Proposed Provision: Beginning for those newly eligible for benefits in 2017, increase the special minimum benefit by making the following changes. (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) Set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,128 in 2009). The PIA per year of coverage (after the first 10 years) would be $1,128/20 = $56.40. (c) Increase the PIA per year of coverage from 2009 to the year of implementation, 2017, using the chain-CPI index; then index the initial PIA per year of coverage by wage growth for successive cohorts, so that the special minimum keeps up with the wage-indexed benefit formula. Scale work requirements for disabled workers based on the years of potential work (not disabled).
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2010 | 355 | 355 |
2011 | 353 | 353 |
2012 | 350 | 350 |
2013 | 346 | 346 |
2014 | 341 | 341 |
2015 | 335 | 335 |
2016 | 330 | 330 |
2017 | 324 | 324 |
2018 | 317 | 317 |
2019 | 309 | 308 |
2020 | 299 | 298 |
2021 | 289 | 287 |
2022 | 277 | 275 |
2023 | 264 | 262 |
2024 | 251 | 248 |
2025 | 237 | 233 |
2026 | 221 | 217 |
2027 | 205 | 201 |
2028 | 189 | 184 |
2029 | 171 | 166 |
2030 | 154 | 148 |
2031 | 136 | 129 |
2032 | 117 | 109 |
2033 | 98 | 90 |
2034 | 79 | 70 |
2035 | 59 | 49 |
2036 | 39 | 28 |
2037 | 19 | 7 |
2038 | -1 | -14 |
2039 | -21 | -35 |
2040 | -42 | -57 |
2041 | -63 | -79 |
2042 | -84 | -101 |
2043 | -105 | -123 |
2044 | -126 | -145 |
2045 | -147 | -167 |
2046 | -168 | -189 |
2047 | -189 | -212 |
2048 | -211 | -235 |
2049 | -233 | -258 |
2050 | -255 | -281 |
2051 | -277 | -304 |
2052 | -299 | -328 |
2053 | -321 | -352 |
2054 | -344 | -375 |
2055 | -366 | -399 |
2056 | -389 | -424 |
2057 | -412 | -449 |
2058 | -436 | -474 |
2059 | -460 | -499 |
2060 | -485 | -525 |
2061 | -509 | -551 |
2062 | -534 | -578 |
2063 | -560 | -605 |
2064 | -586 | -632 |
2065 | -612 | -660 |
2066 | -638 | -688 |
2067 | -665 | -717 |
2068 | -692 | -745 |
2069 | -720 | -775 |
2070 | -748 | -804 |
2071 | -776 | -834 |
2072 | -805 | -865 |
2073 | -834 | -896 |
2074 | -864 | -927 |
2075 | -894 | -959 |
2076 | -925 | -992 |
2077 | -957 | -1025 |
2078 | -989 | -1059 |
2079 | -1021 | -1093 |
2080 | -1054 | -1128 |
2081 | -1087 | -1163 |
2082 | -1121 | -1199 |
2083 | -1156 | -1235 |
2084 | -1191 | -1272 |
2085 | -1227 | -1310 |
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