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 |
2013 | 330 | 330 |
2014 | 315 | 315 |
2015 | 301 | 301 |
2016 | 286 | 285 |
2017 | 271 | 270 |
2018 | 257 | 256 |
2019 | 244 | 243 |
2020 | 231 | 229 |
2021 | 218 | 215 |
2022 | 204 | 201 |
2023 | 189 | 185 |
2024 | 173 | 170 |
2025 | 158 | 153 |
2026 | 142 | 137 |
2027 | 125 | 119 |
2028 | 108 | 102 |
2029 | 90 | 83 |
2030 | 71 | 63 |
2031 | 52 | 43 |
2032 | 31 | 22 |
2033 | 11 | 1 |
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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