Proposed Provision: Beginning for those newly eligible in 2017, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which either 20 percent of the "old law maximum" is earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level (about $1,258 in 2014). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,258/11 = $114.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2015 | 308 | 308 |
2016 | 298 | 298 |
2017 | 280 | 280 |
2018 | 264 | 264 |
2019 | 248 | 248 |
2020 | 233 | 233 |
2021 | 219 | 218 |
2022 | 204 | 203 |
2023 | 189 | 188 |
2024 | 173 | 172 |
2025 | 157 | 156 |
2026 | 142 | 140 |
2027 | 126 | 124 |
2028 | 110 | 108 |
2029 | 94 | 92 |
2030 | 77 | 75 |
2031 | 60 | 57 |
2032 | 42 | 39 |
2033 | 23 | 19 |
2034 | 4 | 0 |
2035 | -16 | -20 |
2036 | -36 | -41 |
2037 | -57 | -62 |
2038 | -78 | -84 |
2039 | -100 | -106 |
2040 | -122 | -128 |
2041 | -144 | -150 |
2042 | -166 | -173 |
2043 | -189 | -196 |
2044 | -211 | -219 |
2045 | -234 | -242 |
2046 | -257 | -266 |
2047 | -280 | -290 |
2048 | -303 | -314 |
2049 | -327 | -338 |
2050 | -351 | -362 |
2051 | -375 | -386 |
2052 | -398 | -411 |
2053 | -423 | -436 |
2054 | -447 | -460 |
2055 | -472 | -486 |
2056 | -496 | -511 |
2057 | -522 | -537 |
2058 | -548 | -564 |
2059 | -574 | -591 |
2060 | -601 | -618 |
2061 | -629 | -647 |
2062 | -657 | -675 |
2063 | -685 | -704 |
2064 | -714 | -734 |
2065 | -744 | -764 |
2066 | -774 | -795 |
2067 | -804 | -826 |
2068 | -835 | -858 |
2069 | -867 | -890 |
2070 | -899 | -923 |
2071 | -932 | -956 |
2072 | -965 | -991 |
2073 | -1000 | -1026 |
2074 | -1035 | -1063 |
2075 | -1072 | -1100 |
2076 | -1110 | -1139 |
2077 | -1148 | -1178 |
2078 | -1188 | -1218 |
2079 | -1228 | -1259 |
2080 | -1268 | -1301 |
2081 | -1309 | -1342 |
2082 | -1350 | -1384 |
2083 | -1391 | -1426 |
2084 | -1432 | -1468 |
2085 | -1472 | -1509 |
2086 | -1514 | -1551 |
2087 | -1555 | -1594 |
2088 | -1597 | -1637 |
2089 | -1640 | -1680 |
2090 | -1683 | -1724 |
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