Detailed Single Year Tables
Description of 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.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2026 | 15.37 | 12.91 | -2.45 | 151 | 0.00 | 0.00 | 0.00 | ||
| 2027 | 15.61 | 12.85 | -2.76 | 131 | -0.00 | 0.00 | 0.00 | ||
| 2028 | 15.69 | 13.01 | -2.68 | 111 | -0.01 | 0.00 | 0.01 | ||
| 2029 | 15.73 | 13.06 | -2.66 | 92 | -0.01 | 0.00 | 0.02 | ||
| 2030 | 15.72 | 13.07 | -2.64 | 74 | -0.02 | 0.00 | 0.02 | ||
| 2031 | 15.70 | 13.09 | -2.61 | 57 | -0.02 | 0.00 | 0.03 | ||
| 2032 | 15.69 | 13.09 | -2.59 | 40 | -0.03 | 0.00 | 0.03 | ||
| 2033 | 15.68 | 13.13 | -2.55 | 24 | -0.03 | 0.00 | 0.04 | ||
| 2034 | 15.70 | 13.14 | -2.56 | 8 | -0.04 | 0.00 | 0.04 | ||
| 2035 | 15.72 | 13.17 | -2.56 | — | -0.05 | 0.00 | 0.05 | ||
| 2036 | 15.80 | 13.17 | -2.63 | — | -0.06 | 0.00 | 0.06 | ||
| 2037 | 15.89 | 13.18 | -2.71 | — | -0.06 | 0.00 | 0.07 | ||
| 2038 | 15.97 | 13.19 | -2.78 | — | -0.08 | 0.00 | 0.08 | ||
| 2039 | 16.04 | 13.19 | -2.84 | — | -0.09 | 0.00 | 0.09 | ||
| 2040 | 16.09 | 13.20 | -2.89 | — | -0.11 | 0.00 | 0.11 | ||
| 2041 | 16.15 | 13.20 | -2.95 | — | -0.12 | 0.00 | 0.12 | ||
| 2042 | 16.20 | 13.21 | -3.00 | — | -0.14 | 0.00 | 0.14 | ||
| 2043 | 16.26 | 13.21 | -3.05 | — | -0.15 | 0.00 | 0.15 | ||
| 2044 | 16.32 | 13.22 | -3.10 | — | -0.17 | 0.00 | 0.17 | ||
| 2045 | 16.39 | 13.22 | -3.17 | — | -0.19 | 0.00 | 0.19 | ||
| 2046 | 16.43 | 13.23 | -3.20 | — | -0.21 | 0.00 | 0.21 | ||
| 2047 | 16.48 | 13.23 | -3.25 | — | -0.22 | -0.00 | 0.22 | ||
| 2048 | 16.53 | 13.24 | -3.29 | — | -0.24 | -0.00 | 0.24 | ||
| 2049 | 16.58 | 13.24 | -3.34 | — | -0.26 | -0.00 | 0.26 | ||
| 2050 | 16.65 | 13.25 | -3.40 | — | -0.28 | -0.00 | 0.28 | ||
| 2051 | 16.72 | 13.25 | -3.46 | — | -0.30 | -0.00 | 0.30 | ||
| 2052 | 16.80 | 13.26 | -3.54 | — | -0.32 | -0.00 | 0.32 | ||
| 2053 | 16.89 | 13.26 | -3.63 | — | -0.35 | -0.00 | 0.34 | ||
| 2054 | 16.98 | 13.27 | -3.71 | — | -0.37 | -0.00 | 0.37 | ||
| 2055 | 17.09 | 13.28 | -3.81 | — | -0.39 | -0.00 | 0.39 | ||
| 2056 | 17.19 | 13.29 | -3.90 | — | -0.42 | -0.00 | 0.42 | ||
| 2057 | 17.30 | 13.30 | -4.00 | — | -0.44 | -0.00 | 0.44 | ||
| 2058 | 17.41 | 13.30 | -4.11 | — | -0.47 | -0.00 | 0.46 | ||
| 2059 | 17.52 | 13.31 | -4.21 | — | -0.49 | -0.00 | 0.49 | ||
| 2060 | 17.63 | 13.32 | -4.31 | — | -0.52 | -0.00 | 0.51 | ||
| 2061 | 17.74 | 13.33 | -4.41 | — | -0.54 | -0.00 | 0.53 | ||
| 2062 | 17.84 | 13.33 | -4.50 | — | -0.56 | -0.01 | 0.55 | ||
| 2063 | 17.93 | 13.34 | -4.59 | — | -0.58 | -0.01 | 0.58 | ||
