Proposed Provision: B1.2. Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2024: 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 |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 287 |
| 2019 | 273 | 273 |
| 2020 | 259 | 259 |
| 2021 | 245 | 245 |
| 2022 | 230 | 230 |
| 2023 | 215 | 215 |
| 2024 | 199 | 199 |
| 2025 | 182 | 182 |
| 2026 | 165 | 165 |
| 2027 | 148 | 148 |
| 2028 | 130 | 130 |
| 2029 | 112 | 113 |
| 2030 | 94 | 95 |
| 2031 | 75 | 77 |
| 2032 | 56 | 58 |
| 2033 | 37 | 39 |
| 2034 | 16 | 19 |
| 2035 | -4 | -1 |
| 2036 | -26 | -21 |
| 2037 | -47 | -42 |
| 2038 | -70 | -63 |
| 2039 | -92 | -84 |
| 2040 | -115 | -105 |
| 2041 | -138 | -126 |
| 2042 | -161 | -147 |
| 2043 | -184 | -168 |
| 2044 | -207 | -189 |
| 2045 | -230 | -209 |
| 2046 | -253 | -230 |
| 2047 | -276 | -250 |
| 2048 | -300 | -270 |
| 2049 | -323 | -289 |
| 2050 | -346 | -308 |
| 2051 | -370 | -328 |
| 2052 | -393 | -346 |
| 2053 | -417 | -364 |
| 2054 | -440 | -382 |
| 2055 | -464 | -400 |
| 2056 | -487 | -418 |
| 2057 | -511 | -435 |
| 2058 | -536 | -453 |
| 2059 | -560 | -470 |
| 2060 | -585 | -487 |
| 2061 | -611 | -504 |
| 2062 | -637 | -521 |
| 2063 | -663 | -538 |
| 2064 | -690 | -555 |
| 2065 | -717 | -572 |
| 2066 | -745 | -589 |
| 2067 | -772 | -606 |
| 2068 | -801 | -623 |
| 2069 | -829 | -640 |
| 2070 | -858 | -657 |
| 2071 | -888 | -674 |
| 2072 | -918 | -691 |
| 2073 | -949 | -708 |
| 2074 | -981 | -725 |
| 2075 | -1014 | -743 |
| 2076 | -1047 | -761 |
| 2077 | -1082 | -779 |
| 2078 | -1117 | -797 |
| 2079 | -1153 | -816 |
| 2080 | -1190 | -834 |
| 2081 | -1227 | -852 |
| 2082 | -1264 | -869 |
| 2083 | -1300 | -887 |
| 2084 | -1337 | -903 |
| 2085 | -1374 | -919 |
| 2086 | -1410 | -935 |
| 2087 | -1446 | -950 |
| 2088 | -1483 | -965 |
| 2089 | -1520 | -980 |
| 2090 | -1557 | -995 |
| 2091 | -1595 | -1010 |
| 2092 | -1633 | -1024 |
back