Proposed Provision: Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2018: 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. Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status. Young survivors (children of deceased workers and surviving spouses with a child in care) are not affected.
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 | 204 |
2023 | 187 | 189 |
2024 | 171 | 173 |
2025 | 154 | 157 |
2026 | 137 | 141 |
2027 | 119 | 125 |
2028 | 101 | 108 |
2029 | 83 | 91 |
2030 | 64 | 73 |
2031 | 44 | 55 |
2032 | 23 | 37 |
2033 | 2 | 18 |
2034 | -20 | -1 |
2035 | -42 | -21 |
2036 | -65 | -40 |
2037 | -88 | -60 |
2038 | -112 | -80 |
2039 | -136 | -101 |
2040 | -160 | -121 |
2041 | -185 | -141 |
2042 | -210 | -161 |
2043 | -235 | -181 |
2044 | -260 | -200 |
2045 | -285 | -220 |
2046 | -310 | -239 |
2047 | -336 | -259 |
2048 | -362 | -278 |
2049 | -388 | -297 |
2050 | -415 | -316 |
2051 | -442 | -335 |
2052 | -468 | -353 |
2053 | -495 | -372 |
2054 | -523 | -390 |
2055 | -550 | -408 |
2056 | -578 | -426 |
2057 | -606 | -444 |
2058 | -635 | -462 |
2059 | -664 | -481 |
2060 | -694 | -499 |
2061 | -725 | -518 |
2062 | -756 | -537 |
2063 | -787 | -555 |
2064 | -819 | -574 |
2065 | -852 | -593 |
2066 | -885 | -613 |
2067 | -918 | -632 |
2068 | -952 | -651 |
2069 | -987 | -671 |
2070 | -1022 | -691 |
2071 | -1057 | -711 |
2072 | -1094 | -731 |
2073 | -1132 | -752 |
2074 | -1171 | -773 |
2075 | -1210 | -794 |
2076 | -1251 | -816 |
2077 | -1293 | -838 |
2078 | -1335 | -860 |
2079 | -1378 | -882 |
2080 | -1421 | -904 |
2081 | -1464 | -926 |
2082 | -1507 | -948 |
2083 | -1550 | -969 |
2084 | -1593 | -990 |
2085 | -1636 | -1011 |
2086 | -1680 | -1033 |
2087 | -1724 | -1054 |
2088 | -1769 | -1075 |
2089 | -1814 | -1097 |
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