.72 ---- 0.21 0.01 -0.19

17.06 13.32 -3.74 ---- 0.21 0.01 -0.20

17.08 13.32 -3.75 ---- 0.21 0.01 -0.20

17.10 13.32 -3.77 ---- 0.22 0.01 -0.20

17.12 13.33 -3.80 ---- 0.22 0.01 -0.21

17.15 13.33 -3.82 ---- 0.22 0.01 -0.21

17.18 13.33 -3.85 ---- 0.22 0.01 -0.21

17.21 13.33 -3.88 ---- 0.23 0.01 -0.21

17.25 13.34 -3.91 ---- 0.23 0.01 -0.22

17.29 13.34 -3.95 ---- 0.23 0.01 -0.22

17.34 13.35 -4.00 ---- 0.24 0.01 -0.22

17.40 13.35 -4.05 ---- 0.24 0.01 -0.22

17.47 13.36 -4.12 ---- 0.24 0.01 -0.23

17.55 13.36 -4.19 ---- 0.25 0.02 -0.23

17.63 13.37 -4.26 ---- 0.25 0.02 -0.24

17.71 13.38 -4.34 ---- 0.25 0.02 -0.24

17.80 13.38 -4.41 ---- 0.26 0.02 -0.24

17.88 13.39 -4.49 ---- 0.26 0.02 -0.25

17.96 13.40 -4.56 ---- 0.27 0.02 -0.25

18.03 13.40 -4.63 ---- 0.27 0.02 -0.25

18.10 13.41 -4.69 ---- 0.27 0.02 -0.26

18.16 13.41 -4.75 ---- 0.28 0.02 -0.26

18.22 13.42 -4.80 ---- 0.28 0.02 -0.26

18.28 13.42 -4.86 ---- 0.28 0.02 -0.26

18.34 13.43 -4.91 ---- 0.28 0.02 -0.26

18.39 13.43 -4.96 ---- 0.28 0.02 -0.26

18.45 13.44 -5.02 ---- 0.28 0.02 -0.26

18.51 13.44 -5.07 ---- 0.28 0.02 -0.26

18.56 13.44 -5.12 ---- 0.28 0.02 -0.26

18.61 13.45 -5.17 ---- 0.28 0.02 -0.26

18.66 13.45 -5.21 ---- 0.28 0.02 -0.26

18.71 13.46 -5.25 ---- 0.28 0.02 -0.26

18.75 13.46 -5.29 ---- 0.28 0.02 -0.26

18.77 13.46 -5.31 ---- 0.28 0.02 -0.26

18.78 13.46 -5.32 ---- 0.28 0.02 -0.26

18.79 13.47 -5.32 ---- 0.28 0.02 -0.26

18.77 13.47 -5.31 ---- 0.28 0.02 -0.26

18.75 13.46 -5.28 ---- 0.28 0.02 -0.26

18.71 13.46 -5.25 ---- 0.28 0.02 -0.26

18.67 13.46 -5.21 ---- 0.28 0.02 -0.26

18.62 13.46 -5.17 ---- 0.28 0.02 -0.26

18.57 13.45 -5.11 ---- 0.28 0.02 -0.26

18.50 13.45 -5.05 ---- 0.28 0.02 -0.26

18.43 13.45 -4.99 ---- 0.27 0.02 -0.26

18.36 13.44 -4.92 ---- 0.27 0.02 -0.25

18.29 13.44 -4.85 ---- 0.27 0.02 -0.25

18.22 13.43 -4.79 ---- 0.27 0.02 -0.25

18.16 13.43 -4.73 ---- 0.27 0.02 -0.25

18.10 13.43 -4.68 ---- 0.26 0.02 -0.25

18.06 13.42 -4.64 ---- 0.26 0.02 -0.25

18.03 13.42 -4.61 ---- 0.26 0.02 -0.24

18.01 13.42 -4.59 ---- 0.26 0.02 -0.24

18.00 13.42 -4.58 ---- 0.26 0.02 -0.24

18.00 13.42 -4.58 ---- 0.26 0.02 -0.24

18.01 13.42 -4.59 ---- 0.26 0.02 -0.24

18.03 13.42 -4.61 ---- 0.26 0.02 -0.24

Cost Rate Income Rate

Actuarial 

Balance Cost Rate Income Rate

Actuarial 

Balance

17.61% 13.79% -3.81% 2034 0.22% 0.01% -0.21%

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: B5.8. Beginning in 2028, create a Basic Minimum Benefit (BMB) within Social Security (i.e., the 

cost of the BMB would be charged as a cost to the OASI Trust Fund), with the following specifications: (1) Eligibility 

for the BMB would be limited to OASI beneficiaries who have attained normal retirement age (NRA) or above. OASI 

beneficiaries under NRA would not be eligible for the BMB. (2) The BMB would be calculated on a household basis 

and split equally between members of the household. In the case of a married couple, both spouses would need to 

claim any Social Security benefits for which they are eligible before they could receive the BMB. If both spouses have 

claimed and one is NRA or above and the other has not yet attained NRA, only the half of the BMB for the spouse over 

NRA would be payable. (3) The BMB amount for single beneficiaries would be equal to either: 1) the BMB base ($604 

in 2015) - 0.70 * current monthly OASI benefit (not including any BMB), if positive; or 2) zero. (4) The BMB amount for 

married beneficiaries would be equal to either: 1) the BMB base ($906 in 2015) - 0.70 * total household monthly OASI 

benefits (not including any BMB), if positive; or 2) zero. (5) The BMB bases for singles and couples would be updated 

annually for changes in the average wage index (AWI). (6) Single filers with Adjusted Gross Income (AGI) over $30,000 

and joint filers with AGI (including taxable SS benefits) over $45,000 would be subject to clawback of the BMB through 

the income tax system. Any BMB would be reduced by one dollar for every dollar of income above the thresholds. 

(Thresholds, in 2015 dollars, would be indexed to chained CPI-U.) Clawbacks would be credited back to the OASI Trust 

Fund.

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