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.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2010 | 355 | 355 |
2011 | 353 | 353 |
2012 | 350 | 350 |
2013 | 346 | 345 |
2014 | 341 | 339 |
2015 | 335 | 334 |
2016 | 330 | 327 |
2017 | 324 | 321 |
2018 | 317 | 313 |
2019 | 309 | 304 |
2020 | 299 | 294 |
2021 | 289 | 283 |
2022 | 277 | 270 |
2023 | 264 | 257 |
2024 | 251 | 242 |
2025 | 237 | 227 |
2026 | 221 | 211 |
2027 | 205 | 194 |
2028 | 189 | 176 |
2029 | 171 | 158 |
2030 | 154 | 139 |
2031 | 136 | 120 |
2032 | 117 | 100 |
2033 | 98 | 80 |
2034 | 79 | 59 |
2035 | 59 | 38 |
2036 | 39 | 17 |
2037 | 19 | -5 |
2038 | -1 | -27 |
2039 | -21 | -49 |
2040 | -42 | -71 |
2041 | -63 | -93 |
2042 | -84 | -116 |
2043 | -105 | -138 |
2044 | -126 | -161 |
2045 | -147 | -184 |
2046 | -168 | -207 |
2047 | -189 | -230 |
2048 | -211 | -254 |
2049 | -233 | -277 |
2050 | -255 | -301 |
2051 | -277 | -325 |
2052 | -299 | -349 |
2053 | -321 | -374 |
2054 | -344 | -398 |
2055 | -366 | -423 |
2056 | -389 | -448 |
2057 | -412 | -473 |
2058 | -436 | -499 |
2059 | -460 | -525 |
2060 | -485 | -551 |
2061 | -509 | -578 |
2062 | -534 | -605 |
2063 | -560 | -633 |
2064 | -586 | -661 |
2065 | -612 | -689 |
2066 | -638 | -718 |
2067 | -665 | -747 |
2068 | -692 | -776 |
2069 | -720 | -806 |
2070 | -748 | -836 |
2071 | -776 | -867 |
2072 | -805 | -898 |
2073 | -834 | -930 |
2074 | -864 | -962 |
2075 | -894 | -994 |
2076 | -925 | -1027 |
2077 | -957 | -1061 |
2078 | -989 | -1095 |
2079 | -1021 | -1130 |
2080 | -1054 | -1166 |
2081 | -1087 | -1202 |
2082 | -1121 | -1238 |
2083 | -1156 | -1275 |
2084 | -1191 | -1313 |
2085 | -1227 | -1351 |
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