Detailed Single Year Tables
Description of Proposed Provision:
C2.7: Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 starting in 2025 by 3 months per year until EEA reaches 64 in 2032 and NRA reaches 69 in 2032.
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 |
|||
| 2024 | 14.71 | 13.03 | -1.68 | 188 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 14.97 | 12.90 | -2.07 | 171 | -0.04 | 0.00 | 0.04 | ||
| 2026 | 15.13 | 13.08 | -2.05 | 153 | -0.07 | 0.01 | 0.08 | ||
| 2027 | 15.25 | 13.12 | -2.13 | 136 | -0.11 | 0.01 | 0.12 | ||
| 2028 | 15.27 | 13.14 | -2.12 | 120 | -0.15 | 0.01 | 0.16 | ||
| 2029 | 15.28 | 13.18 | -2.10 | 104 | -0.19 | 0.01 | 0.21 | ||
| 2030 | 15.29 | 13.19 | -2.10 | 89 | -0.23 | 0.02 | 0.25 | ||
| 2031 | 15.30 | 13.22 | -2.08 | 75 | -0.27 | 0.02 | 0.29 | ||
| 2032 | 15.29 | 13.24 | -2.05 | 61 | -0.31 | 0.02 | 0.33 | ||
| 2033 | 15.29 | 13.28 | -2.01 | 47 | -0.37 | 0.02 | 0.39 | ||
| 2034 | 15.35 | 13.29 | -2.06 | 34 | -0.43 | 0.01 | 0.44 | ||
| 2035 | 15.41 | 13.30 | -2.11 | 21 | -0.48 | 0.01 | 0.49 | ||
| 2036 | 15.45 | 13.30 | -2.15 | 8 | -0.54 | 0.01 | 0.55 | ||
| 2037 | 15.50 | 13.31 | -2.19 | — | -0.59 | 0.00 | 0.60 | ||
| 2038 | 15.54 | 13.31 | -2.23 | — | -0.64 | 0.00 | 0.64 | ||
| 2039 | 15.57 | 13.32 | -2.26 | — | -0.68 | -0.00 | 0.68 | ||
| 2040 | 15.61 | 13.32 | -2.29 | — | -0.71 | -0.00 | 0.71 | ||
| 2041 | 15.64 | 13.33 | -2.32 | — | -0.74 | -0.00 | 0.73 | ||
| 2042 | 15.67 | 13.33 | -2.34 | — | -0.76 | -0.01 | 0.76 | ||
| 2043 | 15.69 | 13.33 | -2.36 | — | -0.79 | -0.01 | 0.78 | ||
| 2044 | 15.70 | 13.33 | -2.37 | — | -0.82 | -0.01 | 0.81 | ||
| 2045 | 15.71 | 13.33 | -2.38 | — | -0.84 | -0.01 | 0.83 | ||
| 2046 | 15.72 | 13.34 | -2.38 | — | -0.86 | -0.01 | 0.85 | ||
| 2047 | 15.74 | 13.34 | -2.40 | — | -0.89 | -0.01 | 0.88 | ||
| 2048 | 15.75 | 13.34 | -2.41 | — | -0.91 | -0.01 | 0.90 | ||
| 2049 | 15.77 | 13.34 | -2.43 | — | -0.94 | -0.02 | 0.92 | ||
| 2050 | 15.80 | 13.35 | -2.45 | — | -0.96 | -0.02 | 0.95 | ||
| 2051 | 15.82 | 13.35 | -2.47 | — | -0.99 | -0.02 | 0.97 | ||
| 2052 | 15.85 | 13.35 | -2.50 | — | -1.02 | -0.02 | 1.00 | ||
| 2053 | 15.89 | 13.36 | -2.54 | — | -1.04 | -0.02 | 1.02 | ||
| 2054 | 15.94 | 13.36 | -2.58 | — | -1.06 | -0.02 | 1.04 | ||
| 2055 | 16.00 | 13.37 | -2.63 | — | -1.08 | -0.02 | 1.06 | ||
| 2056 | 16.05 | 13.37 | -2.68 | — | -1.10 | -0.02 | 1.08 | ||
| 2057 | 16.12 | 13.38 | -2.74 | — | -1.12 | -0.02 | 1.10 | ||
| 2058 | 16.19 | 13.39 | -2.81 | — | -1.14 | -0.02 | 1.11 | ||
| 2059 | 16.27 | 13.39 | -2.88 | — | -1.15 | -0.03 | 1.12 | ||
| 2060 | 16.35 | 13.40 | -2.95 | — | -1.16 | -0.03 | 1.13 | ||
| 2061 | 16.42 | 13.40 | -3.02 | — | -1.16 | -0.03 | 1.13 | ||
