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 |
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 | 126 |
2028 | 110 | 110 |
2029 | 94 | 94 |
2030 | 77 | 78 |
2031 | 60 | 61 |
2032 | 42 | 43 |
2033 | 23 | 25 |
2034 | 4 | 6 |
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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