Detailed Single Year Tables

Description of Proposed Provision:
C1.4: After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, increase the NRA 2 months per year until it reaches 69 for individuals attaining age 62 in 2034. Thereafter, increase the NRA 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
202214.0512.79-1.26
230
0.000.000.00
202314.2913.04-1.25
211
-0.020.000.02
202414.4112.95-1.46
195
-0.04-0.000.04
202514.6012.97-1.63
178
-0.05-0.000.05
202614.8113.08-1.73
161
-0.07-0.000.07
202715.0113.10-1.91
145
-0.09-0.000.09
202815.2113.14-2.07
128
-0.11-0.000.11
202915.3913.17-2.22
112
-0.14-0.000.13
203015.5613.20-2.36
96
-0.16-0.000.16
203115.6913.22-2.47
79
-0.21-0.010.21
203215.8013.24-2.56
63
-0.27-0.010.26
203315.8713.24-2.63
47
-0.33-0.010.32
203415.9313.25-2.68
31
-0.39-0.010.38
203515.9613.26-2.71
14
-0.46-0.020.44
203615.9713.26-2.71
----
-0.53-0.020.51
203715.9813.26-2.72
----
-0.60-0.020.57
203815.9813.27-2.71
----
-0.66-0.030.63
203915.9713.27-2.70
----
-0.72-0.030.69
204015.9413.27-2.67
----
-0.78-0.030.75
204115.9013.27-2.64
----
-0.84-0.040.80
204215.8713.27-2.61
----
-0.89-0.040.86
204315.8313.26-2.57
----
-0.95-0.040.91
204415.8013.26-2.54
----
-1.00-0.040.96
204515.7613.26-2.50
----
-1.06-0.051.01
204615.7313.26-2.47
----
-1.11-0.051.06
204715.7013.26-2.44
----
-1.17-0.051.11
204815.6713.26-2.41
----
-1.22-0.061.16
204915.6413.26-2.39
----
-1.27-0.061.21
205015.6313.26-2.37
----
-1.32-0.061.26
205115.6113.26-2.35
----
-1.37-0.061.31
205215.5913.26-2.33
----
-1.42-0.071.35
205315.5913.26-2.33
----
-1.47-0.071.40
205415.5813.26-2.32
----
-1.52-0.071.44
205515.5913.26-2.33
----
-1.56-0.071.49
205615.5913.26-2.33
----
-1.61-0.081.53
205715.6113.26-2.34
----
-1.65-0.081.57
205815.6313.27-2.36
----
-1.69-0.081.61
205915.6613.27-2.39
----
-1.73-0.081.64
206015.6913.27-2.42
----
-1.76-0.091.67
206115.7213.28-2.44
----
-1.79-0.091.70
206215.7513.28-2.47
----
-1.82-0.091.73
206315.7813.28-2.50
----
-1.84-0.091.75
206415.8113.29-2.53
----
-1.87-0.091.77
206515.8513.29-2.56
----
-1.88-0.091.79
206615.8913.29-2.60
----
-1.89-0.091.80
206715.9313.30-2.63
----
-1.90-0.091.81
206815.9713.30-2.67
----
-1.92-0.101.83
206916.0013.30-2.70
----
-1.94-0.101.85
207016.0313.31-2.73
----
-1.97-0.101.87
207116.0513.31-2.74
----
-2.01-0.101.91
207216.0713.31-2.76
----
-2.04-0.101.94
207316.1013.31-2.78
----
-2.07-0.101.96
207416.1213.32-2.80
----
-2.09-0.101.99
207516.1413.32-2.82
----
-2.11-0.102.01
207616.1613.32-2.84
----
-2.13-0.112.02
207716.1713.32-2.85
----
-2.14-0.112.03
207816.1713.32-2.84
----
-2.15-0.112.05
207916.1513.32-2.83
----
-2.17-0.112.06
208016.1213.32-2.80
----
-2.18-0.112.07
208116.0813.32-2.77
----
-2.19-0.112.08
208216.0413.31-2.72
----
-2.21-0.112.09
208315.9913.31-2.68
----
-2.21-0.112.10
208415.9413.31-2.63
----
-2.22-0.112.11
208515.8913.31-2.58
----
-2.22-0.112.11
208615.8213.30-2.52
----
-2.23-0.112.12
208715.7413.30-2.45
----
-2.24-0.112.13
208815.6713.29-2.38
----
-2.25-0.112.13
208915.6013.29-2.32
----
-2.25-0.112.13
209015.5413.28-2.25
----
-2.25-0.112.14
209115.4613.28-2.18
----
-2.28-0.112.17
209215.3913.28-2.11
----
-2.32-0.122.20
209315.3113.27-2.04
----
-2.36-0.122.24
209415.2413.27-1.97
----
-2.41-0.122.29
209515.1813.27-1.92
----
-2.46-0.122.34
209615.1113.26-1.85
----
-2.53-0.132.41
209715.0613.26-1.80
----
-2.59-0.132.46

Summarized Estimates

Proposal Change from Current Law
Years Cost
rate		 Income
rate		 Actuarial
balance		 Year of reserve
depletion1		 Cost
rate		 Income
rate		 Actuarial
balance
2022-2096 15.83% 13.71% -2.11% 2035 -1.37% -0.06% 1.31%

1 Under current law, the year of Trust Fund reserve depletion is 2035.
Based on Intermediate Assumptions of the 2022 Trustees Report.