Detailed Single Year Tables

Description of Proposed Provision:
Beginning for those newly eligible in 2021, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (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) From 2013 to the year of implementation, 2021, index the PIA per year of coverage using the chain-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	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	13.97	12.92	-1.05	306	0.00	0.00	0.00
2016	13.97	12.89	-1.08	292	0.00	0.00	0.00
2017	13.97	12.91	-1.06	277	0.00	0.00	0.00
2018	14.02	12.93	-1.08	262	0.00	0.00	0.00
2019	14.15	12.95	-1.20	248	0.00	0.00	0.00
2020	14.33	12.96	-1.37	233	0.00	0.00	0.00
2021	14.50	12.98	-1.52	218	0.00	0.00	0.00
2022	14.74	13.01	-1.73	203	0.01	0.00	-0.01
2023	15.02	13.03	-1.99	187	0.02	0.00	-0.02
2024	15.30	13.05	-2.25	171	0.02	0.00	-0.02
2025	15.57	13.07	-2.50	154	0.03	0.00	-0.03
2026	15.83	13.09	-2.74	136	0.04	0.00	-0.04
2027	16.07	13.11	-2.97	118	0.05	0.00	-0.05
2028	16.30	13.12	-3.18	100	0.06	0.00	-0.05
2029	16.50	13.14	-3.36	81	0.06	0.00	-0.06
2030	16.67	13.15	-3.53	62	0.07	0.00	-0.07
2031	16.82	13.16	-3.66	41	0.08	0.00	-0.08
2032	16.95	13.17	-3.78	20	0.08	0.00	-0.08
2033	17.04	13.18	-3.87	----	0.09	0.00	-0.09
2034	17.13	13.18	-3.95	----	0.10	0.00	-0.09
2035	17.19	13.19	-4.00	----	0.10	0.00	-0.10
2036	17.24	13.19	-4.04	----	0.11	0.00	-0.11
2037	17.26	13.20	-4.06	----	0.12	0.00	-0.11
2038	17.26	13.20	-4.06	----	0.12	0.00	-0.12
2039	17.25	13.20	-4.04	----	0.13	0.00	-0.12
2040	17.22	13.20	-4.02	----	0.13	0.00	-0.13
2041	17.19	13.20	-3.99	----	0.14	0.01	-0.13
2042	17.16	13.20	-3.95	----	0.14	0.01	-0.14
2043	17.13	13.20	-3.93	----	0.15	0.01	-0.14
2044	17.11	13.20	-3.91	----	0.15	0.01	-0.15
2045	17.10	13.20	-3.90	----	0.16	0.01	-0.15
2046	17.09	13.20	-3.89	----	0.16	0.01	-0.16
2047	17.08	13.21	-3.88	----	0.17	0.01	-0.16
2048	17.07	13.21	-3.87	----	0.17	0.01	-0.16
2049	17.07	13.21	-3.86	----	0.17	0.01	-0.17
2050	17.07	13.21	-3.86	----	0.18	0.01	-0.17
2051	17.08	13.21	-3.87	----	0.18	0.01	-0.18
2052	17.10	13.21	-3.89	----	0.19	0.01	-0.18
2053	17.13	13.21	-3.91	----	0.19	0.01	-0.18
2054	17.16	13.22	-3.95	----	0.19	0.01	-0.19
2055	17.21	13.22	-3.99	----	0.20	0.01	-0.19
2056	17.26	13.22	-4.04	----	0.20	0.01	-0.19
2057	17.31	13.23	-4.09	----	0.20	0.01	-0.19
2058	17.37	13.23	-4.13	----	0.21	0.01	-0.20
2059	17.42	13.24	-4.18	----	0.21	0.01	-0.20
2060	17.47	13.24	-4.23	----	0.21	0.01	-0.20
2061	17.52	13.24	-4.28	----	0.21	0.01	-0.20
2062	17.57	13.25	-4.32	----	0.21	0.01	-0.21
2063	17.62	13.25	-4.37	----	0.22	0.01	-0.21
2064	17.67	13.25	-4.41	----	0.22	0.01	-0.21
2065	17.72	13.26	-4.46	----	0.22	0.01	-0.21
2066	17.77	13.26	-4.51	----	0.22	0.01	-0.21
2067	17.82	13.26	-4.56	----	0.22	0.01	-0.21
2068	17.87	13.26	-4.60	----	0.22	0.01	-0.22
2069	17.92	13.27	-4.65	----	0.23	0.01	-0.22
2070	17.97	13.27	-4.70	----	0.23	0.01	-0.22
2071	18.01	13.27	-4.74	----	0.23	0.01	-0.22
2072	18.05	13.28	-4.77	----	0.23	0.01	-0.22
2073	18.08	13.28	-4.80	----	0.23	0.01	-0.22
2074	18.10	13.28	-4.82	----	0.23	0.01	-0.22
2075	18.11	13.28	-4.83	----	0.23	0.01	-0.22
2076	18.12	13.28	-4.84	----	0.23	0.01	-0.22
2077	18.13	13.28	-4.84	----	0.23	0.01	-0.22
2078	18.13	13.28	-4.84	----	0.23	0.01	-0.22
2079	18.13	13.28	-4.85	----	0.23	0.01	-0.22
2080	18.14	13.28	-4.85	----	0.23	0.01	-0.22
2081	18.15	13.28	-4.87	----	0.23	0.01	-0.22
2082	18.17	13.28	-4.89	----	0.23	0.01	-0.23
2083	18.20	13.29	-4.91	----	0.24	0.01	-0.23
2084	18.24	13.29	-4.95	----	0.24	0.01	-0.23
2085	18.28	13.29	-4.99	----	0.24	0.01	-0.23
2086	18.33	13.29	-5.03	----	0.24	0.01	-0.23
2087	18.38	13.30	-5.08	----	0.24	0.01	-0.23
2088	18.43	13.30	-5.13	----	0.24	0.01	-0.23
2089	18.48	13.30	-5.18	----	0.24	0.01	-0.23

				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%	-3.01%	2032	0.14%	0.01%	-0.13%

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