Proposed Provision: B3.6. Progressive indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2019, continuing through 2068: 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 is reduced by 1.21 percent per year as compared to current law (for the years that progressive indexing applies). 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 |
2016 | 303 | 303 |
2017 | 293 | 293 |
2018 | 277 | 277 |
2019 | 262 | 262 |
2020 | 246 | 246 |
2021 | 231 | 232 |
2022 | 216 | 216 |
2023 | 200 | 200 |
2024 | 183 | 183 |
2025 | 165 | 166 |
2026 | 149 | 150 |
2027 | 132 | 134 |
2028 | 115 | 117 |
2029 | 98 | 101 |
2030 | 81 | 85 |
2031 | 64 | 69 |
2032 | 46 | 52 |
2033 | 27 | 35 |
2034 | 8 | 17 |
2035 | -11 | 0 |
2036 | -30 | -18 |
2037 | -50 | -35 |
2038 | -71 | -54 |
2039 | -91 | -72 |
2040 | -112 | -90 |
2041 | -133 | -108 |
2042 | -154 | -126 |
2043 | -176 | -144 |
2044 | -197 | -161 |
2045 | -218 | -178 |
2046 | -240 | -196 |
2047 | -262 | -213 |
2048 | -283 | -229 |
2049 | -305 | -246 |
2050 | -327 | -262 |
2051 | -349 | -278 |
2052 | -371 | -294 |
2053 | -393 | -309 |
2054 | -415 | -324 |
2055 | -437 | -339 |
2056 | -460 | -354 |
2057 | -482 | -369 |
2058 | -506 | -383 |
2059 | -529 | -398 |
2060 | -553 | -413 |
2061 | -578 | -428 |
2062 | -603 | -443 |
2063 | -628 | -457 |
2064 | -654 | -472 |
2065 | -680 | -487 |
2066 | -706 | -502 |
2067 | -733 | -517 |
2068 | -760 | -532 |
2069 | -788 | -547 |
2070 | -816 | -562 |
2071 | -845 | -577 |
2072 | -874 | -592 |
2073 | -905 | -608 |
2074 | -935 | -623 |
2075 | -967 | -639 |
2076 | -1000 | -655 |
2077 | -1033 | -671 |
2078 | -1068 | -687 |
2079 | -1102 | -703 |
2080 | -1138 | -719 |
2081 | -1173 | -735 |
2082 | -1208 | -750 |
2083 | -1243 | -765 |
2084 | -1279 | -779 |
2085 | -1314 | -793 |
2086 | -1349 | -807 |
2087 | -1384 | -821 |
2088 | -1419 | -835 |
2089 | -1455 | -849 |
2090 | -1491 | -863 |
2091 | -1528 | -877 |
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