Proposed Provision: B5.3. Beginning for those newly eligible in 2024, 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 5, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,416 in 2022). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,416/20 = $70.80. (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
2023204204
2024187187
2025168168
2026149149
2027131131
2028114113
20299695
20307877
20316059
20324341
20332523
203474
2035-12-15
2036-31-35
2037-51-55
2038-70-75
2039-91-96
2040-112-118
2041-133-140
2042-154-162
2043-176-185
2044-198-208
2045-220-231
2046-243-254
2047-265-277
2048-288-301
2049-311-325
2050-333-349
2051-357-373
2052-380-397
2053-403-422
2054-427-446
2055-450-471
2056-474-496
2057-498-521
2058-522-546
2059-547-572
2060-572-599
2061-597-626
2062-623-653
2063-650-681
2064-677-710
2065-705-739
2066-733-769
2067-762-799
2068-791-829
2069-820-860
2070-850-891
2071-880-923
2072-911-955
2073-942-988
2074-974-1021
2075-1006-1055
2076-1039-1090
2077-1074-1126
2078-1108-1163
2079-1144-1200
2080-1181-1239
2081-1218-1278
2082-1256-1318
2083-1294-1358
2084-1333-1399
2085-1373-1440
2086-1413-1482
2087-1453-1525
2088-1494-1567
2089-1534-1610
2090-1574-1651
2091-1613-1693
2092-1651-1733
2093-1689-1773
2094-1726-1812
2095-1762-1851
2096-1798-1888
2097-1833-1926
2098-1868-1962
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