Summary Measures and Graphs
Description of Proposed Provision:
C1.1: Starting with those age 62 in 2024, increase the normal retirement age (NRA) 1 month every 2 years until the NRA reaches 68.
Estimates based on the intermediate assumptions
of the 2023 Trustees Report
Summary Measures | |||||||
---|---|---|---|---|---|---|---|
Current law [percent of payroll] |
Change from current law [percent of payroll] |
Shortfall eliminated | |||||
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
Long-range actuarial balance |
Annual balance in 75th year |
||
-3.61 | -4.35 | 0.43 | 0.69 | 12% | 16% |