Number 
Table and graph selection 
B1.1 
Price indexing of PIA factors beginning with those newly eligible for OASDI
benefits in 2024: Reduce factors so that initial benefits grow by
inflation rather than by the SSA average wage index.
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(PDF version)
Memorandum containing this or a similar provision:

B1.2 
Progressive price indexing (30th percentile) of PIA factors beginning with
individuals newly eligible for OASDI benefits in 2024: Create a new bend
point at the 30th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 30th percentile and below.
Reduce the 32 and 15 percent factors above the 30th percentile such that the
initial benefit for a worker with AIME equal to the taxable maximum grows by
inflation rather than the growth in the SSA average wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:

B1.3 
Progressive price indexing (40th percentile) of PIA factors beginning with
individuals newly eligible for OASDI benefits in 2024: Create a new bend
point at the 40th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 40th percentile and below.
Reduce the 32 and 15 percent factors above the 40th percentile such that the
initial benefit for a worker with AIME equal to the taxable maximum grows by
inflation rather than the growth in the SSA average wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:

B1.4 
Progressive price indexing (50th percentile) of PIA factors beginning with
individuals newly eligible for OASDI benefits in 2024: Create a new bend
point at the 50th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 50th percentile and below.
Reduce the 32 and 15 percent factors above the 50th percentile such that the
initial benefit for a worker with AIME equal to the taxable maximum grows by
inflation rather than the growth in the SSA average wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:

B1.5 
Progressive price indexing (60th percentile) of PIA factors beginning with
individuals newly eligible for OASDI benefits in 2024: Create a new bend
point at the 60th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 60th percentile and below.
Reduce the 32 and 15 percent factors above the 60th percentile such that the
initial benefit for a worker with AIME equal to the taxable maximum grows by
inflation rather than the growth in the SSA average wage index.
Summary measures and graphs
(PDF version)
Detailed single year tables
(PDF version)
Memorandum containing this or a similar provision:

B1.6 (2021) 
Progressive price indexing (30th percentile) of PIA factors beginning with
individuals newly eligible for OASI benefits in 2021: Create a new bend
point at the 30th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 30th percentile and below.
Reduce the 32 and 15 percent factors above the 30th percentile such that the
initial benefit for a worker with AIME equal to the taxable maximum grows by
inflation rather than the growth in the SSA average wage index. Disabled workers
are: (a) not affected prior to normal retirement age; and (b) subject to a
proportional reduction in benefits, based on the worker's years of disability,
upon conversion to retiredworker beneficiary status. Young survivors (children
of deceased workers and surviving spouses with a child in care) are not affected.
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B1.6 (2026) 
Progressive price indexing (30th percentile) of PIA factors beginning with
individuals newly eligible for OASI benefits in 2026: Create a new bend
point at the 30th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 30th percentile and below.
Reduce the 32 and 15 percent factors above the 30th percentile such that the
initial benefit for a worker with AIME equal to the taxable maximum grows by
inflation rather than the growth in the SSA average wage index. Disabled workers
are: (a) not affected prior to normal retirement age; and (b) subject to a
proportional reduction in benefits, based on the worker's years of disability,
upon conversion to retiredworker beneficiary status.
Summary measures and graphs
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Memorandum containing this or a similar provision:

B1.7 
Progressive price indexing (40th percentile) of PIA factors for individuals
newly eligible for OASI benefits in 2025 through 2062: Create a new bend
point at the 40th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 40th percentile and below. Reduce
the 32 and 15 percent factors above the 40th percentile such that the initial
benefit for a worker with AIME equal to the taxable maximum grows by inflation
rather than the growth in the SSA average wage index. Disabled workers are: (a)
not affected prior to normal retirement age; and (b) subject to a proportional
reduction in benefits, based on the worker's years of disability, upon conversion
to retiredworker beneficiary status. Young survivors (children of deceased
workers and surviving spouses with a child in care) are not affected.
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Memorandum containing this or a similar provision:

B1.8 
Progressive price indexing (50th percentile) of PIA factors for individuals
newly eligible for OASI benefits in 2022 through 2061: Create a new bend
point at the 50th percentile of the AIME distribution of newly retired workers.
Maintain currentlaw benefits for earners at the 50th percentile and below.
Reduce the 32 and 15 percent factors above the 50th percentile such that the
initial benefit for a worker with AIME equal to the taxable maximum grows by
inflation rather than the growth in the SSA average wage index. Disabled workers
are: (a) not affected prior to normal retirement age; and (b) subject to a
proportional reduction in benefits, based on the worker's years of disability,
upon conversion to retiredworker beneficiary status.
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Memorandum containing this or a similar provision:

