Proposed Provision: Shorten the hiatus in the normal retirement age (speed up the increase to age 67). That is, increase the NRA by 2 months per year for those attaining age 62 in 2012 through 2017, five years earlier than in current law, which would increase the NRA 2 months per year for those reaching age 62 in 2017 through 2022.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
200512.712.711.111.1
200612.712.711.011.0
200712.712.710.910.9
200812.812.811.011.0
200912.812.811.111.1
201012.812.811.311.3
201112.812.811.411.4
201212.912.911.711.7
201312.912.911.911.9
201412.912.912.212.2
201512.912.912.512.4
201613.013.012.812.7
201713.013.013.113.0
201813.013.013.413.2
201913.013.013.713.5
202013.013.014.013.8
202113.113.014.314.1
202213.113.114.714.4
202313.113.115.014.8
202413.113.115.315.1
202513.113.115.515.4
202613.113.115.815.7
202713.213.116.115.9
202813.213.216.316.2
202913.213.216.516.4
203013.213.216.716.6
203113.213.216.916.8
203213.213.217.117.0
203313.213.217.217.1
203413.213.217.317.2
203513.213.217.417.3
203613.313.217.417.3
203713.313.217.517.4
203813.313.317.517.4
203913.313.317.517.4
204013.313.317.517.4
204113.313.317.517.4
204213.313.317.517.4
204313.313.317.517.5
204413.313.317.517.5
204513.313.317.517.5
204613.313.317.617.5
204713.313.317.617.5
204813.313.317.617.6
204913.313.317.617.6
205013.313.317.617.6
205113.313.317.717.7
205213.313.317.717.7
205313.313.317.817.7
205413.313.317.817.8
205513.313.317.817.8
205613.313.317.917.9
205713.313.317.917.9
205813.313.318.018.0
205913.313.318.118.1
206013.313.318.118.1
206113.313.318.218.2
206213.313.318.218.2
206313.313.318.318.3
206413.313.318.318.3
206513.313.318.418.4
206613.313.318.518.5
206713.313.318.518.5
206813.313.318.618.6
206913.313.318.618.6
207013.413.418.718.7
207113.413.418.718.7
207213.413.418.818.8
207313.413.418.818.8
207413.413.418.918.9
207513.413.418.918.9
207613.413.418.918.9
207713.413.419.019.0
207813.413.419.019.0
207913.413.419.119.1
208013.413.419.119.1
208113.413.419.219.2
208213.413.419.219.2
208313.413.419.319.3
208413.413.419.319.3
208513.413.419.419.4
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