Proposed Provision: B1.6 (2023). 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. 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
2019273273
2020260260
2021245245
2022229229
2023213213
2024197197
2025180180
2026163164
2027147147
2028130131
2029114114
20309798
20318082
20326365
20334648
20342831
20351014
2036-9-3
2037-28-21
2038-47-39
2039-67-57
2040-87-76
2041-108-94
2042-129-112
2043-150-131
2044-171-149
2045-192-167
2046-213-184
2047-234-202
2048-255-219
2049-276-235
2050-297-251
2051-318-267
2052-338-283
2053-359-298
2054-380-313
2055-401-328
2056-422-342
2057-444-356
2058-465-370
2059-487-384
2060-509-398
2061-531-411
2062-554-425
2063-577-438
2064-601-452
2065-625-466
2066-649-479
2067-674-493
2068-699-506
2069-724-520
2070-749-533
2071-776-547
2072-802-560
2073-830-574
2074-857-588
2075-885-602
2076-914-616
2077-944-630
2078-975-645
2079-1007-660
2080-1039-674
2081-1072-689
2082-1106-704
2083-1139-718
2084-1173-732
2085-1207-745
2086-1242-759
2087-1275-771
2088-1309-783
2089-1342-795
2090-1375-805
2091-1407-816
2092-1439-826
2093-1471-835
2094-1503-845
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