Proposed Provision: Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in 2015. Create new bend point at the 30th percentile of earners. Maintain current-law benefits for earners at the 30th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit grows by inflation rather than the growth in average wages.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
200812.812.811.211.2
200912.812.811.311.3
201012.812.811.411.4
201112.812.811.511.5
201212.912.911.811.8
201312.912.912.012.0
201412.912.912.312.3
201512.912.912.612.6
201613.013.012.912.9
201713.013.013.213.2
201813.013.013.513.5
201913.013.013.813.8
202013.013.014.114.1
202113.113.114.414.3
202213.113.114.714.5
202313.113.114.914.8
202413.113.115.215.0
202513.113.115.415.2
202613.113.115.715.3
202713.213.115.915.5
202813.213.116.115.6
202913.213.216.215.7
203013.213.216.415.8
203113.213.216.515.9
203213.213.216.716.0
203313.213.216.716.0
203413.213.216.816.0
203513.213.216.815.9
203613.213.216.915.9
203713.213.216.915.8
203813.213.216.915.7
203913.213.216.815.6
204013.213.216.815.5
204113.213.216.815.4
204213.213.216.715.3
204313.213.216.715.2
204413.213.216.715.1
204513.213.116.615.0
204613.213.116.614.9
204713.213.116.614.8
204813.213.116.514.7
204913.213.116.514.6
205013.213.116.514.5
205113.213.116.514.4
205213.213.116.514.4
205313.213.116.514.3
205413.213.116.514.2
205513.213.116.614.2
205613.213.116.614.1
205713.213.116.614.1
205813.213.116.614.0
205913.213.116.714.0
206013.213.116.713.9
206113.213.116.713.9
206213.213.116.713.8
206313.313.116.813.8
206413.313.116.813.7
206513.313.116.813.7
206613.313.116.913.6
206713.313.116.913.6
206813.313.116.913.6
206913.313.116.913.5
207013.313.117.013.5
207113.313.117.013.5
207213.313.117.113.4
207313.313.117.113.4
207413.313.117.113.4
207513.313.117.213.3
207613.313.117.213.3
207713.313.117.313.3
207813.313.117.313.2
207913.313.117.413.2
208013.313.117.413.2
208113.313.117.513.2
208213.313.117.513.1
208313.313.117.513.1
208413.313.117.613.1
208513.313.117.613.1
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