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Detailed Single Year Tables

Description of Proposed Provision:
B5.5: Beginning for those newly eligible in 2019, 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 $1,276 in 2016). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,276/11 = $116.00. (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 Current Law
  Expressed as a percentage of
current-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
current-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8612.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.010.00-0.01
202214.2613.02-1.24
230
0.010.00-0.01
202314.5513.05-1.51
215
0.010.00-0.01
202414.8413.08-1.76
198
0.010.00-0.01
202515.1213.10-2.01
182
0.020.00-0.02
202615.3913.14-2.25
165
0.020.00-0.02
202715.6413.15-2.49
147
0.020.00-0.02
202815.8813.17-2.71
129
0.030.00-0.02
202916.0913.18-2.91
111
0.030.00-0.03
203016.3013.20-3.10
93
0.030.00-0.03
203116.4813.21-3.27
74
0.030.00-0.03
203216.6413.22-3.42
55
0.030.00-0.03
203316.7813.23-3.55
35
0.040.00-0.04
203416.8913.24-3.65
15
0.040.00-0.04
203516.9713.24-3.73
----
0.040.00-0.04
203617.0313.25-3.79
----
0.040.00-0.04
203717.0713.25-3.82
----
0.050.00-0.04
203817.0713.25-3.82
----
0.050.00-0.05
203917.0513.25-3.80
----
0.050.00-0.05
204017.0113.25-3.76
----
0.050.00-0.05
204116.9713.25-3.72
----
0.050.00-0.05
204216.9113.24-3.67
----
0.050.00-0.05
204316.8613.24-3.62
----
0.050.00-0.05
204416.8113.24-3.57
----
0.060.00-0.05
204516.7813.24-3.54
----
0.060.00-0.06
204616.7413.24-3.50
----
0.060.00-0.06
204716.7113.24-3.47
----
0.060.00-0.06
204816.6813.24-3.44
----
0.060.00-0.06
204916.6513.23-3.42
----
0.060.00-0.06
205016.6313.23-3.40
----
0.060.00-0.06
205116.6213.23-3.39
----
0.060.00-0.06
205216.6213.23-3.39
----
0.060.00-0.06
205316.6313.24-3.40
----
0.070.00-0.06
205416.6613.24-3.42
----
0.070.00-0.06
205516.6913.24-3.45
----
0.070.00-0.07
205616.7213.24-3.48
----
0.070.00-0.07
205716.7713.25-3.52
----
0.070.00-0.07
205816.8113.25-3.56
----
0.070.00-0.07
205916.8513.25-3.60
----
0.070.00-0.07
206016.9013.26-3.65
----
0.070.00-0.07
206116.9513.26-3.69
----
0.070.00-0.07
206216.9913.26-3.73
----
0.070.00-0.07
206317.0413.26-3.78
----
0.070.00-0.07
206417.0913.27-3.82
----
0.070.00-0.07
206517.1413.27-3.87
----
0.070.00-0.07
206617.1913.27-3.92
----
0.070.00-0.07
206717.2413.28-3.97
----
0.080.00-0.07
206817.3013.28-4.02
----
0.080.00-0.07
206917.3513.28-4.07
----
0.080.00-0.07
207017.4013.29-4.12
----
0.080.00-0.07
207117.4513.29-4.16
----
0.080.00-0.07
207217.4913.29-4.20
----
0.080.00-0.07
207317.5313.30-4.23
----
0.080.00-0.08
207417.5613.30-4.26
----
0.080.00-0.08
207517.5813.30-4.28
----
0.080.00-0.08
207617.6013.30-4.30
----
0.080.00-0.08
207717.6013.30-4.30
----
0.080.00-0.08
207817.6013.30-4.30
----
0.080.00-0.08
207917.6013.30-4.30
----
0.080.00-0.08
208017.5913.30-4.29
----
0.080.00-0.08
208117.5913.30-4.29
----
0.080.00-0.08
208217.5913.30-4.29
----
0.080.00-0.08
208317.5913.30-4.29
----
0.080.00-0.08
208417.6113.30-4.31
----
0.080.00-0.08
208517.6313.30-4.33
----
0.080.00-0.08
208617.6613.30-4.36
----
0.080.00-0.08
208717.7013.31-4.39
----
0.080.00-0.08
208817.7413.31-4.43
----
0.080.00-0.08
208917.7813.31-4.47
----
0.080.00-0.08
209017.8313.31-4.52
----
0.080.00-0.08
209117.8813.32-4.56
----
0.080.00-0.08
209217.9213.32-4.60
----
0.080.00-0.08



 

Summarized Estimates

 
  Proposal
  Change from Current 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 2017 Trustees Report.
2017-2091 16.72% 13.84% -2.88%
2034
0.05% 0.00% -0.05%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017