Proposed Provision: B5.2. Beginning for those newly eligible in 2023, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,342 in 2021). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,342/20 = $67.10. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2022 | 230 | 230 |
2023 | 211 | 211 |
2024 | 194 | 194 |
2025 | 177 | 177 |
2026 | 160 | 159 |
2027 | 143 | 142 |
2028 | 126 | 125 |
2029 | 109 | 108 |
2030 | 91 | 91 |
2031 | 74 | 73 |
2032 | 57 | 55 |
2033 | 39 | 38 |
2034 | 21 | 19 |
2035 | 3 | 1 |
2036 | -16 | -18 |
2037 | -35 | -38 |
2038 | -54 | -58 |
2039 | -74 | -79 |
2040 | -95 | -100 |
2041 | -116 | -121 |
2042 | -137 | -142 |
2043 | -158 | -164 |
2044 | -180 | -187 |
2045 | -202 | -209 |
2046 | -224 | -232 |
2047 | -246 | -255 |
2048 | -268 | -278 |
2049 | -291 | -301 |
2050 | -313 | -324 |
2051 | -336 | -348 |
2052 | -359 | -372 |
2053 | -383 | -396 |
2054 | -406 | -420 |
2055 | -430 | -444 |
2056 | -453 | -469 |
2057 | -477 | -493 |
2058 | -501 | -518 |
2059 | -525 | -543 |
2060 | -550 | -569 |
2061 | -575 | -595 |
2062 | -601 | -622 |
2063 | -627 | -649 |
2064 | -654 | -677 |
2065 | -681 | -705 |
2066 | -708 | -733 |
2067 | -736 | -762 |
2068 | -764 | -791 |
2069 | -792 | -821 |
2070 | -821 | -850 |
2071 | -850 | -881 |
2072 | -880 | -912 |
2073 | -910 | -943 |
2074 | -940 | -974 |
2075 | -971 | -1006 |
2076 | -1003 | -1039 |
2077 | -1036 | -1073 |
2078 | -1069 | -1108 |
2079 | -1104 | -1144 |
2080 | -1139 | -1180 |
2081 | -1175 | -1218 |
2082 | -1212 | -1256 |
2083 | -1249 | -1294 |
2084 | -1286 | -1333 |
2085 | -1324 | -1373 |
2086 | -1363 | -1413 |
2087 | -1402 | -1454 |
2088 | -1442 | -1495 |
2089 | -1481 | -1535 |
2090 | -1520 | -1576 |
2091 | -1558 | -1615 |
2092 | -1595 | -1654 |
2093 | -1632 | -1692 |
2094 | -1668 | -1730 |
2095 | -1703 | -1767 |
2096 | -1738 | -1803 |
2097 | -1773 | -1839 |
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