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The 2019 OASDI Trustees Report
Office of the Chief Actuary
Actuarial Publications
Reading the Report
Table of Contents
List of Tables
List of Figures
Index
LIST OF TABLES
II. OVERVIEW
II.B1 Summary of 2018 Trust Fund Financial Operations
II.B2 Payroll Tax Contribution Rates for 2018
II.C1 Key Assumptions and Summary Measures for the Long-Range (75-year) Projection Period
II.D1 Projected Maximum Trust Fund Ratios During the Long-Range Period and Trust Fund Reserve Depletion Dates
II.D2 Reasons for Change in the 75-Year Actuarial Balance, Based on Intermediate Assumptions
III. FINANCIAL OPERATIONS OF THE TRUST FUNDS AND LEGISLATIVE CHANGES IN THE LAST YEAR
III.A1 Operations of the OASI Trust Fund, Calendar Year 2018
III.A2 Operations of the DI Trust Fund, Calendar Year 2018
III.A3 Operations of the Combined OASI and DI Trust Funds, Calendar Year 2018
III.A4 Comparison of Actual Calendar Year 2018 Trust Fund Operations With Estimates Made in Prior Reports, Based on Intermediate Assumptions
III.A5 Distribution of Benefit Payments by Type of Beneficiary or Payment, Calendar Years 2017 and 2018
III.A6 Administrative Expenses as a Percentage of Total Income and of Total Cost, Calendar Years 2014-2018
III.A7 Trust Fund Investment Transactions, Calendar Year 2018
IV. ACTUARIAL ESTIMATES
IV.A1 Operations of the OASI Trust Fund, Calendar Years 2014-2028
IV.A2 Operations of the DI Trust Fund, Calendar Years 2014-2028
IV.A3 Operations of the Combined OASI and DI Trust Funds,Calendar Years 2014-2028
IV.A4 Reasons for Change in Trust Fund (Unfunded Obligation) Ratios at the Beginning of the Tenth Year of Projection Under Intermediate Assumptions
IV.B1 Annual Income Rates, Cost Rates, and Balances, Calendar Years 1990-2095
IV.B2 Components of Annual Income Rates, Calendar Years 1990-2095
IV.B3 Covered Workers and Beneficiaries, Calendar Years 1945-2095
IV.B4 Trust Fund Ratios, Calendar Years 2019-2095
IV.B5 Components of Summarized Income Rates and Cost Rates, Calendar Years 2019-2093
IV.B6 Components of 75-Year Actuarial Balance and Unfunded Obligation Under Intermediate Assumptions
IV.B7 Reasons for Change in the 75-Year Actuarial Balance,Based on Intermediate Assumptions
V. ASSUMPTIONS AND METHODS UNDERLYING ACTUARIAL ESTIMATES
V.A1 Fertility and Mortality Assumptions, Calendar Years 1940-2095
V.A2 Immigration Assumptions, Calendar Years 1940-2095
V.A3 Social Security Area Population on July 1 and Dependency Ratios, Calendar Years 1945-2095
V.A4 Period Life Expectancy
V.A5 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, 1975-2028
V.C2 Values for Selected Wage-Indexed Program Parameters, Calendar Years 1978-2028
V.C3 Legislated Changes in Normal Retirement Age and Delayed Retirement Credits for Persons Attaining Age 62 in Each Year 1986 and Later
V.C4 OASI Beneficiaries With Benefits in Current-Payment Status at the End of Calendar Years 1945-2095
V.C5 DI Beneficiaries With Benefits in Current-Payment Statusat the End of Calendar Years 1960-2095
V.C6 Contribution and Benefit Base and Payroll Tax Contribution Rates
V.C7 Annual Scheduled Benefit Amounts for Retired Workers With Various Pre-Retirement Earnings Patterns Based on Intermediate Assumptions, Calendar Years 2019-2095
VI. APPENDICES
A. HISTORY OF OASI AND DI TRUST FUND OPERATIONS
