Detailed Single Year Tables
Description of Proposed Provision:
C2.2: 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. Also, raise the earliest eligibility age (EEA) for retired-workers, aged widow(er)s, and disabled widow(er)s by the same amount as the NRA starting for those attaining EEA in 2020.
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 |
|||
| 2019 | 13.91 | 12.85 | -1.06 | 273 | 0.00 | 0.00 | 0.00 | ||
| 2020 | 13.94 | 12.87 | -1.07 | 260 | -0.00 | 0.00 | 0.00 | ||
| 2021 | 14.08 | 12.90 | -1.18 | 245 | -0.01 | 0.00 | 0.01 | ||
| 2022 | 14.22 | 12.92 | -1.29 | 230 | -0.01 | 0.00 | 0.01 | ||
| 2023 | 14.38 | 12.94 | -1.43 | 214 | -0.02 | 0.00 | 0.02 | ||
| 2024 | 14.56 | 12.97 | -1.58 | 198 | -0.03 | 0.00 | 0.03 | ||
| 2025 | 14.75 | 12.99 | -1.76 | 181 | -0.04 | 0.01 | 0.04 | ||
| 2026 | 14.94 | 13.12 | -1.82 | 165 | -0.05 | 0.01 | 0.05 | ||
| 2027 | 15.13 | 13.14 | -1.99 | 149 | -0.06 | 0.01 | 0.06 | ||
| 2028 | 15.36 | 13.18 | -2.18 | 132 | -0.07 | 0.01 | 0.08 | ||
| 2029 | 15.55 | 13.20 | -2.35 | 116 | -0.08 | 0.01 | 0.09 | ||
| 2030 | 15.72 | 13.21 | -2.50 | 100 | -0.09 | 0.01 | 0.10 | ||
| 2031 | 15.87 | 13.23 | -2.64 | 84 | -0.10 | 0.01 | 0.11 | ||
| 2032 | 16.00 | 13.24 | -2.76 | 67 | -0.11 | 0.01 | 0.12 | ||
| 2033 | 16.11 | 13.25 | -2.86 | 51 | -0.12 | 0.01 | 0.13 | ||
| 2034 | 16.19 | 13.25 | -2.94 | 34 | -0.13 | 0.01 | 0.14 | ||
| 2035 | 16.25 | 13.26 | -2.99 | 16 | -0.15 | 0.01 | 0.16 | ||
| 2036 | 16.30 | 13.27 | -3.03 | ---- | -0.16 | 0.01 | 0.17 | ||
| 2037 | 16.35 | 13.27 | -3.07 | ---- | -0.17 | 0.01 | 0.18 | ||
| 2038 | 16.38 | 13.28 | -3.10 | ---- | -0.19 | 0.01 | 0.19 | ||
| 2039 | 16.40 | 13.28 | -3.12 | ---- | -0.20 | 0.01 | 0.21 | ||
| 2040 | 16.40 | 13.28 | -3.12 | ---- | -0.21 | 0.01 | 0.22 | ||
| 2041 | 16.38 | 13.28 | -3.10 | ---- | -0.23 | 0.01 | 0.23 | ||
| 2042 | 16.35 | 13.28 | -3.07 | ---- | -0.24 | 0.01 | 0.25 | ||
| 2043 | 16.30 | 13.28 | -3.02 | ---- | -0.26 | 0.01 | 0.27 | ||
| 2044 | 16.25 | 13.28 | -2.97 | ---- | -0.28 | 0.01 | 0.28 | ||
| 2045 | 16.19 | 13.28 | -2.91 | ---- | -0.30 | 0.01 | 0.30 | ||
| 2046 | 16.14 | 13.28 | -2.86 | ---- | -0.32 | 0.01 | 0.32 | ||
| 2047 | 16.09 | 13.28 | -2.81 | ---- | -0.34 | 0.01 | 0.34 | ||
| 2048 | 16.04 | 13.28 | -2.77 | ---- | -0.36 | 0.01 | 0.37 | ||
| 2049 | 16.00 | 13.28 | -2.72 | ---- | -0.38 | 0.01 | 0.39 | ||
| 2050 | 15.96 | 13.28 | -2.68 | ---- | -0.41 | 0.01 | 0.42 | ||
| 2051 | 15.92 | 13.28 | -2.64 | ---- | -0.44 | 0.01 | 0.45 | ||
| 2052 | 15.90 | 13.28 | -2.62 | ---- | -0.47 | 0.01 | 0.48 | ||
| 2053 | 15.88 | 13.28 | -2.60 | ---- | -0.50 | 0.01 | 0.50 | ||
| 2054 | 15.86 | 13.28 | -2.58 | ---- | -0.52 | 0.01 | 0.53 | ||
| 2055 | 15.86 | 13.28 | -2.58 | ---- | -0.55 | 0.01 | 0.55 | ||
| 2056 | 15.87 | 13.29 | -2.59 | ---- | -0.57 | 0.01 | 0.57 | ||
