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Detailed Single Year Tables

Description of Proposed Provision:
B5.7: Beginning for those newly eligible in 2020, reconfigure the special minimum benefit: (a) The number of years of work (YOWs) is determined as total quarters of coverage divided by 4, ignoring any fraction. Childcare years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30+ YOWs equal to 100 percent of the monthly HHS poverty level for the year prior to eligibility. For workers between 11 and 29 YOWs, reduce the special minimum by 3 1/3 percentage points per YOW so that at 29 YOWs the minimum would be 96 2/3% of poverty, ..., down to 11 YOWs at 36 2/3% of poverty. No minimum for 10 or fewer YOWs.

 

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
202013.8512.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.000.000.00
202214.2613.02-1.24
230
0.010.00-0.01
202314.5513.05-1.50
215
0.010.00-0.01
202414.8413.08-1.75
199
0.010.00-0.01
202515.1113.10-2.01
182
0.010.00-0.01
202615.3913.14-2.25
165
0.020.00-0.02
202715.6413.15-2.48
147
0.020.00-0.02
202815.8713.17-2.71
129
0.020.00-0.02
202916.0913.18-2.91
111
0.020.00-0.02
203016.2913.20-3.10
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
203316.7713.23-3.54
35
0.030.00-0.03
203416.8813.24-3.64
15
0.030.00-0.03
203516.9613.24-3.72
----
0.030.00-0.03
203617.0213.25-3.78
----
0.030.00-0.03
203717.0613.25-3.81
----
0.030.00-0.03
203817.0613.25-3.81
----
0.040.00-0.03
203917.0313.25-3.78
----
0.040.00-0.03
204017.0013.25-3.75
----
0.040.00-0.03
204116.9513.25-3.70
----
0.040.00-0.04
204216.9013.25-3.65
----
0.040.00-0.04
204316.8413.24-3.60
----
0.040.00-0.04
204416.8013.24-3.56
----
0.040.00-0.04
204516.7613.24-3.52
----
0.040.00-0.04
204616.7213.24-3.48
----
0.040.00-0.04
204716.6813.24-3.45
----
0.040.00-0.04
204816.6513.24-3.42
----
0.040.00-0.04
204916.6313.23-3.39
----
0.040.00-0.04
205016.6013.23-3.37
----
0.040.00-0.04
205116.5913.23-3.36
----
0.040.00-0.03
205216.5913.23-3.36
----
0.040.00-0.03
205316.6013.24-3.37
----
0.040.00-0.03
205416.6213.24-3.39
----
0.030.00-0.03
205516.6513.24-3.41
----
0.030.00-0.03
205616.6913.24-3.45
----
0.030.00-0.03
205716.7313.24-3.48
----
0.030.00-0.03
205816.7713.25-3.52
----
0.030.00-0.03
205916.8113.25-3.56
----
0.030.00-0.03
206016.8613.25-3.60
----
0.030.00-0.03
206116.9013.26-3.64
----
0.030.00-0.03
206216.9513.26-3.69
----
0.030.00-0.02
206316.9913.26-3.73
----
0.020.00-0.02
206417.0413.27-3.77
----
0.020.00-0.02
206517.0913.27-3.82
----
0.020.00-0.02
206617.1413.27-3.87
----
0.020.00-0.02
206717.1913.28-3.91
----
0.020.00-0.02
206817.2413.28-3.96
----
0.020.00-0.02
206917.2913.28-4.01
----
0.020.00-0.02
207017.3413.29-4.06
----
0.020.00-0.02
207117.3913.29-4.10
----
0.020.00-0.02
207217.4313.29-4.14
----
0.020.00-0.02
207317.4613.29-4.17
----
0.020.00-0.01
207417.4913.30-4.20
----
0.010.00-0.01
207517.5213.30-4.22
----
0.010.00-0.01
207617.5313.30-4.23
----
0.010.00-0.01
207717.5413.30-4.24
----
0.010.00-0.01
207817.5413.30-4.24
----
0.010.00-0.01
207917.5313.30-4.23
----
0.010.00-0.01
208017.5213.30-4.22
----
0.010.00-0.01
208117.5213.30-4.22
----
0.010.00-0.01
208217.5113.30-4.22
----
0.010.00-0.01
208317.5213.30-4.22
----
0.010.00-0.01
208417.5413.30-4.24
----
0.010.00-0.01
208517.5613.30-4.26
----
0.010.00-0.01
208617.5913.30-4.29
----
0.010.00-0.01
208717.6213.30-4.32
----
0.010.00-0.01
208817.6613.31-4.36
----
0.010.00-0.01
208917.7113.31-4.40
----
0.010.00-0.01
209017.7513.31-4.44
----
0.010.00-0.01
209117.8013.31-4.49
----
0.010.000.00
209217.8513.32-4.53
----
0.000.000.00



 

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 16.69% 13.84% -2.85%
2034
0.02% 0.00% -0.02%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017