2024 OASDI Trustees Report

C. FISCAL YEAR HISTORICAL AND PROJECTED TRUST FUND OPERATIONS THROUGH 2033

Tables VI.C1, VI.C2, and VI.C3 contain details of the fiscal year 2023 operations of the OASI, DI, and the 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 2023 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 cost.

Table VI.C1.—Operations of the OASI Trust Fund, Fiscal Year 2023

[In millions]

Total asset reserves, September 30, 2022					$2,723,629
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$1,044,371
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-5,366
			Net payroll tax contributionsa		1,039,004
	Reimbursements from the General Fund:
		Transfer directed by P.L. 116-136		183
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		b
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		183
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		278
		All other, not subject to withholdinga		49,487
			Total income from taxation of benefitsa		49,765
	Investment income and interest adjustments:
		Interest on investments		63,275
		Interest adjustments c		-6
			Total investment income and interest adjustments		63,269
	Gifts				b
Total income					1,152,222
Cost:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		1,192,183
		Reimbursement from the General Fund for unnegotiated checks		-55
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		20
			Net benefit paymentsd		1,192,148
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				5,576
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	3,699
			Department of the Treasury	650
		Offsetting miscellaneous receipts		-2
		Miscellaneous reimbursements from the General Fund e		-6
			Net administrative expenses		4,341
Total cost					1,202,065
Net change in asset reserves					-49,843
	Total invested assets			2,673,749
	Undisbursed balancesf			37
Total asset reserves, September 30, 2023					2,673,786

---

a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

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.

d

Includes net reductions for the recovery of overpayments.

e

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

f

A positive balance represents a situation where the invested securities of the OASI Trust Fund that were redeemed to make cash payments exceeded actual program cash payments. In this situation, this excess amount will be used to partially offset future redemption of additional invested securities.

Note: Components may not sum to totals because of rounding.

Table VI.C2.—Operations of the DI Trust Fund, Fiscal Year 2023 

[In millions]

Total asset reserves, September 30, 2022					$114,691
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$177,375
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-911
			Net payroll tax contributionsa		176,465
	Reimbursements from the General Fund:
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		b
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		b
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		4
		All other, not subject to withholdinga		1,017
			Total income from taxation of benefitsa		1,021
	Investment income and interest adjustments:
		Interest on investments		3,238
		Interest adjustmentsc		3
			Total investment income and interest adjustments		3,241
	Gifts				b
Total income					180,726
Cost:
	Benefit payments:
		Monthly benefitsd		149,566
		Reimbursement from the General Fund for unnegotiated checks		-28
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		105
			Net benefit paymentsd		149,643
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				60
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	2,686
			Department of the Treasury	112
		Demonstration projects		3
		Miscellaneous reimbursements from the General Fund e		-3
			Net administrative expenses		2,798
Total cost					152,500
Net change in asset reserves					28,226
	Total invested assets			142,906
	Undisbursed balancesf			11
Total asset reserves, September 30, 2023					142,917

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a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

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.

d

Includes net reductions for the recovery of overpayments.

e

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

f

A positive balance represents a situation where the invested securities of the DI Trust Fund that were redeemed to make cash payments exceeded actual program cash payments. In this situation, this excess amount will be used to partially offset future redemption of additional invested securities.

Note: Components may not sum to totals because of rounding.

Table VI.C3.—Operations of the Combined OASI and DI Trust Funds, Fiscal Year 2023 

[In millions]

Total asset reserves, September 30, 2022					$2,838,320
Income:
	Net payroll tax contributions:
		Payroll tax contributionsa		$1,221,746
		Payments from the General Fund of the Treasury for payroll tax contributions subject to refund		-6,277
			Net payroll tax contributionsa		1,215,469
	Reimbursements from the General Fund:
		Transfer directed by P.L. 116-136		183
		Reduction in payroll tax contributions due to P.L.s 111-312, 112-78, and 112-96a		b
		Payroll tax credits due to P.L. 98-21a		b
			Net General Fund reimbursementsa		183
	Income based on taxation of benefit payments:
		Withheld from benefit payments to nonresident aliens		282
		All other, not subject to withholdinga		50,504
			Total income from taxation of benefitsa		50,786
	Investment income and interest adjustments:
		Interest on investments		66,513
		Interest adjustmentsc		-3
			Total investment income and interest adjustments		66,510
	Gifts				b
Total income					1,332,948
Cost:
	Benefit payments:
		Monthly benefits and lump-sum death paymentsd		1,341,749
		Reimbursement from the General Fund for unnegotiated checks		-83
		Payment for costs of vocational rehabilitation services for disabled beneficiaries		126
			Net benefit paymentsd		1,341,791
	Financial interchange with the Railroad Retirement “Social Security Equivalent Benefit Account”				5,636
	Administrative expenses:
		Costs incurred by:
			Social Security Administration	6,385
			Department of the Treasury	762
		Offsetting miscellaneous receipts		-2
		Demonstration projects		3
		Miscellaneous reimbursements from the General Funde		-9
			Net administrative expenses		7,139
Total cost					1,354,566
Net change in asset reserves					-21,618
	Total invested assets			2,816,655
	Undisbursed balancesf			48
Total asset reserves, September 30, 2023					2,816,703

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a

Includes adjustments for prior years.

b

Between -$0.5 and $0.5 million.

c

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.

d

Includes net reductions for the recovery of overpayments.

e

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

f

A positive balance represents a situation where the invested securities of the combined OASI and DI Trust Funds that were redeemed to make cash payments exceeded actual program cash payments. In this situation, this excess amount will be used to partially offset future redemption of additional invested securities.

Note: Components may not sum to totals because of rounding.

Tables VI.C4, VI.C5, and VI.C6 show estimates of the operations and status of the OASI, DI, and the hypothetical combined OASI and DI Trust Funds, respectively, during fiscal years 2019 through 2033.

