Detailed Single Year Tables
Description of Proposed Provision:
B5.2: Beginning for those newly eligible in 2025, 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 $1,519 in 2023). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,519/20 = $75.95. (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 Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.01 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | -0.00 | ||
| 2026 | 15.21 | 13.07 | -2.14 | 152 | 0.00 | 0.00 | -0.00 | ||
| 2027 | 15.37 | 13.11 | -2.26 | 134 | 0.01 | 0.00 | -0.01 | ||
| 2028 | 15.43 | 13.13 | -2.30 | 117 | 0.01 | 0.00 | -0.01 | ||
| 2029 | 15.49 | 13.16 | -2.32 | 100 | 0.02 | 0.00 | -0.02 | ||
| 2030 | 15.55 | 13.18 | -2.37 | 84 | 0.02 | 0.00 | -0.02 | ||
| 2031 | 15.60 | 13.20 | -2.40 | 68 | 0.03 | 0.00 | -0.03 | ||
| 2032 | 15.64 | 13.22 | -2.41 | 52 | 0.03 | 0.00 | -0.03 | ||
| 2033 | 15.70 | 13.27 | -2.43 | 37 | 0.04 | 0.00 | -0.04 | ||
| 2034 | 15.82 | 13.28 | -2.54 | 21 | 0.05 | 0.00 | -0.04 | ||
| 2035 | 15.94 | 13.29 | -2.65 | 6 | 0.05 | 0.00 | -0.05 | ||
| 2036 | 16.05 | 13.30 | -2.75 | — | 0.06 | 0.00 | -0.05 | ||
| 2037 | 16.16 | 13.31 | -2.85 | — | 0.06 | 0.00 | -0.06 | ||
| 2038 | 16.25 | 13.32 | -2.93 | — | 0.07 | 0.00 | -0.07 | ||
| 2039 | 16.33 | 13.32 | -3.00 | — | 0.08 | 0.00 | -0.07 | ||
| 2040 | 16.40 | 13.33 | -3.07 | — | 0.08 | 0.00 | -0.08 | ||
| 2041 | 16.47 | 13.33 | -3.14 | — | 0.09 | 0.00 | -0.08 | ||
| 2042 | 16.53 | 13.34 | -3.19 | — | 0.09 | 0.01 | -0.09 | ||
| 2043 | 16.58 | 13.34 | -3.24 | — | 0.10 | 0.01 | -0.09 | ||
| 2044 | 16.62 | 13.35 | -3.28 | — | 0.11 | 0.01 | -0.10 | ||
| 2045 | 16.66 | 13.35 | -3.31 | — | 0.11 | 0.01 | -0.11 | ||
| 2046 | 16.70 | 13.35 | -3.35 | — | 0.12 | 0.01 | -0.11 | ||
| 2047 | 16.75 | 13.36 | -3.39 | — | 0.12 | 0.01 | -0.12 | ||
| 2048 | 16.79 | 13.36 | -3.43 | — | 0.13 | 0.01 | -0.12 | ||
| 2049 | 16.84 | 13.37 | -3.48 | — | 0.14 | 0.01 | -0.13 | ||
| 2050 | 16.90 | 13.37 | -3.53 | — | 0.14 | 0.01 | -0.13 | ||
| 2051 | 16.96 | 13.38 | -3.58 | — | 0.15 | 0.01 | -0.14 | ||
| 2052 | 17.02 | 13.38 | -3.64 | — | 0.15 | 0.01 | -0.14 | ||
| 2053 | 17.09 | 13.39 | -3.70 | — | 0.16 | 0.01 | -0.15 | ||
| 2054 | 17.16 | 13.39 | -3.77 | — | 0.16 | 0.01 | -0.15 | ||
| 2055 | 17.24 | 13.40 | -3.84 | — | 0.17 | 0.01 | -0.16 | ||
| 2056 | 17.33 | 13.41 | -3.92 | — | 0.17 | 0.01 | -0.16 | ||
| 2057 | 17.42 | 13.41 | -4.00 | — | 0.18 | 0.01 | -0.16 | ||
| 2058 | 17.51 | 13.42 | -4.09 | — | 0.18 | 0.01 | -0.17 | ||
| 2059 | 17.60 | 13.43 | -4.17 | — | 0.18 | 0.01 | -0.17 | ||
| 2060 | 17.69 | 13.44 | -4.25 | — | 0.19 | 0.01 | -0.17 | ||
