Proposed Provision: After the normal retirement age (NRA) reaches age 67, index NRA to maintain a constant ratio of life expectancy at NRA to potential work years (NRA-20) and maintain the earliest eligibility age (EEA) at 5 years less than the normal retirement age in the future. Also, include a hardship exemption with no EEA/NRA change if a worker has 25 years of earnings of at least the level needed for 4 quarters of coverage, and average indexed monthly earnings (AIME) less than 250% of the individual aged Federal poverty level (wage-indexed from 2009). The hardship exemption is phased out for those with AIME above 400% of the poverty level.

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

  Income Rates Cost Rates
Year Present Law Provision Present Law Provision
201012.312.313.113.1
201112.912.913.013.0
201212.912.912.812.8
201312.912.912.812.8
201412.912.912.912.9
201512.912.913.013.0
201613.013.013.113.1
201713.013.013.313.3
201813.013.013.513.5
201913.013.013.813.8
202013.013.014.114.1
202113.113.114.514.5
202213.113.114.714.7
202313.113.115.015.0
202413.113.115.315.3
202513.113.115.515.5
202613.113.115.815.7
202713.213.216.015.9
202813.213.216.116.1
202913.213.216.316.2
203013.213.216.416.4
203113.213.216.516.4
203213.213.216.616.5
203313.213.216.716.6
203413.213.216.716.6
203513.213.216.716.6
203613.213.216.716.6
203713.213.216.716.6
203813.213.216.716.5
203913.213.216.716.5
204013.213.216.616.4
204113.213.216.616.4
204213.213.216.616.3
204313.213.216.516.3
204413.213.216.516.2
204513.213.216.416.1
204613.213.216.416.1
204713.213.216.416.1
204813.213.216.416.0
204913.213.216.416.0
205013.213.216.315.9
205113.213.216.315.9
205213.213.216.315.9
205313.213.216.315.9
205413.213.216.315.8
205513.213.216.415.8
205613.213.216.415.9
205713.213.216.415.9
205813.213.216.415.9
205913.213.216.515.9
206013.213.216.515.9
206113.213.216.515.9
206213.213.216.515.9
206313.213.216.615.9
206413.313.216.615.9
206513.313.316.615.9
206613.313.316.715.9
206713.313.316.715.9
206813.313.316.715.9
206913.313.316.816.0
207013.313.316.816.0
207113.313.316.816.0
207213.313.316.916.0
207313.313.316.916.0
207413.313.317.016.1
207513.313.317.016.1
207613.313.317.116.1
207713.313.317.116.1
207813.313.317.216.2
207913.313.317.216.2
208013.313.317.316.2
208113.313.317.316.2
208213.313.317.316.2
208313.313.317.416.2
208413.313.317.416.2
208513.313.317.516.2
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