Proposed Provision: B5.4. Beginning for those newly eligible in 2024, 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 $1,238 in 2016). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,238/20 = $61.90. (c) From 2016 to the year of implementation, 2024, index the PIA per year of coverage using the chain-CPI index. Then, for later years, index the 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
2017298298
2018287287
2019273273
2020259259
2021245245
2022230230
2023215215
2024199199
2025182182
2026165165
2027148147
2028130130
2029112112
20309493
20317574
20325655
20333735
20341615
2035-4-6
2036-26-28
2037-47-50
2038-70-73
2039-92-96
2040-115-119
2041-138-142
2042-161-166
2043-184-189
2044-207-213
2045-230-236
2046-253-260
2047-276-284
2048-300-308
2049-323-332
2050-346-356
2051-370-380
2052-393-404
2053-417-428
2054-440-452
2055-464-476
2056-487-501
2057-511-526
2058-536-551
2059-560-576
2060-585-602
2061-611-629
2062-637-655
2063-663-683
2064-690-710
2065-717-738
2066-745-767
2067-772-796
2068-801-825
2069-829-854
2070-858-884
2071-888-915
2072-918-946
2073-949-978
2074-981-1011
2075-1014-1045
2076-1047-1079
2077-1082-1115
2078-1117-1152
2079-1153-1189
2080-1190-1227
2081-1227-1265
2082-1264-1303
2083-1300-1341
2084-1337-1379
2085-1374-1416
2086-1410-1454
2087-1446-1491
2088-1483-1529
2089-1520-1567
2090-1557-1606
2091-1595-1644
2092-1633-1684
back