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

Year Present Law Provision
2014320320
2015306306
2016292292
2017277277
2018262262
2019248248
2020233233
2021219219
2022203203
2023187187
2024171171
2025154154
2026137137
2027119120
2028101102
20298384
20306465
20314445
20322325
203324
2034-20-17
2035-42-39
2036-65-61
2037-88-83
2038-112-105
2039-136-128
2040-160-151
2041-185-174
2042-210-197
2043-235-220
2044-260-243
2045-285-266
2046-310-289
2047-336-312
2048-362-336
2049-388-359
2050-415-382
2051-442-405
2052-468-428
2053-495-451
2054-523-474
2055-550-497
2056-578-520
2057-606-543
2058-635-566
2059-664-589
2060-694-613
2061-725-637
2062-756-661
2063-787-685
2064-819-709
2065-852-733
2066-885-758
2067-918-783
2068-952-808
2069-987-833
2070-1022-858
2071-1057-884
2072-1094-910
2073-1132-937
2074-1171-964
2075-1210-992
2076-1251-1021
2077-1293-1049
2078-1335-1078
2079-1378-1107
2080-1421-1136
2081-1464-1165
2082-1507-1193
2083-1550-1222
2084-1593-1250
2085-1636-1278
2086-1680-1306
2087-1724-1335
2088-1769-1363
2089-1814-1392
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