Proposed Provision: B5.10. Reconfigure the special minimum benefit, phased in for retired and disabled workers newly eligible from 2029 through 2038: (a) A year of work (YOW) coverage is equal to earnings at or above $10,875 in 2022 (reflecting a full-time worker earning the federal minimum wage), adjusted thereafter for wage growth. (b) At implementation, set the minimum PIA at zero percent of AWI for those with 10 or fewer YOWs to 15 percent of AWI for those with 15 YOWs, increasing linearly so that it reaches 19 percent for 19 YOWs. Then the minimum PIA would jump up to 25 percent of AWI for those with 20 YOWs, increasing linearly so that it equals 35 percent of AWI for those with 35 or more YOWs. (c) Use the AWI for two years prior to the year of initial eligibility in the minimum PIA calculation with COLA increase after the year of initial eligibility. (d) Scale the YOW 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
2026160160
2027143143
2028126126
2029109109
20309191
20317474
20325757
20333939
20342121
203533
2036-16-16
2037-35-36
2038-54-55
2039-74-76
2040-95-97
2041-116-118
2042-137-140
2043-158-162
2044-180-184
2045-202-206
2046-224-229
2047-246-252
2048-268-276
2049-291-299
2050-313-323
2051-336-347
2052-359-371
2053-383-396
2054-406-421
2055-430-446
2056-453-471
2057-477-496
2058-501-522
2059-525-548
2060-550-574
2061-575-601
2062-601-628
2063-627-656
2064-654-685
2065-681-714
2066-708-743
2067-736-773
2068-764-803
2069-792-834
2070-821-865
2071-850-896
2072-880-928
2073-910-960
2074-940-993
2075-971-1026
2076-1003-1061
2077-1036-1096
2078-1069-1132
2079-1104-1169
2080-1139-1207
2081-1175-1245
2082-1212-1285
2083-1249-1325
2084-1286-1365
2085-1324-1406
2086-1363-1448
2087-1402-1490
2088-1442-1532
2089-1481-1574
2090-1520-1616
2091-1558-1658
2092-1595-1698
2093-1632-1738
2094-1668-1777
2095-1703-1815
2096-1738-1853
2097-1773-1891
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