Proposed Provision: C2.5. Increase the normal retirement age (NRA) 3 months per year starting for those age 62 in 2019 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 |
| 2018 | 288 | 288 |
| 2019 | 272 | 272 |
| 2020 | 256 | 256 |
| 2021 | 239 | 240 |
| 2022 | 223 | 223 |
| 2023 | 206 | 206 |
| 2024 | 188 | 189 |
| 2025 | 171 | 173 |
| 2026 | 154 | 158 |
| 2027 | 137 | 143 |
| 2028 | 120 | 129 |
| 2029 | 104 | 114 |
| 2030 | 86 | 100 |
| 2031 | 69 | 85 |
| 2032 | 51 | 70 |
| 2033 | 33 | 54 |
| 2034 | 14 | 39 |
| 2035 | -5 | 23 |
| 2036 | -25 | 6 |
| 2037 | -46 | -10 |
| 2038 | -67 | -27 |
| 2039 | -88 | -43 |
| 2040 | -110 | -60 |
| 2041 | -132 | -77 |
| 2042 | -154 | -93 |
| 2043 | -176 | -110 |
| 2044 | -199 | -126 |
| 2045 | -221 | -142 |
| 2046 | -244 | -158 |
| 2047 | -267 | -174 |
| 2048 | -289 | -190 |
| 2049 | -312 | -205 |
| 2050 | -335 | -220 |
| 2051 | -358 | -235 |
| 2052 | -381 | -250 |
| 2053 | -403 | -265 |
| 2054 | -426 | -279 |
| 2055 | -450 | -293 |
| 2056 | -473 | -307 |
| 2057 | -496 | -321 |
| 2058 | -520 | -335 |
| 2059 | -544 | -349 |
| 2060 | -569 | -363 |
| 2061 | -594 | -378 |
| 2062 | -619 | -393 |
| 2063 | -645 | -408 |
| 2064 | -671 | -424 |
| 2065 | -698 | -440 |
| 2066 | -725 | -456 |
| 2067 | -752 | -472 |
| 2068 | -780 | -489 |
| 2069 | -808 | -506 |
| 2070 | -837 | -522 |
| 2071 | -866 | -540 |
| 2072 | -896 | -557 |
| 2073 | -927 | -575 |
| 2074 | -958 | -593 |
| 2075 | -990 | -612 |
| 2076 | -1023 | -631 |
| 2077 | -1057 | -651 |
| 2078 | -1092 | -672 |
| 2079 | -1128 | -693 |
| 2080 | -1165 | -714 |
| 2081 | -1202 | -736 |
| 2082 | -1240 | -757 |
| 2083 | -1278 | -779 |
| 2084 | -1316 | -800 |
| 2085 | -1354 | -821 |
| 2086 | -1392 | -840 |
| 2087 | -1430 | -860 |
| 2088 | -1468 | -880 |
| 2089 | -1505 | -900 |
| 2090 | -1543 | -919 |
| 2091 | -1580 | -940 |
| 2092 | -1618 | -959 |
| 2093 | -1655 | -979 |
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