B2.1 
Beginning with those newly eligible for OASI benefits in 2027, multiply the
PIA factors by the ratio of life expectancy at 67 for 2022 to the life expectancy
at age 67 for the 4th year prior to the year of benefit eligibility. Unisex life
expectancies, based on period life tables as computed by SSA's Office of the
Chief Actuary, are used to determine the ratio. Disabled workers are: (a) not
affected prior to normal retirement age; and (b) subject to a proportional
reduction in benefits, based on the worker's years of disability, upon conversion
to retiredworker beneficiary status.
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B3.1 
Beginning with those newly eligible for OASDI benefits in 2018, multiply the
32 and 15 percent PIA factors each year by 0.987. Stop reductions after 2048,
when the factors reach 21 percent and 10 percent, respectively.
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B3.2 
Beginning with those newly eligible for OASI benefits in 2025, multiply the
90 and 32 percent PIA factors each year by 0.9925 and 0.982, respectively.
Stop reductions after 2062. Beginning with those newly eligible for OASI
benefits in 2020, multiply the 15 factor by 0.982. Stop reduction of the 15
factor after 2057. Disabled workers are: (a) not affected prior to normal
retirement age; and (b) subject to a proportional reduction in benefits,
based on the worker's years of disability, upon conversion to retiredworker
beneficiary status. Child beneficiaries and spouses with a child in care
under the OASI program are not affected by this proposal.
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Memorandum containing this or a similar provision:

B3.3 
Beginning with those newly eligible for OASDI benefits in 2018, use a modified
primary insurance amount (PIA) formula. The modified formula: (1) increases the
first bend point to the equivalent of $800 in 2009 (about $952 in 2017); (2)
places a new bend point 75 percent of the way between the reset first bend point
and the currentlaw second bend point; (3) lowers the PIA factor between the new
bend point and the upper bend point from 32 percent to 20 percent; and (4) lowers
the factor above the upper bend point from 15 percent to 10 percent.
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B3.4 
Beginning with those newly eligible for OASDI benefits in 2021, multiply
all PIA factors each year by 0.991. Stop reductions after 2049. Disabled
workers are: (a) not affected prior to normal retirement age; and (b)
subject to a proportional reduction in benefits, based on the worker's
years of disability, upon conversion to retiredworker beneficiary status.
Young survivors (children of deceased workers and surviving spouses with
a child in care) are not affected.
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Memorandum containing this or a similar provision:

B3.5 
Progressive indexing (30th percentile) of PIA factors beginning with
individuals newly eligible for OASI benefits in 2020, continuing through
2057, and resuming in 2078: Create a new bend point at the 30th percentile
of the AIME distribution of newly retired workers. Maintain currentlaw
benefits for earners at the 30th percentile and below. Reduce the 32 and
15 percent factors above the 30th percentile such that the initial benefit
for a worker with AIME equal to the taxable maximum is reduced by 1.20
percent per year as compared to current law (for the years that progressive
indexing applies). Disabled workers are: (a) not affected prior to normal
retirement age; and (b) subject to a proportional reduction in benefits,
based on the worker's years of disability, upon conversion to retiredworker
beneficiary status.
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Memorandum containing this or a similar provision:

B3.6 
Progressive indexing (30th percentile) of PIA factors beginning with
individuals newly eligible for OASI benefits in 2020, continuing through
2069: Create a new bend point at the 30th percentile of the AIME
distribution of newly retired workers. Maintain currentlaw benefits for
earners at the 30th percentile and below. Reduce the 32 and 15 percent
factors above the 30th percentile such that the initial benefit for a
worker with AIME equal to the taxable maximum is reduced by 1.20 percent
per year as compared to current law (for the years that progressive indexing
applies). Disabled workers are: (a) not affected prior to normal retirement
age; and (b) subject to a proportional reduction in benefits, based on the
worker's years of disability, upon conversion to retiredworker beneficiary
status.
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Memorandum containing this or a similar provision:

