Detailed Single Year Tables
Description of Proposed Provision:
B5.7: Beginning for those newly eligible in 2027, reconfigure the special minimum benefit: (a) The number of years of work (YOWs) is determined as total quarters of coverage divided by 4, ignoring any fraction. Childcare years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30+ YOWs equal to 100 percent of the monthly HHS poverty level for the year prior to eligibility. For workers between 11 and 29 YOWs, reduce the special minimum by 3 1/3 percentage points per YOW so that at 29 YOWs the minimum would be 96 2/3% of poverty, ..., down to 11 YOWs at 36 2/3% of poverty. No minimum for 10 or fewer YOWs.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.00 | 12.89 | -2.11 | 171 | 0.00 | 0.00 | 0.00 | ||
| 2026 | 15.20 | 13.07 | -2.13 | 152 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.36 | 13.11 | -2.25 | 134 | 0.00 | 0.00 | -0.00 | ||
| 2028 | 15.42 | 13.13 | -2.29 | 117 | 0.00 | 0.00 | -0.00 | ||
| 2029 | 15.47 | 13.16 | -2.31 | 101 | 0.00 | 0.00 | -0.00 | ||
| 2030 | 15.53 | 13.18 | -2.35 | 84 | 0.01 | 0.00 | -0.01 | ||
| 2031 | 15.58 | 13.20 | -2.38 | 68 | 0.01 | 0.00 | -0.01 | ||
| 2032 | 15.61 | 13.22 | -2.39 | 53 | 0.01 | 0.00 | -0.01 | ||
| 2033 | 15.67 | 13.26 | -2.41 | 37 | 0.01 | 0.00 | -0.01 | ||
| 2034 | 15.79 | 13.28 | -2.51 | 22 | 0.01 | 0.00 | -0.01 | ||
| 2035 | 15.90 | 13.29 | -2.61 | 6 | 0.02 | 0.00 | -0.02 | ||
| 2036 | 16.01 | 13.30 | -2.71 | — | 0.02 | 0.00 | -0.02 | ||
| 2037 | 16.11 | 13.31 | -2.81 | — | 0.02 | 0.00 | -0.02 | ||
| 2038 | 16.20 | 13.31 | -2.89 | — | 0.02 | 0.00 | -0.02 | ||
| 2039 | 16.28 | 13.32 | -2.96 | — | 0.02 | 0.00 | -0.02 | ||
| 2040 | 16.35 | 13.33 | -3.02 | — | 0.03 | 0.00 | -0.02 | ||
| 2041 | 16.41 | 13.33 | -3.08 | — | 0.03 | 0.00 | -0.03 | ||
| 2042 | 16.46 | 13.34 | -3.13 | — | 0.03 | 0.00 | -0.03 | ||
| 2043 | 16.51 | 13.34 | -3.17 | — | 0.03 | 0.00 | -0.03 | ||
| 2044 | 16.55 | 13.34 | -3.21 | — | 0.03 | 0.00 | -0.03 | ||
| 2045 | 16.58 | 13.35 | -3.24 | — | 0.03 | 0.00 | -0.03 | ||
| 2046 | 16.62 | 13.35 | -3.27 | — | 0.03 | 0.00 | -0.03 | ||
| 2047 | 16.66 | 13.35 | -3.30 | — | 0.03 | 0.00 | -0.03 | ||
| 2048 | 16.70 | 13.36 | -3.34 | — | 0.03 | 0.00 | -0.03 | ||
| 2049 | 16.74 | 13.36 | -3.38 | — | 0.03 | 0.00 | -0.03 | ||
| 2050 | 16.79 | 13.37 | -3.43 | — | 0.04 | 0.00 | -0.03 | ||
| 2051 | 16.85 | 13.37 | -3.48 | — | 0.04 | 0.00 | -0.03 | ||
| 2052 | 16.91 | 13.38 | -3.53 | — | 0.04 | 0.00 | -0.03 | ||
| 2053 | 16.97 | 13.38 | -3.59 | — | 0.04 | 0.00 | -0.03 | ||
| 2054 | 17.04 | 13.39 | -3.65 | — | 0.04 | 0.00 | -0.03 | ||
| 2055 | 17.11 | 13.39 | -3.72 | — | 0.04 | 0.00 | -0.03 | ||
| 2056 | 17.19 | 13.40 | -3.79 | — | 0.04 | 0.00 | -0.03 | ||
| 2057 | 17.28 | 13.41 | -3.87 | — | 0.04 | 0.00 | -0.03 | ||
