Detailed Single Year Tables
Description of Proposed Provision:
C2.2: Starting for those age 62 in 2025, index the normal retirement age (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, raise the earliest eligibility age (EEA) for retired-workers, aged widow(er)s, and disabled widow(er)s by the same amount as the NRA starting for those attaining 62 in 2025.
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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.99 | 12.89 | -2.10 | 171 | -0.02 | 0.00 | 0.02 | ||
| 2026 | 15.17 | 13.07 | -2.10 | 153 | -0.03 | -0.00 | 0.03 | ||
| 2027 | 15.31 | 13.11 | -2.21 | 135 | -0.05 | -0.00 | 0.05 | ||
| 2028 | 15.35 | 13.13 | -2.22 | 118 | -0.06 | -0.00 | 0.06 | ||
| 2029 | 15.39 | 13.16 | -2.23 | 102 | -0.08 | -0.00 | 0.08 | ||
| 2030 | 15.43 | 13.18 | -2.25 | 86 | -0.10 | -0.00 | 0.09 | ||
| 2031 | 15.46 | 13.20 | -2.26 | 71 | -0.11 | -0.00 | 0.11 | ||
| 2032 | 15.47 | 13.22 | -2.26 | 56 | -0.13 | -0.00 | 0.13 | ||
| 2033 | 15.51 | 13.26 | -2.25 | 41 | -0.15 | -0.00 | 0.15 | ||
| 2034 | 15.61 | 13.27 | -2.33 | 27 | -0.17 | -0.00 | 0.16 | ||
| 2035 | 15.70 | 13.28 | -2.42 | 12 | -0.18 | -0.00 | 0.18 | ||
| 2036 | 15.79 | 13.29 | -2.50 | — | -0.20 | -0.00 | 0.19 | ||
| 2037 | 15.88 | 13.30 | -2.58 | — | -0.21 | -0.00 | 0.21 | ||
| 2038 | 15.95 | 13.31 | -2.64 | — | -0.22 | -0.00 | 0.22 | ||
| 2039 | 16.01 | 13.31 | -2.70 | — | -0.24 | -0.00 | 0.24 | ||
| 2040 | 16.07 | 13.32 | -2.75 | — | -0.25 | -0.00 | 0.25 | ||
| 2041 | 16.12 | 13.33 | -2.79 | — | -0.26 | -0.00 | 0.26 | ||
| 2042 | 16.16 | 13.33 | -2.83 | — | -0.28 | -0.00 | 0.27 | ||
| 2043 | 16.19 | 13.33 | -2.85 | — | -0.29 | -0.00 | 0.29 | ||
| 2044 | 16.21 | 13.34 | -2.87 | — | -0.31 | -0.00 | 0.31 | ||
| 2045 | 16.22 | 13.34 | -2.88 | — | -0.33 | -0.01 | 0.32 | ||
| 2046 | 16.24 | 13.34 | -2.89 | — | -0.35 | -0.01 | 0.34 | ||
| 2047 | 16.25 | 13.35 | -2.91 | — | -0.37 | -0.01 | 0.36 | ||
| 2048 | 16.27 | 13.35 | -2.92 | — | -0.39 | -0.01 | 0.39 | ||
| 2049 | 16.29 | 13.35 | -2.94 | — | -0.42 | -0.01 | 0.41 | ||
| 2050 | 16.31 | 13.36 | -2.96 | — | -0.45 | -0.01 | 0.44 | ||
| 2051 | 16.34 | 13.36 | -2.98 | — | -0.47 | -0.01 | 0.47 | ||
| 2052 | 16.37 | 13.36 | -3.00 | — | -0.50 | -0.01 | 0.49 | ||
| 2053 | 16.40 | 13.37 | -3.03 | — | -0.53 | -0.01 | 0.52 | ||
| 2054 | 16.44 | 13.37 | -3.07 | — | -0.56 | -0.01 | 0.55 | ||
| 2055 | 16.49 | 13.38 | -3.11 | — | -0.59 | -0.01 | 0.58 | ||
| 2056 | 16.54 | 13.39 | -3.15 | — | -0.62 | -0.01 | 0.61 | ||
| 2057 | 16.59 | 13.39 | -3.20 | — | -0.65 | -0.01 | 0.64 | ||
| 2058 | 16.65 | 13.40 | -3.25 | — | -0.68 | -0.01 | 0.67 | ||
| 2059 | 16.71 | 13.40 | -3.31 | — | -0.71 | -0.01 | 0.69 | ||
