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 60th percentile of earners. Maintain current-law benefits for earners at the 60th 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 | 309 |
2020 | 299 | 300 |
2021 | 289 | 290 |
2022 | 277 | 279 |
2023 | 264 | 267 |
2024 | 251 | 254 |
2025 | 237 | 240 |
2026 | 221 | 226 |
2027 | 205 | 211 |
2028 | 189 | 195 |
2029 | 171 | 179 |
2030 | 154 | 163 |
2031 | 136 | 146 |
2032 | 117 | 129 |
2033 | 98 | 112 |
2034 | 79 | 95 |
2035 | 59 | 77 |
2036 | 39 | 59 |
2037 | 19 | 41 |
2038 | -1 | 24 |
2039 | -21 | 6 |
2040 | -42 | -12 |
2041 | -63 | -30 |
2042 | -84 | -47 |
2043 | -105 | -65 |
2044 | -126 | -82 |
2045 | -147 | -100 |
2046 | -168 | -117 |
2047 | -189 | -134 |
2048 | -211 | -152 |
2049 | -233 | -169 |
2050 | -255 | -186 |
2051 | -277 | -203 |
2052 | -299 | -220 |
2053 | -321 | -237 |
2054 | -344 | -254 |
2055 | -366 | -271 |
2056 | -389 | -288 |
2057 | -412 | -305 |
2058 | -436 | -322 |
2059 | -460 | -340 |
2060 | -485 | -358 |
2061 | -509 | -375 |
2062 | -534 | -393 |
2063 | -560 | -411 |
2064 | -586 | -429 |
2065 | -612 | -448 |
2066 | -638 | -466 |
2067 | -665 | -485 |
2068 | -692 | -504 |
2069 | -720 | -523 |
2070 | -748 | -543 |
2071 | -776 | -562 |
2072 | -805 | -583 |
2073 | -834 | -603 |
2074 | -864 | -623 |
2075 | -894 | -645 |
2076 | -925 | -666 |
2077 | -957 | -688 |
2078 | -989 | -710 |
2079 | -1021 | -733 |
2080 | -1054 | -756 |
2081 | -1087 | -779 |
2082 | -1121 | -803 |
2083 | -1156 | -827 |
2084 | -1191 | -852 |
2085 | -1227 | -877 |
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