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Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible in 2017, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which either 20 percent of the "old law maximum" is earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level (about $1,258 in 2014). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,258/11 = $114.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.

 

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
201613.8812.88-1.00
298
0.000.000.00
201713.9012.91-0.98
280
0.000.000.00
201813.9712.94-1.04
264
0.000.000.00
201914.1012.95-1.15
248
0.010.00-0.01
202014.2412.96-1.28
233
0.010.00-0.01
202114.3612.98-1.38
218
0.020.00-0.02
202214.5413.01-1.53
203
0.020.00-0.02
202314.7513.03-1.72
188
0.030.00-0.03
202414.9913.06-1.93
172
0.030.00-0.03
202515.2013.08-2.12
156
0.040.00-0.04
202615.4113.10-2.31
140
0.040.00-0.04
202715.6013.11-2.49
124
0.050.00-0.05
202815.8013.13-2.67
108
0.050.00-0.05
202915.9813.14-2.84
92
0.050.00-0.05
203016.1513.16-3.00
75
0.060.00-0.06
203116.3113.17-3.14
57
0.060.00-0.06
203216.4413.18-3.26
39
0.070.00-0.06
203316.5513.19-3.36
19
0.070.00-0.07
203416.6213.19-3.43
----
0.070.00-0.07
203516.6913.20-3.49
----
0.070.00-0.07
203616.7613.21-3.55
----
0.080.00-0.07
203716.8013.21-3.59
----
0.080.00-0.08
203816.8113.21-3.60
----
0.080.00-0.08
203916.8113.22-3.60
----
0.080.00-0.08
204016.8013.22-3.58
----
0.090.00-0.08
204116.7813.22-3.56
----
0.090.00-0.09
204216.7613.22-3.54
----
0.090.00-0.09
204316.7313.22-3.51
----
0.090.00-0.09
204416.7113.22-3.49
----
0.090.00-0.09
204516.6913.22-3.47
----
0.100.00-0.09
204616.6713.22-3.45
----
0.100.00-0.09
204716.6613.22-3.44
----
0.100.00-0.10
204816.6513.22-3.43
----
0.100.00-0.10
204916.6413.22-3.42
----
0.100.00-0.10
205016.6513.22-3.42
----
0.100.00-0.10
205116.6613.23-3.43
----
0.110.00-0.10
205216.6813.23-3.45
----
0.110.00-0.10
205316.7113.23-3.48
----
0.110.00-0.10
205416.7513.23-3.52
----
0.110.00-0.11
205516.8013.24-3.56
----
0.110.00-0.11
205616.8513.24-3.61
----
0.110.00-0.11
205716.9113.25-3.66
----
0.110.00-0.11
205816.9613.25-3.71
----
0.110.00-0.11
205917.0213.25-3.76
----
0.120.00-0.11
206017.0713.26-3.81
----
0.120.00-0.11
206117.1213.26-3.86
----
0.120.00-0.11
206217.1813.26-3.91
----
0.120.00-0.11
206317.2313.27-3.96
----
0.120.00-0.11
206417.2813.27-4.01
----
0.120.00-0.12
206517.3413.27-4.06
----
0.120.00-0.12
206617.3913.28-4.12
----
0.120.00-0.12
206717.4513.28-4.17
----
0.120.00-0.12
206817.5113.29-4.23
----
0.120.00-0.12
206917.5713.29-4.28
----
0.120.01-0.12
207017.6313.29-4.33
----
0.120.01-0.12
207117.6813.30-4.38
----
0.120.01-0.12
207217.7213.30-4.42
----
0.130.01-0.12
207317.7613.30-4.46
----
0.130.01-0.12
207417.7913.30-4.49
----
0.130.01-0.12
207517.8113.31-4.51
----
0.130.01-0.12
207617.8213.31-4.52
----
0.130.01-0.12
207717.8313.31-4.52
----
0.130.01-0.12
207817.8313.31-4.53
----
0.130.01-0.12
207917.8313.31-4.53
----
0.130.01-0.12
208017.8413.31-4.53
----
0.130.01-0.12
208117.8413.31-4.53
----
0.130.01-0.12
208217.8613.31-4.55
----
0.130.01-0.12
208317.8813.31-4.57
----
0.130.01-0.12
208417.9013.31-4.59
----
0.130.01-0.12
208517.9413.31-4.62
----
0.130.01-0.12
208617.9813.32-4.66
----
0.130.01-0.12
208718.0213.32-4.70
----
0.130.01-0.12
208818.0613.32-4.74
----
0.130.01-0.13
208918.1013.32-4.78
----
0.130.01-0.13
209018.1513.33-4.82
----
0.130.01-0.13



 

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 16.63% 13.87% -2.76%
2033
0.09% 0.00% -0.08%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified September 10, 2015