Proposed Provision: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2022: 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 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 the SSA average wage index.

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

Year Present Law Provision
2015308308
2016298298
2017280280
2018264264
2019248248
2020233233
2021219219
2022204204
2023189189
2024173173
2025157158
2026142143
2027126127
2028110112
20299496
20307780
20316063
20324246
20332329
2034411
2035-16-8
2036-36-26
2037-57-45
2038-78-64
2039-100-83
2040-122-102
2041-144-122
2042-166-141
2043-189-160
2044-211-179
2045-234-198
2046-257-216
2047-280-235
2048-303-253
2049-327-271
2050-351-289
2051-375-307
2052-398-324
2053-423-342
2054-447-359
2055-472-376
2056-496-392
2057-522-409
2058-548-426
2059-574-443
2060-601-460
2061-629-477
2062-657-494
2063-685-511
2064-714-529
2065-744-546
2066-774-563
2067-804-580
2068-835-597
2069-867-615
2070-899-632
2071-932-650
2072-965-668
2073-1000-686
2074-1035-705
2075-1072-724
2076-1110-743
2077-1148-762
2078-1188-782
2079-1228-802
2080-1268-821
2081-1309-840
2082-1350-859
2083-1391-878
2084-1432-896
2085-1472-914
2086-1514-932
2087-1555-949
2088-1597-967
2089-1640-984
2090-1683-1002
back