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Detailed Single Year Tables
Retirement Age

Description of Proposed Provision:
C1.3: After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, 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.

 

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
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8612.96-0.90
277
0.000.000.00
201913.9912.97-1.02
262
0.000.000.00
202014.1312.98-1.15
246
0.000.000.00
202114.2713.00-1.27
231
0.000.000.00
202214.4913.03-1.46
216
0.000.000.00
202314.7513.06-1.69
200
-0.010.000.01
202415.0113.09-1.92
183
-0.010.000.01
202515.2713.11-2.16
166
-0.020.000.02
202615.4413.13-2.32
149
-0.030.000.03
202715.6113.14-2.47
132
-0.030.000.03
202815.7713.15-2.62
116
-0.040.000.04
202915.9213.17-2.75
99
-0.050.000.05
203016.0413.18-2.87
82
-0.060.000.06
203116.1613.19-2.97
65
-0.060.000.06
203216.2513.20-3.06
48
-0.070.000.07
203316.3213.20-3.12
30
-0.090.000.08
203416.3613.21-3.15
11
-0.100.000.10
203516.3813.21-3.17
----
-0.120.000.11
203616.4213.22-3.20
----
-0.140.000.13
203716.4413.22-3.22
----
-0.16-0.010.15
203816.4413.22-3.21
----
-0.18-0.010.17
203916.4113.22-3.19
----
-0.20-0.010.19
204016.3813.22-3.15
----
-0.21-0.010.21
204116.3313.22-3.11
----
-0.23-0.010.22
204216.2813.22-3.06
----
-0.25-0.010.24
204316.2313.22-3.01
----
-0.27-0.010.26
204416.1713.22-2.95
----
-0.30-0.010.28
204516.1313.22-2.91
----
-0.32-0.010.31
204616.0813.22-2.86
----
-0.34-0.010.33
204716.0313.22-2.82
----
-0.37-0.010.36
204815.9913.22-2.77
----
-0.40-0.020.38
204915.9413.21-2.73
----
-0.42-0.020.41
205015.9013.21-2.69
----
-0.45-0.020.44
205115.8713.21-2.66
----
-0.49-0.020.47
205215.8613.21-2.64
----
-0.52-0.020.50
205315.8513.21-2.63
----
-0.55-0.020.52
205415.8513.22-2.63
----
-0.58-0.020.55
205515.8613.22-2.64
----
-0.61-0.020.58
205615.8713.22-2.65
----
-0.64-0.030.61
205715.8913.22-2.67
----
-0.66-0.030.64
205815.9113.23-2.69
----
-0.69-0.030.66
205915.9313.23-2.71
----
-0.72-0.030.69
206015.9613.23-2.73
----
-0.75-0.030.72
206115.9813.23-2.75
----
-0.78-0.030.75
206216.0013.23-2.76
----
-0.81-0.030.77
206316.0213.24-2.78
----
-0.84-0.040.80
206416.0413.24-2.80
----
-0.87-0.040.83
206516.0613.24-2.82
----
-0.89-0.040.86
206616.0913.24-2.84
----
-0.92-0.040.88
206716.1113.24-2.87
----
-0.95-0.040.91
206816.1313.25-2.89
----
-0.98-0.040.94
206916.1613.25-2.91
----
-1.01-0.040.96
207016.1813.25-2.93
----
-1.04-0.050.99
207116.1913.25-2.94
----
-1.07-0.051.02
207216.2013.25-2.95
----
-1.10-0.051.05
207316.2113.26-2.95
----
-1.13-0.051.08
207416.2113.26-2.95
----
-1.16-0.051.11
207516.2113.26-2.95
----
-1.19-0.051.13
207616.2113.26-2.95
----
-1.20-0.051.14
207716.1913.26-2.93
----
-1.22-0.061.16
207816.1713.26-2.91
----
-1.24-0.061.19
207916.1313.25-2.88
----
-1.27-0.061.22
208016.1013.25-2.84
----
-1.31-0.061.25
208116.0813.25-2.82
----
-1.33-0.061.27
208216.0613.25-2.80
----
-1.35-0.061.29
208316.0413.25-2.79
----
-1.38-0.061.32
208416.0313.25-2.78
----
-1.41-0.061.35
208516.0213.25-2.77
----
-1.45-0.071.38
208616.0013.25-2.75
----
-1.50-0.071.43
208716.0013.25-2.75
----
-1.54-0.071.47
208816.0113.25-2.77
----
-1.57-0.071.50
208916.0413.25-2.79
----
-1.59-0.081.52
209016.0713.25-2.82
----
-1.61-0.081.53
209116.1213.25-2.86
----
-1.61-0.081.53



 

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 2016 Trustees Report.
2016-2090 15.96% 13.82% -2.14%
2034
-0.54% -0.02% 0.52%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016