Proposed Provision: B3.8. Beginning with those newly eligible for OASDI benefits in 2024, create a new bend point at the 50th percentile of the AIME distribution of newly retired workers and gradually reduce all PIA factors except for the 90 percent factor. By 2057: a) the 32 percent PIA factor below the new bend point reduces to 30 percent; b) the 32 percent PIA factor above the new bend point reduces to 10 percent; and c) the 15 percent PIA factor reduces to 5 percent.
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 | 182 |
2026 | 165 | 165 |
2027 | 148 | 148 |
2028 | 130 | 130 |
2029 | 112 | 113 |
2030 | 94 | 94 |
2031 | 75 | 76 |
2032 | 56 | 57 |
2033 | 37 | 38 |
2034 | 16 | 18 |
2035 | -4 | -2 |
2036 | -26 | -23 |
2037 | -47 | -44 |
2038 | -70 | -66 |
2039 | -92 | -87 |
2040 | -115 | -109 |
2041 | -138 | -131 |
2042 | -161 | -153 |
2043 | -184 | -175 |
2044 | -207 | -196 |
2045 | -230 | -218 |
2046 | -253 | -239 |
2047 | -276 | -260 |
2048 | -300 | -282 |
2049 | -323 | -303 |
2050 | -346 | -324 |
2051 | -370 | -344 |
2052 | -393 | -365 |
2053 | -417 | -385 |
2054 | -440 | -405 |
2055 | -464 | -426 |
2056 | -487 | -446 |
2057 | -511 | -466 |
2058 | -536 | -486 |
2059 | -560 | -506 |
2060 | -585 | -526 |
2061 | -611 | -547 |
2062 | -637 | -567 |
2063 | -663 | -588 |
2064 | -690 | -608 |
2065 | -717 | -629 |
2066 | -745 | -650 |
2067 | -772 | -670 |
2068 | -801 | -691 |
2069 | -829 | -712 |
2070 | -858 | -733 |
2071 | -888 | -754 |
2072 | -918 | -775 |
2073 | -949 | -797 |
2074 | -981 | -819 |
2075 | -1014 | -842 |
2076 | -1047 | -865 |
2077 | -1082 | -889 |
2078 | -1117 | -913 |
2079 | -1153 | -938 |
2080 | -1190 | -962 |
2081 | -1227 | -987 |
2082 | -1264 | -1011 |
2083 | -1300 | -1035 |
2084 | -1337 | -1059 |
2085 | -1374 | -1083 |
2086 | -1410 | -1106 |
2087 | -1446 | -1130 |
2088 | -1483 | -1153 |
2089 | -1520 | -1176 |
2090 | -1557 | -1200 |
2091 | -1595 | -1224 |
2092 | -1633 | -1249 |
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