Proposed Provision: B1.5. Progressive price indexing (60th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2023: 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 |
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 | 165 |
2026 | 149 | 149 |
2027 | 132 | 132 |
2028 | 115 | 115 |
2029 | 98 | 98 |
2030 | 81 | 82 |
2031 | 64 | 64 |
2032 | 46 | 47 |
2033 | 27 | 29 |
2034 | 8 | 11 |
2035 | -11 | -8 |
2036 | -30 | -27 |
2037 | -50 | -46 |
2038 | -71 | -66 |
2039 | -91 | -85 |
2040 | -112 | -105 |
2041 | -133 | -125 |
2042 | -154 | -145 |
2043 | -176 | -165 |
2044 | -197 | -184 |
2045 | -218 | -204 |
2046 | -240 | -224 |
2047 | -262 | -243 |
2048 | -283 | -263 |
2049 | -305 | -282 |
2050 | -327 | -302 |
2051 | -349 | -321 |
2052 | -371 | -340 |
2053 | -393 | -359 |
2054 | -415 | -378 |
2055 | -437 | -397 |
2056 | -460 | -416 |
2057 | -482 | -435 |
2058 | -506 | -454 |
2059 | -529 | -473 |
2060 | -553 | -493 |
2061 | -578 | -513 |
2062 | -603 | -533 |
2063 | -628 | -553 |
2064 | -654 | -573 |
2065 | -680 | -594 |
2066 | -706 | -614 |
2067 | -733 | -635 |
2068 | -760 | -656 |
2069 | -788 | -678 |
2070 | -816 | -699 |
2071 | -845 | -721 |
2072 | -874 | -743 |
2073 | -905 | -766 |
2074 | -935 | -789 |
2075 | -967 | -813 |
2076 | -1000 | -838 |
2077 | -1033 | -863 |
2078 | -1068 | -889 |
2079 | -1102 | -914 |
2080 | -1138 | -940 |
2081 | -1173 | -966 |
2082 | -1208 | -992 |
2083 | -1243 | -1018 |
2084 | -1279 | -1044 |
2085 | -1314 | -1069 |
2086 | -1349 | -1094 |
2087 | -1384 | -1120 |
2088 | -1419 | -1145 |
2089 | -1455 | -1171 |
2090 | -1491 | -1198 |
2091 | -1528 | -1224 |
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