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 2025 through 2034. 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 Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
201812.612.613.813.8
201912.912.914.014.0
202012.912.914.114.1
202112.912.914.314.3
202212.912.914.414.4
202313.013.014.614.6
202413.013.014.814.8
202513.013.015.015.0
202613.113.115.215.2
202713.213.215.415.4
202813.213.215.615.6
202913.213.215.815.8
203013.213.216.016.0
203113.213.216.216.2
203213.213.216.316.3
203313.213.216.516.4
203413.213.216.616.6
203513.313.316.716.6
203613.313.316.716.7
203713.313.316.816.8
203813.313.316.816.8
203913.313.316.816.8
204013.313.316.816.8
204113.313.316.816.8
204213.313.316.816.7
204313.313.316.716.7
204413.313.316.716.7
204513.313.316.716.6
204613.313.316.616.6
204713.313.316.616.5
204813.313.316.616.5
204913.313.316.616.5
205013.313.316.516.5
205113.313.316.516.5
205213.313.316.516.5
205313.313.316.516.5
205413.313.316.616.5
205513.313.316.616.5
205613.313.316.616.5
205713.313.316.716.6
205813.313.316.716.6
205913.313.316.816.7
206013.313.316.816.7
206113.313.316.916.8
206213.313.316.916.8
206313.313.317.016.9
206413.313.317.016.9
206513.313.317.117.0
206613.313.317.117.0
206713.313.317.217.1
206813.313.317.217.2
206913.313.317.317.2
207013.313.317.417.3
207113.313.317.417.3
207213.313.317.517.4
207313.313.317.517.4
207413.313.317.617.5
207513.413.317.617.5
207613.413.317.617.5
207713.413.417.617.5
207813.413.417.617.5
207913.413.417.617.5
208013.413.417.617.5
208113.413.317.617.5
208213.413.317.617.5
208313.413.317.617.5
208413.413.317.517.4
208513.413.317.517.4
208613.413.317.517.4
208713.413.317.517.4
208813.413.317.517.5
208913.413.317.617.5
209013.413.317.617.5
209113.413.417.617.5
209213.413.417.717.6
209313.413.417.717.6
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