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 |
2013 | 330 | 330 |
2014 | 315 | 315 |
2015 | 301 | 300 |
2016 | 286 | 285 |
2017 | 271 | 270 |
2018 | 257 | 256 |
2019 | 244 | 242 |
2020 | 231 | 228 |
2021 | 218 | 214 |
2022 | 204 | 199 |
2023 | 189 | 183 |
2024 | 173 | 167 |
2025 | 158 | 151 |
2026 | 142 | 134 |
2027 | 125 | 116 |
2028 | 108 | 98 |
2029 | 90 | 79 |
2030 | 71 | 60 |
2031 | 52 | 39 |
2032 | 31 | 18 |
2033 | 11 | -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 |
back