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 |
2020 | 261 | 261 |
2021 | 248 | 248 |
2022 | 233 | 233 |
2023 | 217 | 217 |
2024 | 200 | 200 |
2025 | 183 | 182 |
2026 | 165 | 165 |
2027 | 148 | 147 |
2028 | 130 | 129 |
2029 | 112 | 111 |
2030 | 94 | 92 |
2031 | 76 | 74 |
2032 | 58 | 55 |
2033 | 39 | 37 |
2034 | 20 | 17 |
2035 | 1 | -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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