Proposed Provision: B7.3. Give credit to parents with a child under 6 for earnings for up to five years. The earnings credited for a childcare year equal one half of the SSA average wage index (about $31,292 in 2022). The credits are available for all past years to newly eligible retired-worker and disabled-worker beneficiaries starting in 2023. The 5 years are chosen to yield the largest increase in AIME.
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 | 107 |
2030 | 91 | 90 |
2031 | 74 | 72 |
2032 | 57 | 54 |
2033 | 39 | 36 |
2034 | 21 | 18 |
2035 | 3 | -1 |
2036 | -16 | -21 |
2037 | -35 | -40 |
2038 | -54 | -61 |
2039 | -74 | -82 |
2040 | -95 | -103 |
2041 | -116 | -125 |
2042 | -137 | -147 |
2043 | -158 | -169 |
2044 | -180 | -191 |
2045 | -202 | -214 |
2046 | -224 | -237 |
2047 | -246 | -260 |
2048 | -268 | -284 |
2049 | -291 | -308 |
2050 | -313 | -331 |
2051 | -336 | -355 |
2052 | -359 | -380 |
2053 | -383 | -404 |
2054 | -406 | -429 |
2055 | -430 | -453 |
2056 | -453 | -478 |
2057 | -477 | -503 |
2058 | -501 | -529 |
2059 | -525 | -554 |
2060 | -550 | -580 |
2061 | -575 | -607 |
2062 | -601 | -634 |
2063 | -627 | -661 |
2064 | -654 | -689 |
2065 | -681 | -718 |
2066 | -708 | -747 |
2067 | -736 | -776 |
2068 | -764 | -805 |
2069 | -792 | -835 |
2070 | -821 | -865 |
2071 | -850 | -896 |
2072 | -880 | -927 |
2073 | -910 | -958 |
2074 | -940 | -990 |
2075 | -971 | -1023 |
2076 | -1003 | -1056 |
2077 | -1036 | -1090 |
2078 | -1069 | -1126 |
2079 | -1104 | -1162 |
2080 | -1139 | -1199 |
2081 | -1175 | -1236 |
2082 | -1212 | -1275 |
2083 | -1249 | -1313 |
2084 | -1286 | -1353 |
2085 | -1324 | -1393 |
2086 | -1363 | -1434 |
2087 | -1402 | -1475 |
2088 | -1442 | -1516 |
2089 | -1481 | -1557 |
2090 | -1520 | -1598 |
2091 | -1558 | -1638 |
2092 | -1595 | -1677 |
2093 | -1632 | -1716 |
2094 | -1668 | -1754 |
2095 | -1703 | -1791 |
2096 | -1738 | -1828 |
2097 | -1773 | -1864 |
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