Proposed Provision: B1.7. Progressive price indexing (40th percentile) of PIA factors for individuals newly eligible for OASI benefits in 2029 through 2066: 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. 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 |
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 | 46 |
2033 | 27 | 27 |
2034 | 7 | 7 |
2035 | -13 | -13 |
2036 | -33 | -33 |
2037 | -54 | -54 |
2038 | -76 | -75 |
2039 | -97 | -97 |
2040 | -119 | -119 |
2041 | -142 | -141 |
2042 | -165 | -163 |
2043 | -188 | -186 |
2044 | -211 | -209 |
2045 | -235 | -232 |
2046 | -258 | -255 |
2047 | -282 | -278 |
2048 | -306 | -301 |
2049 | -330 | -324 |
2050 | -354 | -347 |
2051 | -378 | -370 |
2052 | -403 | -394 |
2053 | -427 | -417 |
2054 | -452 | -440 |
2055 | -477 | -463 |
2056 | -502 | -486 |
2057 | -527 | -509 |
2058 | -552 | -532 |
2059 | -578 | -556 |
2060 | -604 | -579 |
2061 | -630 | -602 |
2062 | -657 | -626 |
2063 | -684 | -650 |
2064 | -712 | -674 |
2065 | -740 | -698 |
2066 | -768 | -722 |
2067 | -796 | -747 |
2068 | -825 | -771 |
2069 | -855 | -796 |
2070 | -884 | -820 |
2071 | -914 | -845 |
2072 | -945 | -870 |
2073 | -976 | -895 |
2074 | -1007 | -920 |
2075 | -1039 | -946 |
2076 | -1071 | -972 |
2077 | -1105 | -998 |
2078 | -1139 | -1025 |
2079 | -1175 | -1052 |
2080 | -1211 | -1080 |
2081 | -1248 | -1108 |
2082 | -1286 | -1136 |
2083 | -1324 | -1164 |
2084 | -1363 | -1193 |
2085 | -1403 | -1222 |
2086 | -1443 | -1250 |
2087 | -1483 | -1279 |
2088 | -1524 | -1308 |
2089 | -1564 | -1335 |
2090 | -1604 | -1362 |
2091 | -1643 | -1388 |
2092 | -1681 | -1413 |
2093 | -1718 | -1437 |
2094 | -1754 | -1460 |
2095 | -1789 | -1482 |
2096 | -1825 | -1504 |
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