Proposed Provision: Progressive price indexing (60th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2022: Create a new bend point at the 60th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 60th percentile and below. Reduce the 32 and 15 percent factors above the 60th 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 |
2015 | 308 | 308 |
2016 | 298 | 298 |
2017 | 280 | 280 |
2018 | 264 | 264 |
2019 | 248 | 248 |
2020 | 233 | 233 |
2021 | 219 | 219 |
2022 | 204 | 204 |
2023 | 189 | 189 |
2024 | 173 | 173 |
2025 | 157 | 158 |
2026 | 142 | 142 |
2027 | 126 | 127 |
2028 | 110 | 111 |
2029 | 94 | 95 |
2030 | 77 | 78 |
2031 | 60 | 61 |
2032 | 42 | 44 |
2033 | 23 | 26 |
2034 | 4 | 7 |
2035 | -16 | -12 |
2036 | -36 | -31 |
2037 | -57 | -51 |
2038 | -78 | -71 |
2039 | -100 | -92 |
2040 | -122 | -112 |
2041 | -144 | -133 |
2042 | -166 | -154 |
2043 | -189 | -174 |
2044 | -211 | -195 |
2045 | -234 | -216 |
2046 | -257 | -237 |
2047 | -280 | -258 |
2048 | -303 | -279 |
2049 | -327 | -300 |
2050 | -351 | -321 |
2051 | -375 | -341 |
2052 | -398 | -362 |
2053 | -423 | -383 |
2054 | -447 | -404 |
2055 | -472 | -425 |
2056 | -496 | -446 |
2057 | -522 | -468 |
2058 | -548 | -489 |
2059 | -574 | -511 |
2060 | -601 | -533 |
2061 | -629 | -556 |
2062 | -657 | -579 |
2063 | -685 | -602 |
2064 | -714 | -625 |
2065 | -744 | -649 |
2066 | -774 | -673 |
2067 | -804 | -697 |
2068 | -835 | -722 |
2069 | -867 | -746 |
2070 | -899 | -772 |
2071 | -932 | -797 |
2072 | -965 | -824 |
2073 | -1000 | -850 |
2074 | -1035 | -878 |
2075 | -1072 | -906 |
2076 | -1110 | -935 |
2077 | -1148 | -965 |
2078 | -1188 | -996 |
2079 | -1228 | -1026 |
2080 | -1268 | -1057 |
2081 | -1309 | -1088 |
2082 | -1350 | -1119 |
2083 | -1391 | -1150 |
2084 | -1432 | -1181 |
2085 | -1472 | -1212 |
2086 | -1514 | -1243 |
2087 | -1555 | -1274 |
2088 | -1597 | -1305 |
2089 | -1640 | -1337 |
2090 | -1683 | -1370 |
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