2015 OASDI Trustees Report

C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2024

Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2014 operations of the OASI, DI, and the theoretical combined OASI and DI Trust Funds, respectively. The fiscal year for the U.S. Government is the 12-month period ending September 30. Fiscal year 2014 is the most recent fiscal year for which complete information is available. The descriptions of the values in these tables are similar to the corresponding descriptions and values in the calendar year operations tables in section III.A. Please see that section for a description of the various items of income and outgo.

Table VI.C1.—Operations of the OASI Trust Fund, Fiscal Year 2014

[In millions]

Total asset reserves, September 30, 2013					$2,655,049
Receipts:
	Net payroll tax contributions:
		Payroll tax contributions1		$644,414
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refunda		-2,158
			Net payroll tax contributionsa		642,256
	Reimbursements from the general fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		95
		Reduction in payroll tax contributions due to P.L. 111-147a		25
		Reimbursements directed by P.L. 110-246		7
		Payroll tax credits due to P.L. 98-21a		2
			Net general fund reimbursementsa		126
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		182
		All other, not subject to withholdinga		24,459
			Total income from taxation of benefitsa		24,641
	Investment income and interest adjustments:
		Interest on investments		96,270
		Interest adjustments 3		2
			Total investment income and interest adjustments		96,271
			Gifts		b
Total receipts					763,295
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death payments4		698,279
		Reimbursement from the general fund for unnegotiated checks		-45
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		2
			Net benefit paymentsd		698,235
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,257
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,898
			Department of the Treasury	536
		Adjustments for prior year administrative expenses		-271
		Offsetting miscellaneous receipts		-5
		Miscellaneous reimbursements from the general fund 5		-5
			Net administrative expenses		3,153
Total disbursements					705,645
Net increase in asset reserves					57,650
Total asset reserves, September 30, 2014					2,712,699

---

1

Includes adjustments for prior years

2

Between -$0.5 and $0.5 million.

3

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust fund.

4

Includes net reductions for the recovery of overpayments.

5

Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI program.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C2.—Operations of the DI Trust Fund, Fiscal Year 2014 

[In millions]

Total asset reserves, September 30, 2013					$100,486
Receipts:
	Net payroll tax contributions:
		Payroll tax contributions1		$109,426
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refunda		-366
			Net payroll tax contributionsa		109,060
	Reimbursements from the general fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		21
		Reduction in payroll tax contributions due to P.L. 111-147a		4
		Reimbursements directed by P.L. 110-246		1
		Payroll tax credits due to P.L. 98-21a		2
			Net general fund reimbursementsa		27
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		4
		All other, not subject to withholdinga		1,018
			Total income from taxation of benefitsa		1,022
	Investment income and interest adjustments:
		Interest on investments		3,995
		Interest adjustments3		1
			Total investment income and interest adjustments		3,997
Total receipts					114,105
Disbursements:
	Benefit payments:
		Monthly benefits4		141,270
		Reimbursement from the general fund for unnegotiated checks		-23
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		80
			Net benefit paymentsd		141,327
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				444
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,674
			Department of the Treasury	102
		Adjustments for prior year administrative expenses		109
		Demonstration projects		16
		Miscellaneous reimbursements from the general fund 5		-4
			Net administrative expenses		2,897
Total disbursements					144,667
Net increase in asset reserves					-30,562
Total asset reserves, September 30, 2014					69,925

---

1

Includes adjustments for prior years.

2

Between -$0.5 and $0.5 million.

3

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust fund and the general fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust fund.

4

Includes net reductions for the recovery of overpayments.

5

Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the DI program.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C3.—Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2014 

[In millions]

Total asset reserves, September 30, 2013					$2,755,536
Receipts:
	Net payroll tax contributions:
		Payroll tax contributions1		$753,840
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refunda		-2,524
			Net payroll tax contributionsa		751,316
	Reimbursements from the general fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		116
		Reduction in payroll tax contributions due to P.L. 111-147a		29
		Reimbursements directed by P.L. 110-246		8
		Payroll tax credits due to P.L. 98-21a		2
			Net general fund reimbursementsa		153
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		187
		All other, not subject to withholdinga		25,477
			Total income from taxation of benefitsa		25,664
	Investment income and interest adjustments:
		Interest on investments		100,265
		Interest adjustments3		3
			Total investment income and interest adjustments		100,268
	Gifts				b
Total receipts					877,401
Disbursements:
	Benefit payments:
		Monthly benefits and lump-sum death payments4		839,549
		Reimbursement from the general fund for unnegotiated checks		-68
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		81
			Net benefit paymentsd		839,562
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				4,701
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	5,572
			Department of the Treasury	638
		Adjustments for prior year administrative expenses		-163
		Offsetting miscellaneous receipts		-5
		Demonstration projects		16
		Miscellaneous reimbursements from the general fund5		-8
			Net administrative expenses		6,050
Total disbursements					850,312
Net increase in asset reserves					27,088
Total asset reserves, September 30, 2014					2,782,624

