Proposed Provision: B5.3. Beginning for those newly eligible in 2018, 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 $1,238 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 | 229 |
2023 | 215 | 213 |
2024 | 199 | 197 |
2025 | 182 | 180 |
2026 | 165 | 162 |
2027 | 148 | 144 |
2028 | 130 | 126 |
2029 | 112 | 108 |
2030 | 94 | 89 |
2031 | 75 | 70 |
2032 | 56 | 50 |
2033 | 37 | 29 |
2034 | 16 | 8 |
2035 | -4 | -13 |
2036 | -26 | -35 |
2037 | -47 | -58 |
2038 | -70 | -81 |
2039 | -92 | -105 |
2040 | -115 | -128 |
2041 | -138 | -152 |
2042 | -161 | -177 |
2043 | -184 | -201 |
2044 | -207 | -225 |
2045 | -230 | -249 |
2046 | -253 | -274 |
2047 | -276 | -298 |
2048 | -300 | -323 |
2049 | -323 | -347 |
2050 | -346 | -372 |
2051 | -370 | -397 |
2052 | -393 | -422 |
2053 | -417 | -446 |
2054 | -440 | -471 |
2055 | -464 | -496 |
2056 | -487 | -521 |
2057 | -511 | -547 |
2058 | -536 | -573 |
2059 | -560 | -599 |
2060 | -585 | -626 |
2061 | -611 | -653 |
2062 | -637 | -680 |
2063 | -663 | -708 |
2064 | -690 | -737 |
2065 | -717 | -766 |
2066 | -745 | -795 |
2067 | -772 | -824 |
2068 | -801 | -854 |
2069 | -829 | -885 |
2070 | -858 | -915 |
2071 | -888 | -947 |
2072 | -918 | -979 |
2073 | -949 | -1012 |
2074 | -981 | -1046 |
2075 | -1014 | -1080 |
2076 | -1047 | -1116 |
2077 | -1082 | -1152 |
2078 | -1117 | -1190 |
2079 | -1153 | -1228 |
2080 | -1190 | -1267 |
2081 | -1227 | -1306 |
2082 | -1264 | -1345 |
2083 | -1300 | -1384 |
2084 | -1337 | -1422 |
2085 | -1374 | -1461 |
2086 | -1410 | -1499 |
2087 | -1446 | -1538 |
2088 | -1483 | -1577 |
2089 | -1520 | -1616 |
2090 | -1557 | -1655 |
2091 | -1595 | -1695 |
2092 | -1633 | -1735 |
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