Proposed Provision: Progressive indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2019, continuing through 2056, and resuming in 2077: 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 is reduced by 1.21 percent per year as compared to current law (for the years that progressive indexing applies). 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
2016303303
2017293293
2018277277
2019262262
2020246246
2021231232
2022216216
2023200200
2024183183
2025165166
2026149150
2027132134
2028115117
202998101
20308185
20316469
20324652
20332735
2034817
2035-110
2036-30-18
2037-50-35
2038-71-54
2039-91-72
2040-112-90
2041-133-108
2042-154-126
2043-176-144
2044-197-161
2045-218-178
2046-240-196
2047-262-213
2048-283-229
2049-305-246
2050-327-262
2051-349-278
2052-371-294
2053-393-309
2054-415-324
2055-437-339
2056-460-354
2057-482-369
2058-506-383
2059-529-398
2060-553-413
2061-578-428
2062-603-442
2063-628-457
2064-654-472
2065-680-486
2066-706-501
2067-733-515
2068-760-530
2069-788-545
2070-816-559
2071-845-574
2072-874-589
2073-905-605
2074-935-620
2075-967-636
2076-1000-653
2077-1033-670
2078-1068-686
2079-1102-704
2080-1138-721
2081-1173-738
2082-1208-755
2083-1243-772
2084-1279-788
2085-1314-805
2086-1349-822
2087-1384-839
2088-1419-856
2089-1455-874
2090-1491-892
2091-1528-910
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