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Detailed Single Year Tables

Description of Proposed Provision:
B5.3: Beginning for those newly eligible in 2018, 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 $1,238 in 2016). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,238/20 = $61.90. (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
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7112.95-0.76
273
0.010.00-0.01
202013.8712.96-0.91
258
0.020.00-0.02
202114.0512.99-1.06
244
0.030.00-0.03
202214.3013.02-1.27
229
0.040.00-0.04
202314.6013.05-1.55
213
0.060.00-0.05
202414.9013.09-1.81
197
0.070.00-0.07
202515.1813.11-2.07
180
0.080.00-0.08
202615.4713.14-2.33
162
0.090.00-0.09
202715.7213.16-2.57
144
0.110.00-0.10
202815.9713.17-2.80
126
0.120.01-0.11
202916.2013.19-3.01
108
0.130.01-0.13
203016.4113.20-3.21
89
0.140.01-0.14
203116.6013.21-3.39
70
0.150.01-0.15
203216.7713.23-3.54
50
0.160.01-0.15
203316.9113.24-3.68
29
0.170.01-0.16
203417.0313.24-3.79
8
0.180.01-0.17
203517.1213.25-3.87
----
0.190.01-0.18
203617.1913.25-3.93
----
0.200.01-0.19
203717.2313.26-3.97
----
0.200.01-0.19
203817.2313.26-3.97
----
0.210.01-0.20
203917.2213.26-3.96
----
0.220.01-0.21
204017.1913.26-3.93
----
0.220.01-0.21
204117.1413.26-3.89
----
0.230.01-0.22
204217.1013.26-3.84
----
0.240.01-0.22
204317.0513.25-3.79
----
0.240.01-0.23
204417.0113.25-3.75
----
0.250.01-0.23
204516.9713.25-3.72
----
0.250.01-0.24
204616.9413.25-3.69
----
0.260.01-0.25
204716.9113.25-3.66
----
0.260.01-0.25
204816.8913.25-3.64
----
0.270.01-0.26
204916.8613.25-3.62
----
0.280.01-0.26
205016.8513.25-3.60
----
0.280.01-0.27
205116.8413.25-3.59
----
0.290.01-0.27
205216.8513.25-3.60
----
0.290.02-0.27
205316.8613.25-3.61
----
0.290.02-0.28
205416.8913.25-3.64
----
0.300.02-0.28
205516.9213.25-3.67
----
0.300.02-0.29
205616.9613.26-3.70
----
0.300.02-0.29
205717.0013.26-3.74
----
0.310.02-0.29
205817.0513.26-3.79
----
0.310.02-0.29
205917.1013.27-3.83
----
0.310.02-0.30
206017.1413.27-3.87
----
0.310.02-0.30
206117.1913.27-3.92
----
0.320.02-0.30
206217.2413.28-3.96
----
0.320.02-0.30
206317.2913.28-4.01
----
0.320.02-0.30
206417.3413.28-4.06
----
0.320.02-0.31
206517.3913.29-4.10
----
0.320.02-0.31
206617.4413.29-4.15
----
0.330.02-0.31
206717.5013.29-4.20
----
0.330.02-0.31
206817.5513.30-4.25
----
0.330.02-0.31
206917.6013.30-4.31
----
0.330.02-0.31
207017.6613.30-4.35
----
0.330.02-0.31
207117.7013.31-4.40
----
0.330.02-0.31
207217.7513.31-4.44
----
0.330.02-0.31
207317.7813.31-4.47
----
0.330.02-0.32
207417.8113.31-4.50
----
0.330.02-0.32
207517.8413.31-4.52
----
0.330.02-0.32
207617.8513.32-4.54
----
0.330.02-0.32
207717.8613.32-4.54
----
0.330.02-0.32
207817.8613.32-4.54
----
0.330.02-0.31
207917.8513.32-4.53
----
0.330.02-0.31
208017.8413.32-4.53
----
0.330.02-0.31
208117.8413.32-4.52
----
0.330.02-0.31
208217.8413.31-4.52
----
0.330.02-0.31
208317.8413.32-4.53
----
0.330.02-0.31
208417.8613.32-4.54
----
0.330.02-0.31
208517.8813.32-4.57
----
0.330.02-0.31
208617.9113.32-4.59
----
0.330.02-0.32
208717.9513.32-4.63
----
0.330.02-0.32
208817.9913.32-4.67
----
0.330.02-0.32
208918.0413.33-4.71
----
0.330.02-0.32
209018.0813.33-4.75
----
0.340.02-0.32
209118.1313.33-4.80
----
0.340.02-0.32
209218.1813.34-4.84
----
0.340.02-0.32



 

Summarized Estimates

 
  Proposal
  Change from Current 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 2017 Trustees Report.
2017-2091 16.90% 13.85% -3.05%
2034
0.24% 0.01% -0.22%
 
1 Under current law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified July 13, 2017