Proposed Provision: Progressive price indexing (40th percentile) of PIA factors for individuals newly eligible for OASI benefits in 2023 through 2060: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 40th percentile and below. Reduce the 32 and 15 percent factors above the 40th 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.

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
2026142142
2027126126
2028110111
20299495
20307778
20316061
20324243
20332325
203447
2035-16-12
2036-36-32
2037-57-51
2038-78-72
2039-100-92
2040-122-112
2041-144-133
2042-166-153
2043-189-174
2044-211-194
2045-234-215
2046-257-236
2047-280-256
2048-303-276
2049-327-297
2050-351-317
2051-375-337
2052-398-358
2053-423-378
2054-447-398
2055-472-418
2056-496-438
2057-522-458
2058-548-479
2059-574-500
2060-601-521
2061-629-542
2062-657-563
2063-685-585
2064-714-606
2065-744-628
2066-774-650
2067-804-672
2068-835-695
2069-867-717
2070-899-740
2071-932-763
2072-965-786
2073-1000-810
2074-1035-834
2075-1072-859
2076-1110-885
2077-1148-911
2078-1188-937
2079-1228-964
2080-1268-991
2081-1309-1017
2082-1350-1044
2083-1391-1070
2084-1432-1096
2085-1472-1122
2086-1514-1148
2087-1555-1174
2088-1597-1201
2089-1640-1228
2090-1683-1255
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