Summary Measures and Graphs
Description of Proposed Provision:
C1.7: Increase the normal retirement age (NRA) 3 months per year for those age 62 starting in 2025 and ending in 2032 (NRA reaches 69 for those age 62 in 2032). Increase the age up to which delayed retirement credits may be earned from 70 to 72 on the same schedule. Increase the widow(er) NRA in the same manner. The earliest eligibility age (EEA) for worker's and widow(er)'s benefit is unchanged.
Estimates based on the intermediate assumptions
of the 2024 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 |
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-3.50 | -4.64 | 1.01 | 1.36 | 29% | 29% |