Proposed Provision: B5.6. Beginning for those newly eligible in 2021, 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 6, with a limit of 5 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 100 percent of the monthly poverty level (about $1,063 in 2020). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,063/20 = $53.15. (c) From 2020 to the year of implementation, 2021, index the PIA per year of coverage using the 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 Current Law Provision
2020261261
2021248248
2022233233
2023217217
2024200200
2025183182
2026165165
2027148147
2028130129
2029112111
20309493
20317675
20325856
20333937
20342018
20351-1
2036-19-21
2037-38-41
2038-59-62
2039-80-83
2040-101-104
2041-122-126
2042-144-148
2043-166-170
2044-188-193
2045-210-216
2046-232-238
2047-255-261
2048-277-284
2049-299-307
2050-322-329
2051-344-352
2052-367-375
2053-389-398
2054-412-421
2055-434-445
2056-457-468
2057-480-492
2058-504-516
2059-527-540
2060-551-564
2061-575-589
2062-599-614
2063-624-639
2064-650-665
2065-676-692
2066-702-718
2067-728-745
2068-755-773
2069-782-801
2070-809-829
2071-837-857
2072-866-887
2073-895-916
2074-925-947
2075-955-978
2076-986-1009
2077-1018-1042
2078-1051-1075
2079-1084-1110
2080-1119-1145
2081-1154-1181
2082-1190-1217
2083-1226-1254
2084-1263-1292
2085-1300-1330
2086-1337-1368
2087-1374-1406
2088-1411-1444
2089-1448-1481
2090-1484-1518
2091-1520-1555
2092-1554-1590
2093-1589-1626
2094-1623-1660
2095-1657-1695
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