Skip to content
Social Security Online
Actuarial Publications
Solvency provisions SSA logo: link to Social Security Online home

Summary Measures and Graphs

Description of Proposed Provision:
B5.3: Beginning for those newly eligible in 2018, 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 $1,238 in 2016). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,238/20 = $61.90. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

Estimates based on the intermediate assumptions of the 2017 Trustees Report

Summary Measures
Current law
[percent of payroll]
Change from current law
[percent of payroll]
Shortfall eliminated
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
-2.83 -4.48 -0.22 -0.32 -8% -7%


graph of OASDI cost rates and income rates by year, under
                 current law and provision. click on graph to view underlying
                 data. graph of OASDI trust fund ratio by year, under current law
                 and provision. click on graph to view underlying data.
 Link to USA.gov: U.S. Government portal Privacy Policy  | Website Policies & Other Important Information  | Site Map
Last reviewed or modified July 13, 2017