Proposed Provision: Increase the normal retirement age (NRA) 3 months per year starting for those age 62 in 2017 until the NRA reaches 70 in 2032. Thereafter, index the 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) from 62 to 64 at the same time the NRA increases from 67 to 69; that is, for those attaining age 62 in 2021 through 2028. Keep EEA at 64 thereafter.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2011 | 353 | 353 |
| 2012 | 347 | 347 |
| 2013 | 341 | 341 |
| 2014 | 334 | 334 |
| 2015 | 328 | 328 |
| 2016 | 321 | 321 |
| 2017 | 314 | 314 |
| 2018 | 306 | 307 |
| 2019 | 296 | 298 |
| 2020 | 284 | 287 |
| 2021 | 272 | 276 |
| 2022 | 259 | 264 |
| 2023 | 245 | 252 |
| 2024 | 230 | 239 |
| 2025 | 214 | 225 |
| 2026 | 198 | 211 |
| 2027 | 181 | 197 |
| 2028 | 164 | 183 |
| 2029 | 145 | 169 |
| 2030 | 127 | 154 |
| 2031 | 107 | 139 |
| 2032 | 87 | 125 |
| 2033 | 67 | 110 |
| 2034 | 46 | 95 |
| 2035 | 25 | 81 |
| 2036 | 4 | 66 |
| 2037 | -18 | 52 |
| 2038 | -40 | 38 |
| 2039 | -62 | 24 |
| 2040 | -85 | 10 |
| 2041 | -108 | -4 |
| 2042 | -130 | -17 |
| 2043 | -153 | -30 |
| 2044 | -176 | -43 |
| 2045 | -200 | -56 |
| 2046 | -223 | -69 |
| 2047 | -247 | -82 |
| 2048 | -271 | -94 |
| 2049 | -295 | -107 |
| 2050 | -319 | -119 |
| 2051 | -343 | -131 |
| 2052 | -368 | -143 |
| 2053 | -393 | -155 |
| 2054 | -418 | -166 |
| 2055 | -443 | -178 |
| 2056 | -468 | -189 |
| 2057 | -494 | -201 |
| 2058 | -521 | -212 |
| 2059 | -548 | -224 |
| 2060 | -575 | -236 |
| 2061 | -602 | -248 |
| 2062 | -630 | -260 |
| 2063 | -659 | -272 |
| 2064 | -687 | -284 |
| 2065 | -716 | -297 |
| 2066 | -746 | -309 |
| 2067 | -775 | -321 |
| 2068 | -805 | -334 |
| 2069 | -835 | -346 |
| 2070 | -866 | -359 |
| 2071 | -897 | -372 |
| 2072 | -928 | -385 |
| 2073 | -960 | -398 |
| 2074 | -992 | -411 |
| 2075 | -1025 | -425 |
| 2076 | -1058 | -439 |
| 2077 | -1092 | -453 |
| 2078 | -1126 | -467 |
| 2079 | -1161 | -482 |
| 2080 | -1196 | -497 |
| 2081 | -1232 | -512 |
| 2082 | -1268 | -527 |
| 2083 | -1305 | -542 |
| 2084 | -1342 | -558 |
| 2085 | -1380 | -574 |
| 2086 | -1419 | -590 |
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