Summary Measures and Graphs

Description of Proposed Provision:
Reconfigure the special minimum benefit to ensure that an individual with at least 30 creditable years of earnings (equal to at least 20% of the old law taxable maximum) would receive a PIA of 133 percent of the Aged Federal poverty level, with the formula phased linearly from zero for workers with 19 creditable years to 133 percent of poverty for those with 30 creditable years. Up to 8 years with own child under the age of 6 could be used as creditable years, if not otherwise counted as a creditable year. Scale the creditable year requirements and number of child-care years for disabled workers and workers dying under age 62 based on the proportion of years from 22 through 61 alive and not disabled. This provision is effective for individuals newly eligible for benefits in 2012 and later. Wage-index the poverty level from 2009 up to 2 years prior to benefit eligibility.