B3.7 
Progressive indexing (30th percentile) of PIA factors beginning with
individuals newly eligible for OASI benefits in 2020, continuing through
2029, and resuming in 2068: Create a new bend point at the 30th percentile
of the AIME distribution of newly retired workers. Maintain currentlaw
benefits for earners at the 30th percentile and below. Reduce the 32 and
15 percent factors above the 30th percentile such that the initial benefit
for a worker with AIME equal to the taxable maximum is reduced by 1.20 percent
per year as compared to current law (for the years that progressive indexing
applies). Disabled workers are: (a) not affected prior to normal retirement
age; and (b) subject to a proportional reduction in benefits, based on the
worker's years of disability, upon conversion to retiredworker beneficiary
status.
Summary measures and graphs
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Memorandum containing this or a similar provision:

B3.8 
Beginning with those newly eligible for OASDI benefits in 2024, create
a new bend point at the 50th percentile of the AIME distribution of
newly retired workers and gradually reduce all PIA factors except for
the 90 percent factor. By 2057: a) the 32 percent PIA factor below the
new bend point reduces to 30 percent; b) the 32 percent PIA factor above
the new bend point reduces to 10 percent; and c) the 15 percent PIA
factor reduces to 5 percent.
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B3.9 
Beginning with those newly eligible for OASDI benefits in 2030, gradually
reduce the 15 percent PIA factor in each year so that it reaches 10 percent
for those newly eligible in 2059 and later.
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B3.10 
Beginning with those newly eligible for OASDI benefits in 2024, gradually
increase the first PIA bend point in each year so that it is 15 percent
higher for those newly eligible in 2038 and later.
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B3.11 
Increase the first PIA factor from 90 percent to 93 percent for all
beneficiaries eligible as of January 2019 and for those newly eligible
for benefits after 2018.
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B3.12 
Use an annualized "miniPIA" formula beginning with retired workers
newly eligible in 2024. For each indexed earnings year, compute an
individual AIME and an individual PIA. Sum these individual PIAs for
the 40 highest years of indexed earnings and divide that total amount
by 37 to get the PIA for this provision. Phasein over five years,
meaning that in 2024, 80 percent of the benefit would be based on the
old 35year average PIA formula and 20 percent on the new miniPIA
formula, shifting by 20 percentage points each year until 100 percent
is based on the new miniPIA formula for those attaining age 62 in
2028. Disabled worker benefits are unchanged under this provision.
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B3.13 
For retired worker beneficiaries newly eligible in 2024 (excluding disabled
workers), add a new bend point at the wageindexed equivalent of the 50th
percentile of the AIME distribution minus $100 (for 2015 eligibility) and
change the PIA factors to 95/32/15/5. Also move the currentlaw first bend
point from the wageindexed equivalent of $885 in 2017 to $1,125 in 2017.
Phase this provision in over 10 years (20242033). The phasein would work
on a weightedaverage basis: 90% of CL formula + 10% of proposal formula for
2024, 80% of CL formula + 20% of proposal formula for 2025, and so on.
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B3.14 
Beginning with those newly eligible for OASDI benefits in 2019,
reduce the 15 percent PIA factor by 2 percentage points per year
so that it reaches 5 percent for those newly eligible in 2023
and later.
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B3.15 
Increase the 90 percent PIA formula factor to 91 percent for beneficiaries
newly eligible in 2022, 92 percent for those newly eligible in 2023, ...,
reaching 95 percent for those newly eligible in 2026 and later.
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B3.16 
For retired worker and disabled worker beneficiaries becoming initially
eligible in January 2024 or later, phase in a new benefit formula (from
2024 to 2033). Replace the existing two primary insurance amount (PIA)
bend points with three new bend points as follows: (1) 25% AWI/12 from
2 years prior to initial eligibility; (2) 100% AWI/12 from 2 years prior
to initial eligibility; and (3) 125% AWI/12 from 2 years prior to initial
eligibility. The new PIA factors are 95%, 27.5%, 5% and 2%. During the
phase in, those becoming newly eligible for benefits will receive an
increasing portion of their benefits based on the new formula, reaching
100% of the new formula in 2033.
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B4.1 
Increase the number of years used to calculate benefits for retirees and
survivors (but not for disabled workers) from 35 to 38, phased in over
the years 20182022.
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B4.2 
Increase the number of years used to calculate benefits for retirees and
survivors (but not for disabled workers) from 35 to 40, phased in over
the years 20182026.
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B4.3 
For the OASI and DI computation of the PIA, gradually reduce the maximum
number of dropout years from 5 to 0, phased in over the years 20192027.
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B4.4 
Reduce the number of computation years (increase dropout years) for
parents having a child in care under the age of 6. The parent must
have no earnings (covered or noncovered) for the year to be eligible
for the credit. Only one parent can claim the childcare added dropout
year for a given earnings year. Each parent can earn at most 2 dropout
years per child, and a maximum of 5 dropout years in total. The years
designated as childcare years do not have to be the years that could
otherwise be included in the computation of the average indexed monthly
earnings (AIME). The provision would be effective for all benefits
payable for entitlement in January 2019 and later (without regard for
when the beneficiary became initially eligible).
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B4.5 
For retired and disabled workers, reduce the maximum number of dropout
years to 4 for workers newly eligible in 2019, to 3 for workers newly
eligible in 2020, and to 2 for workers newly eligible in 2021 and later.
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B5.1 
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 2035, and is phased
in for new eligibles in 2026 through 2034. 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.
(Yearofwork 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 35year steady minimum wage earner.
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B5.2 
Beginning for those newly eligible in 2018, 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 $1,238 in 2016). For those with under 30 years
of coverage, the PIA per year of coverage over 10 years is $1,238/20
= $61.90. (c) Index the initial PIA per year of coverage by wage
growth for successive cohorts.
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B5.3 
Beginning for those newly eligible in 2018, 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 $1,238 in 2016). For those with under 30 years of coverage,
the PIA per year of coverage over 10 years is $1,238/20 = $61.90.
(c) Index the initial PIA per year of coverage by wage growth for
successive cohorts.
Summary measures and graphs
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Memorandum containing this or a similar provision:

