Summary Measures and Graphs
Description of Proposed Provision:
						B5.7: Beginning for those newly eligible in 2026, 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.
		   
		  
		
       Estimates based on the intermediate assumptions
        of the 2023 Trustees Report
       
    
      | Summary Measures | |||||||
|---|---|---|---|---|---|---|---|
| Current law [percent of payroll]  | 
          
          Change from current law [percent of payroll]  | 
          
          Shortfall eliminated | |||||
| Long-range actuarial balance  | 
          Annual balance in 75th year  | 
          
          Long-range actuarial balance  | 
          Annual balance in 75th year  | 
          
          Long-range actuarial balance  | 
          Annual balance in 75th year  | 
        ||
| -3.61 | -4.35 | -0.02 | -0.01 | -1% | -0% | ||
                  
               
               
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