Proposed Provision: Progressive price indexing (40th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2022: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 40th percentile and below. Reduce the 32 and 15 percent factors above the 40th 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 Present Law Provision
2015308308
2016298298
2017280280
2018264264
2019248248
2020233233
2021219219
2022204204
2023189189
2024173173
2025157158
2026142142
2027126127
2028110111
20299496
20307779
20316063
20324245
20332328
203449
2035-16-9
2036-36-28
2037-57-47
2038-78-67
2039-100-86
2040-122-106
2041-144-126
2042-166-145
2043-189-165
2044-211-184
2045-234-204
2046-257-223
2047-280-243
2048-303-262
2049-327-281
2050-351-300
2051-375-319
2052-398-338
2053-423-356
2054-447-374
2055-472-393
2056-496-411
2057-522-430
2058-548-448
2059-574-467
2060-601-486
2061-629-505
2062-657-524
2063-685-544
2064-714-563
2065-744-583
2066-774-602
2067-804-622
2068-835-642
2069-867-663
2070-899-683
2071-932-704
2072-965-725
2073-1000-746
2074-1035-768
2075-1072-791
2076-1110-814
2077-1148-838
2078-1188-861
2079-1228-885
2080-1268-909
2081-1309-933
2082-1350-956
2083-1391-980
2084-1432-1003
2085-1472-1025
2086-1514-1048
2087-1555-1071
2088-1597-1093
2089-1640-1116
2090-1683-1139
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