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Detailed Single Year Tables
Level of Monthly Benefits

Description of Proposed Provision:
Beginning in 2014, 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 $1,164 in 2012). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,164/20 = $58.20. (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
201313.9512.69-1.26
330
0.000.000.00
201414.0412.83-1.21
315
0.000.000.00
201513.9812.86-1.11
301
0.010.00-0.01
201613.9312.88-1.05
285
0.020.00-0.02
201713.9112.90-1.01
270
0.030.00-0.03
201813.9512.93-1.02
256
0.040.00-0.04
201914.1012.95-1.15
243
0.050.00-0.05
202014.3212.97-1.35
229
0.060.00-0.06
202114.5113.00-1.52
215
0.070.00-0.07
202214.7813.03-1.76
201
0.080.00-0.08
202315.0613.05-2.01
185
0.090.00-0.09
202415.3313.06-2.26
170
0.100.00-0.09
202515.5813.08-2.51
153
0.110.00-0.10
202615.8313.09-2.74
137
0.120.01-0.11
202716.0613.10-2.95
119
0.130.01-0.12
202816.2713.12-3.16
102
0.140.01-0.13
202916.4713.13-3.34
83
0.150.01-0.14
203016.6513.14-3.51
63
0.160.01-0.15
203116.8013.15-3.65
43
0.160.01-0.16
203216.9213.16-3.77
22
0.170.01-0.16
203317.0413.16-3.87
1
0.180.01-0.17
203417.1213.17-3.95
----
0.190.01-0.18
203517.1813.17-4.00
----
0.200.01-0.19
203617.2113.18-4.04
----
0.200.01-0.19
203717.2313.18-4.05
----
0.210.01-0.20
203817.2413.18-4.05
----
0.220.01-0.21
203917.2213.18-4.03
----
0.220.01-0.21
204017.1913.18-4.01
----
0.230.01-0.22
204117.1613.18-3.98
----
0.230.01-0.22
204217.1313.18-3.95
----
0.240.01-0.23
204317.1113.18-3.93
----
0.240.01-0.23
204417.0913.18-3.91
----
0.250.01-0.24
204517.0813.18-3.90
----
0.250.01-0.24
204617.0713.18-3.89
----
0.260.01-0.24
204717.0713.18-3.88
----
0.260.01-0.25
204817.0613.18-3.87
----
0.260.01-0.25
204917.0513.18-3.87
----
0.270.01-0.26
205017.0613.18-3.87
----
0.270.01-0.26
205117.0713.19-3.88
----
0.280.01-0.26
205217.0913.19-3.90
----
0.280.01-0.27
205317.1213.19-3.93
----
0.280.01-0.27
205417.1613.19-3.96
----
0.290.01-0.27
205517.2013.19-4.01
----
0.290.01-0.28
205617.2513.20-4.05
----
0.290.01-0.28
205717.3013.20-4.10
----
0.300.01-0.28
205817.3513.20-4.14
----
0.300.01-0.28
205917.4013.21-4.19
----
0.300.01-0.29
206017.4413.21-4.23
----
0.300.01-0.29
206117.4913.21-4.28
----
0.300.01-0.29
206217.5313.22-4.32
----
0.310.01-0.29
206317.5813.22-4.36
----
0.310.02-0.29
206417.6213.22-4.40
----
0.310.02-0.29
206517.6713.22-4.44
----
0.310.02-0.30
206617.7213.23-4.49
----
0.310.02-0.30
206717.7613.23-4.53
----
0.310.02-0.30
206817.8113.23-4.58
----
0.310.02-0.30
206917.8613.23-4.62
----
0.320.02-0.30
207017.9013.24-4.66
----
0.320.02-0.30
207117.9413.24-4.70
----
0.320.02-0.30
207217.9713.24-4.73
----
0.320.02-0.30
207318.0013.24-4.76
----
0.320.02-0.30
207418.0213.24-4.78
----
0.320.02-0.30
207518.0413.25-4.79
----
0.320.02-0.30
207618.0513.25-4.80
----
0.320.02-0.30
207718.0613.25-4.81
----
0.320.02-0.30
207818.0613.25-4.81
----
0.320.02-0.30
207918.0713.25-4.82
----
0.320.02-0.30
208018.0813.25-4.83
----
0.320.02-0.30
208118.1013.25-4.85
----
0.320.02-0.30
208218.1213.25-4.87
----
0.320.02-0.30
208318.1513.25-4.90
----
0.320.02-0.30
208418.1913.25-4.94
----
0.320.02-0.31
208518.2413.26-4.98
----
0.320.02-0.31
208618.2813.26-5.03
----
0.320.02-0.31
208718.3413.26-5.07
----
0.320.02-0.31
208818.3913.27-5.12
----
0.320.02-0.31



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2013 Trustees Report.
2013-2087 16.81% 13.89% -2.92%
2033
0.21% 0.01% -0.20%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 11, 2013