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 |
2021 | 253 | 253 |
2022 | 231 | 231 |
2023 | 214 | 214 |
2024 | 196 | 196 |
2025 | 178 | 178 |
2026 | 159 | 159 |
2027 | 141 | 141 |
2028 | 122 | 122 |
2029 | 104 | 103 |
2030 | 85 | 84 |
2031 | 66 | 65 |
2032 | 46 | 46 |
2033 | 27 | 26 |
2034 | 7 | 7 |
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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