Proposed Provision: B5.10. Reconfigure the special minimum benefit, phased in for retired and disabled workers newly eligible from 2023 through 2032: (a) A year of work (YOW) coverage is equal to earnings at or above $10,875 in 2017 (reflecting a full-time worker earning the federal minimum wage), adjusted thereafter for wage growth. (b) At implementation, set the minimum PIA at zero percent of AWI for those with 10 or fewer YOWs to 15 percent of AWI for those with 15 YOWs, increasing linearly so that it reaches 19 percent for 19 YOWs. Then the minimum PIA would jump up to 25 percent of AWI for those with 20 YOWs, increasing linearly so that it equals 35 percent of AWI for those with 35 or more YOWs. (c) Use the AWI for two years prior to the year of initial eligibility in the minimum PIA calculation with COLA increase after the year of initial eligibility. (d) Scale the YOW requirements for disabled workers, based on the number of years of non-disabled potential work.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200200
2024183183
2025165165
2026149148
2027132132
2028115115
20299897
20308180
20316462
20324644
20332725
203486
2035-11-14
2036-30-34
2037-50-54
2038-71-75
2039-91-96
2040-112-118
2041-133-140
2042-154-162
2043-176-184
2044-197-206
2045-218-229
2046-240-251
2047-262-274
2048-283-297
2049-305-320
2050-327-343
2051-349-366
2052-371-389
2053-393-413
2054-415-436
2055-437-460
2056-460-484
2057-482-508
2058-506-533
2059-529-558
2060-553-584
2061-578-610
2062-603-637
2063-628-664
2064-654-691
2065-680-719
2066-706-748
2067-733-776
2068-760-805
2069-788-835
2070-816-865
2071-845-896
2072-874-927
2073-905-960
2074-935-992
2075-967-1026
2076-1000-1061
2077-1033-1097
2078-1068-1134
2079-1102-1171
2080-1138-1208
2081-1173-1246
2082-1208-1284
2083-1243-1321
2084-1279-1359
2085-1314-1396
2086-1349-1434
2087-1384-1471
2088-1419-1509
2089-1455-1547
2090-1491-1586
2091-1528-1625
back