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Detailed Single Year Tables
Level of Monthly Benefits

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 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 100 percent of the monthly poverty level (about $972.50 in 2014). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $972.50/20 = $48.60. (c) From 2014 to the year of implementation, 2015, index the PIA per year of coverage using the CPI index. Then, for later years, index the 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.

 

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
201413.9512.67-1.29
320
0.000.000.00
201513.9712.92-1.05
306
0.000.000.00
201613.9812.89-1.09
292
0.010.00-0.01
201713.9912.91-1.08
277
0.020.00-0.02
201814.0412.93-1.11
262
0.020.00-0.02
201914.1812.95-1.23
247
0.030.00-0.03
202014.3712.96-1.41
232
0.040.00-0.04
202114.5512.98-1.57
217
0.050.00-0.04
202214.7913.01-1.78
202
0.050.00-0.05
202315.0613.03-2.03
185
0.060.00-0.06
202415.3413.05-2.29
169
0.060.00-0.06
202515.6113.07-2.54
151
0.070.00-0.07
202615.8713.09-2.78
134
0.080.00-0.07
202716.1113.11-3.00
116
0.080.00-0.08
202816.3313.12-3.21
97
0.090.00-0.08
202916.5313.14-3.39
78
0.090.00-0.09
203016.7013.15-3.55
59
0.100.00-0.09
203116.8513.16-3.69
38
0.100.00-0.10
203216.9713.17-3.80
17
0.110.00-0.10
203317.0713.18-3.89
----
0.110.00-0.11
203417.1513.18-3.97
----
0.120.00-0.11
203517.2113.19-4.02
----
0.120.00-0.12
203617.2513.20-4.06
----
0.130.00-0.12
203717.2813.20-4.08
----
0.130.00-0.13
203817.2713.20-4.07
----
0.140.00-0.13
203917.2613.20-4.05
----
0.140.00-0.13
204017.2313.20-4.03
----
0.140.01-0.14
204117.2013.20-3.99
----
0.150.01-0.14
204217.1613.20-3.96
----
0.150.01-0.14
204317.1313.20-3.93
----
0.150.01-0.15
204417.1113.20-3.91
----
0.160.01-0.15
204517.1013.20-3.90
----
0.160.01-0.15
204617.0913.20-3.89
----
0.160.01-0.16
204717.0813.21-3.88
----
0.160.01-0.16
204817.0713.21-3.87
----
0.170.01-0.16
204917.0613.21-3.86
----
0.170.01-0.16
205017.0613.21-3.85
----
0.170.01-0.17
205117.0713.21-3.86
----
0.180.01-0.17
205217.0913.21-3.88
----
0.180.01-0.17
205317.1213.21-3.90
----
0.180.01-0.17
205417.1513.22-3.94
----
0.180.01-0.18
205517.2013.22-3.98
----
0.190.01-0.18
205617.2513.22-4.02
----
0.190.01-0.18
205717.3013.23-4.07
----
0.190.01-0.18
205817.3513.23-4.12
----
0.190.01-0.18
205917.4013.23-4.17
----
0.190.01-0.19
206017.4513.24-4.21
----
0.190.01-0.19
206117.5013.24-4.26
----
0.200.01-0.19
206217.5513.24-4.31
----
0.200.01-0.19
206317.6013.25-4.35
----
0.200.01-0.19
206417.6513.25-4.40
----
0.200.01-0.19
206517.7013.25-4.44
----
0.200.01-0.19
206617.7513.26-4.49
----
0.200.01-0.19
206717.8013.26-4.54
----
0.200.01-0.20
206817.8513.26-4.59
----
0.200.01-0.20
206917.9013.27-4.63
----
0.210.01-0.20
207017.9513.27-4.68
----
0.210.01-0.20
207117.9913.27-4.72
----
0.210.01-0.20
207218.0213.27-4.75
----
0.210.01-0.20
207318.0513.28-4.78
----
0.210.01-0.20
207418.0713.28-4.80
----
0.210.01-0.20
207518.0913.28-4.81
----
0.210.01-0.20
207618.1013.28-4.82
----
0.210.01-0.20
207718.1013.28-4.82
----
0.210.01-0.20
207818.1013.28-4.82
----
0.210.01-0.20
207918.1013.28-4.82
----
0.210.01-0.20
208018.1113.28-4.83
----
0.210.01-0.20
208118.1213.28-4.84
----
0.210.01-0.20
208218.1513.28-4.86
----
0.210.01-0.20
208318.1813.28-4.89
----
0.210.01-0.20
208418.2113.29-4.92
----
0.210.01-0.20
208518.2513.29-4.96
----
0.210.01-0.20
208618.3013.29-5.01
----
0.210.01-0.20
208718.3513.30-5.06
----
0.210.01-0.20
208818.4013.30-5.10
----
0.210.01-0.20
208918.4513.30-5.15
----
0.210.01-0.20



 

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 16.91% 13.89% -3.02%
2032
0.14% 0.01% -0.13%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified September 18, 2014