| 2060 | 16.77 | 13.41 | -3.36 | — | -0.73 | -0.01 | 0.72 | ||
| 2061 | 16.82 | 13.42 | -3.41 | — | -0.76 | -0.01 | 0.75 | ||
| 2062 | 16.87 | 13.42 | -3.45 | — | -0.79 | -0.02 | 0.77 | ||
| 2063 | 16.91 | 13.43 | -3.48 | — | -0.81 | -0.02 | 0.80 | ||
| 2064 | 16.95 | 13.43 | -3.52 | — | -0.84 | -0.02 | 0.82 | ||
| 2065 | 16.99 | 13.44 | -3.56 | — | -0.86 | -0.02 | 0.84 | ||
| 2066 | 17.03 | 13.44 | -3.59 | — | -0.88 | -0.02 | 0.86 | ||
| 2067 | 17.08 | 13.44 | -3.63 | — | -0.91 | -0.02 | 0.89 | ||
| 2068 | 17.12 | 13.45 | -3.67 | — | -0.93 | -0.02 | 0.91 | ||
| 2069 | 17.16 | 13.45 | -3.71 | — | -0.95 | -0.02 | 0.93 | ||
| 2070 | 17.21 | 13.46 | -3.75 | — | -0.97 | -0.02 | 0.95 | ||
| 2071 | 17.25 | 13.46 | -3.79 | — | -1.00 | -0.02 | 0.98 | ||
| 2072 | 17.29 | 13.47 | -3.82 | — | -1.02 | -0.02 | 1.00 | ||
| 2073 | 17.33 | 13.47 | -3.86 | — | -1.04 | -0.02 | 1.02 | ||
| 2074 | 17.37 | 13.48 | -3.89 | — | -1.06 | -0.02 | 1.04 | ||
| 2075 | 17.40 | 13.48 | -3.92 | — | -1.08 | -0.02 | 1.06 | ||
| 2076 | 17.42 | 13.49 | -3.94 | — | -1.10 | -0.02 | 1.08 | ||
| 2077 | 17.44 | 13.49 | -3.95 | — | -1.12 | -0.02 | 1.10 | ||
| 2078 | 17.45 | 13.49 | -3.96 | — | -1.13 | -0.02 | 1.11 | ||
| 2079 | 17.45 | 13.49 | -3.96 | — | -1.15 | -0.02 | 1.12 | ||
| 2080 | 17.44 | 13.49 | -3.95 | — | -1.16 | -0.02 | 1.13 | ||
| 2081 | 17.43 | 13.49 | -3.93 | — | -1.16 | -0.02 | 1.14 | ||
| 2082 | 17.40 | 13.49 | -3.91 | — | -1.17 | -0.02 | 1.15 | ||
| 2083 | 17.37 | 13.49 | -3.88 | — | -1.18 | -0.03 | 1.16 | ||
| 2084 | 17.32 | 13.49 | -3.83 | — | -1.19 | -0.03 | 1.17 | ||
| 2085 | 17.26 | 13.48 | -3.78 | — | -1.21 | -0.03 | 1.18 | ||
| 2086 | 17.20 | 13.48 | -3.72 | — | -1.22 | -0.03 | 1.19 | ||
| 2087 | 17.13 | 13.48 | -3.65 | — | -1.24 | -0.03 | 1.21 | ||
| 2088 | 17.05 | 13.47 | -3.58 | — | -1.26 | -0.03 | 1.23 | ||
| 2089 | 16.97 | 13.47 | -3.50 | — | -1.28 | -0.03 | 1.25 | ||
| 2090 | 16.89 | 13.46 | -3.42 | — | -1.30 | -0.03 | 1.27 | ||
| 2091 | 16.82 | 13.46 | -3.36 | — | -1.32 | -0.03 | 1.29 | ||
| 2092 | 16.76 | 13.46 | -3.30 | — | -1.35 | -0.03 | 1.32 | ||
| 2093 | 16.70 | 13.46 | -3.25 | — | -1.38 | -0.03 | 1.35 | ||
| 2094 | 16.66 | 13.46 | -3.21 | — | -1.41 | -0.03 | 1.38 | ||
| 2095 | 16.63 | 13.46 | -3.17 | — | -1.44 | -0.03 | 1.41 | ||
| 2096 | 16.59 | 13.45 | -3.14 | — | -1.48 | -0.03 | 1.45 | ||
| 2097 | 16.58 | 13.46 | -3.12 | — | -1.52 | -0.03 | 1.49 | ||
| 2098 | 16.58 | 13.46 | -3.12 | — | -1.54 | -0.03 | 1.51 | ||
| 2099 | 16.60 | 13.46 | -3.14 | — | -1.56 | -0.03 | 1.53 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 16.62% | 13.79% | -2.84% | 2035 | -0.67% | -0.01% | 0.66% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.