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Detailed Single Year Tables
Retirement Age

Description of Proposed Provision:
Increase the normal retirement age (NRA) from 66 to 67 one year earlier than current law, starting for those reaching age 62 in 2016 and ending for those reaching age 62 in 2021. Then, after 2021, index the NRA to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20).

 

Financial Estimates for the OASDI Trust Fund Program
 
  Proposal
   Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

 Trust fund
ratio as of
January 1		 Expressed as a percentage of
present-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance
Cost
rate		 Income
rate		 Annual
balance
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.12
353
0.000.000.00
201212.8412.870.03
350
0.000.000.00
201312.8212.900.08
346
0.000.000.00
201412.8612.920.06
341
0.000.000.00
201512.9812.94-0.04
335
0.000.000.00
201613.1012.96-0.14
330
0.000.000.00
201713.3012.99-0.31
324
-0.010.000.01
201813.5413.02-0.52
317
-0.010.000.01
201913.8313.03-0.80
309
-0.010.000.01
202014.1313.05-1.09
300
-0.010.000.01
202114.4413.07-1.37
289
-0.020.000.02
202214.7313.08-1.64
278
-0.020.000.02
202315.0113.10-1.91
265
-0.020.000.02
202415.2713.12-2.15
252
-0.020.000.02
202515.5213.13-2.38
238
-0.020.000.02
202615.7313.15-2.59
223
-0.020.000.02
202715.9213.16-2.76
207
-0.030.000.03
202816.0913.17-2.92
190
-0.040.000.04
202916.2313.18-3.04
174
-0.060.000.06
203016.3313.19-3.14
156
-0.080.000.07
203116.4113.20-3.21
139
-0.100.000.09
203216.4713.20-3.27
121
-0.120.000.11
203316.5213.21-3.31
102
-0.140.000.13
203416.5413.21-3.33
84
-0.16-0.010.16
203516.5513.22-3.33
65
-0.18-0.010.18
203616.5413.22-3.32
46
-0.20-0.010.19
203716.5113.22-3.29
27
-0.22-0.010.21
203816.4713.22-3.25
8
-0.24-0.010.24
203916.4113.22-3.19
----
-0.27-0.010.26
204016.3513.22-3.13
----
-0.29-0.010.28
204116.2813.22-3.06
----
-0.32-0.010.30
204216.2113.22-3.00
----
-0.34-0.010.33
204316.1513.21-2.93
----
-0.36-0.010.35
204416.0813.21-2.87
----
-0.39-0.010.38
204516.0313.21-2.82
----
-0.41-0.020.40
204615.9813.21-2.77
----
-0.44-0.020.42
204715.9413.21-2.73
----
-0.46-0.020.44
204815.8913.21-2.68
----
-0.49-0.020.47
204915.8413.21-2.63
----
-0.51-0.020.49
205015.7913.20-2.59
----
-0.54-0.020.52
205115.7513.20-2.55
----
-0.57-0.020.55
205215.7213.20-2.52
----
-0.60-0.020.58
205315.7013.20-2.50
----
-0.63-0.030.61
205415.6813.20-2.48
----
-0.66-0.030.64
205515.6813.20-2.47
----
-0.69-0.030.66
205615.6813.20-2.47
----
-0.72-0.030.69
205715.6713.21-2.47
----
-0.74-0.030.71
205815.6713.21-2.46
----
-0.77-0.030.74
205915.6613.21-2.46
----
-0.80-0.030.76
206015.6613.21-2.45
----
-0.83-0.030.79
206115.6513.21-2.44
----
-0.86-0.040.82
206215.6513.21-2.44
----
-0.89-0.040.85
206315.6413.21-2.43
----
-0.92-0.040.88
206415.6413.21-2.43
----
-0.95-0.040.91
206515.6413.21-2.43
----
-0.97-0.040.93
206615.6513.21-2.44
----
-1.00-0.040.95
206715.6613.21-2.45
----
-1.02-0.040.98
206815.6713.22-2.46
----
-1.05-0.051.01
206915.6813.22-2.46
----
-1.08-0.051.04
207015.6913.22-2.47
----
-1.12-0.051.07
207115.6913.22-2.47
----
-1.16-0.051.11
207215.6913.22-2.47
----
-1.20-0.051.15
207315.7013.22-2.48
----
-1.24-0.051.19
207415.7113.22-2.49
----
-1.27-0.051.22
207515.7213.23-2.50
----
-1.30-0.061.25
207615.7513.23-2.52
----
-1.32-0.061.27
207715.7713.23-2.54
----
-1.35-0.061.29
207815.7813.23-2.55
----
-1.38-0.061.32
207915.7913.23-2.56
----
-1.42-0.061.35
208015.8013.23-2.56
----
-1.45-0.061.39
208115.7913.23-2.55
----
-1.51-0.071.44
208215.7913.24-2.55
----
-1.55-0.071.48
208315.8013.24-2.56
----
-1.59-0.071.52
208415.8113.24-2.58
----
-1.61-0.071.54
208515.8313.24-2.59
----
-1.64-0.071.57



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of
exhaustion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 15.47% 13.99% -1.48%
2038
-0.46% -0.02% 0.44%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified March 17, 2011