Proposed Provision: Beginning in 2015, apply 4 percent payroll tax rate on earnings above $400,000 in 2015, with the threshold wage-indexed after 2015. Provide benefit credit for additional earnings taxed, using a secondary PIA formula. This secondary PIA formula involves: (1) an AIME+ derived from annual earnings taxed only between $400,000 and $500,000 (with thresholds wage-indexed after 2015); and (2) a formula factor of 2 percent on this newly computed AIME+.

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

Year Present Law Provision
2013330330
2014315315
2015301301
2016286288
2017271275
2018257264
2019244253
2020231242
2021218230
2022204218
2023189205
2024173192
2025158178
2026142164
2027125149
2028108134
202990118
203071101
20315284
20323166
20331147
2034-1128
2035-328
2036-55-12
2037-78-32
2038-101-53
2039-124-74
2040-148-95
2041-172-116
2042-196-138
2043-220-160
2044-245-181
2045-269-203
2046-294-225
2047-319-248
2048-345-270
2049-371-293
2050-397-316
2051-423-339
2052-449-363
2053-476-386
2054-502-410
2055-530-434
2056-557-459
2057-585-483
2058-613-509
2059-642-535
2060-671-561
2061-701-588
2062-732-615
2063-763-643
2064-794-671
2065-826-700
2066-859-729
2067-892-758
2068-925-788
2069-959-819
2070-993-850
2071-1028-882
2072-1064-914
2073-1101-947
2074-1139-981
2075-1178-1016
2076-1217-1052
2077-1258-1088
2078-1299-1126
2079-1340-1163
2080-1382-1201
2081-1424-1238
2082-1466-1276
2083-1508-1314
2084-1550-1352
2085-1592-1390
2086-1635-1429
2087-1678-1468
2088-1722-1507
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