Proposed Provision: Increase the PIA to a level such that a worker with 30 years of earnings at the minimum wage level receives an adjusted PIA equal to 120 percent of the Federal poverty level for an aged individual. This provision takes full effect for all newly eligible OASDI workers in 2029, and is phased in for new eligibles in 2020 through 2028. The percentage increase in PIA is lowered proportionately for those with fewer than 30 years of earnings, down to no enhancement for workers with 20 or fewer years of earnings. (Year-of-work requirements are scaled for disabled workers based on their years of potential work from age 22 to benefit eligibility). The benefit enhancement percentage is reduced proportionately for workers with higher average indexed monthly earnings (AIME), down to no enhancement for those with AIME at least twice that of a 35-year steady minimum wage earner.

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

Year Present Law Provision
2011353353
2012347347
2013341341
2014334334
2015328328
2016321321
2017314314
2018306306
2019296296
2020284284
2021272272
2022259259
2023245245
2024230230
2025214214
2026198198
2027181181
2028164163
2029145145
2030127125
2031107106
20328786
20336765
20344644
20352523
203641
2037-18-21
2038-40-43
2039-62-65
2040-85-88
2041-108-111
2042-130-134
2043-153-157
2044-176-180
2045-200-204
2046-223-227
2047-247-251
2048-271-275
2049-295-299
2050-319-324
2051-343-348
2052-368-373
2053-393-398
2054-418-423
2055-443-449
2056-468-474
2057-494-500
2058-521-527
2059-548-554
2060-575-581
2061-602-609
2062-630-637
2063-659-666
2064-687-695
2065-716-724
2066-746-753
2067-775-783
2068-805-813
2069-835-843
2070-866-874
2071-897-905
2072-928-936
2073-960-968
2074-992-1000
2075-1025-1033
2076-1058-1067
2077-1092-1101
2078-1126-1135
2079-1161-1170
2080-1196-1205
2081-1232-1241
2082-1268-1278
2083-1305-1314
2084-1342-1352
2085-1380-1390
2086-1419-1428
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