B5.4 
Beginning for those newly eligible in 2024, 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 $1,238 in
2016). For those with under 30 years of coverage, the PIA per year of coverage
over 10 years is $1,238/20 = $61.90. (c) From 2016 to the year of implementation,
2024, index the PIA per year of coverage using the chainCPI 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 nondisabled potential work.
Summary measures and graphs
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Memorandum containing this or a similar provision:

B5.5 
Beginning for those newly eligible in 2019, reconfigure the special minimum
benefit: (a) A year of coverage is defined as a year in which either 20 percent
of the "old law maximum" is earned or a child is in care. Childcare years
are granted to parents who have a child under 6, with a limit of 8 such years.
(b) At implementation, set the PIA for 30 years of coverage equal to 133 percent
of the Census monthly poverty level (about $1,276 in 2016). For those with
under 30 years of coverage, the PIA per year of coverage over 19 years is
$1,276/11 = $116.00. (c) Index the initial 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 nondisabled potential work.
Summary measures and graphs
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Memorandum containing this or a similar provision:

B5.6 
Beginning for those newly eligible in 2018, 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 $1,005 in 2017). For those with
under 30 years of coverage, the PIA per year of coverage over 10 years is
$1,005/20 = $50.25. (c) From 2017 to the year of implementation, 2018, 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 nondisabled potential work.
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Memorandum containing this or a similar provision:

