Detailed Single Year Tables
Description of Proposed Provision:
C2.1: Increase the earliest eligibility age (EEA) by two months per year for those age 62 starting in 2023 and ending in 2040 (EEA reaches 65 for those age 62 in 2040).
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 |
|||
| 2021 | 14.11 | 12.31 | -1.81 | 253 | 0.00 | 0.00 | 0.00 | ||
| 2022 | 14.30 | 12.93 | -1.38 | 231 | 0.00 | 0.00 | 0.00 | ||
| 2023 | 14.39 | 12.91 | -1.47 | 214 | -0.04 | 0.00 | 0.05 | ||
| 2024 | 14.55 | 12.94 | -1.60 | 197 | -0.09 | 0.00 | 0.09 | ||
| 2025 | 14.72 | 12.96 | -1.75 | 180 | -0.14 | 0.00 | 0.14 | ||
| 2026 | 14.92 | 13.08 | -1.83 | 163 | -0.19 | 0.00 | 0.19 | ||
| 2027 | 15.12 | 13.10 | -2.02 | 146 | -0.24 | 0.00 | 0.24 | ||
| 2028 | 15.33 | 13.14 | -2.19 | 129 | -0.29 | 0.00 | 0.30 | ||
| 2029 | 15.49 | 13.17 | -2.32 | 112 | -0.38 | 0.00 | 0.38 | ||
| 2030 | 15.67 | 13.19 | -2.48 | 96 | -0.44 | 0.00 | 0.44 | ||
| 2031 | 15.79 | 13.21 | -2.59 | 79 | -0.49 | 0.00 | 0.49 | ||
| 2032 | 15.92 | 13.22 | -2.70 | 62 | -0.52 | 0.00 | 0.52 | ||
| 2033 | 16.02 | 13.23 | -2.78 | 45 | -0.54 | 0.00 | 0.55 | ||
| 2034 | 16.11 | 13.24 | -2.87 | 28 | -0.54 | 0.01 | 0.55 | ||
| 2035 | 16.21 | 13.25 | -2.95 | 10 | -0.53 | 0.01 | 0.54 | ||
| 2036 | 16.31 | 13.27 | -3.04 | ---- | -0.49 | 0.02 | 0.51 | ||
| 2037 | 16.44 | 13.28 | -3.16 | ---- | -0.42 | 0.02 | 0.44 | ||
| 2038 | 16.57 | 13.29 | -3.28 | ---- | -0.34 | 0.03 | 0.37 | ||
| 2039 | 16.68 | 13.30 | -3.38 | ---- | -0.27 | 0.04 | 0.31 | ||
| 2040 | 16.78 | 13.31 | -3.46 | ---- | -0.20 | 0.04 | 0.25 | ||
| 2041 | 16.88 | 13.32 | -3.56 | ---- | -0.14 | 0.05 | 0.19 | ||
| 2042 | 16.95 | 13.33 | -3.63 | ---- | -0.09 | 0.05 | 0.14 | ||
| 2043 | 17.01 | 13.33 | -3.67 | ---- | -0.04 | 0.05 | 0.09 | ||
| 2044 | 17.05 | 13.34 | -3.72 | ---- | 0.01 | 0.06 | 0.05 | ||
| 2045 | 17.10 | 13.34 | -3.76 | ---- | 0.05 | 0.06 | 0.01 | ||
| 2046 | 17.15 | 13.34 | -3.80 | ---- | 0.09 | 0.06 | -0.03 | ||
| 2047 | 17.21 | 13.35 | -3.86 | ---- | 0.13 | 0.07 | -0.06 | ||
| 2048 | 17.26 | 13.36 | -3.91 | ---- | 0.16 | 0.07 | -0.09 | ||
| 2049 | 17.31 | 13.36 | -3.95 | ---- | 0.19 | 0.07 | -0.12 | ||
| 2050 | 17.36 | 13.36 | -3.99 | ---- | 0.22 | 0.07 | -0.15 | ||
| 2051 | 17.40 | 13.37 | -4.03 | ---- | 0.24 | 0.08 | -0.17 | ||
| 2052 | 17.45 | 13.37 | -4.07 | ---- | 0.26 | 0.08 | -0.18 | ||
| 2053 | 17.49 | 13.38 | -4.11 | ---- | 0.27 | 0.08 | -0.19 | ||
| 2054 | 17.54 | 13.38 | -4.16 | ---- | 0.29 | 0.08 | -0.21 | ||
| 2055 | 17.60 | 13.39 | -4.21 | ---- | 0.31 | 0.08 | -0.23 | ||
| 2056 | 17.66 | 13.39 | -4.27 | ---- | 0.33 | 0.08 | -0.24 | ||
| 2057 | 17.73 | 13.40 | -4.33 | ---- | 0.35 | 0.08 | -0.26 | ||
| 2058 | 17.80 | 13.40 | -4.40 | ---- | 0.37 | 0.09 | -0.28 | ||
