Proposed Provision: B5.3. Beginning for those newly eligible in 2020, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 5, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,265 in 2018). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,265/20 = $63.25. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

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

Year Current Law Provision
2019273273
2020260260
2021245245
2022229229
2023213213
2024197196
2025180179
2026163162
2027147145
2028130128
2029114111
20309794
20318076
20326358
20334640
20342822
2035103
2036-9-17
2037-28-37
2038-47-57
2039-67-78
2040-87-99
2041-108-120
2042-129-142
2043-150-164
2044-171-186
2045-192-209
2046-213-231
2047-234-253
2048-255-275
2049-276-298
2050-297-320
2051-318-342
2052-338-365
2053-359-387
2054-380-410
2055-401-432
2056-422-455
2057-444-478
2058-465-501
2059-487-524
2060-509-548
2061-531-572
2062-554-596
2063-577-621
2064-601-646
2065-625-672
2066-649-698
2067-674-724
2068-699-751
2069-724-778
2070-749-806
2071-776-834
2072-802-862
2073-830-891
2074-857-921
2075-885-951
2076-914-982
2077-944-1014
2078-975-1047
2079-1007-1080
2080-1039-1115
2081-1072-1150
2082-1106-1186
2083-1139-1222
2084-1173-1258
2085-1207-1294
2086-1242-1331
2087-1275-1367
2088-1309-1403
2089-1342-1438
2090-1375-1473
2091-1407-1508
2092-1439-1542
2093-1471-1576
2094-1503-1610
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