Detailed Single Year Tables

Retirement Age	Description of Proposed Provision: Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 starting in 2016 by 3 months per year until EEA reaches 64 in 2023 and NRA reaches 69 in 2027.

			Financial Estimates for the OASDI Trust Fund Program

	Proposal				Change from Present Law
	Expressed as a percentage of present-law taxable payroll			Trust fund ratio as of January 1	Expressed as a percentage of present-law taxable payroll
Calendar year	Cost rate	Income rate	Annual balance	Trust fund ratio as of January 1	Cost rate	Income rate	Annual balance
2014	13.95	12.67	-1.29	320	0.00	0.00	0.00
2015	13.97	12.92	-1.05	306	0.00	0.00	0.00
2016	13.96	12.89	-1.07	292	0.00	0.00	0.01
2017	13.95	12.92	-1.04	278	-0.02	0.01	0.03
2018	13.97	12.94	-1.03	264	-0.05	0.01	0.06
2019	14.07	12.96	-1.11	250	-0.08	0.01	0.09
2020	14.21	12.97	-1.23	236	-0.12	0.01	0.14
2021	14.32	13.00	-1.32	223	-0.18	0.02	0.20
2022	14.50	13.03	-1.47	210	-0.24	0.02	0.25
2023	14.71	13.05	-1.66	196	-0.30	0.02	0.31
2024	14.92	13.07	-1.85	182	-0.35	0.02	0.37
2025	15.13	13.09	-2.04	168	-0.41	0.02	0.43
2026	15.33	13.11	-2.22	153	-0.46	0.02	0.48
2027	15.51	13.12	-2.39	138	-0.52	0.02	0.54
2028	15.67	13.14	-2.53	123	-0.58	0.02	0.59
2029	15.80	13.15	-2.65	108	-0.64	0.02	0.65
2030	15.91	13.16	-2.75	93	-0.70	0.01	0.71
2031	15.99	13.17	-2.83	76	-0.75	0.01	0.76
2032	16.07	13.18	-2.89	60	-0.80	0.01	0.81
2033	16.12	13.18	-2.94	43	-0.83	0.01	0.84
2034	16.18	13.19	-2.99	25	-0.86	0.01	0.86
2035	16.22	13.19	-3.03	8	-0.87	0.00	0.88
2036	16.26	13.19	-3.06	----	-0.87	0.00	0.87
2037	16.27	13.20	-3.08	----	-0.87	0.00	0.87
2038	16.26	13.20	-3.07	----	-0.88	0.00	0.88
2039	16.23	13.20	-3.03	----	-0.89	0.00	0.89
2040	16.18	13.19	-2.99	----	-0.90	0.00	0.90
2041	16.12	13.19	-2.93	----	-0.93	0.00	0.92
2042	16.06	13.19	-2.87	----	-0.95	-0.01	0.94
2043	16.01	13.19	-2.82	----	-0.97	-0.01	0.96
2044	15.97	13.19	-2.78	----	-0.99	-0.01	0.98
2045	15.93	13.19	-2.74	----	-1.01	-0.01	1.00
2046	15.90	13.19	-2.71	----	-1.02	-0.01	1.02
2047	15.88	13.19	-2.69	----	-1.04	-0.01	1.03
2048	15.85	13.19	-2.66	----	-1.06	-0.01	1.05
2049	15.82	13.19	-2.63	----	-1.08	-0.01	1.06
2050	15.80	13.19	-2.61	----	-1.09	-0.01	1.08
2051	15.78	13.19	-2.59	----	-1.12	-0.01	1.10
2052	15.78	13.19	-2.59	----	-1.13	-0.01	1.12
2053	15.79	13.19	-2.60	----	-1.15	-0.01	1.13
2054	15.81	13.20	-2.62	----	-1.16	-0.01	1.14
2055	15.85	13.20	-2.65	----	-1.17	-0.01	1.15
2056	15.89	13.20	-2.69	----	-1.17	-0.01	1.16
2057	15.94	13.21	-2.73	----	-1.18	-0.01	1.16
2058	15.98	13.21	-2.77	----	-1.18	-0.01	1.16
2059	16.03	13.21	-2.82	----	-1.18	-0.01	1.16
2060	16.08	13.22	-2.86	----	-1.18	-0.02	1.17
2061	16.12	13.22	-2.91	----	-1.18	-0.02	1.17
2062	16.17	13.22	-2.95	----	-1.18	-0.02	1.17
2063	16.22	13.22	-3.00	----	-1.18	-0.02	1.16
2064	16.27	13.23	-3.04	----	-1.18	-0.02	1.16
2065	16.31	13.23	-3.09	----	-1.18	-0.02	1.17
2066	16.36	13.23	-3.13	----	-1.19	-0.02	1.17
2067	16.40	13.23	-3.17	----	-1.19	-0.02	1.18
2068	16.45	13.24	-3.21	----	-1.20	-0.02	1.18
2069	16.50	13.24	-3.25	----	-1.20	-0.02	1.18
2070	16.54	13.24	-3.30	----	-1.20	-0.02	1.18
2071	16.59	13.25	-3.34	----	-1.19	-0.02	1.18
2072	16.62	13.25	-3.37	----	-1.20	-0.02	1.18
2073	16.65	13.25	-3.40	----	-1.20	-0.02	1.18
2074	16.67	13.25	-3.41	----	-1.20	-0.02	1.18
2075	16.68	13.25	-3.42	----	-1.21	-0.02	1.19
2076	16.68	13.25	-3.42	----	-1.21	-0.02	1.19
2077	16.67	13.25	-3.42	----	-1.22	-0.02	1.20
2078	16.67	13.25	-3.42	----	-1.22	-0.02	1.20
2079	16.67	13.25	-3.42	----	-1.22	-0.02	1.20
2080	16.67	13.25	-3.42	----	-1.23	-0.02	1.21
2081	16.68	13.25	-3.42	----	-1.24	-0.02	1.22
2082	16.69	13.25	-3.43	----	-1.25	-0.02	1.23
2083	16.71	13.25	-3.45	----	-1.26	-0.02	1.23
2084	16.74	13.26	-3.48	----	-1.26	-0.02	1.24
2085	16.77	13.26	-3.51	----	-1.27	-0.02	1.25
2086	16.81	13.26	-3.55	----	-1.27	-0.02	1.25
2087	16.86	13.27	-3.59	----	-1.28	-0.02	1.26
2088	16.91	13.27	-3.64	----	-1.28	-0.02	1.26
2089	16.96	13.27	-3.68	----	-1.29	-0.02	1.27

				Summarized Estimates

	Proposal				Change from Present Law
Years	Cost rate	Income rate	Actuarial balance	Year of reserve depletion¹	Cost rate	Income rate	Actuarial balance

Based on Intermediate Assumptions of the 2014 Trustees Report.
2014-2088	15.92%	13.88%	-2.03%	2035	-0.85%	-0.00%	0.85%

¹ Under present law, the year of Trust Fund reserve depletion is 2033.


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Detailed Single Year Tables

Description of Proposed Provision: Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 starting in 2016 by 3 months per year until EEA reaches 64 in 2023 and NRA reaches 69 in 2027.

Financial Estimates for the OASDI Trust Fund Program

Summarized Estimates

Description of Proposed Provision:
Increase the normal retirement age (NRA) and the earliest eligibility age (EEA) for those age 62 starting in 2016 by 3 months per year until EEA reaches 64 in 2023 and NRA reaches 69 in 2027.