Proposed Provision: B5.2. Beginning for those newly eligible in 2018, reconfigure the special minimum benefit: (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 $1,238 in 2016). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,238/20 = $61.90. (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 |
Current Law |
Provision |
2017 | 298 | 298 |
2018 | 287 | 287 |
2019 | 273 | 273 |
2020 | 259 | 258 |
2021 | 245 | 244 |
2022 | 230 | 230 |
2023 | 215 | 214 |
2024 | 199 | 198 |
2025 | 182 | 181 |
2026 | 165 | 164 |
2027 | 148 | 146 |
2028 | 130 | 128 |
2029 | 112 | 109 |
2030 | 94 | 91 |
2031 | 75 | 72 |
2032 | 56 | 52 |
2033 | 37 | 32 |
2034 | 16 | 12 |
2035 | -4 | -10 |
2036 | -26 | -32 |
2037 | -47 | -54 |
2038 | -70 | -77 |
2039 | -92 | -100 |
2040 | -115 | -123 |
2041 | -138 | -147 |
2042 | -161 | -171 |
2043 | -184 | -194 |
2044 | -207 | -218 |
2045 | -230 | -242 |
2046 | -253 | -266 |
2047 | -276 | -290 |
2048 | -300 | -314 |
2049 | -323 | -338 |
2050 | -346 | -363 |
2051 | -370 | -387 |
2052 | -393 | -411 |
2053 | -417 | -436 |
2054 | -440 | -460 |
2055 | -464 | -485 |
2056 | -487 | -509 |
2057 | -511 | -534 |
2058 | -536 | -560 |
2059 | -560 | -585 |
2060 | -585 | -611 |
2061 | -611 | -638 |
2062 | -637 | -665 |
2063 | -663 | -692 |
2064 | -690 | -720 |
2065 | -717 | -749 |
2066 | -745 | -777 |
2067 | -772 | -806 |
2068 | -801 | -836 |
2069 | -829 | -865 |
2070 | -858 | -896 |
2071 | -888 | -926 |
2072 | -918 | -958 |
2073 | -949 | -990 |
2074 | -981 | -1023 |
2075 | -1014 | -1057 |
2076 | -1047 | -1092 |
2077 | -1082 | -1128 |
2078 | -1117 | -1165 |
2079 | -1153 | -1202 |
2080 | -1190 | -1240 |
2081 | -1227 | -1279 |
2082 | -1264 | -1317 |
2083 | -1300 | -1355 |
2084 | -1337 | -1393 |
2085 | -1374 | -1431 |
2086 | -1410 | -1469 |
2087 | -1446 | -1507 |
2088 | -1483 | -1545 |
2089 | -1520 | -1583 |
2090 | -1557 | -1622 |
2091 | -1595 | -1661 |
2092 | -1633 | -1701 |
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