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Detailed Single Year Tables

Description of Proposed Provision:
B5.7: Beginning for those newly eligible in 2019, reconfigure the special minimum benefit: (a) The number of years of work (YOWs) is determined as total quarters of coverage divided by 4, ignoring any fraction. Childcare years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, 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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1412.98-1.16
246
0.000.000.00
202114.2813.00-1.28
231
0.010.00-0.01
202214.5013.04-1.47
216
0.010.00-0.01
202314.7713.06-1.71
199
0.010.00-0.01
202415.0413.09-1.95
182
0.020.00-0.02
202515.3113.11-2.19
165
0.020.00-0.02
202615.4913.13-2.37
148
0.020.00-0.02
202715.6713.14-2.53
131
0.030.00-0.02
202815.8413.16-2.68
114
0.030.00-0.03
202916.0013.17-2.83
97
0.030.00-0.03
203016.1313.18-2.95
80
0.030.00-0.03
203116.2513.19-3.06
62
0.030.00-0.03
203216.3613.20-3.16
44
0.030.00-0.03
203316.4413.21-3.23
25
0.030.00-0.03
203416.5013.21-3.28
6
0.030.00-0.03
203516.5313.22-3.31
----
0.040.00-0.03
203616.5913.22-3.37
----
0.040.00-0.03
203716.6413.23-3.41
----
0.040.00-0.03
203816.6513.23-3.42
----
0.040.00-0.03
203916.6513.23-3.41
----
0.040.00-0.03
204016.6313.23-3.39
----
0.040.00-0.03
204116.6013.23-3.36
----
0.040.00-0.03
204216.5713.23-3.34
----
0.040.00-0.03
204316.5413.23-3.30
----
0.040.00-0.03
204416.5013.23-3.27
----
0.040.00-0.03
204516.4913.23-3.25
----
0.040.00-0.03
204616.4613.23-3.23
----
0.040.00-0.03
204716.4413.23-3.20
----
0.040.00-0.03
204816.4213.23-3.19
----
0.040.00-0.03
204916.4013.23-3.17
----
0.030.00-0.03
205016.3913.23-3.16
----
0.030.00-0.03
205116.3913.23-3.16
----
0.030.00-0.03
205216.4013.24-3.17
----
0.030.00-0.03
205316.4313.24-3.19
----
0.030.00-0.03
205416.4613.24-3.21
----
0.030.00-0.03
205516.4913.24-3.25
----
0.030.00-0.03
205616.5413.25-3.29
----
0.030.00-0.03
205716.5813.25-3.33
----
0.030.00-0.03
205816.6313.26-3.38
----
0.030.00-0.03
205916.6813.26-3.42
----
0.030.00-0.02
206016.7313.26-3.47
----
0.020.00-0.02
206116.7813.27-3.51
----
0.020.00-0.02
206216.8313.27-3.56
----
0.020.00-0.02
206316.8813.27-3.60
----
0.020.00-0.02
206416.9313.28-3.65
----
0.020.00-0.02
206516.9713.28-3.69
----
0.020.00-0.02
206617.0313.28-3.74
----
0.020.00-0.02
206717.0813.29-3.79
----
0.020.00-0.02
206817.1313.29-3.84
----
0.020.00-0.02
206917.1813.29-3.89
----
0.020.00-0.02
207017.2313.30-3.93
----
0.020.00-0.01
207117.2813.30-3.98
----
0.010.00-0.01
207217.3213.30-4.01
----
0.010.00-0.01
207317.3513.31-4.05
----
0.010.00-0.01
207417.3813.31-4.07
----
0.010.00-0.01
207517.4013.31-4.09
----
0.010.00-0.01
207617.4213.31-4.10
----
0.010.00-0.01
207717.4213.31-4.11
----
0.010.00-0.01
207817.4213.31-4.11
----
0.010.00-0.01
207917.4113.31-4.10
----
0.010.00-0.01
208017.4113.31-4.10
----
0.010.00-0.01
208117.4113.31-4.10
----
0.010.00-0.01
208217.4113.31-4.10
----
0.010.00-0.01
208317.4313.31-4.11
----
0.010.00-0.01
208417.4513.31-4.13
----
0.010.00-0.01
208517.4813.32-4.16
----
0.010.00-0.01
208617.5113.32-4.19
----
0.010.00-0.01
208717.5513.32-4.23
----
0.010.00-0.01
208817.5913.32-4.27
----
0.010.000.00
208917.6413.33-4.31
----
0.000.000.00
209017.6813.33-4.35
----
0.000.000.00
209117.7313.33-4.39
----
0.000.000.00



 

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 2016 Trustees Report.
2016-2090 16.52% 13.85% -2.68%
2034
0.02% 0.00% -0.02%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016