Proposed Provision: Progressive price indexing (50th percentile) of PIA formula factors for individuals newly eligible for OASI benefits in 2017 through 2056: Create a new bend point at the 50th percentile of the AIME distribution of newly retired workers. Maintain current-law benefit credit for earners at the 50th percentile and below. Reduce the 32 and 15 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. 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 |
2012 | 340 | 340 |
2013 | 329 | 329 |
2014 | 315 | 315 |
2015 | 302 | 302 |
2016 | 290 | 290 |
2017 | 277 | 277 |
2018 | 265 | 266 |
2019 | 253 | 254 |
2020 | 240 | 241 |
2021 | 227 | 228 |
2022 | 212 | 214 |
2023 | 197 | 199 |
2024 | 181 | 184 |
2025 | 164 | 168 |
2026 | 147 | 152 |
2027 | 129 | 135 |
2028 | 110 | 117 |
2029 | 90 | 99 |
2030 | 70 | 80 |
2031 | 49 | 61 |
2032 | 27 | 41 |
2033 | 5 | 21 |
2034 | -18 | 0 |
2035 | -41 | -20 |
2036 | -65 | -42 |
2037 | -89 | -63 |
2038 | -114 | -84 |
2039 | -138 | -106 |
2040 | -163 | -128 |
2041 | -189 | -149 |
2042 | -215 | -171 |
2043 | -240 | -193 |
2044 | -266 | -215 |
2045 | -292 | -236 |
2046 | -319 | -258 |
2047 | -346 | -280 |
2048 | -373 | -302 |
2049 | -400 | -324 |
2050 | -428 | -345 |
2051 | -456 | -367 |
2052 | -484 | -389 |
2053 | -512 | -410 |
2054 | -540 | -432 |
2055 | -569 | -454 |
2056 | -598 | -476 |
2057 | -628 | -498 |
2058 | -657 | -520 |
2059 | -688 | -542 |
2060 | -719 | -565 |
2061 | -750 | -588 |
2062 | -782 | -611 |
2063 | -814 | -633 |
2064 | -847 | -656 |
2065 | -880 | -679 |
2066 | -913 | -702 |
2067 | -946 | -725 |
2068 | -980 | -748 |
2069 | -1014 | -772 |
2070 | -1049 | -795 |
2071 | -1084 | -818 |
2072 | -1120 | -842 |
2073 | -1156 | -867 |
2074 | -1193 | -891 |
2075 | -1230 | -916 |
2076 | -1268 | -941 |
2077 | -1307 | -966 |
2078 | -1346 | -992 |
2079 | -1385 | -1018 |
2080 | -1425 | -1043 |
2081 | -1465 | -1070 |
2082 | -1505 | -1096 |
2083 | -1547 | -1123 |
2084 | -1588 | -1150 |
2085 | -1631 | -1178 |
2086 | -1673 | -1206 |
2087 | -1717 | -1234 |
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