Proposed Provision: Beginning for those newly eligible in 2016, 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 $1,216 in 2014). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,216/20 = $60.80. (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 |
2015 | 308 | 308 |
2016 | 298 | 297 |
2017 | 280 | 280 |
2018 | 264 | 264 |
2019 | 248 | 248 |
2020 | 233 | 232 |
2021 | 219 | 217 |
2022 | 204 | 202 |
2023 | 189 | 186 |
2024 | 173 | 170 |
2025 | 157 | 155 |
2026 | 142 | 139 |
2027 | 126 | 122 |
2028 | 110 | 106 |
2029 | 94 | 89 |
2030 | 77 | 72 |
2031 | 60 | 54 |
2032 | 42 | 35 |
2033 | 23 | 15 |
2034 | 4 | -5 |
2035 | -16 | -25 |
2036 | -36 | -46 |
2037 | -57 | -68 |
2038 | -78 | -90 |
2039 | -100 | -112 |
2040 | -122 | -135 |
2041 | -144 | -158 |
2042 | -166 | -181 |
2043 | -189 | -205 |
2044 | -211 | -228 |
2045 | -234 | -252 |
2046 | -257 | -277 |
2047 | -280 | -301 |
2048 | -303 | -325 |
2049 | -327 | -350 |
2050 | -351 | -375 |
2051 | -375 | -400 |
2052 | -398 | -425 |
2053 | -423 | -451 |
2054 | -447 | -476 |
2055 | -472 | -502 |
2056 | -496 | -528 |
2057 | -522 | -555 |
2058 | -548 | -583 |
2059 | -574 | -610 |
2060 | -601 | -639 |
2061 | -629 | -668 |
2062 | -657 | -697 |
2063 | -685 | -727 |
2064 | -714 | -758 |
2065 | -744 | -789 |
2066 | -774 | -820 |
2067 | -804 | -852 |
2068 | -835 | -885 |
2069 | -867 | -918 |
2070 | -899 | -952 |
2071 | -932 | -986 |
2072 | -965 | -1021 |
2073 | -1000 | -1058 |
2074 | -1035 | -1095 |
2075 | -1072 | -1133 |
2076 | -1110 | -1173 |
2077 | -1148 | -1213 |
2078 | -1188 | -1255 |
2079 | -1228 | -1297 |
2080 | -1268 | -1339 |
2081 | -1309 | -1382 |
2082 | -1350 | -1425 |
2083 | -1391 | -1468 |
2084 | -1432 | -1511 |
2085 | -1472 | -1553 |
2086 | -1514 | -1597 |
2087 | -1555 | -1640 |
2088 | -1597 | -1684 |
2089 | -1640 | -1729 |
2090 | -1683 | -1774 |
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