Proposed Provision: Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in 2015. Create new bend point at the 30th percentile of earners. Maintain current-law benefits for earners at the 30th 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 |
| | |
2008 | 359 | 359 |
2009 | 369 | 369 |
2010 | 378 | 378 |
2011 | 386 | 386 |
2012 | 392 | 392 |
2013 | 394 | 394 |
2014 | 395 | 395 |
2015 | 393 | 393 |
2016 | 390 | 390 |
2017 | 385 | 385 |
2018 | 378 | 379 |
2019 | 371 | 372 |
2020 | 361 | 364 |
2021 | 351 | 355 |
2022 | 341 | 346 |
2023 | 329 | 335 |
2024 | 316 | 324 |
2025 | 302 | 313 |
2026 | 287 | 300 |
2027 | 272 | 288 |
2028 | 256 | 274 |
2029 | 239 | 260 |
2030 | 221 | 246 |
2031 | 203 | 232 |
2032 | 185 | 218 |
2033 | 166 | 203 |
2034 | 147 | 189 |
2035 | 127 | 174 |
2036 | 108 | 160 |
2037 | 88 | 146 |
2038 | 67 | 132 |
2039 | 47 | 118 |
2040 | 26 | 105 |
2041 | 6 | 91 |
2042 | -15 | 79 |
2043 | -36 | 66 |
2044 | -57 | 54 |
2045 | -78 | 42 |
2046 | -100 | 31 |
2047 | -121 | 20 |
2048 | -143 | 9 |
2049 | -165 | -1 |
2050 | -187 | -11 |
2051 | -209 | -21 |
2052 | -232 | -30 |
2053 | -254 | -39 |
2054 | -277 | -48 |
2055 | -300 | -57 |
2056 | -324 | -65 |
2057 | -347 | -74 |
2058 | -372 | -82 |
2059 | -396 | -90 |
2060 | -421 | -97 |
2061 | -447 | -105 |
2062 | -472 | -112 |
2063 | -498 | -119 |
2064 | -525 | -126 |
2065 | -552 | -133 |
2066 | -579 | -139 |
2067 | -607 | -145 |
2068 | -635 | -151 |
2069 | -664 | -157 |
2070 | -693 | -163 |
2071 | -722 | -169 |
2072 | -752 | -174 |
2073 | -782 | -180 |
2074 | -813 | -185 |
2075 | -845 | -190 |
2076 | -876 | -195 |
2077 | -909 | -200 |
2078 | -942 | -204 |
2079 | -975 | -209 |
2080 | -1009 | -213 |
2081 | -1044 | -218 |
2082 | -1079 | -222 |
2083 | -1114 | -226 |
2084 | -1151 | -230 |
2085 | -1188 | -234 |
back