Proposed Provision: C2.3. Starting for those age 62 in 2026, 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, increase the earliest eligibility age (EEA) by the same amount as the NRA starting for those age 62 in 2026 so as to maintain a 5 year difference between the two ages. Include a "hardship exemption" with no EEA/NRA change for a worker with 25 years of earnings (with 4 quarters of coverage each), and average indexed monthly earnings (AIME) less than 250 percent of the poverty level (wage-indexed from 2013). The hardship exemption is phased out for those with AIME above 400 percent of the poverty level.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2025169169
2026149149
2027131131
2028113113
20299596
20307878
20316061
20324344
20332627
2034910
2035-9-7
2036-27-25
2037-45-43
2038-63-61
2039-83-80
2040-102-99
2041-122-119
2042-143-139
2043-164-159
2044-185-180
2045-206-200
2046-228-221
2047-250-242
2048-272-264
2049-295-285
2050-317-307
2051-340-328
2052-363-350
2053-386-372
2054-409-394
2055-433-417
2056-457-439
2057-481-462
2058-505-485
2059-530-508
2060-556-532
2061-582-557
2062-609-582
2063-636-607
2064-664-633
2065-692-660
2066-721-686
2067-750-714
2068-780-741
2069-810-769
2070-840-797
2071-871-826
2072-903-855
2073-935-885
2074-967-915
2075-1000-945
2076-1035-977
2077-1070-1009
2078-1106-1042
2079-1142-1076
2080-1180-1110
2081-1219-1146
2082-1258-1182
2083-1298-1218
2084-1338-1256
2085-1380-1294
2086-1423-1332
2087-1466-1372
2088-1510-1412
2089-1554-1452
2090-1599-1493
2091-1643-1534
2092-1687-1575
2093-1731-1615
2094-1774-1655
2095-1816-1694
2096-1858-1734
2097-1900-1773
2098-1941-1810
2099-1982-1847
2100-2022-1882
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