Proposed Provision: C2.3. Starting for those age 62 in 2025, index the normal retirement age (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 2025 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 percent of the poverty level (wage-indexed from 2013). The hardship exemption is phased out for those with AIME above 400 percent of the poverty level.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Current Law |
Provision |
| 2024 | 188 | 188 |
| 2025 | 171 | 171 |
| 2026 | 152 | 152 |
| 2027 | 134 | 135 |
| 2028 | 117 | 118 |
| 2029 | 101 | 102 |
| 2030 | 84 | 86 |
| 2031 | 68 | 70 |
| 2032 | 53 | 55 |
| 2033 | 37 | 40 |
| 2034 | 22 | 25 |
| 2035 | 7 | 10 |
| 2036 | -9 | -5 |
| 2037 | -26 | -21 |
| 2038 | -43 | -37 |
| 2039 | -60 | -54 |
| 2040 | -78 | -71 |
| 2041 | -96 | -89 |
| 2042 | -115 | -107 |
| 2043 | -135 | -125 |
| 2044 | -154 | -144 |
| 2045 | -174 | -163 |
| 2046 | -194 | -182 |
| 2047 | -215 | -201 |
| 2048 | -235 | -221 |
| 2049 | -256 | -240 |
| 2050 | -277 | -260 |
| 2051 | -299 | -280 |
| 2052 | -320 | -300 |
| 2053 | -342 | -321 |
| 2054 | -364 | -341 |
| 2055 | -386 | -362 |
| 2056 | -409 | -383 |
| 2057 | -431 | -404 |
| 2058 | -455 | -425 |
| 2059 | -478 | -447 |
| 2060 | -502 | -470 |
| 2061 | -527 | -492 |
| 2062 | -553 | -516 |
| 2063 | -579 | -540 |
| 2064 | -605 | -564 |
| 2065 | -632 | -589 |
| 2066 | -660 | -614 |
| 2067 | -688 | -639 |
| 2068 | -716 | -665 |
| 2069 | -745 | -691 |
| 2070 | -774 | -718 |
| 2071 | -803 | -745 |
| 2072 | -834 | -772 |
| 2073 | -864 | -800 |
| 2074 | -895 | -829 |
| 2075 | -927 | -857 |
| 2076 | -960 | -887 |
| 2077 | -993 | -917 |
| 2078 | -1027 | -948 |
| 2079 | -1062 | -979 |
| 2080 | -1098 | -1012 |
| 2081 | -1134 | -1044 |
| 2082 | -1172 | -1078 |
| 2083 | -1209 | -1112 |
| 2084 | -1248 | -1146 |
| 2085 | -1287 | -1182 |
| 2086 | -1327 | -1218 |
| 2087 | -1368 | -1255 |
| 2088 | -1409 | -1293 |
| 2089 | -1450 | -1330 |
| 2090 | -1491 | -1368 |
| 2091 | -1532 | -1405 |
| 2092 | -1573 | -1441 |
| 2093 | -1612 | -1478 |
| 2094 | -1651 | -1513 |
| 2095 | -1689 | -1548 |
| 2096 | -1727 | -1583 |
| 2097 | -1764 | -1616 |
| 2098 | -1801 | -1649 |
| 2099 | -1838 | -1681 |
back