Proposed Provision: Progressive price indexing of PIA formula factors beginning with individuals newly eligible for OASDI benefits in 2017. 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 |
2010 | 355 | 355 |
2011 | 353 | 353 |
2012 | 350 | 350 |
2013 | 346 | 346 |
2014 | 341 | 341 |
2015 | 335 | 335 |
2016 | 330 | 330 |
2017 | 324 | 324 |
2018 | 317 | 317 |
2019 | 309 | 310 |
2020 | 299 | 301 |
2021 | 289 | 291 |
2022 | 277 | 281 |
2023 | 264 | 269 |
2024 | 251 | 257 |
2025 | 237 | 245 |
2026 | 221 | 231 |
2027 | 205 | 218 |
2028 | 189 | 203 |
2029 | 171 | 189 |
2030 | 154 | 174 |
2031 | 136 | 159 |
2032 | 117 | 144 |
2033 | 98 | 128 |
2034 | 79 | 113 |
2035 | 59 | 98 |
2036 | 39 | 82 |
2037 | 19 | 67 |
2038 | -1 | 52 |
2039 | -21 | 37 |
2040 | -42 | 23 |
2041 | -63 | 9 |
2042 | -84 | -5 |
2043 | -105 | -18 |
2044 | -126 | -31 |
2045 | -147 | -44 |
2046 | -168 | -57 |
2047 | -189 | -69 |
2048 | -211 | -80 |
2049 | -233 | -92 |
2050 | -255 | -103 |
2051 | -277 | -113 |
2052 | -299 | -124 |
2053 | -321 | -134 |
2054 | -344 | -143 |
2055 | -366 | -153 |
2056 | -389 | -162 |
2057 | -412 | -171 |
2058 | -436 | -180 |
2059 | -460 | -188 |
2060 | -485 | -197 |
2061 | -509 | -205 |
2062 | -534 | -213 |
2063 | -560 | -220 |
2064 | -586 | -228 |
2065 | -612 | -235 |
2066 | -638 | -243 |
2067 | -665 | -250 |
2068 | -692 | -256 |
2069 | -720 | -263 |
2070 | -748 | -270 |
2071 | -776 | -276 |
2072 | -805 | -282 |
2073 | -834 | -289 |
2074 | -864 | -295 |
2075 | -894 | -301 |
2076 | -925 | -307 |
2077 | -957 | -313 |
2078 | -989 | -318 |
2079 | -1021 | -324 |
2080 | -1054 | -330 |
2081 | -1087 | -335 |
2082 | -1121 | -341 |
2083 | -1156 | -346 |
2084 | -1191 | -351 |
2085 | -1227 | -356 |
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