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 |
| 2014 | 320 | 320 |
| 2015 | 306 | 306 |
| 2016 | 292 | 292 |
| 2017 | 277 | 278 |
| 2018 | 262 | 263 |
| 2019 | 248 | 250 |
| 2020 | 233 | 236 |
| 2021 | 219 | 222 |
| 2022 | 203 | 208 |
| 2023 | 187 | 193 |
| 2024 | 171 | 178 |
| 2025 | 154 | 162 |
| 2026 | 137 | 147 |
| 2027 | 119 | 132 |
| 2028 | 101 | 116 |
| 2029 | 83 | 101 |
| 2030 | 64 | 85 |
| 2031 | 44 | 69 |
| 2032 | 23 | 53 |
| 2033 | 2 | 36 |
| 2034 | -20 | 19 |
| 2035 | -42 | 2 |
| 2036 | -65 | -15 |
| 2037 | -88 | -32 |
| 2038 | -112 | -49 |
| 2039 | -136 | -66 |
| 2040 | -160 | -83 |
| 2041 | -185 | -100 |
| 2042 | -210 | -117 |
| 2043 | -235 | -134 |
| 2044 | -260 | -151 |
| 2045 | -285 | -168 |
| 2046 | -310 | -184 |
| 2047 | -336 | -201 |
| 2048 | -362 | -218 |
| 2049 | -388 | -235 |
| 2050 | -415 | -252 |
| 2051 | -442 | -269 |
| 2052 | -468 | -286 |
| 2053 | -495 | -303 |
| 2054 | -523 | -319 |
| 2055 | -550 | -336 |
| 2056 | -578 | -352 |
| 2057 | -606 | -369 |
| 2058 | -635 | -387 |
| 2059 | -664 | -404 |
| 2060 | -694 | -422 |
| 2061 | -725 | -441 |
| 2062 | -756 | -460 |
| 2063 | -787 | -479 |
| 2064 | -819 | -499 |
| 2065 | -852 | -519 |
| 2066 | -885 | -539 |
| 2067 | -918 | -559 |
| 2068 | -952 | -580 |
| 2069 | -987 | -601 |
| 2070 | -1022 | -622 |
| 2071 | -1057 | -644 |
| 2072 | -1094 | -666 |
| 2073 | -1132 | -689 |
| 2074 | -1171 | -712 |
| 2075 | -1210 | -737 |
| 2076 | -1251 | -762 |
| 2077 | -1293 | -787 |
| 2078 | -1335 | -812 |
| 2079 | -1378 | -838 |
| 2080 | -1421 | -864 |
| 2081 | -1464 | -891 |
| 2082 | -1507 | -917 |
| 2083 | -1550 | -942 |
| 2084 | -1593 | -967 |
| 2085 | -1636 | -992 |
| 2086 | -1680 | -1017 |
| 2087 | -1724 | -1042 |
| 2088 | -1769 | -1067 |
| 2089 | -1814 | -1094 |
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