Description of Proposed Provision:
C1.3: After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, 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.

Financial Estimates for the OASDI Trust Fund Program

  Proposal   Change from Current Law
  Expressed as a percentage of
current-law taxable payroll

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

Cost
rate
Income
rate
Annual
balance
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8512.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.000.000.00
202214.2613.02-1.23
230
0.000.000.00
202314.5413.05-1.49
215
-0.00-0.000.00
202414.8213.08-1.73
199
-0.01-0.000.01
202515.0913.10-1.98
183
-0.01-0.000.01
202615.3513.13-2.22
166
-0.02-0.000.02
202715.5913.15-2.44
148
-0.02-0.000.02
202815.8213.17-2.66
131
-0.03-0.000.03
202916.0313.18-2.85
113
-0.03-0.000.03
203016.2313.19-3.03
95
-0.04-0.000.04
203116.3913.21-3.18
77
-0.06-0.000.06
203216.5313.22-3.32
58
-0.07-0.000.07
203316.6513.22-3.43
39
-0.09-0.000.09
203416.7413.23-3.51
19
-0.11-0.000.10
203516.8113.24-3.57
----
-0.12-0.000.12
203616.8513.24-3.61
----
-0.14-0.000.14
203716.8613.24-3.62
----
-0.16-0.010.15
203816.8413.24-3.60
----
-0.18-0.010.17
203916.8013.24-3.55
----
-0.20-0.010.19
204016.7413.24-3.51
----
-0.22-0.010.21
204116.6813.24-3.44
----
-0.23-0.010.23
204216.6113.23-3.37
----
-0.25-0.010.25
204316.5313.23-3.30
----
-0.28-0.010.27
204416.4613.23-3.23
----
-0.30-0.010.29
204516.4013.22-3.17
----
-0.32-0.010.31
204616.3313.22-3.11
----
-0.35-0.010.33
204716.2713.22-3.05
----
-0.37-0.010.36
204816.2213.22-3.00
----
-0.40-0.020.38
204916.1613.22-2.95
----
-0.43-0.020.41
205016.1113.21-2.90
----
-0.46-0.020.44
205116.0713.21-2.85
----
-0.49-0.020.47
205216.0413.21-2.82
----
-0.52-0.020.50
205316.0213.21-2.81
----
-0.55-0.020.53
205416.0113.21-2.80
----
-0.58-0.020.56
205516.0113.21-2.80
----
-0.61-0.030.59
205616.0113.21-2.80
----
-0.64-0.030.62
205716.0213.21-2.81
----
-0.67-0.030.64
205816.0413.22-2.82
----
-0.70-0.030.67
205916.0513.22-2.84
----
-0.73-0.030.70
206016.0713.22-2.85
----
-0.76-0.030.73
206116.0913.22-2.87
----
-0.78-0.030.75
206216.1113.22-2.89
----
-0.81-0.040.78
206316.1313.23-2.90
----
-0.84-0.040.81
206416.1413.23-2.92
----
-0.87-0.040.83
206516.1613.23-2.94
----
-0.90-0.040.86
206616.1913.23-2.96
----
-0.93-0.040.89
206716.2113.23-2.98
----
-0.96-0.040.92
206816.2313.23-3.00
----
-0.99-0.040.94
206916.2613.24-3.02
----
-1.02-0.050.97
207016.2813.24-3.04
----
-1.05-0.051.00
207116.2913.24-3.05
----
-1.08-0.051.03
207216.3013.24-3.06
----
-1.11-0.051.06
207316.3113.24-3.07
----
-1.14-0.051.09
207416.3113.24-3.07
----
-1.17-0.051.11
207516.3113.24-3.07
----
-1.19-0.051.14
207616.3113.24-3.07
----
-1.21-0.061.15
207716.3013.24-3.05
----
-1.23-0.061.17
207816.2713.24-3.03
----
-1.25-0.061.20
207916.2313.24-3.00
----
-1.28-0.061.22
208016.2013.24-2.96
----
-1.31-0.061.25
208116.1713.24-2.94
----
-1.33-0.061.27
208216.1513.23-2.91
----
-1.36-0.061.30
208316.1213.23-2.89
----
-1.39-0.061.32
208416.1113.23-2.87
----
-1.42-0.071.36
208516.0913.23-2.86
----
-1.46-0.071.39
208616.0713.23-2.84
----
-1.51-0.071.44
208716.0713.23-2.84
----
-1.55-0.071.48
208816.0713.23-2.84
----
-1.58-0.081.51
208916.1013.23-2.87
----
-1.60-0.081.53
209016.1313.23-2.90
----
-1.62-0.081.54
209116.1413.23-2.91
----
-1.66-0.081.58
209216.1513.23-2.91
----
-1.69-0.081.61


Summarized Estimates

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

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
2017-2091 16.10% 13.81% -2.29%
2034
-0.56% -0.02% 0.54%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2017 Trustees Report.