Proposed Provision: B5.2. Beginning for those newly eligible in 2021, 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 $1,301 in 2019). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,301/20 = $65.05. (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
2020261261
2021248248
2022233233
2023217217
2024200200
2025183182
2026165165
2027148147
2028130129
2029112111
20309492
20317674
20325855
20333937
20342017
20351-2
2036-19-22
2037-38-43
2038-59-63
2039-80-85
2040-101-106
2041-122-128
2042-144-150
2043-166-173
2044-188-195
2045-210-218
2046-232-241
2047-255-264
2048-277-287
2049-299-310
2050-322-334
2051-344-357
2052-367-380
2053-389-403
2054-412-427
2055-434-450
2056-457-474
2057-480-498
2058-504-522
2059-527-547
2060-551-571
2061-575-596
2062-599-622
2063-624-648
2064-650-674
2065-676-701
2066-702-728
2067-728-756
2068-755-783
2069-782-812
2070-809-840
2071-837-869
2072-866-899
2073-895-929
2074-925-960
2075-955-991
2076-986-1023
2077-1018-1056
2078-1051-1090
2079-1084-1125
2080-1119-1161
2081-1154-1198
2082-1190-1235
2083-1226-1272
2084-1263-1310
2085-1300-1349
2086-1337-1387
2087-1374-1426
2088-1411-1464
2089-1448-1503
2090-1484-1540
2091-1520-1577
2092-1554-1613
2093-1589-1649
2094-1623-1684
2095-1657-1719
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