Proposed Provision: B7.10. Replace the current-law WEP with a new calculation for most OASI and DI benefits based on covered and non-covered earnings, phased in for beneficiaries becoming newly eligible in 2024 through 2033. For this new approach, compute a PIA based on all past earnings (covered and non-covered), and multiply by the "non-covered earnings ratio." This ratio is equal to the current-law concept of the average indexed monthly earnings computed without non-covered earnings divided by a modified average indexed monthly earnings that includes both covered and non-covered earnings in our records.
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 | 259 |
| 2021 | 245 | 245 |
| 2022 | 230 | 230 |
| 2023 | 215 | 215 |
| 2024 | 199 | 199 |
| 2025 | 182 | 182 |
| 2026 | 165 | 165 |
| 2027 | 148 | 148 |
| 2028 | 130 | 130 |
| 2029 | 112 | 112 |
| 2030 | 94 | 94 |
| 2031 | 75 | 75 |
| 2032 | 56 | 56 |
| 2033 | 37 | 37 |
| 2034 | 16 | 17 |
| 2035 | -4 | -4 |
| 2036 | -26 | -25 |
| 2037 | -47 | -47 |
| 2038 | -70 | -69 |
| 2039 | -92 | -92 |
| 2040 | -115 | -114 |
| 2041 | -138 | -137 |
| 2042 | -161 | -160 |
| 2043 | -184 | -183 |
| 2044 | -207 | -206 |
| 2045 | -230 | -229 |
| 2046 | -253 | -252 |
| 2047 | -276 | -275 |
| 2048 | -300 | -298 |
| 2049 | -323 | -322 |
| 2050 | -346 | -345 |
| 2051 | -370 | -368 |
| 2052 | -393 | -391 |
| 2053 | -417 | -414 |
| 2054 | -440 | -438 |
| 2055 | -464 | -461 |
| 2056 | -487 | -485 |
| 2057 | -511 | -508 |
| 2058 | -536 | -532 |
| 2059 | -560 | -557 |
| 2060 | -585 | -582 |
| 2061 | -611 | -607 |
| 2062 | -637 | -633 |
| 2063 | -663 | -659 |
| 2064 | -690 | -685 |
| 2065 | -717 | -712 |
| 2066 | -745 | -740 |
| 2067 | -772 | -767 |
| 2068 | -801 | -795 |
| 2069 | -829 | -823 |
| 2070 | -858 | -852 |
| 2071 | -888 | -882 |
| 2072 | -918 | -912 |
| 2073 | -949 | -942 |
| 2074 | -981 | -974 |
| 2075 | -1014 | -1006 |
| 2076 | -1047 | -1039 |
| 2077 | -1082 | -1074 |
| 2078 | -1117 | -1109 |
| 2079 | -1153 | -1145 |
| 2080 | -1190 | -1181 |
| 2081 | -1227 | -1217 |
| 2082 | -1264 | -1254 |
| 2083 | -1300 | -1290 |
| 2084 | -1337 | -1327 |
| 2085 | -1374 | -1363 |
| 2086 | -1410 | -1399 |
| 2087 | -1446 | -1435 |
| 2088 | -1483 | -1471 |
| 2089 | -1520 | -1508 |
| 2090 | -1557 | -1544 |
| 2091 | -1595 | -1582 |
| 2092 | -1633 | -1620 |
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