Proposed Provision: Progressive price indexing (30th percentile) of PIA formula factors beginning with individuals newly eligible for OASI benefits in 2020: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent formula factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in average wages. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired worker beneficiary status.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2011353353
2012347347
2013341341
2014334334
2015328328
2016321321
2017314314
2018306306
2019296296
2020284284
2021272272
2022259259
2023245245
2024230231
2025214215
2026198200
2027181184
2028164167
2029145149
2030127131
2031107113
20328794
20336775
20344656
20352537
2036417
2037-18-2
2038-40-22
2039-62-42
2040-85-62
2041-108-81
2042-130-101
2043-153-120
2044-176-139
2045-200-158
2046-223-177
2047-247-196
2048-271-215
2049-295-234
2050-319-252
2051-343-271
2052-368-289
2053-393-307
2054-418-325
2055-443-342
2056-468-360
2057-494-378
2058-521-395
2059-548-413
2060-575-430
2061-602-448
2062-630-465
2063-659-483
2064-687-500
2065-716-517
2066-746-534
2067-775-551
2068-805-568
2069-835-585
2070-866-602
2071-897-618
2072-928-635
2073-960-652
2074-992-669
2075-1025-686
2076-1058-703
2077-1092-720
2078-1126-737
2079-1161-754
2080-1196-772
2081-1232-789
2082-1268-806
2083-1305-824
2084-1342-841
2085-1380-859
2086-1419-877
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