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Summary Measures and Graphs

Description of Proposed Provision:
B7.3: Give credit to parents with a child under 6 for earnings for up to five years. The earnings credited for a childcare year equal one half of the SSA average wage index (about $24,682 in 2016). The credits are available for all past years to newly eligible retired-worker and disabled-worker beneficiaries starting in 2018. The 5 years are chosen to yield the largest increase in AIME.

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.
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Last reviewed or modified July 13, 2017