Table VI.C4.—Operations of the OASI Trust Fund, Fiscal Years 2019-2033^a

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves		Trust fund ratio at start of year b
		Total	Net pay- roll tax contri- butionsc	GF reim- burse- mentsd	Taxa- tion of benefitsc e	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net change during year	Amount at end of year
Historical data:
	2019	$900.1	$785.6	f	$34.9	$79.6		$896.8	$888.1	$3.9	$4.9		$3.2	$2,804.3	312
	2020	955.6	841.7	f	37.9	76.0		948.7	940.2	3.7	4.8		6.9	2,811.2	296
	2021	936.0	831.1	f	34.3	70.5		991.4	982.7	3.9	4.8		-55.4	2,755.8	284
	2022	1,041.1	929.0	f	47.0	65.1		1,073.3	1,063.9	4.0	5.3		-32.2	2,723.6	257
	2023	1,152.2	1,039.0	$0.2	49.8	63.3		1,202.1	1,192.1	4.3	5.6		-49.8	2,673.8	227
Intermediate:
	2024	1,184.0	1,066.1	f	54.4	63.6		1,301.7	1,291.6	4.4	5.7		-117.6	2,556.2	205
	2025	1,215.7	1,094.4	f	59.1	62.2		1,384.7	1,374.2	4.5	5.9		-169.0	2,387.2	185
	2026	1,278.4	1,148.6	f	70.7	59.0		1,465.0	1,454.4	4.5	6.1		-186.7	2,200.5	163
	2027	1,333.0	1,196.3	.1	79.5	57.1		1,548.4	1,537.5	4.7	6.2		-215.4	1,985.1	142
	2028	1,403.0	1,262.3	.9	86.4	53.3		1,638.0	1,626.8	4.9	6.3		-235.0	1,750.1	121
	2029	1,460.4	1,318.7	f	93.5	48.2		1,730.2	1,718.8	5.1	6.4		-269.8	1,480.3	101
	2030	1,522.3	1,379.6	f	101.0	41.7		1,824.3	1,812.7	5.2	6.4		-302.0	1,178.3	81
	2031	1,585.4	1,442.1	f	109.1	34.3		1,919.9	1,907.9	5.4	6.5		-334.4	843.8	61
	2032	1,648.1	1,505.4	f	117.7	25.0		2,016.4	2,004.2	5.6	6.6		-368.3	475.5	42
	2033	1,727.1	1,587.6	f	127.0	12.4		2,113.9	2,101.4	5.8	6.7		-386.8	88.7	22
Low-cost:
	2024	1,195.1	1,077.1	f	54.3	63.7		1,301.1	1,291.0	4.4	5.7		-106.0	2,567.8	206
	2025	1,270.3	1,147.2	f	59.0	64.0		1,383.7	1,373.2	4.5	5.9		-113.4	2,454.4	186
	2026	1,351.3	1,214.6	f	71.0	65.6		1,470.9	1,460.3	4.5	6.1		-119.6	2,334.8	167
	2027	1,433.6	1,285.6	.1	80.3	67.7		1,562.2	1,551.3	4.8	6.1		-128.5	2,206.3	149
	2028	1,532.0	1,374.2	.9	87.5	69.3		1,659.5	1,648.2	5.0	6.2		-127.5	2,078.7	133
	2029	1,618.9	1,454.1	f	95.1	69.7		1,760.3	1,748.7	5.3	6.3		-141.4	1,937.3	118
	2030	1,715.7	1,542.8	f	103.2	69.6		1,864.2	1,852.2	5.6	6.5		-148.5	1,788.8	104
	2031	1,819.0	1,636.6	f	111.9	70.5		1,970.7	1,958.3	5.8	6.5		-151.6	1,637.2	91
	2032	1,925.7	1,734.6	f	121.4	69.7		2,079.6	2,066.8	6.1	6.7		-153.8	1,483.4	79
	2033	2,058.1	1,857.2	f	131.7	69.3		2,191.0	2,177.9	6.4	6.8		-132.9	1,350.5	68
High-cost:
	2024	1,173.5	1,055.6	f	54.4	63.5		1,302.3	1,292.2	4.4	5.7		-128.8	2,545.0	205
	2025	1,153.5	1,034.0	f	59.1	60.3		1,386.2	1,375.6	4.5	6.0		-232.7	2,312.3	184
	2026	1,204.9	1,080.6	f	70.7	53.7		1,464.3	1,453.6	4.5	6.2		-259.4	2,052.9	158
	2027	1,239.6	1,111.8	.1	79.2	48.4		1,542.1	1,531.1	4.6	6.3		-302.5	1,750.4	133
	2028	1,287.4	1,159.1	.9	85.7	41.7		1,624.8	1,613.7	4.8	6.3		-337.4	1,413.0	108
	2029	1,322.5	1,198.1	f	92.4	32.1		1,709.9	1,698.7	4.9	6.4		-387.4	1,025.6	83
	2030	1,366.0	1,243.4	f	99.5	23.1		1,796.2	1,784.8	5.0	6.4		-430.2	595.4	57
	2031	1,405.8	1,286.5	f	107.0	12.4		1,882.9	1,871.4	5.1	6.5		-477.1	118.2	32
	2032	g	1,325.5	f	115.0	g		1,969.6	1,957.8	5.2	6.5		g	g	6
	2033	g	1,377.7	f	123.6	g		2,056.3	2,044.4	5.3	6.6		g	g	g

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a

The OASI Trust Fund reserves become depleted in fiscal year 2032 under the high-cost assumptions. 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.

b

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.

c

Includes adjustments for prior years.

d

Includes reimbursements from the General Fund of the Treasury to the OASI Trust Fund for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; and (2) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96. Also includes transfers of a portion of proceeds from repayments of loans authorized under Public Law 116-136.

e

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

f

Between -$50 million and $50 million.

g

When the fund reserves are depleted, values under current law would reflect permissible expenditures only, which would be less than the full cost of paying scheduled benefits shown in this table.

