Proposed Provision: B5.5. Beginning for those newly eligible in 2020, 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 $1,303 in 2017). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,303/11 = $118.50. (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 |
Current Law |
Provision |
2018 | 288 | 288 |
2019 | 272 | 272 |
2020 | 256 | 256 |
2021 | 239 | 239 |
2022 | 223 | 223 |
2023 | 206 | 205 |
2024 | 188 | 188 |
2025 | 171 | 171 |
2026 | 154 | 153 |
2027 | 137 | 137 |
2028 | 120 | 120 |
2029 | 104 | 103 |
2030 | 86 | 85 |
2031 | 69 | 68 |
2032 | 51 | 50 |
2033 | 33 | 31 |
2034 | 14 | 12 |
2035 | -5 | -7 |
2036 | -25 | -27 |
2037 | -46 | -48 |
2038 | -67 | -69 |
2039 | -88 | -91 |
2040 | -110 | -113 |
2041 | -132 | -135 |
2042 | -154 | -157 |
2043 | -176 | -180 |
2044 | -199 | -203 |
2045 | -221 | -226 |
2046 | -244 | -249 |
2047 | -267 | -272 |
2048 | -289 | -295 |
2049 | -312 | -318 |
2050 | -335 | -341 |
2051 | -358 | -364 |
2052 | -381 | -387 |
2053 | -403 | -410 |
2054 | -426 | -434 |
2055 | -450 | -457 |
2056 | -473 | -481 |
2057 | -496 | -505 |
2058 | -520 | -529 |
2059 | -544 | -553 |
2060 | -569 | -578 |
2061 | -594 | -604 |
2062 | -619 | -629 |
2063 | -645 | -656 |
2064 | -671 | -682 |
2065 | -698 | -709 |
2066 | -725 | -737 |
2067 | -752 | -765 |
2068 | -780 | -793 |
2069 | -808 | -822 |
2070 | -837 | -851 |
2071 | -866 | -880 |
2072 | -896 | -911 |
2073 | -927 | -942 |
2074 | -958 | -974 |
2075 | -990 | -1006 |
2076 | -1023 | -1040 |
2077 | -1057 | -1074 |
2078 | -1092 | -1110 |
2079 | -1128 | -1146 |
2080 | -1165 | -1183 |
2081 | -1202 | -1221 |
2082 | -1240 | -1259 |
2083 | -1278 | -1298 |
2084 | -1316 | -1336 |
2085 | -1354 | -1375 |
2086 | -1392 | -1414 |
2087 | -1430 | -1452 |
2088 | -1468 | -1491 |
2089 | -1505 | -1529 |
2090 | -1543 | -1567 |
2091 | -1580 | -1605 |
2092 | -1618 | -1643 |
2093 | -1655 | -1681 |
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