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Detailed Single Year Tables
Retirement Age

Description of Proposed Provision:
Increase the normal retirement age (NRA) 3 months per year starting in 2017 until reaching 70 for those attaining age 62 in 2032. Then increase the NRA 1 month every 2 years thereafter. Note that the NRA would increase from 66 to 67 faster than under current law. Increase the earliest eligibility age (EEA) from 62 to 64 at the same time the NRA would increase from 67 to 69; that is, for those attaining age 62 in 2021 through 2028. Keep EEA at 64 thereafter. Keep years in which delayed retirement credits can be earned at 4 years after attaining NRA.

 

Financial Estimates for the OASDI Trust Fund Program
 
  Proposal
   Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

 Trust fund
ratio as of
January 1		 Expressed as a percentage of
present-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance
Cost
rate		 Income
rate		 Annual
balance
201013.0912.33-0.76
355
0.000.000.00
201113.0412.91-0.12
353
0.000.000.00
201212.8412.870.03
350
0.000.000.00
201312.8212.900.08
346
0.000.000.00
201412.8612.920.06
341
0.000.000.00
201512.9812.94-0.04
335
0.000.000.00
201613.1012.96-0.14
330
0.000.000.00
201713.2812.99-0.29
324
-0.020.000.02
201813.5013.02-0.48
318
-0.040.000.05
201913.7713.03-0.74
311
-0.070.010.07
202014.0513.06-1.00
302
-0.090.010.10
202114.3313.08-1.26
293
-0.120.010.13
202214.6013.10-1.50
283
-0.150.010.16
202314.8513.12-1.74
271
-0.180.010.19
202415.0813.13-1.95
259
-0.210.020.22
202515.3013.15-2.15
246
-0.240.020.25
202615.4413.16-2.27
234
-0.320.020.34
202715.5413.17-2.36
221
-0.420.010.43
202815.6113.18-2.43
208
-0.520.010.53
202915.6613.19-2.47
195
-0.620.010.63
203015.6713.20-2.47
181
-0.730.010.74
203115.6513.20-2.44
168
-0.860.000.86
203215.6113.21-2.41
156
-0.980.000.97
203315.5813.21-2.37
143
-1.08-0.011.08
203415.5213.21-2.31
130
-1.18-0.011.17
203515.4613.21-2.25
117
-1.27-0.011.26
203615.3813.21-2.17
105
-1.36-0.021.34
203715.3013.21-2.10
93
-1.43-0.021.41
203815.2213.21-2.01
81
-1.50-0.021.47
203915.1313.20-1.93
70
-1.55-0.031.52
204015.0513.20-1.85
58
-1.59-0.031.56
204114.9813.20-1.78
47
-1.62-0.031.59
204214.9113.20-1.71
36
-1.64-0.031.61
204314.8413.19-1.65
26
-1.67-0.031.64
204414.7713.19-1.58
15
-1.70-0.031.67
204514.7113.19-1.52
5
-1.74-0.041.70
204614.6513.19-1.46
----
-1.77-0.041.73
204714.5913.19-1.40
----
-1.80-0.031.77
204814.5413.19-1.35
----
-1.84-0.031.80
204914.4813.19-1.29
----
-1.88-0.031.84
205014.4213.19-1.23
----
-1.91-0.041.88
205114.3513.19-1.16
----
-1.97-0.041.93
205214.3213.19-1.13
----
-2.01-0.041.97
205314.2313.19-1.04
----
-2.10-0.042.06
205414.1813.19-0.99
----
-2.17-0.042.13
205514.1213.18-0.94
----
-2.25-0.052.20
205614.0913.18-0.91
----
-2.30-0.052.25
205714.0513.18-0.87
----
-2.37-0.062.31
205814.0413.18-0.86
----
-2.40-0.062.34
205914.0113.18-0.84
----
-2.45-0.062.38
206014.0213.18-0.84
----
-2.46-0.062.40
206114.0213.18-0.84
----
-2.49-0.062.43
206214.0413.18-0.86
----
-2.50-0.072.43
206314.0413.18-0.86
----
-2.52-0.072.45
206414.0613.18-0.88
----
-2.52-0.072.46
206514.0713.18-0.89
----
-2.55-0.072.48
206614.1013.18-0.92
----
-2.55-0.072.48
206714.1113.19-0.93
----
-2.57-0.072.50
206814.1513.19-0.96
----
-2.57-0.072.50
206914.1713.19-0.98
----
-2.60-0.072.52
207014.2113.19-1.01
----
-2.60-0.072.53
207114.2213.19-1.03
----
-2.63-0.082.55
207214.2613.20-1.06
----
-2.63-0.082.56
207314.2813.20-1.08
----
-2.66-0.082.58
207414.3213.20-1.11
----
-2.67-0.082.59
207514.3313.20-1.13
----
-2.70-0.082.62
207614.3713.21-1.16
----
-2.71-0.082.63
207714.3713.21-1.16
----
-2.74-0.082.67
207814.3913.21-1.18
----
-2.77-0.082.69
207914.3913.21-1.18
----
-2.81-0.082.73
208014.4113.21-1.20
----
-2.84-0.082.76
208114.3813.21-1.17
----
-2.91-0.092.82
208214.4013.21-1.18
----
-2.94-0.092.86
208314.4013.22-1.18
----
-2.98-0.092.89
208414.4413.22-1.22
----
-2.99-0.092.90
208514.4613.22-1.24
----
-3.01-0.092.92



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of
exhaustion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2010 Trustees Report.
2010-2084 14.54% 13.98% -0.56%
2045
-1.39% -0.03% 1.36%
 
1 Under present law, the year of exhaustion is 2037.

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Last reviewed or modified April 26, 2011