Proposed Provision: B7.12. Provide an option to split the 8-percent delayed retirement credit (DRC) to offer a lump sum benefit at initial entitlement equal to 2 percent of the 8 percent DRC earned, and a 6 percent DRC on subsequent monthly benefits, effective for workers newly entitled to retired worker benefits in 2024 and later. Widows are held harmless from the lump-sum decision.
OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)
Year |
Current Law |
Provision |
2021 | 253 | 253 |
2022 | 231 | 231 |
2023 | 214 | 214 |
2024 | 196 | 195 |
2025 | 178 | 177 |
2026 | 159 | 158 |
2027 | 141 | 139 |
2028 | 122 | 121 |
2029 | 104 | 102 |
2030 | 85 | 83 |
2031 | 66 | 64 |
2032 | 46 | 44 |
2033 | 27 | 25 |
2034 | 7 | 5 |
2035 | -13 | -15 |
2036 | -33 | -36 |
2037 | -54 | -57 |
2038 | -76 | -78 |
2039 | -97 | -100 |
2040 | -119 | -122 |
2041 | -142 | -144 |
2042 | -165 | -167 |
2043 | -188 | -190 |
2044 | -211 | -214 |
2045 | -235 | -237 |
2046 | -258 | -261 |
2047 | -282 | -285 |
2048 | -306 | -308 |
2049 | -330 | -332 |
2050 | -354 | -357 |
2051 | -378 | -381 |
2052 | -403 | -405 |
2053 | -427 | -430 |
2054 | -452 | -455 |
2055 | -477 | -480 |
2056 | -502 | -505 |
2057 | -527 | -530 |
2058 | -552 | -555 |
2059 | -578 | -580 |
2060 | -604 | -606 |
2061 | -630 | -633 |
2062 | -657 | -660 |
2063 | -684 | -687 |
2064 | -712 | -714 |
2065 | -740 | -742 |
2066 | -768 | -771 |
2067 | -796 | -799 |
2068 | -825 | -828 |
2069 | -855 | -858 |
2070 | -884 | -887 |
2071 | -914 | -917 |
2072 | -945 | -948 |
2073 | -976 | -978 |
2074 | -1007 | -1010 |
2075 | -1039 | -1041 |
2076 | -1071 | -1074 |
2077 | -1105 | -1108 |
2078 | -1139 | -1142 |
2079 | -1175 | -1178 |
2080 | -1211 | -1214 |
2081 | -1248 | -1251 |
2082 | -1286 | -1289 |
2083 | -1324 | -1327 |
2084 | -1363 | -1366 |
2085 | -1403 | -1406 |
2086 | -1443 | -1446 |
2087 | -1483 | -1486 |
2088 | -1524 | -1527 |
2089 | -1564 | -1568 |
2090 | -1604 | -1608 |
2091 | -1643 | -1647 |
2092 | -1681 | -1684 |
2093 | -1718 | -1721 |
2094 | -1754 | -1757 |
2095 | -1789 | -1792 |
2096 | -1825 | -1828 |
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