Proposed Provision: B6.7. Starting in January 2030, provide an addition to monthly benefits for all beneficiaries who have been eligible for at least 20 years, with the following specifications: (1) Augment benefits (not the PIA) for those of qualifying age and eligibility duration with a MAGI below about $29,400 if single and $58,800 if married. MAGI is set to equal the IRMAA definition (AGI plus tax-exempt interest income). Index these thresholds after 2030 by the increase in the C-CPI-U; (2) The full additional amount is applicable for those born 1963 and later, once 24 years elapse from initial eligibility. The basic additional amount is calculated as 5 percent of the PIA for a hypothetical worker with earnings equal to the AWI each year; (3) For those born prior to 1963, the full additional amount is multiplied by the number of years they have been affected by the C-CPI-U, divided by 24; (4) Beneficiaries will receive 20 percent of their additional amount in their 20th year after initial eligibility, 40 percent in their 21st year after initial eligibility,..., and 100 percent of their additional amount in their 24th and later years after benefit eligibility; (5) Retired and disabled worker beneficiaries, dually entitled spouse beneficiaries, and all survivor beneficiaries received their addition as described above. Spousal beneficiaries (aged or with child in care) and child beneficiaries of a living retired or disabled worker receive 50 percent of the additional amount described above. Other beneficiary types (such as parents of deceased workers) will receive the percentage of the flat benefit that equals the percentage of the insured worker's PIA that they receive; (6) The AWI used is for the second year prior to the beneficiary's initial eligibility year, with applicable COLAs applied up to the age when the addition is received; and (7) The additional amount is added to the monthly benefit after reductions for early claiming or increases for delayed claiming have been applied.

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
2037-51-51
2038-70-71
2039-91-92
2040-112-113
2041-133-134
2042-154-156
2043-176-178
2044-198-200
2045-220-222
2046-243-245
2047-265-268
2048-288-291
2049-311-314
2050-333-337
2051-357-360
2052-380-384
2053-403-408
2054-427-432
2055-450-456
2056-474-480
2057-498-504
2058-522-529
2059-547-554
2060-572-579
2061-597-605
2062-623-632
2063-650-659
2064-677-687
2065-705-715
2066-733-743
2067-762-772
2068-791-802
2069-820-832
2070-850-862
2071-880-893
2072-911-924
2073-942-955
2074-974-987
2075-1006-1020
2076-1039-1054
2077-1074-1088
2078-1108-1124
2079-1144-1160
2080-1181-1197
2081-1218-1235
2082-1256-1273
2083-1294-1312
2084-1333-1352
2085-1373-1392
2086-1413-1432
2087-1453-1473
2088-1494-1514
2089-1534-1555
2090-1574-1595
2091-1613-1635
2092-1651-1674
2093-1689-1712
2094-1726-1750
2095-1762-1787
2096-1798-1823
2097-1833-1859
2098-1868-1895
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