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 11.37 12.82 1.46 378 6,155 6,155 0.0%

2011 11.53 12.84 1.31 386 6,449 6,449 0.0%

2012 11.76 12.87 1.11 392 6,746 6,746 0.0%

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

2014 12.32 12.92 0.60 395 7,373 7,373 0.0%

2015 12.62 12.94 0.32 393 7,701 7,701 0.0%

2016 12.91 12.96 0.05 390 8,039 8,039 0.0%

2017 13.22 12.98 -0.24 385 8,391 8,390 0.0%

2018 13.51 13.00 -0.50 379 8,760 8,759 0.0%

2019 13.80 13.02 -0.78 372 9,143 9,142 0.0%

2020 14.10 13.04 -1.05 363 9,540 9,539 0.0%

2021 14.39 13.06 -1.32 353 9,953 9,952 0.0%

2022 14.66 13.08 -1.58 342 10,382 10,381 0.0%

2023 14.92 13.09 -1.82 331 10,828 10,827 0.0%

2024 15.16 13.11 -2.05 318 11,294 11,293 0.0%

2025 15.39 13.13 -2.27 304 11,779 11,777 0.0%

2026 15.62 13.14 -2.48 290 12,285 12,284 0.0%

2027 15.83 13.16 -2.67 275 12,811 12,810 0.0%

2028 16.02 13.17 -2.86 259 13,361 13,360 0.0%

2029 16.20 13.18 -3.02 242 13,939 13,937 0.0%

2030 16.34 13.19 -3.15 225 14,541 14,539 0.0%

2031 16.45 13.20 -3.25 207 15,175 15,172 0.0%

2032 16.54 13.21 -3.34 190 15,837 15,833 0.0%

2033 16.61 13.21 -3.40 171 16,533 16,528 0.0%

2034 16.66 13.22 -3.44 153 17,263 17,257 0.0%

2035 16.68 13.22 -3.46 134 18,024 18,017 0.0%

2036 16.68 13.22 -3.46 116 18,818 18,810 0.0%

2037 16.67 13.22 -3.45 97 19,649 19,640 0.0%

2038 16.65 13.22 -3.42 78 20,519 20,509 0.0%

2039 16.60 13.22 -3.38 58 21,431 21,420 0.1%

2040 16.54 13.22 -3.33 39 22,385 22,373 0.1%

2041 16.48 13.22 -3.27 20 23,381 23,368 0.1%

2042 16.42 13.21 -3.20 1 24,423 24,408 0.1%

2043 16.36 13.21 -3.14 ---- 25,510 25,494 0.1%

2044 16.29 13.21 -3.08 ---- 26,649 26,630 0.1%

2045 16.23 13.21 -3.03 ---- 27,832 27,812 0.1%

2046 16.18 13.20 -2.98 ---- 29,066 29,043 0.1%

2047 16.13 13.20 -2.93 ---- 30,351 30,327 0.1%

2048 16.08 13.20 -2.88 ---- 31,693 31,666 0.1%

2049 16.03 13.20 -2.83 ---- 33,092 33,062 0.1%

2050 15.99 13.20 -2.79 ---- 34,548 34,514 0.1%

2051 15.94 13.19 -2.74 ---- 36,065 36,028 0.1%

2052 15.90 13.19 -2.70 ---- 37,653 37,612 0.1%

2053 15.86 13.19 -2.67 ---- 39,311 39,267 0.1%

2054 15.84 13.19 -2.65 ---- 41,041 40,993 0.1%

2055 15.83 13.19 -2.64 ---- 42,845 42,793 0.1%

2056 15.83 13.19 -2.64 ---- 44,723 44,666 0.1%

2057 15.82 13.19 -2.63 ---- 46,686 46,625 0.1%

2058 15.82 13.19 -2.63 ---- 48,736 48,670 0.1%

2059 15.82 13.19 -2.62 ---- 50,880 50,809 0.1%

2060 15.81 13.19 -2.62 ---- 53,115 53,039 0.1%

2061 15.81 13.19 -2.62 ---- 55,444 55,363 0.1%

2062 15.81 13.19 -2.61 ---- 57,880 57,794 0.1%

2063 15.80 13.19 -2.61 ---- 60,424 60,331 0.2%

2064 15.79 13.19 -2.60 ---- 63,080 62,981 0.2%

2065 15.78 13.19 -2.59 ---- 65,852 65,746 0.2%

Detailed Single Year Tables

Category of Change: Retirement Age

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).

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 15.76 13.19 -2.57 ---- 68,741 68,626 0.2%

2067 15.75 13.19 -2.56 ---- 71,757 71,635 0.2%

2068 15.76 13.19 -2.57 ---- 74,909 74,778 0.2%

2069 15.77 13.19 -2.58 ---- 78,190 78,052 0.2%

2070 15.80 13.19 -2.61 ---- 81,606 81,460 0.2%

2071 15.85 13.20 -2.66 ---- 85,166 85,014 0.2%

2072 15.90 13.20 -2.70 ---- 88,892 88,734 0.2%

2073 15.94 13.20 -2.74 ---- 92,777 92,613 0.2%

2074 15.99 13.20 -2.78 ---- 96,828 96,656 0.2%

2075 16.03 13.21 -2.82 ---- 101,055 100,875 0.2%

2076 16.07 13.21 -2.86 ---- 105,456 105,268 0.2%

2077 16.11 13.21 -2.90 ---- 110,049 109,853 0.2%

2078 16.15 13.21 -2.94 ---- 114,830 114,625 0.2%

2079 16.20 13.22 -2.98 ---- 119,818 119,604 0.2%

2080 16.24 13.22 -3.02 ---- 125,022 124,794 0.2%

2081 16.28 13.22 -3.06 ---- 130,491 130,212 0.2%

2082 16.32 13.22 -3.09 ---- 136,173 135,862 0.2%

2083 16.36 13.23 -3.13 ---- 142,081 141,756 0.2%

2084 16.40 13.23 -3.18 ---- 148,251 147,912 0.2%

2085 16.44 13.23 -3.21 ---- 154,704 154,350 0.2%

Summarized Rates: OASDI

2008 Cost Rate Income Rate

Actuarial 

Balance

-2082 15.23% 13.91% -1.32% 0.38%

Office of the Chief Actuary, Social Security

Estimates based on Intermediate Assumptions of the 2008 Trustees Report

Change in 

Actuarial Balance

July 17, 2008