Proposed Provision: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2021: 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 Present Law Provision
2014320320
2015306306
2016292292
2017277277
2018262262
2019248248
2020233233
2021219219
2022203203
2023187188
2024171171
2025154155
2026137138
2027119121
2028101103
20298385
20306467
20314448
20322328
203328
2034-20-12
2035-42-33
2036-65-54
2037-88-75
2038-112-97
2039-136-118
2040-160-140
2041-185-162
2042-210-183
2043-235-205
2044-260-227
2045-285-248
2046-310-269
2047-336-291
2048-362-312
2049-388-333
2050-415-354
2051-442-375
2052-468-396
2053-495-416
2054-523-436
2055-550-457
2056-578-477
2057-606-497
2058-635-517
2059-664-537
2060-694-558
2061-725-578
2062-756-599
2063-787-620
2064-819-640
2065-852-661
2066-885-682
2067-918-703
2068-952-724
2069-987-746
2070-1022-767
2071-1057-788
2072-1094-811
2073-1132-833
2074-1171-856
2075-1210-879
2076-1251-902
2077-1293-926
2078-1335-950
2079-1378-974
2080-1421-997
2081-1464-1021
2082-1507-1044
2083-1550-1067
2084-1593-1089
2085-1636-1112
2086-1680-1134
2087-1724-1156
2088-1769-1179
2089-1814-1201
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