Proposed Provision: B1.6 (2020). Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2020: 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 |
2016 | 303 | 303 |
2017 | 293 | 293 |
2018 | 277 | 277 |
2019 | 262 | 262 |
2020 | 246 | 246 |
2021 | 231 | 231 |
2022 | 216 | 216 |
2023 | 200 | 200 |
2024 | 183 | 183 |
2025 | 165 | 166 |
2026 | 149 | 150 |
2027 | 132 | 134 |
2028 | 115 | 117 |
2029 | 98 | 101 |
2030 | 81 | 85 |
2031 | 64 | 69 |
2032 | 46 | 52 |
2033 | 27 | 35 |
2034 | 8 | 18 |
2035 | -11 | 1 |
2036 | -30 | -16 |
2037 | -50 | -34 |
2038 | -71 | -52 |
2039 | -91 | -69 |
2040 | -112 | -87 |
2041 | -133 | -105 |
2042 | -154 | -122 |
2043 | -176 | -140 |
2044 | -197 | -157 |
2045 | -218 | -174 |
2046 | -240 | -190 |
2047 | -262 | -207 |
2048 | -283 | -223 |
2049 | -305 | -239 |
2050 | -327 | -254 |
2051 | -349 | -269 |
2052 | -371 | -284 |
2053 | -393 | -299 |
2054 | -415 | -313 |
2055 | -437 | -327 |
2056 | -460 | -341 |
2057 | -482 | -355 |
2058 | -506 | -369 |
2059 | -529 | -383 |
2060 | -553 | -397 |
2061 | -578 | -410 |
2062 | -603 | -424 |
2063 | -628 | -438 |
2064 | -654 | -452 |
2065 | -680 | -466 |
2066 | -706 | -479 |
2067 | -733 | -493 |
2068 | -760 | -507 |
2069 | -788 | -521 |
2070 | -816 | -535 |
2071 | -845 | -549 |
2072 | -874 | -563 |
2073 | -905 | -577 |
2074 | -935 | -592 |
2075 | -967 | -607 |
2076 | -1000 | -621 |
2077 | -1033 | -637 |
2078 | -1068 | -652 |
2079 | -1102 | -667 |
2080 | -1138 | -682 |
2081 | -1173 | -696 |
2082 | -1208 | -711 |
2083 | -1243 | -725 |
2084 | -1279 | -738 |
2085 | -1314 | -751 |
2086 | -1349 | -764 |
2087 | -1384 | -777 |
2088 | -1419 | -790 |
2089 | -1455 | -803 |
2090 | -1491 | -815 |
2091 | -1528 | -828 |
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