Proposed Provision: B5.9. Beginning for those newly eligible in 2019, 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 40 years of coverage equal to 125 percent of the monthly Aged Federal poverty level (about $1,200 in 2016). For those with 20 or fewer years of coverage, phase up linearly from 0 percent of the poverty level for 10 years of coverage to 100 percent of the poverty level. For those having between 20 and 40 years of coverage, phase up linearly from 100 percent of the poverty level at 20 years of coverage to 125% of the poverty level for 40 or more years of coverage. (c) For newly eligible workers in 2019 and 2020, index the applicable poverty level using the CPI index, to the year prior to eligibility. Then, for newly eligible workers in 2021 and later, index the PIA per year of coverage by wage growth for successive cohorts. (d) Disabled workers have a somewhat similar minimum benefit, with work requirements scaled based on the number of years of non-disabled potential work. Disabled workers have a somewhat similar minimum benefit amount.

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

Year Current Law Provision
2017298298
2018287287
2019273273
2020259259
2021245245
2022230230
2023215215
2024199199
2025182182
2026165165
2027148147
2028130130
2029112111
20309493
20317574
20325655
20333735
20341614
2035-4-7
2036-26-29
2037-47-51
2038-70-74
2039-92-97
2040-115-120
2041-138-143
2042-161-167
2043-184-190
2044-207-214
2045-230-238
2046-253-262
2047-276-286
2048-300-310
2049-323-334
2050-346-358
2051-370-382
2052-393-406
2053-417-430
2054-440-455
2055-464-479
2056-487-504
2057-511-529
2058-536-554
2059-560-580
2060-585-606
2061-611-632
2062-637-659
2063-663-687
2064-690-714
2065-717-743
2066-745-771
2067-772-800
2068-801-830
2069-829-859
2070-858-890
2071-888-920
2072-918-952
2073-949-984
2074-981-1017
2075-1014-1051
2076-1047-1086
2077-1082-1122
2078-1117-1159
2079-1153-1196
2080-1190-1234
2081-1227-1272
2082-1264-1310
2083-1300-1349
2084-1337-1387
2085-1374-1425
2086-1410-1463
2087-1446-1500
2088-1483-1538
2089-1520-1577
2090-1557-1615
2091-1595-1654
2092-1633-1694
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