Proposed Provision: Increase the normal retirement age (NRA) 3 months per year starting for those age 62 in 2017 until the NRA reaches 70 in 2032. Thereafter, index the 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) from 62 to 64 at the same time the NRA increases from 67 to 69; that is, for those attaining age 62 in 2021 through 2028. Keep EEA at 64 thereafter.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2012 | 340 | 340 |
| 2013 | 329 | 329 |
| 2014 | 315 | 315 |
| 2015 | 302 | 302 |
| 2016 | 290 | 290 |
| 2017 | 277 | 278 |
| 2018 | 265 | 267 |
| 2019 | 253 | 255 |
| 2020 | 240 | 243 |
| 2021 | 227 | 231 |
| 2022 | 212 | 217 |
| 2023 | 197 | 203 |
| 2024 | 181 | 189 |
| 2025 | 164 | 173 |
| 2026 | 147 | 158 |
| 2027 | 129 | 143 |
| 2028 | 110 | 127 |
| 2029 | 90 | 110 |
| 2030 | 70 | 93 |
| 2031 | 49 | 76 |
| 2032 | 27 | 59 |
| 2033 | 5 | 41 |
| 2034 | -18 | 24 |
| 2035 | -41 | 6 |
| 2036 | -65 | -11 |
| 2037 | -89 | -29 |
| 2038 | -114 | -46 |
| 2039 | -138 | -64 |
| 2040 | -163 | -81 |
| 2041 | -189 | -98 |
| 2042 | -215 | -115 |
| 2043 | -240 | -132 |
| 2044 | -266 | -149 |
| 2045 | -292 | -166 |
| 2046 | -319 | -183 |
| 2047 | -346 | -200 |
| 2048 | -373 | -216 |
| 2049 | -400 | -233 |
| 2050 | -428 | -250 |
| 2051 | -456 | -267 |
| 2052 | -484 | -283 |
| 2053 | -512 | -299 |
| 2054 | -540 | -316 |
| 2055 | -569 | -332 |
| 2056 | -598 | -348 |
| 2057 | -628 | -364 |
| 2058 | -657 | -380 |
| 2059 | -688 | -397 |
| 2060 | -719 | -414 |
| 2061 | -750 | -431 |
| 2062 | -782 | -448 |
| 2063 | -814 | -466 |
| 2064 | -847 | -483 |
| 2065 | -880 | -501 |
| 2066 | -913 | -519 |
| 2067 | -946 | -537 |
| 2068 | -980 | -555 |
| 2069 | -1014 | -572 |
| 2070 | -1049 | -591 |
| 2071 | -1084 | -609 |
| 2072 | -1120 | -628 |
| 2073 | -1156 | -647 |
| 2074 | -1193 | -666 |
| 2075 | -1230 | -686 |
| 2076 | -1268 | -705 |
| 2077 | -1307 | -725 |
| 2078 | -1346 | -746 |
| 2079 | -1385 | -767 |
| 2080 | -1425 | -788 |
| 2081 | -1465 | -809 |
| 2082 | -1505 | -830 |
| 2083 | -1547 | -851 |
| 2084 | -1588 | -873 |
| 2085 | -1631 | -894 |
| 2086 | -1673 | -916 |
| 2087 | -1717 | -939 |
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