Proposed Provision: B1.3. Progressive price indexing (40th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2028: Create a new bend point at the 40th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 40th percentile and below. Reduce the 32 and 15 percent factors above the 40th 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 |
Current Law |
Provision |
2021 | 253 | 253 |
2022 | 231 | 231 |
2023 | 214 | 214 |
2024 | 196 | 196 |
2025 | 178 | 178 |
2026 | 159 | 159 |
2027 | 141 | 141 |
2028 | 122 | 122 |
2029 | 104 | 104 |
2030 | 85 | 85 |
2031 | 66 | 66 |
2032 | 46 | 47 |
2033 | 27 | 27 |
2034 | 7 | 8 |
2035 | -13 | -12 |
2036 | -33 | -33 |
2037 | -54 | -53 |
2038 | -76 | -74 |
2039 | -97 | -96 |
2040 | -119 | -118 |
2041 | -142 | -139 |
2042 | -165 | -161 |
2043 | -188 | -184 |
2044 | -211 | -206 |
2045 | -235 | -229 |
2046 | -258 | -252 |
2047 | -282 | -274 |
2048 | -306 | -297 |
2049 | -330 | -319 |
2050 | -354 | -342 |
2051 | -378 | -365 |
2052 | -403 | -387 |
2053 | -427 | -410 |
2054 | -452 | -432 |
2055 | -477 | -454 |
2056 | -502 | -477 |
2057 | -527 | -499 |
2058 | -552 | -521 |
2059 | -578 | -543 |
2060 | -604 | -565 |
2061 | -630 | -588 |
2062 | -657 | -610 |
2063 | -684 | -633 |
2064 | -712 | -656 |
2065 | -740 | -679 |
2066 | -768 | -702 |
2067 | -796 | -725 |
2068 | -825 | -748 |
2069 | -855 | -771 |
2070 | -884 | -794 |
2071 | -914 | -818 |
2072 | -945 | -842 |
2073 | -976 | -865 |
2074 | -1007 | -889 |
2075 | -1039 | -913 |
2076 | -1071 | -938 |
2077 | -1105 | -964 |
2078 | -1139 | -989 |
2079 | -1175 | -1016 |
2080 | -1211 | -1043 |
2081 | -1248 | -1070 |
2082 | -1286 | -1097 |
2083 | -1324 | -1125 |
2084 | -1363 | -1152 |
2085 | -1403 | -1180 |
2086 | -1443 | -1208 |
2087 | -1483 | -1236 |
2088 | -1524 | -1264 |
2089 | -1564 | -1291 |
2090 | -1604 | -1317 |
2091 | -1643 | -1342 |
2092 | -1681 | -1366 |
2093 | -1718 | -1388 |
2094 | -1754 | -1410 |
2095 | -1789 | -1431 |
2096 | -1825 | -1451 |
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