Proposed Provision: Beginning for those newly eligible in 2016, 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 $1,216 in 2014). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,216/20 = $60.80. (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
2015308308
2016298297
2017280280
2018264263
2019248247
2020233232
2021219216
2022204201
2023189185
2024173169
2025157153
2026142137
2027126120
2028110103
20299486
20307768
20316050
20324231
20332311
20344-9
2035-16-30
2036-36-52
2037-57-74
2038-78-96
2039-100-119
2040-122-142
2041-144-166
2042-166-189
2043-189-213
2044-211-237
2045-234-262
2046-257-286
2047-280-311
2048-303-336
2049-327-361
2050-351-387
2051-375-412
2052-398-438
2053-423-464
2054-447-490
2055-472-516
2056-496-543
2057-522-570
2058-548-598
2059-574-627
2060-601-656
2061-629-685
2062-657-715
2063-685-746
2064-714-777
2065-744-809
2066-774-841
2067-804-873
2068-835-906
2069-867-940
2070-899-975
2071-932-1010
2072-965-1046
2073-1000-1083
2074-1035-1120
2075-1072-1160
2076-1110-1200
2077-1148-1241
2078-1188-1283
2079-1228-1326
2080-1268-1369
2081-1309-1413
2082-1350-1456
2083-1391-1500
2084-1432-1544
2085-1472-1587
2086-1514-1631
2087-1555-1675
2088-1597-1720
2089-1640-1765
2090-1683-1812
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