Detailed Single Year Tables
Description of Proposed Provision:
C2.2: 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. Also, raise the earliest eligibility age (EEA) for retired-workers, aged widow(er)s, and disabled widow(er)s by the same amount as the NRA starting for those attaining 62 in 2023.
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 |
|||
| 2022 | 14.05 | 12.79 | -1.26 | 230 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.30 | 13.04 | -1.26 | 211 | -0.01 | 0.00 | 0.01 | ||
| 2024 | 14.43 | 12.96 | -1.47 | 195 | -0.02 | 0.00 | 0.02 | ||
| 2025 | 14.63 | 12.97 | -1.66 | 178 | -0.02 | 0.00 | 0.03 | ||
| 2026 | 14.85 | 13.08 | -1.77 | 160 | -0.03 | 0.00 | 0.03 | ||
| 2027 | 15.06 | 13.10 | -1.96 | 144 | -0.04 | 0.00 | 0.04 | ||
| 2028 | 15.27 | 13.14 | -2.13 | 127 | -0.05 | 0.00 | 0.05 | ||
| 2029 | 15.47 | 13.18 | -2.29 | 110 | -0.06 | 0.00 | 0.06 | ||
| 2030 | 15.65 | 13.20 | -2.45 | 93 | -0.07 | 0.00 | 0.07 | ||
| 2031 | 15.82 | 13.23 | -2.59 | 76 | -0.09 | 0.00 | 0.09 | ||
| 2032 | 15.96 | 13.25 | -2.72 | 60 | -0.10 | 0.00 | 0.11 | ||
| 2033 | 16.08 | 13.26 | -2.83 | 43 | -0.12 | 0.00 | 0.12 | ||
| 2034 | 16.19 | 13.27 | -2.92 | 25 | -0.14 | 0.00 | 0.14 | ||
| 2035 | 16.27 | 13.27 | -2.99 | 8 | -0.15 | 0.00 | 0.15 | ||
| 2036 | 16.33 | 13.28 | -3.05 | ---- | -0.17 | 0.00 | 0.17 | ||
| 2037 | 16.39 | 13.29 | -3.10 | ---- | -0.19 | -0.00 | 0.19 | ||
| 2038 | 16.44 | 13.29 | -3.14 | ---- | -0.20 | -0.00 | 0.20 | ||
| 2039 | 16.46 | 13.30 | -3.17 | ---- | -0.22 | -0.00 | 0.22 | ||
| 2040 | 16.48 | 13.30 | -3.18 | ---- | -0.24 | -0.00 | 0.24 | ||
| 2041 | 16.49 | 13.30 | -3.19 | ---- | -0.25 | -0.00 | 0.25 | ||
| 2042 | 16.49 | 13.30 | -3.19 | ---- | -0.27 | -0.00 | 0.27 | ||
| 2043 | 16.49 | 13.30 | -3.19 | ---- | -0.29 | -0.00 | 0.29 | ||
| 2044 | 16.49 | 13.30 | -3.19 | ---- | -0.31 | -0.00 | 0.31 | ||
| 2045 | 16.49 | 13.31 | -3.18 | ---- | -0.34 | -0.00 | 0.33 | ||
| 2046 | 16.48 | 13.31 | -3.17 | ---- | -0.36 | -0.00 | 0.36 | ||
| 2047 | 16.48 | 13.31 | -3.17 | ---- | -0.39 | -0.00 | 0.38 | ||
| 2048 | 16.48 | 13.31 | -3.17 | ---- | -0.41 | -0.00 | 0.41 | ||
| 2049 | 16.48 | 13.31 | -3.16 | ---- | -0.44 | -0.01 | 0.43 | ||
| 2050 | 16.48 | 13.31 | -3.17 | ---- | -0.47 | -0.01 | 0.46 | ||
| 2051 | 16.48 | 13.32 | -3.17 | ---- | -0.50 | -0.01 | 0.49 | ||
| 2052 | 16.48 | 13.32 | -3.17 | ---- | -0.53 | -0.01 | 0.52 | ||
| 2053 | 16.50 | 13.32 | -3.17 | ---- | -0.56 | -0.01 | 0.55 | ||
| 2054 | 16.51 | 13.32 | -3.19 | ---- | -0.59 | -0.01 | 0.58 | ||
| 2055 | 16.53 | 13.33 | -3.20 | ---- | -0.62 | -0.01 | 0.61 | ||
| 2056 | 16.56 | 13.33 | -3.23 | ---- | -0.65 | -0.01 | 0.64 | ||
| 2057 | 16.59 | 13.34 | -3.25 | ---- | -0.67 | -0.01 | 0.66 | ||
| 2058 | 16.62 | 13.34 | -3.28 | ---- | -0.70 | -0.01 | 0.69 | ||
