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Detailed Single Year Tables

Description of Proposed Provision:
After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, index the 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. Also, increase the earliest eligibility age (EEA) by the same amount as the NRA starting for those age 62 in 2022 so as to maintain a 5 year difference between the two ages. Include a hardship exemption with no EEA/NRA change for a worker with 25 years of earnings (with 4 quarters of coverage each), and average indexed monthly earnings (AIME) less than 250% of the poverty level (wage-indexed from 2010). The hardship exemption is phased out for those with AIME above 400% of the poverty level.

 

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

Cost
rate
Income
rate
Annual
balance
201113.3512.52-0.82
353
0.000.000.00
201213.2312.87-0.36
347
0.000.000.00
201313.1812.87-0.31
341
0.000.000.00
201413.1812.92-0.27
334
0.000.000.00
201513.2412.94-0.30
328
0.000.000.00
201613.3312.97-0.36
321
0.000.000.00
201713.4613.00-0.46
314
0.000.000.00
201813.6213.03-0.59
306
0.000.000.00
201913.8813.04-0.84
296
0.000.000.00
202014.2013.06-1.14
284
0.000.000.00
202114.5213.08-1.44
272
0.000.000.00
202214.8313.10-1.73
259
0.000.000.00
202315.1213.12-2.00
245
-0.010.000.01
202415.3913.13-2.26
230
-0.010.000.01
202515.6513.15-2.50
215
-0.020.000.02
202615.9013.16-2.73
199
-0.030.000.03
202716.1113.18-2.93
182
-0.040.000.04
202816.3013.19-3.11
165
-0.050.000.05
202916.4613.20-3.26
147
-0.050.000.06
203016.5913.21-3.38
128
-0.060.000.07
203116.6913.22-3.46
109
-0.070.000.08
203216.7613.23-3.54
90
-0.090.000.09
203316.8213.24-3.59
70
-0.100.000.11
203416.8613.24-3.62
50
-0.120.000.12
203516.8813.24-3.63
29
-0.140.000.14
203616.8813.25-3.63
9
-0.150.000.16
203716.8713.25-3.62
----
-0.170.000.17
203816.8313.25-3.58
----
-0.190.000.19
203916.7813.25-3.53
----
-0.210.000.21
204016.7313.25-3.48
----
-0.230.000.23
204116.6713.25-3.42
----
-0.250.000.25
204216.6113.25-3.36
----
-0.270.000.27
204316.5513.25-3.31
----
-0.290.000.29
204416.5013.24-3.26
----
-0.310.000.31
204516.4513.24-3.21
----
-0.330.000.33
204616.4013.24-3.16
----
-0.360.000.36
204716.3613.24-3.11
----
-0.380.000.38
204816.3113.24-3.07
----
-0.410.000.40
204916.2713.24-3.03
----
-0.430.000.43
205016.2413.24-2.99
----
-0.450.000.45
205116.2113.24-2.97
----
-0.470.000.47
205216.1913.24-2.95
----
-0.490.000.49
205316.1813.24-2.93
----
-0.510.000.51
205416.1713.25-2.92
----
-0.530.000.53
205516.1713.25-2.92
----
-0.550.000.55
205616.1713.25-2.92
----
-0.570.000.57
205716.1713.25-2.92
----
-0.600.000.59
205816.1613.25-2.91
----
-0.620.000.61
205916.1513.25-2.90
----
-0.640.000.64
206016.1413.25-2.89
----
-0.660.000.66
206116.1313.26-2.87
----
-0.680.000.68
206216.1213.26-2.86
----
-0.710.000.70
206316.1113.26-2.85
----
-0.730.000.72
206416.1013.26-2.84
----
-0.75-0.010.75
206516.1013.26-2.84
----
-0.77-0.010.77
206616.1013.26-2.84
----
-0.79-0.010.79
206716.1013.26-2.84
----
-0.81-0.010.81
206816.1013.26-2.84
----
-0.84-0.010.83
206916.1113.27-2.85
----
-0.86-0.010.85
207016.1213.27-2.85
----
-0.88-0.010.87
207116.1313.27-2.86
----
-0.91-0.010.90
207216.1413.27-2.86
----
-0.93-0.010.92
207316.1513.28-2.88
----
-0.95-0.010.95
207416.1713.28-2.89
----
-0.97-0.010.97
207516.1913.28-2.91
----
-0.99-0.010.99
207616.2113.28-2.93
----
-1.00-0.011.00
207716.2313.28-2.95
----
-1.02-0.011.01
207816.2513.29-2.96
----
-1.04-0.011.03
207916.2613.29-2.97
----
-1.06-0.011.05
208016.2813.29-2.99
----
-1.08-0.011.08
208116.2913.30-2.99
----
-1.110.001.11
208216.3013.30-3.00
----
-1.140.001.14
208316.3113.30-3.01
----
-1.160.001.16
208416.3313.31-3.02
----
-1.190.001.19
208516.3413.31-3.03
----
-1.220.001.22
208616.3513.31-3.04
----
-1.250.001.24



 

Summarized Estimates

 
  Proposal
  Change from Present Law
Years Cost
rate
Income
rate
Actuarial
balance

Year of
exhaustion
1

Cost
rate
Income
rate
Actuarial
balance
 
Based on Intermediate Assumptions of the 2011 Trustees Report.
2011-2085 15.87% 14.02% -1.85%
2036
-0.37% -0.00% 0.37%
 
1 Under present law, the year of exhaustion is 2036.

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Last reviewed or modified December 21, 2011