2012 OASDI Trustees Report

Tables

II. OVERVIEW

II.B1 Summary of 2011 Trust Fund Financial Operations

II.B2 Payroll Tax Contribution Rates for 2011

II.C1 Long-Range Values of Key Demographic and Economic Assumptions for the 75-year Projection Period

II.D1 Projected Maximum Trust Fund Ratios During the Long-Range Period and Trust Fund Exhaustion Dates

II.D2 Reasons for Change in the 75-Year Actuarial Balance,Based on Intermediate Assumptions

III. FINANCIAL OPERATIONS OF THE TRUST FUNDS ANDLEGISLATIVE CHANGES IN THE LAST YEAR

III.A1 Operations of the OASI Trust Fund, Calendar Year 2011

III.A2 Operations of the DI Trust Fund, Calendar Year 2011

III.A3 Operations of the Combined OASI and DI Trust Funds, Calendar Year 2011

III.A4 Comparison of Actual Calendar Year 2011 Trust Fund OperationsWith Estimates Made in Prior Reports, Based on Intermediate Assumptions

III.A5 Distribution of Benefit Payments by Type of Beneficiary or Payment, Calendar Years 2010 and 2011

III.A6 Administrative Expenses as a Percentage of Non-interest Income and of Total Expenditures, Calendar Years 2007-11

III.A7 Trust Fund Investment Transactions, Calendar Year 2011

IV. ACTUARIAL ESTIMATES

IV.A1 Operations of the OASI Trust Fund, Calendar Years 2007-21

IV.A2 Operations of the DI Trust Fund, Calendar Years 2007-21

IV.A3 Operations of the Combined OASI and DI Trust Funds,Calendar Years 2007-21

IV.A4 Reasons for Change in Trust Fund Ratios at the Beginning of the Tenth Year of Projection

IV.B1 Annual Income Rates, Cost Rates, and Balances,Calendar Years 1990-2090

IV.B2 Covered Workers and Beneficiaries, Calendar Years 1945-2090

IV.B3 Trust Fund Ratios, Calendar Years 2012-90

IV.B4 Components of Summarized Income Rates and Cost Rates, Calendar Years 2012-86

IV.B5 Components of 75-Year Actuarial BalanceUnder Intermediate Assumptions

IV.B6 Unfunded OASDI Obligations Through the Infinite Horizon,Based on Intermediate Assumptions

IV.B7 Present Values of OASDI Cost Less Non-interest Incomeand Unfunded Obligations for Program Participants,Based on Intermediate Assumptions

IV.B8 Comparison of Actuarial Balance Ratios With the Allowable Threshold in the Test of Long-Range Close Actuarial Balance

IV.B9 Reasons for Change in the 75-Year Actuarial Balance,Based on Intermediate Assumptions

V. ASSUMPTIONS AND METHODS UNDERLYINGACTUARIAL ESTIMATES

V.A1 Principal Demographic Assumptions, Calendar Years 1940-2090

V.A2 Social Security Area Population as of July 1 and Dependency Ratios, Calendar Years 1950-2090

V.A3 Period Life Expectancy

V.A4 Cohort Life Expectancy

V.B1 Principal Economic Assumptions

V.B2 Additional Economic Factors

V.C1 Cost-of-Living Benefit Increases, Average Wage Index, Contribution and Benefit Bases, and Retirement Earnings Test Exempt Amounts, 1975-2021

V.C2 Values for Selected Wage-Indexed Program Parameters, Calendar Years 1978-2021

V.C3 Legislated Changes in Normal Retirement Age and Delayed Retirement Credits for Persons Reaching Age 62 in Each Year 1986 and Later

V.C4 OASI Beneficiaries With Benefits in Current-Payment Statusat the End of Calendar Years 1945-2090

V.C5 DI Beneficiaries With Benefits in Current-Payment Statusat the End of Calendar Years 1960-2090 />

V.C6 Contribution and Benefit Base and Payroll Tax Contribution Rates />

V.C7 Annual Scheduled Benefit Amounts for Retired WorkersWith Various Pre-Retirement Earnings PatternsBased on Intermediate Assumptions, Calendar Years 2012-90

VI. APPENDICES

A. HISTORY OF OASI AND DI TRUST FUND OPERATIONS

VI.A1 Operations of the OASI Trust Fund, Calendar Years 1937-2011 />

VI.A2 Operations of the DI Trust Fund, Calendar Years 1957-2011

VI.A3 Operations of the Combined OASI and DI Trust Funds,Calendar Years 1957-2011 />

VI.A4 Assets of the OASI Trust Fund, End of Calendar Years 2010 and 2011

VI.A5 Assets of the DI Trust Fund, End of Calendar Years 2010 and 2011 />

B. HISTORY OF ACTUARIAL STATUS ESTIMATES

VI.B1 Long-Range OASDI Actuarial Balances and Trust Fund Exhaustion Dates as Shown in the Trustees Reports for 1982-2012

C. FISCAL YEAR HISTORICAL DATA ANDPROJECTIONS THROUGH 2021

VI.C1 Operations of the OASI Trust Fund, Fiscal Year 2011

VI.C2 Operations of the DI Trust Fund, Fiscal Year 2011

VI.C3 Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2011 />

VI.C4 Operations of the OASI Trust Fund, Fiscal Years 2007-21

VI.C5 Operations of the DI Trust Fund, Fiscal Years 2007-21

VI.C6 Operations of the Combined OASI and DI Trust Funds,Fiscal Years 2007-21 />

D. LONG-RANGE SENSITIVITY ANALYSIS

VI.D1 Sensitivity to Varying Fertility Assumptions

VI.D2 Sensitivity to Varying Death-Rate Assumptions

VI.D3 Sensitivity to Varying Net-Immigration Assumptions

VI.D4 Sensitivity to Varying Real-Wage Assumptions

VI.D5 Sensitivity to Varying CPI-Increase Assumptions

VI.D6 Sensitivity to Varying Real-Interest Assumptions

VI.D7 Sensitivity to Varying Disability Incidence Assumptions

VI.D8 Sensitivity to Varying Disability Termination Assumptions

E. STOCHASTIC PROJECTIONS AND UNCERTAINTY

VI.E1 Long-Range Estimates Relating to the Actuarial Status ofthe Combined OASDI Program

F. ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED

VI.F1 Payroll Tax Contribution Rates for the OASDI and HI Programs

VI.F2 OASDI and HI Annual Income Rates, Cost Rates, and Balances,Calendar Years 2012-90

VI.F3 Summarized OASDI and HI Income Rates and Cost Rates for Valuation Periods, Calendar Years 2012-90

VI.F4 OASDI and HI Annual and Summarized Income, Cost, and Balance as a Percentage of GDP, Calendar Years 2012-90

VI.F5 Ratio of OASDI Taxable Payroll to GDP, Calendar Years 2012-90

VI.F6 Selected Economic Variables, Calendar Years 2011-90

VI.F7 Operations of the Combined OASI and DI Trust Funds,in CPI-indexed 2012 Dollars, Calendar Years 2012-90

VI.F8 Operations of the Combined OASI and DI Trust Funds, in Current Dollars, Calendar Years 2012-90

VI.F9 OASDI and HI Annual Non-interest Income, Cost, andBalance in Current Dollars, Calendar Years 2012-90

G. ANALYSIS OF BENEFIT DISBURSEMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES

VI.G1 Benefit Disbursements From the OASI Trust FundWith Respect to Disabled Beneficiaries

VI.G2 Benefit Disbursements Under the OASDI ProgramWith Respect to Disabled Beneficiaries