Proposed Provision: B1.6 (2022). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2022: 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
2018288288
2019272272
2020256256
2021239239
2022223223
2023206206
2024188188
2025171171
2026154154
2027137138
2028120121
2029104105
20308688
20316971
20325154
20333337
20341419
2035-51
2036-25-17
2037-46-36
2038-67-55
2039-88-74
2040-110-94
2041-132-113
2042-154-133
2043-176-152
2044-199-171
2045-221-190
2046-244-208
2047-267-227
2048-289-245
2049-312-263
2050-335-280
2051-358-297
2052-381-314
2053-403-331
2054-426-347
2055-450-363
2056-473-379
2057-496-394
2058-520-410
2059-544-425
2060-569-441
2061-594-456
2062-619-471
2063-645-487
2064-671-502
2065-698-518
2066-725-533
2067-752-549
2068-780-564
2069-808-580
2070-837-595
2071-866-611
2072-896-627
2073-927-643
2074-958-659
2075-990-676
2076-1023-693
2077-1057-710
2078-1092-728
2079-1128-745
2080-1165-763
2081-1202-781
2082-1240-798
2083-1278-816
2084-1316-833
2085-1354-849
2086-1392-866
2087-1430-881
2088-1468-897
2089-1505-912
2090-1543-926
2091-1580-941
2092-1618-955
2093-1655-969
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