Proposed Provision: B5.5. Beginning for those newly eligible in 2022, 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 $1,359 in 2019). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,359/11 = $123.50. (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 |
2020 | 261 | 261 |
2021 | 248 | 248 |
2022 | 233 | 233 |
2023 | 217 | 217 |
2024 | 200 | 200 |
2025 | 183 | 183 |
2026 | 165 | 165 |
2027 | 148 | 147 |
2028 | 130 | 130 |
2029 | 112 | 112 |
2030 | 94 | 93 |
2031 | 76 | 75 |
2032 | 58 | 57 |
2033 | 39 | 38 |
2034 | 20 | 19 |
2035 | 1 | 0 |
2036 | -19 | -20 |
2037 | -38 | -40 |
2038 | -59 | -60 |
2039 | -80 | -81 |
2040 | -101 | -102 |
2041 | -122 | -124 |
2042 | -144 | -146 |
2043 | -166 | -168 |
2044 | -188 | -190 |
2045 | -210 | -212 |
2046 | -232 | -235 |
2047 | -255 | -257 |
2048 | -277 | -280 |
2049 | -299 | -302 |
2050 | -322 | -325 |
2051 | -344 | -348 |
2052 | -367 | -370 |
2053 | -389 | -393 |
2054 | -412 | -416 |
2055 | -434 | -439 |
2056 | -457 | -462 |
2057 | -480 | -485 |
2058 | -504 | -509 |
2059 | -527 | -533 |
2060 | -551 | -557 |
2061 | -575 | -581 |
2062 | -599 | -606 |
2063 | -624 | -631 |
2064 | -650 | -657 |
2065 | -676 | -683 |
2066 | -702 | -709 |
2067 | -728 | -736 |
2068 | -755 | -763 |
2069 | -782 | -790 |
2070 | -809 | -818 |
2071 | -837 | -846 |
2072 | -866 | -875 |
2073 | -895 | -904 |
2074 | -925 | -934 |
2075 | -955 | -965 |
2076 | -986 | -996 |
2077 | -1018 | -1028 |
2078 | -1051 | -1061 |
2079 | -1084 | -1095 |
2080 | -1119 | -1130 |
2081 | -1154 | -1166 |
2082 | -1190 | -1202 |
2083 | -1226 | -1238 |
2084 | -1263 | -1275 |
2085 | -1300 | -1313 |
2086 | -1337 | -1350 |
2087 | -1374 | -1388 |
2088 | -1411 | -1425 |
2089 | -1448 | -1462 |
2090 | -1484 | -1499 |
2091 | -1520 | -1535 |
2092 | -1554 | -1570 |
2093 | -1589 | -1605 |
2094 | -1623 | -1639 |
2095 | -1657 | -1673 |
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