Proposed Provision: B1.6 (2021). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2021: 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. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2017 | 298 | 298 |
2018 | 287 | 287 |
2019 | 273 | 273 |
2020 | 259 | 259 |
2021 | 245 | 245 |
2022 | 230 | 230 |
2023 | 215 | 215 |
2024 | 199 | 199 |
2025 | 182 | 183 |
2026 | 165 | 166 |
2027 | 148 | 149 |
2028 | 130 | 132 |
2029 | 112 | 114 |
2030 | 94 | 97 |
2031 | 75 | 79 |
2032 | 56 | 61 |
2033 | 37 | 42 |
2034 | 16 | 23 |
2035 | -4 | 4 |
2036 | -26 | -16 |
2037 | -47 | -36 |
2038 | -70 | -56 |
2039 | -92 | -76 |
2040 | -115 | -97 |
2041 | -138 | -117 |
2042 | -161 | -137 |
2043 | -184 | -157 |
2044 | -207 | -177 |
2045 | -230 | -196 |
2046 | -253 | -216 |
2047 | -276 | -235 |
2048 | -300 | -253 |
2049 | -323 | -272 |
2050 | -346 | -290 |
2051 | -370 | -308 |
2052 | -393 | -326 |
2053 | -417 | -343 |
2054 | -440 | -360 |
2055 | -464 | -376 |
2056 | -487 | -393 |
2057 | -511 | -409 |
2058 | -536 | -426 |
2059 | -560 | -442 |
2060 | -585 | -458 |
2061 | -611 | -475 |
2062 | -637 | -491 |
2063 | -663 | -507 |
2064 | -690 | -524 |
2065 | -717 | -540 |
2066 | -745 | -556 |
2067 | -772 | -573 |
2068 | -801 | -589 |
2069 | -829 | -605 |
2070 | -858 | -622 |
2071 | -888 | -638 |
2072 | -918 | -655 |
2073 | -949 | -672 |
2074 | -981 | -689 |
2075 | -1014 | -706 |
2076 | -1047 | -724 |
2077 | -1082 | -742 |
2078 | -1117 | -760 |
2079 | -1153 | -779 |
2080 | -1190 | -797 |
2081 | -1227 | -815 |
2082 | -1264 | -832 |
2083 | -1300 | -850 |
2084 | -1337 | -867 |
2085 | -1374 | -883 |
2086 | -1410 | -899 |
2087 | -1446 | -915 |
2088 | -1483 | -931 |
2089 | -1520 | -947 |
2090 | -1557 | -962 |
2091 | -1595 | -978 |
2092 | -1633 | -994 |
back