Detailed Single Year Tables

Category of Change: Retirement Age

Proposed Provision: Eliminate the hiatus in the normal retirement age (speed up the increase to age 67)
and then increase the NRA 2 months per year until the NRA reaches age 68

OASDI Taxable Payroll
Expressed as a percentage of taxable payroll

Year

Cost Rate

Income
Rate

Annual
Balance

Trust Fund
Ratio
1-1-year

2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
2057
2058
2059
2060
2061
2062
2063
2064
2065
2066
2067
2068
2069
2070
2071
2072
2073
2074
2075
2076
2077
2078
2079
2080

11.13
11.00
10.94
10.95
11.05
11.14
11.28
11.48
11.68
11.89
12.10
12.28
12.50
12.74
13.00
13.27
13.55
13.84
14.13
14.41
14.70
14.99
15.26
15.49
15.70
15.90
16.07
16.22
16.34
16.44
16.51
16.58
16.63
16.65
16.67
16.68
16.69
16.70
16.71
16.71
16.73
16.75
16.77
16.79
16.82
16.85
16.88
16.92
16.96
17.00
17.05
17.10
17.15
17.21
17.26
17.31
17.36
17.42
17.48
17.53
17.59
17.64
17.70
17.75
17.80
17.85
17.90
17.94
17.99
18.03
18.07
18.13
18.18
18.22
18.27
18.29

12.72
12.73
12.74
12.78
12.77
12.79
12.84
12.86
12.89
12.90
12.92
12.93
12.94
12.96
12.97
12.99
13.01
13.03
13.04
13.06
13.08
13.09
13.11
13.13
13.14
13.15
13.16
13.17
13.18
13.19
13.20
13.20
13.21
13.21
13.21
13.21
13.22
13.22
13.22
13.22
13.22
13.23
13.23
13.23
13.23
13.23
13.24
13.24
13.24
13.25
13.25
13.25
13.26
13.26
13.26
13.27
13.27
13.27
13.28
13.28
13.28
13.29
13.29
13.30
13.30
13.30
13.30
13.31
13.31
13.31
13.31
13.32
13.32
13.32
13.33
13.33

1.59
1.73
1.81
1.83
1.72
1.65
1.56
1.39
1.21
1.01
0.82
0.65
0.44
0.22
-0.02
-0.28
-0.55
-0.81
-1.08
-1.35
-1.62
-1.90
-2.15
-2.37
-2.56
-2.74
-2.91
-3.05
-3.16
-3.24
-3.32
-3.38
-3.42
-3.44
-3.45
-3.46
-3.47
-3.48
-3.49
-3.49
-3.51
-3.52
-3.54
-3.56
-3.59
-3.61
-3.64
-3.68
-3.72
-3.76
-3.80
-3.85
-3.90
-3.95
-3.99
-4.04
-4.09
-4.14
-4.20
-4.25
-4.30
-4.36
-4.41
-4.46
-4.50
-4.55
-4.59
-4.64
-4.68
-4.72
-4.76
-4.81
-4.86
-4.90
-4.94
-4.96

320
337
355
372
386
399
411
420
428
435
440
444
447
448
447
444
439
433
425
416
405
393
380
367
353
338
323
308
292
276
259
242
225
208
191
173
155
137
118
100
80
61
41
21
-------------------------------------------------------------------------------------------------

(in billions of dollars)

Proposed
Plan
4,730
4,985
5,244
5,512
5,785
6,068
6,358
6,650
6,952
7,265
7,592
7,930
8,280
8,643
9,020
9,407
9,809
10,224
10,655
11,100
11,560
12,038
12,542
13,068
13,614
14,181
14,775
15,398
16,051
16,731
17,436
18,172
18,942
19,747
20,589
21,463
22,375
23,325
24,316
25,346
26,412
27,519
28,672
29,872
31,117
32,408
33,754
35,157
36,617
38,141
39,724
41,368
43,082
44,865
46,720
48,652
50,659
52,755
54,941
57,216
59,582
62,031
64,580
67,256
70,045
72,945
75,962
79,099
82,369
85,775
89,314
92,997
96,829
100,817
104,969
109,291

Present
Law
4,730
4,985
5,244
5,511
5,784
6,065
6,354
6,646
6,946
7,258
7,583
7,919
8,268
8,630
9,005
9,391
9,794
10,209
10,640
11,085
11,545
12,024
12,527
13,054
13,599
14,166
14,758
15,381
16,033
16,714
17,418
18,153
18,923
19,728
20,569
21,442
22,353
23,302
24,292
25,321
26,386
27,491
28,642
29,842
31,085
32,374
33,719
35,120
36,579
38,101
39,682
41,324
43,036
44,817
46,670
48,600
50,605
52,699
54,883
57,155
59,520
61,964
64,511
67,183
69,970
72,868
75,881
79,015
82,282
85,685
89,221
92,900
96,727
100,711
104,859
109,174

Increase in
Taxable
Payroll over
Present Law
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.2%
0.2%
0.2%
0.2%
0.2%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%
0.1%

Summarized Rates: OASDI
2005
-2079

Cost Rate
15.13%

Income Rate
13.83%

Change in
Actuarial
Balance Actuarial Balance
-1.30%
0.62%

Estimates based on Intermediate Assumptions of the 2005 Trustees Report

Office of the Chief Actuary, Social Security
January 4, 2006