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
2008359359
2009369369
2010378378
2011386386
2012392392
2013394394
2014395395
2015393393
2016390390
2017385385
2018378379
2019371372
2020361364
2021351355
2022341346
2023329335
2024316324
2025302313
2026287300
2027272288
2028256274
2029239260
2030221246
2031203232
2032185218
2033166203
2034147189
2035127174
2036108160
203788146
203867132
203947118
204026105
2041691
2042-1579
2043-3666
2044-5754
2045-7842
2046-10031
2047-12120
2048-1439
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
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