Proposed Provision: Increase the normal retirement age (NRA) 3 months per year starting in 2017 until reaching 70 for those attaining age 62 in 2032. Then increase the NRA 1 month every 2 years thereafter. Note that the NRA would increase from 66 to 67 faster than under current law. Increase the earliest eligibility age (EEA) from 62 to 64 at the same time the NRA would increase from 67 to 69; that is, for those attaining age 62 in 2021 through 2028. Keep EEA at 64 thereafter. Keep years in which delayed retirement credits can be earned at 4 years after attaining NRA.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2010355355
2011353353
2012350350
2013346346
2014341341
2015335335
2016330330
2017324324
2018317318
2019309311
2020299302
2021289293
2022277283
2023264271
2024251259
2025237246
2026221234
2027205221
2028189208
2029171195
2030154181
2031136168
2032117156
203398143
203479130
203559117
203639105
20371993
2038-181
2039-2170
2040-4258
2041-6347
2042-8436
2043-10526
2044-12615
2045-1475
2046-168-5
2047-189-15
2048-211-24
2049-233-34
2050-255-43
2051-277-52
2052-299-61
2053-321-70
2054-344-78
2055-366-86
2056-389-94
2057-412-102
2058-436-109
2059-460-117
2060-485-124
2061-509-131
2062-534-138
2063-560-146
2064-586-154
2065-612-162
2066-638-169
2067-665-178
2068-692-186
2069-720-195
2070-748-203
2071-776-213
2072-805-222
2073-834-232
2074-864-241
2075-894-252
2076-925-262
2077-957-273
2078-989-284
2079-1021-296
2080-1054-308
2081-1087-320
2082-1121-332
2083-1156-344
2084-1191-356
2085-1227-368
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