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Detailed Single Year Tables

Description of Proposed Provision:
C1.7: After the normal retirement age (NRA) reaches 67 for those attaining age 62 in 2022, increase the NRA by 3 months per year starting for attaining age 62 in 2023 until it reaches 69 for those attaining age 62 in 2030. Increase the age up to which delayed retirement credits may be earned from 70 to 72 on the same schedule. Increase the widow(er) NRA in the same manner. The earliest eligibility age (EEA) for worker's and widow(er)'s benefit is unchanged.

 

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
202415.0013.09-1.91
183
-0.020.000.02
202515.2513.11-2.14
166
-0.040.000.04
202615.4213.12-2.29
150
-0.050.000.05
202715.5813.14-2.44
133
-0.070.000.06
202815.7313.15-2.58
117
-0.080.000.08
202915.8113.17-2.65
101
-0.150.000.15
203015.8613.17-2.69
85
-0.24-0.010.23
203115.8713.18-2.69
69
-0.35-0.010.34
203215.8813.19-2.69
53
-0.45-0.010.44
203315.8713.19-2.68
37
-0.54-0.020.52
203415.8513.19-2.66
21
-0.61-0.020.59
203515.8213.19-2.62
5
-0.68-0.020.66
203615.8313.20-2.63
----
-0.73-0.020.70
203715.8213.20-2.62
----
-0.78-0.030.75
203815.8013.20-2.60
----
-0.82-0.030.79
203915.7513.20-2.56
----
-0.86-0.030.82
204015.7013.20-2.50
----
-0.89-0.030.86
204115.6413.20-2.45
----
-0.92-0.040.88
204215.5913.19-2.39
----
-0.95-0.040.91
204315.5213.19-2.33
----
-0.98-0.040.94
204415.4613.19-2.27
----
-1.00-0.040.96
204515.4213.19-2.23
----
-1.03-0.040.99
204615.3713.19-2.18
----
-1.06-0.041.02
204715.3213.19-2.13
----
-1.09-0.041.04
204815.2713.18-2.09
----
-1.11-0.051.07
204915.2313.18-2.05
----
-1.14-0.051.09
205015.2013.18-2.01
----
-1.16-0.051.11
205115.1713.18-1.99
----
-1.19-0.051.14
205215.1613.18-1.97
----
-1.21-0.051.16
205315.1613.18-1.97
----
-1.23-0.051.18
205415.1713.19-1.99
----
-1.25-0.051.20
205515.1913.19-2.00
----
-1.27-0.051.22
205615.2213.19-2.03
----
-1.29-0.061.23
205715.2613.19-2.06
----
-1.30-0.061.24
205815.3013.20-2.10
----
-1.31-0.061.25
205915.3413.20-2.14
----
-1.32-0.061.26
206015.3813.20-2.18
----
-1.32-0.061.27
206115.4313.21-2.23
----
-1.32-0.061.27
206215.4813.21-2.27
----
-1.33-0.061.27
206315.5313.21-2.31
----
-1.33-0.061.27
206415.5713.22-2.35
----
-1.33-0.061.28
206515.6213.22-2.40
----
-1.34-0.061.28
206615.6713.22-2.44
----
-1.34-0.061.28
206715.7213.23-2.49
----
-1.34-0.061.28
206815.7713.23-2.54
----
-1.35-0.061.29
206915.8113.23-2.58
----
-1.35-0.061.29
207015.8613.24-2.62
----
-1.36-0.061.30
207115.9013.24-2.66
----
-1.36-0.061.30
207215.9413.24-2.70
----
-1.37-0.061.30
207315.9713.24-2.73
----
-1.37-0.061.31
207416.0013.25-2.76
----
-1.37-0.061.31
207516.0313.25-2.78
----
-1.36-0.061.30
207616.0513.25-2.80
----
-1.36-0.061.29
207716.0613.25-2.81
----
-1.35-0.061.29
207816.0613.25-2.81
----
-1.35-0.061.29
207916.0613.25-2.81
----
-1.34-0.061.28
208016.0613.25-2.81
----
-1.34-0.061.28
208116.0613.25-2.81
----
-1.34-0.061.28
208216.0713.25-2.82
----
-1.34-0.061.28
208316.0813.25-2.83
----
-1.34-0.061.28
208416.0913.25-2.84
----
-1.35-0.061.28
208516.1213.25-2.86
----
-1.35-0.061.29
208616.1413.26-2.88
----
-1.37-0.061.30
208716.1713.26-2.91
----
-1.38-0.061.31
208816.2013.26-2.94
----
-1.38-0.061.32
208916.2413.26-2.98
----
-1.39-0.061.33
209016.2813.27-3.02
----
-1.39-0.061.33
209116.3313.27-3.06
----
-1.40-0.061.33



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 15.62% 13.81% -1.81%
2035
-0.88% -0.04% 0.84%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified February 24, 2017