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Summary Measures and Graphs
Level of Monthly Benefits

Description of Proposed Provision:
Beginning for those newly eligible for OASDI benefits in 2015, increase the special minimum benefit to 100 percent of poverty by making the following changes: (a) The number of years of work (YOW) is determined as total quarters of coverage divided by 4, ignoring any fraction. Up to 5 additional years with a child under in 6 may be counted as YOWs. (b) Set the PIA for 30 or more 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 point per YOW so that at 29 YOCs 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 YOCs.

Estimates based on the intermediate assumptions of the 2012 Trustees Report

Summary Measures
[As a percentage of taxable payroll]
Present Law Change from present law Results with this provision
Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year
-2.67 -4.50 -0.02 0.00 -2.68 -4.51


graph of OASDI cost rates and income rates by year, under present law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under present law and provision. click on graph to view underlying data.
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Last reviewed or modified May 10, 2013