Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2014, 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 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 $1,164 in 2012). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,164/20 = $58.20. (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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2013	13.95	12.69	-1.26	330	0.00	0.00	0.00
2014	14.04	12.83	-1.21	315	0.01	0.00	-0.01
2015	13.99	12.87	-1.12	300	0.02	0.00	-0.02
2016	13.94	12.88	-1.06	285	0.03	0.00	-0.03
2017	13.93	12.90	-1.03	270	0.05	0.00	-0.05
2018	13.98	12.93	-1.04	256	0.06	0.00	-0.06
2019	14.14	12.95	-1.18	242	0.08	0.00	-0.08
2020	14.35	12.97	-1.38	228	0.10	0.00	-0.09
2021	14.55	13.00	-1.56	214	0.11	0.00	-0.11
2022	14.83	13.03	-1.80	199	0.12	0.01	-0.12
2023	15.11	13.05	-2.06	183	0.14	0.01	-0.13
2024	15.38	13.06	-2.31	167	0.15	0.01	-0.14
2025	15.64	13.08	-2.56	151	0.16	0.01	-0.15
2026	15.88	13.09	-2.79	134	0.17	0.01	-0.17
2027	16.11	13.11	-3.01	116	0.18	0.01	-0.18
2028	16.33	13.12	-3.21	98	0.20	0.01	-0.19
2029	16.53	13.13	-3.40	79	0.21	0.01	-0.20
2030	16.71	13.14	-3.57	60	0.22	0.01	-0.21
2031	16.86	13.15	-3.71	39	0.23	0.01	-0.22
2032	16.99	13.16	-3.83	18	0.24	0.01	-0.23
2033	17.11	13.17	-3.94	----	0.25	0.01	-0.24
2034	17.19	13.17	-4.02	----	0.26	0.01	-0.25
2035	17.25	13.18	-4.07	----	0.27	0.01	-0.26
2036	17.29	13.18	-4.11	----	0.28	0.01	-0.26
2037	17.31	13.18	-4.13	----	0.29	0.01	-0.27
2038	17.31	13.19	-4.13	----	0.29	0.01	-0.28
2039	17.29	13.19	-4.11	----	0.30	0.01	-0.29
2040	17.27	13.19	-4.08	----	0.31	0.01	-0.29
2041	17.24	13.19	-4.06	----	0.31	0.01	-0.30
2042	17.21	13.18	-4.03	----	0.32	0.01	-0.30
2043	17.19	13.18	-4.00	----	0.32	0.02	-0.31
2044	17.17	13.18	-3.99	----	0.33	0.02	-0.32
2045	17.16	13.18	-3.98	----	0.34	0.02	-0.32
2046	17.16	13.19	-3.97	----	0.34	0.02	-0.32
2047	17.15	13.19	-3.97	----	0.35	0.02	-0.33
2048	17.14	13.19	-3.96	----	0.35	0.02	-0.33
2049	17.14	13.19	-3.95	----	0.36	0.02	-0.34
2050	17.14	13.19	-3.96	----	0.36	0.02	-0.34
2051	17.16	13.19	-3.97	----	0.37	0.02	-0.35
2052	17.18	13.19	-3.99	----	0.37	0.02	-0.35
2053	17.21	13.19	-4.02	----	0.38	0.02	-0.36
2054	17.25	13.20	-4.05	----	0.38	0.02	-0.36
2055	17.30	13.20	-4.10	----	0.39	0.02	-0.37
2056	17.35	13.20	-4.14	----	0.39	0.02	-0.37
2057	17.40	13.21	-4.19	----	0.39	0.02	-0.37
2058	17.45	13.21	-4.24	----	0.40	0.02	-0.38
2059	17.49	13.21	-4.28	----	0.40	0.02	-0.38
2060	17.54	13.21	-4.33	----	0.40	0.02	-0.38
2061	17.59	13.22	-4.37	----	0.40	0.02	-0.38
2062	17.63	13.22	-4.41	----	0.41	0.02	-0.39
2063	17.68	13.22	-4.46	----	0.41	0.02	-0.39
2064	17.72	13.23	-4.50	----	0.41	0.02	-0.39
2065	17.77	13.23	-4.54	----	0.41	0.02	-0.39
2066	17.82	13.23	-4.59	----	0.41	0.02	-0.39
2067	17.86	13.23	-4.63	----	0.41	0.02	-0.39
2068	17.91	13.24	-4.67	----	0.42	0.02	-0.40
2069	17.96	13.24	-4.72	----	0.42	0.02	-0.40
2070	18.00	13.24	-4.76	----	0.42	0.02	-0.40
2071	18.04	13.24	-4.80	----	0.42	0.02	-0.40
2072	18.08	13.25	-4.83	----	0.42	0.02	-0.40
2073	18.10	13.25	-4.85	----	0.42	0.02	-0.40
2074	18.12	13.25	-4.88	----	0.42	0.02	-0.40
2075	18.14	13.25	-4.89	----	0.42	0.02	-0.40
2076	18.15	13.25	-4.90	----	0.42	0.02	-0.40
2077	18.16	13.25	-4.90	----	0.42	0.02	-0.40
2078	18.16	13.25	-4.91	----	0.42	0.02	-0.40
2079	18.17	13.25	-4.92	----	0.42	0.02	-0.40
2080	18.18	13.25	-4.93	----	0.42	0.02	-0.40
2081	18.20	13.25	-4.94	----	0.42	0.02	-0.40
2082	18.22	13.25	-4.97	----	0.42	0.02	-0.40
2083	18.25	13.26	-5.00	----	0.42	0.02	-0.40
2084	18.29	13.26	-5.03	----	0.42	0.02	-0.40
2085	18.34	13.26	-5.08	----	0.42	0.02	-0.40
2086	18.39	13.26	-5.12	----	0.42	0.02	-0.40
2087	18.44	13.27	-5.17	----	0.43	0.02	-0.40
2088	18.49	13.27	-5.22	----	0.43	0.02	-0.41

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2013 Trustees Report.
2013-2087	16.88%	13.89%	-2.99%	2032	0.29%	0.01%	-0.27%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates