Proposed Provision: B5.3. Beginning for those newly eligible in 2025, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 5, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,519 in 2023). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,519/20 = $75.95. (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 |
Current Law |
Provision |
2024 | 188 | 188 |
2025 | 171 | 171 |
2026 | 152 | 152 |
2027 | 134 | 134 |
2028 | 117 | 117 |
2029 | 101 | 100 |
2030 | 84 | 84 |
2031 | 68 | 67 |
2032 | 53 | 52 |
2033 | 37 | 36 |
2034 | 22 | 20 |
2035 | 7 | 5 |
2036 | -9 | -12 |
2037 | -26 | -29 |
2038 | -43 | -46 |
2039 | -60 | -64 |
2040 | -78 | -83 |
2041 | -96 | -102 |
2042 | -115 | -121 |
2043 | -135 | -141 |
2044 | -154 | -161 |
2045 | -174 | -182 |
2046 | -194 | -203 |
2047 | -215 | -224 |
2048 | -235 | -246 |
2049 | -256 | -267 |
2050 | -277 | -289 |
2051 | -299 | -311 |
2052 | -320 | -334 |
2053 | -342 | -356 |
2054 | -364 | -379 |
2055 | -386 | -403 |
2056 | -409 | -426 |
2057 | -431 | -450 |
2058 | -455 | -474 |
2059 | -478 | -499 |
2060 | -502 | -524 |
2061 | -527 | -550 |
2062 | -553 | -577 |
2063 | -579 | -604 |
2064 | -605 | -632 |
2065 | -632 | -660 |
2066 | -660 | -689 |
2067 | -688 | -718 |
2068 | -716 | -747 |
2069 | -745 | -777 |
2070 | -774 | -808 |
2071 | -803 | -839 |
2072 | -834 | -870 |
2073 | -864 | -902 |
2074 | -895 | -935 |
2075 | -927 | -968 |
2076 | -960 | -1002 |
2077 | -993 | -1036 |
2078 | -1027 | -1072 |
2079 | -1062 | -1109 |
2080 | -1098 | -1146 |
2081 | -1134 | -1184 |
2082 | -1172 | -1223 |
2083 | -1209 | -1262 |
2084 | -1248 | -1302 |
2085 | -1287 | -1343 |
2086 | -1327 | -1385 |
2087 | -1368 | -1427 |
2088 | -1409 | -1470 |
2089 | -1450 | -1513 |
2090 | -1491 | -1556 |
2091 | -1532 | -1599 |
2092 | -1573 | -1641 |
2093 | -1612 | -1682 |
2094 | -1651 | -1723 |
2095 | -1689 | -1763 |
2096 | -1727 | -1802 |
2097 | -1764 | -1841 |
2098 | -1801 | -1880 |
2099 | -1838 | -1918 |
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