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Detailed Single Year Tables

Description of Proposed Provision:
Increase the normal retirement age (NRA) from 66 to 67 one year earlier than current law, starting for those reaching age 62 in 2016 and ending for those reaching age 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).

 

Financial Estimates for the OASDI Trust Fund Program

 
  Proposal
  Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
present-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.12
353
0.000.000.00
201212.8412.870.03
350
0.000.000.00
201312.8212.900.08
346
0.000.000.00
201412.8612.920.06
341
0.000.000.00
201512.9812.94-0.04
335
0.000.000.00
201613.1012.96-0.14
330
0.000.000.00
201713.3012.99-0.31
324
-0.010.000.01
201813.5413.02-0.52
317
-0.010.000.01
201913.8313.03-0.80
309
-0.010.000.01
202014.1313.05-1.09
300
-0.010.000.01
202114.4413.07-1.37
289
-0.020.000.02
202214.7313.08-1.64
278
-0.020.000.02
202315.0113.10-1.91
265
-0.020.000.02
202415.2713.12-2.15
252
-0.020.000.02
202515.5213.13-2.38
238
-0.020.000.02
202615.7313.15-2.59
223
-0.020.000.02
202715.9213.16-2.76
207
-0.030.000.03
202816.0913.17-2.92
190
-0.040.000.04
202916.2313.18-3.04
174
-0.060.000.06
203016.3313.19-3.14
156
-0.080.000.07
203116.4113.20-3.21
139
-0.100.000.09
203216.4713.20-3.27
121
-0.120.000.11
203316.5213.21-3.31
102
-0.140.000.13
203416.5413.21-3.33
84
-0.16-0.010.16
203516.5513.22-3.33
65
-0.18-0.010.18
203616.5413.22-3.32
46
-0.20-0.010.19
203716.5113.22-3.29
27
-0.22-0.010.21
203816.4713.22-3.25
8
-0.24-0.010.24
203916.4113.22-3.19
----
-0.27-0.010.26
204016.3513.22-3.13
----
-0.29-0.010.28
204116.2813.22-3.06
----
-0.32-0.010.30
204216.2113.22-3.00
----
-0.34-0.010.33
204316.1513.21-2.93
----
-0.36-0.010.35
204416.0813.21-2.87
----
-0.39-0.010.38
204516.0313.21-2.82
----
-0.41-0.020.40
204615.9813.21-2.77
----
-0.44-0.020.42
204715.9413.21-2.73
----
-0.46-0.020.44
204815.8913.21-2.68
----
-0.49-0.020.47
204915.8413.21-2.63
----
-0.51-0.020.49
205015.7913.20-2.59
----
-0.54-0.020.52
205115.7513.20-2.55
----
-0.57-0.020.55
205215.7213.20-2.52
----
-0.60-0.020.58
205315.7013.20-2.50
----
-0.63-0.030.61
205415.6813.20-2.48
----
-0.66-0.030.64
205515.6813.20-2.47
----
-0.69-0.030.66
205615.6813.20-2.47
----
-0.72-0.030.69
205715.6713.21-2.47
----
-0.74-0.030.71
205815.6713.21-2.46
----
-0.77-0.030.74
205915.6613.21-2.46
----
-0.80-0.030.76
206015.6613.21-2.45
----
-0.83-0.030.79
206115.6513.21-2.44
----
-0.86-0.040.82
206215.6513.21-2.44
----
-0.89-0.040.85
206315.6413.21-2.43
----
-0.92-0.040.88
206415.6413.21-2.43
----
-0.95-0.040.91
206515.6413.21-2.43
----
-0.97-0.040.93
206615.6513.21-2.44
----
-1.00-0.040.95
206715.6613.21-2.45
----
-1.02-0.040.98
206815.6713.22-2.46
----
-1.05-0.051.01
206915.6813.22-2.46
----
-1.08-0.051.04
207015.6913.22-2.47
----
-1.12-0.051.07
207115.6913.22-2.47
----
-1.16-0.051.11
207215.6913.22-2.47
----
-1.20-0.051.15
207315.7013.22-2.48
----
-1.24-0.051.19
207415.7113.22-2.49
----
-1.27-0.051.22
207515.7213.23-2.50
----
-1.30-0.061.25
207615.7513.23-2.52
----
-1.32-0.061.27
207715.7713.23-2.54
----
-1.35-0.061.29
207815.7813.23-2.55
----
-1.38-0.061.32
207915.7913.23-2.56
----
-1.42-0.061.35
208015.8013.23-2.56
----
-1.45-0.061.39
208115.7913.23-2.55
----
-1.51-0.071.44
208215.7913.24-2.55
----
-1.55-0.071.48
208315.8013.24-2.56
----
-1.59-0.071.52
208415.8113.24-2.58
----
-1.61-0.071.54
208515.8313.24-2.59
----
-1.64-0.071.57



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 15.47% 13.99% -1.48%
2038
-0.46% -0.02% 0.44%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 17, 2011