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
2023204204
2024187187
2025168168
2026149149
2027131131
2028114114
20299696
20307878
20316060
20324343
20332525
203477
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
back