Proposed Provision: B5.2. Beginning for those newly eligible in 2022, 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 $1,329 in 2020). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,329/20 = $66.45. (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 |
2021 | 253 | 253 |
2022 | 231 | 231 |
2023 | 214 | 214 |
2024 | 196 | 196 |
2025 | 178 | 178 |
2026 | 159 | 159 |
2027 | 141 | 140 |
2028 | 122 | 122 |
2029 | 104 | 103 |
2030 | 85 | 84 |
2031 | 66 | 64 |
2032 | 46 | 45 |
2033 | 27 | 25 |
2034 | 7 | 5 |
2035 | -13 | -15 |
2036 | -33 | -36 |
2037 | -54 | -58 |
2038 | -76 | -79 |
2039 | -97 | -102 |
2040 | -119 | -124 |
2041 | -142 | -147 |
2042 | -165 | -170 |
2043 | -188 | -194 |
2044 | -211 | -218 |
2045 | -235 | -242 |
2046 | -258 | -266 |
2047 | -282 | -291 |
2048 | -306 | -315 |
2049 | -330 | -340 |
2050 | -354 | -365 |
2051 | -378 | -390 |
2052 | -403 | -415 |
2053 | -427 | -440 |
2054 | -452 | -466 |
2055 | -477 | -492 |
2056 | -502 | -517 |
2057 | -527 | -543 |
2058 | -552 | -569 |
2059 | -578 | -596 |
2060 | -604 | -623 |
2061 | -630 | -650 |
2062 | -657 | -677 |
2063 | -684 | -706 |
2064 | -712 | -734 |
2065 | -740 | -763 |
2066 | -768 | -792 |
2067 | -796 | -822 |
2068 | -825 | -852 |
2069 | -855 | -882 |
2070 | -884 | -913 |
2071 | -914 | -944 |
2072 | -945 | -976 |
2073 | -976 | -1007 |
2074 | -1007 | -1040 |
2075 | -1039 | -1073 |
2076 | -1071 | -1107 |
2077 | -1105 | -1141 |
2078 | -1139 | -1177 |
2079 | -1175 | -1214 |
2080 | -1211 | -1251 |
2081 | -1248 | -1290 |
2082 | -1286 | -1329 |
2083 | -1324 | -1368 |
2084 | -1363 | -1409 |
2085 | -1403 | -1450 |
2086 | -1443 | -1491 |
2087 | -1483 | -1533 |
2088 | -1524 | -1575 |
2089 | -1564 | -1617 |
2090 | -1604 | -1658 |
2091 | -1643 | -1699 |
2092 | -1681 | -1738 |
2093 | -1718 | -1776 |
2094 | -1754 | -1814 |
2095 | -1789 | -1851 |
2096 | -1825 | -1887 |
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