Proposed Provision: B5.6. Beginning for those newly eligible in 2022, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 100 percent of the monthly poverty level (about $1,073 in 2021). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,073/20 = $53.65. (c) From 2021 to the year of implementation, 2022, index the PIA per year of coverage using the CPI index. Then, for later years, index the 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
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122122
2029104103
20308584
20316665
20324645
20332726
203476
2035-13-15
2036-33-35
2037-54-56
2038-76-78
2039-97-100
2040-119-123
2041-142-145
2042-165-168
2043-188-192
2044-211-215
2045-235-239
2046-258-263
2047-282-287
2048-306-312
2049-330-336
2050-354-361
2051-378-386
2052-403-410
2053-427-435
2054-452-461
2055-477-486
2056-502-511
2057-527-537
2058-552-563
2059-578-589
2060-604-615
2061-630-642
2062-657-669
2063-684-697
2064-712-725
2065-740-754
2066-768-782
2067-796-812
2068-825-841
2069-855-871
2070-884-901
2071-914-932
2072-945-963
2073-976-994
2074-1007-1026
2075-1039-1059
2076-1071-1092
2077-1105-1126
2078-1139-1161
2079-1175-1198
2080-1211-1234
2081-1248-1272
2082-1286-1310
2083-1324-1350
2084-1363-1389
2085-1403-1430
2086-1443-1470
2087-1483-1512
2088-1524-1553
2089-1564-1595
2090-1604-1635
2091-1643-1675
2092-1681-1713
2093-1718-1751
2094-1754-1788
2095-1789-1824
2096-1825-1860
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