Proposed Provision: Beginning for those newly eligible for OASDI benefits in 2015, increase the special minimum benefit to 100 percent of poverty by making the following changes: (a) The number of years of work (YOW) is determined as total quarters of coverage divided by 4, ignoring any fraction. Up to 5 additional years with a child under in 6 may be counted as YOWs. (b) Set the PIA for 30 or more YOWs equal to 100 percent of the monthly HHS poverty level for the year prior to eligibility. For workers between 11 and 29 YOWs, reduce the special minimum by 3 1/3 percentage point per YOW so that at 29 YOCs the minimum would be 96 2/3% of poverty,..., down to 11 YOWs at 36 2/3% of poverty. No minimum for 10 or fewer YOCs.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Present Law |
Provision |
2012 | 340 | 340 |
2013 | 329 | 329 |
2014 | 315 | 315 |
2015 | 302 | 302 |
2016 | 290 | 289 |
2017 | 277 | 277 |
2018 | 265 | 265 |
2019 | 253 | 253 |
2020 | 240 | 240 |
2021 | 227 | 226 |
2022 | 212 | 212 |
2023 | 197 | 196 |
2024 | 181 | 180 |
2025 | 164 | 163 |
2026 | 147 | 146 |
2027 | 129 | 128 |
2028 | 110 | 109 |
2029 | 90 | 89 |
2030 | 70 | 68 |
2031 | 49 | 47 |
2032 | 27 | 25 |
2033 | 5 | 3 |
2034 | -18 | -20 |
2035 | -41 | -44 |
2036 | -65 | -68 |
2037 | -89 | -92 |
2038 | -114 | -116 |
2039 | -138 | -141 |
2040 | -163 | -167 |
2041 | -189 | -192 |
2042 | -215 | -218 |
2043 | -240 | -244 |
2044 | -266 | -270 |
2045 | -292 | -297 |
2046 | -319 | -323 |
2047 | -346 | -350 |
2048 | -373 | -378 |
2049 | -400 | -405 |
2050 | -428 | -433 |
2051 | -456 | -461 |
2052 | -484 | -489 |
2053 | -512 | -518 |
2054 | -540 | -546 |
2055 | -569 | -575 |
2056 | -598 | -605 |
2057 | -628 | -634 |
2058 | -657 | -665 |
2059 | -688 | -695 |
2060 | -719 | -726 |
2061 | -750 | -758 |
2062 | -782 | -790 |
2063 | -814 | -823 |
2064 | -847 | -855 |
2065 | -880 | -888 |
2066 | -913 | -922 |
2067 | -946 | -955 |
2068 | -980 | -989 |
2069 | -1014 | -1024 |
2070 | -1049 | -1058 |
2071 | -1084 | -1094 |
2072 | -1120 | -1130 |
2073 | -1156 | -1166 |
2074 | -1193 | -1203 |
2075 | -1230 | -1241 |
2076 | -1268 | -1279 |
2077 | -1307 | -1318 |
2078 | -1346 | -1357 |
2079 | -1385 | -1396 |
2080 | -1425 | -1436 |
2081 | -1465 | -1477 |
2082 | -1505 | -1517 |
2083 | -1547 | -1559 |
2084 | -1588 | -1601 |
2085 | -1631 | -1643 |
2086 | -1673 | -1686 |
2087 | -1717 | -1730 |
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