Proposed Provision: C1.2. Increase the normal retirement age (NRA) 2 months per year for those age 62 starting in 2024 and ending in 2029 (NRA reaches 68 for those age 62 in 2029).

OASDI Cost Rates and Income Rates
(as a percentage of taxable payroll)

  Income Rates Cost Rates
Year Current Law Provision Current Law Provision
202313.313.314.514.5
202412.912.914.914.9
202513.013.015.015.0
202613.113.115.215.2
202713.113.115.415.3
202813.113.115.615.5
202913.213.215.715.6
203013.213.215.915.7
203113.213.216.015.9
203213.213.216.116.0
203313.213.216.316.0
203413.313.216.416.1
203513.313.316.516.2
203613.313.316.616.2
203713.313.316.616.3
203813.313.316.716.3
203913.313.316.716.3
204013.313.316.816.3
204113.313.316.816.4
204213.313.316.816.3
204313.313.316.816.3
204413.313.316.816.3
204513.313.316.916.3
204613.313.316.916.3
204713.313.316.916.3
204813.313.316.916.3
204913.313.317.016.4
205013.313.317.016.4
205113.313.317.016.4
205213.313.317.116.4
205313.313.317.116.5
205413.313.317.216.5
205513.313.317.216.5
205613.313.317.316.6
205713.413.317.416.7
205813.413.317.516.7
205913.413.317.516.8
206013.413.317.616.9
206113.413.317.717.0
206213.413.317.817.0
206313.413.417.817.1
206413.413.417.917.1
206513.413.417.917.2
206613.413.418.017.3
206713.413.418.117.3
206813.413.418.117.4
206913.413.418.217.4
207013.413.418.217.5
207113.413.418.317.5
207213.413.418.317.6
207313.413.418.417.6
207413.413.418.417.7
207513.413.418.517.7
207613.413.418.517.7
207713.413.418.517.7
207813.413.418.517.7
207913.413.418.517.7
208013.413.418.517.7
208113.413.418.417.7
208213.413.418.417.6
208313.413.418.317.6
208413.413.418.317.5
208513.413.418.217.5
208613.413.418.217.4
208713.413.418.117.4
208813.413.418.017.3
208913.413.418.017.2
209013.413.417.917.2
209113.413.417.817.1
209213.413.417.817.1
209313.413.417.817.1
209413.413.417.817.0
209513.413.417.717.0
209613.413.417.717.0
209713.413.417.817.0
209813.413.417.817.0
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