Proposed Provision: C2.5. Increase the normal retirement age (NRA) 3 months per year for those age 62 starting in 2025 and ending in 2036 (NRA reaches 70 for those age 62 in 2036). Thereafter, 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) from 62 to 64 at the same time the NRA increases from 67 to 69; that is, for those attaining age 62 in 2025 through 2032. Keep EEA at 64 thereafter.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 152 | 153 |
| 2027 | 134 | 136 |
| 2028 | 117 | 120 |
| 2029 | 101 | 105 |
| 2030 | 84 | 90 |
| 2031 | 68 | 76 |
| 2032 | 53 | 62 |
| 2033 | 37 | 49 |
| 2034 | 22 | 36 |
| 2035 | 7 | 24 |
| 2036 | -9 | 11 |
| 2037 | -26 | -2 |
| 2038 | -43 | -14 |
| 2039 | -60 | -27 |
| 2040 | -78 | -40 |
| 2041 | -96 | -53 |
| 2042 | -115 | -66 |
| 2043 | -135 | -80 |
| 2044 | -154 | -93 |
| 2045 | -174 | -106 |
| 2046 | -194 | -120 |
| 2047 | -215 | -133 |
| 2048 | -235 | -147 |
| 2049 | -256 | -160 |
| 2050 | -277 | -174 |
| 2051 | -299 | -187 |
| 2052 | -320 | -201 |
| 2053 | -342 | -215 |
| 2054 | -364 | -228 |
| 2055 | -386 | -242 |
| 2056 | -409 | -256 |
| 2057 | -431 | -270 |
| 2058 | -455 | -285 |
| 2059 | -478 | -299 |
| 2060 | -502 | -314 |
| 2061 | -527 | -329 |
| 2062 | -553 | -345 |
| 2063 | -579 | -361 |
| 2064 | -605 | -378 |
| 2065 | -632 | -395 |
| 2066 | -660 | -412 |
| 2067 | -688 | -429 |
| 2068 | -716 | -447 |
| 2069 | -745 | -465 |
| 2070 | -774 | -483 |
| 2071 | -803 | -502 |
| 2072 | -834 | -521 |
| 2073 | -864 | -541 |
| 2074 | -895 | -561 |
| 2075 | -927 | -581 |
| 2076 | -960 | -601 |
| 2077 | -993 | -623 |
| 2078 | -1027 | -644 |
| 2079 | -1062 | -666 |
| 2080 | -1098 | -688 |
| 2081 | -1134 | -710 |
| 2082 | -1172 | -733 |
| 2083 | -1209 | -757 |
| 2084 | -1248 | -780 |
| 2085 | -1287 | -805 |
| 2086 | -1327 | -830 |
| 2087 | -1368 | -855 |
| 2088 | -1409 | -880 |
| 2089 | -1450 | -905 |
| 2090 | -1491 | -930 |
| 2091 | -1532 | -954 |
| 2092 | -1573 | -977 |
| 2093 | -1612 | -1001 |
| 2094 | -1651 | -1024 |
| 2095 | -1689 | -1047 |
| 2096 | -1727 | -1071 |
| 2097 | -1764 | -1094 |
| 2098 | -1801 | -1115 |
| 2099 | -1838 | -1134 |
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