Proposed Provision: B5.2. Beginning for those newly eligible in 2023, 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 $1,342 in 2021). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,342/20 = $67.10. (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
2022230230
2023211211
2024194194
2025177177
2026160159
2027143142
2028126125
2029109108
20309191
20317473
20325755
20333938
20342119
203531
2036-16-18
2037-35-38
2038-54-58
2039-74-79
2040-95-100
2041-116-121
2042-137-142
2043-158-164
2044-180-187
2045-202-209
2046-224-232
2047-246-255
2048-268-278
2049-291-301
2050-313-324
2051-336-348
2052-359-372
2053-383-396
2054-406-420
2055-430-444
2056-453-469
2057-477-493
2058-501-518
2059-525-543
2060-550-569
2061-575-595
2062-601-622
2063-627-649
2064-654-677
2065-681-705
2066-708-733
2067-736-762
2068-764-791
2069-792-821
2070-821-850
2071-850-881
2072-880-912
2073-910-943
2074-940-974
2075-971-1006
2076-1003-1039
2077-1036-1073
2078-1069-1108
2079-1104-1144
2080-1139-1180
2081-1175-1218
2082-1212-1256
2083-1249-1294
2084-1286-1333
2085-1324-1373
2086-1363-1413
2087-1402-1454
2088-1442-1495
2089-1481-1535
2090-1520-1576
2091-1558-1615
2092-1595-1654
2093-1632-1692
2094-1668-1730
2095-1703-1767
2096-1738-1803
2097-1773-1839
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