---

1

Includes adjustments for prior years.

2

Between -$0.5 and $0.5 million.

3

Includes: (1) interest on adjustments in the allocation of administrative expenses between the trust funds and the general fund account for the Supplemental Security Income program, (2) interest arising from the revised allocation of administrative expenses among the trust funds, and (3) interest on certain reimbursements to the trust funds.

4

Includes net reductions for the recovery of overpayments.

5

Reimbursements for costs incurred in performing certain legislatively mandated activities not directly related to administering the OASI and DI programs.

Note: Totals do not necessarily equal the sums of rounded components.

Tables VI.C4, VI.C5, and VI.C6 show estimates of the operations and status of the OASI, DI, and the theoretical combined OASI and DI Trust Funds, respectively, during fiscal years 2010-24.

Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2010-24

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay- roll tax contri- butions	GF reim- burse- ments1	Taxa- tion of bene-fits2	Net interest		Total	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio 3
Historical data:
	2010	$682.4	$552.0	$0.7	$21.1	$108.6		$579.9	$572.5	$3.5	$3.9		$102.5	$2,398.4	396
	2011	692.5	495.0	68.9	21.2	107.4		599.2	591.5	3.6	4.1		93.3	2,491.7	400
	2012	729.0	500.7	95.9	27.2	105.2		634.7	627.2	3.4	4.1		94.3	2,585.9	393
	2013	739.7	590.0	26.4	23.1	100.1		670.6	663.2	3.4	3.9		69.1	2,655.0	386
	2014	763.3	642.3	.1	24.6	96.3		705.6	698.2	3.2	4.3		57.6	2,712.7	376
Intermediate:
	2015	790.7	667.8	.2	29.5	93.2		743.7	736.3	3.2	4.3		47.0	2,759.7	365
	2016	828.5	705.5	.2	33.3	89.4		779.9	772.2	3.3	4.4		48.6	2,808.3	354
	2017	881.0	754.1	.1	36.9	89.9		832.9	825.4	3.3	4.1		48.1	2,856.4	337
	2018	935.9	803.2	4	40.4	92.3		894.2	886.2	3.5	4.6		41.7	2,898.1	319
	2019	991.8	851.1	d	44.2	96.5		958.6	950.2	3.6	4.7		33.2	2,931.3	302
	2020	1,043.2	894.2	d	48.3	100.8		1,026.5	1,018.0	3.8	4.7		16.7	2,948.0	286
	2021	1,105.2	949.0	d	52.4	103.9		1,095.1	1,086.2	3.9	5.0		10.1	2,958.1	269
	2022	1,163.9	1,000.6	d	56.8	106.4		1,167.9	1,158.7	4.0	5.2		-4.0	2,954.1	253
	2023	1,217.2	1,046.2	d	61.6	109.4		1,245.9	1,236.5	4.2	5.3		-28.7	2,925.4	237
	2024	1,275.7	1,096.5	d	66.8	112.4		1,329.3	1,319.7	4.3	5.3		-53.6	2,871.8	220
Low-cost:
	2015	793.2	670.1	.2	29.5	93.3		743.5	736.1	3.2	4.3		49.7	2,762.4	365
	2016	855.7	730.7	.2	33.4	91.5		780.3	772.7	3.3	4.3		75.4	2,837.8	354
	2017	925.3	792.5	.1	37.0	95.7		835.3	827.9	3.3	4.1		89.9	2,927.7	340
	2018	1,000.8	855.8	d	40.7	104.2		901.2	893.2	3.6	4.5		99.5	3,027.3	325
	2019	1,080.3	921.0	d	44.8	114.5		971.4	962.9	3.8	4.7		109.0	3,136.2	312
	2020	1,156.6	981.5	d	49.2	125.9		1,045.9	1,037.3	3.9	4.7		110.8	3,247.0	300
	2021	1,245.5	1,054.7	d	53.7	137.1		1,122.2	1,113.1	4.1	5.0		123.3	3,370.2	289
	2022	1,335.2	1,126.9	d	58.6	149.7		1,203.9	1,194.4	4.3	5.2		131.4	3,501.6	280
	2023	1,424.9	1,196.4	d	63.9	164.6		1,292.2	1,282.3	4.5	5.3		132.8	3,634.4	271
	2024	1,524.2	1,273.4	d	69.7	181.1		1,387.3	1,377.3	4.7	5.3		136.8	3,771.2	262
High-cost:
	2015	787.7	664.8	.2	29.5	93.2		743.9	736.5	3.2	4.3		43.8	2,756.5	365
	2016	797.7	677.1	.2	33.4	87.1		780.6	772.9	3.3	4.4		17.1	2,773.6	353
	2017	834.7	714.0	.1	36.8	83.9		830.7	823.1	3.3	4.2		4.0	2,777.7	334
	2018	869.8	747.9	d	40.0	81.8		886.9	878.8	3.4	4.6		-17.1	2,760.5	313
	2019	906.0	780.4	d	43.6	82.0		945.3	937.0	3.5	4.8		-39.2	2,721.3	292
	2020	934.2	807.9	d	47.3	78.9		1,006.5	998.1	3.6	4.7		-72.3	2,649.0	270
	2021	973.3	845.3	d	51.0	77.0		1,067.5	1,058.7	3.7	5.1		-94.2	2,554.8	248
	2022	1,007.6	879.2	d	55.1	73.3		1,131.6	1,122.6	3.8	5.2		-124.0	2,430.8	226
	2023	1,035.3	908.3	d	59.3	67.6		1,199.6	1,190.5	3.9	5.2		-164.3	2,266.5	203
	2024	1,064.7	938.4	d	63.9	62.4		1,271.6	1,262.5	3.9	5.2		-206.9	2,059.5	178

