Proposed Provision: Beginning in 2020, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,164 in 2012). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,164/20 = $58.20. (c) From 2012 to the year of implementation, 2020, index the PIA per year of coverage using the chain-CPI index. Then, for later years, index the PIA per year of coverage by wage growth for successive cohorts. (d) Scale work requirements for disabled workers, based on the number of years of non-disabled potential work.

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

Year Present Law Provision
2013330330
2014315315
2015301301
2016286286
2017271271
2018257257
2019244244
2020231231
2021218218
2022204203
2023189188
2024173173
2025158157
2026142140
2027125123
2028108106
20299088
20307168
20315249
20323128
2033117
2034-11-15
2035-32-37
2036-55-60
2037-78-84
2038-101-107
2039-124-131
2040-148-156
2041-172-180
2042-196-205
2043-220-230
2044-245-256
2045-269-281
2046-294-307
2047-319-333
2048-345-359
2049-371-386
2050-397-413
2051-423-440
2052-449-467
2053-476-494
2054-502-522
2055-530-550
2056-557-579
2057-585-608
2058-613-637
2059-642-667
2060-671-698
2061-701-729
2062-732-760
2063-763-793
2064-794-825
2065-826-858
2066-859-892
2067-892-926
2068-925-961
2069-959-996
2070-993-1032
2071-1028-1068
2072-1064-1106
2073-1101-1144
2074-1139-1183
2075-1178-1223
2076-1217-1264
2077-1258-1306
2078-1299-1349
2079-1340-1392
2080-1382-1435
2081-1424-1479
2082-1466-1522
2083-1508-1566
2084-1550-1609
2085-1592-1653
2086-1635-1698
2087-1678-1742
2088-1722-1788
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