Note: Components may not sum to totals because of rounding.

Table VI.C5.—Operations of the DI Trust Fund, Fiscal Years 2019-2033

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves			Trust fund ratio at start of year a
		Total	Net pay- roll tax contri- butionsb	GF reim- burse- mentsc	Taxa- tion of benefitsb d	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net change during year	Amount at end of year
Historical data:
	2019	$151.0	$146.8	e	$1.2	$2.9		$147.7	$144.9	$2.8	$0.1		$3.3	$96.4		63
	2020	147.4	142.9	e	1.7	2.8		146.7	144.1	2.5	.1		.7	97.1		66
	2021	144.4	141.2	e	.5	2.7		143.4	140.7	2.5	.1		1.0	98.1		68
	2022	162.0	157.8	e	1.5	2.7		145.4	142.5	2.8	.2		16.6	114.7		67
	2023	180.7	176.5	e	1.0	3.2		152.5	149.6	2.8	.1		28.2	142.9		75
Intermediate:
	2024	187.2	181.0	e	1.6	4.5		157.8	155.2	2.6	e		29.4	172.3		91
	2025	193.6	185.8	e	1.8	6.0		166.7	163.9	2.8	e		26.9	199.1		103
	2026	204.4	195.1	e	2.1	7.2		177.7	174.9	2.8	e		26.6	225.8		112
	2027	213.9	203.1	e	2.4	8.4		187.4	184.5	2.9	e		26.5	252.2		120
	2028	226.5	214.3	e	2.5	9.6		191.5	188.4	3.1	e		35.0	287.2		132
	2029	237.8	223.9	e	2.6	11.2		193.0	189.8	3.2	e		44.8	332.0		149
	2030	250.3	234.3	e	2.7	13.3		197.0	193.6	3.3	.1		53.3	385.3		169
	2031	263.3	244.9	e	2.9	15.5		202.9	199.4	3.4	.1		60.4	445.7		190
	2032	276.9	255.6	e	3.1	18.2		210.0	206.3	3.6	.1		66.9	512.7		212
	2033	294.2	269.6	e	3.4	21.2		218.4	214.6	3.7	.1		75.8	588.4		235
Low-cost:
	2024	189.1	182.9	e	1.6	4.6		156.6	154.0	2.6	e		32.5	175.4		91
	2025	203.0	194.8	e	1.7	6.5		163.3	160.6	2.8	e		39.7	215.1		107
	2026	217.1	206.3	e	2.1	8.7		172.6	169.8	2.8	e		44.4	259.5		125
	2027	231.8	218.3	e	2.3	11.2		180.4	177.4	3.0	e		51.4	310.9		144
	2028	249.9	233.4	e	2.4	14.1		182.3	179.2	3.1	e		67.6	378.6		171
	2029	267.3	246.9	e	2.5	17.9		181.4	178.1	3.2	e		85.9	464.5		209
	2030	287.2	262.0	e	2.5	22.6		183.0	179.6	3.4	e		104.2	568.7		254
	2031	308.9	277.9	e	2.7	28.3		186.7	183.2	3.5	e		122.2	690.9		305
	2032	332.6	294.6	e	2.8	35.2		191.7	188.0	3.7	.1		140.9	831.8		360
	2033	361.8	315.4	e	3.1	43.3		198.3	194.4	3.8	.1		163.5	995.3		420
High-cost:
	2024	185.4	179.3	e	1.6	4.5		159.3	156.7	2.6	e		26.0	168.9		90
	2025	183.0	175.6	e	1.8	5.6		171.5	168.7	2.8	e		11.5	180.4		99
	2026	191.6	183.5	e	2.2	5.9		185.7	182.9	2.8	e		5.9	186.3		97
	2027	197.3	188.8	e	2.5	6.0		197.4	194.4	2.9	e		e	186.3		94
	2028	205.5	196.8	e	2.7	6.0		202.6	199.5	3.1	e		2.9	189.2		92
	2029	212.3	203.4	e	2.8	6.1		204.9	201.7	3.2	.1		7.4	196.7		92
	2030	220.4	211.1	e	2.9	6.3		209.9	206.6	3.3	.1		10.5	207.2		94
	2031	228.2	218.5	e	3.1	6.6		217.3	213.8	3.4	.1		10.9	218.1		95
	2032	235.4	225.1	e	3.4	6.9		225.8	222.2	3.5	.1		9.6	227.6		97
	2033	244.8	233.9	e	3.7	7.2		235.5	231.8	3.6	.1		9.3	237.0		97

