Proposed Provision: Beginning in 2013, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,134 in 2011). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,134/20 = $56.70. (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
2012340340
2013329329
2014315315
2015302302
2016290289
2017277276
2018265264
2019253251
2020240238
2021227224
2022212209
2023197193
2024181176
2025164159
2026147141
2027129122
2028110103
20299082
20307061
20314939
20322716
20335-7
2034-18-31
2035-41-55
2036-65-80
2037-89-105
2038-114-130
2039-138-156
2040-163-182
2041-189-209
2042-215-236
2043-240-263
2044-266-290
2045-292-318
2046-319-345
2047-346-374
2048-373-402
2049-400-431
2050-428-460
2051-456-489
2052-484-519
2053-512-549
2054-540-578
2055-569-609
2056-598-639
2057-628-670
2058-657-702
2059-688-734
2060-719-767
2061-750-800
2062-782-834
2063-814-868
2064-847-902
2065-880-937
2066-913-972
2067-946-1007
2068-980-1043
2069-1014-1078
2070-1049-1115
2071-1084-1152
2072-1120-1190
2073-1156-1228
2074-1193-1266
2075-1230-1306
2076-1268-1346
2077-1307-1387
2078-1346-1428
2079-1385-1469
2080-1425-1511
2081-1465-1553
2082-1505-1596
2083-1547-1639
2084-1588-1683
2085-1631-1727
2086-1673-1772
2087-1717-1818
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