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Detailed Single Year Tables
Level of Monthly Benefits (PIA)

Description of Proposed Provision:
Beginning in 2011, increase the special minimum benefit by making the following changes: (a) A year of coverage is defined to be either a childcare year or a year in which 4 quarters of coverage are earned. Childcare years are granted to parents who have a child under 5, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,128 in 2009). The PIA per year of coverage (after the first 10 years) would be $1,128/20 = $56.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts, so that the special minimum keeps up with the wage-indexed benefit formula.

 

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
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.13
353
0.010.00-0.01
201212.8612.870.01
350
0.020.00-0.02
201312.8612.900.04
344
0.040.00-0.04
201412.9212.920.01
339
0.050.00-0.05
201513.0512.94-0.11
333
0.070.00-0.07
201613.1912.97-0.23
326
0.090.00-0.09
201713.4112.99-0.42
319
0.110.00-0.10
201813.6713.02-0.65
311
0.130.01-0.12
201913.9813.03-0.95
302
0.150.01-0.14
202014.3113.06-1.26
292
0.170.01-0.16
202114.6413.08-1.56
280
0.180.01-0.18
202214.9513.09-1.86
267
0.200.01-0.19
202315.2513.11-2.14
253
0.220.01-0.21
202415.5213.13-2.40
238
0.240.01-0.23
202515.7913.15-2.64
222
0.250.01-0.24
202616.0313.16-2.87
206
0.270.01-0.26
202716.2413.17-3.07
188
0.290.01-0.27
202816.4313.19-3.24
170
0.300.01-0.28
202916.6013.20-3.40
152
0.310.02-0.30
203016.7313.21-3.52
132
0.320.02-0.31
203116.8413.22-3.62
112
0.340.02-0.32
203216.9413.23-3.71
92
0.350.02-0.33
203317.0113.23-3.78
72
0.360.02-0.34
203417.0713.24-3.83
50
0.360.02-0.35
203517.1013.24-3.86
29
0.370.02-0.35
203617.1113.25-3.87
7
0.380.02-0.36
203717.1213.25-3.87
----
0.380.02-0.36
203817.1013.25-3.85
----
0.390.02-0.37
203917.0713.25-3.82
----
0.390.02-0.37
204017.0313.25-3.78
----
0.390.02-0.37
204116.9913.25-3.74
----
0.390.02-0.37
204216.9513.25-3.70
----
0.390.02-0.37
204316.9113.25-3.66
----
0.390.02-0.37
204416.8713.25-3.62
----
0.400.02-0.38
204516.8413.25-3.60
----
0.400.02-0.38
204616.8213.25-3.57
----
0.400.02-0.38
204716.8013.25-3.55
----
0.400.02-0.38
204816.7813.25-3.53
----
0.410.02-0.38
204916.7613.25-3.51
----
0.410.02-0.39
205016.7413.25-3.50
----
0.410.02-0.39
205116.7413.25-3.49
----
0.410.02-0.39
205216.7413.25-3.49
----
0.420.02-0.39
205316.7513.25-3.50
----
0.420.02-0.40
205416.7713.25-3.52
----
0.420.02-0.40
205516.7913.25-3.54
----
0.420.02-0.40
205616.8213.26-3.56
----
0.430.02-0.40
205716.8413.26-3.59
----
0.430.02-0.41
205816.8713.26-3.61
----
0.430.02-0.41
205916.8913.26-3.63
----
0.430.02-0.41
206016.9213.27-3.65
----
0.430.02-0.41
206116.9413.27-3.67
----
0.430.02-0.41
206216.9713.27-3.70
----
0.440.02-0.41
206317.0013.27-3.72
----
0.440.02-0.41
206417.0213.27-3.75
----
0.440.02-0.41
206517.0613.28-3.78
----
0.440.02-0.42
206617.0913.28-3.81
----
0.440.02-0.42
206717.1313.28-3.85
----
0.440.02-0.42
206817.1713.29-3.88
----
0.440.02-0.42
206917.2113.29-3.92
----
0.440.02-0.42
207017.2513.29-3.96
----
0.450.02-0.42
207117.3013.29-4.00
----
0.450.02-0.42
207217.3413.30-4.04
----
0.450.02-0.42
207317.3913.30-4.09
----
0.450.02-0.42
207417.4313.30-4.13
----
0.450.02-0.43
207517.4813.31-4.17
----
0.450.02-0.43
207617.5213.31-4.21
----
0.450.02-0.43
207717.5713.31-4.26
----
0.450.02-0.43
207817.6213.32-4.30
----
0.450.02-0.43
207917.6613.32-4.34
----
0.460.02-0.43
208017.7113.32-4.39
----
0.460.02-0.43
208117.7513.32-4.43
----
0.460.02-0.43
208217.8013.33-4.47
----
0.460.02-0.43
208317.8413.33-4.51
----
0.460.03-0.44
208417.8913.33-4.55
----
0.460.03-0.44
208517.9313.34-4.59
----
0.460.03-0.44



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of
exhaustion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 16.25% 14.02% -2.23%
2036
0.32% 0.02% -0.31%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 2, 2011