Detailed Single Year Tables

Description of Proposed Provision:
After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, 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) by the same amount as the NRA starting for those age 62 in 2022 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 2012). The hardship exemption is phased out for those with AIME above 400 percent of the poverty level.

			Financial Estimates for the OASDI Trust Fund Program

	Proposal				Change from Present Law
	Expressed as a percentage of present-law taxable payroll			Trust fund ratio as of January 1	Expressed as a percentage of present-law taxable payroll
Calendar year	Cost rate	Income rate	Annual balance	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2013	13.95	12.69	-1.26	330	0.00	0.00	0.00
2014	14.04	12.83	-1.20	315	0.00	0.00	0.00
2015	13.97	12.86	-1.10	301	0.00	0.00	0.00
2016	13.91	12.88	-1.03	286	0.00	0.00	0.00
2017	13.88	12.90	-0.98	271	0.00	0.00	0.00
2018	13.91	12.93	-0.98	257	0.00	0.00	0.00
2019	14.06	12.95	-1.11	244	0.00	0.00	0.00
2020	14.26	12.97	-1.29	231	0.00	0.00	0.00
2021	14.44	12.99	-1.45	218	0.00	0.00	0.00
2022	14.70	13.03	-1.68	204	0.00	0.00	0.00
2023	14.96	13.04	-1.92	189	-0.01	0.00	0.01
2024	15.22	13.06	-2.16	174	-0.01	0.00	0.01
2025	15.46	13.07	-2.39	158	-0.02	0.00	0.02
2026	15.69	13.09	-2.60	142	-0.02	0.00	0.02
2027	15.90	13.10	-2.80	125	-0.03	0.00	0.03
2028	16.10	13.11	-2.99	109	-0.03	0.00	0.04
2029	16.28	13.12	-3.16	91	-0.04	0.00	0.04
2030	16.45	13.13	-3.31	72	-0.05	0.00	0.05
2031	16.57	13.14	-3.42	53	-0.06	0.00	0.07
2032	16.67	13.15	-3.52	33	-0.08	0.00	0.08
2033	16.76	13.16	-3.60	13	-0.10	0.00	0.10
2034	16.82	13.16	-3.66	----	-0.11	0.00	0.12
2035	16.85	13.17	-3.68	----	-0.13	0.00	0.13
2036	16.86	13.17	-3.69	----	-0.15	0.00	0.15
2037	16.86	13.17	-3.69	----	-0.16	0.00	0.16
2038	16.84	13.17	-3.66	----	-0.18	0.00	0.18
2039	16.79	13.17	-3.62	----	-0.20	0.00	0.20
2040	16.75	13.17	-3.58	----	-0.21	0.00	0.21
2041	16.70	13.17	-3.53	----	-0.23	0.00	0.23
2042	16.65	13.17	-3.48	----	-0.25	0.00	0.25
2043	16.60	13.17	-3.43	----	-0.26	0.00	0.27
2044	16.56	13.17	-3.39	----	-0.28	0.00	0.28
2045	16.52	13.17	-3.35	----	-0.30	0.00	0.31
2046	16.49	13.17	-3.32	----	-0.32	0.00	0.33
2047	16.46	13.17	-3.29	----	-0.35	0.00	0.35
2048	16.42	13.17	-3.25	----	-0.37	0.00	0.37
2049	16.39	13.17	-3.22	----	-0.39	0.00	0.39
2050	16.37	13.17	-3.20	----	-0.42	0.00	0.42
2051	16.35	13.17	-3.17	----	-0.44	0.00	0.45
2052	16.34	13.17	-3.17	----	-0.47	0.00	0.47
2053	16.34	13.18	-3.17	----	-0.49	0.00	0.49
2054	16.35	13.18	-3.17	----	-0.52	0.00	0.52
2055	16.37	13.18	-3.19	----	-0.54	0.00	0.54
2056	16.40	13.18	-3.22	----	-0.55	0.00	0.56
2057	16.43	13.19	-3.24	----	-0.57	0.00	0.57
2058	16.46	13.19	-3.27	----	-0.59	0.00	0.59
2059	16.48	13.19	-3.29	----	-0.61	0.00	0.61
2060	16.51	13.20	-3.31	----	-0.63	0.00	0.63
2061	16.53	13.20	-3.33	----	-0.65	0.00	0.65
2062	16.55	13.20	-3.35	----	-0.68	0.00	0.68
2063	16.57	13.20	-3.37	----	-0.70	0.00	0.70
2064	16.59	13.21	-3.39	----	-0.72	0.00	0.72
2065	16.61	13.21	-3.41	----	-0.74	0.00	0.74
2066	16.64	13.21	-3.43	----	-0.77	0.00	0.77
2067	16.66	13.21	-3.45	----	-0.79	0.00	0.79
2068	16.68	13.22	-3.47	----	-0.81	0.00	0.81
2069	16.71	13.22	-3.49	----	-0.83	0.00	0.83
2070	16.73	13.22	-3.51	----	-0.86	0.00	0.86
2071	16.75	13.22	-3.52	----	-0.88	0.00	0.88
2072	16.76	13.23	-3.53	----	-0.90	0.00	0.90
2073	16.76	13.23	-3.53	----	-0.92	0.00	0.92
2074	16.76	13.23	-3.53	----	-0.95	0.00	0.95
2075	16.75	13.23	-3.52	----	-0.97	0.00	0.97
2076	16.75	13.23	-3.52	----	-0.99	0.00	0.98
2077	16.73	13.23	-3.50	----	-1.01	0.00	1.00
2078	16.71	13.23	-3.48	----	-1.03	0.00	1.03
2079	16.68	13.23	-3.46	----	-1.06	0.00	1.06
2080	16.67	13.23	-3.44	----	-1.09	0.00	1.09
2081	16.64	13.23	-3.41	----	-1.14	0.00	1.14
2082	16.63	13.23	-3.40	----	-1.17	0.00	1.17
2083	16.64	13.24	-3.40	----	-1.19	0.00	1.20
2084	16.66	13.24	-3.42	----	-1.21	0.00	1.21
2085	16.69	13.24	-3.45	----	-1.22	0.00	1.22
2086	16.72	13.24	-3.47	----	-1.25	0.00	1.25
2087	16.74	13.25	-3.50	----	-1.27	0.00	1.27
2088	16.76	13.25	-3.52	----	-1.30	0.00	1.30

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2013 Trustees Report.
2013-2087	16.20%	13.88%	-2.32%	2033	-0.39%	0.00%	0.39%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates