Proposed Provision: B1.6 (2024). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2024: 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
2020261261
2021248248
2022233233
2023217217
2024200200
2025183183
2026165165
2027148148
2028130130
2029112112
20309494
20317677
20325859
20333941
20342022
203514
2036-19-15
2037-38-34
2038-59-54
2039-80-73
2040-101-93
2041-122-113
2042-144-133
2043-166-153
2044-188-173
2045-210-193
2046-232-212
2047-255-232
2048-277-251
2049-299-271
2050-322-289
2051-344-308
2052-367-327
2053-389-345
2054-412-363
2055-434-381
2056-457-398
2057-480-416
2058-504-433
2059-527-451
2060-551-468
2061-575-485
2062-599-502
2063-624-520
2064-650-537
2065-676-555
2066-702-572
2067-728-590
2068-755-608
2069-782-626
2070-809-643
2071-837-661
2072-866-680
2073-895-698
2074-925-717
2075-955-736
2076-986-755
2077-1018-775
2078-1051-795
2079-1084-815
2080-1119-836
2081-1154-856
2082-1190-877
2083-1226-898
2084-1263-919
2085-1300-939
2086-1337-959
2087-1374-979
2088-1411-999
2089-1448-1017
2090-1484-1035
2091-1520-1053
2092-1554-1069
2093-1589-1085
2094-1623-1101
2095-1657-1116
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