Proposed Provision: Create a new bend point at the 50th percentile of new retired and disabled worker entitlements. Beginning for those newly eligible in 2017, do the following: a) reduce the 32 percent PIA formula factor below the new bend point to 30 percent by 2050; b) reduce the 32 percent PIA factor above the new bend point to 10 percent by 2050; and c) reduce the 15 percent factor to 5 percent by 2050.