Proposed Provision: B1.6 (2024). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2024: 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 |
| 2020 | 261 | 261 |
| 2021 | 248 | 248 |
| 2022 | 233 | 233 |
| 2023 | 217 | 217 |
| 2024 | 200 | 200 |
| 2025 | 183 | 183 |
| 2026 | 165 | 165 |
| 2027 | 148 | 148 |
| 2028 | 130 | 130 |
| 2029 | 112 | 112 |
| 2030 | 94 | 94 |
| 2031 | 76 | 77 |
| 2032 | 58 | 59 |
| 2033 | 39 | 41 |
| 2034 | 20 | 22 |
| 2035 | 1 | 4 |
| 2036 | -19 | -15 |
| 2037 | -38 | -34 |
| 2038 | -59 | -54 |
| 2039 | -80 | -73 |
| 2040 | -101 | -93 |
| 2041 | -122 | -113 |
| 2042 | -144 | -133 |
| 2043 | -166 | -153 |
| 2044 | -188 | -173 |
| 2045 | -210 | -193 |
| 2046 | -232 | -212 |
| 2047 | -255 | -232 |
| 2048 | -277 | -251 |
| 2049 | -299 | -271 |
| 2050 | -322 | -289 |
| 2051 | -344 | -308 |
| 2052 | -367 | -327 |
| 2053 | -389 | -345 |
| 2054 | -412 | -363 |
| 2055 | -434 | -381 |
| 2056 | -457 | -398 |
| 2057 | -480 | -416 |
| 2058 | -504 | -433 |
| 2059 | -527 | -451 |
| 2060 | -551 | -468 |
| 2061 | -575 | -485 |
| 2062 | -599 | -502 |
| 2063 | -624 | -520 |
| 2064 | -650 | -537 |
| 2065 | -676 | -555 |
| 2066 | -702 | -572 |
| 2067 | -728 | -590 |
| 2068 | -755 | -608 |
| 2069 | -782 | -626 |
| 2070 | -809 | -643 |
| 2071 | -837 | -661 |
| 2072 | -866 | -680 |
| 2073 | -895 | -698 |
| 2074 | -925 | -717 |
| 2075 | -955 | -736 |
| 2076 | -986 | -755 |
| 2077 | -1018 | -775 |
| 2078 | -1051 | -795 |
| 2079 | -1084 | -815 |
| 2080 | -1119 | -836 |
| 2081 | -1154 | -856 |
| 2082 | -1190 | -877 |
| 2083 | -1226 | -898 |
| 2084 | -1263 | -919 |
| 2085 | -1300 | -939 |
| 2086 | -1337 | -959 |
| 2087 | -1374 | -979 |
| 2088 | -1411 | -999 |
| 2089 | -1448 | -1017 |
| 2090 | -1484 | -1035 |
| 2091 | -1520 | -1053 |
| 2092 | -1554 | -1069 |
| 2093 | -1589 | -1085 |
| 2094 | -1623 | -1101 |
| 2095 | -1657 | -1116 |
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