Proposed Provision: Increase the PIA to a level such that a worker with 30 years of earnings at the minimum wage level receives an adjusted PIA equal to 120 percent of the Federal poverty level for an aged individual. This provision takes full effect for all newly eligible OASDI workers in 2030, and is phased in for new eligibles in 2021 through 2029. The percentage increase in PIA is lowered proportionately for those with fewer than 30 years of earnings, down to no enhancement for workers with 20 or fewer years of earnings. (Year-of-work requirements are scaled for disabled workers based on their years of potential work from age 22 to benefit eligibility). The benefit enhancement percentage is reduced proportionately for workers with higher average indexed monthly earnings (AIME), down to no enhancement for those with AIME at least twice that of a 35-year steady minimum wage earner.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2012340340
2013329329
2014315315
2015302302
2016290290
2017277277
2018265265
2019253253
2020240240
2021227227
2022212212
2023197197
2024181181
2025164164
2026147147
2027129129
2028110110
20299090
20307069
20314948
20322726
203353
2034-18-20
2035-41-43
2036-65-67
2037-89-91
2038-114-116
2039-138-141
2040-163-167
2041-189-192
2042-215-218
2043-240-244
2044-266-271
2045-292-297
2046-319-324
2047-346-351
2048-373-378
2049-400-406
2050-428-434
2051-456-462
2052-484-490
2053-512-518
2054-540-547
2055-569-576
2056-598-605
2057-628-635
2058-657-665
2059-688-696
2060-719-727
2061-750-759
2062-782-791
2063-814-823
2064-847-856
2065-880-889
2066-913-923
2067-946-956
2068-980-990
2069-1014-1024
2070-1049-1059
2071-1084-1094
2072-1120-1130
2073-1156-1167
2074-1193-1204
2075-1230-1241
2076-1268-1279
2077-1307-1318
2078-1346-1357
2079-1385-1397
2080-1425-1437
2081-1465-1477
2082-1505-1518
2083-1547-1559
2084-1588-1601
2085-1631-1643
2086-1673-1686
2087-1717-1730
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