Proposed Provision: Progressive price indexing (50th percentile) of PIA formula factors beginning with individuals newly eligible for OASDI benefits in 2019: Create a new bend point at the 50th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 50th percentile and below. Reduce the 32 and 15 percent formula factors above the 50th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum grows by inflation rather than the growth in the SSA average wage index.

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

Year Present Law Provision
2012340340
2013329329
2014315315
2015302302
2016290290
2017277277
2018265265
2019253253
2020240241
2021227227
2022212213
2023197198
2024181182
2025164166
2026147149
2027129132
2028110114
20299096
20307076
20314956
20322736
2033515
2034-18-6
2035-41-28
2036-65-49
2037-89-71
2038-114-94
2039-138-116
2040-163-139
2041-189-161
2042-215-184
2043-240-207
2044-266-229
2045-292-252
2046-319-274
2047-346-297
2048-373-320
2049-400-343
2050-428-366
2051-456-388
2052-484-411
2053-512-434
2054-540-457
2055-569-479
2056-598-502
2057-628-525
2058-657-548
2059-688-572
2060-719-595
2061-750-619
2062-782-643
2063-814-667
2064-847-691
2065-880-715
2066-913-739
2067-946-763
2068-980-787
2069-1014-812
2070-1049-836
2071-1084-861
2072-1120-886
2073-1156-911
2074-1193-936
2075-1230-961
2076-1268-987
2077-1307-1013
2078-1346-1039
2079-1385-1065
2080-1425-1091
2081-1465-1118
2082-1505-1144
2083-1547-1171
2084-1588-1198
2085-1631-1225
2086-1673-1253
2087-1717-1280
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