Proposed Provision: Beginning in 2014, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 5, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,164 in 2012). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,164/20 = $58.20. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2013330330
2014315315
2015301300
2016286285
2017271270
2018257256
2019244242
2020231228
2021218214
2022204199
2023189183
2024173167
2025158151
2026142134
2027125116
202810898
20299079
20307160
20315239
20323118
203311-4
2034-11-26
2035-32-50
2036-55-73
2037-78-97
2038-101-122
2039-124-147
2040-148-172
2041-172-197
2042-196-223
2043-220-249
2044-245-275
2045-269-301
2046-294-328
2047-319-355
2048-345-382
2049-371-410
2050-397-438
2051-423-466
2052-449-494
2053-476-523
2054-502-551
2055-530-580
2056-557-610
2057-585-640
2058-613-670
2059-642-701
2060-671-733
2061-701-765
2062-732-798
2063-763-831
2064-794-865
2065-826-899
2066-859-934
2067-892-970
2068-925-1005
2069-959-1042
2070-993-1079
2071-1028-1116
2072-1064-1155
2073-1101-1194
2074-1139-1235
2075-1178-1276
2076-1217-1319
2077-1258-1362
2078-1299-1406
2079-1340-1451
2080-1382-1496
2081-1424-1540
2082-1466-1585
2083-1508-1630
2084-1550-1675
2085-1592-1720
2086-1635-1766
2087-1678-1812
2088-1722-1859
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