Proposed Provision: B5.5. Beginning for those newly eligible in 2019, 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 $1,276 in 2016). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,276/11 = $116.00. (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 |
Current Law |
Provision |
2017 | 298 | 298 |
2018 | 287 | 287 |
2019 | 273 | 273 |
2020 | 259 | 259 |
2021 | 245 | 245 |
2022 | 230 | 230 |
2023 | 215 | 215 |
2024 | 199 | 198 |
2025 | 182 | 182 |
2026 | 165 | 165 |
2027 | 148 | 147 |
2028 | 130 | 129 |
2029 | 112 | 111 |
2030 | 94 | 93 |
2031 | 75 | 74 |
2032 | 56 | 55 |
2033 | 37 | 35 |
2034 | 16 | 15 |
2035 | -4 | -6 |
2036 | -26 | -28 |
2037 | -47 | -50 |
2038 | -70 | -72 |
2039 | -92 | -95 |
2040 | -115 | -118 |
2041 | -138 | -141 |
2042 | -161 | -164 |
2043 | -184 | -188 |
2044 | -207 | -211 |
2045 | -230 | -234 |
2046 | -253 | -258 |
2047 | -276 | -281 |
2048 | -300 | -305 |
2049 | -323 | -328 |
2050 | -346 | -352 |
2051 | -370 | -376 |
2052 | -393 | -400 |
2053 | -417 | -423 |
2054 | -440 | -447 |
2055 | -464 | -471 |
2056 | -487 | -495 |
2057 | -511 | -519 |
2058 | -536 | -544 |
2059 | -560 | -569 |
2060 | -585 | -595 |
2061 | -611 | -620 |
2062 | -637 | -647 |
2063 | -663 | -673 |
2064 | -690 | -701 |
2065 | -717 | -728 |
2066 | -745 | -756 |
2067 | -772 | -784 |
2068 | -801 | -813 |
2069 | -829 | -842 |
2070 | -858 | -871 |
2071 | -888 | -901 |
2072 | -918 | -932 |
2073 | -949 | -964 |
2074 | -981 | -996 |
2075 | -1014 | -1029 |
2076 | -1047 | -1063 |
2077 | -1082 | -1098 |
2078 | -1117 | -1134 |
2079 | -1153 | -1170 |
2080 | -1190 | -1207 |
2081 | -1227 | -1245 |
2082 | -1264 | -1282 |
2083 | -1300 | -1319 |
2084 | -1337 | -1357 |
2085 | -1374 | -1394 |
2086 | -1410 | -1431 |
2087 | -1446 | -1467 |
2088 | -1483 | -1505 |
2089 | -1520 | -1542 |
2090 | -1557 | -1579 |
2091 | -1595 | -1618 |
2092 | -1633 | -1656 |
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