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Summary of Provisions That Would Change the Social Security Program

Description of Proposed Provisions:
Provisions Affecting Retirement Age

Estimates based on the intermediate assumptions of the 2005 Trustees Report

  Change from present law Results with this provision
Long-range
actuarial
balance
Annual
balance in
75th year
Long-range
actuarial
balance
Annual
balance in
75th year
Present Law, Alternative II.
-1.92 -5.70
C1 Eliminate the hiatus in the normal retirement age (speed up the increase to age 67).
graph | table | pdf-graph | pdf-table
0.14 0.00 -1.78 -5.70
C2 Eliminate the hiatus in the normal retirement age (speed up the increase to age 67) and then index the normal retirement age (by 1 month every 2 years) until the NRA reaches age 68.
graph | table | pdf-graph | pdf-table
0.52 0.76 -1.40 -4.94
C3 Eliminate the hiatus in the normal retirement age (speed up the increase to age 67) and then index the normal retirement age (by 1 month every 2 years) until the NRA reaches age 70.
graph | table | pdf-graph | pdf-table
0.69 1.61 -1.24 -4.09
C4 Eliminate the hiatus in the normal retirement age (speed up the increase to age 67) andthen increase the NRA 2 months per year until the NRA reaches age 68.
graph | table | pdf-graph | pdf-table
0.62 0.76 -1.30 -4.94
C5 Shorten the hiatus in the normal retirement age (speed up the increase to age 67). That is, increase the NRA by 2 months per year for those attaining age 62 in 2012 through 2017, five years earlier than in current law, which would increase the NRA 2 months per year for those reaching age 62 in 2017 through 2022.
graph | table | pdf-graph | pdf-table
0.07 0.00 -1.86 -5.70
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Last reviewed or modified Tuesday Dec 11, 2007