---

1

Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (3) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (4) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (5) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

2

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

3

The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

4

Between -$50 million and $50 million.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C5.—Operations of the DI Trust Fund, Fiscal Years 2010-24¹

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay- roll tax contri- butions	GF reim- burse- ments2	Taxa- tion of bene-fits3	Net interest		Total	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio 4
Historical data:
	2010	$105.5	$93.7	$0.1	$1.7	$9.9		$126.3	$122.9	$2.9	$0.5		-$20.8	$186.9	164
	2011	106.2	84.0	11.7	1.9	8.6		131.5	128.0	3.0	.5		-25.3	161.7	142
	2012	108.8	85.1	16.2	.4	7.2		138.5	135.1	2.9	.5		-29.7	132.0	117
	2013	111.3	100.2	4.5	1.1	5.5		142.8	139.4	2.8	.6		-31.5	100.5	92
	2014	114.1	109.1	5	1.0	4.0		144.7	141.3	2.9	.4		-30.6	69.9	69
Intermediate:
	2015	117.2	113.4	e	1.0	2.7		148.3	144.9	3.0	.4		-31.1	38.8	47
	2016	123.0	119.8	e	1.9	1.2		151.6	148.0	3.2	.3		-28.6	10.2	26
	2017	6	128.1	e	2.1	f		156.9	153.4	3.1	.3		f	f	7
	2018	f	136.4	e	2.3	f		163.9	160.1	3.5	.3		f	f	f
	2019	f	144.5	e	2.5	f		171.4	167.3	3.9	.2		f	f	f
	2020	f	151.8	e	2.7	f		178.7	174.4	4.2	.2		f	f	f
	2021	f	161.1	e	2.9	f		186.7	182.1	4.4	.1		f	f	f
	2022	f	169.9	e	3.1	f		195.2	190.4	4.7	.1		f	f	f
	2023	f	177.7	e	3.3	f		204.2	199.1	5.0	.1		f	f	f
	2024	f	186.2	e	3.5	f		213.1	207.8	5.3	.1		f	f	f
Low-cost:
	2015	117.6	113.8	e	1.0	2.7		146.8	143.4	3.0	.4		-29.2	40.7	48
	2016	127.4	124.1	e	1.9	1.4		148.1	144.6	3.2	.3		-20.8	20.0	27
	2017	137.2	134.6	e	2.0	.6		151.8	148.3	3.1	.3		-14.6	5.3	13
	2018	f	145.3	e	2.2	f		157.5	153.7	3.6	.3		f	f	3
	2019	f	156.4	e	2.4	f		163.8	159.6	4.0	.2		f	f	f
	2020	f	166.7	e	2.5	f		170.2	165.6	4.4	.2		f	f	f
	2021	f	179.1	e	2.7	f		177.3	172.5	4.7	.1		f	f	f
	2022	f	191.4	e	2.9	f		185.3	180.1	5.1	.1		f	f	f
	2023	f	203.2	e	3.1	f		193.7	188.1	5.4	.1		f	12.0	f
	2024	220.4	216.2	e	3.4	.8		202.1	196.2	5.8	.1		18.3	30.3	6
High-cost:
	2015	116.7	112.9	e	1.0	2.7		149.9	146.5	3.0	.4		-33.2	36.8	47
	2016	f	115.0	e	1.9	f		155.4	151.8	3.2	.4		f	f	24
	2017	f	121.2	e	2.2	f		162.3	158.9	3.1	.3		f	f	f
	2018	f	127.0	e	2.4	f		170.5	166.8	3.5	.3		f	f	f
	2019	f	132.5	e	2.6	f		178.8	174.9	3.7	.2		f	f	f
	2020	f	137.2	e	2.8	f		186.9	182.8	3.9	.2		f	f	f
	2021	f	143.5	e	3.0	f		195.4	191.0	4.2	.2		f	f	f
	2022	f	149.3	e	3.2	f		204.3	199.7	4.4	.1		f	f	f
	2023	f	154.2	e	3.5	f		213.3	208.6	4.6	.1		f	f	f
	2024	f	159.4	e	3.7	f		222.1	217.2	4.8	.1		f	f	f

