Year Cost Rate

Income 

Rate

Annual 

Balance

Proposed 

Plan

Present 

Law

2008 11.20 12.77 1.57 359 5,567 5,567 0.0%

2009 11.26 12.81 1.54 369 5,859 5,859 0.0%

2010 11.36 12.82 1.46 379 6,155 6,155 0.0%

2011 11.52 12.84 1.32 387 6,450 6,449 0.0%

2012 11.75 12.87 1.12 392 6,747 6,746 0.0%

2013 12.03 12.90 0.87 394 7,056 7,055 0.0%

2014 12.31 12.92 0.60 395 7,375 7,373 0.0%

2015 12.61 12.94 0.33 393 7,704 7,701 0.0%

2016 12.92 12.96 0.05 390 8,043 8,039 0.1%

2017 13.19 12.98 -0.21 386 8,395 8,390 0.1%

2018 13.43 13.00 -0.43 382 8,766 8,759 0.1%

2019 13.66 13.02 -0.64 376 9,154 9,142 0.1%

2020 13.88 13.03 -0.85 370 9,559 9,539 0.2%

2021 14.01 13.04 -0.97 365 9,984 9,952 0.3%

2022 14.18 13.05 -1.12 358 10,423 10,381 0.4%

2023 14.38 13.07 -1.31 350 10,879 10,827 0.5%

2024 14.61 13.08 -1.52 340 11,353 11,293 0.5%

2025 14.86 13.10 -1.76 329 11,844 11,777 0.6%

2026 15.14 13.12 -2.03 316 12,353 12,284 0.6%

2027 15.42 13.13 -2.28 302 12,883 12,810 0.6%

2028 15.67 13.15 -2.52 287 13,436 13,360 0.6%

2029 15.90 13.16 -2.74 271 14,016 13,937 0.6%

2030 16.11 13.18 -2.93 254 14,621 14,539 0.6%

2031 16.29 13.19 -3.10 237 15,256 15,172 0.6%

2032 16.45 13.20 -3.25 219 15,920 15,833 0.5%

2033 16.58 13.21 -3.37 201 16,617 16,528 0.5%

2034 16.68 13.22 -3.46 183 17,349 17,257 0.5%

2035 16.76 13.22 -3.53 164 18,111 18,017 0.5%

2036 16.83 13.23 -3.60 144 18,907 18,810 0.5%

2037 16.88 13.23 -3.65 125 19,739 19,640 0.5%

2038 16.90 13.24 -3.67 105 20,611 20,509 0.5%

2039 16.90 13.24 -3.67 85 21,526 21,420 0.5%

2040 16.89 13.24 -3.65 65 22,483 22,373 0.5%

2041 16.86 13.24 -3.62 44 23,483 23,368 0.5%

2042 16.82 13.24 -3.59 23 24,528 24,408 0.5%

2043 16.80 13.24 -3.56 3 25,620 25,494 0.5%

2044 16.77 13.24 -3.53 ---- 26,762 26,630 0.5%

2045 16.75 13.24 -3.51 ---- 27,951 27,812 0.5%

2046 16.75 13.24 -3.51 ---- 29,190 29,043 0.5%

2047 16.74 13.24 -3.50 ---- 30,481 30,327 0.5%

2048 16.73 13.24 -3.49 ---- 31,828 31,666 0.5%

2049 16.73 13.24 -3.49 ---- 33,231 33,062 0.5%

2050 16.72 13.24 -3.48 ---- 34,693 34,514 0.5%

2051 16.72 13.24 -3.48 ---- 36,214 36,028 0.5%

2052 16.72 13.24 -3.48 ---- 37,807 37,612 0.5%

2053 16.73 13.24 -3.49 ---- 39,471 39,267 0.5%

2054 16.75 13.24 -3.51 ---- 41,206 40,993 0.5%

2055 16.78 13.25 -3.54 ---- 43,017 42,793 0.5%

2056 16.83 13.25 -3.58 ---- 44,902 44,666 0.5%

2057 16.86 13.25 -3.61 ---- 46,872 46,625 0.5%

2058 16.90 13.25 -3.64 ---- 48,928 48,670 0.5%

2059 16.93 13.26 -3.67 ---- 51,078 50,809 0.5%

2060 16.95 13.26 -3.69 ---- 53,319 53,039 0.5%

2061 16.96 13.26 -3.71 ---- 55,651 55,363 0.5%

2062 16.98 13.26 -3.72 ---- 58,091 57,794 0.5%

2063 17.01 13.26 -3.74 ---- 60,640 60,331 0.5%

2064 17.03 13.26 -3.77 ---- 63,304 62,981 0.5%

2065 17.06 13.27 -3.80 ---- 66,083 65,746 0.5%

Detailed Single Year Tables

Category of Change: Retirement Age

Proposed Provision: Gradually raise the earliest eligibility age (EEA) for Social Security retirement 

benefits from 62 to 65. The EEA would be increased by 2 months for individuals reaching age 62 in 

every year, starting in 2010. The EEA of 65 would apply for those reaching age 62 in 2027 and later 

(those reaching age 65 in 2030 and later). As under current law, the PIA formula applicable for any 

individual would depend on the year in which eligibility age is attained. It should be noted that the 

elimination of retirement eligibility between ages 62 and 65 would increase the number of individuals 

who would apply for disabled worker benefits at those ages.

OASDI Taxable Payroll 

(in billions of dollars)

Increase in 

Taxable 

Payroll over 

Present Law

Expressed as a percentage of taxable payrol Trust Fund 

Ratio 

1-1-year
2066 17.10 13.27 -3.83 ---- 68,985 68,626 0.5%

2067 17.14 13.27 -3.87 ---- 72,013 71,635 0.5%

2068 17.18 13.27 -3.90 ---- 75,175 74,778 0.5%

2069 17.22 13.28 -3.94 ---- 78,467 78,052 0.5%

2070 17.26 13.28 -3.98 ---- 81,892 81,460 0.5%

2071 17.30 13.28 -4.02 ---- 85,461 85,014 0.5%

2072 17.34 13.28 -4.06 ---- 89,197 88,734 0.5%

2073 17.38 13.29 -4.10 ---- 93,094 92,613 0.5%

2074 17.43 13.29 -4.14 ---- 97,157 96,656 0.5%

2075 17.47 13.29 -4.18 ---- 101,397 100,875 0.5%

2076 17.51 13.29 -4.22 ---- 105,814 105,268 0.5%

2077 17.56 13.30 -4.26 ---- 110,422 109,853 0.5%

2078 17.60 13.30 -4.30 ---- 115,219 114,625 0.5%

2079 17.65 13.30 -4.35 ---- 120,224 119,604 0.5%

2080 17.70 13.31 -4.39 ---- 125,450 124,794 0.5%

2081 17.75 13.31 -4.44 ---- 130,897 130,212 0.5%

2082 17.79 13.31 -4.48 ---- 136,576 135,862 0.5%

2083 17.84 13.31 -4.53 ---- 142,501 141,756 0.5%

2084 17.89 13.32 -4.57 ---- 148,690 147,912 0.5%

2085 17.93 13.32 -4.61 ---- 155,162 154,350 0.5%

Summarized Rates: OASDI

2008 Cost Rate Income Rate

Actuarial 

Balance

-2082 15.64% 13.93% -1.70% -0.01%

Office of the Chief Actuary, Social Security

Estimates based on Intermediate Assumptions of the 2008 Trustees Report

Change in 

Actuarial Balance

July 17, 2008