Detailed Single Year Tables

Description of Proposed Provision:
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, increase the earliest eligibility age (EEA) by the same amount as the NRA starting for those age 62 in 2022 so as to maintain a 5 year difference between the two ages. Include a hardship exemption with no EEA/NRA change for a worker with 25 years of earnings (with 4 quarters of coverage each), and average indexed monthly earnings (AIME) less than 250% of the poverty level (wage-indexed from 2010). The hardship exemption is phased out for those with AIME above 400% of the poverty level.

			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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2011	13.35	12.52	-0.82	353	0.00	0.00	0.00
2012	13.23	12.87	-0.36	347	0.00	0.00	0.00
2013	13.18	12.87	-0.31	341	0.00	0.00	0.00
2014	13.18	12.92	-0.27	334	0.00	0.00	0.00
2015	13.24	12.94	-0.30	328	0.00	0.00	0.00
2016	13.33	12.97	-0.36	321	0.00	0.00	0.00
2017	13.46	13.00	-0.46	314	0.00	0.00	0.00
2018	13.62	13.03	-0.59	306	0.00	0.00	0.00
2019	13.88	13.04	-0.84	296	0.00	0.00	0.00
2020	14.20	13.06	-1.14	284	0.00	0.00	0.00
2021	14.52	13.08	-1.44	272	0.00	0.00	0.00
2022	14.83	13.10	-1.73	259	0.00	0.00	0.00
2023	15.12	13.12	-2.00	245	-0.01	0.00	0.01
2024	15.39	13.13	-2.26	230	-0.01	0.00	0.01
2025	15.65	13.15	-2.50	215	-0.02	0.00	0.02
2026	15.90	13.16	-2.73	199	-0.03	0.00	0.03
2027	16.11	13.18	-2.93	182	-0.04	0.00	0.04
2028	16.30	13.19	-3.11	165	-0.05	0.00	0.05
2029	16.46	13.20	-3.26	147	-0.05	0.00	0.06
2030	16.59	13.21	-3.38	128	-0.06	0.00	0.07
2031	16.69	13.22	-3.46	109	-0.07	0.00	0.08
2032	16.76	13.23	-3.54	90	-0.09	0.00	0.09
2033	16.82	13.24	-3.59	70	-0.10	0.00	0.11
2034	16.86	13.24	-3.62	50	-0.12	0.00	0.12
2035	16.88	13.24	-3.63	29	-0.14	0.00	0.14
2036	16.88	13.25	-3.63	9	-0.15	0.00	0.16
2037	16.87	13.25	-3.62	----	-0.17	0.00	0.17
2038	16.83	13.25	-3.58	----	-0.19	0.00	0.19
2039	16.78	13.25	-3.53	----	-0.21	0.00	0.21
2040	16.73	13.25	-3.48	----	-0.23	0.00	0.23
2041	16.67	13.25	-3.42	----	-0.25	0.00	0.25
2042	16.61	13.25	-3.36	----	-0.27	0.00	0.27
2043	16.55	13.25	-3.31	----	-0.29	0.00	0.29
2044	16.50	13.24	-3.26	----	-0.31	0.00	0.31
2045	16.45	13.24	-3.21	----	-0.33	0.00	0.33
2046	16.40	13.24	-3.16	----	-0.36	0.00	0.36
2047	16.36	13.24	-3.11	----	-0.38	0.00	0.38
2048	16.31	13.24	-3.07	----	-0.41	0.00	0.40
2049	16.27	13.24	-3.03	----	-0.43	0.00	0.43
2050	16.24	13.24	-2.99	----	-0.45	0.00	0.45
2051	16.21	13.24	-2.97	----	-0.47	0.00	0.47
2052	16.19	13.24	-2.95	----	-0.49	0.00	0.49
2053	16.18	13.24	-2.93	----	-0.51	0.00	0.51
2054	16.17	13.25	-2.92	----	-0.53	0.00	0.53
2055	16.17	13.25	-2.92	----	-0.55	0.00	0.55
2056	16.17	13.25	-2.92	----	-0.57	0.00	0.57
2057	16.17	13.25	-2.92	----	-0.60	0.00	0.59
2058	16.16	13.25	-2.91	----	-0.62	0.00	0.61
2059	16.15	13.25	-2.90	----	-0.64	0.00	0.64
2060	16.14	13.25	-2.89	----	-0.66	0.00	0.66
2061	16.13	13.26	-2.87	----	-0.68	0.00	0.68
2062	16.12	13.26	-2.86	----	-0.71	0.00	0.70
2063	16.11	13.26	-2.85	----	-0.73	0.00	0.72
2064	16.10	13.26	-2.84	----	-0.75	-0.01	0.75
2065	16.10	13.26	-2.84	----	-0.77	-0.01	0.77
2066	16.10	13.26	-2.84	----	-0.79	-0.01	0.79
2067	16.10	13.26	-2.84	----	-0.81	-0.01	0.81
2068	16.10	13.26	-2.84	----	-0.84	-0.01	0.83
2069	16.11	13.27	-2.85	----	-0.86	-0.01	0.85
2070	16.12	13.27	-2.85	----	-0.88	-0.01	0.87
2071	16.13	13.27	-2.86	----	-0.91	-0.01	0.90
2072	16.14	13.27	-2.86	----	-0.93	-0.01	0.92
2073	16.15	13.28	-2.88	----	-0.95	-0.01	0.95
2074	16.17	13.28	-2.89	----	-0.97	-0.01	0.97
2075	16.19	13.28	-2.91	----	-0.99	-0.01	0.99
2076	16.21	13.28	-2.93	----	-1.00	-0.01	1.00
2077	16.23	13.28	-2.95	----	-1.02	-0.01	1.01
2078	16.25	13.29	-2.96	----	-1.04	-0.01	1.03
2079	16.26	13.29	-2.97	----	-1.06	-0.01	1.05
2080	16.28	13.29	-2.99	----	-1.08	-0.01	1.08
2081	16.29	13.30	-2.99	----	-1.11	0.00	1.11
2082	16.30	13.30	-3.00	----	-1.14	0.00	1.14
2083	16.31	13.30	-3.01	----	-1.16	0.00	1.16
2084	16.33	13.31	-3.02	----	-1.19	0.00	1.19
2085	16.34	13.31	-3.03	----	-1.22	0.00	1.22
2086	16.35	13.31	-3.04	----	-1.25	0.00	1.24

				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 2011 Trustees Report.
2011-2085	15.87%	14.02%	-1.85%	2036	-0.37%	-0.00%	0.37%

¹ Under present law, the year of exhaustion is 2036.


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Detailed Single Year Tables

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates