Description of Proposed Provision:
C1.6: After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, increase the NRA by 1 month every 2 years until the NRA reaches 69. Also increase the age up to which the delayed retirement credit may be earned at the same rate (from 70 to 72). No change to earliest eligibility age.

Financial Estimates for the OASDI Trust Fund Program

  Proposal   Change from Current Law
  Expressed as a percentage of
current-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
current-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201813.8112.64-1.17
288
0.000.000.00
201913.9512.87-1.08
272
0.000.000.00
202014.1212.89-1.23
256
0.000.000.00
202114.2712.92-1.35
239
0.000.000.00
202214.4412.95-1.49
223
0.000.000.00
202314.6212.97-1.65
206
-0.01-0.000.01
202414.7912.99-1.80
188
-0.01-0.000.01
202514.9713.01-1.96
171
-0.02-0.000.02
202615.1413.13-2.00
154
-0.02-0.000.02
202715.3413.15-2.18
138
-0.03-0.000.03
202815.5513.17-2.38
121
-0.03-0.000.03
202915.7513.19-2.56
105
-0.04-0.000.04
203015.9413.20-2.74
88
-0.05-0.000.05
203116.1013.21-2.89
70
-0.06-0.000.06
203216.2513.23-3.02
53
-0.07-0.000.07
203316.3713.24-3.13
35
-0.09-0.000.08
203416.4613.24-3.22
17
-0.10-0.000.10
203516.5313.25-3.28
----
-0.12-0.000.12
203616.5813.26-3.33
----
-0.14-0.000.13
203716.6313.26-3.36
----
-0.16-0.000.15
203816.6413.26-3.38
----
-0.18-0.010.17
203916.6313.27-3.37
----
-0.20-0.010.19
204016.6113.27-3.35
----
-0.22-0.010.21
204116.5813.26-3.31
----
-0.23-0.010.23
204216.5213.26-3.26
----
-0.25-0.010.24
204316.4613.26-3.20
----
-0.27-0.010.26
204416.4013.26-3.14
----
-0.30-0.010.29
204516.3413.26-3.08
----
-0.32-0.010.31
204616.2813.25-3.03
----
-0.35-0.010.33
204716.2313.25-2.98
----
-0.37-0.020.36
204816.1813.25-2.93
----
-0.40-0.020.38
204916.1313.25-2.88
----
-0.43-0.020.41
205016.0913.25-2.84
----
-0.46-0.020.44
205116.0513.25-2.80
----
-0.49-0.020.47
205216.0213.25-2.77
----
-0.52-0.020.50
205315.9913.25-2.75
----
-0.55-0.020.53
205415.9813.25-2.73
----
-0.58-0.030.55
205515.9813.25-2.73
----
-0.61-0.030.58
205615.9813.25-2.73
----
-0.64-0.030.61
205716.0013.25-2.74
----
-0.67-0.030.64
205816.0113.26-2.76
----
-0.70-0.030.67
205916.0313.26-2.77
----
-0.73-0.030.70
206016.0513.26-2.79
----
-0.76-0.030.72
206116.0713.26-2.81
----
-0.78-0.040.75
206216.1013.27-2.83
----
-0.81-0.040.78
206316.1213.27-2.85
----
-0.84-0.040.80
206416.1413.27-2.87
----
-0.87-0.040.83
206516.1713.27-2.90
----
-0.90-0.040.86
206616.2013.27-2.93
----
-0.92-0.040.88
206716.2313.28-2.96
----
-0.95-0.050.91
206816.2613.28-2.98
----
-0.98-0.050.93
206916.2913.28-3.01
----
-1.01-0.050.96
207016.3213.29-3.04
----
-1.04-0.050.99
207116.3413.29-3.05
----
-1.08-0.051.03
207216.3513.29-3.06
----
-1.12-0.051.06
207316.3713.29-3.08
----
-1.14-0.051.09
207416.3913.29-3.09
----
-1.17-0.061.11
207516.4013.29-3.11
----
-1.19-0.061.13
207616.4113.30-3.11
----
-1.20-0.061.14
207716.4113.30-3.11
----
-1.21-0.061.15
207816.4013.30-3.11
----
-1.22-0.061.16
207916.3913.29-3.09
----
-1.23-0.061.17
208016.3713.29-3.07
----
-1.24-0.061.18
208116.3413.29-3.05
----
-1.25-0.061.19
208216.3213.29-3.03
----
-1.25-0.061.19
208316.3013.29-3.01
----
-1.26-0.061.19
208416.2813.29-2.99
----
-1.26-0.061.20
208516.2613.29-2.97
----
-1.28-0.061.21
208616.2313.28-2.94
----
-1.30-0.071.23
208716.2113.28-2.93
----
-1.32-0.071.25
208816.2113.28-2.92
----
-1.34-0.071.27
208916.2113.28-2.93
----
-1.36-0.071.29
209016.2313.29-2.94
----
-1.37-0.071.30
209116.2513.29-2.96
----
-1.38-0.071.31
209216.2913.29-3.00
----
-1.39-0.071.32
209316.3213.29-3.03
----
-1.40-0.071.33


Summarized Estimates

  Proposal   Change from Current Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
2018-2092 16.13% 13.82% -2.31%
2034
-0.56% -0.03% 0.53%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2018 Trustees Report.