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 in 2020-21 to 68 and 63, respectively, and then by 3 months per year in 2022-25 to 69 and 64, respectively.

			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	13.97	12.89	-1.08	292	0.00	0.00	0.00
2017	13.97	12.91	-1.06	277	0.00	0.00	0.00
2018	14.02	12.93	-1.08	262	0.00	0.00	0.00
2019	14.15	12.95	-1.20	248	0.00	0.00	0.00
2020	14.31	12.96	-1.35	233	-0.02	0.00	0.02
2021	14.42	12.99	-1.43	220	-0.08	0.01	0.09
2022	14.57	13.02	-1.55	206	-0.16	0.01	0.17
2023	14.75	13.04	-1.71	193	-0.26	0.01	0.27
2024	14.92	13.06	-1.86	179	-0.36	0.01	0.37
2025	15.08	13.08	-2.00	165	-0.46	0.01	0.48
2026	15.17	13.10	-2.08	152	-0.62	0.01	0.63
2027	15.29	13.11	-2.17	138	-0.74	0.01	0.75
2028	15.41	13.13	-2.29	125	-0.83	0.01	0.84
2029	15.54	13.14	-2.40	111	-0.90	0.01	0.91
2030	15.66	13.15	-2.51	96	-0.94	0.01	0.95
2031	15.80	13.16	-2.63	81	-0.95	0.01	0.96
2032	15.91	13.17	-2.74	66	-0.96	0.00	0.96
2033	15.99	13.18	-2.81	49	-0.96	0.00	0.97
2034	16.07	13.18	-2.89	33	-0.96	0.00	0.97
2035	16.12	13.19	-2.94	15	-0.97	0.00	0.97
2036	16.17	13.19	-2.98	----	-0.96	0.00	0.95
2037	16.19	13.19	-3.00	----	-0.95	0.00	0.95
2038	16.18	13.19	-2.99	----	-0.96	-0.01	0.95
2039	16.15	13.19	-2.96	----	-0.97	-0.01	0.96
2040	16.11	13.19	-2.92	----	-0.98	-0.01	0.97
2041	16.05	13.19	-2.86	----	-1.00	-0.01	0.99
2042	15.99	13.19	-2.81	----	-1.02	-0.01	1.01
2043	15.94	13.19	-2.76	----	-1.04	-0.01	1.03
2044	15.90	13.19	-2.72	----	-1.05	-0.01	1.04
2045	15.87	13.19	-2.69	----	-1.07	-0.01	1.06
2046	15.85	13.19	-2.66	----	-1.08	-0.01	1.07
2047	15.82	13.19	-2.64	----	-1.09	-0.01	1.08
2048	15.80	13.19	-2.61	----	-1.11	-0.01	1.09
2049	15.77	13.19	-2.58	----	-1.12	-0.01	1.11
2050	15.76	13.19	-2.57	----	-1.13	-0.01	1.12
2051	15.75	13.19	-2.56	----	-1.15	-0.01	1.13
2052	15.75	13.19	-2.56	----	-1.16	-0.01	1.15
2053	15.77	13.19	-2.57	----	-1.17	-0.01	1.16
2054	15.79	13.19	-2.60	----	-1.18	-0.02	1.16
2055	15.83	13.20	-2.63	----	-1.18	-0.02	1.17
2056	15.88	13.20	-2.68	----	-1.18	-0.02	1.17
2057	15.93	13.21	-2.72	----	-1.18	-0.02	1.17
2058	15.98	13.21	-2.77	----	-1.18	-0.02	1.17
2059	16.03	13.21	-2.81	----	-1.18	-0.02	1.17
2060	16.07	13.22	-2.86	----	-1.18	-0.02	1.17
2061	16.12	13.22	-2.90	----	-1.18	-0.02	1.17
2062	16.17	13.22	-2.95	----	-1.19	-0.02	1.17
2063	16.22	13.22	-2.99	----	-1.18	-0.02	1.17
2064	16.27	13.23	-3.04	----	-1.18	-0.02	1.16
2065	16.31	13.23	-3.08	----	-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	15.88%	13.88%	-1.99%	2035	-0.89%	-0.01%	0.89%

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 in 2020-21 to 68 and 63, respectively, and then by 3 months per year in 2022-25 to 69 and 64, respectively.

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 in 2020-21 to 68 and 63, respectively, and then by 3 months per year in 2022-25 to 69 and 64, respectively.