Proposed Provision: B7.10. Replace the current-law WEP with a new calculation for most OASI and DI benefits based on covered and non-covered earnings, phased in for beneficiaries becoming newly eligible in 2031 through 2040. For this new approach, compute a PIA based on all past earnings (covered and non-covered), and multiply by the "non-covered earnings ratio." This ratio is equal to the current-law concept of the average indexed monthly earnings computed without non-covered earnings divided by a modified average indexed monthly earnings that includes both covered and non-covered earnings in agency records.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 152 | 152 |
| 2027 | 134 | 134 |
| 2028 | 117 | 117 |
| 2029 | 101 | 101 |
| 2030 | 84 | 84 |
| 2031 | 68 | 68 |
| 2032 | 53 | 53 |
| 2033 | 37 | 37 |
| 2034 | 22 | 22 |
| 2035 | 7 | 7 |
| 2036 | -9 | -9 |
| 2037 | -26 | -26 |
| 2038 | -43 | -43 |
| 2039 | -60 | -60 |
| 2040 | -78 | -78 |
| 2041 | -96 | -96 |
| 2042 | -115 | -115 |
| 2043 | -135 | -134 |
| 2044 | -154 | -154 |
| 2045 | -174 | -174 |
| 2046 | -194 | -194 |
| 2047 | -215 | -214 |
| 2048 | -235 | -235 |
| 2049 | -256 | -256 |
| 2050 | -277 | -277 |
| 2051 | -299 | -298 |
| 2052 | -320 | -319 |
| 2053 | -342 | -341 |
| 2054 | -364 | -363 |
| 2055 | -386 | -385 |
| 2056 | -409 | -407 |
| 2057 | -431 | -429 |
| 2058 | -455 | -452 |
| 2059 | -478 | -476 |
| 2060 | -502 | -500 |
| 2061 | -527 | -524 |
| 2062 | -553 | -550 |
| 2063 | -579 | -575 |
| 2064 | -605 | -602 |
| 2065 | -632 | -628 |
| 2066 | -660 | -655 |
| 2067 | -688 | -683 |
| 2068 | -716 | -711 |
| 2069 | -745 | -739 |
| 2070 | -774 | -768 |
| 2071 | -803 | -797 |
| 2072 | -834 | -827 |
| 2073 | -864 | -858 |
| 2074 | -895 | -888 |
| 2075 | -927 | -920 |
| 2076 | -960 | -952 |
| 2077 | -993 | -985 |
| 2078 | -1027 | -1019 |
| 2079 | -1062 | -1053 |
| 2080 | -1098 | -1089 |
| 2081 | -1134 | -1125 |
| 2082 | -1172 | -1162 |
| 2083 | -1209 | -1199 |
| 2084 | -1248 | -1237 |
| 2085 | -1287 | -1276 |
| 2086 | -1327 | -1316 |
| 2087 | -1368 | -1356 |
| 2088 | -1409 | -1396 |
| 2089 | -1450 | -1437 |
| 2090 | -1491 | -1478 |
| 2091 | -1532 | -1518 |
| 2092 | -1573 | -1558 |
| 2093 | -1612 | -1597 |
| 2094 | -1651 | -1636 |
| 2095 | -1689 | -1673 |
| 2096 | -1727 | -1711 |
| 2097 | -1764 | -1747 |
| 2098 | -1801 | -1784 |
| 2099 | -1838 | -1820 |
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