Detailed Single Year Tables

Retirement Age	Description of Proposed Provision: Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 in 2020-21 to 68 and 63, respectively and then by 3 months per year in 2022-25 to 69 and 64, respectively.

			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	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2012	13.83	12.89	-0.93	340	0.00	0.00	0.00
2013	13.95	12.83	-1.12	329	0.00	0.00	0.00
2014	13.98	12.93	-1.05	315	0.00	0.00	0.00
2015	13.97	12.95	-1.01	302	0.00	0.00	0.00
2016	13.94	12.98	-0.96	290	0.00	0.00	0.00
2017	13.91	13.01	-0.91	277	0.00	0.00	0.00
2018	13.96	13.03	-0.93	265	0.00	0.00	0.00
2019	14.13	13.05	-1.08	253	0.00	0.00	0.00
2020	14.30	13.08	-1.23	242	-0.07	0.00	0.08
2021	14.50	13.11	-1.39	230	-0.15	0.00	0.15
2022	14.74	13.13	-1.61	217	-0.23	0.00	0.24
2023	14.97	13.15	-1.82	204	-0.32	0.01	0.32
2024	15.19	13.17	-2.02	191	-0.41	0.01	0.41
2025	15.38	13.19	-2.20	177	-0.50	0.01	0.51
2026	15.49	13.20	-2.29	164	-0.67	0.00	0.67
2027	15.61	13.21	-2.40	151	-0.80	0.00	0.80
2028	15.73	13.23	-2.51	137	-0.90	0.00	0.90
2029	15.85	13.24	-2.62	122	-0.98	0.00	0.98
2030	15.97	13.25	-2.73	107	-1.03	0.00	1.03
2031	16.10	13.25	-2.85	91	-1.04	0.00	1.04
2032	16.19	13.26	-2.93	74	-1.06	-0.01	1.05
2033	16.26	13.26	-3.00	57	-1.07	-0.01	1.06
2034	16.31	13.27	-3.04	40	-1.07	-0.01	1.06
2035	16.33	13.27	-3.06	22	-1.08	-0.01	1.07
2036	16.36	13.27	-3.09	4	-1.07	-0.01	1.06
2037	16.36	13.27	-3.09	----	-1.07	-0.01	1.06
2038	16.34	13.27	-3.07	----	-1.08	-0.01	1.06
2039	16.31	13.27	-3.04	----	-1.09	-0.01	1.07
2040	16.26	13.27	-2.99	----	-1.10	-0.02	1.08
2041	16.20	13.26	-2.94	----	-1.12	-0.02	1.10
2042	16.15	13.26	-2.88	----	-1.13	-0.02	1.12
2043	16.09	13.26	-2.83	----	-1.15	-0.02	1.13
2044	16.05	13.26	-2.79	----	-1.17	-0.02	1.15
2045	16.01	13.26	-2.75	----	-1.18	-0.02	1.16
2046	15.97	13.25	-2.71	----	-1.19	-0.02	1.17
2047	15.93	13.25	-2.68	----	-1.20	-0.02	1.18
2048	15.90	13.25	-2.65	----	-1.21	-0.02	1.19
2049	15.87	13.25	-2.62	----	-1.22	-0.02	1.20
2050	15.85	13.25	-2.59	----	-1.23	-0.02	1.21
2051	15.83	13.25	-2.58	----	-1.24	-0.02	1.22
2052	15.82	13.25	-2.57	----	-1.25	-0.02	1.23
2053	15.82	13.25	-2.56	----	-1.25	-0.02	1.23
2054	15.82	13.25	-2.57	----	-1.26	-0.02	1.23
2055	15.84	13.26	-2.58	----	-1.25	-0.02	1.23
2056	15.85	13.26	-2.60	----	-1.25	-0.02	1.23
2057	15.87	13.26	-2.62	----	-1.25	-0.02	1.23
2058	15.89	13.26	-2.64	----	-1.24	-0.02	1.22
2059	15.91	13.26	-2.65	----	-1.24	-0.02	1.21
2060	15.92	13.26	-2.66	----	-1.23	-0.02	1.21
2061	15.94	13.26	-2.68	----	-1.22	-0.02	1.20
2062	15.95	13.26	-2.69	----	-1.22	-0.02	1.20
2063	15.96	13.26	-2.69	----	-1.22	-0.02	1.20
2064	15.97	13.26	-2.70	----	-1.22	-0.02	1.20
2065	15.98	13.26	-2.71	----	-1.22	-0.02	1.20
2066	15.99	13.27	-2.73	----	-1.22	-0.02	1.20
2067	16.01	13.27	-2.75	----	-1.23	-0.02	1.20
2068	16.03	13.27	-2.77	----	-1.23	-0.02	1.21
2069	16.06	13.27	-2.79	----	-1.23	-0.02	1.21
2070	16.09	13.27	-2.82	----	-1.23	-0.02	1.21
2071	16.12	13.27	-2.85	----	-1.23	-0.02	1.21
2072	16.15	13.28	-2.87	----	-1.23	-0.02	1.21
2073	16.17	13.28	-2.89	----	-1.23	-0.02	1.21
2074	16.20	13.28	-2.92	----	-1.23	-0.02	1.21
2075	16.23	13.28	-2.95	----	-1.23	-0.02	1.21
2076	16.25	13.28	-2.97	----	-1.23	-0.02	1.21
2077	16.28	13.29	-2.99	----	-1.24	-0.02	1.21
2078	16.30	13.29	-3.01	----	-1.24	-0.02	1.21
2079	16.33	13.29	-3.04	----	-1.24	-0.02	1.22
2080	16.36	13.29	-3.07	----	-1.24	-0.02	1.22
2081	16.39	13.29	-3.10	----	-1.25	-0.02	1.22
2082	16.43	13.30	-3.13	----	-1.25	-0.02	1.22
2083	16.47	13.30	-3.17	----	-1.25	-0.02	1.22
2084	16.51	13.30	-3.20	----	-1.25	-0.02	1.23
2085	16.55	13.30	-3.24	----	-1.25	-0.02	1.23
2086	16.59	13.31	-3.28	----	-1.25	-0.02	1.22
2087	16.62	13.31	-3.32	----	-1.25	-0.02	1.22

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2012 Trustees Report.
2012-2086	15.78%	14.01%	-1.77%	2036	-0.91%	-0.01%	0.89%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Description of Proposed Provision: Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 in 2020-21 to 68 and 63, respectively and then by 3 months per year in 2022-25 to 69 and 64, respectively.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 in 2020-21 to 68 and 63, respectively and then by 3 months per year in 2022-25 to 69 and 64, respectively.