Proposed Provision: Increase the normal retirement age (NRA) 3 months per year starting for those age 62 in 2017 until the NRA reaches 70 in 2032. 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 2021 through 2028. Keep EEA at 64 thereafter.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
| Year |
Present Law |
Provision |
| 2013 | 330 | 330 |
| 2014 | 315 | 315 |
| 2015 | 301 | 301 |
| 2016 | 286 | 286 |
| 2017 | 271 | 272 |
| 2018 | 257 | 259 |
| 2019 | 244 | 246 |
| 2020 | 231 | 234 |
| 2021 | 218 | 222 |
| 2022 | 204 | 208 |
| 2023 | 189 | 195 |
| 2024 | 173 | 181 |
| 2025 | 158 | 167 |
| 2026 | 142 | 153 |
| 2027 | 125 | 139 |
| 2028 | 108 | 124 |
| 2029 | 90 | 110 |
| 2030 | 71 | 95 |
| 2031 | 52 | 79 |
| 2032 | 31 | 64 |
| 2033 | 11 | 48 |
| 2034 | -11 | 33 |
| 2035 | -32 | 17 |
| 2036 | -55 | 1 |
| 2037 | -78 | -15 |
| 2038 | -101 | -31 |
| 2039 | -124 | -47 |
| 2040 | -148 | -63 |
| 2041 | -172 | -79 |
| 2042 | -196 | -94 |
| 2043 | -220 | -109 |
| 2044 | -245 | -125 |
| 2045 | -269 | -140 |
| 2046 | -294 | -155 |
| 2047 | -319 | -171 |
| 2048 | -345 | -186 |
| 2049 | -371 | -201 |
| 2050 | -397 | -217 |
| 2051 | -423 | -232 |
| 2052 | -449 | -247 |
| 2053 | -476 | -262 |
| 2054 | -502 | -278 |
| 2055 | -530 | -293 |
| 2056 | -557 | -308 |
| 2057 | -585 | -323 |
| 2058 | -613 | -339 |
| 2059 | -642 | -356 |
| 2060 | -671 | -372 |
| 2061 | -701 | -389 |
| 2062 | -732 | -407 |
| 2063 | -763 | -425 |
| 2064 | -794 | -443 |
| 2065 | -826 | -462 |
| 2066 | -859 | -481 |
| 2067 | -892 | -500 |
| 2068 | -925 | -519 |
| 2069 | -959 | -539 |
| 2070 | -993 | -559 |
| 2071 | -1028 | -579 |
| 2072 | -1064 | -599 |
| 2073 | -1101 | -621 |
| 2074 | -1139 | -642 |
| 2075 | -1178 | -665 |
| 2076 | -1217 | -687 |
| 2077 | -1258 | -710 |
| 2078 | -1299 | -733 |
| 2079 | -1340 | -757 |
| 2080 | -1382 | -781 |
| 2081 | -1424 | -803 |
| 2082 | -1466 | -826 |
| 2083 | -1508 | -849 |
| 2084 | -1550 | -872 |
| 2085 | -1592 | -895 |
| 2086 | -1635 | -918 |
| 2087 | -1678 | -941 |
| 2088 | -1722 | -965 |
back