Proposed Provision: B6.7. Starting in January 2025, 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 $26,150 if single and $52,300 if married. MAGI is set to equal the IRMAA definition (AGI plus tax-exempt interest income). Index these thresholds after 2025 by the increase in the C-CPI-U; (2) The full additional amount is applicable for those born 1959 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 1959, 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
2018288288
2019272272
2020256256
2021239239
2022223223
2023206206
2024188188
2025171171
2026154154
2027137137
2028120120
2029104103
20308686
20316968
20325151
20333332
20341413
2035-5-6
2036-25-27
2037-46-47
2038-67-68
2039-88-90
2040-110-112
2041-132-134
2042-154-157
2043-176-180
2044-199-202
2045-221-225
2046-244-248
2047-267-271
2048-289-294
2049-312-318
2050-335-341
2051-358-364
2052-381-388
2053-403-411
2054-426-435
2055-450-458
2056-473-482
2057-496-506
2058-520-530
2059-544-555
2060-569-580
2061-594-606
2062-619-632
2063-645-658
2064-671-685
2065-698-712
2066-725-740
2067-752-768
2068-780-796
2069-808-825
2070-837-854
2071-866-884
2072-896-914
2073-927-945
2074-958-977
2075-990-1009
2076-1023-1043
2077-1057-1078
2078-1092-1113
2079-1128-1150
2080-1165-1187
2081-1202-1225
2082-1240-1263
2083-1278-1302
2084-1316-1341
2085-1354-1380
2086-1392-1419
2087-1430-1457
2088-1468-1496
2089-1505-1534
2090-1543-1572
2091-1580-1610
2092-1618-1648
2093-1655-1686
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