Proposed Provision: B5.5. Beginning for those newly eligible in 2024, 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 $1,440 in 2021). For those with under 30 years of coverage, the PIA per year of coverage over 19 years is $1,440/11 = $130.90. (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 non-disabled potential work.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
202212.812.814.114.1
202313.013.014.314.3
202413.013.014.414.4
202513.013.014.714.7
202613.113.114.914.9
202713.113.115.115.1
202813.113.115.315.3
202913.213.215.515.5
203013.213.215.715.7
203113.213.215.915.9
203213.213.216.116.1
203313.313.316.216.2
203413.313.316.316.3
203513.313.316.416.4
203613.313.316.516.5
203713.313.316.616.6
203813.313.316.616.7
203913.313.316.716.7
204013.313.316.716.7
204113.313.316.716.8
204213.313.316.816.8
204313.313.316.816.8
204413.313.316.816.8
204513.313.316.816.9
204613.313.316.816.9
204713.313.316.916.9
204813.313.316.916.9
204913.313.316.916.9
205013.313.316.917.0
205113.313.317.017.0
205213.313.317.017.0
205313.313.317.117.1
205413.313.317.117.1
205513.313.317.117.2
205613.313.317.217.2
205713.313.317.317.3
205813.413.417.317.4
205913.413.417.417.4
206013.413.417.517.5
206113.413.417.517.6
206213.413.417.617.6
206313.413.417.617.7
206413.413.417.717.7
206513.413.417.717.8
206613.413.417.817.8
206713.413.417.817.9
206813.413.417.917.9
206913.413.417.918.0
207013.413.418.018.0
207113.413.418.118.1
207213.413.418.118.2
207313.413.418.218.2
207413.413.418.218.3
207513.413.418.318.3
207613.413.418.318.3
207713.413.418.318.4
207813.413.418.318.4
207913.413.418.318.4
208013.413.418.318.3
208113.413.418.318.3
208213.413.418.218.3
208313.413.418.218.3
208413.413.418.218.2
208513.413.418.118.2
208613.413.418.018.1
208713.413.418.018.0
208813.413.417.918.0
208913.413.417.917.9
209013.413.417.817.8
209113.413.417.717.8
209213.413.417.717.7
209313.413.417.717.7
209413.413.417.717.7
209513.413.417.617.7
209613.413.417.617.7
209713.413.417.617.7
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