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 2028 through 2037. 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 |
| 2021 | 253 | 253 |
| 2022 | 231 | 231 |
| 2023 | 214 | 214 |
| 2024 | 196 | 196 |
| 2025 | 178 | 178 |
| 2026 | 159 | 159 |
| 2027 | 141 | 141 |
| 2028 | 122 | 122 |
| 2029 | 104 | 104 |
| 2030 | 85 | 85 |
| 2031 | 66 | 66 |
| 2032 | 46 | 46 |
| 2033 | 27 | 27 |
| 2034 | 7 | 7 |
| 2035 | -13 | -13 |
| 2036 | -33 | -33 |
| 2037 | -54 | -54 |
| 2038 | -76 | -75 |
| 2039 | -97 | -97 |
| 2040 | -119 | -119 |
| 2041 | -142 | -141 |
| 2042 | -165 | -164 |
| 2043 | -188 | -187 |
| 2044 | -211 | -211 |
| 2045 | -235 | -234 |
| 2046 | -258 | -257 |
| 2047 | -282 | -281 |
| 2048 | -306 | -305 |
| 2049 | -330 | -329 |
| 2050 | -354 | -353 |
| 2051 | -378 | -377 |
| 2052 | -403 | -401 |
| 2053 | -427 | -426 |
| 2054 | -452 | -450 |
| 2055 | -477 | -475 |
| 2056 | -502 | -500 |
| 2057 | -527 | -524 |
| 2058 | -552 | -549 |
| 2059 | -578 | -575 |
| 2060 | -604 | -600 |
| 2061 | -630 | -626 |
| 2062 | -657 | -653 |
| 2063 | -684 | -680 |
| 2064 | -712 | -707 |
| 2065 | -740 | -735 |
| 2066 | -768 | -763 |
| 2067 | -796 | -791 |
| 2068 | -825 | -819 |
| 2069 | -855 | -848 |
| 2070 | -884 | -878 |
| 2071 | -914 | -907 |
| 2072 | -945 | -937 |
| 2073 | -976 | -968 |
| 2074 | -1007 | -999 |
| 2075 | -1039 | -1030 |
| 2076 | -1071 | -1062 |
| 2077 | -1105 | -1096 |
| 2078 | -1139 | -1130 |
| 2079 | -1175 | -1165 |
| 2080 | -1211 | -1201 |
| 2081 | -1248 | -1237 |
| 2082 | -1286 | -1274 |
| 2083 | -1324 | -1312 |
| 2084 | -1363 | -1351 |
| 2085 | -1403 | -1390 |
| 2086 | -1443 | -1429 |
| 2087 | -1483 | -1469 |
| 2088 | -1524 | -1510 |
| 2089 | -1564 | -1550 |
| 2090 | -1604 | -1589 |
| 2091 | -1643 | -1627 |
| 2092 | -1681 | -1665 |
| 2093 | -1718 | -1701 |
| 2094 | -1754 | -1737 |
| 2095 | -1789 | -1772 |
| 2096 | -1825 | -1807 |
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