Proposed Provision: B5.2. Beginning for those newly eligible in 2020, 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 $1,265 in 2018). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,265/20 = $63.25. (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 |
Current Law |
Provision |
2019 | 273 | 273 |
2020 | 260 | 260 |
2021 | 245 | 245 |
2022 | 229 | 229 |
2023 | 213 | 213 |
2024 | 197 | 196 |
2025 | 180 | 179 |
2026 | 163 | 162 |
2027 | 147 | 146 |
2028 | 130 | 129 |
2029 | 114 | 112 |
2030 | 97 | 95 |
2031 | 80 | 78 |
2032 | 63 | 60 |
2033 | 46 | 42 |
2034 | 28 | 24 |
2035 | 10 | 6 |
2036 | -9 | -14 |
2037 | -28 | -33 |
2038 | -47 | -53 |
2039 | -67 | -74 |
2040 | -87 | -95 |
2041 | -108 | -116 |
2042 | -129 | -137 |
2043 | -150 | -159 |
2044 | -171 | -181 |
2045 | -192 | -202 |
2046 | -213 | -224 |
2047 | -234 | -246 |
2048 | -255 | -268 |
2049 | -276 | -290 |
2050 | -297 | -311 |
2051 | -318 | -333 |
2052 | -338 | -355 |
2053 | -359 | -377 |
2054 | -380 | -399 |
2055 | -401 | -421 |
2056 | -422 | -443 |
2057 | -444 | -466 |
2058 | -465 | -488 |
2059 | -487 | -511 |
2060 | -509 | -534 |
2061 | -531 | -557 |
2062 | -554 | -581 |
2063 | -577 | -606 |
2064 | -601 | -630 |
2065 | -625 | -656 |
2066 | -649 | -681 |
2067 | -674 | -707 |
2068 | -699 | -733 |
2069 | -724 | -759 |
2070 | -749 | -786 |
2071 | -776 | -814 |
2072 | -802 | -842 |
2073 | -830 | -870 |
2074 | -857 | -899 |
2075 | -885 | -929 |
2076 | -914 | -959 |
2077 | -944 | -990 |
2078 | -975 | -1023 |
2079 | -1007 | -1056 |
2080 | -1039 | -1090 |
2081 | -1072 | -1124 |
2082 | -1106 | -1159 |
2083 | -1139 | -1194 |
2084 | -1173 | -1230 |
2085 | -1207 | -1266 |
2086 | -1242 | -1301 |
2087 | -1275 | -1337 |
2088 | -1309 | -1372 |
2089 | -1342 | -1407 |
2090 | -1375 | -1441 |
2091 | -1407 | -1475 |
2092 | -1439 | -1508 |
2093 | -1471 | -1542 |
2094 | -1503 | -1575 |
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