TABLE II.F9.--OPERATIONS OF THE DI TRUST FUND DURING
         SELECTED FISCAL YEARS 1960-94 AND ESTIMATED FUTURE OPERATIONS
              DURING FISCAL YEARS 1995-2004, ON THE BASIS OF THE
                      INTERMEDIATE SET OF ASSUMPTIONS
                               [In millions]
-------------------------------------------------------------------------------
                                               Income
                 --------------------------------------------------------------
                                                          Payments
                                               Income     from the
                                           from taxa- general fund
  Fiscal                     Net contri-      tion of       of the          Net
  year 1/             Total    butions2/     benefits   Treasury3/   interest4/
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Historical data:
  1960........       $1,034         $987           --           --          $47
  1965........        1,237        1,175           --           --           62
  1970........        4,380        4,141           --          $16          223
  1975........        7,920        7,356           --           52          512
  1980........       17,376       16,805           --          118          453
  1985........       17,984       16,876         $217           --          891

  1986........       20,130       18,139          229        1,017          746
  1987........       20,047       19,324       5/ -16           --          738
  1988........       22.369       21,736           56           --          577
  1989........       24,479       23,694          135           --          650
  1990........       28,215       27,291          158           --          766

  1991........       29,322       28,953          131         -775        1,014
  1992........       31,168       29,871          218           --        1,080
  1993........       32,056       30,822          268           --          966
  1994........       34,044       33,041          305           --          699
Estimates:
  1995........       70,585       68,363          335           --        1,887
  1996........       61,034       57,796          362          -41        2,917
  1997........       60,678       56,262          398           --        4,018
  1998........       62,643       57,376          438           --        4,828
  1999........       66,022       60,047          484           --        5,491

  2000........       72,355       65,730          534           --        6,090
  2001........       77,673       70,273          589           --        6,810
  2002........       82,196       74,053          650           --        7,493
  2003........       86,980       78,176          718           --        8,086
  2004........       91,963       82,606          794           --        8,563
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1/ Under the Congressional Budget Act of 1974 (Public Law 93-344), fiscal years
1977 and later consist of the 12 months ending on September 30 of each year.
Fiscal years prior to 1977 consisted of the 12 months ending on June 30 of each
year.
2/ Beginning in 1983, includes transfers from general fund of Treasury repre-
senting contributions that would have been paid on deemed wage credits for
military service in 1957 and later, if such credits were considered to be
covered wages.
3/ Includes payments (1) in 1967 and later, for costs of non-contributory
wage credits for military service performed before 1957; and (2) in 1972-83,
for costs of deemed wage credits for military service performed after 1956.
4/ Net interest includes net profits or losses on marketable investments.
Beginning in 1967, administrative expenses are charged currently to the trust
fund on an estimated basis, with a final adjustment, including interest, made
in the following fiscal year. The amounts of these interest adjustments are
included in net interest. For years prior to 1967, a description of the method
of accounting for administrative expenses is contained in the 1970 Annual
Report. Beginning in July 1974, the figures shown include relatively small
amounts of gifts to the fund. Net interest for 1983-86 reflects payments from
a borrowing trust fund to a lending trust fund for interest on amounts owed
under the interfund borrowing provisions. During 1983-91, interest paid from
the trust fund to the general fund on advance tax transfers is reflected. The
amount shown for 1985 includes an interest adjustment of $14.8 million on
unnegotiated checks issued before April 1985.
5/ Reflects $195 million in transfers from the DI Trust Fund to the general
fund of the Treasury to correct estimated amounts transferred for calendar
years 1984 and 1985.


             TABLE II.F9.--OPERATIONS OF THE DI TRUST FUND DURING
        SELECTED FISCAL YEARS 1960-94 AND ESTIMATED FUTURE OPERATIONS
              DURING FISCAL YEARS 1995-2004, ON THE BASIS OF THE
                   INTERMEDIATE SET OF ASSUMPTIONS (Cont.)
                               [In millions]
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                              Expenditures                       Assets
                ---------------------------------------  ----------------------
                                              Transfers
                                                     to          Net
                                    Adminis-   Railroad     increase     Amount
  Fiscal                  Benefit    trative Retirement       during  at end of
   year          Total payments6/   expenses    program         year     period
-------------------------------------------------------------------------------
Historical data:
  1960.....       $533       $528        $32       -$27         $501     $2,167
  1965.....      1,495      1,392         79         24         -257      2,007
  1970.....      2,954      2,795        149         10        1,426      5,104
  1975.....      7,982      7,701        253         29          -62      8,191
  1980.....     15,320     14,998        334        -12        2,056      7,680
  1985.....     19,294     18,648        603         43     7/ 1,230      5,873

  1986.....     20,196     19,529        600         68     7/ 2,475      8,348
  1987.....     21,222     20,427        738         57       -1,175      7,173
  1988.....     22,269     21,405        803         61          100      7,273
  1989.....     23,389     22,550        751         88        1,090      8,363
  1990.....     25,124     24,327        717         80        3,091     11,455

  1991.....     27,780     26,909        789         82        1,543     12,997
  1992.....     31,285     30,382        845         58         -116     12,881
  1993.....     34,632     33,615        935         83       -2,576     10,305
  1994.....     37,979     36,851      1,022        106       -3,935      6,370
Estimates:
  1995.....     41,713     40,596      1,070         47       28,872     35,242
  1996.....     45,465     44,225      1,216         24       15,568     50,811
  1997.....     49,164     47,885      1,247         32       11,514     62,325
  1998.....     53,030     51,714      1,256         60        9,613     71,938
  1999.....     57,384     55,995      1,312         76        8,638     80,576

  2000.....     62,051     60,579      1,385         87       10,303     90,880
  2001.....     67,024     65,469      1,467         88       10,649    101,528
  2002.....     72,426     70,769      1,555        101        9,771    111,299
  2003.....     78,353     76,585      1,651        116        8,628    119,927
  2004.....     84,997     83,111      1,755        131        6,966    126,893
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6/ Beginning in 1967, includes payments for vocational rehabilitation services
furnished to disabled persons receiving benefits because of their disabilities.
Beginning in 1983, amounts are reduced by amount of reimbursement for unnegoti-
ated benefit checks.
7/ Reflects repayment from the OASI Trust Fund of amounts borrowed from the
DI and HI Trust Funds in 1982. The amount repaid in 1985 was $2,540 million;
in 1986, the amount was $2,541 million.
Note: Totals do not necessarily equal the sums of rounded components.