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Detailed Single Year Tables

Description of Proposed Provision:
B5.3: Beginning for those newly eligible in 2017, 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 $1,226 in 2015). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,226/20 = $61.30. (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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.81
293
0.000.000.00
201813.8712.96-0.91
277
0.010.00-0.01
201914.0112.97-1.04
261
0.030.00-0.02
202014.1712.98-1.19
245
0.040.00-0.04
202114.3213.00-1.31
230
0.050.00-0.05
202214.5513.04-1.52
214
0.060.00-0.06
202314.8313.06-1.77
197
0.070.00-0.07
202415.1113.10-2.01
180
0.090.00-0.08
202515.3813.11-2.27
162
0.100.00-0.09
202615.5813.13-2.45
145
0.110.01-0.11
202715.7713.15-2.62
127
0.120.01-0.12
202815.9513.16-2.78
110
0.130.01-0.13
202916.1113.18-2.93
92
0.140.01-0.14
203016.2513.19-3.07
75
0.150.01-0.15
203116.3813.20-3.19
56
0.160.01-0.15
203216.5013.21-3.29
38
0.170.01-0.16
203316.5913.22-3.37
18
0.180.01-0.17
203416.6513.22-3.43
----
0.190.01-0.18
203516.6913.23-3.46
----
0.190.01-0.18
203616.7613.23-3.52
----
0.200.01-0.19
203716.8113.24-3.57
----
0.210.01-0.20
203816.8313.24-3.59
----
0.210.01-0.20
203916.8313.24-3.58
----
0.220.01-0.21
204016.8113.24-3.57
----
0.220.01-0.21
204116.7913.24-3.54
----
0.230.01-0.21
204216.7613.24-3.52
----
0.230.01-0.22
204316.7313.24-3.49
----
0.230.01-0.22
204416.7113.24-3.46
----
0.240.01-0.23
204516.6913.24-3.45
----
0.240.01-0.23
204616.6713.24-3.43
----
0.250.01-0.23
204716.6513.24-3.41
----
0.250.01-0.24
204816.6413.24-3.40
----
0.260.01-0.24
204916.6313.25-3.39
----
0.260.01-0.25
205016.6213.25-3.38
----
0.270.01-0.25
205116.6313.25-3.38
----
0.270.01-0.26
205216.6513.25-3.40
----
0.270.01-0.26
205316.6713.25-3.42
----
0.280.01-0.26
205416.7113.25-3.45
----
0.280.01-0.27
205516.7513.26-3.49
----
0.290.02-0.27
205616.8013.26-3.53
----
0.290.02-0.27
205716.8513.27-3.58
----
0.290.02-0.28
205816.9013.27-3.63
----
0.290.02-0.28
205916.9513.27-3.68
----
0.300.02-0.28
206017.0113.28-3.73
----
0.300.02-0.28
206117.0613.28-3.78
----
0.300.02-0.28
206217.1113.29-3.82
----
0.300.02-0.29
206317.1613.29-3.87
----
0.300.02-0.29
206417.2113.29-3.92
----
0.310.02-0.29
206517.2613.30-3.97
----
0.310.02-0.29
206617.3213.30-4.02
----
0.310.02-0.29
206717.3713.30-4.07
----
0.310.02-0.29
206817.4313.31-4.12
----
0.310.02-0.30
206917.4813.31-4.17
----
0.310.02-0.30
207017.5313.31-4.22
----
0.320.02-0.30
207117.5813.32-4.26
----
0.320.02-0.30
207217.6213.32-4.30
----
0.320.02-0.30
207317.6613.32-4.34
----
0.320.02-0.30
207417.6913.33-4.36
----
0.320.02-0.30
207517.7113.33-4.38
----
0.320.02-0.30
207617.7213.33-4.40
----
0.320.02-0.30
207717.7313.33-4.40
----
0.320.02-0.30
207817.7313.33-4.40
----
0.320.02-0.30
207917.7213.33-4.40
----
0.320.02-0.30
208017.7213.33-4.39
----
0.320.02-0.30
208117.7213.33-4.39
----
0.320.02-0.30
208217.7313.33-4.40
----
0.320.02-0.30
208317.7413.33-4.41
----
0.320.02-0.30
208417.7613.33-4.43
----
0.320.02-0.30
208517.7913.33-4.46
----
0.320.02-0.30
208617.8313.33-4.49
----
0.320.02-0.30
208717.8613.34-4.53
----
0.320.02-0.30
208817.9113.34-4.57
----
0.320.02-0.31
208917.9513.34-4.61
----
0.320.02-0.31
209018.0013.35-4.65
----
0.320.02-0.31
209118.0513.35-4.70
----
0.330.02-0.31



 

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 2016 Trustees Report.
2016-2090 16.73% 13.86% -2.87%
2033
0.23% 0.01% -0.22%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016