| 2059 | 16.66 | 13.34 | -3.32 | ---- | -0.73 | -0.01 | 0.72 | ||
| 2060 | 16.70 | 13.35 | -3.35 | ---- | -0.75 | -0.01 | 0.74 | ||
| 2061 | 16.74 | 13.35 | -3.38 | ---- | -0.77 | -0.01 | 0.76 | ||
| 2062 | 16.77 | 13.36 | -3.42 | ---- | -0.80 | -0.01 | 0.79 | ||
| 2063 | 16.80 | 13.36 | -3.44 | ---- | -0.82 | -0.01 | 0.81 | ||
| 2064 | 16.83 | 13.36 | -3.47 | ---- | -0.85 | -0.01 | 0.83 | ||
| 2065 | 16.86 | 13.37 | -3.49 | ---- | -0.87 | -0.01 | 0.86 | ||
| 2066 | 16.89 | 13.37 | -3.52 | ---- | -0.89 | -0.01 | 0.88 | ||
| 2067 | 16.92 | 13.37 | -3.54 | ---- | -0.92 | -0.02 | 0.90 | ||
| 2068 | 16.95 | 13.38 | -3.57 | ---- | -0.94 | -0.02 | 0.93 | ||
| 2069 | 16.98 | 13.38 | -3.60 | ---- | -0.96 | -0.02 | 0.95 | ||
| 2070 | 17.01 | 13.39 | -3.63 | ---- | -0.99 | -0.02 | 0.97 | ||
| 2071 | 17.04 | 13.39 | -3.65 | ---- | -1.01 | -0.02 | 1.00 | ||
| 2072 | 17.07 | 13.40 | -3.68 | ---- | -1.04 | -0.02 | 1.02 | ||
| 2073 | 17.10 | 13.40 | -3.70 | ---- | -1.06 | -0.02 | 1.04 | ||
| 2074 | 17.13 | 13.40 | -3.73 | ---- | -1.08 | -0.02 | 1.07 | ||
| 2075 | 17.15 | 13.41 | -3.74 | ---- | -1.10 | -0.02 | 1.09 | ||
| 2076 | 17.16 | 13.41 | -3.75 | ---- | -1.13 | -0.02 | 1.11 | ||
| 2077 | 17.16 | 13.41 | -3.75 | ---- | -1.15 | -0.02 | 1.13 | ||
| 2078 | 17.15 | 13.41 | -3.74 | ---- | -1.17 | -0.02 | 1.15 | ||
| 2079 | 17.13 | 13.41 | -3.72 | ---- | -1.19 | -0.02 | 1.17 | ||
| 2080 | 17.10 | 13.41 | -3.69 | ---- | -1.20 | -0.02 | 1.18 | ||
| 2081 | 17.07 | 13.41 | -3.66 | ---- | -1.21 | -0.02 | 1.19 | ||
| 2082 | 17.02 | 13.40 | -3.62 | ---- | -1.22 | -0.02 | 1.20 | ||
| 2083 | 16.97 | 13.40 | -3.57 | ---- | -1.23 | -0.02 | 1.21 | ||
| 2084 | 16.92 | 13.40 | -3.52 | ---- | -1.24 | -0.02 | 1.22 | ||
| 2085 | 16.85 | 13.39 | -3.46 | ---- | -1.26 | -0.02 | 1.23 | ||
| 2086 | 16.78 | 13.39 | -3.39 | ---- | -1.26 | -0.02 | 1.24 | ||
| 2087 | 16.71 | 13.39 | -3.32 | ---- | -1.28 | -0.02 | 1.25 | ||
| 2088 | 16.62 | 13.38 | -3.24 | ---- | -1.29 | -0.02 | 1.27 | ||
| 2089 | 16.54 | 13.38 | -3.16 | ---- | -1.31 | -0.02 | 1.29 | ||
| 2090 | 16.45 | 13.37 | -3.08 | ---- | -1.34 | -0.02 | 1.31 | ||
| 2091 | 16.38 | 13.37 | -3.01 | ---- | -1.36 | -0.02 | 1.34 | ||
| 2092 | 16.31 | 13.37 | -2.95 | ---- | -1.39 | -0.02 | 1.36 | ||
| 2093 | 16.25 | 13.37 | -2.89 | ---- | -1.42 | -0.02 | 1.39 | ||
| 2094 | 16.20 | 13.36 | -2.84 | ---- | -1.45 | -0.02 | 1.43 | ||
| 2095 | 16.16 | 13.36 | -2.80 | ---- | -1.48 | -0.02 | 1.46 | ||
| 2096 | 16.12 | 13.36 | -2.75 | ---- | -1.52 | -0.03 | 1.50 | ||
| 2097 | 16.09 | 13.36 | -2.73 | ---- | -1.56 | -0.03 | 1.53 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2022-2096 | 16.54% | 13.77% | -2.78% | 2035 | -0.65% | -0.01% | 0.64% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2022 Trustees Report.