Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible in 2015, 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 $1,197 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,197/20 = $59.85. (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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2014	13.95	12.67	-1.29	320	0.00	0.00	0.00
2015	13.98	12.92	-1.05	306	0.01	0.00	-0.01
2016	13.99	12.89	-1.10	292	0.02	0.00	-0.02
2017	14.00	12.91	-1.10	276	0.03	0.00	-0.03
2018	14.07	12.93	-1.13	261	0.05	0.00	-0.05
2019	14.21	12.95	-1.26	246	0.06	0.00	-0.06
2020	14.41	12.96	-1.45	231	0.08	0.00	-0.08
2021	14.60	12.98	-1.61	216	0.10	0.00	-0.09
2022	14.85	13.01	-1.83	200	0.11	0.00	-0.11
2023	15.13	13.04	-2.09	183	0.13	0.01	-0.12
2024	15.42	13.06	-2.36	166	0.14	0.01	-0.13
2025	15.70	13.08	-2.62	148	0.15	0.01	-0.15
2026	15.96	13.09	-2.86	130	0.17	0.01	-0.16
2027	16.21	13.11	-3.10	112	0.18	0.01	-0.17
2028	16.44	13.13	-3.31	93	0.19	0.01	-0.19
2029	16.64	13.14	-3.50	74	0.21	0.01	-0.20
2030	16.82	13.16	-3.67	53	0.22	0.01	-0.21
2031	16.98	13.17	-3.81	32	0.23	0.01	-0.22
2032	17.10	13.18	-3.93	11	0.24	0.01	-0.23
2033	17.20	13.19	-4.02	----	0.25	0.01	-0.24
2034	17.29	13.19	-4.10	----	0.26	0.01	-0.25
2035	17.36	13.20	-4.16	----	0.27	0.01	-0.26
2036	17.40	13.20	-4.20	----	0.28	0.01	-0.26
2037	17.43	13.21	-4.22	----	0.28	0.01	-0.27
2038	17.43	13.21	-4.22	----	0.29	0.01	-0.28
2039	17.41	13.21	-4.20	----	0.30	0.01	-0.28
2040	17.39	13.21	-4.18	----	0.30	0.01	-0.29
2041	17.36	13.21	-4.15	----	0.31	0.01	-0.29
2042	17.33	13.21	-4.11	----	0.31	0.02	-0.30
2043	17.30	13.21	-4.09	----	0.32	0.02	-0.30
2044	17.28	13.21	-4.07	----	0.32	0.02	-0.31
2045	17.27	13.21	-4.06	----	0.33	0.02	-0.31
2046	17.26	13.21	-4.05	----	0.33	0.02	-0.32
2047	17.25	13.22	-4.04	----	0.34	0.02	-0.32
2048	17.25	13.22	-4.03	----	0.34	0.02	-0.33
2049	17.24	13.22	-4.02	----	0.35	0.02	-0.33
2050	17.24	13.22	-4.02	----	0.35	0.02	-0.33
2051	17.25	13.22	-4.03	----	0.36	0.02	-0.34
2052	17.27	13.22	-4.05	----	0.36	0.02	-0.34
2053	17.30	13.23	-4.08	----	0.36	0.02	-0.35
2054	17.34	13.23	-4.11	----	0.37	0.02	-0.35
2055	17.39	13.23	-4.16	----	0.37	0.02	-0.35
2056	17.44	13.24	-4.20	----	0.38	0.02	-0.36
2057	17.49	13.24	-4.25	----	0.38	0.02	-0.36
2058	17.54	13.24	-4.30	----	0.38	0.02	-0.36
2059	17.59	13.25	-4.35	----	0.39	0.02	-0.37
2060	17.65	13.25	-4.40	----	0.39	0.02	-0.37
2061	17.70	13.25	-4.44	----	0.39	0.02	-0.37
2062	17.75	13.26	-4.49	----	0.39	0.02	-0.37
2063	17.79	13.26	-4.54	----	0.39	0.02	-0.37
2064	17.84	13.26	-4.58	----	0.40	0.02	-0.38
2065	17.89	13.27	-4.63	----	0.40	0.02	-0.38
2066	17.94	13.27	-4.68	----	0.40	0.02	-0.38
2067	18.00	13.27	-4.72	----	0.40	0.02	-0.38
2068	18.05	13.28	-4.77	----	0.40	0.02	-0.38
2069	18.09	13.28	-4.82	----	0.40	0.02	-0.38
2070	18.14	13.28	-4.86	----	0.40	0.02	-0.38
2071	18.19	13.28	-4.90	----	0.40	0.02	-0.38
2072	18.22	13.29	-4.93	----	0.40	0.02	-0.38
2073	18.25	13.29	-4.96	----	0.40	0.02	-0.38
2074	18.27	13.29	-4.98	----	0.40	0.02	-0.38
2075	18.29	13.29	-4.99	----	0.40	0.02	-0.38
2076	18.29	13.29	-5.00	----	0.40	0.02	-0.38
2077	18.30	13.29	-5.00	----	0.40	0.02	-0.38
2078	18.30	13.29	-5.00	----	0.40	0.02	-0.38
2079	18.30	13.29	-5.01	----	0.40	0.02	-0.38
2080	18.30	13.29	-5.01	----	0.40	0.02	-0.38
2081	18.32	13.29	-5.02	----	0.40	0.02	-0.38
2082	18.34	13.30	-5.04	----	0.40	0.02	-0.38
2083	18.37	13.30	-5.07	----	0.40	0.02	-0.38
2084	18.40	13.30	-5.11	----	0.40	0.02	-0.38
2085	18.45	13.30	-5.15	----	0.40	0.02	-0.38
2086	18.49	13.30	-5.19	----	0.41	0.02	-0.38
2087	18.54	13.31	-5.24	----	0.41	0.02	-0.39
2088	18.60	13.31	-5.29	----	0.41	0.02	-0.39
2089	18.65	13.31	-5.34	----	0.41	0.02	-0.39

				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 2014 Trustees Report.
2014-2088	17.05%	13.90%	-3.15%	2032	0.28%	0.01%	-0.27%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates