Detailed Single Year Tables
Description of Proposed Provision:
B5.7: Beginning for those newly eligible in 2026, 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 |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.87 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.04 | 12.97 | -2.07 | 168 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.24 | 13.08 | -2.15 | 149 | 0.00 | 0.00 | -0.00 | ||
| 2027 | 15.39 | 13.09 | -2.29 | 131 | 0.00 | 0.00 | -0.00 | ||
| 2028 | 15.56 | 13.13 | -2.43 | 114 | 0.01 | 0.00 | -0.01 | ||
| 2029 | 15.73 | 13.16 | -2.57 | 96 | 0.01 | 0.00 | -0.01 | ||
| 2030 | 15.88 | 13.19 | -2.70 | 78 | 0.01 | 0.00 | -0.01 | ||
| 2031 | 16.02 | 13.21 | -2.80 | 60 | 0.01 | 0.00 | -0.01 | ||
| 2032 | 16.16 | 13.24 | -2.92 | 43 | 0.02 | 0.00 | -0.01 | ||
| 2033 | 16.29 | 13.25 | -3.04 | 25 | 0.02 | 0.00 | -0.02 | ||
| 2034 | 16.40 | 13.26 | -3.14 | 6 | 0.02 | 0.00 | -0.02 | ||
| 2035 | 16.50 | 13.27 | -3.23 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2036 | 16.58 | 13.28 | -3.31 | ---- | 0.03 | 0.00 | -0.02 | ||
| 2037 | 16.66 | 13.28 | -3.38 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2038 | 16.73 | 13.29 | -3.44 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2039 | 16.78 | 13.29 | -3.48 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2040 | 16.81 | 13.30 | -3.52 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2041 | 16.84 | 13.30 | -3.54 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2042 | 16.85 | 13.30 | -3.55 | ---- | 0.04 | 0.00 | -0.03 | ||
| 2043 | 16.87 | 13.31 | -3.56 | ---- | 0.04 | 0.00 | -0.03 | ||
| 2044 | 16.88 | 13.31 | -3.58 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2045 | 16.90 | 13.31 | -3.59 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2046 | 16.92 | 13.31 | -3.61 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2047 | 16.94 | 13.31 | -3.63 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2048 | 16.97 | 13.32 | -3.65 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2049 | 17.00 | 13.32 | -3.68 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2050 | 17.03 | 13.32 | -3.71 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2051 | 17.06 | 13.33 | -3.73 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2052 | 17.10 | 13.33 | -3.77 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2053 | 17.15 | 13.33 | -3.82 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2054 | 17.21 | 13.34 | -3.87 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2055 | 17.27 | 13.34 | -3.93 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2056 | 17.34 | 13.35 | -3.99 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2057 | 17.42 | 13.36 | -4.06 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2058 | 17.50 | 13.36 | -4.14 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2059 | 17.58 | 13.37 | -4.21 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2060 | 17.66 | 13.38 | -4.28 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2061 | 17.73 | 13.38 | -4.35 | ---- | 0.04 | 0.00 | -0.04 | ||
| 2062 | 17.80 | 13.39 | -4.41 | ---- | 0.04 | 0.00 | -0.03 | ||
| 2063 | 17.86 | 13.39 | -4.47 | ---- | 0.04 | 0.00 | -0.03 | ||
| 2064 | 17.92 | 13.40 | -4.52 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2065 | 17.98 | 13.40 | -4.58 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2066 | 18.04 | 13.41 | -4.63 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2067 | 18.09 | 13.41 | -4.68 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2068 | 18.15 | 13.42 | -4.73 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2069 | 18.20 | 13.42 | -4.78 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2070 | 18.26 | 13.42 | -4.83 | ---- | 0.03 | 0.00 | -0.03 | ||
| 2071 | 18.31 | 13.43 | -4.88 | ---- | 0.03 | 0.00 | -0.02 | ||
| 2072 | 18.36 | 13.43 | -4.93 | ---- | 0.03 | 0.00 | -0.02 | ||
| 2073 | 18.41 | 13.44 | -4.97 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2074 | 18.45 | 13.44 | -5.01 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2075 | 18.49 | 13.44 | -5.04 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2076 | 18.51 | 13.45 | -5.06 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2077 | 18.52 | 13.45 | -5.07 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2078 | 18.52 | 13.45 | -5.07 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2079 | 18.51 | 13.45 | -5.06 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2080 | 18.48 | 13.45 | -5.04 | ---- | 0.02 | 0.00 | -0.02 | ||
| 2081 | 18.45 | 13.45 | -5.00 | ---- | 0.02 | 0.00 | -0.01 | ||
| 2082 | 18.41 | 13.44 | -4.96 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2083 | 18.36 | 13.44 | -4.92 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2084 | 18.30 | 13.44 | -4.86 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2085 | 18.24 | 13.43 | -4.80 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2086 | 18.17 | 13.43 | -4.74 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2087 | 18.10 | 13.43 | -4.67 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2088 | 18.03 | 13.42 | -4.61 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2089 | 17.96 | 13.42 | -4.55 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2090 | 17.90 | 13.41 | -4.49 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2091 | 17.85 | 13.41 | -4.44 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2092 | 17.81 | 13.41 | -4.40 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2093 | 17.78 | 13.41 | -4.37 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2094 | 17.76 | 13.40 | -4.36 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2095 | 17.75 | 13.40 | -4.35 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2096 | 17.75 | 13.40 | -4.35 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2097 | 17.76 | 13.41 | -4.35 | ---- | 0.01 | 0.00 | -0.01 | ||
| 2098 | 17.78 | 13.41 | -4.37 | ---- | 0.00 | 0.00 | -0.00 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2023-2097 | 17.41% | 13.78% | -3.63% | 2034 | 0.02% | 0.00% | -0.02% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2023 Trustees Report.