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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2011, increase the special minimum benefit by making the following changes: (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 $1,128 in 2009). The PIA per year of coverage (after the first 10 years) would be $1,128/20 = $56.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts, so that the special minimum keeps up with the wage-indexed benefit formula.

 

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
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.13
353
0.000.000.00
201212.8612.870.02
350
0.010.00-0.01
201312.8412.900.06
345
0.020.00-0.02
201412.9012.920.02
339
0.030.00-0.03
201513.0212.94-0.09
334
0.050.00-0.04
201613.1612.96-0.20
327
0.060.00-0.06
201713.3812.99-0.38
321
0.070.00-0.07
201813.6313.02-0.61
313
0.080.00-0.08
201913.9313.03-0.90
304
0.100.00-0.09
202014.2613.05-1.20
294
0.110.01-0.11
202114.5813.07-1.51
283
0.120.01-0.12
202214.8813.09-1.79
270
0.140.01-0.13
202315.1813.11-2.07
257
0.150.01-0.14
202415.4513.13-2.33
242
0.160.01-0.16
202515.7113.14-2.57
227
0.180.01-0.17
202615.9513.16-2.79
211
0.190.01-0.18
202716.1613.17-2.99
194
0.200.01-0.19
202816.3413.18-3.16
176
0.210.01-0.20
202916.5113.19-3.31
158
0.220.01-0.21
203016.6413.20-3.43
139
0.230.01-0.22
203116.7513.21-3.53
120
0.240.01-0.23
203216.8413.22-3.62
100
0.250.01-0.24
203316.9213.23-3.69
80
0.260.01-0.24
203416.9713.23-3.73
59
0.260.01-0.25
203517.0013.24-3.76
38
0.270.01-0.26
203617.0113.24-3.77
17
0.280.01-0.26
203717.0213.24-3.77
----
0.280.01-0.27
203817.0013.24-3.75
----
0.280.01-0.27
203916.9713.24-3.72
----
0.290.02-0.27
204016.9313.24-3.69
----
0.290.02-0.27
204116.8913.24-3.65
----
0.290.02-0.28
204216.8513.24-3.60
----
0.290.02-0.28
204316.8113.24-3.56
----
0.300.02-0.28
204416.7713.24-3.53
----
0.300.02-0.28
204516.7413.24-3.50
----
0.300.02-0.28
204616.7213.24-3.48
----
0.300.02-0.28
204716.7013.24-3.46
----
0.300.02-0.28
204816.6813.24-3.43
----
0.300.02-0.28
204916.6513.24-3.41
----
0.300.02-0.28
205016.6413.24-3.39
----
0.300.02-0.29
205116.6313.24-3.38
----
0.300.02-0.29
205216.6313.24-3.38
----
0.300.02-0.29
205316.6413.24-3.39
----
0.300.02-0.29
205416.6513.25-3.40
----
0.300.02-0.29
205516.6713.25-3.42
----
0.300.02-0.29
205616.7013.25-3.45
----
0.300.02-0.29
205716.7213.25-3.47
----
0.310.02-0.29
205816.7513.26-3.49
----
0.310.02-0.29
205916.7713.26-3.51
----
0.310.02-0.29
206016.7913.26-3.53
----
0.310.02-0.29
206116.8113.26-3.55
----
0.310.02-0.29
206216.8413.26-3.58
----
0.310.02-0.29
206316.8713.27-3.60
----
0.310.02-0.29
206416.8913.27-3.63
----
0.310.02-0.29
206516.9313.27-3.65
----
0.310.02-0.29
206616.9613.27-3.69
----
0.310.02-0.29
206717.0013.28-3.72
----
0.310.02-0.29
206817.0413.28-3.76
----
0.310.02-0.29
206917.0813.28-3.80
----
0.310.02-0.29
207017.1213.28-3.83
----
0.310.02-0.30
207117.1613.29-3.87
----
0.310.02-0.30
207217.2113.29-3.92
----
0.310.02-0.30
207317.2513.29-3.96
----
0.310.02-0.30
207417.3013.30-4.00
----
0.320.02-0.30
207517.3413.30-4.04
----
0.320.02-0.30
207617.3913.30-4.09
----
0.320.02-0.30
207717.4313.31-4.13
----
0.320.02-0.30
207817.4813.31-4.17
----
0.320.02-0.30
207917.5313.31-4.22
----
0.320.02-0.30
208017.5713.31-4.26
----
0.320.02-0.30
208117.6213.32-4.30
----
0.320.02-0.30
208217.6613.32-4.34
----
0.320.02-0.31
208317.7113.32-4.38
----
0.320.02-0.31
208417.7513.33-4.43
----
0.320.02-0.31
208517.7913.33-4.47
----
0.330.02-0.31



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 16.16% 14.02% -2.14%
2036
0.23% 0.01% -0.22%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 2, 2011