Proposed Provision: B1.6 (2021). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2021: 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. 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.
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 | 183 |
| 2026 | 165 | 166 |
| 2027 | 148 | 149 |
| 2028 | 130 | 132 |
| 2029 | 112 | 114 |
| 2030 | 94 | 97 |
| 2031 | 75 | 79 |
| 2032 | 56 | 61 |
| 2033 | 37 | 42 |
| 2034 | 16 | 23 |
| 2035 | -4 | 4 |
| 2036 | -26 | -16 |
| 2037 | -47 | -36 |
| 2038 | -70 | -56 |
| 2039 | -92 | -76 |
| 2040 | -115 | -97 |
| 2041 | -138 | -117 |
| 2042 | -161 | -137 |
| 2043 | -184 | -157 |
| 2044 | -207 | -177 |
| 2045 | -230 | -196 |
| 2046 | -253 | -216 |
| 2047 | -276 | -235 |
| 2048 | -300 | -253 |
| 2049 | -323 | -272 |
| 2050 | -346 | -290 |
| 2051 | -370 | -308 |
| 2052 | -393 | -326 |
| 2053 | -417 | -343 |
| 2054 | -440 | -360 |
| 2055 | -464 | -376 |
| 2056 | -487 | -393 |
| 2057 | -511 | -409 |
| 2058 | -536 | -426 |
| 2059 | -560 | -442 |
| 2060 | -585 | -458 |
| 2061 | -611 | -475 |
| 2062 | -637 | -491 |
| 2063 | -663 | -507 |
| 2064 | -690 | -524 |
| 2065 | -717 | -540 |
| 2066 | -745 | -556 |
| 2067 | -772 | -573 |
| 2068 | -801 | -589 |
| 2069 | -829 | -605 |
| 2070 | -858 | -622 |
| 2071 | -888 | -638 |
| 2072 | -918 | -655 |
| 2073 | -949 | -672 |
| 2074 | -981 | -689 |
| 2075 | -1014 | -706 |
| 2076 | -1047 | -724 |
| 2077 | -1082 | -742 |
| 2078 | -1117 | -760 |
| 2079 | -1153 | -779 |
| 2080 | -1190 | -797 |
| 2081 | -1227 | -815 |
| 2082 | -1264 | -832 |
| 2083 | -1300 | -850 |
| 2084 | -1337 | -867 |
| 2085 | -1374 | -883 |
| 2086 | -1410 | -899 |
| 2087 | -1446 | -915 |
| 2088 | -1483 | -931 |
| 2089 | -1520 | -947 |
| 2090 | -1557 | -962 |
| 2091 | -1595 | -978 |
| 2092 | -1633 | -994 |
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