Proposed Provision: B1.6 (2022). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2022: 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2018 | 288 | 288 |
| 2019 | 272 | 272 |
| 2020 | 256 | 256 |
| 2021 | 239 | 239 |
| 2022 | 223 | 223 |
| 2023 | 206 | 206 |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 154 | 154 |
| 2027 | 137 | 138 |
| 2028 | 120 | 121 |
| 2029 | 104 | 105 |
| 2030 | 86 | 88 |
| 2031 | 69 | 71 |
| 2032 | 51 | 54 |
| 2033 | 33 | 37 |
| 2034 | 14 | 19 |
| 2035 | -5 | 1 |
| 2036 | -25 | -17 |
| 2037 | -46 | -36 |
| 2038 | -67 | -55 |
| 2039 | -88 | -74 |
| 2040 | -110 | -94 |
| 2041 | -132 | -113 |
| 2042 | -154 | -133 |
| 2043 | -176 | -152 |
| 2044 | -199 | -171 |
| 2045 | -221 | -190 |
| 2046 | -244 | -208 |
| 2047 | -267 | -227 |
| 2048 | -289 | -245 |
| 2049 | -312 | -263 |
| 2050 | -335 | -280 |
| 2051 | -358 | -297 |
| 2052 | -381 | -314 |
| 2053 | -403 | -331 |
| 2054 | -426 | -347 |
| 2055 | -450 | -363 |
| 2056 | -473 | -379 |
| 2057 | -496 | -394 |
| 2058 | -520 | -410 |
| 2059 | -544 | -425 |
| 2060 | -569 | -441 |
| 2061 | -594 | -456 |
| 2062 | -619 | -471 |
| 2063 | -645 | -487 |
| 2064 | -671 | -502 |
| 2065 | -698 | -518 |
| 2066 | -725 | -533 |
| 2067 | -752 | -549 |
| 2068 | -780 | -564 |
| 2069 | -808 | -580 |
| 2070 | -837 | -595 |
| 2071 | -866 | -611 |
| 2072 | -896 | -627 |
| 2073 | -927 | -643 |
| 2074 | -958 | -659 |
| 2075 | -990 | -676 |
| 2076 | -1023 | -693 |
| 2077 | -1057 | -710 |
| 2078 | -1092 | -728 |
| 2079 | -1128 | -745 |
| 2080 | -1165 | -763 |
| 2081 | -1202 | -781 |
| 2082 | -1240 | -798 |
| 2083 | -1278 | -816 |
| 2084 | -1316 | -833 |
| 2085 | -1354 | -849 |
| 2086 | -1392 | -866 |
| 2087 | -1430 | -881 |
| 2088 | -1468 | -897 |
| 2089 | -1505 | -912 |
| 2090 | -1543 | -926 |
| 2091 | -1580 | -941 |
| 2092 | -1618 | -955 |
| 2093 | -1655 | -969 |
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