Proposed Provision: Increase the PIA to a level such that a worker with 30 years of earnings at the minimum wage level would receive an adjusted PIA equal to 120 percent of the Federal poverty level for an aged individual. This provision would take full effect for all newly eligible OASDI workers in 2025, and would be phased in for new eligible in 2016 through 2024. The percentage increase in PIA would be 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 would be 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 Present Law Provision
2008359359
2009369369
2010378378
2011386386
2012392392
2013394394
2014395395
2015393393
2016390390
2017385385
2018378378
2019371370
2020361361
2021351351
2022341340
2023329328
2024316315
2025302300
2026287285
2027272270
2028256253
2029239236
2030221218
2031203199
2032185180
2033166161
2034147141
2035127121
2036108101
20378881
20386760
20394739
20402618
20416-3
2042-15-25
2043-36-46
2044-57-68
2045-78-90
2046-100-112
2047-121-134
2048-143-156
2049-165-179
2050-187-201
2051-209-224
2052-232-247
2053-254-270
2054-277-293
2055-300-317
2056-324-341
2057-347-365
2058-372-390
2059-396-415
2060-421-440
2061-447-466
2062-472-492
2063-498-519
2064-525-546
2065-552-573
2066-579-601
2067-607-629
2068-635-658
2069-664-687
2070-693-716
2071-722-746
2072-752-776
2073-782-807
2074-813-838
2075-845-870
2076-876-902
2077-909-934
2078-942-968
2079-975-1001
2080-1009-1036
2081-1044-1071
2082-1079-1106
2083-1114-1142
2084-1151-1179
2085-1188-1216
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