Proposed Provision: B5.5. Beginning for those newly eligible in 2023, 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 $1,376 in 2020). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,376/11 = $125.10. (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
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122122
2029104103
20308584
20316665
20324646
20332726
203477
2035-13-14
2036-33-34
2037-54-55
2038-76-77
2039-97-98
2040-119-121
2041-142-143
2042-165-166
2043-188-189
2044-211-213
2045-235-236
2046-258-260
2047-282-284
2048-306-308
2049-330-332
2050-354-357
2051-378-381
2052-403-406
2053-427-431
2054-452-456
2055-477-481
2056-502-506
2057-527-531
2058-552-557
2059-578-582
2060-604-608
2061-630-635
2062-657-662
2063-684-689
2064-712-717
2065-740-745
2066-768-774
2067-796-802
2068-825-832
2069-855-861
2070-884-891
2071-914-921
2072-945-952
2073-976-983
2074-1007-1014
2075-1039-1046
2076-1071-1079
2077-1105-1113
2078-1139-1148
2079-1175-1184
2080-1211-1220
2081-1248-1257
2082-1286-1295
2083-1324-1334
2084-1363-1373
2085-1403-1413
2086-1443-1453
2087-1483-1494
2088-1524-1535
2089-1564-1576
2090-1604-1616
2091-1643-1655
2092-1681-1693
2093-1718-1730
2094-1754-1767
2095-1789-1803
2096-1825-1838
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