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Program Explainers

  1. Scheduled vs.
    Payable Benefits
  2. Special
    Minimum Benefit
  3. Why Will Poverty Decline
    for Beneficiaries?

Chart Descriptions - Special Minimum Benefit


Released: May 2014
Regular PIA vs. Special Minimum PIA for a Low Earner with 30 Years of Coverage
Year Regular PIA Special minimum PIA
  Monthly dollar value
1991 384 461
1992 405 478
1993 419 493
1994 441 505
1995 445 519
1996 457 533
1997 476 548
1998 498 560
1999 526 567
2000 551 581
2001 581 601
2002 611 617
2003 625 626
2004 631 639
2005 644 656
2006 670 683
2007 691 705
2008 718 721
2009 747 763
2010 759 763
  Percent of average wage
1991 21.15 25.37
1992 21.17 25.02
1993 21.74 25.55
1994 22.27 25.53
1995 21.61 25.23
1996 21.16 24.68
1997 20.82 23.99
1998 20.69 23.28
1999 20.71 22.33
2000 20.57 21.69
2001 21.16 21.92
2002 22.06 22.27
2003 22.02 22.04
2004 21.23 21.50
2005 20.92 21.30
2006 20.81 21.20
2007 20.52 20.94
2008 20.86 20.94
2009 22.01 22.50
2010 21.78 21.89
  Percent of aged single poverty threshold
1991 70.63 84.73
1992 72.16 85.28
1993 72.57 85.28
1994 74.41 85.31
1995 73.03 85.28
1996 72.87 84.98
1997 74.18 85.47
1998 76.39 85.92
1999 78.96 85.16
2000 80.08 84.43
2001 82.02 84.96
2002 85.03 85.81
2003 85.01 85.07
2004 83.53 84.60
2005 82.53 84.03
2006 83.20 84.73
2007 83.39 85.10
2008 83.49 83.83
2009 87.09 89.01
2010 87.13 87.57
SOURCE: Author's calculations for workers who earn the exact amount needed each year from age 31 through age 60 to obtain 30 years of coverage, and based on SSA rules for the PIA and special minimum PIA.