Proposed Provision: B5.3. Beginning for those newly eligible in 2021, reconfigure the special minimum benefit: (a) A year of coverage is defined to be either a year in which 4 quarters of coverage are earned or a child is in care. Childcare years are granted to parents who have a child under 5, with a limit of 8 such years. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,301 in 2019). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,301/20 = $65.05. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

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

Year Current Law Provision
2020261261
2021248248
2022233233
2023217216
2024200199
2025183182
2026165164
2027148146
2028130128
2029112110
20309491
20317673
20325854
20333935
20342015
20351-4
2036-19-25
2037-38-45
2038-59-66
2039-80-88
2040-101-110
2041-122-132
2042-144-155
2043-166-177
2044-188-201
2045-210-224
2046-232-247
2047-255-271
2048-277-294
2049-299-318
2050-322-341
2051-344-365
2052-367-388
2053-389-412
2054-412-436
2055-434-460
2056-457-484
2057-480-509
2058-504-534
2059-527-558
2060-551-584
2061-575-609
2062-599-635
2063-624-662
2064-650-688
2065-676-716
2066-702-743
2067-728-771
2068-755-800
2069-782-828
2070-809-857
2071-837-887
2072-866-917
2073-895-948
2074-925-979
2075-955-1011
2076-986-1044
2077-1018-1077
2078-1051-1112
2079-1084-1147
2080-1119-1184
2081-1154-1221
2082-1190-1259
2083-1226-1297
2084-1263-1335
2085-1300-1375
2086-1337-1414
2087-1374-1453
2088-1411-1492
2089-1448-1531
2090-1484-1569
2091-1520-1607
2092-1554-1644
2093-1589-1680
2094-1623-1716
2095-1657-1751
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