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 to be either a year in which 4 quarters of coverage are earned or a child is in care. 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 $1,216 in 2014). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,216/20 = $60.80. (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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2015	14.13	12.82	-1.31	308	0.00	0.00	0.00
2016	13.89	12.88	-1.00	297	0.01	0.00	-0.01
2017	13.91	12.91	-1.00	280	0.02	0.00	-0.02
2018	14.00	12.94	-1.06	263	0.03	0.00	-0.03
2019	14.13	12.95	-1.18	247	0.05	0.00	-0.04
2020	14.29	12.97	-1.32	232	0.06	0.00	-0.06
2021	14.42	12.99	-1.43	216	0.08	0.00	-0.07
2022	14.61	13.02	-1.59	201	0.09	0.00	-0.09
2023	14.83	13.04	-1.79	185	0.10	0.00	-0.10
2024	15.08	13.07	-2.01	169	0.12	0.01	-0.11
2025	15.30	13.09	-2.21	153	0.13	0.01	-0.13
2026	15.51	13.10	-2.41	137	0.15	0.01	-0.14
2027	15.72	13.12	-2.60	120	0.16	0.01	-0.15
2028	15.92	13.14	-2.79	103	0.17	0.01	-0.16
2029	16.11	13.15	-2.96	86	0.18	0.01	-0.18
2030	16.29	13.16	-3.13	68	0.19	0.01	-0.19
2031	16.45	13.18	-3.27	50	0.21	0.01	-0.20
2032	16.59	13.19	-3.40	31	0.22	0.01	-0.21
2033	16.70	13.20	-3.51	11	0.23	0.01	-0.21
2034	16.79	13.20	-3.58	----	0.23	0.01	-0.22
2035	16.86	13.21	-3.65	----	0.24	0.01	-0.23
2036	16.93	13.22	-3.71	----	0.25	0.01	-0.24
2037	16.98	13.22	-3.75	----	0.26	0.01	-0.24
2038	16.99	13.22	-3.77	----	0.26	0.01	-0.25
2039	17.00	13.23	-3.77	----	0.27	0.01	-0.26
2040	16.99	13.23	-3.76	----	0.27	0.01	-0.26
2041	16.97	13.23	-3.74	----	0.28	0.01	-0.27
2042	16.95	13.23	-3.72	----	0.28	0.01	-0.27
2043	16.93	13.23	-3.70	----	0.29	0.01	-0.28
2044	16.91	13.23	-3.68	----	0.29	0.01	-0.28
2045	16.90	13.23	-3.67	----	0.30	0.02	-0.29
2046	16.88	13.23	-3.65	----	0.31	0.02	-0.29
2047	16.87	13.23	-3.64	----	0.31	0.02	-0.30
2048	16.87	13.23	-3.63	----	0.32	0.02	-0.30
2049	16.86	13.24	-3.63	----	0.32	0.02	-0.31
2050	16.87	13.24	-3.63	----	0.33	0.02	-0.31
2051	16.89	13.24	-3.65	----	0.33	0.02	-0.32
2052	16.91	13.24	-3.67	----	0.34	0.02	-0.32
2053	16.95	13.24	-3.70	----	0.34	0.02	-0.32
2054	16.99	13.25	-3.74	----	0.35	0.02	-0.33
2055	17.04	13.25	-3.79	----	0.35	0.02	-0.33
2056	17.09	13.25	-3.84	----	0.35	0.02	-0.33
2057	17.15	13.26	-3.89	----	0.36	0.02	-0.34
2058	17.21	13.26	-3.94	----	0.36	0.02	-0.34
2059	17.26	13.27	-3.99	----	0.36	0.02	-0.34
2060	17.32	13.27	-4.04	----	0.36	0.02	-0.34
2061	17.37	13.27	-4.10	----	0.37	0.02	-0.35
2062	17.42	13.28	-4.15	----	0.37	0.02	-0.35
2063	17.48	13.28	-4.20	----	0.37	0.02	-0.35
2064	17.53	13.29	-4.25	----	0.37	0.02	-0.35
2065	17.59	13.29	-4.30	----	0.37	0.02	-0.35
2066	17.65	13.29	-4.35	----	0.37	0.02	-0.36
2067	17.71	13.30	-4.41	----	0.38	0.02	-0.36
2068	17.77	13.30	-4.47	----	0.38	0.02	-0.36
2069	17.82	13.30	-4.52	----	0.38	0.02	-0.36
2070	17.88	13.31	-4.57	----	0.38	0.02	-0.36
2071	17.93	13.31	-4.62	----	0.38	0.02	-0.36
2072	17.98	13.31	-4.66	----	0.38	0.02	-0.36
2073	18.02	13.32	-4.70	----	0.38	0.02	-0.36
2074	18.05	13.32	-4.73	----	0.38	0.02	-0.36
2075	18.07	13.32	-4.75	----	0.38	0.02	-0.36
2076	18.08	13.32	-4.76	----	0.38	0.02	-0.36
2077	18.09	13.32	-4.76	----	0.38	0.02	-0.36
2078	18.09	13.32	-4.77	----	0.38	0.02	-0.36
2079	18.09	13.32	-4.77	----	0.38	0.02	-0.36
2080	18.09	13.32	-4.77	----	0.38	0.02	-0.36
2081	18.10	13.32	-4.77	----	0.38	0.02	-0.36
2082	18.11	13.32	-4.78	----	0.38	0.02	-0.36
2083	18.13	13.32	-4.80	----	0.38	0.02	-0.36
2084	18.16	13.33	-4.83	----	0.38	0.02	-0.36
2085	18.19	13.33	-4.86	----	0.38	0.02	-0.36
2086	18.23	13.33	-4.90	----	0.38	0.02	-0.36
2087	18.27	13.33	-4.94	----	0.38	0.02	-0.36
2088	18.31	13.34	-4.98	----	0.38	0.02	-0.36
2089	18.36	13.34	-5.02	----	0.39	0.02	-0.37
2090	18.40	13.34	-5.06	----	0.39	0.02	-0.37

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2015 Trustees Report.
2015-2089	16.81%	13.88%	-2.94%	2033	0.27%	0.01%	-0.25%

¹ Under present law, the year of Trust Fund reserve depletion is 2034.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates