Proposed Provision: B6.7. Starting in January 2023, 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 $25,000 if single and $50,000 if married. MAGI is set to equal the IRMAA definition (AGI plus tax-exempt interest income). Index these thresholds after 2023 by the increase in the C-CPI-U; (2) The full additional amount is applicable for those born 1957 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 1957, 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 Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200199
2024183182
2025165165
2026149148
2027132131
2028115114
20299897
20308180
20316462
20324644
20332725
203486
2035-11-13
2036-30-33
2037-50-53
2038-71-74
2039-91-95
2040-112-116
2041-133-138
2042-154-159
2043-176-181
2044-197-203
2045-218-225
2046-240-247
2047-262-269
2048-283-291
2049-305-314
2050-327-336
2051-349-359
2052-371-381
2053-393-404
2054-415-426
2055-437-449
2056-460-472
2057-482-496
2058-506-519
2059-529-544
2060-553-568
2061-578-593
2062-603-619
2063-628-645
2064-654-671
2065-680-698
2066-706-725
2067-733-752
2068-760-780
2069-788-808
2070-816-837
2071-845-866
2072-874-896
2073-905-927
2074-935-958
2075-967-990
2076-1000-1024
2077-1033-1058
2078-1068-1093
2079-1102-1128
2080-1138-1164
2081-1173-1200
2082-1208-1236
2083-1243-1272
2084-1279-1308
2085-1314-1344
2086-1349-1379
2087-1384-1415
2088-1419-1451
2089-1455-1488
2090-1491-1524
2091-1528-1562
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