Proposed Provision: B5.3. Beginning for those newly eligible in 2017, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 5, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,226 in 2015). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,226/20 = $61.30. (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 |
2016 | 303 | 303 |
2017 | 293 | 293 |
2018 | 277 | 277 |
2019 | 262 | 261 |
2020 | 246 | 245 |
2021 | 231 | 230 |
2022 | 216 | 214 |
2023 | 200 | 197 |
2024 | 183 | 180 |
2025 | 165 | 162 |
2026 | 149 | 145 |
2027 | 132 | 127 |
2028 | 115 | 110 |
2029 | 98 | 92 |
2030 | 81 | 75 |
2031 | 64 | 56 |
2032 | 46 | 38 |
2033 | 27 | 18 |
2034 | 8 | -1 |
2035 | -11 | -21 |
2036 | -30 | -42 |
2037 | -50 | -63 |
2038 | -71 | -84 |
2039 | -91 | -106 |
2040 | -112 | -128 |
2041 | -133 | -150 |
2042 | -154 | -172 |
2043 | -176 | -194 |
2044 | -197 | -217 |
2045 | -218 | -239 |
2046 | -240 | -262 |
2047 | -262 | -285 |
2048 | -283 | -308 |
2049 | -305 | -331 |
2050 | -327 | -355 |
2051 | -349 | -378 |
2052 | -371 | -401 |
2053 | -393 | -424 |
2054 | -415 | -448 |
2055 | -437 | -472 |
2056 | -460 | -496 |
2057 | -482 | -520 |
2058 | -506 | -545 |
2059 | -529 | -570 |
2060 | -553 | -595 |
2061 | -578 | -621 |
2062 | -603 | -648 |
2063 | -628 | -675 |
2064 | -654 | -702 |
2065 | -680 | -730 |
2066 | -706 | -758 |
2067 | -733 | -786 |
2068 | -760 | -815 |
2069 | -788 | -845 |
2070 | -816 | -875 |
2071 | -845 | -905 |
2072 | -874 | -936 |
2073 | -905 | -968 |
2074 | -935 | -1001 |
2075 | -967 | -1035 |
2076 | -1000 | -1069 |
2077 | -1033 | -1105 |
2078 | -1068 | -1141 |
2079 | -1102 | -1178 |
2080 | -1138 | -1215 |
2081 | -1173 | -1252 |
2082 | -1208 | -1290 |
2083 | -1243 | -1327 |
2084 | -1279 | -1364 |
2085 | -1314 | -1402 |
2086 | -1349 | -1439 |
2087 | -1384 | -1476 |
2088 | -1419 | -1513 |
2089 | -1455 | -1551 |
2090 | -1491 | -1589 |
2091 | -1528 | -1628 |
back