Detailed Single Year Tables
Description of Proposed Provision:
C2.6: Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 in 2025-2026 to 68 and 63, respectively, and then by 3 months per year in 2027-2030 to 69 and 64, respectively.
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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.95 | 12.90 | -2.05 | 171 | -0.06 | 0.00 | 0.06 | ||
| 2026 | 15.09 | 13.08 | -2.01 | 154 | -0.12 | 0.00 | 0.12 | ||
| 2027 | 15.18 | 13.11 | -2.07 | 137 | -0.18 | 0.00 | 0.18 | ||
| 2028 | 15.17 | 13.14 | -2.03 | 121 | -0.24 | 0.01 | 0.25 | ||
| 2029 | 15.16 | 13.17 | -1.99 | 107 | -0.31 | 0.01 | 0.32 | ||
| 2030 | 15.15 | 13.19 | -1.96 | 92 | -0.38 | 0.01 | 0.39 | ||
| 2031 | 15.13 | 13.21 | -1.92 | 79 | -0.45 | 0.01 | 0.45 | ||
| 2032 | 15.09 | 13.23 | -1.86 | 66 | -0.51 | 0.01 | 0.52 | ||
| 2033 | 15.07 | 13.27 | -1.80 | 53 | -0.59 | 0.00 | 0.60 | ||
| 2034 | 15.11 | 13.28 | -1.84 | 41 | -0.66 | 0.00 | 0.66 | ||
| 2035 | 15.17 | 13.29 | -1.89 | 29 | -0.71 | -0.00 | 0.71 | ||
| 2036 | 15.24 | 13.29 | -1.95 | 17 | -0.75 | -0.00 | 0.75 | ||
| 2037 | 15.31 | 13.30 | -2.01 | 5 | -0.78 | -0.01 | 0.77 | ||
| 2038 | 15.37 | 13.30 | -2.06 | — | -0.81 | -0.01 | 0.80 | ||
| 2039 | 15.41 | 13.31 | -2.10 | — | -0.84 | -0.01 | 0.83 | ||
| 2040 | 15.46 | 13.31 | -2.15 | — | -0.86 | -0.01 | 0.85 | ||
| 2041 | 15.50 | 13.32 | -2.19 | — | -0.88 | -0.01 | 0.87 | ||
| 2042 | 15.54 | 13.32 | -2.22 | — | -0.90 | -0.01 | 0.88 | ||
| 2043 | 15.56 | 13.32 | -2.24 | — | -0.92 | -0.01 | 0.90 | ||
| 2044 | 15.58 | 13.33 | -2.26 | — | -0.94 | -0.02 | 0.92 | ||
| 2045 | 15.60 | 13.33 | -2.27 | — | -0.96 | -0.02 | 0.94 | ||
| 2046 | 15.61 | 13.33 | -2.28 | — | -0.97 | -0.02 | 0.96 | ||
| 2047 | 15.63 | 13.33 | -2.30 | — | -0.99 | -0.02 | 0.97 | ||
| 2048 | 15.65 | 13.34 | -2.32 | — | -1.01 | -0.02 | 0.99 | ||
| 2049 | 15.68 | 13.34 | -2.34 | — | -1.03 | -0.02 | 1.01 | ||
| 2050 | 15.71 | 13.34 | -2.37 | — | -1.05 | -0.02 | 1.03 | ||
| 2051 | 15.74 | 13.35 | -2.40 | — | -1.07 | -0.02 | 1.04 | ||
| 2052 | 15.79 | 13.35 | -2.43 | — | -1.08 | -0.02 | 1.06 | ||
| 2053 | 15.83 | 13.35 | -2.48 | — | -1.10 | -0.02 | 1.08 | ||
| 2054 | 15.89 | 13.36 | -2.53 | — | -1.12 | -0.02 | 1.09 | ||
| 2055 | 15.95 | 13.37 | -2.58 | — | -1.13 | -0.02 | 1.11 | ||
| 2056 | 16.01 | 13.37 | -2.64 | — | -1.14 | -0.03 | 1.12 | ||
| 2057 | 16.09 | 13.38 | -2.71 | — | -1.16 | -0.03 | 1.13 | ||
| 2058 | 16.17 | 13.38 | -2.78 | — | -1.16 | -0.03 | 1.14 | ||
| 2059 | 16.25 | 13.39 | -2.86 | — | -1.17 | -0.03 | 1.14 | ||
| 2060 | 16.33 | 13.40 | -2.93 | — | -1.18 | -0.03 | 1.15 | ||
