Detailed Single Year Tables

Description of Proposed Provision:
C1.3: 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.

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
202114.1112.31-1.81
253
0.000.000.00
202214.3012.93-1.38
231
0.000.000.00
202314.4312.91-1.51
214
-0.000.000.00
202414.6312.94-1.69
196
-0.010.000.01
202514.8412.96-1.89
178
-0.010.000.01
202615.0913.08-2.01
160
-0.02-0.000.02
202715.3413.10-2.24
141
-0.02-0.000.02
202815.6013.14-2.46
123
-0.02-0.000.02
202915.8413.17-2.67
104
-0.03-0.000.03
203016.0713.19-2.88
86
-0.04-0.000.03
203116.2313.20-3.03
67
-0.05-0.000.05
203216.3713.22-3.16
48
-0.06-0.000.06
203316.4813.23-3.25
29
-0.08-0.000.08
203416.5713.23-3.33
9
-0.09-0.000.09
203516.6313.24-3.39
----
-0.11-0.000.10
203616.6713.25-3.43
----
-0.13-0.000.12
203716.7213.25-3.46
----
-0.15-0.000.14
203816.7513.26-3.49
----
-0.16-0.010.16
203916.7713.26-3.51
----
-0.19-0.010.18
204016.7813.26-3.51
----
-0.20-0.010.19
204116.8013.27-3.53
----
-0.22-0.010.21
204216.8013.27-3.53
----
-0.24-0.010.23
204316.7813.27-3.51
----
-0.26-0.010.25
204416.7613.27-3.49
----
-0.28-0.010.27
204516.7413.27-3.47
----
-0.31-0.010.30
204616.7213.27-3.45
----
-0.34-0.010.32
204716.7113.27-3.45
----
-0.36-0.010.35
204816.7113.27-3.44
----
-0.39-0.020.37
204916.7013.27-3.43
----
-0.42-0.020.40
205016.6913.27-3.42
----
-0.45-0.020.43
205116.6813.27-3.40
----
-0.48-0.020.46
205216.6713.27-3.40
----
-0.52-0.020.49
205316.6713.28-3.40
----
-0.55-0.020.52
205416.6713.28-3.40
----
-0.58-0.030.55
205516.6813.28-3.40
----
-0.61-0.030.59
205616.6913.28-3.41
----
-0.64-0.030.62
205716.7113.28-3.43
----
-0.68-0.030.65
205816.7313.29-3.44
----
-0.71-0.030.67
205916.7513.29-3.46
----
-0.74-0.030.70
206016.7813.29-3.49
----
-0.77-0.040.73
206116.8013.30-3.51
----
-0.80-0.040.76
206216.8213.30-3.52
----
-0.83-0.040.79
206316.8413.30-3.54
----
-0.86-0.040.82
206416.8613.30-3.56
----
-0.89-0.040.85
206516.8813.31-3.58
----
-0.92-0.040.87
206616.9113.31-3.60
----
-0.94-0.040.90
206716.9313.31-3.62
----
-0.97-0.050.92
206816.9613.31-3.64
----
-1.00-0.050.95
206916.9813.32-3.66
----
-1.03-0.050.98
207017.0113.32-3.69
----
-1.06-0.051.01
207117.0213.32-3.70
----
-1.10-0.051.05
207217.0413.32-3.72
----
-1.13-0.051.08
207317.0613.33-3.74
----
-1.16-0.061.11
207417.0813.33-3.75
----
-1.20-0.061.14
207517.0913.33-3.76
----
-1.22-0.061.17
207617.1013.33-3.76
----
-1.25-0.061.19
207717.0913.33-3.76
----
-1.28-0.061.22
207817.0713.33-3.74
----
-1.31-0.061.24
207917.0413.33-3.71
----
-1.33-0.061.27
208017.0013.33-3.67
----
-1.35-0.071.29
208116.9513.33-3.62
----
-1.38-0.071.31
208216.8913.32-3.57
----
-1.40-0.071.33
208316.8313.32-3.51
----
-1.42-0.071.35
208416.7613.32-3.45
----
-1.44-0.071.36
208516.6913.31-3.38
----
-1.45-0.071.38
208616.6113.31-3.30
----
-1.46-0.071.39
208716.5413.30-3.23
----
-1.47-0.071.40
208816.4513.30-3.16
----
-1.48-0.071.41
208916.3613.29-3.07
----
-1.51-0.081.43
209016.2813.29-2.99
----
-1.54-0.081.46
209116.1913.28-2.91
----
-1.57-0.081.49
209216.1213.28-2.84
----
-1.61-0.081.53
209316.0713.28-2.79
----
-1.65-0.081.57
209416.0113.28-2.74
----
-1.69-0.081.61
209515.9713.27-2.70
----
-1.73-0.081.65
209615.9213.27-2.65
----
-1.79-0.091.70

Summarized Estimates

Proposal Change from Current Law
Years Cost
rate		 Income
rate		 Actuarial
balance		 Year of reserve
depletion1		 Cost
rate		 Income
rate		 Actuarial
balance
2021-2095 16.64% 13.75% -2.89% 2034 -0.68% -0.03% 0.65%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2021 Trustees Report.