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a

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.

b

Includes adjustments for prior years.

c

Includes reimbursements from the General Fund of the Treasury to the DI Trust Fund for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; and (2) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112‑78, and 112-96.

d

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

e

Between -$50 million and $50 million.

Note: Components may not sum to totals because of rounding.

Table VI.C6.—Operations of the Combined OASI and DI Trust Funds,
Fiscal Years 2019-2033^a 

[Dollar amounts in billions]

Fiscal year		Income						Cost					Asset Reserves		Trust fund ratio at start of year b
		Total	Net pay-roll tax contri- butionsc	GF reim- burse- mentsd	Taxa- tion of bene‑ fitsc e	Net interest		Total	Scheduled benefits	Admin- istra- tive costs	RRB inter- change		Net change during year	Amount at end of year
Historical data:
	2019	$1,051.1	$932.4	f	$36.1	$82.5		$1,044.5	$1,033.0	$6.6	$4.9		$6.5	$2,900.7	277
	2020	1,103.0	984.6	f	39.6	78.8		1,095.4	1,084.3	6.2	5.0		7.5	2,908.2	265
	2021	1,080.4	972.3	f	34.8	73.3		1,134.8	1,123.4	6.4	4.9		-54.4	2,853.9	256
	2022	1,203.1	1,086.9	f	48.5	67.7		1,218.6	1,206.4	6.8	5.5		-15.5	2,838.3	234
	2023	1,332.9	1,215.5	$0.2	50.8	66.5		1,354.6	1,341.8	7.1	5.6		-21.6	2,816.7	210
Intermediate:
	2024	1,371.2	1,247.1	f	55.9	68.1		1,459.5	1,446.8	7.0	5.7		-88.3	2,728.4	193
	2025	1,409.3	1,280.3	f	60.8	68.1		1,551.4	1,538.2	7.3	5.9		-142.2	2,586.3	176
	2026	1,482.8	1,343.7	f	72.9	66.2		1,642.8	1,629.3	7.4	6.1		-160.0	2,426.2	157
	2027	1,546.9	1,399.4	.1	81.9	65.5		1,735.8	1,722.0	7.6	6.2		-188.9	2,237.3	140
	2028	1,629.5	1,476.6	.9	88.9	63.0		1,829.5	1,815.3	8.0	6.3		-200.0	2,037.3	122
	2029	1,698.2	1,542.7	f	96.1	59.5		1,923.2	1,908.5	8.3	6.4		-225.0	1,812.3	106
	2030	1,772.6	1,613.9	f	103.8	55.0		2,021.3	2,006.3	8.6	6.5		-248.7	1,563.6	90
	2031	1,848.7	1,686.9	f	112.0	49.8		2,122.8	2,107.3	8.9	6.6		-274.0	1,289.6	74
	2032	1,925.0	1,761.0	f	120.8	43.1		2,226.4	2,210.5	9.2	6.7		-301.4	988.2	58
	2033	2,021.3	1,857.2	f	130.4	33.6		2,332.3	2,316.1	9.5	6.8		-311.0	677.1	42
Low-cost:
	2024	1,384.2	1,260.0	f	55.9	68.3		1,457.7	1,445.0	7.0	5.7		-73.5	2,743.2	193
	2025	1,473.3	1,342.0	f	60.7	70.4		1,547.0	1,533.8	7.3	5.9		-73.7	2,669.5	177
	2026	1,568.4	1,420.9	f	73.1	74.4		1,643.5	1,630.1	7.4	6.0		-75.2	2,594.3	162