| 2062 | 16.49 | 13.41 | -3.08 | — | -1.16 | -0.03 | 1.14 | ||
| 2063 | 16.56 | 13.41 | -3.14 | — | -1.17 | -0.03 | 1.14 | ||
| 2064 | 16.62 | 13.42 | -3.20 | — | -1.17 | -0.03 | 1.14 | ||
| 2065 | 16.68 | 13.42 | -3.25 | — | -1.18 | -0.03 | 1.15 | ||
| 2066 | 16.74 | 13.43 | -3.31 | — | -1.18 | -0.03 | 1.15 | ||
| 2067 | 16.80 | 13.43 | -3.37 | — | -1.18 | -0.03 | 1.15 | ||
| 2068 | 16.87 | 13.44 | -3.43 | — | -1.18 | -0.03 | 1.15 | ||
| 2069 | 16.93 | 13.44 | -3.49 | — | -1.18 | -0.03 | 1.15 | ||
| 2070 | 17.00 | 13.45 | -3.55 | — | -1.18 | -0.03 | 1.15 | ||
| 2071 | 17.06 | 13.45 | -3.61 | — | -1.19 | -0.03 | 1.16 | ||
| 2072 | 17.13 | 13.46 | -3.67 | — | -1.19 | -0.03 | 1.16 | ||
| 2073 | 17.19 | 13.46 | -3.73 | — | -1.18 | -0.03 | 1.15 | ||
| 2074 | 17.25 | 13.47 | -3.78 | — | -1.18 | -0.03 | 1.15 | ||
| 2075 | 17.31 | 13.47 | -3.84 | — | -1.17 | -0.03 | 1.14 | ||
| 2076 | 17.36 | 13.48 | -3.88 | — | -1.17 | -0.03 | 1.14 | ||
| 2077 | 17.40 | 13.48 | -3.92 | — | -1.16 | -0.03 | 1.13 | ||
| 2078 | 17.44 | 13.48 | -3.95 | — | -1.15 | -0.03 | 1.12 | ||
| 2079 | 17.46 | 13.48 | -3.97 | — | -1.14 | -0.03 | 1.11 | ||
| 2080 | 17.47 | 13.48 | -3.98 | — | -1.13 | -0.03 | 1.10 | ||
| 2081 | 17.47 | 13.48 | -3.99 | — | -1.12 | -0.03 | 1.09 | ||
| 2082 | 17.46 | 13.48 | -3.98 | — | -1.11 | -0.03 | 1.08 | ||
| 2083 | 17.45 | 13.48 | -3.97 | — | -1.10 | -0.03 | 1.07 | ||
| 2084 | 17.42 | 13.48 | -3.94 | — | -1.09 | -0.03 | 1.06 | ||
| 2085 | 17.39 | 13.48 | -3.91 | — | -1.09 | -0.03 | 1.06 | ||
| 2086 | 17.34 | 13.48 | -3.86 | — | -1.08 | -0.03 | 1.05 | ||
| 2087 | 17.29 | 13.47 | -3.81 | — | -1.08 | -0.03 | 1.05 | ||
| 2088 | 17.23 | 13.47 | -3.76 | — | -1.07 | -0.03 | 1.04 | ||
| 2089 | 17.17 | 13.47 | -3.71 | — | -1.07 | -0.03 | 1.04 | ||
| 2090 | 17.12 | 13.46 | -3.66 | — | -1.07 | -0.03 | 1.04 | ||
| 2091 | 17.07 | 13.46 | -3.61 | — | -1.07 | -0.03 | 1.04 | ||
| 2092 | 17.03 | 13.46 | -3.58 | — | -1.07 | -0.03 | 1.04 | ||
| 2093 | 17.01 | 13.46 | -3.55 | — | -1.07 | -0.03 | 1.05 | ||
| 2094 | 16.99 | 13.46 | -3.54 | — | -1.08 | -0.03 | 1.05 | ||
| 2095 | 16.99 | 13.46 | -3.53 | — | -1.08 | -0.03 | 1.05 | ||
| 2096 | 17.00 | 13.46 | -3.54 | — | -1.08 | -0.03 | 1.05 | ||
| 2097 | 17.01 | 13.46 | -3.56 | — | -1.08 | -0.03 | 1.05 | ||
| 2098 | 17.04 | 13.46 | -3.58 | — | -1.08 | -0.03 | 1.05 | ||
| 2099 | 17.08 | 13.46 | -3.61 | — | -1.08 | -0.03 | 1.05 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2024-2098 | 16.42% | 13.78% | -2.63% | 2036 | -0.88% | -0.02% | 0.86% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
|||||||||
Based on Intermediate Assumptions of the 2024 Trustees Report.