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 |
| 2025 | 169 | 169 |
| 2026 | 149 | 149 |
| 2027 | 131 | 131 |
| 2028 | 113 | 113 |
| 2029 | 95 | 96 |
| 2030 | 78 | 78 |
| 2031 | 60 | 61 |
| 2032 | 43 | 44 |
| 2033 | 26 | 27 |
| 2034 | 9 | 10 |
| 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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