Proposed Provision: Increase the normal retirement age (NRA) for those reaching age 62 in 2018 and later. For those reaching age 62 in 2018, the NRA would be 66 years, 6 months. The NRA would increase 2 months per year for those reaching age 62 in 2019, 2020, and 2021, reaching an NRA of 67 for those turning 62 in 2021.Then, after 2021, index the NRA to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20).
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2010 | 355 | 355 |
| 2011 | 353 | 353 |
| 2012 | 350 | 350 |
| 2013 | 346 | 346 |
| 2014 | 341 | 341 |
| 2015 | 335 | 335 |
| 2016 | 330 | 330 |
| 2017 | 324 | 324 |
| 2018 | 317 | 317 |
| 2019 | 309 | 309 |
| 2020 | 299 | 299 |
| 2021 | 289 | 289 |
| 2022 | 277 | 277 |
| 2023 | 264 | 265 |
| 2024 | 251 | 251 |
| 2025 | 237 | 237 |
| 2026 | 221 | 222 |
| 2027 | 205 | 206 |
| 2028 | 189 | 189 |
| 2029 | 171 | 172 |
| 2030 | 154 | 155 |
| 2031 | 136 | 137 |
| 2032 | 117 | 119 |
| 2033 | 98 | 101 |
| 2034 | 79 | 83 |
| 2035 | 59 | 64 |
| 2036 | 39 | 45 |
| 2037 | 19 | 26 |
| 2038 | -1 | 6 |
| 2039 | -21 | -13 |
| 2040 | -42 | -32 |
| 2041 | -63 | -52 |
| 2042 | -84 | -71 |
| 2043 | -105 | -90 |
| 2044 | -126 | -110 |
| 2045 | -147 | -129 |
| 2046 | -168 | -148 |
| 2047 | -189 | -167 |
| 2048 | -211 | -187 |
| 2049 | -233 | -206 |
| 2050 | -255 | -226 |
| 2051 | -277 | -245 |
| 2052 | -299 | -265 |
| 2053 | -321 | -284 |
| 2054 | -344 | -304 |
| 2055 | -366 | -324 |
| 2056 | -389 | -343 |
| 2057 | -412 | -363 |
| 2058 | -436 | -383 |
| 2059 | -460 | -404 |
| 2060 | -485 | -424 |
| 2061 | -509 | -445 |
| 2062 | -534 | -466 |
| 2063 | -560 | -488 |
| 2064 | -586 | -509 |
| 2065 | -612 | -531 |
| 2066 | -638 | -553 |
| 2067 | -665 | -575 |
| 2068 | -692 | -597 |
| 2069 | -720 | -620 |
| 2070 | -748 | -643 |
| 2071 | -776 | -667 |
| 2072 | -805 | -691 |
| 2073 | -834 | -715 |
| 2074 | -864 | -739 |
| 2075 | -894 | -764 |
| 2076 | -925 | -788 |
| 2077 | -957 | -813 |
| 2078 | -989 | -839 |
| 2079 | -1021 | -865 |
| 2080 | -1054 | -892 |
| 2081 | -1087 | -920 |
| 2082 | -1121 | -948 |
| 2083 | -1156 | -975 |
| 2084 | -1191 | -1003 |
| 2085 | -1227 | -1031 |
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