Proposed Provision: Beginning in 2014, 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 $1,164 in 2012). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,164/20 = $58.20. (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
2013330330
2014315315
2015301301
2016286285
2017271270
2018257256
2019244243
2020231229
2021218215
2022204201
2023189185
2024173170
2025158153
2026142137
2027125119
2028108102
20299083
20307163
20315243
20323122
2033111
2034-11-21
2035-32-44
2036-55-67
2037-78-91
2038-101-115
2039-124-140
2040-148-165
2041-172-190
2042-196-215
2043-220-241
2044-245-266
2045-269-292
2046-294-318
2047-319-345
2048-345-372
2049-371-399
2050-397-426
2051-423-454
2052-449-481
2053-476-509
2054-502-538
2055-530-566
2056-557-595
2057-585-625
2058-613-655
2059-642-685
2060-671-716
2061-701-748
2062-732-780
2063-763-813
2064-794-846
2065-826-880
2066-859-914
2067-892-948
2068-925-984
2069-959-1019
2070-993-1056
2071-1028-1093
2072-1064-1131
2073-1101-1170
2074-1139-1209
2075-1178-1250
2076-1217-1292
2077-1258-1335
2078-1299-1378
2079-1340-1422
2080-1382-1466
2081-1424-1510
2082-1466-1554
2083-1508-1598
2084-1550-1642
2085-1592-1687
2086-1635-1732
2087-1678-1777
2088-1722-1823
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