Proposed Provision: Beginning in 2013, 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 $1,134 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
2015302301
2016290288
2017277275
2018265263
2019253250
2020240236
2021227222
2022212207
2023197190
2024181173
2025164156
2026147138
2027129119
202811099
20299078
20307056
20314934
20322711
20335-12
2034-18-36
2035-41-61
2036-65-86
2037-89-111
2038-114-137
2039-138-164
2040-163-190
2041-189-218
2042-215-245
2043-240-272
2044-266-300
2045-292-328
2046-319-356
2047-346-385
2048-373-414
2049-400-443
2050-428-473
2051-456-503
2052-484-533
2053-512-563
2054-540-594
2055-569-625
2056-598-656
2057-628-688
2058-657-720
2059-688-753
2060-719-786
2061-750-820
2062-782-854
2063-814-889
2064-847-924
2065-880-960
2066-913-995
2067-946-1031
2068-980-1068
2069-1014-1105
2070-1049-1142
2071-1084-1180
2072-1120-1218
2073-1156-1257
2074-1193-1297
2075-1230-1337
2076-1268-1378
2077-1307-1420
2078-1346-1462
2079-1385-1504
2080-1425-1547
2081-1465-1590
2082-1505-1634
2083-1547-1678
2084-1588-1723
2085-1631-1768
2086-1673-1814
2087-1717-1861
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