| 2059 | 17.88 | 13.41 | -4.47 | ---- | 0.39 | 0.09 | -0.30 | ||
| 2060 | 17.95 | 13.42 | -4.53 | ---- | 0.40 | 0.09 | -0.31 | ||
| 2061 | 18.01 | 13.42 | -4.59 | ---- | 0.41 | 0.09 | -0.32 | ||
| 2062 | 18.07 | 13.43 | -4.65 | ---- | 0.42 | 0.09 | -0.33 | ||
| 2063 | 18.13 | 13.43 | -4.70 | ---- | 0.43 | 0.09 | -0.34 | ||
| 2064 | 18.19 | 13.43 | -4.75 | ---- | 0.44 | 0.09 | -0.35 | ||
| 2065 | 18.25 | 13.44 | -4.81 | ---- | 0.44 | 0.09 | -0.35 | ||
| 2066 | 18.30 | 13.44 | -4.86 | ---- | 0.45 | 0.09 | -0.36 | ||
| 2067 | 18.36 | 13.45 | -4.91 | ---- | 0.45 | 0.09 | -0.37 | ||
| 2068 | 18.42 | 13.45 | -4.96 | ---- | 0.46 | 0.09 | -0.37 | ||
| 2069 | 18.48 | 13.45 | -5.02 | ---- | 0.47 | 0.09 | -0.38 | ||
| 2070 | 18.54 | 13.46 | -5.08 | ---- | 0.47 | 0.09 | -0.38 | ||
| 2071 | 18.60 | 13.47 | -5.14 | ---- | 0.48 | 0.09 | -0.39 | ||
| 2072 | 18.67 | 13.47 | -5.19 | ---- | 0.49 | 0.09 | -0.40 | ||
| 2073 | 18.73 | 13.48 | -5.25 | ---- | 0.50 | 0.09 | -0.41 | ||
| 2074 | 18.78 | 13.48 | -5.30 | ---- | 0.51 | 0.09 | -0.41 | ||
| 2075 | 18.84 | 13.48 | -5.35 | ---- | 0.52 | 0.10 | -0.43 | ||
| 2076 | 18.88 | 13.49 | -5.39 | ---- | 0.53 | 0.10 | -0.44 | ||
| 2077 | 18.91 | 13.49 | -5.42 | ---- | 0.54 | 0.09 | -0.44 | ||
| 2078 | 18.91 | 13.49 | -5.42 | ---- | 0.53 | 0.09 | -0.44 | ||
| 2079 | 18.90 | 13.49 | -5.41 | ---- | 0.53 | 0.09 | -0.44 | ||
| 2080 | 18.89 | 13.49 | -5.40 | ---- | 0.53 | 0.09 | -0.44 | ||
| 2081 | 18.86 | 13.49 | -5.38 | ---- | 0.53 | 0.09 | -0.44 | ||
| 2082 | 18.83 | 13.48 | -5.34 | ---- | 0.53 | 0.09 | -0.44 | ||
| 2083 | 18.77 | 13.48 | -5.29 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2084 | 18.71 | 13.48 | -5.24 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2085 | 18.65 | 13.47 | -5.18 | ---- | 0.51 | 0.09 | -0.43 | ||
| 2086 | 18.59 | 13.47 | -5.12 | ---- | 0.51 | 0.09 | -0.42 | ||
| 2087 | 18.52 | 13.46 | -5.06 | ---- | 0.51 | 0.09 | -0.42 | ||
| 2088 | 18.45 | 13.46 | -4.99 | ---- | 0.51 | 0.09 | -0.43 | ||
| 2089 | 18.39 | 13.45 | -4.93 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2090 | 18.33 | 13.45 | -4.88 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2091 | 18.29 | 13.45 | -4.84 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2092 | 18.25 | 13.45 | -4.80 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2093 | 18.23 | 13.45 | -4.78 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2094 | 18.22 | 13.45 | -4.77 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2095 | 18.22 | 13.45 | -4.77 | ---- | 0.52 | 0.09 | -0.43 | ||
| 2096 | 18.22 | 13.45 | -4.77 | ---- | 0.52 | 0.09 | -0.43 | ||
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 | 17.47% | 13.84% | -3.63% | 2035 | 0.16% | 0.06% | -0.10% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2021 Trustees Report.