---

1

The DI Trust Fund becomes depleted in fiscal years 2017 and 2016 and remains so through 2024 under the intermediate and high-cost assumptions, respectively. Under the low-cost assumptions, reserves would be depleted in 2018 through early 2023. For any period during which reserves would be depleted, scheduled benefits could not be paid in full on a timely basis, income from taxing benefits would be less than would apply to scheduled benefits, and interest on trust fund reserves would be negligible.

2

Includes reimbursements from the General Fund of the Treasury to the DI Trust Fund for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (3) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (4) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

3

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

4

The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

5

Between -$50 million and $50 million.

6

While the fund is depleted, values under current law would reflect permissible expenditures only, which are inconsistent with the cost of scheduled benefits shown in this table.

Note: Totals do not necessarily equal the sums of rounded components.

Table VI.C6.—Operations of the Combined OASI and DI Trust Funds,
Fiscal Years 2010-24 

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves
		Total	Net pay-roll tax contri- butions	GF reim- burse- ments1	Taxa- tion of bene‑ fits2	Net interest		Total	Sched-uled benefits	Admin- istra- tive costs	RRB inter- change		Net increase during year	Amount at end of year	Trust fund ratio 3
Historical data:
	2010	$788.0	$645.8	$0.9	$22.8	$118.5		$706.3	$695.4	$6.4	$4.4		$81.7	$2,585.3	354
	2011	798.7	579.1	80.6	23.1	116.0		730.7	719.5	6.7	4.6		68.0	2,653.3	354
	2012	837.8	585.7	112.2	27.5	112.4		773.2	762.3	6.3	4.7		64.6	2,717.9	343
	2013	850.9	690.1	30.9	24.2	105.7		813.3	802.6	6.2	4.5		37.6	2,755.5	334
	2014	877.4	751.3	.2	25.7	100.3		850.3	839.6	6.0	4.7		27.1	2,782.6	324
Intermediate:
	2015	907.9	781.2	.3	30.6	95.9		892.0	881.2	6.1	4.6		15.9	2,798.5	312
	2016	951.4	825.3	.2	35.2	90.7		931.5	920.3	6.5	4.7		20.0	2,818.5	300
	2017	1,011.1	882.2	.1	38.9	89.8		989.7	978.8	6.5	4.4		21.3	2,839.8	285
	2018	1,073.4	939.5	4	42.6	91.2		1,058.1	1,046.3	7.0	4.8		15.3	2,855.1	268
	2019	1,136.2	995.6	d	46.7	93.9		1,129.9	1,117.5	7.5	4.9		6.2	2,861.4	253
	2020	1,193.8	1,046.1	d	51.0	96.7		1,205.2	1,192.4	7.9	4.9		-11.5	2,849.9	237
	2021	1,263.7	1,110.1	d	55.2	98.3		1,281.8	1,268.3	8.4	5.2		-18.1	2,831.8	222
	2022	1,329.7	1,170.5	d	59.9	99.2		1,363.1	1,349.1	8.8	5.3		-33.4	2,798.4	208
