Proposed Provision: B5.9. Beginning for those newly eligible in 2020, 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 40 years of coverage equal to 125 percent of the monthly Aged Federal poverty level (about $1,225 in 2017). For those with 20 or fewer years of coverage, phase up linearly from 0 percent of the poverty level for 10 years of coverage to 100 percent of the poverty level. For those having between 20 and 40 years of coverage, phase up linearly from 100 percent of the poverty level at 20 years of coverage to 125% of the poverty level for 40 or more years of coverage. (c) For newly eligible workers in 2020 and 2021, index the applicable poverty level using the CPI index, to the year prior to eligibility. Then, for newly eligible workers in 2022 and later, index the PIA per year of coverage by wage growth for successive cohorts. (d) Disabled workers have a somewhat similar minimum benefit, with work requirements scaled based on the number of years of non-disabled potential work.

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

Year Current Law Provision
2018288288
2019272272
2020256256
2021239239
2022223223
2023206206
2024188188
2025171171
2026154154
2027137137
2028120120
2029104103
20308686
20316968
20325150
20333331
20341412
2035-5-8
2036-25-28
2037-46-49
2038-67-71
2039-88-92
2040-110-115
2041-132-137
2042-154-160
2043-176-183
2044-199-207
2045-221-230
2046-244-253
2047-267-277
2048-289-300
2049-312-324
2050-335-347
2051-358-371
2052-381-395
2053-403-419
2054-426-443
2055-450-467
2056-473-491
2057-496-516
2058-520-541
2059-544-566
2060-569-592
2061-594-618
2062-619-645
2063-645-672
2064-671-699
2065-698-727
2066-725-756
2067-752-784
2068-780-814
2069-808-843
2070-837-873
2071-866-904
2072-896-935
2073-927-967
2074-958-1000
2075-990-1033
2076-1023-1068
2077-1057-1103
2078-1092-1140
2079-1128-1178
2080-1165-1216
2081-1202-1255
2082-1240-1294
2083-1278-1334
2084-1316-1374
2085-1354-1414
2086-1392-1454
2087-1430-1494
2088-1468-1533
2089-1505-1573
2090-1543-1612
2091-1580-1651
2092-1618-1690
2093-1655-1730
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