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Detailed Single Year Tables

Description of Proposed Provision:
Reduce the number of computation years (increase dropout years) for parents having a child in care under the age of 6. The parent must have no earnings (covered or non-covered) for the year to be eligible for the credit. Only one parent can claim the childcare added dropout year for a given earnings year. Each parent can earn at most 2 dropout years per child, and a maximum of 5 dropout years in total. The years designated as childcare years do not have to be the years that could otherwise be included in the computation of the average indexed monthly earnings (AIME). The provision would be effective for all benefits payable for entitlement in January 2018 and later (without regard for when the beneficiary became initially eligible).

 

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
201813.9012.96-0.94
276
0.050.00-0.04
201914.0312.97-1.06
260
0.050.00-0.04
202014.1812.98-1.20
245
0.050.00-0.04
202114.3213.00-1.31
230
0.050.00-0.04
202214.5413.04-1.50
214
0.050.00-0.04
202314.8113.06-1.75
197
0.050.00-0.05
202415.0713.09-1.98
180
0.050.00-0.05
202515.3313.11-2.22
163
0.050.00-0.05
202615.5213.13-2.39
146
0.050.00-0.05
202715.7013.14-2.55
129
0.050.00-0.05
202815.8613.16-2.71
112
0.050.00-0.05
202916.0213.17-2.85
95
0.050.00-0.05
203016.1513.18-2.97
77
0.050.00-0.05
203116.2713.19-3.08
60
0.050.00-0.05
203216.3813.20-3.18
42
0.050.00-0.05
203316.4613.21-3.25
23
0.050.00-0.05
203416.5213.21-3.30
4
0.050.00-0.05
203516.5513.22-3.33
----
0.050.00-0.05
203616.6113.22-3.38
----
0.050.00-0.05
203716.6513.23-3.42
----
0.050.00-0.05
203816.6713.23-3.43
----
0.050.00-0.05
203916.6613.23-3.43
----
0.050.00-0.05
204016.6413.23-3.41
----
0.050.00-0.05
204116.6113.23-3.38
----
0.050.00-0.05
204216.5913.23-3.35
----
0.050.00-0.05
204316.5513.23-3.32
----
0.050.00-0.05
204416.5213.23-3.29
----
0.050.00-0.05
204516.5013.23-3.27
----
0.050.00-0.05
204616.4813.23-3.24
----
0.050.00-0.05
204716.4513.23-3.22
----
0.050.00-0.05
204816.4413.23-3.20
----
0.050.00-0.05
204916.4213.23-3.19
----
0.050.00-0.05
205016.4113.23-3.18
----
0.050.00-0.05
205116.4113.24-3.18
----
0.050.00-0.05
205216.4213.24-3.19
----
0.050.00-0.05
205316.4513.24-3.21
----
0.050.00-0.05
205416.4813.24-3.23
----
0.050.00-0.05
205516.5213.25-3.27
----
0.050.00-0.05
205616.5613.25-3.31
----
0.050.00-0.05
205716.6113.25-3.36
----
0.050.00-0.05
205816.6613.26-3.40
----
0.050.00-0.05
205916.7113.26-3.45
----
0.050.00-0.05
206016.7613.26-3.50
----
0.050.00-0.05
206116.8113.27-3.54
----
0.050.00-0.05
206216.8613.27-3.59
----
0.050.00-0.05
206316.9113.28-3.63
----
0.050.00-0.05
206416.9613.28-3.68
----
0.050.00-0.05
206517.0113.28-3.73
----
0.050.00-0.05
206617.0613.29-3.77
----
0.050.00-0.05
206717.1113.29-3.82
----
0.050.00-0.05
206817.1613.29-3.87
----
0.050.00-0.05
206917.2213.30-3.92
----
0.050.00-0.05
207017.2713.30-3.97
----
0.050.00-0.05
207117.3213.30-4.01
----
0.050.00-0.05
207217.3613.31-4.05
----
0.050.00-0.05
207317.3913.31-4.08
----
0.050.00-0.05
207417.4213.31-4.11
----
0.050.00-0.05
207517.4413.31-4.13
----
0.050.00-0.05
207617.4613.31-4.14
----
0.050.00-0.05
207717.4613.31-4.15
----
0.050.00-0.05
207817.4613.31-4.15
----
0.050.00-0.05
207917.4613.31-4.14
----
0.050.00-0.05
208017.4513.31-4.14
----
0.050.00-0.05
208117.4513.31-4.14
----
0.050.00-0.05
208217.4613.31-4.14
----
0.050.00-0.05
208317.4713.31-4.15
----
0.050.00-0.05
208417.4913.32-4.17
----
0.050.00-0.05
208517.5213.32-4.20
----
0.050.00-0.05
208617.5513.32-4.23
----
0.050.00-0.05
208717.5913.32-4.27
----
0.050.00-0.05
208817.6413.33-4.31
----
0.050.00-0.05
208917.6813.33-4.35
----
0.050.00-0.05
209017.7313.33-4.40
----
0.050.00-0.05
209117.7713.33-4.44
----
0.050.00-0.05



 

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 16.55% 13.85% -2.71%
2034
0.05% 0.00% -0.05%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified June 16, 2016