	2023	1,389.3	1,223.8	d	64.9	100.5		1,450.1	1,435.6	9.2	5.4		-60.8	2,737.5	193
	2024	1,454.6	1,282.7	d	70.3	101.6		1,542.4	1,527.5	9.5	5.4		-87.8	2,649.8	177
Low-cost:
	2015	910.7	783.9	.3	30.5	96.0		890.3	879.5	6.1	4.6		20.5	2,803.1	313
	2016	983.1	854.8	.2	35.2	92.9		928.5	917.3	6.5	4.7		54.6	2,857.7	302
	2017	1,062.4	927.1	.1	39.0	96.3		987.1	976.2	6.5	4.4		75.3	2,933.1	290
	2018	1,148.2	1,001.2	d	42.9	104.1		1,058.8	1,046.8	7.2	4.8		89.4	3,022.5	277
	2019	1,238.4	1,077.4	d	47.2	113.8		1,135.2	1,122.5	7.8	4.9		103.2	3,125.7	266
	2020	1,324.9	1,148.2	d	51.7	125.0		1,216.1	1,202.9	8.3	4.8		108.8	3,234.5	257
	2021	1,426.4	1,233.8	d	56.4	136.2		1,299.6	1,285.6	8.8	5.2		126.8	3,361.3	249
	2022	1,528.9	1,318.3	d	61.5	149.1		1,389.1	1,374.5	9.4	5.3		139.8	3,501.1	242
	2023	1,631.2	1,399.6	d	67.0	164.6		1,485.8	1,470.5	10.0	5.4		145.3	3,646.4	236
	2024	1,744.6	1,489.6	d	73.1	181.9		1,589.4	1,573.5	10.5	5.4		155.2	3,801.6	229
High-cost:
	2015	904.4	777.7	.3	30.6	95.9		893.8	883.0	6.1	4.6		10.6	2,793.3	311
	2016	915.7	792.1	.2	35.3	88.1		936.0	924.7	6.5	4.7		-20.3	2,773.0	298
	2017	957.7	835.3	.1	38.9	83.5		993.0	982.0	6.5	4.5		-35.3	2,737.7	279
	2018	997.4	874.9	d	42.4	80.1		1,057.4	1,045.6	6.9	4.9		-60.0	2,677.7	259
	2019	1,037.5	912.9	d	46.2	78.4		1,124.1	1,111.8	7.2	5.0		-86.6	2,591.2	238
	2020	1,068.4	945.1	d	50.1	73.2		1,193.4	1,180.9	7.6	4.9		-125.0	2,466.2	217
	2021	1,111.7	988.8	d	54.0	68.8		1,262.9	1,249.8	7.9	5.2		-151.1	2,315.0	195
	2022	1,149.2	1,028.5	d	58.3	62.4		1,335.8	1,322.3	8.2	5.3		-186.6	2,128.4	173
	2023	1,179.2	1,062.6	d	62.8	53.8		1,412.9	1,399.1	8.5	5.4		-233.8	1,894.7	151
	2024	1,210.6	1,097.7	d	67.6	45.3		1,493.7	1,479.7	8.7	5.3		-283.1	1,611.6	127

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1

Includes reimbursements from the General Fund of the Treasury to the OASI and DI Trust Funds for: (1) the cost of noncontributory wage credits for military service before 1957; (2) the cost of benefits to certain uninsured persons who attained age 72 before 1968; (3) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; (4) the cost in 2009-17 of excluding certain self-employment earnings from SECA taxes under Public Law 110-246; and (5) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96.

2

Revenue from taxation of benefits is the amount that would be assessed on benefit amounts scheduled in the law.

3

The “Trust fund ratio” column represents asset reserves at the beginning of a year (which are identical to reserves at the end of the prior year shown in the “Amount at end of year” column) as a percentage of cost for the year.

4

Between -$50 million and $50 million.