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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2012, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,128 in 2010). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,128/20 = $56.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

 

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
201113.3512.52-0.82
353
0.000.000.00
201213.2312.87-0.37
347
0.000.000.00
201313.1912.87-0.32
340
0.010.00-0.01
201413.2012.92-0.28
333
0.020.00-0.02
201513.2712.94-0.33
327
0.030.00-0.03
201613.3612.97-0.39
320
0.040.00-0.04
201713.5113.00-0.51
312
0.050.00-0.05
201813.6713.03-0.64
303
0.060.00-0.06
201913.9513.05-0.90
293
0.070.00-0.07
202014.2713.06-1.21
281
0.080.00-0.08
202114.6113.08-1.52
268
0.090.00-0.09
202214.9313.10-1.83
254
0.100.00-0.10
202315.2413.12-2.12
239
0.110.01-0.11
202415.5313.14-2.39
224
0.120.01-0.12
202515.8113.16-2.65
208
0.130.01-0.13
202616.0713.17-2.90
191
0.140.01-0.14
202716.3013.19-3.12
173
0.150.01-0.15
202816.5113.20-3.31
155
0.160.01-0.16
202916.6913.21-3.48
136
0.170.01-0.16
203016.8413.22-3.62
116
0.180.01-0.17
203116.9513.23-3.72
96
0.190.01-0.18
203217.0513.24-3.81
75
0.200.01-0.19
203317.1413.24-3.89
54
0.210.01-0.20
203417.1913.25-3.94
32
0.210.01-0.20
203517.2313.25-3.98
10
0.220.01-0.21
203617.2613.26-4.00
----
0.230.01-0.21
203717.2713.26-4.01
----
0.230.01-0.22
203817.2513.26-3.99
----
0.230.01-0.22
203917.2313.26-3.97
----
0.240.01-0.23
204017.2013.26-3.94
----
0.240.01-0.23
204117.1613.26-3.90
----
0.240.01-0.23
204217.1213.26-3.86
----
0.250.01-0.23
204317.0913.26-3.83
----
0.250.01-0.24
204417.0613.26-3.81
----
0.250.01-0.24
204517.0413.26-3.78
----
0.250.01-0.24
204617.0113.26-3.76
----
0.260.01-0.24
204717.0013.26-3.74
----
0.260.01-0.24
204816.9813.26-3.72
----
0.260.01-0.25
204916.9613.26-3.70
----
0.260.01-0.25
205016.9513.26-3.69
----
0.260.01-0.25
205116.9413.26-3.68
----
0.260.01-0.25
205216.9513.26-3.69
----
0.260.01-0.25
205316.9513.26-3.69
----
0.270.01-0.25
205416.9713.26-3.71
----
0.270.01-0.25
205516.9913.26-3.72
----
0.270.01-0.25
205617.0113.27-3.74
----
0.270.01-0.25
205717.0313.27-3.76
----
0.270.01-0.26
205817.0513.27-3.78
----
0.270.01-0.26
205917.0613.27-3.79
----
0.270.01-0.26
206017.0813.27-3.80
----
0.270.01-0.26
206117.0913.27-3.81
----
0.270.01-0.26
206217.1013.28-3.82
----
0.270.01-0.26
206317.1113.28-3.83
----
0.270.01-0.26
206417.1213.28-3.84
----
0.270.01-0.26
206517.1413.28-3.86
----
0.270.01-0.26
206617.1613.28-3.88
----
0.270.01-0.26
206717.1913.28-3.90
----
0.270.01-0.26
206817.2113.29-3.93
----
0.270.02-0.26
206917.2513.29-3.96
----
0.280.02-0.26
207017.2813.29-3.99
----
0.280.02-0.26
207117.3113.29-4.02
----
0.280.02-0.26
207217.3413.29-4.05
----
0.280.02-0.26
207317.3813.30-4.08
----
0.280.02-0.26
207417.4213.30-4.12
----
0.280.02-0.26
207517.4613.30-4.16
----
0.280.02-0.26
207617.4913.30-4.19
----
0.280.02-0.26
207717.5313.31-4.22
----
0.280.02-0.26
207817.5713.31-4.26
----
0.280.02-0.26
207917.6013.31-4.29
----
0.280.02-0.27
208017.6413.31-4.33
----
0.280.02-0.27
208117.6813.32-4.37
----
0.280.02-0.27
208217.7213.32-4.40
----
0.280.02-0.27
208317.7613.32-4.44
----
0.280.02-0.27
208417.8013.32-4.48
----
0.280.02-0.27
208517.8413.33-4.51
----
0.280.02-0.27
208617.8813.33-4.55
----
0.290.02-0.27



 

Summarized Estimates

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

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2011 Trustees Report.
2011-2085 16.45% 14.04% -2.41%
2035
0.20% 0.01% -0.19%
 
1 Under present law, the year of exhaustion is 2036.

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Last reviewed or modified December 21, 2011