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| Retirement Age | Description of Proposed Provision:      Increase the normal retirement age (NRA) from 66 to 67 one year earlier than current law, starting for those reaching age 62 in 2016 and ending for those reaching age 62 in 2021.  Then, after 2021, index the NRA to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20). |
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       Financial Estimates for the OASDI Trust Fund Program                Percentage of taxable payroll           Trust fund ratio as of January 1            OASDI taxable payroll(in billions of dollars)           Calendaryear           Costrate           Incomerate           Annualbalance           With thisprovision           Presentlaw           Percentageincrease200811.2012.771.573595,5675,5670.0200911.2612.811.543695,8595,8590.0201011.3712.821.463786,1556,1550.0201111.5312.841.313866,4496,4490.0201211.7612.871.113926,7466,7460.0201312.0312.900.873947,0557,0550.0201412.3212.920.603957,3737,3730.0201512.6212.940.323937,7017,7010.0201612.9112.960.053908,0398,0390.0201713.2212.98-0.243858,3918,3900.0201813.5113.00-0.503798,7608,7590.0201913.8013.02-0.783729,1439,1420.0202014.1013.04-1.053639,5409,5390.0202114.3913.06-1.323539,9539,9520.0202214.6613.08-1.5834210,38210,3810.0202314.9213.09-1.8233110,82810,8270.0202415.1613.11-2.0531811,29411,2930.0202515.3913.13-2.2730411,77911,7770.0202615.6213.14-2.4829012,28512,2840.0202715.8313.16-2.6727512,81112,8100.0202816.0213.17-2.8625913,36113,3600.0202916.2013.18-3.0224213,93913,9370.0203016.3413.19-3.1522514,54114,5390.0203116.4513.20-3.2520715,17515,1720.0203216.5413.21-3.3419015,83715,8330.0203316.6113.21-3.4017116,53316,5280.0203416.6613.22-3.4415317,26317,2570.0203516.6813.22-3.4613418,02418,0170.0203616.6813.22-3.4611618,81818,8100.0203716.6713.22-3.459719,64919,6400.0203816.6513.22-3.427820,51920,5090.0203916.6013.22-3.385821,43121,4200.1204016.5413.22-3.333922,38522,3730.1204116.4813.22-3.272023,38123,3680.1204216.4213.21-3.20124,42324,4080.1204316.3613.21-3.14----25,51025,4940.1204416.2913.21-3.08----26,64926,6300.1204516.2313.21-3.03----27,83227,8120.1204616.1813.20-2.98----29,06629,0430.1204716.1313.20-2.93----30,35130,3270.1204816.0813.20-2.88----31,69331,6660.1204916.0313.20-2.83----33,09233,0620.1205015.9913.20-2.79----34,54834,5140.1205115.9413.19-2.74----36,06536,0280.1205215.9013.19-2.70----37,65337,6120.1205315.8613.19-2.67----39,31139,2670.1205415.8413.19-2.65----41,04140,9930.1205515.8313.19-2.64----42,84542,7930.1205615.8313.19-2.64----44,72344,6660.1205715.8213.19-2.63----46,68646,6250.1205815.8213.19-2.63----48,73648,6700.1205915.8213.19-2.62----50,88050,8090.1206015.8113.19-2.62----53,11553,0390.1206115.8113.19-2.62----55,44455,3630.1206215.8113.19-2.61----57,88057,7940.1206315.8013.19-2.61----60,42460,3310.2206415.7913.19-2.60----63,08062,9810.2206515.7813.19-2.59----65,85265,7460.2206615.7613.19-2.57----68,74168,6260.2206715.7513.19-2.56----71,75771,6350.2206815.7613.19-2.57----74,90974,7780.2206915.7713.19-2.58----78,19078,0520.2207015.8013.19-2.61----81,60681,4600.2207115.8513.20-2.66----85,16685,0140.2207215.9013.20-2.70----88,89288,7340.2207315.9413.20-2.74----92,77792,6130.2207415.9913.20-2.78----96,82896,6560.2207516.0313.21-2.82----101,055100,8750.2207616.0713.21-2.86----105,456105,2680.2207716.1113.21-2.90----110,049109,8530.2207816.1513.21-2.94----114,830114,6250.2207916.2013.22-2.98----119,818119,6040.2208016.2413.22-3.02----125,022124,7940.2208116.2813.22-3.06----130,491130,2120.2208216.3213.22-3.09----136,173135,8620.2208316.3613.23-3.13----142,081141,7560.2208416.4013.23-3.18----148,251147,9120.2208516.4413.23-3.21----154,704154,3500.2Summarized RatesYearsCostrateIncomerateActuarialbalance         Change inactuarialbalance2008-208215.23%13.91%-1.32%0.38% Privacy Policy      | Website Policies        & Other Important Information      | Site Map     Last reviewed or modified August 11, 2008