Proposed Provision: B1.2. Progressive price indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASDI benefits in 2029: 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 |
Current Law |
Provision |
2022 | 230 | 230 |
2023 | 211 | 211 |
2024 | 194 | 194 |
2025 | 177 | 177 |
2026 | 160 | 160 |
2027 | 143 | 143 |
2028 | 126 | 126 |
2029 | 109 | 109 |
2030 | 91 | 91 |
2031 | 74 | 74 |
2032 | 57 | 57 |
2033 | 39 | 39 |
2034 | 21 | 22 |
2035 | 3 | 4 |
2036 | -16 | -15 |
2037 | -35 | -34 |
2038 | -54 | -53 |
2039 | -74 | -73 |
2040 | -95 | -93 |
2041 | -116 | -113 |
2042 | -137 | -134 |
2043 | -158 | -154 |
2044 | -180 | -175 |
2045 | -202 | -195 |
2046 | -224 | -216 |
2047 | -246 | -237 |
2048 | -268 | -258 |
2049 | -291 | -279 |
2050 | -313 | -299 |
2051 | -336 | -320 |
2052 | -359 | -341 |
2053 | -383 | -362 |
2054 | -406 | -382 |
2055 | -430 | -402 |
2056 | -453 | -423 |
2057 | -477 | -443 |
2058 | -501 | -463 |
2059 | -525 | -483 |
2060 | -550 | -504 |
2061 | -575 | -524 |
2062 | -601 | -545 |
2063 | -627 | -565 |
2064 | -654 | -586 |
2065 | -681 | -607 |
2066 | -708 | -628 |
2067 | -736 | -649 |
2068 | -764 | -670 |
2069 | -792 | -691 |
2070 | -821 | -712 |
2071 | -850 | -733 |
2072 | -880 | -755 |
2073 | -910 | -776 |
2074 | -940 | -797 |
2075 | -971 | -819 |
2076 | -1003 | -841 |
2077 | -1036 | -864 |
2078 | -1069 | -887 |
2079 | -1104 | -910 |
2080 | -1139 | -933 |
2081 | -1175 | -957 |
2082 | -1212 | -981 |
2083 | -1249 | -1005 |
2084 | -1286 | -1029 |
2085 | -1324 | -1053 |
2086 | -1363 | -1076 |
2087 | -1402 | -1100 |
2088 | -1442 | -1123 |
2089 | -1481 | -1146 |
2090 | -1520 | -1168 |
2091 | -1558 | -1189 |
2092 | -1595 | -1209 |
2093 | -1632 | -1227 |
2094 | -1668 | -1245 |
2095 | -1703 | -1262 |
2096 | -1738 | -1278 |
2097 | -1773 | -1294 |
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