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Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible in 2016, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which either 20 percent of the "old law maximum" is earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level (about $1,238 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,238/11 = $112.60. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.

 

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
201613.9712.89-1.08
292
0.000.000.00
201713.9812.91-1.07
277
0.000.000.00
201814.0312.93-1.09
262
0.010.00-0.01
201914.1612.95-1.22
247
0.010.00-0.01
202014.3512.96-1.39
233
0.020.00-0.02
202114.5312.98-1.55
218
0.030.00-0.02
202214.7713.01-1.76
202
0.030.00-0.03
202315.0413.03-2.01
186
0.030.00-0.03
202415.3213.05-2.26
170
0.040.00-0.04
202515.5913.07-2.51
153
0.040.00-0.04
202615.8413.09-2.75
135
0.050.00-0.05
202716.0813.11-2.97
117
0.050.00-0.05
202816.3013.12-3.18
99
0.060.00-0.06
202916.5013.14-3.36
80
0.060.00-0.06
203016.6713.15-3.52
61
0.070.00-0.06
203116.8213.16-3.66
40
0.070.00-0.07
203216.9413.17-3.77
19
0.070.00-0.07
203317.0313.18-3.85
----
0.080.00-0.07
203417.1113.18-3.93
----
0.080.00-0.08
203517.1713.19-3.98
----
0.080.00-0.08
203617.2113.19-4.02
----
0.090.00-0.08
203717.2313.20-4.03
----
0.090.00-0.08
203817.2313.20-4.03
----
0.090.00-0.09
203917.2113.20-4.01
----
0.090.00-0.09
204017.1813.20-3.98
----
0.090.00-0.09
204117.1513.20-3.95
----
0.100.00-0.09
204217.1113.20-3.91
----
0.100.00-0.10
204317.0813.20-3.88
----
0.100.00-0.10
204417.0613.20-3.86
----
0.100.00-0.10
204517.0513.20-3.84
----
0.100.00-0.10
204617.0413.20-3.83
----
0.110.00-0.10
204717.0213.20-3.82
----
0.110.00-0.10
204817.0113.20-3.81
----
0.110.00-0.11
204917.0013.20-3.80
----
0.110.00-0.11
205017.0013.21-3.80
----
0.110.00-0.11
205117.0113.21-3.80
----
0.120.00-0.11
205217.0313.21-3.82
----
0.120.00-0.11
205317.0613.21-3.84
----
0.120.00-0.11
205417.0913.21-3.88
----
0.120.00-0.12
205517.1313.22-3.92
----
0.120.00-0.12
205617.1813.22-3.96
----
0.120.00-0.12
205717.2413.22-4.01
----
0.120.00-0.12
205817.2913.23-4.06
----
0.120.00-0.12
205917.3413.23-4.10
----
0.130.00-0.12
206017.3913.24-4.15
----
0.130.00-0.12
206117.4313.24-4.20
----
0.130.00-0.12
206217.4813.24-4.24
----
0.130.00-0.12
206317.5313.24-4.29
----
0.130.01-0.12
206417.5813.25-4.33
----
0.130.01-0.13
206517.6313.25-4.38
----
0.130.01-0.13
206617.6813.25-4.42
----
0.130.01-0.13
206717.7313.26-4.47
----
0.130.01-0.13
206817.7813.26-4.52
----
0.130.01-0.13
206917.8313.26-4.56
----
0.130.01-0.13
207017.8713.27-4.61
----
0.130.01-0.13
207117.9213.27-4.65
----
0.140.01-0.13
207217.9513.27-4.68
----
0.140.01-0.13
207317.9813.27-4.71
----
0.140.01-0.13
207418.0013.28-4.73
----
0.140.01-0.13
207518.0213.28-4.74
----
0.140.01-0.13
207618.0313.28-4.75
----
0.140.01-0.13
207718.0313.28-4.75
----
0.140.01-0.13
207818.0313.28-4.75
----
0.140.01-0.13
207918.0313.28-4.76
----
0.140.01-0.13
208018.0413.28-4.76
----
0.140.01-0.13
208118.0513.28-4.77
----
0.140.01-0.13
208218.0713.28-4.79
----
0.140.01-0.13
208318.1013.28-4.82
----
0.140.01-0.13
208418.1413.28-4.86
----
0.140.01-0.13
208518.1813.29-4.90
----
0.140.01-0.13
208618.2313.29-4.94
----
0.140.01-0.13
208718.2813.29-4.99
----
0.140.01-0.14
208818.3313.30-5.04
----
0.140.01-0.14
208918.3813.30-5.09
----
0.140.01-0.14



 

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 16.86% 13.89% -2.97%
2032
0.09% 0.00% -0.09%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 18, 2014