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Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible in 2015, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,197 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,197/20 = $59.85. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

 

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
201413.9512.67-1.29
320
0.000.000.00
201513.9712.92-1.05
306
0.000.000.00
201613.9812.89-1.09
292
0.010.00-0.01
201713.9912.91-1.08
277
0.020.00-0.02
201814.0512.93-1.11
262
0.030.00-0.03
201914.1912.95-1.24
247
0.040.00-0.04
202014.3812.96-1.42
232
0.050.00-0.05
202114.5612.98-1.58
217
0.060.00-0.06
202214.8113.01-1.79
201
0.070.00-0.07
202315.0813.03-2.05
185
0.080.00-0.08
202415.3713.06-2.31
168
0.090.00-0.09
202515.6413.07-2.57
151
0.100.00-0.09
202615.9013.09-2.81
133
0.110.00-0.10
202716.1513.11-3.04
115
0.120.01-0.11
202816.3713.13-3.25
96
0.130.01-0.12
202916.5713.14-3.43
77
0.140.01-0.13
203016.7513.15-3.60
57
0.150.01-0.14
203116.9013.16-3.74
36
0.160.01-0.15
203217.0313.17-3.85
15
0.160.01-0.16
203317.1313.18-3.94
----
0.170.01-0.16
203417.2213.19-4.03
----
0.180.01-0.17
203517.2813.20-4.08
----
0.190.01-0.18
203617.3213.20-4.12
----
0.200.01-0.19
203717.3513.20-4.14
----
0.200.01-0.19
203817.3513.21-4.14
----
0.210.01-0.20
203917.3313.21-4.12
----
0.210.01-0.20
204017.3113.21-4.10
----
0.220.01-0.21
204117.2713.21-4.07
----
0.220.01-0.21
204217.2413.21-4.03
----
0.230.01-0.22
204317.2113.21-4.01
----
0.230.01-0.22
204417.1913.21-3.99
----
0.240.01-0.23
204517.1813.21-3.97
----
0.240.01-0.23
204617.1813.21-3.96
----
0.250.01-0.23
204717.1713.21-3.95
----
0.250.01-0.24
204817.1613.21-3.95
----
0.250.01-0.24
204917.1513.21-3.94
----
0.260.01-0.25
205017.1513.21-3.94
----
0.260.01-0.25
205117.1613.22-3.94
----
0.260.01-0.25
205217.1813.22-3.96
----
0.270.01-0.25
205317.2113.22-3.99
----
0.270.01-0.26
205417.2513.22-4.02
----
0.280.01-0.26
205517.2913.23-4.06
----
0.280.01-0.26
205617.3413.23-4.11
----
0.280.01-0.27
205717.4013.23-4.16
----
0.280.01-0.27
205817.4513.24-4.21
----
0.290.01-0.27
205917.5013.24-4.26
----
0.290.01-0.27
206017.5513.25-4.30
----
0.290.01-0.28
206117.6013.25-4.35
----
0.290.01-0.28
206217.6513.25-4.40
----
0.290.02-0.28
206317.7013.26-4.44
----
0.300.02-0.28
206417.7513.26-4.49
----
0.300.02-0.28
206517.8013.26-4.53
----
0.300.02-0.28
206617.8513.26-4.58
----
0.300.02-0.29
206717.9013.27-4.63
----
0.300.02-0.29
206817.9513.27-4.68
----
0.300.02-0.29
206918.0013.27-4.72
----
0.300.02-0.29
207018.0413.28-4.77
----
0.300.02-0.29
207118.0913.28-4.81
----
0.310.02-0.29
207218.1213.28-4.84
----
0.310.02-0.29
207318.1513.28-4.87
----
0.310.02-0.29
207418.1713.29-4.89
----
0.310.02-0.29
207518.1913.29-4.90
----
0.310.02-0.29
207618.2013.29-4.91
----
0.310.02-0.29
207718.2013.29-4.91
----
0.310.02-0.29
207818.2013.29-4.91
----
0.310.02-0.29
207918.2013.29-4.91
----
0.310.02-0.29
208018.2113.29-4.92
----
0.310.02-0.29
208118.2213.29-4.93
----
0.310.02-0.29
208218.2413.29-4.95
----
0.310.02-0.29
208318.2713.29-4.98
----
0.310.02-0.29
208418.3113.29-5.02
----
0.310.02-0.29
208518.3513.30-5.05
----
0.310.02-0.29
208618.4013.30-5.10
----
0.310.02-0.29
208718.4513.30-5.15
----
0.310.02-0.29
208818.5013.31-5.20
----
0.310.02-0.29
208918.5513.31-5.25
----
0.310.02-0.30



 

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 2014 Trustees Report.
2014-2088 16.98% 13.90% -3.08%
2032
0.21% 0.01% -0.20%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 18, 2014