Proposed Provision: B7.3. Give credit to parents with a child under 6 for earnings for up to five years. The earnings credited for a childcare year equal one half of the SSA average wage index (about $29,532 in 2021). The credits are available for all past years to newly eligible retired-worker and disabled-worker beneficiaries starting in 2022. The 5 years are chosen to yield the largest increase in AIME.
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 | 177 |
2026 | 159 | 158 |
2027 | 141 | 140 |
2028 | 122 | 121 |
2029 | 104 | 102 |
2030 | 85 | 82 |
2031 | 66 | 63 |
2032 | 46 | 43 |
2033 | 27 | 23 |
2034 | 7 | 3 |
2035 | -13 | -18 |
2036 | -33 | -39 |
2037 | -54 | -61 |
2038 | -76 | -83 |
2039 | -97 | -105 |
2040 | -119 | -128 |
2041 | -142 | -151 |
2042 | -165 | -175 |
2043 | -188 | -199 |
2044 | -211 | -224 |
2045 | -235 | -248 |
2046 | -258 | -273 |
2047 | -282 | -297 |
2048 | -306 | -322 |
2049 | -330 | -348 |
2050 | -354 | -373 |
2051 | -378 | -398 |
2052 | -403 | -424 |
2053 | -427 | -450 |
2054 | -452 | -476 |
2055 | -477 | -502 |
2056 | -502 | -528 |
2057 | -527 | -555 |
2058 | -552 | -581 |
2059 | -578 | -608 |
2060 | -604 | -635 |
2061 | -630 | -663 |
2062 | -657 | -691 |
2063 | -684 | -720 |
2064 | -712 | -749 |
2065 | -740 | -778 |
2066 | -768 | -808 |
2067 | -796 | -838 |
2068 | -825 | -868 |
2069 | -855 | -899 |
2070 | -884 | -930 |
2071 | -914 | -961 |
2072 | -945 | -993 |
2073 | -976 | -1026 |
2074 | -1007 | -1058 |
2075 | -1039 | -1092 |
2076 | -1071 | -1126 |
2077 | -1105 | -1161 |
2078 | -1139 | -1197 |
2079 | -1175 | -1234 |
2080 | -1211 | -1272 |
2081 | -1248 | -1311 |
2082 | -1286 | -1350 |
2083 | -1324 | -1391 |
2084 | -1363 | -1432 |
2085 | -1403 | -1473 |
2086 | -1443 | -1515 |
2087 | -1483 | -1557 |
2088 | -1524 | -1600 |
2089 | -1564 | -1643 |
2090 | -1604 | -1684 |
2091 | -1643 | -1725 |
2092 | -1681 | -1765 |
2093 | -1718 | -1803 |
2094 | -1754 | -1842 |
2095 | -1789 | -1879 |
2096 | -1825 | -1916 |
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