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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2014, 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 $1,164 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
0.010.00-0.01
201513.9912.87-1.12
300
0.020.00-0.02
201613.9412.88-1.06
285
0.030.00-0.03
201713.9312.90-1.03
270
0.050.00-0.05
201813.9812.93-1.04
256
0.060.00-0.06
201914.1412.95-1.18
242
0.080.00-0.08
202014.3512.97-1.38
228
0.100.00-0.09
202114.5513.00-1.56
214
0.110.00-0.11
202214.8313.03-1.80
199
0.120.01-0.12
202315.1113.05-2.06
183
0.140.01-0.13
202415.3813.06-2.31
167
0.150.01-0.14
202515.6413.08-2.56
151
0.160.01-0.15
202615.8813.09-2.79
134
0.170.01-0.17
202716.1113.11-3.01
116
0.180.01-0.18
202816.3313.12-3.21
98
0.200.01-0.19
202916.5313.13-3.40
79
0.210.01-0.20
203016.7113.14-3.57
60
0.220.01-0.21
203116.8613.15-3.71
39
0.230.01-0.22
203216.9913.16-3.83
18
0.240.01-0.23
203317.1113.17-3.94
----
0.250.01-0.24
203417.1913.17-4.02
----
0.260.01-0.25
203517.2513.18-4.07
----
0.270.01-0.26
203617.2913.18-4.11
----
0.280.01-0.26
203717.3113.18-4.13
----
0.290.01-0.27
203817.3113.19-4.13
----
0.290.01-0.28
203917.2913.19-4.11
----
0.300.01-0.29
204017.2713.19-4.08
----
0.310.01-0.29
204117.2413.19-4.06
----
0.310.01-0.30
204217.2113.18-4.03
----
0.320.01-0.30
204317.1913.18-4.00
----
0.320.02-0.31
204417.1713.18-3.99
----
0.330.02-0.32
204517.1613.18-3.98
----
0.340.02-0.32
204617.1613.19-3.97
----
0.340.02-0.32
204717.1513.19-3.97
----
0.350.02-0.33
204817.1413.19-3.96
----
0.350.02-0.33
204917.1413.19-3.95
----
0.360.02-0.34
205017.1413.19-3.96
----
0.360.02-0.34
205117.1613.19-3.97
----
0.370.02-0.35
205217.1813.19-3.99
----
0.370.02-0.35
205317.2113.19-4.02
----
0.380.02-0.36
205417.2513.20-4.05
----
0.380.02-0.36
205517.3013.20-4.10
----
0.390.02-0.37
205617.3513.20-4.14
----
0.390.02-0.37
205717.4013.21-4.19
----
0.390.02-0.37
205817.4513.21-4.24
----
0.400.02-0.38
205917.4913.21-4.28
----
0.400.02-0.38
206017.5413.21-4.33
----
0.400.02-0.38
206117.5913.22-4.37
----
0.400.02-0.38
206217.6313.22-4.41
----
0.410.02-0.39
206317.6813.22-4.46
----
0.410.02-0.39
206417.7213.23-4.50
----
0.410.02-0.39
206517.7713.23-4.54
----
0.410.02-0.39
206617.8213.23-4.59
----
0.410.02-0.39
206717.8613.23-4.63
----
0.410.02-0.39
206817.9113.24-4.67
----
0.420.02-0.40
206917.9613.24-4.72
----
0.420.02-0.40
207018.0013.24-4.76
----
0.420.02-0.40
207118.0413.24-4.80
----
0.420.02-0.40
207218.0813.25-4.83
----
0.420.02-0.40
207318.1013.25-4.85
----
0.420.02-0.40
207418.1213.25-4.88
----
0.420.02-0.40
207518.1413.25-4.89
----
0.420.02-0.40
207618.1513.25-4.90
----
0.420.02-0.40
207718.1613.25-4.90
----
0.420.02-0.40
207818.1613.25-4.91
----
0.420.02-0.40
207918.1713.25-4.92
----
0.420.02-0.40
208018.1813.25-4.93
----
0.420.02-0.40
208118.2013.25-4.94
----
0.420.02-0.40
208218.2213.25-4.97
----
0.420.02-0.40
208318.2513.26-5.00
----
0.420.02-0.40
208418.2913.26-5.03
----
0.420.02-0.40
208518.3413.26-5.08
----
0.420.02-0.40
208618.3913.26-5.12
----
0.420.02-0.40
208718.4413.27-5.17
----
0.430.02-0.40
208818.4913.27-5.22
----
0.430.02-0.41



 

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 2013 Trustees Report.
2013-2087 16.88% 13.89% -2.99%
2032
0.29% 0.01% -0.27%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 11, 2013