Description of Proposed Provision:
C1.2: After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, increase the NRA 2 months per year until the NRA reaches 68.

Financial Estimates for the OASDI Trust Fund Program

  Proposal   Change from Current Law
  Expressed as a percentage of
current-law taxable payroll

Trust fund
ratio as of
January 1
Expressed as a percentage of
current-law taxable payroll
Calendar
year
Cost
rate
Income
rate
Annual
balance

Cost
rate
Income
rate
Annual
balance
201713.4113.03-0.38
298
0.000.000.00
201813.4912.93-0.56
287
0.000.000.00
201913.7012.95-0.75
273
0.000.000.00
202013.8512.96-0.89
259
0.000.000.00
202114.0212.99-1.03
245
0.000.000.00
202214.2613.02-1.23
230
0.000.000.00
202314.5313.05-1.48
215
-0.01-0.000.01
202414.8013.08-1.71
199
-0.03-0.000.03
202515.0513.10-1.95
183
-0.05-0.000.05
202615.3113.13-2.17
167
-0.06-0.000.06
202715.5313.15-2.38
150
-0.08-0.000.08
202815.7513.17-2.59
132
-0.10-0.000.10
202915.9413.18-2.76
115
-0.12-0.000.12
203016.1213.19-2.93
98
-0.14-0.000.14
203116.2313.20-3.03
80
-0.22-0.010.21
203216.3413.21-3.13
62
-0.26-0.010.26
203316.4313.22-3.22
44
-0.31-0.010.30
203416.5113.22-3.28
25
-0.34-0.010.33
203516.5613.23-3.33
6
-0.37-0.010.36
203616.6013.23-3.37
----
-0.39-0.010.38
203716.6113.23-3.38
----
-0.41-0.020.40
203816.5913.23-3.36
----
-0.43-0.020.41
203916.5513.23-3.32
----
-0.45-0.020.43
204016.5013.23-3.27
----
-0.47-0.020.45
204116.4313.23-3.21
----
-0.48-0.020.46
204216.3613.22-3.14
----
-0.50-0.020.48
204316.2913.22-3.08
----
-0.51-0.020.49
204416.2313.22-3.02
----
-0.53-0.020.51
204516.1813.21-2.96
----
-0.54-0.020.52
204616.1213.21-2.91
----
-0.56-0.020.53
204716.0713.21-2.86
----
-0.57-0.020.55
204816.0313.21-2.82
----
-0.59-0.030.56
204915.9913.21-2.78
----
-0.60-0.030.58
205015.9513.20-2.75
----
-0.62-0.030.59
205115.9313.20-2.72
----
-0.63-0.030.60
205215.9113.20-2.71
----
-0.64-0.030.61
205315.9213.20-2.71
----
-0.65-0.030.62
205415.9313.21-2.72
----
-0.66-0.030.63
205515.9513.21-2.74
----
-0.67-0.030.64
205615.9813.21-2.77
----
-0.68-0.030.65
205716.0113.21-2.80
----
-0.69-0.030.66
205816.0513.21-2.83
----
-0.69-0.030.66
205916.0913.22-2.87
----
-0.70-0.030.66
206016.1313.22-2.91
----
-0.70-0.030.67
206116.1813.22-2.95
----
-0.70-0.030.67
206216.2213.23-3.00
----
-0.70-0.030.67
206316.2713.23-3.04
----
-0.70-0.030.67
206416.3113.23-3.08
----
-0.70-0.030.67
206516.3613.24-3.13
----
-0.70-0.030.67
206616.4113.24-3.17
----
-0.71-0.030.67
206716.4613.24-3.22
----
-0.71-0.030.68
206816.5113.25-3.27
----
-0.71-0.030.68
206916.5613.25-3.31
----
-0.71-0.030.68
207016.6113.25-3.36
----
-0.72-0.030.68
207116.6513.25-3.40
----
-0.72-0.030.69
207216.6913.26-3.44
----
-0.72-0.030.69
207316.7313.26-3.47
----
-0.72-0.030.69
207416.7613.26-3.50
----
-0.72-0.030.69
207516.7813.26-3.52
----
-0.72-0.030.68
207616.8013.26-3.54
----
-0.72-0.030.68
207716.8113.26-3.55
----
-0.71-0.030.68
207816.8113.26-3.55
----
-0.71-0.030.68
207916.8113.26-3.54
----
-0.71-0.030.68
208016.8013.26-3.54
----
-0.71-0.030.68
208116.8013.26-3.53
----
-0.71-0.030.68
208216.8013.26-3.53
----
-0.71-0.030.68
208316.8013.26-3.54
----
-0.71-0.030.68
208416.8113.26-3.55
----
-0.71-0.030.68
208516.8313.27-3.57
----
-0.72-0.030.68
208616.8613.27-3.59
----
-0.72-0.030.69
208716.8913.27-3.62
----
-0.73-0.030.69
208816.9313.27-3.66
----
-0.73-0.030.70
208916.9713.27-3.69
----
-0.73-0.030.70
209017.0113.28-3.74
----
-0.73-0.030.70
209117.0613.28-3.78
----
-0.74-0.030.70
209217.1113.28-3.82
----
-0.74-0.030.70


Summarized Estimates

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

Year of reserve
depletion
1

Cost
rate
Income
rate
Actuarial
balance
2017-2091 16.19% 13.82% -2.37%
2035
-0.48% -0.02% 0.46%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2017 Trustees Report.