Proposed Provision: C1.7. Increase the normal retirement age (NRA) 3 months per year for those age 62 starting in 2024 and ending in 2031 (NRA reaches 69 for those age 62 in 2031). 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.
OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)
| |
Income Rates |
Cost Rates |
| Year |
Current Law |
Provision |
Current Law |
Provision |
| 2023 | 13.3 | 13.3 | 14.5 | 14.5 |
| 2024 | 12.9 | 12.9 | 14.9 | 14.8 |
| 2025 | 13.0 | 13.0 | 15.0 | 15.0 |
| 2026 | 13.1 | 13.1 | 15.2 | 15.2 |
| 2027 | 13.1 | 13.1 | 15.4 | 15.3 |
| 2028 | 13.1 | 13.1 | 15.6 | 15.4 |
| 2029 | 13.2 | 13.2 | 15.7 | 15.6 |
| 2030 | 13.2 | 13.2 | 15.9 | 15.7 |
| 2031 | 13.2 | 13.2 | 16.0 | 15.8 |
| 2032 | 13.2 | 13.2 | 16.1 | 15.8 |
| 2033 | 13.2 | 13.2 | 16.3 | 15.9 |
| 2034 | 13.3 | 13.2 | 16.4 | 15.9 |
| 2035 | 13.3 | 13.2 | 16.5 | 15.9 |
| 2036 | 13.3 | 13.3 | 16.6 | 15.9 |
| 2037 | 13.3 | 13.3 | 16.6 | 15.9 |
| 2038 | 13.3 | 13.3 | 16.7 | 15.9 |
| 2039 | 13.3 | 13.3 | 16.7 | 15.9 |
| 2040 | 13.3 | 13.3 | 16.8 | 15.9 |
| 2041 | 13.3 | 13.3 | 16.8 | 15.9 |
| 2042 | 13.3 | 13.3 | 16.8 | 15.9 |
| 2043 | 13.3 | 13.3 | 16.8 | 15.9 |
| 2044 | 13.3 | 13.3 | 16.8 | 15.9 |
| 2045 | 13.3 | 13.3 | 16.9 | 15.8 |
| 2046 | 13.3 | 13.3 | 16.9 | 15.8 |
| 2047 | 13.3 | 13.3 | 16.9 | 15.8 |
| 2048 | 13.3 | 13.3 | 16.9 | 15.8 |
| 2049 | 13.3 | 13.3 | 17.0 | 15.8 |
| 2050 | 13.3 | 13.3 | 17.0 | 15.8 |
| 2051 | 13.3 | 13.3 | 17.0 | 15.8 |
| 2052 | 13.3 | 13.3 | 17.1 | 15.8 |
| 2053 | 13.3 | 13.3 | 17.1 | 15.8 |
| 2054 | 13.3 | 13.3 | 17.2 | 15.9 |
| 2055 | 13.3 | 13.3 | 17.2 | 15.9 |
| 2056 | 13.3 | 13.3 | 17.3 | 16.0 |
| 2057 | 13.4 | 13.3 | 17.4 | 16.0 |
| 2058 | 13.4 | 13.3 | 17.5 | 16.1 |
| 2059 | 13.4 | 13.3 | 17.5 | 16.2 |
| 2060 | 13.4 | 13.3 | 17.6 | 16.2 |
| 2061 | 13.4 | 13.3 | 17.7 | 16.3 |
| 2062 | 13.4 | 13.3 | 17.8 | 16.3 |
| 2063 | 13.4 | 13.3 | 17.8 | 16.4 |
| 2064 | 13.4 | 13.3 | 17.9 | 16.5 |
| 2065 | 13.4 | 13.3 | 17.9 | 16.5 |
| 2066 | 13.4 | 13.3 | 18.0 | 16.6 |
| 2067 | 13.4 | 13.3 | 18.1 | 16.6 |
| 2068 | 13.4 | 13.3 | 18.1 | 16.7 |
| 2069 | 13.4 | 13.3 | 18.2 | 16.7 |
| 2070 | 13.4 | 13.3 | 18.2 | 16.8 |
| 2071 | 13.4 | 13.4 | 18.3 | 16.8 |
| 2072 | 13.4 | 13.4 | 18.3 | 16.9 |
| 2073 | 13.4 | 13.4 | 18.4 | 16.9 |
| 2074 | 13.4 | 13.4 | 18.4 | 17.0 |
| 2075 | 13.4 | 13.4 | 18.5 | 17.0 |
| 2076 | 13.4 | 13.4 | 18.5 | 17.0 |
| 2077 | 13.4 | 13.4 | 18.5 | 17.0 |
| 2078 | 13.4 | 13.4 | 18.5 | 17.1 |
| 2079 | 13.4 | 13.4 | 18.5 | 17.0 |
| 2080 | 13.4 | 13.4 | 18.5 | 17.0 |
| 2081 | 13.4 | 13.4 | 18.4 | 17.0 |
| 2082 | 13.4 | 13.4 | 18.4 | 17.0 |
| 2083 | 13.4 | 13.4 | 18.3 | 16.9 |
| 2084 | 13.4 | 13.4 | 18.3 | 16.9 |
| 2085 | 13.4 | 13.4 | 18.2 | 16.8 |
| 2086 | 13.4 | 13.4 | 18.2 | 16.8 |
| 2087 | 13.4 | 13.4 | 18.1 | 16.7 |
| 2088 | 13.4 | 13.3 | 18.0 | 16.6 |
| 2089 | 13.4 | 13.3 | 18.0 | 16.6 |
| 2090 | 13.4 | 13.3 | 17.9 | 16.5 |
| 2091 | 13.4 | 13.3 | 17.8 | 16.5 |
| 2092 | 13.4 | 13.3 | 17.8 | 16.4 |
| 2093 | 13.4 | 13.3 | 17.8 | 16.4 |
| 2094 | 13.4 | 13.3 | 17.8 | 16.4 |
| 2095 | 13.4 | 13.3 | 17.7 | 16.4 |
| 2096 | 13.4 | 13.3 | 17.7 | 16.4 |
| 2097 | 13.4 | 13.3 | 17.8 | 16.4 |
| 2098 | 13.4 | 13.3 | 17.8 | 16.4 |
back