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Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible for benefits in 2017, increase the special minimum benefit by making the following changes. (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) Set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,128 in 2009). The PIA per year of coverage (after the first 10 years) would be $1,128/20 = $56.40. (c) Increase the PIA per year of coverage from 2009 to the year of implementation, 2017, using the chain-CPI index; then index the initial PIA per year of coverage by wage growth for successive cohorts, so that the special minimum keeps up with the wage-indexed benefit formula. Scale work requirements for disabled workers based on the years of potential work (not disabled).

 

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
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.12
353
0.000.000.00
201212.8412.870.03
350
0.000.000.00
201312.8212.900.08
346
0.000.000.00
201412.8612.920.06
341
0.000.000.00
201512.9812.94-0.04
335
0.000.000.00
201613.1012.96-0.14
330
0.000.000.00
201713.3112.99-0.32
324
0.000.000.00
201813.5613.02-0.54
317
0.010.00-0.01
201913.8613.03-0.83
308
0.020.00-0.02
202014.1813.05-1.13
298
0.030.00-0.03
202114.5013.07-1.43
287
0.040.00-0.04
202214.8013.09-1.72
275
0.060.00-0.05
202315.0913.10-1.99
262
0.070.00-0.06
202415.3613.12-2.24
248
0.080.00-0.07
202515.6213.14-2.49
233
0.090.00-0.08
202615.8513.15-2.70
217
0.100.00-0.09
202716.0613.16-2.90
201
0.110.00-0.10
202816.2513.18-3.07
184
0.120.00-0.11
202916.4113.19-3.22
166
0.120.00-0.12
203016.5413.20-3.34
148
0.130.01-0.13
203116.6513.21-3.44
129
0.140.01-0.13
203216.7413.21-3.52
109
0.150.01-0.14
203316.8113.22-3.59
90
0.160.01-0.15
203416.8713.23-3.64
70
0.160.01-0.16
203516.9013.23-3.67
49
0.170.01-0.16
203616.9113.23-3.68
28
0.170.01-0.17
203716.9213.24-3.68
7
0.180.01-0.17
203816.9013.24-3.66
----
0.180.01-0.18
203916.8713.24-3.63
----
0.190.01-0.18
204016.8413.24-3.60
----
0.190.01-0.19
204116.7913.24-3.56
----
0.200.01-0.19
204216.7513.24-3.52
----
0.200.01-0.19
204316.7113.23-3.48
----
0.200.01-0.20
204416.6813.23-3.45
----
0.210.01-0.20
204516.6513.23-3.42
----
0.210.01-0.20
204616.6313.23-3.40
----
0.210.01-0.20
204716.6113.23-3.38
----
0.210.01-0.20
204816.5913.23-3.36
----
0.220.01-0.21
204916.5713.23-3.34
----
0.220.01-0.21
205016.5613.23-3.32
----
0.220.01-0.21
205116.5513.23-3.31
----
0.220.01-0.22
205216.5513.24-3.32
----
0.230.01-0.22
205316.5613.24-3.32
----
0.230.01-0.22
205416.5813.24-3.34
----
0.230.01-0.22
205516.6013.24-3.36
----
0.230.01-0.22
205616.6313.24-3.38
----
0.240.01-0.23
205716.6513.25-3.41
----
0.240.01-0.23
205816.6813.25-3.43
----
0.240.01-0.23
205916.7013.25-3.45
----
0.240.01-0.23
206016.7313.25-3.47
----
0.240.01-0.23
206116.7513.26-3.50
----
0.240.01-0.23
206216.7813.26-3.52
----
0.250.01-0.24
206316.8113.26-3.55
----
0.250.01-0.24
206416.8313.26-3.57
----
0.250.01-0.24
206516.8713.26-3.60
----
0.250.01-0.24
206616.9013.27-3.63
----
0.250.01-0.24
206716.9413.27-3.67
----
0.250.01-0.24
206816.9813.27-3.71
----
0.250.01-0.24
206917.0213.28-3.74
----
0.250.01-0.24
207017.0613.28-3.78
----
0.260.01-0.24
207117.1113.28-3.82
----
0.260.01-0.25
207217.1513.28-3.87
----
0.260.01-0.25
207317.2013.29-3.91
----
0.260.01-0.25
207417.2413.29-3.95
----
0.260.01-0.25
207517.2913.29-3.99
----
0.260.01-0.25
207617.3313.30-4.04
----
0.260.01-0.25
207717.3813.30-4.08
----
0.260.01-0.25
207817.4213.30-4.12
----
0.260.01-0.25
207917.4713.31-4.17
----
0.260.01-0.25
208017.5213.31-4.21
----
0.260.01-0.25
208117.5613.31-4.25
----
0.270.01-0.25
208217.6113.31-4.29
----
0.270.01-0.25
208317.6513.32-4.33
----
0.270.01-0.26
208417.6913.32-4.38
----
0.270.01-0.26
208517.7413.32-4.41
----
0.270.01-0.26



 

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 2010 Trustees Report.
2010-2084 16.09% 14.01% -2.07%
2037
0.16% 0.01% -0.15%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 2, 2011