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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2011, increase the special minimum benefit by making the following changes: (a) A year of coverage is defined to be either a childcare year or a year in which 4 quarters of coverage are earned. 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 $1,128 in 2009). The PIA per year of coverage (after the first 10 years) would be $1,128/20 = $56.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts, so that the special minimum keeps up with the wage-indexed benefit formula.

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

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

Cost
rate
Income
rate
Annual
balance
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.13
353
0.010.00-0.01
201212.8612.870.01
350
0.020.00-0.02
201312.8612.900.04
344
0.040.00-0.04
201412.9212.920.01
339
0.050.00-0.05
201513.0512.94-0.11
333
0.070.00-0.07
201613.1912.97-0.23
326
0.090.00-0.09
201713.4112.99-0.42
319
0.110.00-0.10
201813.6713.02-0.65
311
0.130.01-0.12
201913.9813.03-0.95
302
0.150.01-0.14
202014.3113.06-1.26
292
0.170.01-0.16
202114.6413.08-1.56
280
0.180.01-0.18
202214.9513.09-1.86
267
0.200.01-0.19
202315.2513.11-2.14
253
0.220.01-0.21
202415.5213.13-2.40
238
0.240.01-0.23
202515.7913.15-2.64
222
0.250.01-0.24
202616.0313.16-2.87
206
0.270.01-0.26
202716.2413.17-3.07
188
0.290.01-0.27
202816.4313.19-3.24
170
0.300.01-0.28
202916.6013.20-3.40
152
0.310.02-0.30
203016.7313.21-3.52
132
0.320.02-0.31
203116.8413.22-3.62
112
0.340.02-0.32
203216.9413.23-3.71
92
0.350.02-0.33
203317.0113.23-3.78
72
0.360.02-0.34
203417.0713.24-3.83
50
0.360.02-0.35
203517.1013.24-3.86
29
0.370.02-0.35
203617.1113.25-3.87
7
0.380.02-0.36
203717.1213.25-3.87
----
0.380.02-0.36
203817.1013.25-3.85
----
0.390.02-0.37
203917.0713.25-3.82
----
0.390.02-0.37
204017.0313.25-3.78
----
0.390.02-0.37
204116.9913.25-3.74
----
0.390.02-0.37
204216.9513.25-3.70
----
0.390.02-0.37
204316.9113.25-3.66
----
0.390.02-0.37
204416.8713.25-3.62
----
0.400.02-0.38
204516.8413.25-3.60
----
0.400.02-0.38
204616.8213.25-3.57
----
0.400.02-0.38
204716.8013.25-3.55
----
0.400.02-0.38
204816.7813.25-3.53
----
0.410.02-0.38
204916.7613.25-3.51
----
0.410.02-0.39
205016.7413.25-3.50
----
0.410.02-0.39
205116.7413.25-3.49
----
0.410.02-0.39
205216.7413.25-3.49
----
0.420.02-0.39
205316.7513.25-3.50
----
0.420.02-0.40
205416.7713.25-3.52
----
0.420.02-0.40
205516.7913.25-3.54
----
0.420.02-0.40
205616.8213.26-3.56
----
0.430.02-0.40
205716.8413.26-3.59
----
0.430.02-0.41
205816.8713.26-3.61
----
0.430.02-0.41
205916.8913.26-3.63
----
0.430.02-0.41
206016.9213.27-3.65
----
0.430.02-0.41
206116.9413.27-3.67
----
0.430.02-0.41
206216.9713.27-3.70
----
0.440.02-0.41
206317.0013.27-3.72
----
0.440.02-0.41
206417.0213.27-3.75
----
0.440.02-0.41
206517.0613.28-3.78
----
0.440.02-0.42
206617.0913.28-3.81
----
0.440.02-0.42
206717.1313.28-3.85
----
0.440.02-0.42
206817.1713.29-3.88
----
0.440.02-0.42
206917.2113.29-3.92
----
0.440.02-0.42
207017.2513.29-3.96
----
0.450.02-0.42
207117.3013.29-4.00
----
0.450.02-0.42
207217.3413.30-4.04
----
0.450.02-0.42
207317.3913.30-4.09
----
0.450.02-0.42
207417.4313.30-4.13
----
0.450.02-0.43
207517.4813.31-4.17
----
0.450.02-0.43
207617.5213.31-4.21
----
0.450.02-0.43
207717.5713.31-4.26
----
0.450.02-0.43
207817.6213.32-4.30
----
0.450.02-0.43
207917.6613.32-4.34
----
0.460.02-0.43
208017.7113.32-4.39
----
0.460.02-0.43
208117.7513.32-4.43
----
0.460.02-0.43
208217.8013.33-4.47
----
0.460.02-0.43
208317.8413.33-4.51
----
0.460.03-0.44
208417.8913.33-4.55
----
0.460.03-0.44
208517.9313.34-4.59
----
0.460.03-0.44



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 16.25% 14.02% -2.23%
2036
0.32% 0.02% -0.31%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 2, 2011