Proposed Provision: Beginning for those newly eligible in 2016, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which either 20 percent of the "old law maximum" is earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level (about $1,238 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,238/11 = $112.60. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.
OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)
  |
Income Rates |
Cost Rates |
Year |
Present Law |
Provision |
Present Law |
Provision |
2014 | 12.7 | 12.7 | 14.0 | 14.0 |
2015 | 12.9 | 12.9 | 14.0 | 14.0 |
2016 | 12.9 | 12.9 | 14.0 | 14.0 |
2017 | 12.9 | 12.9 | 14.0 | 14.0 |
2018 | 12.9 | 12.9 | 14.0 | 14.0 |
2019 | 12.9 | 12.9 | 14.1 | 14.2 |
2020 | 13.0 | 13.0 | 14.3 | 14.3 |
2021 | 13.0 | 13.0 | 14.5 | 14.5 |
2022 | 13.0 | 13.0 | 14.7 | 14.8 |
2023 | 13.0 | 13.0 | 15.0 | 15.0 |
2024 | 13.1 | 13.1 | 15.3 | 15.3 |
2025 | 13.1 | 13.1 | 15.5 | 15.6 |
2026 | 13.1 | 13.1 | 15.8 | 15.8 |
2027 | 13.1 | 13.1 | 16.0 | 16.1 |
2028 | 13.1 | 13.1 | 16.2 | 16.3 |
2029 | 13.1 | 13.1 | 16.4 | 16.5 |
2030 | 13.1 | 13.1 | 16.6 | 16.7 |
2031 | 13.2 | 13.2 | 16.7 | 16.8 |
2032 | 13.2 | 13.2 | 16.9 | 16.9 |
2033 | 13.2 | 13.2 | 17.0 | 17.0 |
2034 | 13.2 | 13.2 | 17.0 | 17.1 |
2035 | 13.2 | 13.2 | 17.1 | 17.2 |
2036 | 13.2 | 13.2 | 17.1 | 17.2 |
2037 | 13.2 | 13.2 | 17.1 | 17.2 |
2038 | 13.2 | 13.2 | 17.1 | 17.2 |
2039 | 13.2 | 13.2 | 17.1 | 17.2 |
2040 | 13.2 | 13.2 | 17.1 | 17.2 |
2041 | 13.2 | 13.2 | 17.0 | 17.1 |
2042 | 13.2 | 13.2 | 17.0 | 17.1 |
2043 | 13.2 | 13.2 | 17.0 | 17.1 |
2044 | 13.2 | 13.2 | 17.0 | 17.1 |
2045 | 13.2 | 13.2 | 16.9 | 17.0 |
2046 | 13.2 | 13.2 | 16.9 | 17.0 |
2047 | 13.2 | 13.2 | 16.9 | 17.0 |
2048 | 13.2 | 13.2 | 16.9 | 17.0 |
2049 | 13.2 | 13.2 | 16.9 | 17.0 |
2050 | 13.2 | 13.2 | 16.9 | 17.0 |
2051 | 13.2 | 13.2 | 16.9 | 17.0 |
2052 | 13.2 | 13.2 | 16.9 | 17.0 |
2053 | 13.2 | 13.2 | 16.9 | 17.1 |
2054 | 13.2 | 13.2 | 17.0 | 17.1 |
2055 | 13.2 | 13.2 | 17.0 | 17.1 |
2056 | 13.2 | 13.2 | 17.1 | 17.2 |
2057 | 13.2 | 13.2 | 17.1 | 17.2 |
2058 | 13.2 | 13.2 | 17.2 | 17.3 |
2059 | 13.2 | 13.2 | 17.2 | 17.3 |
2060 | 13.2 | 13.2 | 17.3 | 17.4 |
2061 | 13.2 | 13.2 | 17.3 | 17.4 |
2062 | 13.2 | 13.2 | 17.4 | 17.5 |
2063 | 13.2 | 13.2 | 17.4 | 17.5 |
2064 | 13.2 | 13.2 | 17.4 | 17.6 |
2065 | 13.2 | 13.3 | 17.5 | 17.6 |
2066 | 13.2 | 13.3 | 17.5 | 17.7 |
2067 | 13.3 | 13.3 | 17.6 | 17.7 |
2068 | 13.3 | 13.3 | 17.6 | 17.8 |
2069 | 13.3 | 13.3 | 17.7 | 17.8 |
2070 | 13.3 | 13.3 | 17.7 | 17.9 |
2071 | 13.3 | 13.3 | 17.8 | 17.9 |
2072 | 13.3 | 13.3 | 17.8 | 18.0 |
2073 | 13.3 | 13.3 | 17.8 | 18.0 |
2074 | 13.3 | 13.3 | 17.9 | 18.0 |
2075 | 13.3 | 13.3 | 17.9 | 18.0 |
2076 | 13.3 | 13.3 | 17.9 | 18.0 |
2077 | 13.3 | 13.3 | 17.9 | 18.0 |
2078 | 13.3 | 13.3 | 17.9 | 18.0 |
2079 | 13.3 | 13.3 | 17.9 | 18.0 |
2080 | 13.3 | 13.3 | 17.9 | 18.0 |
2081 | 13.3 | 13.3 | 17.9 | 18.1 |
2082 | 13.3 | 13.3 | 17.9 | 18.1 |
2083 | 13.3 | 13.3 | 18.0 | 18.1 |
2084 | 13.3 | 13.3 | 18.0 | 18.1 |
2085 | 13.3 | 13.3 | 18.0 | 18.2 |
2086 | 13.3 | 13.3 | 18.1 | 18.2 |
2087 | 13.3 | 13.3 | 18.1 | 18.3 |
2088 | 13.3 | 13.3 | 18.2 | 18.3 |
2089 | 13.3 | 13.3 | 18.2 | 18.4 |
back