Proposed Provision: Progressive indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2019, continuing through 2028, and resuming in 2067: 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
2037-50-36
2038-71-54
2039-91-73
2040-112-91
2041-133-110
2042-154-128
2043-176-147
2044-197-165
2045-218-183
2046-240-202
2047-262-220
2048-283-238
2049-305-256
2050-327-274
2051-349-292
2052-371-310
2053-393-328
2054-415-346
2055-437-364
2056-460-382
2057-482-401
2058-506-419
2059-529-439
2060-553-458
2061-578-478
2062-603-498
2063-628-518
2064-654-539
2065-680-561
2066-706-582
2067-733-604
2068-760-627
2069-788-649
2070-816-673
2071-845-697
2072-874-721
2073-905-746
2074-935-773
2075-967-800
2076-1000-828
2077-1033-856
2078-1068-886
2079-1102-916
2080-1138-946
2081-1173-977
2082-1208-1008
2083-1243-1039
2084-1279-1070
2085-1314-1101
2086-1349-1132
2087-1384-1163
2088-1419-1195
2089-1455-1226
2090-1491-1259
2091-1528-1292
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