Proposed Provision: B7.10. Replace the current-law WEP with a new calculation for most OASI and DI benefits based on covered and non-covered earnings, phased in for beneficiaries becoming newly eligible in 2030 through 2039. For this new approach, compute a PIA based on all past earnings (covered and non-covered), and multiply by the "non-covered earnings ratio." This ratio is equal to the current-law concept of the average indexed monthly earnings computed without non-covered earnings divided by a modified average indexed monthly earnings that includes both covered and non-covered earnings in agency records.
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 | -50 |
2038 | -70 | -70 |
2039 | -91 | -91 |
2040 | -112 | -112 |
2041 | -133 | -133 |
2042 | -154 | -154 |
2043 | -176 | -176 |
2044 | -198 | -198 |
2045 | -220 | -220 |
2046 | -243 | -242 |
2047 | -265 | -265 |
2048 | -288 | -287 |
2049 | -311 | -310 |
2050 | -333 | -333 |
2051 | -357 | -356 |
2052 | -380 | -379 |
2053 | -403 | -402 |
2054 | -427 | -425 |
2055 | -450 | -449 |
2056 | -474 | -472 |
2057 | -498 | -496 |
2058 | -522 | -520 |
2059 | -547 | -544 |
2060 | -572 | -569 |
2061 | -597 | -594 |
2062 | -623 | -620 |
2063 | -650 | -647 |
2064 | -677 | -674 |
2065 | -705 | -701 |
2066 | -733 | -729 |
2067 | -762 | -757 |
2068 | -791 | -786 |
2069 | -820 | -815 |
2070 | -850 | -845 |
2071 | -880 | -874 |
2072 | -911 | -905 |
2073 | -942 | -936 |
2074 | -974 | -967 |
2075 | -1006 | -999 |
2076 | -1039 | -1032 |
2077 | -1074 | -1065 |
2078 | -1108 | -1100 |
2079 | -1144 | -1135 |
2080 | -1181 | -1172 |
2081 | -1218 | -1209 |
2082 | -1256 | -1246 |
2083 | -1294 | -1284 |
2084 | -1333 | -1323 |
2085 | -1373 | -1362 |
2086 | -1413 | -1401 |
2087 | -1453 | -1441 |
2088 | -1494 | -1481 |
2089 | -1534 | -1521 |
2090 | -1574 | -1560 |
2091 | -1613 | -1599 |
2092 | -1651 | -1637 |
2093 | -1689 | -1674 |
2094 | -1726 | -1711 |
2095 | -1762 | -1747 |
2096 | -1798 | -1782 |
2097 | -1833 | -1817 |
2098 | -1868 | -1851 |
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