Detailed Single Year Tables

Description of Proposed Provision:
C1.3: Starting for those age 62 in 2024, index the normal retirement age (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.

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
202314.5313.29-1.24
204
0.000.000.00
202414.8612.89-1.98
187
-0.00-0.000.00
202515.0312.97-2.06
168
-0.01-0.000.01
202615.2213.08-2.14
149
-0.01-0.000.01
202715.3613.09-2.27
132
-0.02-0.000.02
202815.5313.13-2.40
114
-0.02-0.000.02
202915.6913.16-2.53
96
-0.03-0.000.03
203015.8413.18-2.65
79
-0.03-0.000.03
203115.9613.21-2.75
61
-0.04-0.000.04
203216.0913.24-2.86
44
-0.05-0.000.05
203316.2013.25-2.95
26
-0.07-0.000.07
203416.3013.26-3.04
8
-0.08-0.000.08
203516.3813.26-3.12
----
-0.10-0.000.09
203616.4513.27-3.18
----
-0.11-0.000.10
203716.5113.28-3.24
----
-0.12-0.000.12
203816.5613.28-3.27
----
-0.14-0.010.13
203916.5913.29-3.30
----
-0.16-0.010.15
204016.6013.29-3.31
----
-0.18-0.010.17
204116.6013.29-3.31
----
-0.20-0.010.20
204216.5913.29-3.30
----
-0.23-0.010.22
204316.5813.29-3.29
----
-0.25-0.010.24
204416.5713.29-3.28
----
-0.27-0.010.26
204516.5713.30-3.27
----
-0.29-0.010.28
204616.5613.30-3.27
----
-0.32-0.010.31
204716.5613.30-3.26
----
-0.34-0.010.33
204816.5613.30-3.26
----
-0.37-0.020.35
204916.5613.30-3.26
----
-0.40-0.020.38
205016.5613.30-3.26
----
-0.43-0.020.41
205116.5613.30-3.26
----
-0.45-0.020.43
205216.5813.31-3.27
----
-0.48-0.020.46
205316.5913.31-3.28
----
-0.52-0.020.49
205416.6213.31-3.30
----
-0.55-0.030.52
205516.6513.31-3.33
----
-0.58-0.030.56
205616.6813.32-3.36
----
-0.62-0.030.59
205716.7213.32-3.39
----
-0.66-0.030.63
205816.7613.33-3.43
----
-0.70-0.030.66
205916.8113.33-3.48
----
-0.73-0.040.69
206016.8613.34-3.52
----
-0.76-0.040.72
206116.9013.34-3.56
----
-0.79-0.040.75
206216.9513.34-3.60
----
-0.81-0.040.77
206316.9813.35-3.63
----
-0.84-0.040.80
206417.0113.35-3.66
----
-0.87-0.040.83
206517.0413.35-3.69
----
-0.91-0.050.86
206617.0713.36-3.71
----
-0.94-0.050.89
206717.0913.36-3.73
----
-0.97-0.050.92
206817.1113.36-3.75
----
-1.00-0.050.95
206917.1413.37-3.77
----
-1.04-0.050.98
207017.1613.37-3.79
----
-1.07-0.051.01
207117.1813.37-3.81
----
-1.10-0.061.04
207217.2013.37-3.83
----
-1.13-0.061.07
207317.2213.38-3.85
----
-1.16-0.061.10
207417.2413.38-3.86
----
-1.19-0.061.13
207517.2513.38-3.87
----
-1.22-0.061.16
207617.2413.38-3.86
----
-1.25-0.061.18
207717.2313.38-3.85
----
-1.27-0.071.21
207817.2013.38-3.82
----
-1.30-0.071.23
207917.1613.38-3.79
----
-1.33-0.071.26
208017.1213.38-3.74
----
-1.35-0.071.28
208117.0513.37-3.68
----
-1.38-0.071.31
208216.9913.37-3.62
----
-1.40-0.071.33
208316.9213.37-3.55
----
-1.43-0.071.35
208416.8413.36-3.48
----
-1.45-0.081.37
208516.7613.36-3.41
----
-1.46-0.081.39
208616.6913.35-3.34
----
-1.47-0.081.39
208716.6113.35-3.26
----
-1.48-0.081.40
208816.5213.34-3.18
----
-1.50-0.081.42
208916.4313.34-3.09
----
-1.52-0.081.44
209016.3413.33-3.01
----
-1.55-0.081.47
209116.2713.33-2.94
----
-1.57-0.081.49
209216.2013.32-2.88
----
-1.60-0.081.52
209316.1313.32-2.81
----
-1.64-0.091.55
209416.0713.32-2.76
----
-1.68-0.091.59
209516.0213.31-2.71
----
-1.72-0.091.63
209615.9713.31-2.65
----
-1.78-0.091.69
209715.9313.31-2.62
----
-1.82-0.101.73
209815.9113.31-2.60
----
-1.86-0.101.76

Summarized Estimates

Proposal Change from Current Law
Years Cost
rate		 Income
rate		 Actuarial
balance		 Year of reserve
depletion1		 Cost
rate		 Income
rate		 Actuarial
balance
2023-2097 16.67% 13.74% -2.93% 2034 -0.71% -0.04% 0.68%

1 Under current law, the year of Trust Fund reserve depletion is 2034.
Based on Intermediate Assumptions of the 2023 Trustees Report.