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 50th percentile of earners. Maintain current-law benefits for earners at the 50th 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
2015418418
2016416417
2017412415
2018407411
2019401405
2020393399
2021383391
2022372382
2023360372
2024346361
2025332348
2026316335
2027299321
2028282307
2029264292
2030245277
2031225261
2032205245
2033185228
2034164212
2035143195
2036121178
203799161
203877144
203954127
204031110
2041793
2042-1776
2043-4158
2044-6641
2045-9123
2046-1175
2047-143-12
2048-169-30
2049-196-49
2050-223-67
2051-251-85
2052-279-104
2053-308-123
2054-337-142
2055-367-161
2056-397-180
2057-428-200
2058-460-220
2059-492-241
2060-525-261
2061-558-282
2062-592-303
2063-626-325
2064-661-347
2065-697-369
2066-734-392
2067-772-415
2068-810-438
2069-849-462
2070-889-486
2071-930-511
2072-971-536
2073-1014-561
2074-1057-587
2075-1101-614
2076-1146-640
2077-1192-667
2078-1238-695
2079-1286-723
2080-1334-752
2081-1383-781
2082-1433-810
2083-1484-840
2084-1536-871
2085-1589-902
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