VI.A1 Operations of the OASI Trust Fund, Calendar Years 1937-2018
VI.A2 Operations of the DI Trust Fund, Calendar Years 1957-2018
VI.A3 Operations of the Combined OASI and DI Trust Funds, Calendar Years 1957-2018
VI.A4 OASI Trust Fund Asset Reserves, End of Calendar Years 2017 and 2018
VI.A5 DI Trust Fund Asset Reserves, End of Calendar Years 2017 and 2018
B. HISTORY OF
ACTUARIAL STATUS
ESTIMATES
VI.B1 Long-Range OASDI Actuarial Balances and Trust Fund Reserve Depletion Dates as Shown in the Trustees Reports for 1982-2019 under Intermediate Assumptions
C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2028
VI.C1 Operations of the OASI Trust Fund, Fiscal Year 2018
VI.C2 Operations of the DI Trust Fund, Fiscal Year 2018
VI.C3 Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2018
VI.C4 Operations of the OASI Trust Fund, Fiscal Years 2014-2028
VI.C5 Operations of the DI Trust Fund, Fiscal Years 2014-2028
VI.C6 Operations of the Combined OASI and DI Trust Funds, Fiscal Years 2014-2028
D. LONG-RANGE SENSITIVITY ANALYSIS
VI.D1 Sensitivity of OASDI Measures to Fertility Assumptions
VI.D2 Sensitivity of OASDI Measures to Death-Rate Assumptions
VI.D3 Sensitivity of OASDI Measures to Total Net Immigration Assumptions
VI.D4 Sensitivity of OASDI Measures to Real-Wage Assumptions
VI.D5 Sensitivity of OASDI Measures to CPI-Increase Assumptions
VI.D6 Sensitivity of OASDI Measures to Real-Interest Assumptions
VI.D7 Sensitivity of OASDI Measures to Taxable Ratio Assumptions
VI.D8 Sensitivity of OASDI Measures to Disability Incidence Assumptions
VI.D9 Sensitivity of OASDI Measures to Disability Termination Assumptions
E. STOCHASTIC PROJECTIONS AND UNCERTAINTY
VI.E1 Long-Range Estimates Relating to the Actuarial Status ofthe Combined OASDI Program
F. INFINITE HORIZON PROJECTIONS
VI.F1 Unfunded OASDI Obligations Through the Infinite Horizon and the 75-Year Projection Period, Based on Intermediate Assumptions
VI.F2 Present Values Through the Infinite Horizon for Various Categories of Program Participants, Based on Intermediate Assumptions
G. ESTIMATES FOR OASDI AND HI, SEPARATE AND COMBINED
VI.G1 Payroll Tax Contribution Rates for the OASDI and HI Programs
VI.G2 OASDI and HI Annual Income Rates, Cost Rates, and Balances,Calendar Years 2019-2095
VI.G3 Summarized OASDI and HI Income Rates and Cost Rates for Valuation Periods, Calendar Years 2019-2093
VI.G4 OASDI and HI Annual and Summarized Income, Cost, and Balance as a Percentage of GDP, Calendar Years 2019-2095
VI.G5 Ratio of OASDI Taxable Payroll to GDP, Calendar Years 2019-2095
VI.G6 Selected Economic Variables, Calendar Years 2018-2095
VI.G7 Operations of the Combined OASI and DI Trust Funds,in CPI-indexed 2019 Dollars, Calendar Years 2019-2095
VI.G8 Operations of the Combined OASI and DI Trust Funds, in Current Dollars, Calendar Years 2019-2095
VI.G9 OASDI and HI Annual Non-interest Income, Cost, andBalance in CPI-Indexed 2019 Dollars, Calendar Years 2019-2095
VI.G10 OASDI and HI Annual Non-interest Income, Cost, and Balance in Current Dollars, Calendar Years 2019-2095
H. ANALYSIS OF BENEFIT PAYMENTS FROM THE OASI TRUST FUND WITH RESPECT TO DISABLED BENEFICIARIES
VI.H1 Scheduled Benefit Payments From the OASI Trust FundWith Respect to Disabled Beneficiaries
VI.H2 Scheduled Benefit Payments Under the OASDI ProgramWith Respect to Disabled Beneficiaries
