Proposed Provision: Beginning in 2011, increase the special minimum benefit by making the following changes: (a) A year of coverage is defined to be either a childcare year or a year in which 4 quarters of coverage are earned. Childcare years are granted to parents who have a child under 5, with a limit of 8 such years. (b) At implementation, 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) 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.
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 | 344 |
2014 | 341 | 339 |
2015 | 335 | 333 |
2016 | 330 | 326 |
2017 | 324 | 319 |
2018 | 317 | 311 |
2019 | 309 | 302 |
2020 | 299 | 292 |
2021 | 289 | 280 |
2022 | 277 | 267 |
2023 | 264 | 253 |
2024 | 251 | 238 |
2025 | 237 | 222 |
2026 | 221 | 206 |
2027 | 205 | 188 |
2028 | 189 | 170 |
2029 | 171 | 152 |
2030 | 154 | 132 |
2031 | 136 | 112 |
2032 | 117 | 92 |
2033 | 98 | 72 |
2034 | 79 | 50 |
2035 | 59 | 29 |
2036 | 39 | 7 |
2037 | 19 | -15 |
2038 | -1 | -37 |
2039 | -21 | -60 |
2040 | -42 | -83 |
2041 | -63 | -106 |
2042 | -84 | -129 |
2043 | -105 | -152 |
2044 | -126 | -175 |
2045 | -147 | -199 |
2046 | -168 | -222 |
2047 | -189 | -246 |
2048 | -211 | -270 |
2049 | -233 | -295 |
2050 | -255 | -319 |
2051 | -277 | -344 |
2052 | -299 | -369 |
2053 | -321 | -394 |
2054 | -344 | -419 |
2055 | -366 | -444 |
2056 | -389 | -470 |
2057 | -412 | -496 |
2058 | -436 | -522 |
2059 | -460 | -549 |
2060 | -485 | -577 |
2061 | -509 | -604 |
2062 | -534 | -632 |
2063 | -560 | -661 |
2064 | -586 | -690 |
2065 | -612 | -719 |
2066 | -638 | -748 |
2067 | -665 | -778 |
2068 | -692 | -808 |
2069 | -720 | -839 |
2070 | -748 | -870 |
2071 | -776 | -902 |
2072 | -805 | -934 |
2073 | -834 | -966 |
2074 | -864 | -999 |
2075 | -894 | -1033 |
2076 | -925 | -1067 |
2077 | -957 | -1101 |
2078 | -989 | -1137 |
2079 | -1021 | -1173 |
2080 | -1054 | -1209 |
2081 | -1087 | -1246 |
2082 | -1121 | -1283 |
2083 | -1156 | -1321 |
2084 | -1191 | -1360 |
2085 | -1227 | -1399 |
back