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 |
2014 | 320 | 320 |
2015 | 306 | 306 |
2016 | 292 | 292 |
2017 | 277 | 277 |
2018 | 262 | 262 |
2019 | 248 | 248 |
2020 | 233 | 233 |
2021 | 219 | 219 |
2022 | 203 | 203 |
2023 | 187 | 188 |
2024 | 171 | 171 |
2025 | 154 | 155 |
2026 | 137 | 138 |
2027 | 119 | 121 |
2028 | 101 | 103 |
2029 | 83 | 85 |
2030 | 64 | 67 |
2031 | 44 | 48 |
2032 | 23 | 28 |
2033 | 2 | 8 |
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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