Proposed Provision: Beginning in 2012, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. 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 2010). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,128/20 = $56.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2011 | 353 | 353 |
2012 | 347 | 347 |
2013 | 341 | 340 |
2014 | 334 | 333 |
2015 | 328 | 326 |
2016 | 321 | 319 |
2017 | 314 | 311 |
2018 | 306 | 302 |
2019 | 296 | 291 |
2020 | 284 | 279 |
2021 | 272 | 266 |
2022 | 259 | 252 |
2023 | 245 | 237 |
2024 | 230 | 221 |
2025 | 214 | 205 |
2026 | 198 | 187 |
2027 | 181 | 169 |
2028 | 164 | 151 |
2029 | 145 | 131 |
2030 | 127 | 111 |
2031 | 107 | 91 |
2032 | 87 | 69 |
2033 | 67 | 48 |
2034 | 46 | 26 |
2035 | 25 | 3 |
2036 | 4 | -20 |
2037 | -18 | -43 |
2038 | -40 | -67 |
2039 | -62 | -91 |
2040 | -85 | -115 |
2041 | -108 | -139 |
2042 | -130 | -164 |
2043 | -153 | -188 |
2044 | -176 | -213 |
2045 | -200 | -239 |
2046 | -223 | -264 |
2047 | -247 | -290 |
2048 | -271 | -316 |
2049 | -295 | -342 |
2050 | -319 | -368 |
2051 | -343 | -395 |
2052 | -368 | -422 |
2053 | -393 | -449 |
2054 | -418 | -476 |
2055 | -443 | -503 |
2056 | -468 | -531 |
2057 | -494 | -559 |
2058 | -521 | -588 |
2059 | -548 | -618 |
2060 | -575 | -647 |
2061 | -602 | -678 |
2062 | -630 | -708 |
2063 | -659 | -739 |
2064 | -687 | -770 |
2065 | -716 | -802 |
2066 | -746 | -834 |
2067 | -775 | -866 |
2068 | -805 | -899 |
2069 | -835 | -932 |
2070 | -866 | -965 |
2071 | -897 | -999 |
2072 | -928 | -1033 |
2073 | -960 | -1068 |
2074 | -992 | -1103 |
2075 | -1025 | -1138 |
2076 | -1058 | -1175 |
2077 | -1092 | -1211 |
2078 | -1126 | -1249 |
2079 | -1161 | -1287 |
2080 | -1196 | -1325 |
2081 | -1232 | -1364 |
2082 | -1268 | -1403 |
2083 | -1305 | -1443 |
2084 | -1342 | -1484 |
2085 | -1380 | -1525 |
2086 | -1419 | -1566 |
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