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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2013, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 100 percent of the monthly poverty level (about $931 in 2012). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $931/20 = $46.55. (c) From 2012 to the year of implementation, 2013, index the PIA per year of coverage using the CPI index. Then, for later years, index the PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.

 

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
201213.8312.89-0.93
340
0.000.000.00
201313.9512.83-1.12
329
0.000.000.00
201413.9912.93-1.06
315
0.010.00-0.01
201513.9812.95-1.03
302
0.020.00-0.02
201613.9612.98-0.98
289
0.030.00-0.03
201713.9513.01-0.94
276
0.030.00-0.03
201814.0013.04-0.97
264
0.040.00-0.04
201914.1813.05-1.13
252
0.050.00-0.05
202014.4313.08-1.35
238
0.050.00-0.05
202114.7113.11-1.61
224
0.060.00-0.06
202215.0413.13-1.91
210
0.070.00-0.06
202315.3613.15-2.21
194
0.070.00-0.07
202415.6713.17-2.51
177
0.080.00-0.08
202515.9713.18-2.78
160
0.080.00-0.08
202616.2413.20-3.04
143
0.090.00-0.09
202716.5113.21-3.29
124
0.100.00-0.09
202816.7413.23-3.51
105
0.100.00-0.10
202916.9413.24-3.70
85
0.110.00-0.10
203017.1213.25-3.86
64
0.110.00-0.11
203117.2613.26-4.00
42
0.120.00-0.11
203217.3713.27-4.10
20
0.120.00-0.12
203317.4513.28-4.18
----
0.130.00-0.12
203417.5113.28-4.23
----
0.130.00-0.13
203517.5413.28-4.26
----
0.130.01-0.13
203617.5613.29-4.28
----
0.140.01-0.13
203717.5713.29-4.29
----
0.140.01-0.14
203817.5713.29-4.28
----
0.150.01-0.14
203917.5413.29-4.25
----
0.150.01-0.14
204017.5113.29-4.22
----
0.150.01-0.15
204117.4713.29-4.19
----
0.150.01-0.15
204217.4413.29-4.15
----
0.160.01-0.15
204317.4013.28-4.12
----
0.160.01-0.15
204417.3713.28-4.09
----
0.160.01-0.16
204517.3513.28-4.07
----
0.170.01-0.16
204617.3313.28-4.05
----
0.170.01-0.16
204717.3113.28-4.02
----
0.170.01-0.16
204817.2913.28-4.00
----
0.170.01-0.17
204917.2713.28-3.99
----
0.170.01-0.17
205017.2613.28-3.98
----
0.180.01-0.17
205117.2513.28-3.97
----
0.180.01-0.17
205217.2513.28-3.97
----
0.180.01-0.17
205317.2613.28-3.97
----
0.180.01-0.18
205417.2713.28-3.98
----
0.190.01-0.18
205517.2813.29-3.99
----
0.190.01-0.18
205617.3013.29-4.01
----
0.190.01-0.18
205717.3113.29-4.03
----
0.190.01-0.18
205817.3313.29-4.04
----
0.190.01-0.18
205917.3413.29-4.05
----
0.190.01-0.19
206017.3513.29-4.06
----
0.200.01-0.19
206117.3613.29-4.06
----
0.200.01-0.19
206217.3713.29-4.07
----
0.200.01-0.19
206317.3713.29-4.08
----
0.200.01-0.19
206417.3913.30-4.09
----
0.200.01-0.19
206517.4013.30-4.10
----
0.200.01-0.19
206617.4213.30-4.12
----
0.200.01-0.19
206717.4413.30-4.14
----
0.200.01-0.19
206817.4713.30-4.17
----
0.200.01-0.19
206917.5013.30-4.19
----
0.200.01-0.19
207017.5313.31-4.22
----
0.200.01-0.20
207117.5613.31-4.25
----
0.200.01-0.20
207217.5813.31-4.27
----
0.210.01-0.20
207317.6113.31-4.30
----
0.210.01-0.20
207417.6413.31-4.33
----
0.210.01-0.20
207517.6713.32-4.35
----
0.210.01-0.20
207617.6913.32-4.38
----
0.210.01-0.20
207717.7213.32-4.40
----
0.210.01-0.20
207817.7513.32-4.43
----
0.210.01-0.20
207917.7813.32-4.46
----
0.210.01-0.20
208017.8113.32-4.49
----
0.210.01-0.20
208117.8513.33-4.52
----
0.210.01-0.20
208217.8913.33-4.56
----
0.210.01-0.20
208317.9313.33-4.59
----
0.210.01-0.20
208417.9713.33-4.63
----
0.210.01-0.20
208518.0113.34-4.67
----
0.210.01-0.20
208618.0413.34-4.71
----
0.210.01-0.20
208718.0813.34-4.74
----
0.210.01-0.20



 

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 2012 Trustees Report.
2012-2086 16.83% 14.03% -2.80%
2032
0.14% 0.01% -0.13%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified February 20, 2013