Proposed Provision: B7.3. Give credit to parents with a child under 6 for earnings for up to five years. The earnings credited for a childcare year equal one half of the SSA average wage index (about $27,821 in 2020). The credits are available for all past years to newly eligible retired-worker and disabled-worker beneficiaries starting in 2021. The 5 years are chosen to yield the largest increase in AIME.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2020 | 261 | 261 |
2021 | 248 | 248 |
2022 | 233 | 233 |
2023 | 217 | 216 |
2024 | 200 | 199 |
2025 | 183 | 182 |
2026 | 165 | 164 |
2027 | 148 | 146 |
2028 | 130 | 128 |
2029 | 112 | 109 |
2030 | 94 | 91 |
2031 | 76 | 72 |
2032 | 58 | 54 |
2033 | 39 | 34 |
2034 | 20 | 15 |
2035 | 1 | -5 |
2036 | -19 | -25 |
2037 | -38 | -46 |
2038 | -59 | -67 |
2039 | -80 | -89 |
2040 | -101 | -111 |
2041 | -122 | -133 |
2042 | -144 | -156 |
2043 | -166 | -179 |
2044 | -188 | -202 |
2045 | -210 | -225 |
2046 | -232 | -249 |
2047 | -255 | -272 |
2048 | -277 | -296 |
2049 | -299 | -319 |
2050 | -322 | -343 |
2051 | -344 | -367 |
2052 | -367 | -390 |
2053 | -389 | -414 |
2054 | -412 | -438 |
2055 | -434 | -462 |
2056 | -457 | -487 |
2057 | -480 | -511 |
2058 | -504 | -536 |
2059 | -527 | -561 |
2060 | -551 | -586 |
2061 | -575 | -611 |
2062 | -599 | -637 |
2063 | -624 | -664 |
2064 | -650 | -691 |
2065 | -676 | -718 |
2066 | -702 | -746 |
2067 | -728 | -773 |
2068 | -755 | -802 |
2069 | -782 | -830 |
2070 | -809 | -859 |
2071 | -837 | -889 |
2072 | -866 | -919 |
2073 | -895 | -950 |
2074 | -925 | -981 |
2075 | -955 | -1013 |
2076 | -986 | -1046 |
2077 | -1018 | -1079 |
2078 | -1051 | -1113 |
2079 | -1084 | -1149 |
2080 | -1119 | -1185 |
2081 | -1154 | -1222 |
2082 | -1190 | -1260 |
2083 | -1226 | -1298 |
2084 | -1263 | -1337 |
2085 | -1300 | -1376 |
2086 | -1337 | -1415 |
2087 | -1374 | -1454 |
2088 | -1411 | -1493 |
2089 | -1448 | -1532 |
2090 | -1484 | -1570 |
2091 | -1520 | -1607 |
2092 | -1554 | -1644 |
2093 | -1589 | -1681 |
2094 | -1623 | -1716 |
2095 | -1657 | -1752 |
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