Proposed Provision: Increase the PIA to a level such that a worker with 30 years of earnings at the minimum wage level would receive an adjusted PIA equal to 120 percent of the Federal poverty level for an aged individual. This provision would take full effect for all newly eligible OASDI workers in 2028, and would be phased in for new eligible in 2019 through 2027. The percentage increase in PIA would be 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 would be 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
2010355355
2011353353
2012350350
2013346346
2014341341
2015335335
2016330330
2017324324
2018317317
2019309309
2020299299
2021289289
2022277277
2023264264
2024251251
2025237236
2026221221
2027205205
2028189188
2029171170
2030154152
2031136134
2032117115
20339896
20347976
20355956
20363936
20371916
2038-1-5
2039-21-26
2040-42-46
2041-63-68
2042-84-89
2043-105-110
2044-126-131
2045-147-153
2046-168-174
2047-189-196
2048-211-218
2049-233-240
2050-255-262
2051-277-284
2052-299-307
2053-321-329
2054-344-352
2055-366-375
2056-389-398
2057-412-422
2058-436-446
2059-460-470
2060-485-495
2061-509-520
2062-534-545
2063-560-571
2064-586-597
2065-612-623
2066-638-650
2067-665-677
2068-692-704
2069-720-732
2070-748-760
2071-776-789
2072-805-818
2073-834-847
2074-864-877
2075-894-907
2076-925-938
2077-957-970
2078-989-1002
2079-1021-1035
2080-1054-1068
2081-1087-1101
2082-1121-1136
2083-1156-1170
2084-1191-1206
2085-1227-1242
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