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Detailed Single Year Tables

Description of Proposed Provision:
Reduce individual Social Security benefits if modified adjusted gross income, or MAGI (AGI less taxable Social Security benefits plus nontaxable interest income) is above $60,000 for single taxpayers or $120,000 for taxpayers filing jointly. This provision is effective for individuals newly eligible for benefits in 2020 or later. The percentage reduction increases linearly up to 50 percent for single/joint filers with MAGI of $180,000/$360,000 or above. Index the MAGI thresholds for years after 2020, based on changes in the SSA average wage index.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201313.9512.69-1.26
330
0.000.000.00
201414.0412.83-1.20
315
0.000.000.00
201513.9712.86-1.10
301
0.000.000.00
201613.9112.88-1.03
286
0.000.000.00
201713.8812.90-0.98
271
0.000.000.00
201813.9112.93-0.98
257
0.000.000.00
201914.0612.95-1.11
244
0.000.000.00
202014.2612.97-1.29
231
0.000.000.00
202114.4412.99-1.44
218
-0.010.000.01
202214.6913.02-1.66
204
-0.020.000.02
202314.9413.04-1.90
189
-0.030.000.03
202415.1713.05-2.12
174
-0.050.000.05
202515.4013.07-2.33
159
-0.070.000.07
202615.6013.08-2.52
144
-0.11-0.010.11
202715.7813.09-2.69
128
-0.14-0.010.14
202815.9613.10-2.86
112
-0.18-0.010.17
202916.1213.11-3.01
95
-0.20-0.010.19
203016.2613.12-3.14
77
-0.23-0.010.22
203116.3813.13-3.25
59
-0.25-0.010.24
203216.4813.14-3.34
40
-0.27-0.010.26
203316.5713.14-3.43
20
-0.29-0.010.27
203416.6313.15-3.49
0
-0.30-0.010.29
203516.6713.15-3.52
----
-0.32-0.010.30
203616.6913.15-3.53
----
-0.32-0.020.31
203716.6913.15-3.53
----
-0.34-0.020.32
203816.6713.16-3.52
----
-0.34-0.020.33
203916.6413.15-3.49
----
-0.35-0.020.33
204016.6113.15-3.45
----
-0.36-0.020.34
204116.5613.15-3.41
----
-0.36-0.020.35
204216.5213.15-3.37
----
-0.37-0.020.35
204316.4913.15-3.34
----
-0.38-0.020.36
204416.4613.15-3.31
----
-0.38-0.020.36
204516.4513.15-3.30
----
-0.38-0.020.36
204616.4413.15-3.29
----
-0.38-0.020.36
204716.4213.15-3.27
----
-0.38-0.020.37
204816.4113.15-3.25
----
-0.39-0.020.37
204916.4013.15-3.25
----
-0.39-0.020.37
205016.3913.15-3.24
----
-0.39-0.020.37
205116.4013.15-3.25
----
-0.39-0.020.37
205216.4113.15-3.26
----
-0.40-0.020.38
205316.4413.16-3.28
----
-0.40-0.020.38
205416.4713.16-3.31
----
-0.40-0.020.38
205516.5113.16-3.34
----
-0.40-0.020.39
205616.5513.16-3.38
----
-0.41-0.020.39
205716.5913.17-3.43
----
-0.41-0.020.39
205816.6313.17-3.47
----
-0.42-0.020.40
205916.6813.17-3.51
----
-0.42-0.020.40
206016.7213.18-3.55
----
-0.42-0.020.40
206116.7713.18-3.59
----
-0.42-0.020.40
206216.8113.18-3.63
----
-0.42-0.020.40
206316.8513.18-3.67
----
-0.42-0.020.40
206416.8913.19-3.71
----
-0.42-0.020.40
206516.9313.19-3.75
----
-0.42-0.020.40
206616.9813.19-3.79
----
-0.42-0.020.40
206717.0213.19-3.83
----
-0.43-0.020.40
206817.0713.20-3.87
----
-0.43-0.020.41
206917.1113.20-3.91
----
-0.43-0.020.41
207017.1613.20-3.96
----
-0.43-0.020.41
207117.1913.20-3.99
----
-0.43-0.020.41
207217.2313.20-4.02
----
-0.43-0.020.41
207317.2513.21-4.04
----
-0.43-0.020.41
207417.2713.21-4.06
----
-0.43-0.020.41
207517.2913.21-4.08
----
-0.43-0.020.41
207617.3013.21-4.09
----
-0.43-0.020.41
207717.3013.21-4.09
----
-0.43-0.020.41
207817.3113.21-4.10
----
-0.43-0.020.41
207917.3213.21-4.10
----
-0.43-0.020.41
208017.3313.21-4.12
----
-0.43-0.020.41
208117.3413.21-4.13
----
-0.43-0.020.41
208217.3713.21-4.15
----
-0.43-0.020.41
208317.4013.22-4.18
----
-0.43-0.020.41
208417.4413.22-4.22
----
-0.44-0.020.41
208517.4813.22-4.26
----
-0.44-0.020.42
208617.5213.22-4.30
----
-0.44-0.020.42
208717.5713.22-4.35
----
-0.44-0.020.42
208817.6213.23-4.40
----
-0.44-0.020.42



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2013 Trustees Report.
2013-2087 16.31% 13.86% -2.44%
2034
-0.29% -0.01% 0.27%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 11, 2013