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Summary Measures and Graphs
Level of Monthly Benefits

Description of Proposed Provision:
Beginning in 2013, 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 $1,134 in 2011). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,134/20 = $56.70. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

Estimates based on the intermediate assumptions of the 2012 Trustees Report

Summary Measures
[As a percentage of taxable payroll]
Present Law Change from present law Results with this provision
Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year
-2.67 -4.50 -0.19 -0.27 -2.86 -4.77


graph of OASDI cost rates and income rates by year, under present law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under present law and provision. click on graph to view underlying data.
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Last reviewed or modified January 4, 2013