Proposed Provision: Starting in 2023, provide a uniform PIA increase 23 years after benefit eligibility. Phase in the PIA increase at 0.5 percent per year from the 14th through the 23rd years after eligibility. The full PIA increase is equal to 5 percent of the average retired worker PIA in December of the 12th year after benefit eligibility. A similar additional PIA increase applies 42 years after benefit eligibility (age 104), phased in from the 33rd through the 42nd years after eligibility. For those past the 14th year of eligibility in 2023 (over age 76 for retirees), phase in the PIA enhancement over 10 years starting in 2023. Auxiliary beneficiaries receive benefit enhancement based on the PIA of the governing worker.

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

Year Present Law Provision
2016303303
2017293293
2018277277
2019262262
2020246246
2021231231
2022216216
2023200199
2024183182
2025165164
2026149147
2027132129
2028115112
20299894
20308176
20316458
20324639
20332719
203480
2035-11-21
2036-30-41
2037-50-62
2038-71-84
2039-91-106
2040-112-128
2041-133-150
2042-154-172
2043-176-195
2044-197-218
2045-218-240
2046-240-263
2047-262-287
2048-283-310
2049-305-333
2050-327-356
2051-349-380
2052-371-403
2053-393-427
2054-415-450
2055-437-474
2056-460-498
2057-482-522
2058-506-547
2059-529-572
2060-553-598
2061-578-623
2062-603-650
2063-628-677
2064-654-704
2065-680-731
2066-706-759
2067-733-788
2068-760-817
2069-788-846
2070-816-875
2071-845-906
2072-874-937
2073-905-968
2074-935-1001
2075-967-1034
2076-1000-1069
2077-1033-1104
2078-1068-1140
2079-1102-1177
2080-1138-1214
2081-1173-1251
2082-1208-1289
2083-1243-1326
2084-1279-1363
2085-1314-1400
2086-1349-1437
2087-1384-1474
2088-1419-1512
2089-1455-1549
2090-1491-1588
2091-1528-1626
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