Proposed Provision: B1.2. Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2023: 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 |
2016 | 303 | 303 |
2017 | 293 | 293 |
2018 | 277 | 277 |
2019 | 262 | 262 |
2020 | 246 | 246 |
2021 | 231 | 231 |
2022 | 216 | 216 |
2023 | 200 | 200 |
2024 | 183 | 183 |
2025 | 165 | 166 |
2026 | 149 | 149 |
2027 | 132 | 132 |
2028 | 115 | 116 |
2029 | 98 | 99 |
2030 | 81 | 82 |
2031 | 64 | 66 |
2032 | 46 | 48 |
2033 | 27 | 31 |
2034 | 8 | 13 |
2035 | -11 | -5 |
2036 | -30 | -23 |
2037 | -50 | -41 |
2038 | -71 | -60 |
2039 | -91 | -79 |
2040 | -112 | -97 |
2041 | -133 | -116 |
2042 | -154 | -135 |
2043 | -176 | -153 |
2044 | -197 | -171 |
2045 | -218 | -189 |
2046 | -240 | -207 |
2047 | -262 | -224 |
2048 | -283 | -241 |
2049 | -305 | -258 |
2050 | -327 | -275 |
2051 | -349 | -291 |
2052 | -371 | -307 |
2053 | -393 | -323 |
2054 | -415 | -338 |
2055 | -437 | -353 |
2056 | -460 | -368 |
2057 | -482 | -383 |
2058 | -506 | -398 |
2059 | -529 | -413 |
2060 | -553 | -427 |
2061 | -578 | -442 |
2062 | -603 | -456 |
2063 | -628 | -471 |
2064 | -654 | -485 |
2065 | -680 | -500 |
2066 | -706 | -514 |
2067 | -733 | -528 |
2068 | -760 | -542 |
2069 | -788 | -556 |
2070 | -816 | -571 |
2071 | -845 | -585 |
2072 | -874 | -599 |
2073 | -905 | -613 |
2074 | -935 | -628 |
2075 | -967 | -643 |
2076 | -1000 | -658 |
2077 | -1033 | -673 |
2078 | -1068 | -688 |
2079 | -1102 | -703 |
2080 | -1138 | -718 |
2081 | -1173 | -732 |
2082 | -1208 | -746 |
2083 | -1243 | -760 |
2084 | -1279 | -773 |
2085 | -1314 | -786 |
2086 | -1349 | -798 |
2087 | -1384 | -810 |
2088 | -1419 | -822 |
2089 | -1455 | -833 |
2090 | -1491 | -845 |
2091 | -1528 | -857 |
back