Proposed Provision: B5.6. Beginning for those newly eligible in 2023, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 100 percent of the monthly poverty level (about $1,133 in 2022). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,133/20 = $56.65. (c) From 2022 to the year of implementation, 2023, index the PIA per year of coverage using the CPI index. Then, for later years, index the 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
2022230230
2023211211
2024194194
2025177177
2026160159
2027143142
2028126125
2029109108
20309191
20317473
20325756
20333938
20342120
203532
2036-16-17
2037-35-37
2038-54-57
2039-74-77
2040-95-98
2041-116-119
2042-137-140
2043-158-162
2044-180-184
2045-202-206
2046-224-229
2047-246-251
2048-268-274
2049-291-297
2050-313-320
2051-336-343
2052-359-367
2053-383-391
2054-406-415
2055-430-439
2056-453-463
2057-477-487
2058-501-511
2059-525-536
2060-550-562
2061-575-587
2062-601-614
2063-627-640
2064-654-667
2065-681-695
2066-708-723
2067-736-751
2068-764-780
2069-792-809
2070-821-838
2071-850-868
2072-880-898
2073-910-929
2074-940-960
2075-971-992
2076-1003-1024
2077-1036-1057
2078-1069-1092
2079-1104-1127
2080-1139-1163
2081-1175-1200
2082-1212-1237
2083-1249-1275
2084-1286-1313
2085-1324-1352
2086-1363-1392
2087-1402-1432
2088-1442-1472
2089-1481-1512
2090-1520-1551
2091-1558-1590
2092-1595-1629
2093-1632-1666
2094-1668-1703
2095-1703-1739
2096-1738-1775
2097-1773-1810
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