Proposed Provision: B7.12. Provide an option to split the 8-percent delayed retirement credit (DRC) to offer a lump sum benefit at initial entitlement equal to 2 percent of the 8 percent DRC earned, and a 6 percent DRC on subsequent monthly benefits, effective for workers newly entitled to retired worker benefits in 2020 and later. Widows are held harmless from the lump-sum decision.

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
201713.013.013.413.4
201812.912.913.513.5
201912.912.913.713.7
202013.013.013.913.9
202113.013.014.014.1
202213.013.014.314.3
202313.013.114.514.6
202413.113.114.814.9
202513.113.115.115.1
202613.113.115.415.4
202713.213.215.615.6
202813.213.215.915.9
202913.213.216.116.1
203013.213.216.316.3
203113.213.216.416.5
203213.213.216.616.6
203313.213.216.716.7
203413.213.216.816.8
203513.213.216.916.9
203613.213.217.017.0
203713.213.217.017.0
203813.213.217.017.0
203913.213.217.017.0
204013.213.217.017.0
204113.213.216.916.9
204213.213.216.916.8
204313.213.216.816.8
204413.213.216.816.7
204513.213.216.716.7
204613.213.216.716.7
204713.213.216.616.6
204813.213.216.616.6
204913.213.216.616.6
205013.213.216.616.6
205113.213.216.616.6
205213.213.216.616.6
205313.213.216.616.6
205413.213.216.616.6
205513.213.216.616.6
205613.213.216.716.7
205713.213.216.716.7
205813.213.216.716.7
205913.213.216.816.8
206013.313.316.816.8
206113.313.316.916.9
206213.313.316.916.9
206313.313.317.017.0
206413.313.317.017.0
206513.313.317.117.1
206613.313.317.117.1
206713.313.317.217.2
206813.313.317.217.2
206913.313.317.317.3
207013.313.317.317.3
207113.313.317.417.4
207213.313.317.417.4
207313.313.317.417.4
207413.313.317.517.5
207513.313.317.517.5
207613.313.317.517.5
207713.313.317.517.5
207813.313.317.517.5
207913.313.317.517.5
208013.313.317.517.5
208113.313.317.517.5
208213.313.317.517.5
208313.313.317.517.5
208413.313.317.517.5
208513.313.317.617.5
208613.313.317.617.6
208713.313.317.617.6
208813.313.317.717.7
208913.313.317.717.7
209013.313.317.717.7
209113.313.317.817.8
209213.313.317.817.8
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