Proposed Provision: Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in 2012. Create new bend point at the 30th percentile of earners. Maintain current-law benefits for earners at the 30th percentile and below and reduce upper 2 formula factors (32% and 15%) such that maximum worker benefit grows by inflation rather than the growth in average wages.

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

Year Present Law Provision
2005320320
2006337337
2007355355
2008370370
2009383383
2010394394
2011404404
2012410410
2013415415
2014417418
2015418419
2016416418
2017412416
2018407412
2019401407
2020393401
2021383394
2022372386
2023360377
2024346366
2025332355
2026316343
2027299331
2028282317
2029264304
2030245290
2031225276
2032205262
2033185247
2034164233
2035143219
2036121204
203799190
203877176
203954161
204031147
20417133
2042-17120
2043-41106
2044-6692
2045-9179
2046-11765
2047-14352
2048-16939
2049-19626
2050-22313
2051-2510
2052-279-13
2053-308-26
2054-337-39
2055-367-52
2056-397-65
2057-428-78
2058-460-91
2059-492-105
2060-525-118
2061-558-131
2062-592-144
2063-626-158
2064-661-171
2065-697-185
2066-734-198
2067-772-212
2068-810-226
2069-849-240
2070-889-254
2071-930-268
2072-971-283
2073-1014-297
2074-1057-312
2075-1101-326
2076-1146-341
2077-1192-356
2078-1238-371
2079-1286-386
2080-1334-401
2081-1383-416
2082-1433-431
2083-1484-446
2084-1536-462
2085-1589-478
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