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

15.88 13.19 -2.69 78 0.01 0.00 -0.01

16.01 13.21 -2.80 60 0.01 0.00 -0.01

16.16 13.24 -2.92 43 0.01 0.00 -0.01

16.28 13.25 -3.04 25 0.02 0.00 -0.02

16.40 13.26 -3.14 7 0.02 0.00 -0.02

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

16.59 13.28 -3.31 ---- 0.03 0.00 -0.03

16.67 13.28 -3.38 ---- 0.03 0.00 -0.03

16.73 13.29 -3.44 ---- 0.04 0.00 -0.04

16.79 13.30 -3.49 ---- 0.04 0.00 -0.04

16.83 13.30 -3.53 ---- 0.05 0.00 -0.04

16.86 13.30 -3.55 ---- 0.05 0.00 -0.05

16.87 13.30 -3.57 ---- 0.06 0.00 -0.05

16.89 13.31 -3.58 ---- 0.06 0.00 -0.06

16.91 13.31 -3.60 ---- 0.07 0.00 -0.06

16.93 13.31 -3.62 ---- 0.07 0.00 -0.07

16.96 13.31 -3.64 ---- 0.07 0.00 -0.07

16.98 13.32 -3.67 ---- 0.08 0.00 -0.07

17.01 13.32 -3.69 ---- 0.08 0.00 -0.08

17.04 13.32 -3.72 ---- 0.09 0.01 -0.08

17.08 13.33 -3.75 ---- 0.09 0.01 -0.09

17.11 13.33 -3.78 ---- 0.09 0.01 -0.09

17.16 13.33 -3.82 ---- 0.10 0.01 -0.09

17.21 13.34 -3.87 ---- 0.10 0.01 -0.10

17.27 13.34 -3.92 ---- 0.10 0.01 -0.09

17.33 13.35 -3.98 ---- 0.10 0.01 -0.09

17.40 13.35 -4.05 ---- 0.10 0.01 -0.09

17.48 13.36 -4.12 ---- 0.10 0.01 -0.09

17.56 13.37 -4.19 ---- 0.10 0.01 -0.09

17.64 13.37 -4.26 ---- 0.10 0.01 -0.09

17.71 13.38 -4.33 ---- 0.09 0.01 -0.09

17.78 13.39 -4.40 ---- 0.09 0.01 -0.09

17.85 13.39 -4.46 ---- 0.09 0.01 -0.09

17.92 13.40 -4.52 ---- 0.09 0.01 -0.09

17.98 13.40 -4.58 ---- 0.09 0.01 -0.09

18.04 13.41 -4.63 ---- 0.09 0.01 -0.09

18.10 13.41 -4.69 ---- 0.09 0.01 -0.09

18.15 13.42 -4.74 ---- 0.10 0.01 -0.09

18.21 13.42 -4.79 ---- 0.10 0.01 -0.09

18.27 13.42 -4.84 ---- 0.10 0.01 -0.09

18.33 13.43 -4.90 ---- 0.10 0.01 -0.09

18.38 13.43 -4.95 ---- 0.10 0.01 -0.09

18.43 13.44 -4.99 ---- 0.10 0.01 -0.09

18.48 13.44 -5.04 ---- 0.10 0.01 -0.09

18.52 13.45 -5.08 ---- 0.10 0.01 -0.09

18.56 13.45 -5.11 ---- 0.10 0.01 -0.09

18.59 13.45 -5.14 ---- 0.10 0.01 -0.09

18.60 13.45 -5.15 ---- 0.10 0.01 -0.09

18.60 13.45 -5.15 ---- 0.10 0.01 -0.09

18.59 13.45 -5.13 ---- 0.10 0.01 -0.09

18.56 13.45 -5.11 ---- 0.10 0.01 -0.09

18.53 13.45 -5.08 ---- 0.09 0.01 -0.09

18.49 13.45 -5.04 ---- 0.09 0.01 -0.09

18.44 13.45 -4.99 ---- 0.09 0.01 -0.09

18.38 13.44 -4.94 ---- 0.09 0.01 -0.09

18.32 13.44 -4.88 ---- 0.09 0.01 -0.09

18.25 13.44 -4.82 ---- 0.09 0.01 -0.09

18.18 13.43 -4.75 ---- 0.09 0.01 -0.08

18.11 13.43 -4.68 ---- 0.09 0.01 -0.08

18.04 13.42 -4.62 ---- 0.09 0.01 -0.08

17.98 13.42 -4.56 ---- 0.09 0.01 -0.08

17.93 13.41 -4.51 ---- 0.09 0.01 -0.08

17.89 13.41 -4.47 ---- 0.09 0.01 -0.08

17.86 13.41 -4.45 ---- 0.09 0.01 -0.08

17.84 13.41 -4.43 ---- 0.08 0.01 -0.08

17.83 13.41 -4.42 ---- 0.08 0.01 -0.08

17.83 13.41 -4.42 ---- 0.08 0.01 -0.08

17.83 13.41 -4.42 ---- 0.08 0.00 -0.08

17.85 13.41 -4.44 ---- 0.08 0.00 -0.07

Cost Rate Income Rate Actuarial Balance Cost Rate Income Rate Actuarial Balance

17.45% 13.78% -3.67% 2034 0.07% 0.00% -0.06%

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: B6.7. Starting in January 2030, provide an addition to monthly benefits for all beneficiaries who 

have been eligible for at least 20 years, with the following specifications: (1) Augment benefits (not the PIA) for those of 

qualifying age and eligibility duration with a MAGI below about $29,400 if single and $58,800 if married. MAGI is set to 

equal the IRMAA definition (AGI plus tax-exempt interest income). Index these thresholds after 2030 by the increase in 

the C-CPI-U; (2) The full additional amount is applicable for those born 1963 and later, once 24 years elapse from initial 

eligibility. The basic additional amount is calculated as 5 percent of the PIA for a hypothetical worker with earnings 

equal to the AWI each year; (3) For those born prior to 1963, the full additional amount is multiplied by the number of 

years they have been affected by the C-CPI-U, divided by 24; (4) Beneficiaries will receive 20 percent of their additional 

amount in their 20th year after initial eligibility, 40 percent in their 21st year after initial eligibility,..., and 100 percent of 

their additional amount in their 24th and later years after benefit eligibility; (5) Retired and disabled worker 

beneficiaries, dually entitled spouse beneficiaries, and all survivor beneficiaries received their addition as described 

above. Spousal beneficiaries (aged or with child in care) and child beneficiaries of a living retired or disabled worker 

receive 50 percent of the additional amount described above. Other beneficiary types (such as parents of deceased 

workers) will receive the percentage of the flat benefit that equals the percentage of the insured worker's PIA that they 

receive; (6) The AWI used is for the second year prior to the beneficiary's initial eligibility year, with applicable COLAs 

applied up to the age when the addition is received; and (7) The additional amount is added to the monthly benefit after 

reductions for early claiming or increases for delayed claiming have been applied.

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