	2027	1,665.4	1,503.9	.1	82.5	78.9		1,742.6	1,728.7	7.7	6.1		-77.1	2,517.2	149
	2028	1,781.9	1,607.6	.9	89.9	83.4		1,841.8	1,827.4	8.1	6.2		-59.9	2,457.3	137
	2029	1,886.2	1,701.0	f	97.5	87.6		1,941.7	1,926.8	8.5	6.4		-55.5	2,401.8	127
	2030	2,002.8	1,804.8	f	105.8	92.3		2,047.2	2,031.8	8.9	6.5		-44.3	2,357.5	117
	2031	2,127.9	1,914.5	f	114.6	98.8		2,157.4	2,141.5	9.3	6.6		-29.4	2,328.1	109
	2032	2,258.4	2,029.2	f	124.2	104.9		2,271.3	2,254.8	9.8	6.7		-12.9	2,315.2	102
	2033	2,419.9	2,172.6	f	134.7	112.6		2,389.3	2,372.3	10.2	6.8		30.6	2,345.8	97
High-cost:
	2024	1,358.8	1,234.8	f	56.0	68.0		1,461.6	1,449.0	7.0	5.7		-102.8	2,713.9	193
	2025	1,336.4	1,209.6	f	60.9	65.9		1,557.6	1,544.4	7.3	6.0		-221.2	2,492.7	174
	2026	1,396.6	1,264.1	f	72.9	59.6		1,650.0	1,636.4	7.4	6.3		-253.5	2,239.2	151
	2027	1,436.9	1,300.6	.1	81.7	54.4		1,739.4	1,725.5	7.6	6.3		-302.5	1,936.7	129
	2028	1,492.9	1,355.9	.9	88.4	47.7		1,827.4	1,813.2	7.8	6.4		-334.5	1,602.2	106
	2029	1,534.9	1,401.5	f	95.1	38.2		1,914.8	1,900.3	8.1	6.4		-380.0	1,222.3	84
	2030	1,586.4	1,454.6	f	102.4	29.5		2,006.2	1,991.4	8.3	6.5		-419.7	802.5	61
	2031	1,634.0	1,504.9	f	110.1	19.0		2,100.3	2,085.2	8.5	6.5		-466.2	336.3	38
	2032	g	1,550.6	f	118.4	g		2,195.4	2,180.1	8.7	6.6		g	g	15
	2033	g	1,611.6	f	127.2	g		2,291.8	2,276.1	8.9	6.7		g	g	g

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a

The OASDI Trust Fund reserves become depleted in fiscal year 2032 under the high-cost assumptions. 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.

b

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.

c

Includes adjustments for prior years.

d

Includes reimbursements from the General Fund of the Treasury to the OASI and DI Trust Funds for: (1) the cost of payroll tax credits provided to employees in 1984 and self-employed persons in 1984-89 by Public Law 98-21; and (2) payroll tax revenue forgone under the provisions of Public Laws 111-147, 111-312, 112-78, and 112-96. Also includes transfers of a portion of proceeds from repayments of loans authorized under Public Law 116-136.

e

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

f

Between -$50 million and $50 million.

g

When the fund reserves are depleted, values under current law would reflect permissible expenditures only, which would be less than the full cost of paying scheduled benefits shown in this table.

Note: Components may not sum to totals because of rounding.