Proposed Provision: B5.5. Beginning for those newly eligible in 2025, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which either 20 percent of the "old law maximum" is earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level (about $1,556 in 2022). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,556/11 = $141.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2023 | 204 | 204 |
2024 | 187 | 187 |
2025 | 168 | 168 |
2026 | 149 | 149 |
2027 | 131 | 131 |
2028 | 114 | 114 |
2029 | 96 | 96 |
2030 | 78 | 78 |
2031 | 60 | 60 |
2032 | 43 | 43 |
2033 | 25 | 25 |
2034 | 7 | 7 |
2035 | -12 | -12 |
2036 | -31 | -31 |
2037 | -51 | -51 |
2038 | -70 | -71 |
2039 | -91 | -91 |
2040 | -112 | -112 |
2041 | -133 | -133 |
2042 | -154 | -155 |
2043 | -176 | -176 |
2044 | -198 | -198 |
2045 | -220 | -221 |
2046 | -243 | -243 |
2047 | -265 | -265 |
2048 | -288 | -288 |
2049 | -311 | -311 |
2050 | -333 | -334 |
2051 | -357 | -357 |
2052 | -380 | -380 |
2053 | -403 | -404 |
2054 | -427 | -427 |
2055 | -450 | -451 |
2056 | -474 | -474 |
2057 | -498 | -498 |
2058 | -522 | -523 |
2059 | -547 | -547 |
2060 | -572 | -572 |
2061 | -597 | -598 |
2062 | -623 | -624 |
2063 | -650 | -651 |
2064 | -677 | -678 |
2065 | -705 | -706 |
2066 | -733 | -734 |
2067 | -762 | -763 |
2068 | -791 | -792 |
2069 | -820 | -821 |
2070 | -850 | -851 |
2071 | -880 | -881 |
2072 | -911 | -912 |
2073 | -942 | -943 |
2074 | -974 | -975 |
2075 | -1006 | -1007 |
2076 | -1039 | -1041 |
2077 | -1074 | -1075 |
2078 | -1108 | -1110 |
2079 | -1144 | -1145 |
2080 | -1181 | -1182 |
2081 | -1218 | -1219 |
2082 | -1256 | -1257 |
2083 | -1294 | -1296 |
2084 | -1333 | -1335 |
2085 | -1373 | -1374 |
2086 | -1413 | -1414 |
2087 | -1453 | -1455 |
2088 | -1494 | -1495 |
2089 | -1534 | -1535 |
2090 | -1574 | -1575 |
2091 | -1613 | -1614 |
2092 | -1651 | -1653 |
2093 | -1689 | -1691 |
2094 | -1726 | -1728 |
2095 | -1762 | -1764 |
2096 | -1798 | -1800 |
2097 | -1833 | -1835 |
2098 | -1868 | -1870 |
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