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 |
| 2015 | 308 | 308 |
| 2016 | 298 | 298 |
| 2017 | 280 | 281 |
| 2018 | 264 | 265 |
| 2019 | 248 | 250 |
| 2020 | 233 | 236 |
| 2021 | 219 | 222 |
| 2022 | 204 | 208 |
| 2023 | 189 | 194 |
| 2024 | 173 | 180 |
| 2025 | 157 | 165 |
| 2026 | 142 | 152 |
| 2027 | 126 | 138 |
| 2028 | 110 | 125 |
| 2029 | 94 | 112 |
| 2030 | 77 | 98 |
| 2031 | 60 | 85 |
| 2032 | 42 | 71 |
| 2033 | 23 | 57 |
| 2034 | 4 | 43 |
| 2035 | -16 | 29 |
| 2036 | -36 | 15 |
| 2037 | -57 | 0 |
| 2038 | -78 | -14 |
| 2039 | -100 | -29 |
| 2040 | -122 | -43 |
| 2041 | -144 | -58 |
| 2042 | -166 | -72 |
| 2043 | -189 | -86 |
| 2044 | -211 | -101 |
| 2045 | -234 | -115 |
| 2046 | -257 | -129 |
| 2047 | -280 | -143 |
| 2048 | -303 | -157 |
| 2049 | -327 | -171 |
| 2050 | -351 | -185 |
| 2051 | -375 | -199 |
| 2052 | -398 | -213 |
| 2053 | -423 | -226 |
| 2054 | -447 | -240 |
| 2055 | -472 | -253 |
| 2056 | -496 | -267 |
| 2057 | -522 | -280 |
| 2058 | -548 | -295 |
| 2059 | -574 | -309 |
| 2060 | -601 | -324 |
| 2061 | -629 | -339 |
| 2062 | -657 | -355 |
| 2063 | -685 | -371 |
| 2064 | -714 | -388 |
| 2065 | -744 | -404 |
| 2066 | -774 | -421 |
| 2067 | -804 | -439 |
| 2068 | -835 | -456 |
| 2069 | -867 | -474 |
| 2070 | -899 | -492 |
| 2071 | -932 | -510 |
| 2072 | -965 | -529 |
| 2073 | -1000 | -548 |
| 2074 | -1035 | -568 |
| 2075 | -1072 | -589 |
| 2076 | -1110 | -610 |
| 2077 | -1148 | -631 |
| 2078 | -1188 | -653 |
| 2079 | -1228 | -676 |
| 2080 | -1268 | -698 |
| 2081 | -1309 | -721 |
| 2082 | -1350 | -744 |
| 2083 | -1391 | -766 |
| 2084 | -1432 | -788 |
| 2085 | -1472 | -810 |
| 2086 | -1514 | -832 |
| 2087 | -1555 | -853 |
| 2088 | -1597 | -875 |
| 2089 | -1640 | -896 |
| 2090 | -1683 | -918 |
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