Proposed Provision: B5.9. Beginning for those newly eligible in 2025, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 40 years of coverage equal to 125 percent of the monthly Aged Federal poverty level (about $1,462 in 2022). For those with 20 or fewer years of coverage, phase up linearly from 0 percent of the poverty level for 10 years of coverage to 100 percent of the poverty level. For those having between 20 and 40 years of coverage, phase up linearly from 100 percent of the poverty level at 20 years of coverage to 125% of the poverty level for 40 or more years of coverage. (c) For newly eligible workers in 2025 and 2026, index the applicable poverty level using the CPI index, to the year prior to eligibility. Then, for newly eligible workers in 2027 and later, index the PIA per year of coverage by wage growth for successive cohorts. (d) Disabled workers have a somewhat similar minimum benefit, with work requirements scaled based on the number of years of non-disabled potential work.

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

Year Current Law Provision
2023204204
2024187187
2025168168
2026149149
2027131131
2028114114
20299696
20307878
20316060
20324343
20332525
203476
2035-12-12
2036-31-32
2037-51-52
2038-70-72
2039-91-93
2040-112-114
2041-133-136
2042-154-158
2043-176-180
2044-198-202
2045-220-225
2046-243-248
2047-265-271
2048-288-295
2049-311-318
2050-333-342
2051-357-366
2052-380-390
2053-403-414
2054-427-439
2055-450-463
2056-474-488
2057-498-513
2058-522-538
2059-547-564
2060-572-590
2061-597-617
2062-623-644
2063-650-672
2064-677-701
2065-705-730
2066-733-759
2067-762-789
2068-791-820
2069-820-851
2070-850-882
2071-880-914
2072-911-946
2073-942-978
2074-974-1012
2075-1006-1045
2076-1039-1080
2077-1074-1116
2078-1108-1152
2079-1144-1190
2080-1181-1228
2081-1218-1267
2082-1256-1307
2083-1294-1347
2084-1333-1388
2085-1373-1429
2086-1413-1471
2087-1453-1513
2088-1494-1556
2089-1534-1598
2090-1574-1640
2091-1613-1681
2092-1651-1722
2093-1689-1761
2094-1726-1800
2095-1762-1839
2096-1798-1876
2097-1833-1914
2098-1868-1950
back