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Detailed Single Year Tables

Description of Proposed Provision:
Beginning in 2013, 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 $1,134 in 2011). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,134/20 = $56.70. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

 

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
201213.8312.89-0.93
340
0.000.000.00
201313.9512.83-1.12
329
0.000.000.00
201413.9912.93-1.06
315
0.010.00-0.01
201513.9912.95-1.03
302
0.020.00-0.02
201613.9712.98-0.99
289
0.030.00-0.03
201713.9613.01-0.95
276
0.040.00-0.04
201814.0113.04-0.98
264
0.050.00-0.05
201914.2013.06-1.14
251
0.060.00-0.06
202014.4513.08-1.37
238
0.070.00-0.07
202114.7413.11-1.63
224
0.080.00-0.08
202215.0713.13-1.94
209
0.100.00-0.09
202315.4013.15-2.25
193
0.110.01-0.10
202415.7113.17-2.55
176
0.120.01-0.11
202516.0113.19-2.83
159
0.130.01-0.12
202616.2913.20-3.09
141
0.140.01-0.13
202716.5613.22-3.35
122
0.150.01-0.14
202816.8013.23-3.56
103
0.160.01-0.15
202917.0013.25-3.76
82
0.170.01-0.16
203017.1913.26-3.93
61
0.180.01-0.17
203117.3413.27-4.07
39
0.190.01-0.18
203217.4513.28-4.17
16
0.200.01-0.19
203317.5313.28-4.25
----
0.210.01-0.19
203417.5913.29-4.30
----
0.210.01-0.20
203517.6313.29-4.34
----
0.220.01-0.21
203617.6513.29-4.36
----
0.220.01-0.21
203717.6613.30-4.37
----
0.230.01-0.22
203817.6513.30-4.36
----
0.230.01-0.22
203917.6313.30-4.33
----
0.240.01-0.23
204017.6013.30-4.30
----
0.240.01-0.23
204117.5613.29-4.27
----
0.240.01-0.23
204217.5313.29-4.23
----
0.250.01-0.23
204317.4913.29-4.20
----
0.250.01-0.24
204417.4613.29-4.17
----
0.250.01-0.24
204517.4413.29-4.15
----
0.250.01-0.24
204617.4213.29-4.13
----
0.260.01-0.24
204717.3913.29-4.10
----
0.260.01-0.24
204817.3713.29-4.09
----
0.260.01-0.25
204917.3613.29-4.07
----
0.260.01-0.25
205017.3413.29-4.06
----
0.260.01-0.25
205117.3413.29-4.05
----
0.270.01-0.25
205217.3413.29-4.05
----
0.270.01-0.25
205317.3413.29-4.05
----
0.270.01-0.25
205417.3513.29-4.06
----
0.270.01-0.26
205517.3613.29-4.07
----
0.270.01-0.26
205617.3813.29-4.09
----
0.270.01-0.26
205717.4013.30-4.10
----
0.270.01-0.26
205817.4113.30-4.11
----
0.270.01-0.26
205917.4213.30-4.12
----
0.270.01-0.26
206017.4313.30-4.13
----
0.280.02-0.26
206117.4413.30-4.14
----
0.280.02-0.26
206217.4413.30-4.14
----
0.280.02-0.26
206317.4513.30-4.15
----
0.280.02-0.26
206417.4613.30-4.16
----
0.280.02-0.26
206517.4813.30-4.17
----
0.280.02-0.26
206617.5013.30-4.19
----
0.280.02-0.26
206717.5213.31-4.21
----
0.280.02-0.26
206817.5413.31-4.24
----
0.280.02-0.26
206917.5713.31-4.26
----
0.280.02-0.26
207017.6013.31-4.29
----
0.280.02-0.26
207117.6313.31-4.32
----
0.280.02-0.26
207217.6613.32-4.34
----
0.280.02-0.26
207317.6813.32-4.37
----
0.280.02-0.26
207417.7113.32-4.39
----
0.280.02-0.27
207517.7413.32-4.42
----
0.280.02-0.27
207617.7713.32-4.44
----
0.280.02-0.27
207717.7913.32-4.47
----
0.280.02-0.27
207817.8213.33-4.49
----
0.280.02-0.27
207917.8513.33-4.53
----
0.280.02-0.27
208017.8913.33-4.56
----
0.280.02-0.27
208117.9213.33-4.59
----
0.280.02-0.27
208217.9613.34-4.62
----
0.280.02-0.27
208318.0013.34-4.66
----
0.280.02-0.27
208418.0413.34-4.70
----
0.280.02-0.27
208518.0813.34-4.74
----
0.290.02-0.27
208618.1213.35-4.77
----
0.290.02-0.27
208718.1613.35-4.81
----
0.290.02-0.27



 

Summarized Estimates

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

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2012 Trustees Report.
2012-2086 16.89% 14.03% -2.86%
2032
0.20% 0.01% -0.19%
 
1 Under present law, the year of Trust Fund reserve depletion is 2033.

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Last reviewed or modified February 20, 2013