Proposed Provision: B1.2. Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2028: 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.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2021 | 253 | 253 |
2022 | 231 | 231 |
2023 | 214 | 214 |
2024 | 196 | 196 |
2025 | 178 | 178 |
2026 | 159 | 159 |
2027 | 141 | 141 |
2028 | 122 | 122 |
2029 | 104 | 104 |
2030 | 85 | 85 |
2031 | 66 | 66 |
2032 | 46 | 47 |
2033 | 27 | 27 |
2034 | 7 | 8 |
2035 | -13 | -12 |
2036 | -33 | -33 |
2037 | -54 | -53 |
2038 | -76 | -74 |
2039 | -97 | -95 |
2040 | -119 | -117 |
2041 | -142 | -139 |
2042 | -165 | -161 |
2043 | -188 | -183 |
2044 | -211 | -205 |
2045 | -235 | -228 |
2046 | -258 | -250 |
2047 | -282 | -273 |
2048 | -306 | -295 |
2049 | -330 | -317 |
2050 | -354 | -340 |
2051 | -378 | -362 |
2052 | -403 | -384 |
2053 | -427 | -406 |
2054 | -452 | -428 |
2055 | -477 | -450 |
2056 | -502 | -471 |
2057 | -527 | -493 |
2058 | -552 | -514 |
2059 | -578 | -536 |
2060 | -604 | -557 |
2061 | -630 | -579 |
2062 | -657 | -600 |
2063 | -684 | -622 |
2064 | -712 | -644 |
2065 | -740 | -666 |
2066 | -768 | -688 |
2067 | -796 | -709 |
2068 | -825 | -731 |
2069 | -855 | -753 |
2070 | -884 | -775 |
2071 | -914 | -797 |
2072 | -945 | -819 |
2073 | -976 | -841 |
2074 | -1007 | -864 |
2075 | -1039 | -886 |
2076 | -1071 | -909 |
2077 | -1105 | -933 |
2078 | -1139 | -956 |
2079 | -1175 | -981 |
2080 | -1211 | -1005 |
2081 | -1248 | -1030 |
2082 | -1286 | -1055 |
2083 | -1324 | -1080 |
2084 | -1363 | -1105 |
2085 | -1403 | -1130 |
2086 | -1443 | -1155 |
2087 | -1483 | -1180 |
2088 | -1524 | -1205 |
2089 | -1564 | -1229 |
2090 | -1604 | -1252 |
2091 | -1643 | -1273 |
2092 | -1681 | -1294 |
2093 | -1718 | -1313 |
2094 | -1754 | -1331 |
2095 | -1789 | -1349 |
2096 | -1825 | -1366 |
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