Proposed Provision: B1.2. Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2030: 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.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2023 | 204 | 204 |
2024 | 187 | 187 |
2025 | 168 | 168 |
2026 | 149 | 149 |
2027 | 131 | 131 |
2028 | 114 | 114 |
2029 | 96 | 96 |
2030 | 78 | 78 |
2031 | 60 | 61 |
2032 | 43 | 43 |
2033 | 25 | 25 |
2034 | 7 | 7 |
2035 | -12 | -12 |
2036 | -31 | -31 |
2037 | -51 | -50 |
2038 | -70 | -70 |
2039 | -91 | -90 |
2040 | -112 | -110 |
2041 | -133 | -131 |
2042 | -154 | -152 |
2043 | -176 | -173 |
2044 | -198 | -194 |
2045 | -220 | -216 |
2046 | -243 | -237 |
2047 | -265 | -258 |
2048 | -288 | -280 |
2049 | -311 | -301 |
2050 | -333 | -322 |
2051 | -357 | -343 |
2052 | -380 | -364 |
2053 | -403 | -385 |
2054 | -427 | -406 |
2055 | -450 | -427 |
2056 | -474 | -448 |
2057 | -498 | -468 |
2058 | -522 | -489 |
2059 | -547 | -510 |
2060 | -572 | -531 |
2061 | -597 | -552 |
2062 | -623 | -573 |
2063 | -650 | -594 |
2064 | -677 | -616 |
2065 | -705 | -638 |
2066 | -733 | -660 |
2067 | -762 | -682 |
2068 | -791 | -704 |
2069 | -820 | -726 |
2070 | -850 | -749 |
2071 | -880 | -771 |
2072 | -911 | -794 |
2073 | -942 | -816 |
2074 | -974 | -839 |
2075 | -1006 | -862 |
2076 | -1039 | -886 |
2077 | -1074 | -910 |
2078 | -1108 | -934 |
2079 | -1144 | -959 |
2080 | -1181 | -984 |
2081 | -1218 | -1009 |
2082 | -1256 | -1035 |
2083 | -1294 | -1060 |
2084 | -1333 | -1085 |
2085 | -1373 | -1111 |
2086 | -1413 | -1136 |
2087 | -1453 | -1161 |
2088 | -1494 | -1186 |
2089 | -1534 | -1209 |
2090 | -1574 | -1233 |
2091 | -1613 | -1255 |
2092 | -1651 | -1276 |
2093 | -1689 | -1296 |
2094 | -1726 | -1315 |
2095 | -1762 | -1333 |
2096 | -1798 | -1351 |
2097 | -1833 | -1367 |
2098 | -1868 | -1383 |
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