| 2057 | 15.89 | 13.29 | -2.60 | ---- | -0.59 | 0.01 | 0.60 | ||
| 2058 | 15.91 | 13.29 | -2.62 | ---- | -0.61 | 0.01 | 0.62 | ||
| 2059 | 15.94 | 13.30 | -2.65 | ---- | -0.63 | 0.00 | 0.64 | ||
| 2060 | 15.97 | 13.30 | -2.67 | ---- | -0.65 | 0.00 | 0.66 | ||
| 2061 | 16.01 | 13.31 | -2.70 | ---- | -0.67 | 0.00 | 0.68 | ||
| 2062 | 16.04 | 13.31 | -2.73 | ---- | -0.69 | 0.00 | 0.70 | ||
| 2063 | 16.07 | 13.31 | -2.76 | ---- | -0.72 | 0.00 | 0.72 | ||
| 2064 | 16.10 | 13.32 | -2.79 | ---- | -0.74 | 0.00 | 0.74 | ||
| 2065 | 16.13 | 13.32 | -2.81 | ---- | -0.76 | 0.00 | 0.76 | ||
| 2066 | 16.16 | 13.32 | -2.84 | ---- | -0.79 | 0.00 | 0.79 | ||
| 2067 | 16.20 | 13.33 | -2.87 | ---- | -0.82 | 0.00 | 0.82 | ||
| 2068 | 16.24 | 13.33 | -2.90 | ---- | -0.84 | 0.00 | 0.84 | ||
| 2069 | 16.27 | 13.33 | -2.94 | ---- | -0.86 | 0.00 | 0.86 | ||
| 2070 | 16.31 | 13.34 | -2.98 | ---- | -0.88 | 0.00 | 0.88 | ||
| 2071 | 16.35 | 13.34 | -3.01 | ---- | -0.90 | 0.00 | 0.90 | ||
| 2072 | 16.39 | 13.35 | -3.04 | ---- | -0.92 | 0.00 | 0.92 | ||
| 2073 | 16.41 | 13.35 | -3.06 | ---- | -0.93 | 0.00 | 0.93 | ||
| 2074 | 16.44 | 13.35 | -3.09 | ---- | -0.95 | 0.00 | 0.95 | ||
| 2075 | 16.46 | 13.36 | -3.11 | ---- | -0.97 | 0.00 | 0.97 | ||
| 2076 | 16.47 | 13.36 | -3.11 | ---- | -0.99 | -0.00 | 0.99 | ||
| 2077 | 16.47 | 13.36 | -3.11 | ---- | -1.01 | -0.00 | 1.01 | ||
| 2078 | 16.46 | 13.36 | -3.10 | ---- | -1.02 | -0.00 | 1.02 | ||
| 2079 | 16.44 | 13.36 | -3.08 | ---- | -1.04 | -0.00 | 1.04 | ||
| 2080 | 16.41 | 13.36 | -3.05 | ---- | -1.05 | -0.00 | 1.05 | ||
| 2081 | 16.39 | 13.36 | -3.03 | ---- | -1.06 | -0.00 | 1.05 | ||
| 2082 | 16.36 | 13.35 | -3.01 | ---- | -1.06 | -0.00 | 1.06 | ||
| 2083 | 16.32 | 13.35 | -2.97 | ---- | -1.08 | -0.01 | 1.07 | ||
| 2084 | 16.27 | 13.35 | -2.92 | ---- | -1.11 | -0.01 | 1.10 | ||
| 2085 | 16.21 | 13.35 | -2.87 | ---- | -1.14 | -0.01 | 1.13 | ||
| 2086 | 16.14 | 13.34 | -2.80 | ---- | -1.20 | -0.01 | 1.19 | ||
| 2087 | 16.08 | 13.34 | -2.74 | ---- | -1.24 | -0.01 | 1.24 | ||
| 2088 | 16.04 | 13.34 | -2.70 | ---- | -1.28 | -0.01 | 1.27 | ||
| 2089 | 16.02 | 13.34 | -2.68 | ---- | -1.31 | -0.01 | 1.30 | ||
| 2090 | 16.02 | 13.34 | -2.68 | ---- | -1.34 | -0.01 | 1.33 | ||
| 2091 | 16.04 | 13.35 | -2.69 | ---- | -1.35 | -0.01 | 1.34 | ||
| 2092 | 16.07 | 13.35 | -2.72 | ---- | -1.36 | -0.01 | 1.35 | ||
| 2093 | 16.11 | 13.35 | -2.75 | ---- | -1.37 | -0.01 | 1.36 | ||
| 2094 | 16.15 | 13.36 | -2.79 | ---- | -1.37 | -0.01 | 1.36 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2019-2093 | 16.06% | 13.81% | -2.25% | 2035 | -0.54% | 0.00% | 0.54% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2035. |
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Based on Intermediate Assumptions of the 2019 Trustees Report.