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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2012, 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 $1,128 in 2010). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,128/20 = $56.40. (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
201113.3512.52-0.82
353
0.000.000.00
201213.2412.87-0.37
347
0.010.00-0.01
201313.2012.87-0.33
340
0.020.00-0.02
201413.2212.92-0.30
333
0.030.00-0.03
201513.2912.94-0.35
326
0.050.00-0.05
201613.3912.97-0.42
319
0.060.00-0.06
201713.5413.00-0.54
311
0.080.00-0.08
201813.7113.03-0.68
302
0.090.00-0.09
201913.9913.05-0.94
291
0.110.00-0.10
202014.3213.07-1.25
279
0.120.01-0.12
202114.6613.09-1.57
266
0.140.01-0.13
202214.9813.11-1.87
252
0.150.01-0.14
202315.2913.12-2.17
237
0.170.01-0.16
202415.5813.14-2.44
221
0.180.01-0.17
202515.8713.16-2.71
205
0.190.01-0.18
202616.1313.17-2.96
187
0.210.01-0.20
202716.3613.19-3.18
169
0.220.01-0.21
202816.5813.20-3.37
151
0.230.01-0.22
202916.7613.21-3.54
131
0.240.01-0.23
203016.9113.22-3.68
111
0.250.01-0.24
203117.0213.23-3.79
91
0.260.01-0.25
203217.1313.24-3.88
69
0.270.01-0.26
203317.2113.25-3.96
48
0.280.01-0.27
203417.2713.25-4.02
26
0.290.01-0.28
203517.3113.26-4.06
3
0.300.02-0.28
203617.3413.26-4.08
----
0.310.02-0.29
203717.3613.26-4.09
----
0.320.02-0.30
203817.3413.27-4.08
----
0.320.02-0.31
203917.3213.27-4.05
----
0.330.02-0.31
204017.2913.27-4.02
----
0.330.02-0.32
204117.2513.26-3.99
----
0.340.02-0.32
204217.2213.26-3.95
----
0.340.02-0.33
204317.1913.26-3.92
----
0.350.02-0.33
204417.1713.26-3.90
----
0.350.02-0.33
204517.1413.26-3.88
----
0.360.02-0.34
204617.1213.26-3.86
----
0.360.02-0.34
204717.1013.26-3.84
----
0.370.02-0.35
204817.0913.26-3.83
----
0.370.02-0.35
204917.0713.26-3.81
----
0.370.02-0.35
205017.0613.26-3.80
----
0.380.02-0.36
205117.0613.26-3.80
----
0.380.02-0.36
205217.0713.27-3.80
----
0.390.02-0.37
205317.0813.27-3.81
----
0.390.02-0.37
205417.1013.27-3.83
----
0.390.02-0.37
205517.1213.27-3.85
----
0.400.02-0.38
205617.1413.27-3.87
----
0.400.02-0.38
205717.1713.28-3.89
----
0.400.02-0.38
205817.1913.28-3.91
----
0.410.02-0.38
205917.2013.28-3.92
----
0.410.02-0.39
206017.2113.28-3.93
----
0.410.02-0.39
206117.2313.28-3.94
----
0.410.02-0.39
206217.2413.28-3.95
----
0.410.02-0.39
206317.2513.28-3.97
----
0.410.02-0.39
206417.2713.29-3.98
----
0.420.02-0.39
206517.2913.29-4.00
----
0.420.02-0.39
206617.3113.29-4.02
----
0.420.02-0.40
206717.3313.29-4.04
----
0.420.02-0.40
206817.3613.29-4.07
----
0.420.02-0.40
206917.3913.30-4.10
----
0.420.02-0.40
207017.4313.30-4.13
----
0.420.02-0.40
207117.4613.30-4.16
----
0.420.02-0.40
207217.4913.30-4.19
----
0.430.02-0.40
207317.5313.30-4.23
----
0.430.02-0.40
207417.5713.31-4.26
----
0.430.02-0.40
207517.6113.31-4.30
----
0.430.02-0.40
207617.6413.31-4.33
----
0.430.02-0.41
207717.6813.31-4.37
----
0.430.02-0.41
207817.7213.32-4.40
----
0.430.02-0.41
207917.7613.32-4.44
----
0.430.02-0.41
208017.7913.32-4.47
----
0.430.02-0.41
208117.8313.32-4.51
----
0.430.02-0.41
208217.8713.33-4.55
----
0.430.02-0.41
208317.9113.33-4.58
----
0.440.02-0.41
208417.9513.33-4.62
----
0.440.02-0.41
208517.9913.33-4.66
----
0.440.02-0.41
208618.0313.34-4.69
----
0.440.02-0.41



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2011 Trustees Report.
2011-2085 16.54% 14.04% -2.50%
2035
0.29% 0.02% -0.28%
 
1 Under present law, the year of exhaustion is 2036.

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Last reviewed or modified December 21, 2011