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 2025 through 2034. 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 our records.
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 | 206 |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 154 | 154 |
| 2027 | 137 | 137 |
| 2028 | 120 | 120 |
| 2029 | 104 | 104 |
| 2030 | 86 | 86 |
| 2031 | 69 | 69 |
| 2032 | 51 | 51 |
| 2033 | 33 | 33 |
| 2034 | 14 | 14 |
| 2035 | -5 | -5 |
| 2036 | -25 | -25 |
| 2037 | -46 | -45 |
| 2038 | -67 | -66 |
| 2039 | -88 | -88 |
| 2040 | -110 | -109 |
| 2041 | -132 | -131 |
| 2042 | -154 | -153 |
| 2043 | -176 | -176 |
| 2044 | -199 | -198 |
| 2045 | -221 | -220 |
| 2046 | -244 | -243 |
| 2047 | -267 | -265 |
| 2048 | -289 | -288 |
| 2049 | -312 | -310 |
| 2050 | -335 | -333 |
| 2051 | -358 | -355 |
| 2052 | -381 | -378 |
| 2053 | -403 | -400 |
| 2054 | -426 | -423 |
| 2055 | -450 | -446 |
| 2056 | -473 | -469 |
| 2057 | -496 | -492 |
| 2058 | -520 | -515 |
| 2059 | -544 | -539 |
| 2060 | -569 | -563 |
| 2061 | -594 | -588 |
| 2062 | -619 | -613 |
| 2063 | -645 | -638 |
| 2064 | -671 | -664 |
| 2065 | -698 | -691 |
| 2066 | -725 | -717 |
| 2067 | -752 | -744 |
| 2068 | -780 | -772 |
| 2069 | -808 | -800 |
| 2070 | -837 | -828 |
| 2071 | -866 | -857 |
| 2072 | -896 | -886 |
| 2073 | -927 | -916 |
| 2074 | -958 | -947 |
| 2075 | -990 | -979 |
| 2076 | -1023 | -1011 |
| 2077 | -1057 | -1045 |
| 2078 | -1092 | -1079 |
| 2079 | -1128 | -1115 |
| 2080 | -1165 | -1151 |
| 2081 | -1202 | -1187 |
| 2082 | -1240 | -1224 |
| 2083 | -1278 | -1262 |
| 2084 | -1316 | -1300 |
| 2085 | -1354 | -1337 |
| 2086 | -1392 | -1375 |
| 2087 | -1430 | -1412 |
| 2088 | -1468 | -1449 |
| 2089 | -1505 | -1486 |
| 2090 | -1543 | -1523 |
| 2091 | -1580 | -1560 |
| 2092 | -1618 | -1597 |
| 2093 | -1655 | -1634 |
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