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 2033, and is phased in for new eligibles in 2024 through 2032. 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
2015308308
2016298298
2017280280
2018264264
2019248248
2020233233
2021219219
2022204204
2023189189
2024173173
2025157157
2026142142
2027126126
2028110110
20299494
20307777
20316059
20324241
20332322
203443
2035-16-17
2036-36-37
2037-57-58
2038-78-80
2039-100-101
2040-122-123
2041-144-146
2042-166-168
2043-189-191
2044-211-213
2045-234-237
2046-257-260
2047-280-283
2048-303-307
2049-327-330
2050-351-354
2051-375-378
2052-398-403
2053-423-427
2054-447-452
2055-472-476
2056-496-502
2057-522-527
2058-548-554
2059-574-580
2060-601-608
2061-629-635
2062-657-664
2063-685-692
2064-714-722
2065-744-752
2066-774-782
2067-804-812
2068-835-844
2069-867-875
2070-899-907
2071-932-940
2072-965-974
2073-1000-1009
2074-1035-1045
2075-1072-1081
2076-1110-1119
2077-1148-1158
2078-1188-1198
2079-1228-1238
2080-1268-1279
2081-1309-1319
2082-1350-1360
2083-1391-1401
2084-1432-1442
2085-1472-1483
2086-1514-1525
2087-1555-1566
2088-1597-1608
2089-1640-1651
2090-1683-1694
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