Proposed Provision: B5.5. Beginning for those newly eligible in 2021, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which either 20 percent of the "old law maximum" is earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level (about $1,335 in 2018). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,335/11 = $121.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2019 | 273 | 273 |
2020 | 260 | 260 |
2021 | 245 | 245 |
2022 | 229 | 229 |
2023 | 213 | 213 |
2024 | 197 | 197 |
2025 | 180 | 180 |
2026 | 163 | 163 |
2027 | 147 | 147 |
2028 | 130 | 130 |
2029 | 114 | 113 |
2030 | 97 | 96 |
2031 | 80 | 79 |
2032 | 63 | 62 |
2033 | 46 | 45 |
2034 | 28 | 27 |
2035 | 10 | 8 |
2036 | -9 | -10 |
2037 | -28 | -30 |
2038 | -47 | -49 |
2039 | -67 | -69 |
2040 | -87 | -90 |
2041 | -108 | -111 |
2042 | -129 | -132 |
2043 | -150 | -153 |
2044 | -171 | -174 |
2045 | -192 | -195 |
2046 | -213 | -216 |
2047 | -234 | -238 |
2048 | -255 | -259 |
2049 | -276 | -280 |
2050 | -297 | -301 |
2051 | -318 | -323 |
2052 | -338 | -344 |
2053 | -359 | -365 |
2054 | -380 | -386 |
2055 | -401 | -408 |
2056 | -422 | -429 |
2057 | -444 | -451 |
2058 | -465 | -472 |
2059 | -487 | -494 |
2060 | -509 | -517 |
2061 | -531 | -539 |
2062 | -554 | -562 |
2063 | -577 | -586 |
2064 | -601 | -610 |
2065 | -625 | -634 |
2066 | -649 | -659 |
2067 | -674 | -684 |
2068 | -699 | -709 |
2069 | -724 | -735 |
2070 | -749 | -761 |
2071 | -776 | -787 |
2072 | -802 | -814 |
2073 | -830 | -842 |
2074 | -857 | -870 |
2075 | -885 | -899 |
2076 | -914 | -928 |
2077 | -944 | -958 |
2078 | -975 | -990 |
2079 | -1007 | -1022 |
2080 | -1039 | -1055 |
2081 | -1072 | -1088 |
2082 | -1106 | -1122 |
2083 | -1139 | -1156 |
2084 | -1173 | -1190 |
2085 | -1207 | -1225 |
2086 | -1242 | -1259 |
2087 | -1275 | -1294 |
2088 | -1309 | -1328 |
2089 | -1342 | -1361 |
2090 | -1375 | -1395 |
2091 | -1407 | -1427 |
2092 | -1439 | -1460 |
2093 | -1471 | -1492 |
2094 | -1503 | -1525 |
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