Proposed Provision: Beginning for those newly eligible in 2016, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which either 20 percent of the "old law maximum" is earned or a child is in care. Childcare years are granted to parents who have a child under 6, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 133 percent of the Census monthly poverty level (about $1,238 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,238/11 = $112.60. (c) Index the initial 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 |
Present Law |
Provision |
2014 | 320 | 320 |
2015 | 306 | 306 |
2016 | 292 | 292 |
2017 | 277 | 277 |
2018 | 262 | 262 |
2019 | 248 | 247 |
2020 | 233 | 233 |
2021 | 219 | 218 |
2022 | 203 | 202 |
2023 | 187 | 186 |
2024 | 171 | 170 |
2025 | 154 | 153 |
2026 | 137 | 135 |
2027 | 119 | 117 |
2028 | 101 | 99 |
2029 | 83 | 80 |
2030 | 64 | 61 |
2031 | 44 | 40 |
2032 | 23 | 19 |
2033 | 2 | -2 |
2034 | -20 | -24 |
2035 | -42 | -47 |
2036 | -65 | -70 |
2037 | -88 | -94 |
2038 | -112 | -118 |
2039 | -136 | -142 |
2040 | -160 | -167 |
2041 | -185 | -192 |
2042 | -210 | -217 |
2043 | -235 | -243 |
2044 | -260 | -268 |
2045 | -285 | -294 |
2046 | -310 | -320 |
2047 | -336 | -346 |
2048 | -362 | -373 |
2049 | -388 | -400 |
2050 | -415 | -427 |
2051 | -442 | -454 |
2052 | -468 | -482 |
2053 | -495 | -509 |
2054 | -523 | -537 |
2055 | -550 | -565 |
2056 | -578 | -594 |
2057 | -606 | -623 |
2058 | -635 | -652 |
2059 | -664 | -682 |
2060 | -694 | -713 |
2061 | -725 | -744 |
2062 | -756 | -776 |
2063 | -787 | -808 |
2064 | -819 | -840 |
2065 | -852 | -874 |
2066 | -885 | -907 |
2067 | -918 | -942 |
2068 | -952 | -976 |
2069 | -987 | -1012 |
2070 | -1022 | -1047 |
2071 | -1057 | -1084 |
2072 | -1094 | -1122 |
2073 | -1132 | -1160 |
2074 | -1171 | -1200 |
2075 | -1210 | -1240 |
2076 | -1251 | -1282 |
2077 | -1293 | -1324 |
2078 | -1335 | -1368 |
2079 | -1378 | -1411 |
2080 | -1421 | -1455 |
2081 | -1464 | -1499 |
2082 | -1507 | -1543 |
2083 | -1550 | -1587 |
2084 | -1593 | -1631 |
2085 | -1636 | -1676 |
2086 | -1680 | -1720 |
2087 | -1724 | -1765 |
2088 | -1769 | -1811 |
2089 | -1814 | -1857 |
back