B5.7 
Beginning for those newly eligible in 2020, reconfigure the special minimum
benefit: (a) The number of years of work (YOWs) is determined as total quarters
of coverage divided by 4, ignoring any fraction. 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+ YOWs equal to 100 percent of the monthly
HHS poverty level for the year prior to eligibility. For workers between 11
and 29 YOWs, reduce the special minimum by 3 1/3 percentage points per YOW so
that at 29 YOWs the minimum would be 96 2/3% of poverty, ..., down to 11 YOWs
at 36 2/3% of poverty. No minimum for 10 or fewer YOWs.
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B5.8 
Beginning in 2022, create a Basic Minimum Benefit (BMB) within Social Security
(i.e., the cost of the BMB would be charged as a cost to the OASI Trust Fund),
with the following specifications: (1) Eligibility for the BMB would be limited
to OASI beneficiaries who have attained normal retirement age (NRA) or above.
OASI beneficiaries under NRA would not be eligible for the BMB. (2) The BMB would
be calculated on a household basis and split equally between members of the household.
In the case of a married couple, both spouses would need to claim any Social Security
benefits for which they are eligible before they could receive the BMB. If both
spouses have claimed and one is NRA or above and the other has not yet attained
NRA, only the half of the BMB for the spouse over NRA would be payable. (3) The
BMB amount for single beneficiaries would be equal to either: 1) the BMB base
($604 in 2015)  0.70 * current monthly OASI benefit (not including any BMB), if
positive; or 2) zero. (4) The BMB amount for married beneficiaries would be equal
to either: 1) the BMB base ($906 in 2015)  0.70 * total household monthly OASI
benefits (not including any BMB), if positive; or 2) zero. (5) The BMB bases for
singles and couples would be updated annually for changes in the average wage index
(AWI). (6) Single filers with Adjusted Gross Income (AGI) over $30,000 and joint
filers with AGI (including taxable SS benefits) over $45,000 would be subject to
clawback of the BMB through the income tax system. Any BMB would be reduced by one
dollar for every dollar of income above the thresholds. (Thresholds, in 2015 dollars,
would be indexed to chained CPIU.) Clawbacks would be credited back to the OASI
Trust Fund.
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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
nondisabled potential work. Disabled workers have a somewhat similar minimum
benefit amount.
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B5.10 
Reconfigure the special minimum benefit, phased in for retired and disabled
workers newly eligible from 2024 through 2033: (a) A year of work (YOW) coverage
is equal to earnings at or above $10,875 in 2017 (reflecting a fulltime
worker earning the federal minimum wage), adjusted thereafter for wage growth.
(b) At implementation, set the minimum PIA at zero percent of AWI for those
with 10 or fewer YOWs to 15 percent of AWI for those with 15 YOWs, increasing
linearly so that it reaches 19 percent for 19 YOWs. Then the minimum PIA would
jump up to 25 percent of AWI for those with 20 YOWs, increasing linearly so
that it equals 35 percent of AWI for those with 35 or more YOWs. (c) Use the
AWI for two years prior to the year of initial eligibility in the minimum PIA
calculation with COLA increase after the year of initial eligibility. (d)
Scale the YOW requirements for disabled workers, based on the number of years
of nondisabled potential work.
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B6.1 
Provide a 5 percent increase to the monthly benefit amount (MBA) of any
beneficiary who is 85 or older at the beginning of 2018 or who reaches
their 85th birthday after the beginning of 2018.
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B6.2 
Provide the same dollar amount increase to the monthly benefit amount
(MBA) of any beneficiary who is 85 or older at the beginning of 2018
or who reaches their 85th birthday after the beginning of 2018. The
dollar amount of increase equals 5 percent of the average retiredworker
MBA in the prior year.
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B6.3 
Provide an increase in the benefit level of any beneficiary who is 85
or older at the beginning of 2019 or who reaches their 85th birthday
after the beginning of 2019. Increase the beneficiary's PIA based on
an amount equal to the average retiredworker PIA at the end of 2018,
or at the end of the year age 80 if later. Increase the beneficiary's
PIA by 5 percent of this amount for those older than 85 at the beginning
of 2019 and by 5 percent of this amount at age 85 for others, phased
in at 1 percent per year for ages 8185.
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B6.4 
Starting in 2018, provide a 5 percent uniform benefit increase 24
years after initial benefit eligibility. Phase in the benefit
increase at 1 percent per year from the 20th through 24th years
after eligibility. For disabled workers, the eligibility age is the
initial entitlement year to the benefit. The benefit increase is
equal to 5 percent of the PIA of a worker assumed to have careeraverage
earnings equal to SSA's average wage index.
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Memorandum containing this or a similar provision:

B6.5 
Starting in 2020, provide a 5 percent uniform PIA increase 20 years
after benefit eligibility. Phase in the PIA increase at 1 percent
per year from the 16th through 20th years after eligibility. The full
PIA increase is equal to 5 percent of the PIA of a worker assumed to
have careeraverage earnings equal to the SSA average wage index.
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B6.6 
Starting in 2024, provide a uniform PIA increase 23 years after benefit
eligibility. Phase in the PIA increase at 0.5 percent per year from the
14th through the 23rd years after eligibility. The full PIA increase is
equal to 5 percent of the average retired worker PIA in December of the
12th year after benefit eligibility. A similar additional PIA increase
applies 42 years after benefit eligibility (age 104), phased in from the
33rd through the 42nd years after eligibility. For those past the 14th
year of eligibility in 2024 (over age 76 for retirees), phase in the PIA
enhancement over 10 years starting in 2024. Auxiliary beneficiaries receive
benefit enhancement based on the PIA of the governing worker.
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B6.7 
Starting in January 2024, provide an addition to monthly benefits for all
beneficiaries who have been eligible for at least 20 years, with the following
specifications: (1) Augment benefits (not the PIA) for those of qualifying
age and eligibility duration with a MAGI below about $25,600 if single and
$51,200 if married. MAGI is set to equal the IRMAA definition (AGI plus
taxexempt interest income). Index these thresholds after 2024 by the increase
in the CCPIU; (2) The full additional amount is applicable for those
born 1958 and later, once 24 years elapse from initial eligibility. The
basic additional amount is calculated as 5 percent of the PIA for a hypothetical
worker with earnings equal to the AWI each year; (3) For those born prior
to 1958, the full additional amount is multiplied by the number of years
they have been affected by the CCPIU, divided by 24; (4) Beneficiaries
will receive 20 percent of their additional amount in their 20th year after
initial eligibility, 40 percent in their 21st year after initial eligibility,...,
and 100 percent of their additional amount in their 24th and later years after
benefit eligibility; (5) Retired and disabled worker beneficiaries, dually
entitled spouse beneficiaries, and all survivor beneficiaries received their
addition as described above. Spousal beneficiaries (aged or with child in care)
and child beneficiaries of a living retired or disabled worker receive 50 percent
of the additional amount described above. Other beneficiary types (such as parents
of deceased workers) will receive the percentage of the flat benefit that equals
the percentage of the insured worker's PIA that they receive; (6) The AWI used
is for the second year prior to the beneficiary's initial eligibility year,
with applicable COLAs applied up to the age when the addition is received; and
(7) The additional amount is added to the monthly benefit after reductions for
early claiming or increases for delayed claiming have been applied.
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Memorandum containing this or a similar provision:

