Proposed Provision: C2.5. Increase the normal retirement age (NRA) 3 months per year for those age 62 starting in 2025 and ending in 2036 (NRA reaches 70 for those age 62 in 2036). 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 2025 through 2032. Keep EEA at 64 thereafter.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Current Law Provision
2024188188
2025171171
2026152153
2027134136
2028117120
2029101105
20308490
20316876
20325362
20333749
20342236
2035724
2036-911
2037-26-2
2038-43-14
2039-60-27
2040-78-40
2041-96-53
2042-115-66
2043-135-80
2044-154-93
2045-174-106
2046-194-120
2047-215-133
2048-235-147
2049-256-160
2050-277-174
2051-299-187
2052-320-201
2053-342-215
2054-364-228
2055-386-242
2056-409-256
2057-431-270
2058-455-285
2059-478-299
2060-502-314
2061-527-329
2062-553-345
2063-579-361
2064-605-378
2065-632-395
2066-660-412
2067-688-429
2068-716-447
2069-745-465
2070-774-483
2071-803-502
2072-834-521
2073-864-541
2074-895-561
2075-927-581
2076-960-601
2077-993-623
2078-1027-644
2079-1062-666
2080-1098-688
2081-1134-710
2082-1172-733
2083-1209-757
2084-1248-780
2085-1287-805
2086-1327-830
2087-1368-855
2088-1409-880
2089-1450-905
2090-1491-930
2091-1532-954
2092-1573-977
2093-1612-1001
2094-1651-1024
2095-1689-1047
2096-1727-1071
2097-1764-1094
2098-1801-1115
2099-1838-1134
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