__Description of Proposed Provision__:

C1.3: 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.

*Estimates based on the intermediate assumptions
of the 2018 Trustees Report*

Summary Measures | |||||||
---|---|---|---|---|---|---|---|

Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||

Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||

-2.84 | -4.32 | 0.55 | 1.55 | 19% | 36% |