Proposed Provision: Beginning for those newly eligible in 2015, 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 $1,197 in 2013). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,197/20 = $59.85. (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 |
Present Law |
Provision |
2014 | 320 | 320 |
2015 | 306 | 306 |
2016 | 292 | 292 |
2017 | 277 | 276 |
2018 | 262 | 261 |
2019 | 248 | 246 |
2020 | 233 | 231 |
2021 | 219 | 216 |
2022 | 203 | 200 |
2023 | 187 | 183 |
2024 | 171 | 166 |
2025 | 154 | 148 |
2026 | 137 | 130 |
2027 | 119 | 112 |
2028 | 101 | 93 |
2029 | 83 | 74 |
2030 | 64 | 53 |
2031 | 44 | 32 |
2032 | 23 | 11 |
2033 | 2 | -12 |
2034 | -20 | -35 |
2035 | -42 | -58 |
2036 | -65 | -82 |
2037 | -88 | -107 |
2038 | -112 | -131 |
2039 | -136 | -157 |
2040 | -160 | -183 |
2041 | -185 | -209 |
2042 | -210 | -235 |
2043 | -235 | -261 |
2044 | -260 | -288 |
2045 | -285 | -315 |
2046 | -310 | -342 |
2047 | -336 | -369 |
2048 | -362 | -397 |
2049 | -388 | -425 |
2050 | -415 | -454 |
2051 | -442 | -482 |
2052 | -468 | -511 |
2053 | -495 | -540 |
2054 | -523 | -569 |
2055 | -550 | -598 |
2056 | -578 | -628 |
2057 | -606 | -659 |
2058 | -635 | -689 |
2059 | -664 | -721 |
2060 | -694 | -753 |
2061 | -725 | -785 |
2062 | -756 | -818 |
2063 | -787 | -852 |
2064 | -819 | -886 |
2065 | -852 | -921 |
2066 | -885 | -956 |
2067 | -918 | -992 |
2068 | -952 | -1028 |
2069 | -987 | -1065 |
2070 | -1022 | -1103 |
2071 | -1057 | -1141 |
2072 | -1094 | -1180 |
2073 | -1132 | -1221 |
2074 | -1171 | -1262 |
2075 | -1210 | -1304 |
2076 | -1251 | -1348 |
2077 | -1293 | -1392 |
2078 | -1335 | -1437 |
2079 | -1378 | -1483 |
2080 | -1421 | -1529 |
2081 | -1464 | -1574 |
2082 | -1507 | -1620 |
2083 | -1550 | -1666 |
2084 | -1593 | -1712 |
2085 | -1636 | -1758 |
2086 | -1680 | -1805 |
2087 | -1724 | -1852 |
2088 | -1769 | -1899 |
2089 | -1814 | -1947 |
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