Proposed Provision: Increase the PIA to a level such that a worker with 30 years of earnings at the minimum wage level receives an adjusted PIA equal to 120 percent of the Federal poverty level for an aged individual. This provision takes full effect for all newly eligible OASDI workers in 2032, and is phased in for new eligibles in 2023 through 2031. The percentage increase in PIA is lowered proportionately for those with fewer than 30 years of earnings, down to no enhancement for workers with 20 or fewer years of earnings. (Year-of-work requirements are "scaled" for disabled workers based on their years of potential work from age 22 to benefit eligibility). The benefit enhancement percentage is reduced proportionately for workers with higher average indexed monthly earnings (AIME), down to no enhancement for those with AIME at least twice that of a 35-year steady minimum wage earner.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2014320320
2015306306
2016292292
2017277277
2018262262
2019248248
2020233233
2021219219
2022203203
2023187187
2024171171
2025154154
2026137137
2027119119
2028101101
20298383
20306463
20314443
20322322
203321
2034-20-21
2035-42-44
2036-65-67
2037-88-90
2038-112-114
2039-136-138
2040-160-163
2041-185-188
2042-210-213
2043-235-238
2044-260-263
2045-285-288
2046-310-314
2047-336-340
2048-362-366
2049-388-393
2050-415-420
2051-442-446
2052-468-473
2053-495-501
2054-523-528
2055-550-556
2056-578-584
2057-606-612
2058-635-641
2059-664-671
2060-694-701
2061-725-732
2062-756-763
2063-787-794
2064-819-827
2065-852-859
2066-885-892
2067-918-926
2068-952-960
2069-987-995
2070-1022-1030
2071-1057-1066
2072-1094-1103
2073-1132-1141
2074-1171-1179
2075-1210-1219
2076-1251-1260
2077-1293-1302
2078-1335-1344
2079-1378-1387
2080-1421-1430
2081-1464-1473
2082-1507-1517
2083-1550-1560
2084-1593-1603
2085-1636-1647
2086-1680-1690
2087-1724-1735
2088-1769-1779
2089-1814-1825
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