Proposed Provision: C2.3. Starting for those age 62 in 2027, index the normal retirement age (NRA) to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20). We assume the NRA will increase 1 month every 2 years. Also, increase the earliest eligibility age (EEA) by the same amount as the NRA starting for those age 62 in 2027 so as to maintain a 5 year difference between the two ages. Include a "hardship exemption" with no EEA/NRA change for a worker with 25 years of earnings (with 4 quarters of coverage each), and average indexed monthly earnings (AIME) less than 250 percent of the poverty level (wage-indexed from 2013). The hardship exemption is phased out for those with AIME above 400 percent of the poverty level.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2026 | 151 | 151 |
| 2027 | 131 | 131 |
| 2028 | 111 | 111 |
| 2029 | 92 | 92 |
| 2030 | 74 | 74 |
| 2031 | 57 | 57 |
| 2032 | 40 | 40 |
| 2033 | 23 | 24 |
| 2034 | 7 | 8 |
| 2035 | -9 | -8 |
| 2036 | -25 | -23 |
| 2037 | -41 | -40 |
| 2038 | -58 | -56 |
| 2039 | -76 | -73 |
| 2040 | -94 | -91 |
| 2041 | -112 | -109 |
| 2042 | -132 | -128 |
| 2043 | -151 | -147 |
| 2044 | -171 | -166 |
| 2045 | -192 | -186 |
| 2046 | -213 | -207 |
| 2047 | -234 | -227 |
| 2048 | -256 | -249 |
| 2049 | -279 | -270 |
| 2050 | -301 | -292 |
| 2051 | -324 | -314 |
| 2052 | -347 | -336 |
| 2053 | -371 | -358 |
| 2054 | -395 | -381 |
| 2055 | -420 | -405 |
| 2056 | -445 | -428 |
| 2057 | -470 | -452 |
| 2058 | -496 | -477 |
| 2059 | -522 | -502 |
| 2060 | -550 | -528 |
| 2061 | -578 | -554 |
| 2062 | -607 | -582 |
| 2063 | -636 | -609 |
| 2064 | -666 | -638 |
| 2065 | -697 | -667 |
| 2066 | -729 | -697 |
| 2067 | -761 | -727 |
| 2068 | -794 | -758 |
| 2069 | -827 | -790 |
| 2070 | -861 | -822 |
| 2071 | -896 | -854 |
| 2072 | -931 | -888 |
| 2073 | -967 | -922 |
| 2074 | -1004 | -956 |
| 2075 | -1042 | -992 |
| 2076 | -1081 | -1028 |
| 2077 | -1121 | -1065 |
| 2078 | -1162 | -1104 |
| 2079 | -1204 | -1143 |
| 2080 | -1248 | -1184 |
| 2081 | -1292 | -1226 |
| 2082 | -1337 | -1268 |
| 2083 | -1384 | -1312 |
| 2084 | -1431 | -1356 |
| 2085 | -1480 | -1402 |
| 2086 | -1530 | -1448 |
| 2087 | -1581 | -1496 |
| 2088 | -1633 | -1545 |
| 2089 | -1686 | -1595 |
| 2090 | -1740 | -1645 |
| 2091 | -1795 | -1696 |
| 2092 | -1850 | -1748 |
| 2093 | -1906 | -1800 |
| 2094 | -1962 | -1853 |
| 2095 | -2019 | -1907 |
| 2096 | -2075 | -1961 |
| 2097 | -2132 | -2016 |
| 2098 | -2189 | -2069 |
| 2099 | -2246 | -2122 |
| 2100 | -2303 | -2175 |
| 2101 | -2359 | -2226 |
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