Proposed Provision: B5.1. Increase the PIA to a level such that a worker with 30 years of earnings at the minimum wage level receives an adjusted PIA equal to 120 percent of the Federal poverty level for an aged individual. This provision takes full effect for all newly eligible OASDI workers in 2040, and is phased in for new eligibles in 2031 through 2039. The percentage increase in PIA is lowered proportionately for those with fewer than 30 years of earnings, down to no enhancement for workers with 20 or fewer years of earnings. (Year-of-work requirements are "scaled" for disabled workers based on their years of potential work from age 22 to benefit eligibility). The benefit enhancement percentage is reduced proportionately for workers with higher average indexed monthly earnings (AIME), down to no enhancement for those with AIME at least twice that of a 35-year steady minimum wage earner.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2022230230
2023211211
2024194194
2025177177
2026160160
2027143143
2028126126
2029109109
20309191
20317474
20325757
20333939
20342121
203533
2036-16-16
2037-35-35
2038-54-55
2039-74-75
2040-95-95
2041-116-116
2042-137-137
2043-158-159
2044-180-180
2045-202-202
2046-224-224
2047-246-247
2048-268-269
2049-291-292
2050-313-314
2051-336-337
2052-359-360
2053-383-384
2054-406-407
2055-430-431
2056-453-454
2057-477-478
2058-501-502
2059-525-527
2060-550-551
2061-575-577
2062-601-602
2063-627-629
2064-654-655
2065-681-682
2066-708-710
2067-736-738
2068-764-766
2069-792-794
2070-821-823
2071-850-852
2072-880-882
2073-910-912
2074-940-943
2075-971-974
2076-1003-1006
2077-1036-1038
2078-1069-1072
2079-1104-1106
2080-1139-1142
2081-1175-1178
2082-1212-1214
2083-1249-1251
2084-1286-1289
2085-1324-1327
2086-1363-1366
2087-1402-1405
2088-1442-1445
2089-1481-1484
2090-1520-1523
2091-1558-1561
2092-1595-1598
2093-1632-1635
2094-1668-1671
2095-1703-1707
2096-1738-1741
2097-1773-1776
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