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Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible in 2016, 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 $1,216 in 2014). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,216/20 = $60.80. (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
201514.1312.82-1.31
308
0.000.000.00
201613.8912.88-1.00
297
0.010.00-0.01
201713.9112.91-1.00
280
0.020.00-0.02
201814.0012.94-1.06
263
0.030.00-0.03
201914.1312.95-1.18
247
0.050.00-0.04
202014.2912.97-1.32
232
0.060.00-0.06
202114.4212.99-1.43
216
0.080.00-0.07
202214.6113.02-1.59
201
0.090.00-0.09
202314.8313.04-1.79
185
0.100.00-0.10
202415.0813.07-2.01
169
0.120.01-0.11
202515.3013.09-2.21
153
0.130.01-0.13
202615.5113.10-2.41
137
0.150.01-0.14
202715.7213.12-2.60
120
0.160.01-0.15
202815.9213.14-2.79
103
0.170.01-0.16
202916.1113.15-2.96
86
0.180.01-0.18
203016.2913.16-3.13
68
0.190.01-0.19
203116.4513.18-3.27
50
0.210.01-0.20
203216.5913.19-3.40
31
0.220.01-0.21
203316.7013.20-3.51
11
0.230.01-0.21
203416.7913.20-3.58
----
0.230.01-0.22
203516.8613.21-3.65
----
0.240.01-0.23
203616.9313.22-3.71
----
0.250.01-0.24
203716.9813.22-3.75
----
0.260.01-0.24
203816.9913.22-3.77
----
0.260.01-0.25
203917.0013.23-3.77
----
0.270.01-0.26
204016.9913.23-3.76
----
0.270.01-0.26
204116.9713.23-3.74
----
0.280.01-0.27
204216.9513.23-3.72
----
0.280.01-0.27
204316.9313.23-3.70
----
0.290.01-0.28
204416.9113.23-3.68
----
0.290.01-0.28
204516.9013.23-3.67
----
0.300.02-0.29
204616.8813.23-3.65
----
0.310.02-0.29
204716.8713.23-3.64
----
0.310.02-0.30
204816.8713.23-3.63
----
0.320.02-0.30
204916.8613.24-3.63
----
0.320.02-0.31
205016.8713.24-3.63
----
0.330.02-0.31
205116.8913.24-3.65
----
0.330.02-0.32
205216.9113.24-3.67
----
0.340.02-0.32
205316.9513.24-3.70
----
0.340.02-0.32
205416.9913.25-3.74
----
0.350.02-0.33
205517.0413.25-3.79
----
0.350.02-0.33
205617.0913.25-3.84
----
0.350.02-0.33
205717.1513.26-3.89
----
0.360.02-0.34
205817.2113.26-3.94
----
0.360.02-0.34
205917.2613.27-3.99
----
0.360.02-0.34
206017.3213.27-4.04
----
0.360.02-0.34
206117.3713.27-4.10
----
0.370.02-0.35
206217.4213.28-4.15
----
0.370.02-0.35
206317.4813.28-4.20
----
0.370.02-0.35
206417.5313.29-4.25
----
0.370.02-0.35
206517.5913.29-4.30
----
0.370.02-0.35
206617.6513.29-4.35
----
0.370.02-0.36
206717.7113.30-4.41
----
0.380.02-0.36
206817.7713.30-4.47
----
0.380.02-0.36
206917.8213.30-4.52
----
0.380.02-0.36
207017.8813.31-4.57
----
0.380.02-0.36
207117.9313.31-4.62
----
0.380.02-0.36
207217.9813.31-4.66
----
0.380.02-0.36
207318.0213.32-4.70
----
0.380.02-0.36
207418.0513.32-4.73
----
0.380.02-0.36
207518.0713.32-4.75
----
0.380.02-0.36
207618.0813.32-4.76
----
0.380.02-0.36
207718.0913.32-4.76
----
0.380.02-0.36
207818.0913.32-4.77
----
0.380.02-0.36
207918.0913.32-4.77
----
0.380.02-0.36
208018.0913.32-4.77
----
0.380.02-0.36
208118.1013.32-4.77
----
0.380.02-0.36
208218.1113.32-4.78
----
0.380.02-0.36
208318.1313.32-4.80
----
0.380.02-0.36
208418.1613.33-4.83
----
0.380.02-0.36
208518.1913.33-4.86
----
0.380.02-0.36
208618.2313.33-4.90
----
0.380.02-0.36
208718.2713.33-4.94
----
0.380.02-0.36
208818.3113.34-4.98
----
0.380.02-0.36
208918.3613.34-5.02
----
0.390.02-0.37
209018.4013.34-5.06
----
0.390.02-0.37



 

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 2015 Trustees Report.
2015-2089 16.81% 13.88% -2.94%
2033
0.27% 0.01% -0.25%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 10, 2015