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
2010355355
2011353353
2012350350
2013346346
2014341341
2015335335
2016330330
2017324324
2018317317
2019309309
2020299300
2021289290
2022277279
2023264267
2024251254
2025237240
2026221226
2027205211
2028189195
2029171179
2030154163
2031136146
2032117129
203398112
20347995
20355977
20363959
20371941
2038-124
2039-216
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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