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
2017298298
2018287287
2019273273
2020259258
2021245244
2022230229
2023215213
2024199197
2025182180
2026165162
2027148144
2028130126
2029112108
20309489
20317570
20325650
20333729
2034168
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
back