Proposed Provision: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2023: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in the SSA average wage index. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.

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

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201412.712.714.014.0
201512.912.914.014.0
201612.912.914.014.0
201712.912.914.014.0
201812.912.914.014.0
201912.912.914.114.1
202013.013.014.314.3
202113.013.014.514.5
202213.013.014.714.7
202313.013.015.015.0
202413.113.115.315.3
202513.113.115.515.5
202613.113.115.815.8
202713.113.116.016.0
202813.113.116.216.2
202913.113.116.416.4
203013.113.116.616.5
203113.213.216.716.7
203213.213.216.916.7
203313.213.217.016.8
203413.213.217.016.8
203513.213.217.116.9
203613.213.217.116.9
203713.213.217.116.8
203813.213.217.116.8
203913.213.217.116.7
204013.213.217.116.6
204113.213.217.016.5
204213.213.217.016.4
204313.213.217.016.3
204413.213.217.016.3
204513.213.216.916.2
204613.213.216.916.1
204713.213.216.916.0
204813.213.116.915.9
204913.213.116.915.8
205013.213.116.915.8
205113.213.116.915.7
205213.213.116.915.6
205313.213.116.915.6
205413.213.117.015.5
205513.213.117.015.5
205613.213.117.115.5
205713.213.117.115.4
205813.213.117.215.4
205913.213.117.215.4
206013.213.117.315.3
206113.213.117.315.3
206213.213.117.415.3
206313.213.117.415.3
206413.213.117.415.2
206513.213.117.515.2
206613.213.117.515.2
206713.313.117.615.2
206813.313.117.615.1
206913.313.117.715.1
207013.313.117.715.1
207113.313.117.815.0
207213.313.117.815.0
207313.313.117.815.0
207413.313.117.914.9
207513.313.117.914.9
207613.313.117.914.8
207713.313.117.914.8
207813.313.117.914.7
207913.313.117.914.7
208013.313.117.914.6
208113.313.117.914.6
208213.313.117.914.5
208313.313.118.014.5
208413.313.118.014.5
208513.313.118.014.4
208613.313.118.114.4
208713.313.118.114.4
208813.313.118.214.4
208913.313.118.214.4
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