Proposed Provision: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2024: 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. 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
2015308308
2016298298
2017280280
2018264264
2019248248
2020233233
2021219219
2022204204
2023189189
2024173173
2025157158
2026142142
2027126126
2028110110
20299494
20307778
20316061
20324243
20332325
203446
2035-16-13
2036-36-33
2037-57-52
2038-78-73
2039-100-93
2040-122-113
2041-144-134
2042-166-155
2043-189-175
2044-211-196
2045-234-216
2046-257-237
2047-280-257
2048-303-278
2049-327-298
2050-351-318
2051-375-338
2052-398-358
2053-423-378
2054-447-398
2055-472-418
2056-496-438
2057-522-458
2058-548-478
2059-574-498
2060-601-518
2061-629-539
2062-657-559
2063-685-580
2064-714-601
2065-744-622
2066-774-644
2067-804-665
2068-835-686
2069-867-708
2070-899-730
2071-932-752
2072-965-775
2073-1000-798
2074-1035-821
2075-1072-845
2076-1110-870
2077-1148-895
2078-1188-920
2079-1228-945
2080-1268-971
2081-1309-996
2082-1350-1021
2083-1391-1045
2084-1432-1070
2085-1472-1094
2086-1514-1118
2087-1555-1143
2088-1597-1167
2089-1640-1192
2090-1683-1217
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