Summary Measures and Graphs

Description of Proposed Provision:
C2.6: Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 in 2021-2022 to 68 and 63, respectively, and then by 3 months per year in 2023-2026 to 69 and 64, respectively.

Estimates based on the intermediate assumptions of the 2020 Trustees Report
Summary Measures
Current law
[percent of payroll]		 Change from current law
[percent of payroll]		 Shortfall eliminated
Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year		 Long-range
actuarial
balance		 Annual
balance in
75th year
-3.21 -4.51 0.90 1.11 28% 25%

graph of OASDI cost rates and income rates by year, under current law and provision. click on graph to view underlying data. graph of OASDI trust fund ratio by year, under current law and provision. click on graph to view underlying data.