Proposed Provision: B1.5. Progressive price indexing (60th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2030: Create a new bend point at the 60th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 60th percentile and below. Reduce the 32 and 15 percent factors above the 60th 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 | -111 |
2041 | -133 | -132 |
2042 | -154 | -153 |
2043 | -176 | -175 |
2044 | -198 | -196 |
2045 | -220 | -218 |
2046 | -243 | -240 |
2047 | -265 | -262 |
2048 | -288 | -284 |
2049 | -311 | -306 |
2050 | -333 | -328 |
2051 | -357 | -350 |
2052 | -380 | -372 |
2053 | -403 | -394 |
2054 | -427 | -416 |
2055 | -450 | -438 |
2056 | -474 | -460 |
2057 | -498 | -483 |
2058 | -522 | -505 |
2059 | -547 | -527 |
2060 | -572 | -550 |
2061 | -597 | -574 |
2062 | -623 | -597 |
2063 | -650 | -621 |
2064 | -677 | -646 |
2065 | -705 | -670 |
2066 | -733 | -695 |
2067 | -762 | -720 |
2068 | -791 | -746 |
2069 | -820 | -771 |
2070 | -850 | -797 |
2071 | -880 | -823 |
2072 | -911 | -850 |
2073 | -942 | -876 |
2074 | -974 | -903 |
2075 | -1006 | -930 |
2076 | -1039 | -958 |
2077 | -1074 | -987 |
2078 | -1108 | -1016 |
2079 | -1144 | -1045 |
2080 | -1181 | -1075 |
2081 | -1218 | -1105 |
2082 | -1256 | -1136 |
2083 | -1294 | -1167 |
2084 | -1333 | -1198 |
2085 | -1373 | -1230 |
2086 | -1413 | -1261 |
2087 | -1453 | -1293 |
2088 | -1494 | -1324 |
2089 | -1534 | -1355 |
2090 | -1574 | -1386 |
2091 | -1613 | -1415 |
2092 | -1651 | -1444 |
2093 | -1689 | -1472 |
2094 | -1726 | -1499 |
2095 | -1762 | -1526 |
2096 | -1798 | -1552 |
2097 | -1833 | -1577 |
2098 | -1868 | -1602 |
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