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Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible in 2016, increase the special minimum benefit to 100 of poverty by: (a) The number of years of work (YOWs) is determined as total quarters of coverage divided by 4, ignoring any fraction. Up to 5 additional years with a child under 6. (b) 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 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
201313.9512.69-1.26
330
0.000.000.00
201414.0412.83-1.20
315
0.000.000.00
201513.9712.86-1.10
301
0.000.000.00
201613.9112.88-1.03
286
0.000.000.00
201713.8912.90-0.98
271
0.010.00-0.01
201813.9212.93-0.99
257
0.010.00-0.01
201914.0712.95-1.12
244
0.010.00-0.01
202014.2712.97-1.30
230
0.020.00-0.02
202114.4612.99-1.47
217
0.020.00-0.02
202214.7313.03-1.70
203
0.020.00-0.02
202314.9913.04-1.95
188
0.020.00-0.02
202415.2513.06-2.19
173
0.020.00-0.02
202515.5013.07-2.43
157
0.030.00-0.02
202615.7413.09-2.65
140
0.030.00-0.02
202715.9613.10-2.86
124
0.030.00-0.03
202816.1613.11-3.05
106
0.030.00-0.03
202916.3513.12-3.23
88
0.030.00-0.03
203016.5213.13-3.39
69
0.030.00-0.03
203116.6613.14-3.52
50
0.030.00-0.03
203216.7813.15-3.63
29
0.030.00-0.03
203316.8913.16-3.73
9
0.030.00-0.03
203416.9713.16-3.81
----
0.030.00-0.03
203517.0213.17-3.85
----
0.030.00-0.03
203617.0413.17-3.87
----
0.030.00-0.03
203717.0613.17-3.89
----
0.040.00-0.03
203817.0513.17-3.88
----
0.040.00-0.03
203917.0313.17-3.86
----
0.040.00-0.03
204017.0013.17-3.83
----
0.040.00-0.04
204116.9713.17-3.79
----
0.040.00-0.04
204216.9313.17-3.76
----
0.040.00-0.04
204316.9013.17-3.73
----
0.040.00-0.04
204416.8813.17-3.71
----
0.040.00-0.04
204516.8713.17-3.69
----
0.040.00-0.04
204616.8613.17-3.68
----
0.040.00-0.04
204716.8413.17-3.67
----
0.040.00-0.03
204816.8313.17-3.66
----
0.040.00-0.03
204916.8213.17-3.65
----
0.030.00-0.03
205016.8213.17-3.65
----
0.030.00-0.03
205116.8213.17-3.65
----
0.030.00-0.03
205216.8413.17-3.67
----
0.030.00-0.03
205316.8713.18-3.69
----
0.030.00-0.03
205416.9013.18-3.72
----
0.030.00-0.03
205516.9413.18-3.76
----
0.030.00-0.03
205616.9813.18-3.80
----
0.030.00-0.03
205717.0313.19-3.84
----
0.030.00-0.03
205817.0813.19-3.89
----
0.030.00-0.02
205917.1213.19-3.93
----
0.020.00-0.02
206017.1613.20-3.97
----
0.020.00-0.02
206117.2113.20-4.01
----
0.020.00-0.02
206217.2513.20-4.05
----
0.020.00-0.02
206317.2913.20-4.09
----
0.020.00-0.02
206417.3313.21-4.13
----
0.020.00-0.02
206517.3813.21-4.17
----
0.020.00-0.02
206617.4213.21-4.21
----
0.020.00-0.02
206717.4713.21-4.25
----
0.020.00-0.02
206817.5113.22-4.29
----
0.020.00-0.02
206917.5613.22-4.34
----
0.020.00-0.01
207017.6013.22-4.38
----
0.010.00-0.01
207117.6413.22-4.41
----
0.010.00-0.01
207217.6713.23-4.44
----
0.010.00-0.01
207317.6913.23-4.47
----
0.010.00-0.01
207417.7213.23-4.49
----
0.010.00-0.01
207517.7313.23-4.50
----
0.010.00-0.01
207617.7413.23-4.51
----
0.010.00-0.01
207717.7513.23-4.51
----
0.010.00-0.01
207817.7513.23-4.52
----
0.010.00-0.01
207917.7613.23-4.52
----
0.010.00-0.01
208017.7713.23-4.54
----
0.010.00-0.01
208117.7813.23-4.55
----
0.010.00-0.01
208217.8113.23-4.57
----
0.010.00-0.01
208317.8413.24-4.60
----
0.010.00-0.01
208417.8813.24-4.64
----
0.010.00-0.01
208517.9213.24-4.68
----
0.010.00-0.01
208617.9713.24-4.72
----
0.010.00-0.01
208718.0213.25-4.77
----
0.010.00-0.01
208818.0713.25-4.82
----
0.010.000.00



 

Summarized Estimates

 
  Proposal
  Change from Present 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 2013 Trustees Report.
2013-2087 16.62% 13.88% -2.74%
2033
0.02% 0.00% -0.02%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 11, 2013