Proposed Provision: Progressive price indexing (50th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2022: Create a new bend point at the 50th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 50th percentile and below. Reduce the 32 and 15 percent factors above the 50th 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
2015308308
2016298298
2017280280
2018264264
2019248248
2020233233
2021219219
2022204204
2023189189
2024173173
2025157158
2026142142
2027126127
2028110111
20299495
20307779
20316062
20324245
20332327
203448
2035-16-11
2036-36-30
2037-57-49
2038-78-69
2039-100-89
2040-122-109
2041-144-129
2042-166-149
2043-189-170
2044-211-190
2045-234-210
2046-257-230
2047-280-250
2048-303-270
2049-327-290
2050-351-310
2051-375-330
2052-398-350
2053-423-370
2054-447-389
2055-472-409
2056-496-429
2057-522-449
2058-548-469
2059-574-489
2060-601-510
2061-629-531
2062-657-552
2063-685-573
2064-714-595
2065-744-617
2066-774-639
2067-804-661
2068-835-683
2069-867-706
2070-899-729
2071-932-753
2072-965-777
2073-1000-801
2074-1035-826
2075-1072-851
2076-1110-877
2077-1148-904
2078-1188-931
2079-1228-958
2080-1268-985
2081-1309-1012
2082-1350-1039
2083-1391-1065
2084-1432-1092
2085-1472-1118
2086-1514-1144
2087-1555-1170
2088-1597-1197
2089-1640-1223
2090-1683-1251
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