Proposed Provision: B7.10. Replace the current-law WEP with a new calculation for most OASI and DI benefits based on covered and non-covered earnings, phased in for beneficiaries becoming newly eligible in 2027 through 2036. For this new approach, compute a PIA based on all past earnings (covered and non-covered), and multiply by the "non-covered earnings ratio." This ratio is equal to the current-law concept of the average indexed monthly earnings computed without non-covered earnings divided by a modified average indexed monthly earnings that includes both covered and non-covered earnings in our records.
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 | 148 |
| 2028 | 130 | 130 |
| 2029 | 112 | 112 |
| 2030 | 94 | 94 |
| 2031 | 76 | 76 |
| 2032 | 58 | 58 |
| 2033 | 39 | 39 |
| 2034 | 20 | 20 |
| 2035 | 1 | 1 |
| 2036 | -19 | -18 |
| 2037 | -38 | -38 |
| 2038 | -59 | -59 |
| 2039 | -80 | -79 |
| 2040 | -101 | -100 |
| 2041 | -122 | -122 |
| 2042 | -144 | -143 |
| 2043 | -166 | -165 |
| 2044 | -188 | -187 |
| 2045 | -210 | -209 |
| 2046 | -232 | -231 |
| 2047 | -255 | -253 |
| 2048 | -277 | -276 |
| 2049 | -299 | -298 |
| 2050 | -322 | -320 |
| 2051 | -344 | -342 |
| 2052 | -367 | -364 |
| 2053 | -389 | -387 |
| 2054 | -412 | -409 |
| 2055 | -434 | -432 |
| 2056 | -457 | -454 |
| 2057 | -480 | -477 |
| 2058 | -504 | -500 |
| 2059 | -527 | -523 |
| 2060 | -551 | -547 |
| 2061 | -575 | -571 |
| 2062 | -599 | -595 |
| 2063 | -624 | -619 |
| 2064 | -650 | -644 |
| 2065 | -676 | -670 |
| 2066 | -702 | -696 |
| 2067 | -728 | -722 |
| 2068 | -755 | -748 |
| 2069 | -782 | -775 |
| 2070 | -809 | -802 |
| 2071 | -837 | -830 |
| 2072 | -866 | -858 |
| 2073 | -895 | -887 |
| 2074 | -925 | -916 |
| 2075 | -955 | -946 |
| 2076 | -986 | -976 |
| 2077 | -1018 | -1008 |
| 2078 | -1051 | -1040 |
| 2079 | -1084 | -1073 |
| 2080 | -1119 | -1107 |
| 2081 | -1154 | -1142 |
| 2082 | -1190 | -1177 |
| 2083 | -1226 | -1213 |
| 2084 | -1263 | -1249 |
| 2085 | -1300 | -1286 |
| 2086 | -1337 | -1323 |
| 2087 | -1374 | -1360 |
| 2088 | -1411 | -1396 |
| 2089 | -1448 | -1432 |
| 2090 | -1484 | -1468 |
| 2091 | -1520 | -1503 |
| 2092 | -1554 | -1537 |
| 2093 | -1589 | -1571 |
| 2094 | -1623 | -1605 |
| 2095 | -1657 | -1638 |
back