| 2058 | 17.37 | 13.41 | -3.95 | — | 0.04 | 0.00 | -0.03 | ||
| 2059 | 17.45 | 13.42 | -4.03 | — | 0.03 | 0.00 | -0.03 | ||
| 2060 | 17.54 | 13.43 | -4.11 | — | 0.03 | 0.00 | -0.03 | ||
| 2061 | 17.62 | 13.43 | -4.18 | — | 0.03 | 0.00 | -0.03 | ||
| 2062 | 17.69 | 13.44 | -4.25 | — | 0.03 | 0.00 | -0.03 | ||
| 2063 | 17.76 | 13.44 | -4.31 | — | 0.03 | 0.00 | -0.03 | ||
| 2064 | 17.82 | 13.45 | -4.37 | — | 0.03 | 0.00 | -0.03 | ||
| 2065 | 17.88 | 13.46 | -4.43 | — | 0.03 | 0.00 | -0.03 | ||
| 2066 | 17.95 | 13.46 | -4.48 | — | 0.03 | 0.00 | -0.03 | ||
| 2067 | 18.01 | 13.47 | -4.54 | — | 0.03 | 0.00 | -0.03 | ||
| 2068 | 18.07 | 13.47 | -4.60 | — | 0.03 | 0.00 | -0.02 | ||
| 2069 | 18.14 | 13.48 | -4.66 | — | 0.02 | 0.00 | -0.02 | ||
| 2070 | 18.21 | 13.48 | -4.73 | — | 0.02 | 0.00 | -0.02 | ||
| 2071 | 18.27 | 13.49 | -4.79 | — | 0.02 | 0.00 | -0.02 | ||
| 2072 | 18.34 | 13.49 | -4.84 | — | 0.02 | 0.00 | -0.02 | ||
| 2073 | 18.40 | 13.50 | -4.90 | — | 0.02 | 0.00 | -0.02 | ||
| 2074 | 18.45 | 13.50 | -4.95 | — | 0.02 | 0.00 | -0.02 | ||
| 2075 | 18.50 | 13.50 | -5.00 | — | 0.02 | 0.00 | -0.02 | ||
| 2076 | 18.54 | 13.51 | -5.04 | — | 0.02 | 0.00 | -0.02 | ||
| 2077 | 18.58 | 13.51 | -5.07 | — | 0.02 | 0.00 | -0.02 | ||
| 2078 | 18.60 | 13.51 | -5.09 | — | 0.02 | 0.00 | -0.02 | ||
| 2079 | 18.61 | 13.51 | -5.10 | — | 0.02 | 0.00 | -0.01 | ||
| 2080 | 18.61 | 13.52 | -5.09 | — | 0.01 | 0.00 | -0.01 | ||
| 2081 | 18.60 | 13.52 | -5.09 | — | 0.01 | 0.00 | -0.01 | ||
| 2082 | 18.58 | 13.52 | -5.07 | — | 0.01 | 0.00 | -0.01 | ||
| 2083 | 18.56 | 13.51 | -5.04 | — | 0.01 | 0.00 | -0.01 | ||
| 2084 | 18.52 | 13.51 | -5.01 | — | 0.01 | 0.00 | -0.01 | ||
| 2085 | 18.48 | 13.51 | -4.97 | — | 0.01 | 0.00 | -0.01 | ||
| 2086 | 18.43 | 13.51 | -4.92 | — | 0.01 | 0.00 | -0.01 | ||
| 2087 | 18.37 | 13.50 | -4.87 | — | 0.01 | 0.00 | -0.01 | ||
| 2088 | 18.31 | 13.50 | -4.81 | — | 0.01 | 0.00 | -0.01 | ||
| 2089 | 18.25 | 13.50 | -4.76 | — | 0.01 | 0.00 | -0.01 | ||
| 2090 | 18.20 | 13.49 | -4.71 | — | 0.01 | 0.00 | -0.01 | ||
| 2091 | 18.15 | 13.49 | -4.66 | — | 0.01 | 0.00 | -0.01 | ||
| 2092 | 18.11 | 13.49 | -4.63 | — | 0.01 | 0.00 | -0.01 | ||
| 2093 | 18.09 | 13.48 | -4.60 | — | 0.01 | 0.00 | -0.01 | ||
| 2094 | 18.07 | 13.48 | -4.59 | — | 0.01 | 0.00 | -0.01 | ||
| 2095 | 18.07 | 13.48 | -4.59 | — | 0.01 | 0.00 | -0.00 | ||
| 2096 | 18.08 | 13.48 | -4.60 | — | 0.00 | 0.00 | -0.00 | ||
| 2097 | 18.10 | 13.49 | -4.61 | — | 0.00 | 0.00 | -0.00 | ||
| 2098 | 18.13 | 13.49 | -4.64 | — | 0.00 | 0.00 | -0.00 | ||
| 2099 | 18.16 | 13.49 | -4.67 | — | 0.00 | 0.00 | -0.00 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 17.32% | 13.80% | -3.52% | 2035 | 0.02% | 0.00% | -0.02% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.