| 2061 | 17.77 | 13.44 | -4.33 | — | 0.19 | 0.01 | -0.18 | ||
| 2062 | 17.85 | 13.45 | -4.40 | — | 0.19 | 0.01 | -0.18 | ||
| 2063 | 17.92 | 13.45 | -4.46 | — | 0.19 | 0.01 | -0.18 | ||
| 2064 | 17.99 | 13.46 | -4.53 | — | 0.20 | 0.01 | -0.18 | ||
| 2065 | 18.05 | 13.47 | -4.59 | — | 0.20 | 0.01 | -0.19 | ||
| 2066 | 18.12 | 13.47 | -4.65 | — | 0.20 | 0.01 | -0.19 | ||
| 2067 | 18.18 | 13.48 | -4.71 | — | 0.20 | 0.01 | -0.19 | ||
| 2068 | 18.25 | 13.48 | -4.77 | — | 0.20 | 0.01 | -0.19 | ||
| 2069 | 18.32 | 13.49 | -4.83 | — | 0.21 | 0.01 | -0.19 | ||
| 2070 | 18.39 | 13.49 | -4.90 | — | 0.21 | 0.01 | -0.19 | ||
| 2071 | 18.46 | 13.50 | -4.96 | — | 0.21 | 0.01 | -0.20 | ||
| 2072 | 18.52 | 13.50 | -5.02 | — | 0.21 | 0.01 | -0.20 | ||
| 2073 | 18.58 | 13.51 | -5.08 | — | 0.21 | 0.01 | -0.20 | ||
| 2074 | 18.64 | 13.51 | -5.13 | — | 0.21 | 0.01 | -0.20 | ||
| 2075 | 18.70 | 13.52 | -5.18 | — | 0.21 | 0.01 | -0.20 | ||
| 2076 | 18.74 | 13.52 | -5.22 | — | 0.21 | 0.01 | -0.20 | ||
| 2077 | 18.77 | 13.52 | -5.25 | — | 0.21 | 0.01 | -0.20 | ||
| 2078 | 18.80 | 13.53 | -5.27 | — | 0.21 | 0.01 | -0.20 | ||
| 2079 | 18.81 | 13.53 | -5.28 | — | 0.21 | 0.01 | -0.20 | ||
| 2080 | 18.81 | 13.53 | -5.28 | — | 0.21 | 0.01 | -0.20 | ||
| 2081 | 18.80 | 13.53 | -5.27 | — | 0.21 | 0.01 | -0.20 | ||
| 2082 | 18.78 | 13.53 | -5.26 | — | 0.21 | 0.01 | -0.20 | ||
| 2083 | 18.76 | 13.53 | -5.23 | — | 0.21 | 0.01 | -0.20 | ||
| 2084 | 18.72 | 13.52 | -5.20 | — | 0.21 | 0.01 | -0.20 | ||
| 2085 | 18.68 | 13.52 | -5.16 | — | 0.21 | 0.01 | -0.20 | ||
| 2086 | 18.63 | 13.52 | -5.11 | — | 0.21 | 0.01 | -0.20 | ||
| 2087 | 18.57 | 13.52 | -5.05 | — | 0.21 | 0.01 | -0.19 | ||
| 2088 | 18.51 | 13.51 | -5.00 | — | 0.21 | 0.01 | -0.19 | ||
| 2089 | 18.45 | 13.51 | -4.94 | — | 0.21 | 0.01 | -0.19 | ||
| 2090 | 18.39 | 13.50 | -4.89 | — | 0.20 | 0.01 | -0.19 | ||
| 2091 | 18.35 | 13.50 | -4.84 | — | 0.20 | 0.01 | -0.19 | ||
| 2092 | 18.31 | 13.50 | -4.81 | — | 0.20 | 0.01 | -0.19 | ||
| 2093 | 18.28 | 13.50 | -4.79 | — | 0.20 | 0.01 | -0.19 | ||
| 2094 | 18.27 | 13.50 | -4.77 | — | 0.20 | 0.01 | -0.19 | ||
| 2095 | 18.27 | 13.50 | -4.77 | — | 0.20 | 0.01 | -0.19 | ||
| 2096 | 18.28 | 13.50 | -4.78 | — | 0.20 | 0.01 | -0.19 | ||
| 2097 | 18.30 | 13.50 | -4.80 | — | 0.20 | 0.01 | -0.19 | ||
| 2098 | 18.33 | 13.50 | -4.83 | — | 0.20 | 0.01 | -0.19 | ||
| 2099 | 18.36 | 13.50 | -4.86 | — | 0.20 | 0.01 | -0.19 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 17.44% | 13.81% | -3.63% | 2035 | 0.14% | 0.01% | -0.13% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.