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 2026 through 2035. 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 |
Current Law |
Provision |
| 2019 | 273 | 273 |
| 2020 | 260 | 260 |
| 2021 | 245 | 245 |
| 2022 | 229 | 229 |
| 2023 | 213 | 213 |
| 2024 | 197 | 197 |
| 2025 | 180 | 180 |
| 2026 | 163 | 163 |
| 2027 | 147 | 147 |
| 2028 | 130 | 130 |
| 2029 | 114 | 114 |
| 2030 | 97 | 97 |
| 2031 | 80 | 80 |
| 2032 | 63 | 63 |
| 2033 | 46 | 46 |
| 2034 | 28 | 28 |
| 2035 | 10 | 10 |
| 2036 | -9 | -9 |
| 2037 | -28 | -28 |
| 2038 | -47 | -47 |
| 2039 | -67 | -67 |
| 2040 | -87 | -87 |
| 2041 | -108 | -107 |
| 2042 | -129 | -128 |
| 2043 | -150 | -149 |
| 2044 | -171 | -170 |
| 2045 | -192 | -191 |
| 2046 | -213 | -211 |
| 2047 | -234 | -232 |
| 2048 | -255 | -253 |
| 2049 | -276 | -274 |
| 2050 | -297 | -294 |
| 2051 | -318 | -315 |
| 2052 | -338 | -336 |
| 2053 | -359 | -356 |
| 2054 | -380 | -377 |
| 2055 | -401 | -398 |
| 2056 | -422 | -419 |
| 2057 | -444 | -440 |
| 2058 | -465 | -461 |
| 2059 | -487 | -482 |
| 2060 | -509 | -504 |
| 2061 | -531 | -526 |
| 2062 | -554 | -548 |
| 2063 | -577 | -571 |
| 2064 | -601 | -594 |
| 2065 | -625 | -618 |
| 2066 | -649 | -642 |
| 2067 | -674 | -666 |
| 2068 | -699 | -690 |
| 2069 | -724 | -715 |
| 2070 | -749 | -740 |
| 2071 | -776 | -766 |
| 2072 | -802 | -792 |
| 2073 | -830 | -819 |
| 2074 | -857 | -846 |
| 2075 | -885 | -874 |
| 2076 | -914 | -903 |
| 2077 | -944 | -932 |
| 2078 | -975 | -963 |
| 2079 | -1007 | -994 |
| 2080 | -1039 | -1026 |
| 2081 | -1072 | -1058 |
| 2082 | -1106 | -1091 |
| 2083 | -1139 | -1124 |
| 2084 | -1173 | -1158 |
| 2085 | -1207 | -1191 |
| 2086 | -1242 | -1225 |
| 2087 | -1275 | -1258 |
| 2088 | -1309 | -1291 |
| 2089 | -1342 | -1324 |
| 2090 | -1375 | -1356 |
| 2091 | -1407 | -1388 |
| 2092 | -1439 | -1419 |
| 2093 | -1471 | -1451 |
| 2094 | -1503 | -1482 |
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