Proposed Provision: C2.5. Increase the normal retirement age (NRA) 3 months per year starting for those age 62 in 2018 until the NRA reaches 70 in 2033. 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 |
Current Law |
Provision |
| 2017 | 298 | 298 |
| 2018 | 287 | 288 |
| 2019 | 273 | 273 |
| 2020 | 259 | 260 |
| 2021 | 245 | 246 |
| 2022 | 230 | 232 |
| 2023 | 215 | 217 |
| 2024 | 199 | 202 |
| 2025 | 182 | 186 |
| 2026 | 165 | 170 |
| 2027 | 148 | 153 |
| 2028 | 130 | 137 |
| 2029 | 112 | 121 |
| 2030 | 94 | 105 |
| 2031 | 75 | 89 |
| 2032 | 56 | 72 |
| 2033 | 37 | 56 |
| 2034 | 16 | 39 |
| 2035 | -4 | 21 |
| 2036 | -26 | 3 |
| 2037 | -47 | -15 |
| 2038 | -70 | -33 |
| 2039 | -92 | -51 |
| 2040 | -115 | -70 |
| 2041 | -138 | -88 |
| 2042 | -161 | -107 |
| 2043 | -184 | -124 |
| 2044 | -207 | -141 |
| 2045 | -230 | -158 |
| 2046 | -253 | -174 |
| 2047 | -276 | -190 |
| 2048 | -300 | -206 |
| 2049 | -323 | -222 |
| 2050 | -346 | -238 |
| 2051 | -370 | -253 |
| 2052 | -393 | -268 |
| 2053 | -417 | -283 |
| 2054 | -440 | -297 |
| 2055 | -464 | -311 |
| 2056 | -487 | -325 |
| 2057 | -511 | -340 |
| 2058 | -536 | -354 |
| 2059 | -560 | -368 |
| 2060 | -585 | -383 |
| 2061 | -611 | -398 |
| 2062 | -637 | -413 |
| 2063 | -663 | -429 |
| 2064 | -690 | -445 |
| 2065 | -717 | -461 |
| 2066 | -745 | -477 |
| 2067 | -772 | -494 |
| 2068 | -801 | -510 |
| 2069 | -829 | -527 |
| 2070 | -858 | -544 |
| 2071 | -888 | -562 |
| 2072 | -918 | -580 |
| 2073 | -949 | -598 |
| 2074 | -981 | -616 |
| 2075 | -1014 | -635 |
| 2076 | -1047 | -653 |
| 2077 | -1082 | -673 |
| 2078 | -1117 | -694 |
| 2079 | -1153 | -715 |
| 2080 | -1190 | -736 |
| 2081 | -1227 | -758 |
| 2082 | -1264 | -779 |
| 2083 | -1300 | -800 |
| 2084 | -1337 | -820 |
| 2085 | -1374 | -840 |
| 2086 | -1410 | -860 |
| 2087 | -1446 | -879 |
| 2088 | -1483 | -898 |
| 2089 | -1520 | -917 |
| 2090 | -1557 | -937 |
| 2091 | -1595 | -956 |
| 2092 | -1633 | -976 |
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