Proposed Provision: B7.10. Replace the current-law WEP with a new calculation for most OASI and DI benefits based on covered and non-covered earnings, phased in for beneficiaries becoming newly eligible in 2023 to through 2032. For this new approach, compute a PIA based on all past earnings (covered and non-covered), and multiply by the "non-covered earnings ratio." This ratio is equal to the current-law concept of the average indexed monthly earnings computed without non-covered earnings divided by a modified average indexed monthly earnings that includes both covered and non-covered earnings in our records.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2016 | 303 | 303 |
| 2017 | 293 | 293 |
| 2018 | 277 | 277 |
| 2019 | 262 | 262 |
| 2020 | 246 | 246 |
| 2021 | 231 | 231 |
| 2022 | 216 | 216 |
| 2023 | 200 | 200 |
| 2024 | 183 | 183 |
| 2025 | 165 | 165 |
| 2026 | 149 | 149 |
| 2027 | 132 | 132 |
| 2028 | 115 | 115 |
| 2029 | 98 | 98 |
| 2030 | 81 | 81 |
| 2031 | 64 | 64 |
| 2032 | 46 | 46 |
| 2033 | 27 | 27 |
| 2034 | 8 | 9 |
| 2035 | -11 | -11 |
| 2036 | -30 | -30 |
| 2037 | -50 | -50 |
| 2038 | -71 | -70 |
| 2039 | -91 | -91 |
| 2040 | -112 | -111 |
| 2041 | -133 | -132 |
| 2042 | -154 | -154 |
| 2043 | -176 | -175 |
| 2044 | -197 | -196 |
| 2045 | -218 | -217 |
| 2046 | -240 | -238 |
| 2047 | -262 | -260 |
| 2048 | -283 | -282 |
| 2049 | -305 | -303 |
| 2050 | -327 | -325 |
| 2051 | -349 | -347 |
| 2052 | -371 | -368 |
| 2053 | -393 | -390 |
| 2054 | -415 | -412 |
| 2055 | -437 | -434 |
| 2056 | -460 | -456 |
| 2057 | -482 | -479 |
| 2058 | -506 | -502 |
| 2059 | -529 | -525 |
| 2060 | -553 | -549 |
| 2061 | -578 | -573 |
| 2062 | -603 | -598 |
| 2063 | -628 | -623 |
| 2064 | -654 | -649 |
| 2065 | -680 | -675 |
| 2066 | -706 | -701 |
| 2067 | -733 | -727 |
| 2068 | -760 | -754 |
| 2069 | -788 | -782 |
| 2070 | -816 | -810 |
| 2071 | -845 | -838 |
| 2072 | -874 | -868 |
| 2073 | -905 | -897 |
| 2074 | -935 | -928 |
| 2075 | -967 | -959 |
| 2076 | -1000 | -992 |
| 2077 | -1033 | -1025 |
| 2078 | -1068 | -1059 |
| 2079 | -1102 | -1094 |
| 2080 | -1138 | -1128 |
| 2081 | -1173 | -1163 |
| 2082 | -1208 | -1198 |
| 2083 | -1243 | -1233 |
| 2084 | -1279 | -1268 |
| 2085 | -1314 | -1303 |
| 2086 | -1349 | -1338 |
| 2087 | -1384 | -1373 |
| 2088 | -1419 | -1408 |
| 2089 | -1455 | -1443 |
| 2090 | -1491 | -1479 |
| 2091 | -1528 | -1516 |
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