Proposed Provision: B1.6 (2028). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2028: 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.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2019 | 273 | 273 |
2020 | 260 | 260 |
2021 | 245 | 245 |
2022 | 229 | 229 |
2023 | 213 | 213 |
2024 | 197 | 197 |
2025 | 180 | 180 |
2026 | 163 | 163 |
2027 | 147 | 147 |
2028 | 130 | 130 |
2029 | 114 | 114 |
2030 | 97 | 97 |
2031 | 80 | 80 |
2032 | 63 | 63 |
2033 | 46 | 46 |
2034 | 28 | 28 |
2035 | 10 | 10 |
2036 | -9 | -8 |
2037 | -28 | -27 |
2038 | -47 | -46 |
2039 | -67 | -65 |
2040 | -87 | -85 |
2041 | -108 | -105 |
2042 | -129 | -125 |
2043 | -150 | -145 |
2044 | -171 | -165 |
2045 | -192 | -184 |
2046 | -213 | -204 |
2047 | -234 | -223 |
2048 | -255 | -243 |
2049 | -276 | -262 |
2050 | -297 | -280 |
2051 | -318 | -299 |
2052 | -338 | -317 |
2053 | -359 | -335 |
2054 | -380 | -353 |
2055 | -401 | -370 |
2056 | -422 | -387 |
2057 | -444 | -404 |
2058 | -465 | -421 |
2059 | -487 | -438 |
2060 | -509 | -455 |
2061 | -531 | -472 |
2062 | -554 | -489 |
2063 | -577 | -506 |
2064 | -601 | -523 |
2065 | -625 | -540 |
2066 | -649 | -557 |
2067 | -674 | -574 |
2068 | -699 | -591 |
2069 | -724 | -608 |
2070 | -749 | -625 |
2071 | -776 | -642 |
2072 | -802 | -660 |
2073 | -830 | -677 |
2074 | -857 | -695 |
2075 | -885 | -712 |
2076 | -914 | -730 |
2077 | -944 | -749 |
2078 | -975 | -767 |
2079 | -1007 | -786 |
2080 | -1039 | -805 |
2081 | -1072 | -824 |
2082 | -1106 | -843 |
2083 | -1139 | -862 |
2084 | -1173 | -880 |
2085 | -1207 | -898 |
2086 | -1242 | -916 |
2087 | -1275 | -933 |
2088 | -1309 | -950 |
2089 | -1342 | -966 |
2090 | -1375 | -981 |
2091 | -1407 | -996 |
2092 | -1439 | -1010 |
2093 | -1471 | -1024 |
2094 | -1503 | -1038 |
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