| 2064 | 18.02 | 13.35 | -4.67 | — | -0.61 | -0.01 | 0.60 | ||
| 2065 | 18.11 | 13.36 | -4.76 | — | -0.63 | -0.01 | 0.62 | ||
| 2066 | 18.20 | 13.36 | -4.84 | — | -0.65 | -0.01 | 0.65 | ||
| 2067 | 18.29 | 13.37 | -4.92 | — | -0.68 | -0.01 | 0.67 | ||
| 2068 | 18.38 | 13.38 | -5.01 | — | -0.70 | -0.01 | 0.69 | ||
| 2069 | 18.48 | 13.38 | -5.09 | — | -0.73 | -0.01 | 0.72 | ||
| 2070 | 18.57 | 13.39 | -5.18 | — | -0.75 | -0.01 | 0.74 | ||
| 2071 | 18.66 | 13.40 | -5.27 | — | -0.78 | -0.01 | 0.77 | ||
| 2072 | 18.75 | 13.40 | -5.35 | — | -0.81 | -0.01 | 0.80 | ||
| 2073 | 18.85 | 13.41 | -5.44 | — | -0.83 | -0.01 | 0.82 | ||
| 2074 | 18.94 | 13.42 | -5.52 | — | -0.85 | -0.01 | 0.84 | ||
| 2075 | 19.03 | 13.43 | -5.60 | — | -0.87 | -0.01 | 0.86 | ||
| 2076 | 19.11 | 13.43 | -5.68 | — | -0.89 | -0.01 | 0.88 | ||
| 2077 | 19.18 | 13.44 | -5.74 | — | -0.91 | -0.01 | 0.90 | ||
| 2078 | 19.24 | 13.44 | -5.80 | — | -0.92 | -0.01 | 0.91 | ||
| 2079 | 19.29 | 13.45 | -5.84 | — | -0.94 | -0.01 | 0.93 | ||
| 2080 | 19.33 | 13.45 | -5.88 | — | -0.96 | -0.01 | 0.95 | ||
| 2081 | 19.36 | 13.45 | -5.91 | — | -0.98 | -0.01 | 0.97 | ||
| 2082 | 19.38 | 13.46 | -5.93 | — | -1.00 | -0.01 | 0.99 | ||
| 2083 | 19.40 | 13.46 | -5.94 | — | -1.02 | -0.01 | 1.00 | ||
| 2084 | 19.41 | 13.46 | -5.95 | — | -1.03 | -0.01 | 1.02 | ||
| 2085 | 19.40 | 13.46 | -5.94 | — | -1.05 | -0.01 | 1.04 | ||
| 2086 | 19.39 | 13.46 | -5.93 | — | -1.06 | -0.01 | 1.05 | ||
| 2087 | 19.36 | 13.46 | -5.90 | — | -1.08 | -0.01 | 1.06 | ||
| 2088 | 19.32 | 13.46 | -5.86 | — | -1.09 | -0.01 | 1.08 | ||
| 2089 | 19.28 | 13.46 | -5.82 | — | -1.10 | -0.01 | 1.09 | ||
| 2090 | 19.23 | 13.45 | -5.77 | — | -1.12 | -0.01 | 1.10 | ||
| 2091 | 19.18 | 13.45 | -5.73 | — | -1.13 | -0.01 | 1.11 | ||
| 2092 | 19.13 | 13.45 | -5.68 | — | -1.14 | -0.02 | 1.12 | ||
| 2093 | 19.07 | 13.45 | -5.63 | — | -1.15 | -0.02 | 1.14 | ||
| 2094 | 19.01 | 13.45 | -5.57 | — | -1.17 | -0.02 | 1.16 | ||
| 2095 | 18.96 | 13.44 | -5.51 | — | -1.19 | -0.02 | 1.18 | ||
| 2096 | 18.89 | 13.44 | -5.45 | — | -1.22 | -0.02 | 1.21 | ||
| 2097 | 18.83 | 13.44 | -5.39 | — | -1.25 | -0.02 | 1.23 | ||
| 2098 | 18.79 | 13.44 | -5.35 | — | -1.27 | -0.02 | 1.25 | ||
| 2099 | 18.75 | 13.44 | -5.31 | — | -1.29 | -0.02 | 1.27 | ||
| 2100 | 18.73 | 13.44 | -5.29 | — | -1.30 | -0.02 | 1.28 | ||
| 2101 | 18.72 | 13.44 | -5.28 | — | -1.30 | -0.02 | 1.29 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2026-2100 | 17.58% | 13.67% | -3.91% | 2034 | -0.52% | -0.01% | 0.51% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2026 Trustees Report.