Proposed Provision: Increase the normal retirement age (NRA) from 66 to 67 one year earlier than current law, starting for those reaching age 62 in 2016 and ending for those reaching age 62 in 2021. Then, after 2021, index the NRA to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20).

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

Year Present Law Provision
2008359359
2009369369
2010378378
2011386386
2012392392
2013394394
2014395395
2015393393
2016390390
2017385385
2018378379
2019371372
2020361363
2021351353
2022341342
2023329331
2024316318
2025302304
2026287290
2027272275
2028256259
2029239242
2030221225
2031203207
2032185190
2033166171
2034147153
2035127134
2036108116
20378897
20386778
20394758
20402639
2041620
2042-151
2043-36-19
2044-57-38
2045-78-58
2046-100-77
2047-121-96
2048-143-116
2049-165-136
2050-187-155
2051-209-175
2052-232-195
2053-254-215
2054-277-235
2055-300-255
2056-324-275
2057-347-295
2058-372-315
2059-396-336
2060-421-357
2061-447-378
2062-472-400
2063-498-422
2064-525-444
2065-552-466
2066-579-489
2067-607-512
2068-635-535
2069-664-558
2070-693-581
2071-722-603
2072-752-626
2073-782-649
2074-813-673
2075-845-698
2076-876-723
2077-909-748
2078-942-774
2079-975-801
2080-1009-828
2081-1044-856
2082-1079-884
2083-1114-912
2084-1151-941
2085-1188-971
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