B7.1 
Reduce benefits by 3 percent for those newly eligible for benefits in 2018 and later.
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B7.2 
Reduce benefits by 5 percent for those newly eligible for benefits in 2018 and later.
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B7.3 
Give credit to parents with a child under 6 for earnings for up to
five years. The earnings credited for a childcare year equal one half
of the SSA average wage index (about $24,682 in 2016). The credits
are available for all past years to newly eligible retiredworker
and disabledworker beneficiaries starting in 2018. The 5 years are
chosen to yield the largest increase in AIME.
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B7.4 
Increase benefits by 2 percent for all beneficiaries as of the beginning
of 2018 and for those newly eligible for benefits after the beginning of 2018.
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B7.5 
Increase benefits by 5 percent for all beneficiaries as of the beginning of
2018 and for those newly eligible for benefits after the beginning of 2018.
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B7.6 
Increase benefits by 20 percent for all beneficiaries as of the beginning of
2018 and for those newly eligible for benefits after the beginning of 2018.
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B7.7 
Reduce individual Social Security benefits if modified adjusted gross
income, or MAGI (AGI less taxable Social Security benefits plus nontaxable
interest income) is above $60,000 for single taxpayers or $120,000 for
taxpayers filing jointly. This provision is effective for individuals
newly eligible for benefits in 2022 or later. The percentage reduction
increases linearly up to 50 percent for single/joint filers with MAGI
of $180,000/$360,000 or above. Index the MAGI thresholds for years after
2022, based on changes in the SSA average wage index.
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B7.8 
Replace the Windfall Elimination Provision (WEP) and Government Pension
Offset (GPO) with a revised reduction for most OASI benefits based on
all earnings, beginning with beneficiaries newly eligible in 2024.
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B7.9 
Beginning for newly eligible retired workers and spouses in 2024, all
claimants who are married would receive a specified jointandsurvivor
annuity benefit (i.e., surviving spouses would receive 75 percent of
the decedents' benefits, in addition to their own) that would be payable
if both were still alive. Initial benefits would be actuarially adjusted
to keep the expected value of benefits equivalent to what would otherwise
be current law.
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Memorandum containing this or a similar provision:

B7.10 
Replace the currentlaw WEP with a new calculation for most OASI and DI
benefits based on covered and noncovered earnings, phased in for beneficiaries
becoming newly eligible in 2024 through 2033. For this new approach, compute
a PIA based on all past earnings (covered and noncovered), and multiply
by the "noncovered earnings ratio." This ratio is equal to the currentlaw
concept of the average indexed monthly earnings computed without noncovered
earnings divided by a modified average indexed monthly earnings that includes
both covered and noncovered earnings in our records.
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Memorandum containing this or a similar provision:

B7.11 
Beginning in January 2020, eliminate the retirement earnings test for all
beneficiaries under normal retirement age, including retired workers, aged
spouses, aged widow(er)s, young spouses with a child in care, young surviving
spouses with a child in care, and children.
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B7.12 
Provide an option to split the 8percent delayed retirement credit (DRC)
to offer a lump sum benefit at initial entitlement equal to 2 percent of
the 8 percent DRC earned, and a 6 percent DRC on subsequent monthly benefits,
effective for workers newly entitled to retired worker benefits in 2020
and later. Widows are held harmless from the lumpsum decision.
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Above provisions
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