Proposed Provision: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI 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.

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

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200200
2024183183
2025165166
2026149149
2027132132
2028115116
20299899
20308182
20316466
20324648
20332731
2034813
2035-11-5
2036-30-23
2037-50-41
2038-71-60
2039-91-79
2040-112-97
2041-133-116
2042-154-135
2043-176-153
2044-197-171
2045-218-189
2046-240-207
2047-262-224
2048-283-241
2049-305-258
2050-327-275
2051-349-291
2052-371-307
2053-393-323
2054-415-338
2055-437-353
2056-460-368
2057-482-383
2058-506-398
2059-529-413
2060-553-427
2061-578-442
2062-603-456
2063-628-471
2064-654-485
2065-680-500
2066-706-514
2067-733-528
2068-760-542
2069-788-556
2070-816-571
2071-845-585
2072-874-599
2073-905-613
2074-935-628
2075-967-643
2076-1000-658
2077-1033-673
2078-1068-688
2079-1102-703
2080-1138-718
2081-1173-732
2082-1208-746
2083-1243-760
2084-1279-773
2085-1314-786
2086-1349-798
2087-1384-810
2088-1419-822
2089-1455-833
2090-1491-845
2091-1528-857
back