Proposed Provision: Beginning for those newly eligible in 2015, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,197 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,197/20 = $59.85. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2014 | 320 | 320 |
2015 | 306 | 306 |
2016 | 292 | 292 |
2017 | 277 | 277 |
2018 | 262 | 262 |
2019 | 248 | 247 |
2020 | 233 | 232 |
2021 | 219 | 217 |
2022 | 203 | 201 |
2023 | 187 | 185 |
2024 | 171 | 168 |
2025 | 154 | 151 |
2026 | 137 | 133 |
2027 | 119 | 115 |
2028 | 101 | 96 |
2029 | 83 | 77 |
2030 | 64 | 57 |
2031 | 44 | 36 |
2032 | 23 | 15 |
2033 | 2 | -7 |
2034 | -20 | -30 |
2035 | -42 | -53 |
2036 | -65 | -76 |
2037 | -88 | -100 |
2038 | -112 | -125 |
2039 | -136 | -150 |
2040 | -160 | -175 |
2041 | -185 | -201 |
2042 | -210 | -227 |
2043 | -235 | -253 |
2044 | -260 | -279 |
2045 | -285 | -305 |
2046 | -310 | -332 |
2047 | -336 | -359 |
2048 | -362 | -386 |
2049 | -388 | -414 |
2050 | -415 | -442 |
2051 | -442 | -470 |
2052 | -468 | -498 |
2053 | -495 | -526 |
2054 | -523 | -555 |
2055 | -550 | -584 |
2056 | -578 | -613 |
2057 | -606 | -643 |
2058 | -635 | -673 |
2059 | -664 | -704 |
2060 | -694 | -736 |
2061 | -725 | -768 |
2062 | -756 | -800 |
2063 | -787 | -833 |
2064 | -819 | -867 |
2065 | -852 | -901 |
2066 | -885 | -936 |
2067 | -918 | -971 |
2068 | -952 | -1006 |
2069 | -987 | -1043 |
2070 | -1022 | -1079 |
2071 | -1057 | -1117 |
2072 | -1094 | -1156 |
2073 | -1132 | -1195 |
2074 | -1171 | -1236 |
2075 | -1210 | -1278 |
2076 | -1251 | -1320 |
2077 | -1293 | -1364 |
2078 | -1335 | -1408 |
2079 | -1378 | -1453 |
2080 | -1421 | -1498 |
2081 | -1464 | -1543 |
2082 | -1507 | -1589 |
2083 | -1550 | -1634 |
2084 | -1593 | -1679 |
2085 | -1636 | -1725 |
2086 | -1680 | -1770 |
2087 | -1724 | -1816 |
2088 | -1769 | -1863 |
2089 | -1814 | -1911 |
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