Proposed Provision: B5.6. 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 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 100 percent of the monthly poverty level (about $1,215 in 2023). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,215/20 = $60.75. (c) From 2023 to the year of implementation, 2024, index the PIA per year of coverage using the CPI index. Then, for later years, index the 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
2023204204
2024187187
2025168168
2026149149
2027131131
2028114113
20299696
20307878
20316060
20324342
20332524
203476
2035-12-13
2036-31-33
2037-51-52
2038-70-72
2039-91-93
2040-112-114
2041-133-136
2042-154-158
2043-176-180
2044-198-202
2045-220-224
2046-243-247
2047-265-270
2048-288-293
2049-311-316
2050-333-339
2051-357-363
2052-380-387
2053-403-410
2054-427-434
2055-450-458
2056-474-482
2057-498-507
2058-522-531
2059-547-556
2060-572-582
2061-597-608
2062-623-635
2063-650-662
2064-677-690
2065-705-718
2066-733-747
2067-762-776
2068-791-806
2069-820-835
2070-850-866
2071-880-897
2072-911-928
2073-942-960
2074-974-992
2075-1006-1025
2076-1039-1059
2077-1074-1093
2078-1108-1129
2079-1144-1165
2080-1181-1203
2081-1218-1241
2082-1256-1279
2083-1294-1318
2084-1333-1358
2085-1373-1398
2086-1413-1439
2087-1453-1480
2088-1494-1521
2089-1534-1562
2090-1574-1603
2091-1613-1643
2092-1651-1682
2093-1689-1721
2094-1726-1758
2095-1762-1796
2096-1798-1832
2097-1833-1868
2098-1868-1904
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