Proposed Provision: C2.5. 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 |
| 2016 | 303 | 303 |
| 2017 | 293 | 293 |
| 2018 | 277 | 277 |
| 2019 | 262 | 262 |
| 2020 | 246 | 247 |
| 2021 | 231 | 232 |
| 2022 | 216 | 217 |
| 2023 | 200 | 201 |
| 2024 | 183 | 186 |
| 2025 | 165 | 170 |
| 2026 | 149 | 155 |
| 2027 | 132 | 140 |
| 2028 | 115 | 126 |
| 2029 | 98 | 112 |
| 2030 | 81 | 98 |
| 2031 | 64 | 84 |
| 2032 | 46 | 70 |
| 2033 | 27 | 57 |
| 2034 | 8 | 43 |
| 2035 | -11 | 29 |
| 2036 | -30 | 15 |
| 2037 | -50 | 1 |
| 2038 | -71 | -13 |
| 2039 | -91 | -26 |
| 2040 | -112 | -40 |
| 2041 | -133 | -54 |
| 2042 | -154 | -67 |
| 2043 | -176 | -81 |
| 2044 | -197 | -94 |
| 2045 | -218 | -107 |
| 2046 | -240 | -120 |
| 2047 | -262 | -133 |
| 2048 | -283 | -146 |
| 2049 | -305 | -158 |
| 2050 | -327 | -171 |
| 2051 | -349 | -183 |
| 2052 | -371 | -196 |
| 2053 | -393 | -207 |
| 2054 | -415 | -219 |
| 2055 | -437 | -231 |
| 2056 | -460 | -242 |
| 2057 | -482 | -254 |
| 2058 | -506 | -266 |
| 2059 | -529 | -279 |
| 2060 | -553 | -291 |
| 2061 | -578 | -304 |
| 2062 | -603 | -318 |
| 2063 | -628 | -331 |
| 2064 | -654 | -345 |
| 2065 | -680 | -359 |
| 2066 | -706 | -374 |
| 2067 | -733 | -388 |
| 2068 | -760 | -403 |
| 2069 | -788 | -418 |
| 2070 | -816 | -433 |
| 2071 | -845 | -448 |
| 2072 | -874 | -464 |
| 2073 | -905 | -480 |
| 2074 | -935 | -496 |
| 2075 | -967 | -513 |
| 2076 | -1000 | -530 |
| 2077 | -1033 | -547 |
| 2078 | -1068 | -565 |
| 2079 | -1102 | -584 |
| 2080 | -1138 | -602 |
| 2081 | -1173 | -621 |
| 2082 | -1208 | -639 |
| 2083 | -1243 | -658 |
| 2084 | -1279 | -675 |
| 2085 | -1314 | -693 |
| 2086 | -1349 | -710 |
| 2087 | -1384 | -727 |
| 2088 | -1419 | -744 |
| 2089 | -1455 | -761 |
| 2090 | -1491 | -778 |
| 2091 | -1528 | -795 |
back