| 2061 | 16.41 | 13.40 | -3.00 | — | -1.17 | -0.03 | 1.15 | ||
| 2062 | 16.48 | 13.41 | -3.07 | — | -1.18 | -0.03 | 1.15 | ||
| 2063 | 16.55 | 13.41 | -3.13 | — | -1.18 | -0.03 | 1.15 | ||
| 2064 | 16.61 | 13.42 | -3.19 | — | -1.18 | -0.03 | 1.15 | ||
| 2065 | 16.67 | 13.42 | -3.25 | — | -1.18 | -0.03 | 1.15 | ||
| 2066 | 16.74 | 13.43 | -3.31 | — | -1.18 | -0.03 | 1.15 | ||
| 2067 | 16.80 | 13.43 | -3.37 | — | -1.18 | -0.03 | 1.15 | ||
| 2068 | 16.87 | 13.44 | -3.43 | — | -1.18 | -0.03 | 1.15 | ||
| 2069 | 16.93 | 13.44 | -3.49 | — | -1.18 | -0.03 | 1.15 | ||
| 2070 | 17.00 | 13.45 | -3.55 | — | -1.18 | -0.03 | 1.15 | ||
| 2071 | 17.06 | 13.45 | -3.61 | — | -1.19 | -0.03 | 1.16 | ||
| 2072 | 17.13 | 13.46 | -3.67 | — | -1.19 | -0.03 | 1.16 | ||
| 2073 | 17.19 | 13.46 | -3.73 | — | -1.18 | -0.03 | 1.15 | ||
| 2074 | 17.25 | 13.47 | -3.78 | — | -1.18 | -0.03 | 1.15 | ||
| 2075 | 17.31 | 13.47 | -3.84 | — | -1.17 | -0.03 | 1.14 | ||
| 2076 | 17.36 | 13.48 | -3.88 | — | -1.17 | -0.03 | 1.14 | ||
| 2077 | 17.40 | 13.48 | -3.92 | — | -1.16 | -0.03 | 1.13 | ||
| 2078 | 17.44 | 13.48 | -3.95 | — | -1.15 | -0.03 | 1.12 | ||
| 2079 | 17.46 | 13.48 | -3.97 | — | -1.14 | -0.03 | 1.11 | ||
| 2080 | 17.47 | 13.48 | -3.98 | — | -1.13 | -0.03 | 1.10 | ||
| 2081 | 17.47 | 13.48 | -3.99 | — | -1.12 | -0.03 | 1.09 | ||
| 2082 | 17.46 | 13.48 | -3.98 | — | -1.11 | -0.03 | 1.08 | ||
| 2083 | 17.45 | 13.48 | -3.97 | — | -1.10 | -0.03 | 1.07 | ||
| 2084 | 17.42 | 13.48 | -3.94 | — | -1.09 | -0.03 | 1.06 | ||
| 2085 | 17.39 | 13.48 | -3.91 | — | -1.09 | -0.03 | 1.06 | ||
| 2086 | 17.34 | 13.48 | -3.86 | — | -1.08 | -0.03 | 1.05 | ||
| 2087 | 17.29 | 13.47 | -3.81 | — | -1.08 | -0.03 | 1.05 | ||
| 2088 | 17.23 | 13.47 | -3.76 | — | -1.07 | -0.03 | 1.04 | ||
| 2089 | 17.17 | 13.47 | -3.71 | — | -1.07 | -0.03 | 1.04 | ||
| 2090 | 17.12 | 13.46 | -3.66 | — | -1.07 | -0.03 | 1.04 | ||
| 2091 | 17.07 | 13.46 | -3.61 | — | -1.07 | -0.03 | 1.04 | ||
| 2092 | 17.03 | 13.46 | -3.58 | — | -1.07 | -0.03 | 1.04 | ||
| 2093 | 17.01 | 13.46 | -3.55 | — | -1.07 | -0.03 | 1.05 | ||
| 2094 | 16.99 | 13.46 | -3.54 | — | -1.08 | -0.03 | 1.05 | ||
| 2095 | 16.99 | 13.46 | -3.53 | — | -1.08 | -0.03 | 1.05 | ||
| 2096 | 17.00 | 13.46 | -3.54 | — | -1.08 | -0.03 | 1.05 | ||
| 2097 | 17.01 | 13.46 | -3.56 | — | -1.08 | -0.03 | 1.05 | ||
| 2098 | 17.04 | 13.46 | -3.58 | — | -1.08 | -0.03 | 1.05 | ||
| 2099 | 17.08 | 13.46 | -3.61 | — | -1.08 | -0.03 | 1.05 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 16.35% | 13.78% | -2.57% | 2037 | -0.94% | -0.02% | 0.92% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2024 Trustees Report.