Proposed Provision: B6.7. Starting in January 2028, provide an addition to monthly benefits for all beneficiaries who have been eligible for at least 20 years, with the following specifications: (1) Augment benefits (not the PIA) for those of qualifying age and eligibility duration with a MAGI below about $27,750 if single and $55,500 if married. MAGI is set to equal the IRMAA definition (AGI plus tax-exempt interest income). Index these thresholds after 2028 by the increase in the C-CPI-U; (2) The full additional amount is applicable for those born 1961 and later, once 24 years elapse from initial eligibility. The basic additional amount is calculated as 5 percent of the PIA for a hypothetical worker with earnings equal to the AWI each year; (3) For those born prior to 1961, the full additional amount is multiplied by the number of years they have been affected by the C-CPI-U, divided by 24; (4) Beneficiaries will receive 20 percent of their additional amount in their 20th year after initial eligibility, 40 percent in their 21st year after initial eligibility,..., and 100 percent of their additional amount in their 24th and later years after benefit eligibility; (5) Retired and disabled worker beneficiaries, dually entitled spouse beneficiaries, and all survivor beneficiaries received their addition as described above. Spousal beneficiaries (aged or with child in care) and child beneficiaries of a living retired or disabled worker receive 50 percent of the additional amount described above. Other beneficiary types (such as parents of deceased workers) will receive the percentage of the flat benefit that equals the percentage of the insured worker's PIA that they receive; (6) The AWI used is for the second year prior to the beneficiary's initial eligibility year, with applicable COLAs applied up to the age when the addition is received; and (7) The additional amount is added to the monthly benefit after reductions for early claiming or increases for delayed claiming have been applied.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2021253253
2022231231
2023214214
2024196196
2025178178
2026159159
2027141141
2028122122
2029104104
20308585
20316666
20324646
20332727
203477
2035-13-13
2036-33-34
2037-54-55
2038-76-77
2039-97-98
2040-119-121
2041-142-143
2042-165-166
2043-188-190
2044-211-213
2045-235-237
2046-258-261
2047-282-285
2048-306-309
2049-330-333
2050-354-358
2051-378-383
2052-403-408
2053-427-433
2054-452-458
2055-477-483
2056-502-509
2057-527-534
2058-552-560
2059-578-586
2060-604-612
2061-630-639
2062-657-666
2063-684-694
2064-712-722
2065-740-750
2066-768-779
2067-796-808
2068-825-837
2069-855-867
2070-884-897
2071-914-927
2072-945-958
2073-976-990
2074-1007-1021
2075-1039-1053
2076-1071-1087
2077-1105-1121
2078-1139-1156
2079-1175-1192
2080-1211-1228
2081-1248-1266
2082-1286-1304
2083-1324-1343
2084-1363-1383
2085-1403-1423
2086-1443-1463
2087-1483-1504
2088-1524-1546
2089-1564-1587
2090-1604-1627
2091-1643-1666
2092-1681-1705
2093-1718-1742
2094-1754-1779
2095-1789-1815
2096-1825-1851
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