Proposed Provision: B5.3. Beginning for those newly eligible in 2022, 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 $1,329 in 2020). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,329/20 = $66.45. (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
2021253253
2022231231
2023214214
2024196196
2025178177
2026159159
2027141140
2028122121
2029104102
20308583
20316663
20324644
20332724
203473
2035-13-17
2036-33-38
2037-54-60
2038-76-82
2039-97-104
2040-119-127
2041-142-150
2042-165-174
2043-188-198
2044-211-222
2045-235-247
2046-258-271
2047-282-296
2048-306-321
2049-330-346
2050-354-371
2051-378-397
2052-403-422
2053-427-448
2054-452-474
2055-477-500
2056-502-526
2057-527-553
2058-552-579
2059-578-606
2060-604-633
2061-630-661
2062-657-689
2063-684-718
2064-712-747
2065-740-776
2066-768-806
2067-796-836
2068-825-866
2069-855-897
2070-884-928
2071-914-960
2072-945-992
2073-976-1024
2074-1007-1057
2075-1039-1090
2076-1071-1125
2077-1105-1160
2078-1139-1196
2079-1175-1234
2080-1211-1272
2081-1248-1310
2082-1286-1350
2083-1324-1390
2084-1363-1431
2085-1403-1473
2086-1443-1515
2087-1483-1557
2088-1524-1600
2089-1564-1643
2090-1604-1685
2091-1643-1726
2092-1681-1765
2093-1718-1804
2094-1754-1842
2095-1789-1880
2096-1825-1917
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