Proposed Provision: D4. Establish an alternative benefit for a surviving spouse. For the surviving spouse, the alternative benefit would equal 75 percent of the sum of the survivor's own worker benefit and the deceased worker's PIA (including any actuarial reductions or delayed retirement credits). If the deceased worker died before becoming entitled, use the age 62 actuarial reduction if deceased before age 62, or the applicable actuarial reduction/DRC for entitlement at the age of death if deceased after 62. The alternative benefit would not exceed the PIA of a hypothetical earner who earns the SSA average wage index (AWI) every year, and who becomes eligible for retired-worker benefits in the same year in which the deceased worker became entitled to worker benefits or died (if before entitlement). The alternative benefit would be paid only if more than the current-law benefit. This benefit would be available to surviving spouses on the rolls at the beginning of 2024 and those becoming eligible after 2023.

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

Year Current Law Provision
2022230230
2023211211
2024194193
2025177175
2026160157
2027143140
2028126122
2029109105
20309187
20317470
20325752
20333934
20342115
20353-3
2036-16-23
2037-35-42
2038-54-63
2039-74-83
2040-95-104
2041-116-126
2042-137-147
2043-158-169
2044-180-191
2045-202-214
2046-224-236
2047-246-259
2048-268-282
2049-291-305
2050-313-328
2051-336-352
2052-359-376
2053-383-399
2054-406-423
2055-430-447
2056-453-472
2057-477-496
2058-501-520
2059-525-545
2060-550-571
2061-575-596
2062-601-622
2063-627-649
2064-654-676
2065-681-704
2066-708-732
2067-736-760
2068-764-789
2069-792-818
2070-821-847
2071-850-877
2072-880-907
2073-910-937
2074-940-968
2075-971-1000
2076-1003-1032
2077-1036-1066
2078-1069-1100
2079-1104-1135
2080-1139-1171
2081-1175-1208
2082-1212-1245
2083-1249-1283
2084-1286-1321
2085-1324-1360
2086-1363-1400
2087-1402-1440
2088-1442-1480
2089-1481-1520
2090-1520-1559
2091-1558-1598
2092-1595-1637
2093-1632-1674
2094-1668-1711
2095-1703-1747
2096-1738-1783
2097-1773-1818
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