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
2026151151
2027131131
2028111111
20299292
20307474
20315757
20324040
20332324
203478
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
back